Quote from: iamsamuel on March 07, 2018, 07:58:38 AM

Quote from: ShortCoins on December 15, 2017, 06:14:20 PM

Tether is a token used to trade cryptocurrency with. The CEO of Tether is also the CEO of BitFinex, the largest crypto exchange in the world. Tethers are supposed to be backed by USD. So, for every Tether they issue, they have a dollar in their bank account. Everytime a new bunch of Tethers is 'created', the price of Bitcoin shoots up, because they buy Bitcoin with it on Bitfinex. Because they are issuing so many Tethers (100 million in a day isn't uncommon), people are starting to doubt whether they actually have the USD to back it. Coupled with the fact that they are far from transparent, delay audits to prove they have the dollars, and they do not have the obligation to trade your Tethers back to USD, it sure looks fishy. You can imagine what will happen if it turns out the Tethers are created out of thin air to prop up the price of cryptos.

Whats your opinion on Tethers?

Tether has become a pivotal source of liquidity for the crypto markets, which has close ties to the crypto exchange Bitfinex, Tether has been issuing more USDT than it has dollars in the bank, in order to drive up the price of bitcoin. But the Tether price forecast 2018 is under the spotlight amid a massive pullback in the cryptocurrency market.

Whenever I see tether mentioned or talked about I immediately assume the worst.
It's a disaster in the making.