Your USDT is just a number in a database that legally means nothing

When USDT fails, (which it will) we will see a GOX level crash unfortunately.

You realise you keep bumping the thread with your replies

We cant keept plugging a hole which will burst sooner or later

All that highlighted text is just about their own CYA so that if the government tells them not to give cash in exchange for laundered tethers, they can do so without being sued. The part about liabilities is for THEM -- they consider tethers a liability that they must have assets on hand to cover on their balance sheet. This means tethers are basically IOUs for money they hold on to, but there's no risk of your tethers not being filled because of a run on the exchange. The language "will not be reasonably denied" is meaningful, and if they were to decide to not let you cash out because they ran out of money, you could absolutely sue them and win.

>it's fine until it implodes
>don't worry you'll sue them in Taiwan or Japan or whatever the fuck
Just like the Mt. Gox traders, right?

Mtgox stuff is held by kraken now isnt it?they are waiting for some ruling to release it

>you could absolutely sue them and win

Oh well that's alright then! That will keep the price of BTC sky-high.

>>Tether

How have they not been sued yet?

Marketing yoursef as a dollar backed instrument - then saying in the tiny print you're DEFINITEY NOT a dollar backed instrument...

Hmm who could be behind this

On one hand tether says they were audited by a Singapore company but it was not available to the public plus it was in Mandarin language. So on one hand I believe them on the other hand I think it's totally bullshit and I don't believe them so I don't know what to believe

I do know one thing for sure it is taking down Bitcoin in a bad bad way I wish it never existed that's so fucked

tether has always been for cucks. just hold BTC you fags.

It's a gift card.
Only redeemable at select locations, if supported, for things besides cash.
They may refund it, but that is entirely up to them.

As for the legal side of things. Most of it is just evading trouble. They're not an official bank, so they cannot act like one. But they are still performing bank-like services, for the purpose of trade.

It is not a smart thing to hold. But neither are Walmart gift cards.

Because no one can read Mandarin?

This post was a mistake even if it is just a joke. Delete this.

So it's like my bank accounts? Neat.

...

>misleading inforgraph
>OP misunderstands or misrepresents legalese
>tethers aren't liabilities kek
Yes they are you idiot,Tether is liable to give you dollars for them, or in practical terms, give the exchanges where trade on, dollars for the Tether you trade.

The only people who hold Tether do so on exchanges so they dont have to exit and re enter. They're saying that they won't do business with known criminals, there's nothing controversial about this. It has no implications regarding their USD fault.

This thread is mischaracterising because they're long on BTC and they don't want it crashing yet, don't want people reducing BTC exposure, elminating or hedging.

If you're on an exchane, you don't redeem Tether, they do.

If you're not on an exchange, there's no reason to get Tether.

I hope this clears any confusion for the uninformed. Tether

D-DELETE THIS!