Tether is a big scam dressed up as a great idea. It's tied to the price of USD, addressing the need for a "stable" currency on the various Exchanges. It most notably allows people to "cash out" from cryptos, without all the legal issues that come with actual FIAT money. Problem is, Tether is the first cryptocurrency that was "hacked" and it might easily happen again.
RE: Why Tether’s latest statement about its auditor is complete BS
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Why Tether’s latest statement about its auditor is complete BS
well said. the need is largely unmet, and Tether is capitalizing on that... but in the most shady way possible.
TrueUSD seems like a much more promising approach, with a legit team behind it. we'll see how it goes
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