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Tether Withdrawals Top $10B

cnbc.com

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Re: Tether Withdrawals Top $10B

#3

Post by Ekaros »

tablespoon wrote: post #2

Don't listen to the haters, Tether is going to the moon! Now is a great to invest, so you can get in on the ground floor. /s

No, no, it's stable coin. You see 1 USDT will always be 1 USDT. That is what stable coin means and is doesn't it? That is you can always redeem one USDT for one USDT(terms and conditions might apply)...

Re: Tether Withdrawals Top $10B

#4

Post by cycrutchfield »

Ekaros wrote: post #3
tablespoon wrote: post #2

Don't listen to the haters, Tether is going to the moon! Now is a great to invest, so you can get in on the ground floor. /s

No, no, it's stable coin. You see 1 USDT will always be 1 USDT. That is what stable coin means and is doesn't it? That is you can always redeem one USDT for one USDT(terms and conditions might apply)...

Nah you can also redeem 1 USDT for some Evergrande debt as well

Re: Tether Withdrawals Top $10B

#6

Post by thematrixturtle »

> “Whenever there’s a failure or a catastrophe in crypto, the fear is always that someone will misread the situation and overcorrect in a position that’s not helpful for the entire community writ large,”

This statement is all kinds of amazing:

* Casual use of the phrase "whenever there's a catastrophe in crypto", since there really is one every few days

* "Misread the situation and overcorrect" --> read: taking their money out of the casino and turning it back into filthy fiat

* "Not helpful for the entire community" --> read: taking money out of shitcoin X damages the valuations of all other shitcoins, so the owner of one random blockchain would very much prefer that you didn't do that

Re: Tether Withdrawals Top $10B

#7

Post by 0xy »

The most concerning thing to me about Tether is they appear to own Chinese corporate debt for some unknown reason. Isn't that an insane amount of risk?

In what universe is Chinese corporate debt even remotely liquid? It could be invested in Evergrande-adjacent companies for all we know. And you know when push comes to shove the Chinese government will throw foreign investors under the bus first.

Re: Tether Withdrawals Top $10B

#9

Post by MisterBastahrd »

I'm sure this is all just fine and we just aren't sophisticated enough to understand the big brains behind the upcoming blockchain revolution that's going to decentralize all the things and grant freedom to everybody while also making us all rich. Hell, just today I read about a new coin that was going to behave as a stand-in for gold so that we could invest in that instead of destroying the environment to pull the actual stuff out of the ground. Maybe our hopes and dreams are the conductors of the future.
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