The only sensible comment here. HN has been predicting Tether's collapse for nearly 5 years now and it's simply not happening, people purchasing tether have been taking a short against bitcoin, historically that a very bad bet and certainly one you want to be on the other side of.

Now they've been through very significant bear markets, some theft of funds and still are solvent.

I don't understand the criticism about high amounts and verification for directly redeeming it either. If they did neither of those things it would be a money-laundering haven and they'd have men with guns raiding their homes tomorrow. You can redeem it through kraken and other domestic exchanges for cold hard cash, it's working perfectly fine.

Tether will be looked back as an example of how dramatically wrong "common knowledge" can be in internet communities, some people are so mentally obstinate and committed to the idea that it is simply too hard to admit they might be wrong, this is fed by others in the community with the same affliction.