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A comment on Tether is “too big to fail” – the entire crypto industry utterly depends on it.

Re:Tether is “too big to fail” – the entire crypto industry ... by pavlov on Sunday December 13, 2020 @03:44PM (#25410064)
The argument against this view of Tether often seems to come down to: "If something this big was a scam, surely it would have been exposed a long time ago."

That's exactly what was said about Enron and the Madoff fund, though. If anything, Tether is flashing much bigger warning signs.

Bitcoin proponents make a big deal when some giant fund invests an experimental $100M in crypto tokens (a small fraction of a percent for the fund), but they don't seem to care about $20B of fake money from Tether (a large percentage of the total money supposedly in Bitcoin).

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Re:Tether is “too big to fail” – the entire crypto industry ... by xur17 on Tuesday December 15, 2020 @10:52AM (#25431355)
> Bitcoin proponents make a big deal when some giant fund invests an experimental $100M in crypto tokens (a small fraction of a percent for the fund), but they don't seem to care about $20B of fake money from Tether (a large percentage of the total money supposedly in Bitcoin).

I'm not sure this is true. I get the impression that Bitcoin / crypto proponents see it as a problem (it's regularly discussed amongst them), but really aren't sure what they can do about it. A lot of people avoid holding it and say it's risky / a problem waiting to happen, but beyond that, I fail to see what they can do.

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Re:Tether is “too big to fail” – the entire crypto industry ... by Bombthecat on Sunday December 13, 2020 @04:14PM (#25410348)
Yeah, i feel like that crypto replaced the fed with ether. Ether gets printed and buy bitcoin when the price falls.

Hmmm

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Re:Tether is “too big to fail” – the entire crypto industry ... by moosterv on Sunday December 13, 2020 @04:30PM (#25410486)
I think you mean tether
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Re:Tether is “too big to fail” – the entire crypto industry ... by Bombthecat on Monday December 14, 2020 @05:08AM (#25415294)
Ah, yeah right, tether :)
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