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Regarding this "print": https://twitter.com/paoloardoino/status/1467504705857335302?s=20 https://twitter.com/paoloardoino/status/1467504705857335302?... "PSA:

by wc- 5y ago

Regarding this "print": https://twitter.com/paoloardoino/status/1467504705857335302?s=20 https://twitter.com/paoloardoino/status/1467504705857335302?... "PSA: 1B USDt inventory replenish on Tron Network. Note this is a authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps." The tether CTO routinely comments on these seemingly large moves because people get very worked up about them. Why does tether seem to bring out the tinfoil theories from people that have absolutely 0 background in finance or crypto market structure or econ in general.

wmf 5y ago
Tether could allay these concerns by getting audited and cleaning up all the investigations against them.
- FDSGSG 5y ago
  > cleaning up all the investigations against them This makes it pretty obvious that you're not arguing in good faith. I guess you would have given Steven Hatfill or Wen Ho Lee the same advice?
  - qeternity 5y ago
    Lol Tether's own attestations make mention of the numerous open investigations. There's no good faith argument to be had. It's just a matter of fact.
    - FDSGSG 5y ago
      The idea that one could just "clean up" government investigations is downright ridiculous. That's not how it works, no matter how innocent you may be.
      - qeternity 5y ago
        You might be attaching some temporal qualities to the phrasing, but that's not how I read the comment. Generally, if you want to make a government investigation go away, you cooperate by demonstrating your innocence. Of course, it's the government's job to prove guilt, but usually good actors have an abundance of mitigating evidence at their disposal, and it's usually just easier to say "here's the evidence, we're not guilty".
        FDSGSG 5y ago
        > but usually good actors have an abundance of mitigating evidence at their disposal You must be joking. That's not how it works when the government has you in their crosshairs. >and it's usually just easier to say "here's the evidence, we're not guilty". And then the government will spend years and millions of dollars trying to poke holes in that evidence of innocence. Anyone who follows the news has seen this repeated over and over again. Various government authorities routinely engage in witch hunts with little evidence. Maybe Mansoor Adayfi should've just provided evidence of his innocence after being shipped to Guantanamo Bay? They would have immediately released him, right? What a stupid guy he must have been that it took the government 14 years to release him.
        qeternity 5y ago
        I am talking about white collar crime, which tends to be much more black and white than terrorism. And no, the government doesn't have a history of spending millions in trying to chase frivolous cases. Has it happened? Sure. But prosecutors are graded on their closure rate which is why you see so many settlements. The last thing they want is to waste millions on a witch hunt. You only see the bad. You say "anyone who follows the news" which means you've probably followed a handful of these...out of the millions of cases which get referred to prosecutors: the vast majority are ignored, the remainder are mostly settled, and a small amount end up in court. Government is a necessary evil, but an evil nonetheless. I'm quite libertarian myself, but let's not concoct ridiculous narratives to affirm our views.
        5y ago
qeternity 5y ago
> Why does tether seem to bring out the tinfoil theories from people that have absolutely 0 background in finance or crypto market structure or econ in general. Hilarious. People with backgrounds in finance are for the most part the group of people that have made an issue about this, myself included. But more curiously, I'm not even sure what you're attempting to to convey with this comment? Do you think that a background in finance, or econ, is necessary to understand the incredibly simple business that Tether operates, and the even simpler reasons of why it is likely problematic (if not an outright fraud)?

by wc- 5y ago

wmf 5y ago

Tether could allay these concerns by getting audited and cleaning up all the investigations against them.

FDSGSG 5y ago
> cleaning up all the investigations against them This makes it pretty obvious that you're not arguing in good faith. I guess you would have given Steven Hatfill or Wen Ho Lee the same advice?
- qeternity 5y ago
  Lol Tether's own attestations make mention of the numerous open investigations. There's no good faith argument to be had. It's just a matter of fact.
  - FDSGSG 5y ago
    The idea that one could just "clean up" government investigations is downright ridiculous. That's not how it works, no matter how innocent you may be.
    - qeternity 5y ago
      You might be attaching some temporal qualities to the phrasing, but that's not how I read the comment. Generally, if you want to make a government investigation go away, you cooperate by demonstrating your innocence. Of course, it's the government's job to prove guilt, but usually good actors have an abundance of mitigating evidence at their disposal, and it's usually just easier to say "here's the evidence, we're not guilty".
      - FDSGSG 5y ago
        > but usually good actors have an abundance of mitigating evidence at their disposal You must be joking. That's not how it works when the government has you in their crosshairs. >and it's usually just easier to say "here's the evidence, we're not guilty". And then the government will spend years and millions of dollars trying to poke holes in that evidence of innocence. Anyone who follows the news has seen this repeated over and over again. Various government authorities routinely engage in witch hunts with little evidence. Maybe Mansoor Adayfi should've just provided evidence of his innocence after being shipped to Guantanamo Bay? They would have immediately released him, right? What a stupid guy he must have been that it took the government 14 years to release him.
        qeternity 5y ago
        I am talking about white collar crime, which tends to be much more black and white than terrorism. And no, the government doesn't have a history of spending millions in trying to chase frivolous cases. Has it happened? Sure. But prosecutors are graded on their closure rate which is why you see so many settlements. The last thing they want is to waste millions on a witch hunt. You only see the bad. You say "anyone who follows the news" which means you've probably followed a handful of these...out of the millions of cases which get referred to prosecutors: the vast majority are ignored, the remainder are mostly settled, and a small amount end up in court. Government is a necessary evil, but an evil nonetheless. I'm quite libertarian myself, but let's not concoct ridiculous narratives to affirm our views.
        5y ago

qeternity 5y ago

> Why does tether seem to bring out the tinfoil theories from people that have absolutely 0 background in finance or crypto market structure or econ in general. Hilarious. People with backgrounds in finance are for the most part the group of people that have made an issue about this, myself included. But more curiously, I'm not even sure what you're attempting to to convey with this comment? Do you think that a background in finance, or econ, is necessary to understand the incredibly simple business that Tether operates, and the even simpler reasons of why it is likely problematic (if not an outright fraud)?