Quote from: icyboy89 on February 08, 2018, 05:18:08 AM

I think everyone is over exaggerating on the tether FUD. Tether existed from November 2015 till now and has not
crashed. If tether were a scam, they would have gotten out much earlier like Bitconnect.
CFTC has subpoenaed tether since Dec last year and did not say anything bad about tether in the senate hearing.

From what I know, Bitfinex and Tether are the same company and exchanges that want to use tether pay the company 1 USD to receive
1 tether. In that case that 1 tether is backed by the 1 USD that other exchanges purchased from it.
So, I do not see how they do not have the money backed as others claim. They may or may not have it fully backed (No one
knows until its fully audited). But if you doubt they do not have the resources to back 2 billions dollars I would say you're wrong.
Keep in mind, they do not have to generate all the 2 billion USD dollars themselves as most of the money are from other exchanges
that purchased the tether with real USD. if you combine all the money that the exchanges make (Binance, Bittrex, Cryptopia+Others+ Bitfinex
themselves), 2 billion is not unreasonable given how much money all these exchanges combined make per year.

Bernie Madoff ran his Ponzi scheme for 25+ years... Just sayin.