Cryptoqueen: A woman scammed the world, then vanished (2019)

Re:Cryptoqueen: A woman scammed the world, then vanished (2019) by kemonocode on Saturday May 15, 2021 @07:19PM (#27169833)

I don't like Tether as it's no different from fractional reserve banks, but as long as the NYAG remains content with what she sees, it's sound money. Been waiting its supposed collapse for half a decade now with bated breath, but it still has yet to happen.

Disclaimer: I own zero USDT and an insignificant amount of USDC, being rather skeptical on "stablecoins" in general.

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Re:Cryptoqueen: A woman scammed the world, then vanished (2019) by Clewza313 on Saturday May 15, 2021 @08:20PM (#27170149)

NYAG stated that "Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie" and banned it entirely from New York.

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Re:Cryptoqueen: A woman scammed the world, then vanished (2019) by jollybean on Saturday May 15, 2021 @11:46PM (#27171038)

"I don't like Tether as it's no different from fractional reserve banks,"

That reserves don't add up to the currency in circulation is somewhat similar to a central bank but the similarities end there and they are basically nothing alike.

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Re:Cryptoqueen: A woman scammed the world, then vanished (2019) by imtringued on Sunday May 16, 2021 @11:31AM (#27174321)

Will a government bail out Tether when its institution goes bust? If not then, then it is far worse than fractional reserve banks.

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