[notthemessiah]

> Tether exists to normalize arb opportunities between exchanges. That's what it was created for.

What things are created for and how they actually behave often diverge.

[otp124]

Wasn’t it _actually_ created to allow export of funds after the parent exchange was banned by the US and Taiwanese banking systems?

[darawk]

Sure. Not claiming it can't have secondary effects. But there's no argument been presented that establishes that it does.

[mannykannot]

Does not the claim, that Tether is not actually backed by dollars, also double as an argument that it would be difficult for it to behave as intended? - i.e. to the extent that the former may be correct, the latter is likely?

[darawk]

Claiming that it doesn't behave as intended is not equivalent to claiming that it pumps the price of Bitcoin.