The main place we differ is that we are on opposite sides of the ‘will Tether de-peg?’ market. No matter what they did in the past, I now see a 5% safe return as creating such a good business that no one will doubt ability to pay. Sometimes they really do get away with it, ya know?
This seems sensible, but I remember thinking something very similar about Full Tilt, and then they turned out to be doing a bunch of shady shit that was very not in their best interest. I think there’s a significant chance that fraudsters gonna fraud even when they really shouldn’t, and Tether in particular has such a ridiculous background that it just seems very possible that they will take unnecessary risks, lend money when they shouldn’t, etc, just because people do what they’ve been doing all too often.
This seems sensible, but I remember thinking something very similar about Full Tilt, and then they turned out to be doing a bunch of shady shit that was very not in their best interest. I think there’s a significant chance that fraudsters gonna fraud even when they really shouldn’t, and Tether in particular has such a ridiculous background that it just seems very possible that they will take unnecessary risks, lend money when they shouldn’t, etc, just because people do what they’ve been doing all too often.