Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

btw, tether supply increased by 20% 7 hour ago

http://omnichest.info/lookupadd.aspx?address=3MbYQMMmSkC3AgWkj9FMo5LsPTW1zBTwXL

+160% increase since 1rst of march

i think we found how they paid back everyone

))

Never looked into Tether. Seemed impossible on its surface. How is the peg maintained? Don't know, don't care - it is an inherent impossibility.

Issue 1:1 ratio between Tether and USD held in reserve. In theory, settlements would result in USD passed to the customer, Tether passed back to the originator, then Tether being destroyed.

right it works just fine, but there is an element of trust, you must trust the poeple who manage Tether to hold full reserves.

I think in the coming years we could see somthing very similar to USDT but issued and managed by some real bank, Or Tether will continue to grow and Become a 'real bank'; when i say "real bank" i mean the kind of bank that can legally operate with ~10% held in reserve Grin