Quote:
Originally Posted by yyrkoon
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tether is presumably less of a fraud than usd. tether is backed by usd - at least that's the idea.
usd isn't backed by anything but the perception, by the world, of the united states grandeur, which is vague to say the least (unless you are iraqi or afghani, in which case it's not vague at all)
don't get me wrong, i wouldn't hold tether for any longer than it takes to buy some actual ecurrency with it.
also bitfinex seems shady as fuck.
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PURCHASE AND REDEMPTION OF TETHERS: The Site is an environment for the purchase and redemption of Tethers. Once you have Tethers, you can trade them, keep them, or use them to pay persons that will accept your Tethers. However, Tethers are not money and are not monetary instruments. They are also not stored value or currency. There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money. There is no guarantee against losses when you buy, trade, sell, or redeem Tethers.
& i already told you, usd is backed by men with guns