9 upvotes, 1 direct replies (showing 1)
View submission: Bitfinex never ‘repaid’ their tokens, Bitfinex started a ponzi scheme.
If USDT is created from nothing and not convertable into USD then, perhaps the recent crypto rallies were actually just a collapse of the USDT price.
That would mean Butts are now, for the most part, disconnected from the financial system.
Comment by kidfay at 30/10/2017 at 02:48 UTC
2 upvotes, 1 direct replies
Yep, pretty much. The price on the exchange is some real dollars + a whole bunch of made up tether dollars.