brettinthewoods on Nostr: The argument goes something like this: -Tether does not have 1 USD in their coffers ...
The argument goes something like this:
-Tether does not have 1 USD in their coffers for every TUSD issued (this is true)
-Tether creates TUSD willy nilly and spends it to buy BTC, thus pumping the price of BTC artificially
It’s quite easy to debunk. But people who don’t understand the basics of why BTC has value really latch onto this one.
Published at
2023-08-28 13:40:52Event JSON
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"pubkey": "eba88fd011fe2a2e82b868ec498274af4d7bb770269cbfc854096dbe0b98fa47",
"created_at": 1693230052,
"kind": 1,
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"content": "The argument goes something like this:\n-Tether does not have 1 USD in their coffers for every TUSD issued (this is true)\n-Tether creates TUSD willy nilly and spends it to buy BTC, thus pumping the price of BTC artificially\n\nIt’s quite easy to debunk. But people who don’t understand the basics of why BTC has value really latch onto this one.",
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