8 ms·

They no longer claim to provide audits.

• darawk 8y ago
  The fact of the matter is the market continues to value Tether at $1, despite having multiple alternatives. So, even if it is the case that Tether is insolvent...it was still a much better investment than leaving the money in regular crypto. QED.
  • village-idiot 8y ago
    Markets also valued beanie babies highly for a while. Pretending that markets are purely rational is going to get you hurt. If the case is that Tether is actually insolvent, then history gives us a very good example of exactly what’ll happen once the run starts.
    • darawk 8y ago
      > Markets also valued beanie babies highly for a while. Pretending that markets are purely rational is going to get you hurt. My point isn't that the market is rational or perfect. My point is that they could have hedged.
      • village-idiot 8y ago
        Almost impossible to do when the markets are rigged. I believe for a while Bitfinex would let you wash trade with your own account, that’s how poorly run these markets were.