Is that really him?
Yes
Well he is right about the Tether scam. It's a huge fraud that will rock crypto when it comes crashing down.
That has been well known for quite awhile, if you search my post history you will find warnings from when polo first listed it. When did he notice it? It's pretty well known around the interwebs that it is backed by nothing. It's the hot potato token when the music stops we will se who gets burned.
It is backed by nothing? What exactly do you think Bitcoin is backed by then? All it will take for the “music to stop” on Bitcoin is one major event (coding problem, multi govt action, whale dump and price crash, et cetera)
I am sorry, but I cannot help it. I have to interject and join the discussion hehe.
Yes bitcoin is not backed by anything, but surely you cannot justify that Tether's unbackedness is the same as bitcoin's. From the distribution of the coins, the monetary policy and to the structure of the network, you know bitcoin does it in a way that prevents any participant in the network from becoming a central authority.
On the otherside, there are rumors that Tether printed another $94 million worth of USDT.
You’re right of course, no crypto is backed by anything. People have simply replaced trusting a government fiat issuing authority wth trusting a collection of unknown coders and half-assed community oversight. A perfect example of the half-assed oversight is the respected an revered Roger Ver visiting MtGox and telling everyone how great things are going right before Karpeles loses 500k community bitcoins.
I agree, Tether is worse.
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