Is USDT (tether) to be trusted?
The USDT token is supposed to track the USD and be worth exactly one USD. It is (supposed to be) a so-called backed token, meaning that whenever USDT tokens are issued, the same amount of USD should be moved to some deposit account.
In a recent Reddit post /u/digital_del speculates that those deposits aren't real. Lots of new tether has been issued over the past months, the Tether company is owned by Bitfinex, and nobody knows if Bitfinex is doing fractional banking or not.
I think NO, we can't trust USDT.
50 million tokens USDT were released in the last 2 days, obviously it's just patching holes with candy wrappers on strong correction, they are not provided with anything, no external audit! And Tether did not undertake to exchange USDT for dollars!
I don't trust them, they are centralized.
Yes, nothing is heard about this, everyone is silent.
I can't trust it either, a token that it apparently backed by the dollar, but there's not proof of that, and it cannot go over the price of 1 dollar, but it can go below? What's stopping this coin to falling bellow a dollar? Nice post though.
I've seen it being priced slightly above the USD sometimes - typically when the crypto markets are crashing.
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