Warning: don't hold tether, don't use lock(tm) - Printable Version
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+--- Thread: Warning: don't hold tether, don't use lock(tm) (/thread-66452.html)
Warning: don't hold tether, don't use lock(tm) - godfather dust - 12-30-2017
https://medium.com/@untetheredbtc/how-th...a5c673bec0
Read the article. In summary:
Tether is not backed by USD, potentially worthless.
Lock™ does not back crypto currency to dollars, it converts it to tether.
Company that creates tether gets audited early January.
Based on this article and other sources (such as bitfinexed on Twitter https://mobile.twitter.com/bitfinexed?lang=en ) I would dump all tether immediately.
Warning: don't hold tether, don't use lock(tm) - godfather dust - 12-30-2017
https://medium.com/@michaelx777/is-tethe...b29fdc2b74
https://medium.com/@bitfinexed/bitfinex-...a9291add29
Couple more articles
Warning: don't hold tether, don't use lock(tm) - Valentine - 12-30-2017
Quote: (12-30-2017 02:03 AM)godfather dust Wrote:
Company that creates tether gets audited early January.
Source?
Warning: don't hold tether, don't use lock(tm) - Lampwick - 12-30-2017
Quote: (12-30-2017 07:09 AM)Valentine Wrote:
Quote: (12-30-2017 02:03 AM)godfather dust Wrote:
Company that creates tether gets audited early January.
Source?
The first link has a call to action for the community to perform "audits":
Quote:Quote:
EXTERNAL TETHER AUDIT is planned for 2 Jan 2018!
EXTERNAL USD AUDIT is planned for 6 Feb 2018!
The idea is for a bunch of people to withdraw fiat from an exchange all at the same time, thereby testing the exchange's liquidity. The first one is for Bitfinex/Tether. The second one is for all major exchanges.
Here's my question: if the allegations are true, there will be fallout. Hypothetically, where would you prefer to have your money invested when it happens?
Warning: don't hold tether, don't use lock(tm) - SamuelBRoberts - 12-30-2017
Can someone wth more patience for low-grade FUD than me explain how they're going to withdraw tethers when the entire point of the tether conspiracy is that you can't withdraw tether?
Warning: don't hold tether, don't use lock(tm) - kuros - 01-04-2018
Tether is some air that fills the need for very fast transactions on the trading websites.
Tether is not backed by anything and of course it will be the cause of the Bitfinex incoming crash