warning USdt tether is not real USD

lays (67)in #bitcoin • 6 years ago

Usdt is not real usd or backed by any USd reserve bank ,Usdt tether is backed by unknown and They have made it to hide real reserve and keep the price to 1 USD so people start going to believe it as a real USd.
let me show how USdt works for example if investors bought USdt 1 billion real price of usdt should be 100$ instead of showing real market cap USdt use fake report and daily withdraw extra market cap to keep the price to 1 usd .
MR.Lee LTC owner recently warned exchanges to on USdt issue they should keep and eye on usdt activities.

According to Tether, USDT tokens are “backed’ by US Dollars in a 1:1 ratio. In the last six months, Tether have been constantly accused of not having sufficient fiat reserves to back the tokens that they periodically issue.

#money #cryptocurrency

6 years ago in #bitcoin by lays (67)

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positivebalances (57) 6 years ago

This has been an ongoing issue. Im glad someone with as much reputation as Charlie Lee is speaking up about this though

$0.32

2 votes

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grizgal (55) 6 years ago

This has been a massive issue for some time and can only be resolved via proper, independent audit, or when tether fails. It won’t take much for there to be a run on tether and a lot of people will lose a lot of ‘safe’ money.

$0.10

1 vote

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