Tether creating a #gold backed crypto feels fundamentally contradictory. Gold bugs (especially the ones I know) like gold precisely because it’s physical, analog, and doesn’t require trusting digital systems (the exact opposite of crypto). As wealth transfers to millennials, they’re far more likely to buy bitcoin than “tokenized gold” being that they are digitally native. This gold backed crypto seems misaligned with both audiences. Also, fuck Peter Schiff.