Erase all Delusions: This is the way hitch should do its act – Bitcoints

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Published on June 14th, 2018 | by bitcoin

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Erase all Delusions: This is the way hitch should do its act

Erase all Delusions: This is the way hitch should do its actAccording to Tether, each Tether token is backed by one U.S. dollar, held in the full reserve of Tether.
Tether and Bitfinex Whereas most cryptocurrencies have a finite supply of tokens, Tether does not.
Analyzing Tether Issuance Whenever new Tether tokens are issued, the tokens are sent to the Bitfinex wallet.
Tether’s white paper mentions that Tether tokens may be purchased from Bitfinex and that Bitfinex supports the deposit and withdrawal of Tether tokens.
Since Tether registrations are closed and all Tether tokens issued are transferred to Bitfinex’s wallet, the issuance of Tether tokens in round numbers makes it unlikely that these are direct purchases by customers of Tether.

Source: Bitcoinmagazine.com

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