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RE: About Tether and Bitfinex

in #tether7 years ago

USDT always seemed suspicious to me.. But the concept behind Tether is very creative and could be valuable if used honestly without any intention of Scamming their customers.. Exchanges getting hacked has been common but Bitfinex tried to repay back the people who lost their money in a creative way, unlike Mt Gox who just disappeared making many of their clients go homeless.. but I'm still very suspicious about USDT as they are creating huge new supplies everyday.. and we are told for every Tether they are keeping 1 USD saved as backup but we never saw any evidence.. perhaps they are creating 100,000 Tether but keep 1 USD to back that up? who knows what the truth is but only time can tell