Hey, I was just wondering what your thoughts are on whether Tether is still trustworthy.

[someonenew]

This video made me reconsider how trustworthy the people behind Tether are. What are your guy's thoughts?

https://www.youtube.com/watch?v=-whuXHSL1Pg

 

[manualtony]

What is it?

 

[The Repeated Meme]

No.

 

[TORtlEMUStRaNSUS]

man I don't know. not your keys not your coins. there's no reason to go all in on a stable coin, so why even bother?

 

[Turtle O'Carolan]

Tether is built on sand. It was never trustworthy.

 

[Small G genocide]

Tether is too big to fail (unironically)
Maybe they're undercapitalised - If so, they've buggered up the easiest business model in the world. If tether goes south, you'll have far bigger problems to worry about than the 20k you kept in tether. Best just to assume they're healthy, or that it will never catch up to them.

 

[TEA 3HF]

Fellas, is this unaudited Crypto-currency a scam?

 

[Looney Troons]

When in doubt, don’t. Safest bet.

 

[Jacknife]

If tether goes south, you'll have far bigger problems to worry about than the 20k you kept in tether.

LMAO no, nothing would happen

 

[Claude Sigma]

Sure, it's too big to fail.
USDT and USDC have so much institutional backing that it can hold without legs.

I would lose quite a bit of money because I have a 5.8% APR on both of them, but if they failed, BTC would crash and never recover, which would be a good thing for Monero, so maybe I'd actually end up winning.

 

[cybertoaster]

It never was, the fact it was created by bitfinex makes it clear its all bullshit, the only reason it hasn't collapsed yet is because nobody has dumped it yet, and nobody does because they know doing so would completely crash the crypto market forever, they been printing literal fake money with no backing what-so-ever, its cryptopesos.

 

[Squishie PP]

Anything tied to the Petrodollar has no chance in the long run.

 

[Rootless Cosmopolitan]

No. It is not trustworthy at all. I have been waiting for this particular time bomb to go off for literally years now. I have a packet of popcorn I am saving with “TETHER” written on it to enjoy when this happens.

However…. This is really the case with a lot of crypto. Scams abound. I myself also think this is the case with the US Dollar itself. Tether should be seen as “double fiat” currency — it itself is fiat currency, based on the USD which is also fiat currency. You’re exposing yourself to far more risk if you touch it.

 

[goosecaboose]

‘the treasury is based upon mining, the army upon treasury, he who has army and treasury may conquer the whole earth.’ - Chanakya

https://sindhishaan.com/article/history/hist_04_01.html

Tether has a treasury but no army. To legitimize a ponzi scheme you need the backing of a standing army, as central banks do.

 

[Oat Milk Matcha Latte]

It was never trustworthy. Stablecoins brought a fractional reserve system to cryptocurrency and retards ate it right up.

 

[megara]

No, there were credible allegations that Tether and Bitfinex used to share their fiat reserves.

 

[BigO-in-Ohio]

Y’all think SBF is still trustworthy? tf kinda question is that?