Re:Crypto Market Tops $1T as Bitcoin Breaches $37,000
by reidjs on Thursday January 07, 2021 @10:02AM
(#25671814)
Why does Tether always come up in HN crypto threads? I'm surprised it's still around after it was revealed they're running a fractional reserve. When I worked in the industry Tether was a joke and there were many alternatives that are backed 1:1.
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Re:Crypto Market Tops $1T as Bitcoin Breaches $37,000
by aent on Thursday January 07, 2021 @10:06AM
(#25671857)
Because they keep printing more and more unbacked money to the point that they are the 3d largest crypto currency right now and almost all crypto trading happens in tether, not actual dollars, so it's unclear how much actual money there is in that market and how much of it is fake dollars.