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RE: RED ALERT - Mt. Gox 2.0 Brewing - Bitfinex May Be Issuing Unbacked Tether To Paper Over Banking Service Loss - What We Think We Know (Part 1)

in #bitcoin6 years ago

Tether will vanish without a trace eventually. There is no backing of one to one physical dollar as claimed. Even if it does, usd is itself not backed and hence the original reason we are into crypto. So it's a full circle, dog chasing its tail. When that event happens, it may or may not cause a major general correction. Then after, things will be up again but another tether will appear. It could be Canadian dollar tether. Yen. EURO. Anything. Someone will copy this method.