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Cool. So you clearly have no idea what an attestation is, or why the fact that it's not an audit is so important. > Nonetheless, they have been done by indepen

Cool. So you clearly have no idea what an attestation is, or why the fact that it's not an audit is so important. > Nonetheless, they have been done by independent third-parties who are a lot more reputed than whatever has actually managed to look into Tether's data. Like the New York Attorney General? Go read the NYAG settlement. Tether got an attestation by wiring in $850m of Bitfinex's cash to their account the morning before an attestation, and then wiring it back to Bitfinex immediately after. The attestations merely state certain very shallow facts like "at this point in time, there were $X assets in an account". They do not audit the source and ultimate ownership of those things. Look man, I get that you want someone to pump your bags. But sometimes it's best to just bite your tongue. Tether doesn't have any defense. They may be totally legit, and if they are, it's totally indefensible to act this way. And if they're not legit, well...

rglullis 5y ago
> Tether doesn't have any defense I am not defending Tether, quite the opposite. My only argument is in favor of Circle, and even then admittedly in terms of "Circle at least provides a better sense of legitimacy". > I get that you want someone to pump your bags. Sure, I will make a fortune by shilling USDC. /s Anyway, you are right. I was under the impression that Circle was doing proper audits, and if that is not true, we need more people and exchanges pressuring them to do or to stop using it.
- qeternity 5y ago
  > I am not defending Tether, quite the opposite. My only argument is in favor of Circle, and even then admittedly in terms of "Circle at least provides a better sense of legitimacy". My bad, lost my sense of bearing in a Tether thread. I agree with you here, and for the blockchain work I do, I use USDC. Appreciate the rest of your comments. Didn't mean to jump on you.

rglullis 5y ago

> Tether doesn't have any defense I am not defending Tether, quite the opposite. My only argument is in favor of Circle, and even then admittedly in terms of "Circle at least provides a better sense of legitimacy". > I get that you want someone to pump your bags. Sure, I will make a fortune by shilling USDC. /s Anyway, you are right. I was under the impression that Circle was doing proper audits, and if that is not true, we need more people and exchanges pressuring them to do or to stop using it.

qeternity 5y ago
> I am not defending Tether, quite the opposite. My only argument is in favor of Circle, and even then admittedly in terms of "Circle at least provides a better sense of legitimacy". My bad, lost my sense of bearing in a Tether thread. I agree with you here, and for the blockchain work I do, I use USDC. Appreciate the rest of your comments. Didn't mean to jump on you.