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A comment on Is This the End of Crypto?. Parent comment

Re:Is This the End of Crypto? by sokoloff on Thursday November 17, 2022 @12:20PM (#33642248)
What constitutes a "scam" in the that paper? That paper treats all USDT (Tether) transactions as "not scam".

I think that remains to be proven and I don't think it's anywhere near certain.

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Re:Is This the End of Crypto? by hellotomyrars on Thursday November 17, 2022 @12:35PM (#33642486)
Tether is arguably itself a scam based on their incredibly creative account and likely outright lies about the backing of Tether.
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Re:Is This the End of Crypto? by aww_dang on Thursday November 17, 2022 @12:42PM (#33642631)
Turtles all the way down. The US central bank backs the US dollar with "The full faith and credit of the US government"

https://www.federalreserve.gov/faqs/currency_12770.htm

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Re:Is This the End of Crypto? by hellotomyrars on Thursday November 17, 2022 @12:48PM (#33642736)
Sure, totally. But I trust the faith and credit of the US government a lot more than the faith and credit of Tether.
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