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Comment by firekvz | Hacker News Reader

how you guys interpretate all this price swings with barely no trade volumen increase?

i think the whole crypto narrative it's slowly dying, okay its ATH now, but yeah, we still got this huge elephant in the room called tether and well u know

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I don't know. What's going to happen with Tether?

It's backed on air. Not even hot air.

So I should not believe attestations by third parties because they are all lies then? https://tether.to/en/transparency/?tab=reports

I guess that would be not much different than Moody's lying about debt ratings prior to 2008.

noone knows, but the real question is why any govt hasnt done any significative investigation or attack on tether? the only explanation i see (from the US pov) is that they actually collaborating in deeper investigations so they let it coexist, otherwise it makes no sense how legitimated it is knowing that it's pure fake money and it's not backed up at all

bitcoin wont be real till tether dissapears

We know that Tether is sharing information with law enforcement in the US. Maybe intelligence also.

What about this one? https://www.cftc.gov/PressRoom/PressReleases/8450-21

Tether has huge trust issues surrounding it, and might be little more than one of the greatest pieces of financial engineering in history.

The best place to learn about this is Protos.

I expect they will continue to get obscenely wealthy off interest payments on their US Treasuries; Others have forecasted for many years that they will collapse to zero.

https://www.investopedia.com/stablecoin-issuer-tether-report...

"Crypto is dead, that's why it's more valuable than ever"

Nominal price and value are not the same thing

Everyone is a fool but you I’m sure

I didn't say that. I merely pointed out what I perceive to be an issue with your use of "valuable"

For an asset with no intrinsic value, it is. Just like the nominal price of USD and its value are the same thing.

That's because you express both the price and the value of USD in USD

That isn't the same as the price of BTC in USD

You can express USD in BTC, BTC in BTC, etc. It's a bit arbitrary.

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