Is the following an accurate summary of your position:
"There actually aren't dollars that are being moved into tether's accounts but fabricated database numbers. These fabricated numbers are then exchanged for bitcoins but the other people of that trade (the people buying tethers with bitcoins) somehow never redeem these tethers. Despite the tether to dollar exchange rate not at a discount there's a mass delusion. This delusion will continue until bitcoiners buy 10 million tethers for one bitcoin. The dollar-bitcoin market doesn't affect the price/supply of bitcoin."
Because that's what it appears to be. Do you know how a eurodollar works? If not, you would learn much from just that instrument.
Comments
Is the following an accurate summary of your position:
"There actually aren't dollars that are being moved into tether's accounts but fabricated database numbers. These fabricated numbers are then exchanged for bitcoins but the other people of that trade (the people buying tethers with bitcoins) somehow never redeem these tethers. Despite the tether to dollar exchange rate not at a discount there's a mass delusion. This delusion will continue until bitcoiners buy 10 million tethers for one bitcoin. The dollar-bitcoin market doesn't affect the price/supply of bitcoin."
Because that's what it appears to be. Do you know how a eurodollar works? If not, you would learn much from just that instrument.
Not quite. More what I've written to stzup7 below.