6 ms·
Think they are looking for the USG to sanction them....hear me out: what better way to never have to redeem ppl than being sanctioned? oh we are a stablecoin a
by upupandup 4y ago
Think they are looking for the USG to sanction them....hear me out:
what better way to never have to redeem ppl than being sanctioned? oh we are a stablecoin and we want to cash your tether to USD but unfortunately we got sanctioned ---> pass blame to USG
I can't believe they are this stupid and brazen enough to challenge the USG like this.
- rossdavidh 4y agoThis is a very interesting theory.
- wmf 4y agoAnother comment in this thread asked what happens to the backing assets when USDT gets sanctioned. Imagine if large amounts of USDT get sanctioned so Tether can refuse to ever redeem them, yet they keep the collateral. They could go from insolvent to super-profitable overnight!
- upupandup 4y agoTether will get to keep all the bitcoins and people will be holding the bags.
- deleted 4y ago[deleted]
- yladiz 4y agoThey can attempt to pass the blame to the US Gov't, and maybe some individuals would be fooled, but larger investors wouldn't be and would see through their ruse and would both be upset and basically lose any faith they have in the system, making the value of Tether plummet. No one would touch Tether, making it worthless, since the big exchanges would then not let you exchange between <Coin> <-> Tether, and so even if they have some assets backing them up they would effectively be worthless as a company because of loss of trust.