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Im sure the conspiracies will continue unabated despite Goldman Sachs buying the largest tether exchange in the US. There's a certain hivemind around tether th

Im sure the conspiracies will continue unabated despite Goldman Sachs buying the largest tether exchange in the US. There's a certain hivemind around tether that wont necessarily be convinced by the due diligence on a large deal. For some that Goldman is involved is only more evidence. Tether is a lesson in not believing the commonly accepted "truths" in online forums. Paid comments and self-interest abounds. Reader beware.

wepple 9y ago
Claiming that people who don’t love tether are “Paid comments” is especially weak coming from a 27-day-old HN account. They’ve taken a lot of regular folks money and provided no confidence to date that they’re solvent.
- ShorsHammer 9y ago
  Having faced the wrath of a real name associated with comments on cryptocurrency and especially tether I'll happily wear the month old badge. It was implied to not trust any comments including mine, account age doesnt seem to be a problem for such statements. Online sentiment is purchasable, many icos offer pay-per-comment schemes and unsuspecting people read enough sockpuppet comments eventually believing it as fact, this is not contained to cryptocurrency and I worry when it seriously spreads to more important parts of modern life. > provided no confidence to date that they’re solvent. Goldman Sachs just bought a good fraction of all tether in existence for hundreds of millions, does this not say something? Please check my other comment here for a proposition.
  - Nursie 9y ago
    >> Goldman Sachs just bought a good fraction of all tether in existence for hundreds of millions, does this not say something? It still doesn't say 'audit', which is claimed right there on the tether homepage
    - ShorsHammer 9y ago
      USDT is the equivalent of a bitcoin short, Tether the company is on the other end of that trade, look at a yearly chart and think about it, have often said a serious bitcoin correction is the real test of their financial management. That's now occured, it's clear they can handle the sort of % collapse that would decimate financial institutions approved by regulators (see Swiss currency movements bankrupting regulator approved companies far across the globe) They operate in a grey area of international law that often falls outside the world police grasp, this obviously upsets the world police. There's more to tether than meets the eye, one day it will be a study into online misinformation.
      - Nursie 9y ago
        Wow, the world police. I hate those guys. This is just more misdirection. Tether claim frequent audits yet have never had one. That's a straight up lie.
        ShorsHammer 9y ago
        You claim misdirection yet haven't responded to a single one of my claims and raised the audit matter entirely seperately. Goldman Sachs just bought a company with $200m worth of Tether liabilities. I'm sensing some cognitive dissonance from the usual tether-doom crowd about that fact. https://wallet.tether.to/richlist https://wallet.tether.to/richlist
        Nursie 9y ago
        >> You claim misdirection yet haven't responded to a single one of my claims and raised the audit matter entirely seperately. Nope, didn't. I said there were no audits, you did some handwaving, I repeated that there have been no audits. >> Goldman Sachs just bought a company No, they didn't. This is predictable and irritating. A startup which was already in the cryptocurrency space, in which Goldman had invested 50 million (alongside another 150 million from other parties), bought Poloniex. Goldman did not. Learn to actually read the news. Goldman do not fully or even 50% own Circle.
  - sitepodmatt 9y ago
    Goldman Sachs didn't buy anything. That's like saying I'm about to buy to Qualcomm because I own a few shares in Broadcom (or vice versa depending on who is buying who). The purchaser, Circle, didn't buy tether either, they are a custodian of various cryptocurrencies tokens on behalf of users, by your same logic GS just endorsed BitConnect (presuming it's still trading, but we can replace with any other shitcoin traded on the platform).
    - ShorsHammer 9y ago
      > That's like saying I'm about to buy to Qualcomm because I own a few shares in Broadcom But that's exactly what you are about to do as part owner of Broadcom. I would certainly say that, this is how equity works. GS/Circle now have over $200M of Tether liabilities on their books. Now step back for a moment and ask yourself who has more grasp on the financials of the situation: The acquisitions team of a half billion dollar deal or a group of internet commentators?
      - deleted 9y ago
        [deleted]
sitepodmatt 9y ago
if it walks like a duck... Here's how I see it play out in the next few months 1) Circle decides to pull away from USDT 2) Clients are given a choice to either move USDT to their own off-exchange wallet or allow Circle to attempt to convert to fiat, no further other trading is allowed during this cancellation period. Circle then freezes remaining USDT wallets and tries to redeem them to USD with Tether Inc to settle with clients in USD. 3) Tether Inc can't support the withdrawl request, thankfully though the T&C say they dont have to. 4) Shit hits the fan. 5) It becomes evident where the "paid comments" and "self-interests abound" align Lesson: https://www.youtube.com/watch?v=dErRj6V8_xQ https://www.youtube.com/watch?v=dErRj6V8_xQ
- ShorsHammer 9y ago
  Care to place a bet on tether going insolvent within your specified timeframe? Believe theres a few 3rd party betting intermediaries for cryptocurrencies if you or anyone else is keen. I have no inside info about their finances other than a gut feeling about the campaign against them. Would love to see some commentators put their money where their mouth is. Happy to negotiate longer timeframes.
  - sitepodmatt 9y ago
    I think it's important to define who Tether is exactly? DUNS? You're talking about a possible entity where I can't even find an address for the corporation in Hong Kong or any accounts, nor a telephone number, nor a company registration number. How exactly are you going to verify solvency or insolvency?
    - ShorsHammer 9y ago
      Tether is registered in the British Virgin Isles and subject to BVI law which clearly defines solvency. There's actually two entities[1], one is for US clients(TLTD) and another for international clients (TIL), insolvency of either is a clear enough outcome for me. [1] https://tether.to/legal/ https://tether.to/legal/ See also: https://en.wikipedia.org/wiki/British_Virgin_Islands_bankruptcy_law https://en.wikipedia.org/wiki/British_Virgin_Islands_bankrup...

wepple 9y ago

Claiming that people who don’t love tether are “Paid comments” is especially weak coming from a 27-day-old HN account. They’ve taken a lot of regular folks money and provided no confidence to date that they’re solvent.

