Bitfinex, the Italian network behind the boss that makes Bitcoin tremble
Starts with: &quot;The lawless rollercoaster of bitcoin enriches few investors, while many often lose everything.&quot;<p>Not true, It is another ATH day for BTC, so literally anyone that bought BTC in the past and held is in the money. &quot;Many often lose everything&quot; is absurd.<p>There isn&#x27;t anything radical or new discovered here, and is trying to drum up 2021 &quot;Tether FUD&quot;. Heard it all before. Hasn&#x27;t crashed. Works on several more cheap, smartcontract blockchains now than  expensive ol&#x27; ether in &#x27;18. Powers billions in defi, loan and other radical new financial instruments. Few believe that there are literally bank accounts backing this 100% today, and you know what? 
Who cares?<p>Do I trust an ECDSA signature more than I trust a nameless brick and mortar bank holding some corporate funds. Hell yes. Computational security. Hard laws of math. I&#x27;d rather not hold tether in general, but IMHO it is less at risk than funds in bank accounts. I know this might sound strange to you dear reader, but you may not have experienced  a time where bank accounts got haircuts, or your bank  started freezing your funds. You cannot trust a bank! Be your own bank!<p>Too many folks are holding onto old ideas of what money is, and do not see what it is turning into. While I do not claim that tether itself is non-controversial, its behavior in the cryptomarkets general is non-controversial in that it holds a peg 1:1 with the USD, and is generally fungible and easily converted.<p>Chill on the tether fud, next cycle you will probably be sick of it too.