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/biz/ - Business & Finance

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3431291 No.3431291 [Reply] [Original]

Lmao USDT (Tether) is being remade as an ERC-20 token on the ETH network.

USDT is going to be an ETH token from now on!!

Not even making this up.. Read here:
https://tether.to/tether-update/

This is going to be really, really fucking interesting. Because ERC-20 tokens have a fixed supply.

>> No.3431383

interesting

>> No.3431412

>>3431291
BUY BUY BUY
TETHER TO THE MOON

>> No.3431458

So theyre not really backed huh.

>> No.3431471

>>3431458
Read the last paragraph of the article in the OP called "Solvency". You'd have to take them for their word but for now it seems legit.

>> No.3431510

>>3431458
The claim is that if they issue USDT on the Ethereum network, they will have the funds to back it up.

The irony is that they say they "have to" state that they aren't liable to redeem them for USD, while at the same time promising that they will always do so and that saying they want is just a legal formality. Obviously a huge fucking red flag, but for now at least, it's working.

>> No.3431592

usd tether concept will exist as long as theres no run on the bank. it fills its niche as a hedge coin.
maybe someone else will make a competitor, but it seems unlikely

>> No.3432020

Rational users of 4chan, altcoin shills are attacking stablecoins like Tether in order to fake uncertainty while promoting their pump-and-dump agenda. These shills are a disservice to genuine users trying to find a trustworthy, backed cryptocurrency to do money transfer with.