Do tether not guarantee redemptions at par then?
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They have “temporarily suspended” them.
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i.e. there are literally 0 reports of any tether ever being redeemed for USD
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Literally? Surely that can't be true.
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literally.
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Replying to @davidgerard @_Vimothy_ and
maybe you can find one, and if so it'll be the first. this is what happens when someone innocently tries to redeem their tethers just like the front page promises: their PR team defames them to Bloomberghttps://davidgerard.co.uk/blockchain/2017/12/05/bitfinex-rattles-legal-sabres-at-critics-tether-fails-to-redeem-usdt-1m-for-dollars/ …
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Interesting. You'd think that even a competent ponzi would be able to facilitate some redemptions in order to support the dollar peg. They can after all always print more tether. What is their long term strategy?
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I have no idea. I can't even think up what the exit would be. Perhaps EVERYTHING IS FIIIIINE
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In other words, it's ideological.
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I'm pretty sure they're in business for the money though
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Perhaps they're also incompetent then, because unless they plan to steal their customers money, it's in their best interest to maintain the peg, and that means making redemptions at par
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Replying to @_Vimothy_ @davidgerard and
“Steal their customers’ money and then vanish” is far from unprecedented in this space.
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