Is TETHER Legitimate or a SCAM?

[cryptohottie]

I have read many posts and several articles on TETHER and I would like to know what people think and use TETHER for because it sounds like people are split on how they feel about it.

Your feedback is much appreciated!

 

[bitcoinman93]

why do you think tether is scam? There has been subpoena to them but it doesn't mean they're scam. It's risky from regulation perspective what they claim they're doing as they claim to back the currency with usd, which is always under the surveillance of sec

[Murloc]

Try to surf the internet for the cases when governments artificially held the exchange rates of their currencies (spoiler: Venezuela is among those countries) and guess what may happen with the "stablecoins", this thing is easily appliable to cryptocurrencies. Either the same will happen with Tether or they will have enourmous reserves to back the coin.
It is not a "scam" in a common meaning of this word but it supposed to work that way.

[muhdatha]

Try to surf the internet for the cases when governments artificially held the exchange rates of their currencies (spoiler: Venezuela is among those countries) and guess what may happen with the "stablecoins", this thing is easily appliable to cryptocurrencies. Either the same will happen with Tether or they will have enourmous reserves to back the coin.
It is not a "scam" in a common meaning of this word but it supposed to work that way.

That's right. And try to find any proof about audit since last april.
I'm heard many times that Tethers team print out their currency without any control and fiat deposits.