with your logic you can also not “redeem” then dollars for physical goods.
so you cant “redeem” tethers for dollars and you cant “redeem” dollars for goods.
but everything is backed up by numbers (dollars) or cryptographic codes.
And that what i call BS, if you try make your argument.
the only thing i see here, that its more “risky” to trust the issuer of USDT then of USD.
The alternative is to back up the USD with cryptocoins and you dont want to go this way? Right.
So i call your bitfinex panic BS. But you are having your agenda, so continue, please, just without me.