What's up everyone,
Today, I will share with you my two cents regarding Tether.
Firstly, I do not trust Tether. I do not trust anyone or anything with my money without full conviction - or at least very low risk and high probability of success. You should not either. Therefore, my behavior signals that I do not believe that Tether is backed 1:1.
Let's think like a good mathematician or scientist might and consider how this plays out logically if the negation of the proposition is true. That is, let's assume that Tether IS backed 1:1, what does that look like? Well, if Tether IS backed by dollars, then that means the current price of Tether is at a considerable discount. This means that those with the knowledge that is is legit would be buying it up rapidly at the discount so that they could sell it for its fair value later.
If this is not happening... this is likely because those in-the-know know that it is a scam and are therefore not going to put their money on the table.
So far, it's not happening...
Remember: your bitcoin is only yours when YOU control YOUR keys. Do not trust your precious bitcoin with sleazy USDT exchanges.
-YoungShkreli
Today, I will share with you my two cents regarding Tether.
Firstly, I do not trust Tether. I do not trust anyone or anything with my money without full conviction - or at least very low risk and high probability of success. You should not either. Therefore, my behavior signals that I do not believe that Tether is backed 1:1.
Let's think like a good mathematician or scientist might and consider how this plays out logically if the negation of the proposition is true. That is, let's assume that Tether IS backed 1:1, what does that look like? Well, if Tether IS backed by dollars, then that means the current price of Tether is at a considerable discount. This means that those with the knowledge that is is legit would be buying it up rapidly at the discount so that they could sell it for its fair value later.
If this is not happening... this is likely because those in-the-know know that it is a scam and are therefore not going to put their money on the table.
So far, it's not happening...
Remember: your bitcoin is only yours when YOU control YOUR keys. Do not trust your precious bitcoin with sleazy USDT exchanges.
-YoungShkreli
Note
Keep in mind, it's totally possible the sell-off in Tether is due to people with insider knowledge selling.Note
Turns out I was right. Tether is only backed about 70%. Game Theory folks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.