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Isn't tether the one that screwed up? They are the ones who got stolen from, why do other exchanges have to bend over backwards and issue updates? If the attac
by tfha 9y ago
Isn't tether the one that screwed up? They are the ones who got stolen from, why do other exchanges have to bend over backwards and issue updates?
If the attacker is moving fast enough, exchanges probably can't even respond in time. That shouldn't mean that they lose money. If tether reserves the right to delist coins at any time without much notice, why would you ever consider that a safe asset to accept?
- sanxiyn 9y agoSituation seems analogous to DAO hack. It was DAO who got stolen, Ethereum was fine, no Ethereum software had to bend over backwards to follow hard fork. Still, it seems post-ETH/ETC-fork ETH is doing fine, and sometimes even considered a safe asset to accept.
- ErikHuisman 9y agoProblem is the tether is allready spent. So the exchanges where the tether is spent is paying it out their pockets, no?
- pmorici 9y agoBecause there are two kinds of crypto exchanges. Ones that have banking and can deal directly with government issued fiat currency and those that don't. If you don't have that banking then your pairs are all in USDT. If the Tether/USDT scheme goes to hell those exchanges w/o banking lose out to a degree so I think it is in all their interest to cooperate.
- MichaelGG 9y agoBecause Tether can set the rules since they run the system? Perhaps they will use this as an excuse to claim everyone is tainted and force another haircut?