Tether is only 70% backed and even that is not entirely backed by dollars, but "equivalent assets". Meanwhile people are buying tokens used for torrents. You know because you need your torrent tokens for your torrents and your sneaker tokens for your sneakers.
This whole fucking space is fake and gay. Pic unrelated
>mainstream finance already offers similar products They don't.
This is the kind of shit I'm talking about. The market is filled with people who have no idea how Bitcoin works and they think its the same thing as regular banking and finance.
