Plenty of companies redeem USDT for USD. I myself worked at a company that redeemed billions of dollars. The FUD on HN is approaching delusional levels.
And what does the company do with those USDT? If the money printing theory is correct, companies like yours would be the ones counteracting any sell-pressure on USDT.
If the theory is not correct, companies like yours would see an at least equal buy-side demand for USDT, bringing real USD into the system.
I mean, does the company hold (increasingly?) large USDT positions on their balance sheet (and would therefore be the ones in the hole if Tether loses the peg), or is the company able to get actual dollars out of Tether inc. in exchange for those tokens?
> Unfortunately, Tether has decided to stop serving U.S. individual and corporate customers altogether. As of January 1, 2018, no issuance or redeeming services will be available to these users.
Exceptions to these provisions may be made by Tether, in its sole discretion, for entities that are:
Established or organized outside of the United States or its territorial or insular possessions; and,
Eligible Contract Participants pursuant to U.S. law.
> An Eligible Contract Participant includes a corporation that has total assets exceeding $10,000,000 and is incorporated in a jurisdiction outside of the United States or its territories or insular possessions. This will be the principal basis upon which we will continue to do business with selected U.S. persons.
Basically, it looks like they only provide on and off ramps for large clients outside the US. Given their history, I am betting they might not want to reveal where they store their assets, and don't want to deal with US regulators (but not sure this is working).
Tell you what: you give me $100, I'll give you back a cooldude coupon. I have sole discretion as to whether I'll redeem this coupon when you hand it back to me.
Question: Would you say you can redeem this coupon? It's possible I might decide to give you back your money, after all.
When did I say I was providing a source for not being able to redeem tether? I'm just linking to information that I found useful when forming an opinion on the matter.
I mean, does the company hold (increasingly?) large USDT positions on their balance sheet (and would therefore be the ones in the hole if Tether loses the peg), or is the company able to get actual dollars out of Tether inc. in exchange for those tokens?