Great read.
Tether is bad for tether. It's bad for Bitfinex users. It will affect exchanges that use it. It seems to be great for washing money around.
Will it affect BTC that much? I doubt it.
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)
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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)