Originally published on Yours.org on May 24, 2018.
52 of #100DaysofSatoshiDoodles
So, I have NO ACTUAL IDEA about Tether(s), the #14 token by market cap.
According to its website,
Every tether is always backed 1-to-1, by traditional currency held in our reserves. So 1 USD₮ is always equivalent to 1 USD.
Since late last year (at least), rumours have been swirling about whether tethers are being printed out of thin air to prop up the price of Bitcoin (or not), warrant canaries disappearing, promised audits not materializing, and more.
Is Tether a bubble waiting to pop or explode?
I can’t make heads or tails out of reddit discussions like this or this, or google searches because *of course you can’t find all of the answers you are looking for on the internet*!
I guess plebs are not privy to privileged information about what is actually affecting cryptocurrency markets on a short or long time horizon. Isn’t that reassuring?