4 ms·

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 eith

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...

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...