What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around
Is there anything that is new, the transparency issues were there from the beginning and even during the last rally everyone raised their doubts when Tether started minting millions of coins without any transparency and they still keep on doing that and everyone who started a business around the cryptocurrency market should know about the risk.
Yes, the issue is not new and has been around for some time.
Tether is not $1M in market cap like it was in 2016. It is now over $60B and has secured a stablecoin network effect. This could be potentially concerning.
I think there's two issues here:
1) Whether Tether is dodgy
2) If Tether is dodgy, will the flow on effects be disastrous
While I'm not certain about the answer to issue 1 (there appear to be plausible arguments for both sides), I have not seen any well-made arguments explaining why a Tether implosion won't be diastrous.