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posted 2 years ago by ghost_of_aswartz 2 years ago by ghost_of_aswartz +350 / -2

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– MakeAmericaWinAgain 5 points 2 years ago +5 / -0

Tether is what I would compare it too.

It was supposed to be backed 1:1 with USD, until they decided to make gains. Now they’re having to mint more Tether to “keep up” with USD, by backing itself with crypto currencies.

So a self-feeding fire… wait til everyone wants to cash out and the 1:1 is proven to not exist.

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– NoApologyTour 2 points 2 years ago +2 / -0

Exactly. Given enough time every certificate system will devolve into a similar fraud. Even the constitutional US dollar wasn’t immune.

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