All it takes for Tether to become completely worthless is one guy decides to seize the account at TetherBank
Do they even really have bank accounts? I'm really confused on how the Bitfinex/Tether thing even works. Don't understand why Tethers are never destroyed. Aren't there some days when the fiat withdrawals at Bitfinex exceeds the deposits? Very perplexing. Surely people haven't been depositing $100 million per day this week at Finex, with the recent correction. There can't be that many bargain hunters. Especially when none of their customers are supposed to be from the US. would it be a pain to deposit USD into Bitfinex if I were from Norway or Australia? I'm clueless.
As a non-US citizen it is just as easy for me to deposit to Bitfinex as Bitstamp. It’s just a different SWIFT address. And it’s cheaper than Bitstamp so very attractive. The only difference is that BFX has a US$10,000 minimum to keep out the noobs.