So much FUD about Tether but people forget banks don't even carry the cash you deposit. It's all credit!

People attacking USDT for not being pegged 1:1 to their reserve but conventional banks don't even hold the money you deposit in their branch, it's all a credit based system. They essentially create the amount out digitally as debt. Not many people know this but it's the truth.

I suggest viewing this video by coldfusion (not affiliated in any way) as he explains how the current banking system works: https://youtu.be/mzoX7zEZ6h4 at 5 minutes.

Essentially no amount you deposit is actually pegged 1:1. So before FUDing Tether, a part of the crypto community since many years and which many people have substantial amounts of it, look at the current banking system before hand.