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A comment on The Tether Ponzi Scheme. Parent comment

Re:The Tether Ponzi Scheme by devoutsalsa on Wednesday May 19, 2021 @05:14PM (#27214532)
A stable coin worth $1 isn’t very stable of it’s not worth $1, is it?
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Re:The Tether Ponzi Scheme by dheera on Wednesday May 19, 2021 @05:19PM (#27214593)
It's worth what people say it's worth, not what it's backed by. And people seem to be saying it's worth $1 from the charts so ... it's worth $1.

Elon Musk's "net worth" is 146 billion, is that backed by something? No, TSLA shares are manufactured just like USDT.

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Re:The Tether Ponzi Scheme by lvh on Wednesday May 19, 2021 @05:27PM (#27214686)
Do you believe that shares give you certain rights besides just existing? Like, say, a right to future shares of profits, or voting rights?
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Re:The Tether Ponzi Scheme by dheera on Wednesday May 19, 2021 @05:28PM (#27214705)
Okay, so we implement smart contracts on USDT and we have the same.
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Re:The Tether Ponzi Scheme by arp242 on Wednesday May 19, 2021 @05:43PM (#27214873)
Tesla is a company that creates products; that has intrinsic value. Could it all go belly-up? Of course. But the value isn't just invented whole-cloth "just because someone said so".
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Re:The Tether Ponzi Scheme by devoutsalsa on Wednesday May 19, 2021 @08:39PM (#27216118)
How much would you pay for 1 USDT?
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