ShorsHammer 9y ago
Having faced the wrath of a real name associated with comments on cryptocurrency and especially tether I'll happily wear the month old badge. It was implied to not trust any comments including mine, account age doesnt seem to be a problem for such statements. Online sentiment is purchasable, many icos offer pay-per-comment schemes and unsuspecting people read enough sockpuppet comments eventually believing it as fact, this is not contained to cryptocurrency and I worry when it seriously spreads to more important parts of modern life. > provided no confidence to date that they’re solvent. Goldman Sachs just bought a good fraction of all tether in existence for hundreds of millions, does this not say something? Please check my other comment here for a proposition.
- Nursie 9y ago
  >> Goldman Sachs just bought a good fraction of all tether in existence for hundreds of millions, does this not say something? It still doesn't say 'audit', which is claimed right there on the tether homepage
  - ShorsHammer 9y ago
    USDT is the equivalent of a bitcoin short, Tether the company is on the other end of that trade, look at a yearly chart and think about it, have often said a serious bitcoin correction is the real test of their financial management. That's now occured, it's clear they can handle the sort of % collapse that would decimate financial institutions approved by regulators (see Swiss currency movements bankrupting regulator approved companies far across the globe) They operate in a grey area of international law that often falls outside the world police grasp, this obviously upsets the world police. There's more to tether than meets the eye, one day it will be a study into online misinformation.
    - Nursie 9y ago
      Wow, the world police. I hate those guys. This is just more misdirection. Tether claim frequent audits yet have never had one. That's a straight up lie.
      - ShorsHammer 9y ago
        You claim misdirection yet haven't responded to a single one of my claims and raised the audit matter entirely seperately. Goldman Sachs just bought a company with $200m worth of Tether liabilities. I'm sensing some cognitive dissonance from the usual tether-doom crowd about that fact. https://wallet.tether.to/richlist https://wallet.tether.to/richlist
        Nursie 9y ago
        >> You claim misdirection yet haven't responded to a single one of my claims and raised the audit matter entirely seperately. Nope, didn't. I said there were no audits, you did some handwaving, I repeated that there have been no audits. >> Goldman Sachs just bought a company No, they didn't. This is predictable and irritating. A startup which was already in the cryptocurrency space, in which Goldman had invested 50 million (alongside another 150 million from other parties), bought Poloniex. Goldman did not. Learn to actually read the news. Goldman do not fully or even 50% own Circle.
- sitepodmatt 9y ago
  Goldman Sachs didn't buy anything. That's like saying I'm about to buy to Qualcomm because I own a few shares in Broadcom (or vice versa depending on who is buying who). The purchaser, Circle, didn't buy tether either, they are a custodian of various cryptocurrencies tokens on behalf of users, by your same logic GS just endorsed BitConnect (presuming it's still trading, but we can replace with any other shitcoin traded on the platform).
  - ShorsHammer 9y ago
    > That's like saying I'm about to buy to Qualcomm because I own a few shares in Broadcom But that's exactly what you are about to do as part owner of Broadcom. I would certainly say that, this is how equity works. GS/Circle now have over $200M of Tether liabilities on their books. Now step back for a moment and ask yourself who has more grasp on the financials of the situation: The acquisitions team of a half billion dollar deal or a group of internet commentators?
    - deleted 9y ago
      [deleted]

sitepodmatt 9y ago

if it walks like a duck... Here's how I see it play out in the next few months 1) Circle decides to pull away from USDT 2) Clients are given a choice to either move USDT to their own off-exchange wallet or allow Circle to attempt to convert to fiat, no further other trading is allowed during this cancellation period. Circle then freezes remaining USDT wallets and tries to redeem them to USD with Tether Inc to settle with clients in USD. 3) Tether Inc can't support the withdrawl request, thankfully though the T&C say they dont have to. 4) Shit hits the fan. 5) It becomes evident where the "paid comments" and "self-interests abound" align Lesson: https://www.youtube.com/watch?v=dErRj6V8_xQ https://www.youtube.com/watch?v=dErRj6V8_xQ

ShorsHammer 9y ago
Care to place a bet on tether going insolvent within your specified timeframe? Believe theres a few 3rd party betting intermediaries for cryptocurrencies if you or anyone else is keen. I have no inside info about their finances other than a gut feeling about the campaign against them. Would love to see some commentators put their money where their mouth is. Happy to negotiate longer timeframes.
- sitepodmatt 9y ago
  I think it's important to define who Tether is exactly? DUNS? You're talking about a possible entity where I can't even find an address for the corporation in Hong Kong or any accounts, nor a telephone number, nor a company registration number. How exactly are you going to verify solvency or insolvency?
  - ShorsHammer 9y ago
    Tether is registered in the British Virgin Isles and subject to BVI law which clearly defines solvency. There's actually two entities[1], one is for US clients(TLTD) and another for international clients (TIL), insolvency of either is a clear enough outcome for me. [1] https://tether.to/legal/ https://tether.to/legal/ See also: https://en.wikipedia.org/wiki/British_Virgin_Islands_bankruptcy_law https://en.wikipedia.org/wiki/British_Virgin_Islands_bankrup...