News for hackers. Stuff that matters.

A comment on Tether Withdrawals Top $10B. Parent comment

Re:Tether Withdrawals Top $10B by throwaway6734 on Tuesday May 24, 2022 @03:21PM (#31496422)
What's stopping them from just printing tethers without dollar backing and injecting them into the market?
[ Parent | on HN ]
Re:Tether Withdrawals Top $10B by stavros on Tuesday May 24, 2022 @03:47PM (#31496731)
Tethers aren't dollar-backed, are they? You just create as many tethers as you want out of thin air, and you sell them for a dollar each. If people want to sell them back, you (presumably) have the dollars still.
[ Parent | on HN ]
Re:Tether Withdrawals Top $10B by Gigachad on Wednesday May 25, 2022 @01:25AM (#31500903)
Considering how much marketing there is over “decentralised” and “trustlesss”, crypto systems are remarkably based in trust.
[ Parent | on HN ]