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I haven't seen anyone defending Tether in a really long time

graeme 5y ago
You can find plenty on twitter. E.g. https://twitter.com/BrutalTrade/status/1449035910658600969 https://twitter.com/BrutalTrade/status/1449035910658600969 Some are paid bots but some are real
loeg 5y ago
> I haven't seen anyone defending Tether in a really long time Check out comments in this discussion by bpodgursky and vmception, for example. Similar comments come out in every Tether article on HN.
- ur-whale 5y ago
  > Check out comments in this discussion by bpodgursky Here's one from bpodgursky: >My stance has always been "Tether is a scam, Not sure how that's "defending" Tether.
  - loeg 5y ago
    The full context, which you have chosen to elide, is clearly defensive of Tether[1]: > Tether is a scam, but no worse than the US dollar and normal banking fractional reserves... and even if it collapses, who cares, [1]: https://news.ycombinator.com/item?id=28880411 https://news.ycombinator.com/item?id=28880411
    - ur-whale 5y ago
      It's not, he's simply pointing out that there's even bigger scam out there. That's not the same thing as defending Tether.
      - graeme 5y ago
        It is defending Tether, because he is wrong. Some things are worse than other things. Fraud is worse than the Fed. No one sensible would claim the Fed is as bad as, say, Bernie Madoff. Formally, his tactic is known as “whataboutism”
        ur-whale 5y ago
        > No one sensible would claim the Fed is as bad as, say, Bernie Madoff. Give it a couple of decades.
      - loeg 5y ago
        Making comparisons to a perceived bigger problem is a defensive statement. The implication in this kind of comparison is that because Y is worse than X, that somehow ameliorates the harm of X. This is reinforced by the "who cares" remark.
- loeg 5y ago
  Or also matheusmoreira in the other parallel discussion on the same news. Again, this kind of stuff shows up on every Tether article.
deleted 5y ago
[deleted]
SilasX 5y ago
"Defend" is a four letter word; I wouldn't paint with such a broad brush. I hold the position that you need to be careful to distinguish between a) "every Tether statement is true/in good faith" vs "b) Tether will fail to produce sufficient backing value, sending crypto into a secular crash", and that a) is false but b) is false as well. That is enough to get me labeled a "defender" in some contexts. Disclosure: I hold liquidity pools that have Tether and have borrowed Tether against BTC via DeFi.
acjohnson55 5y ago
Has Sam Bankman-Fried changed his tune? Last I heard on Odd Lots, he was conceding that their optics were poor, but still seemed to claim that they were legit.

You can find plenty on twitter. E.g. https://twitter.com/BrutalTrade/status/1449035910658600969 https://twitter.com/BrutalTrade/status/1449035910658600969 Some are paid bots but some are real

loeg 5y ago

> I haven't seen anyone defending Tether in a really long time Check out comments in this discussion by bpodgursky and vmception, for example. Similar comments come out in every Tether article on HN.

ur-whale 5y ago
> Check out comments in this discussion by bpodgursky Here's one from bpodgursky: >My stance has always been "Tether is a scam, Not sure how that's "defending" Tether.
- loeg 5y ago
  The full context, which you have chosen to elide, is clearly defensive of Tether[1]: > Tether is a scam, but no worse than the US dollar and normal banking fractional reserves... and even if it collapses, who cares, [1]: https://news.ycombinator.com/item?id=28880411 https://news.ycombinator.com/item?id=28880411
  - ur-whale 5y ago
    It's not, he's simply pointing out that there's even bigger scam out there. That's not the same thing as defending Tether.
    - graeme 5y ago
      It is defending Tether, because he is wrong. Some things are worse than other things. Fraud is worse than the Fed. No one sensible would claim the Fed is as bad as, say, Bernie Madoff. Formally, his tactic is known as “whataboutism”
      - ur-whale 5y ago
        > No one sensible would claim the Fed is as bad as, say, Bernie Madoff. Give it a couple of decades.
    - loeg 5y ago
      Making comparisons to a perceived bigger problem is a defensive statement. The implication in this kind of comparison is that because Y is worse than X, that somehow ameliorates the harm of X. This is reinforced by the "who cares" remark.
loeg 5y ago
Or also matheusmoreira in the other parallel discussion on the same news. Again, this kind of stuff shows up on every Tether article.

deleted 5y ago

[deleted]

SilasX 5y ago

"Defend" is a four letter word; I wouldn't paint with such a broad brush. I hold the position that you need to be careful to distinguish between a) "every Tether statement is true/in good faith" vs "b) Tether will fail to produce sufficient backing value, sending crypto into a secular crash", and that a) is false but b) is false as well. That is enough to get me labeled a "defender" in some contexts. Disclosure: I hold liquidity pools that have Tether and have borrowed Tether against BTC via DeFi.

acjohnson55 5y ago

Has Sam Bankman-Fried changed his tune? Last I heard on Odd Lots, he was conceding that their optics were poor, but still seemed to claim that they were legit.