[dtube] Tether (USDT) Explained - Is Tether a Scam?
If trade cryptocurrencies, you probably come across the most infamous stable coin : Tether (USDT). Tethers are pegged to the USD dollar and are used in many exchanges that don't deal with Fiat (Binance, Poloniex, Bittrex). On paper 1 USDT can redeem $1 USD from the Tether platform, but there has been a lot of accusations of a Scam. This video explains what Tether is and its limitations.
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Here is what Tether can do to restore trust in their Tether tokens:
Give us access to convert any amount of tether we hold directly into USD.(that should not be a problem, if you actually back your Tether one to one with USD as they say)
Put the 2.2 billion USD reserves in an account that can be publicly monitored, but not withdraw from unless official authorization
Have a warehouse (in an undisclosed location) with actual piles of cash, and remote web cams where we can login and see the actual 2.2 billion USD stacked on pallets (kinda like they have those webcams for those shelter animals and stuff)
Oooor….
...thumbs if you agree! (and please sub my channel if you can)
I'd trust them more if they did this
scam or not im not going to invest in it its steem for me
i feeling that as well
Totally agree
I've always wondered why USDT never goes up or down.
bitshares.org !
Tether is a sad sack!!! I despise the fact that Bitfinex mixes crypto with USD.. It isn't good for anyone in this space. If you can't hang with the decisions you make in crypto or cannot afford to invest in it then don't do it. There is no reason we need USDT to support us... I like you youtube channel bro, I just started one myself and also on Steemit. Good luck...
Thats good,Your youtube channel will be very helpful ,i aspect it.I have already Subscribe your channel.This very good news update about cryptocurrency exchanger.It is very informative and educative value
This is very helpful for us.
Keep it up.
Good work.
Tether is doing what it's supposed to be doing righ now (though in some exchanges Tether withdrawal has some whopping associated fee).. However, unless formally audited, one will never know if the underlying company actually has the necessary USD to back the amount of Tether in the market. Till then, in God we trust I suppose!
I totally think tether is wrong in one way or another. How does have oversight on the volume and the ability to know when circulation is correct and managed correctly.
Thanks for sharing Michael!