RE: RED ALERT - Mt. Gox 2.0 Brewing - Bitfinex May Be Issuing Unbacked Tether To Paper Over Banking Service Loss - What We Think We Know (Part 1)

[diomob]

I never understood the concept of Tether. Even from the beginning it sounded like a scam to me. The fact that you can buy a cryptocurrency "backed" by the dollar but can't convert it back to fiat basically makes the backing useless.