Why so many negative opinions about Tether?

[ohlawdy]

A lot of people think that it isn't backed by anything and that way its basically a "scam". You exchange your BTC for USDT, but after that you can't really trade USDT for anything else and you can't withdraw them.

The problem is that they don't really deliver the proof that it is otherwise.

[HALLASTERA]

Tether have not open blockchain it's like paypal. Full controlled currency it's not should be in this community (imho)

[johstacy]

In fact, very many accuse Tether of the fact that he does not have dollar confirmation. However, various audits have confirmed a good financial position. Some accuse Tether of pushing the bitcoin course upwards. Only yesterday I read about this in article. Well, maybe. However, there is no direct evidence.

[Frank76]

I think Tether is a very good instrument for fixing profit. Do not understand why so much negativity towards Tether, several times I used it, it is very convenient, exchange rate is tied to usd.

[hiddenmist]

I think it's the best thing since Bitcoin because I can use it to save my altcoins when shit start hitting the fan and then buy them when they are low, while Tether pretty much never moves from $1.

Now from my understanding people don't like it because an exchange created this coin and it can be made out of nothing?
But I'm not sure about this.

Any input?

Because Tether is not real cryptocurrency. It was made to sabotage bitcoin or to accumulate bitcoin on their benefit. It is a centralized coin that has no definite supply and it was created by thin air. It is like exchanging your bitcoin for nothing.