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There's a lot of FUD, but very little evidence of wrongdoing. It seems mostly like one person on a campaign to discredit Bitfinex because of some grudge. https://twitter.com/Bitfinexed is the person spreading the FUD, they're also shitposting all over Reddit and elsewhere. Seems like now the 'media' is going along for the ride and enjoying the ad revenue.
Earlier quoted context omitted.
I don't understand this. How can you store the USD reserves inside the blockchain? AFAIK the blockchain can only keep track of the cryto-tokens, not of the real money.
The reserve will be in Ethereum (and possibly also in ERC20 tokens like OMG), not USD. You buy Unum using these other cryptocurrencies, and can always sell Unum to buy anything in the reserve, always at the current USD spot price. This of course raises the possibility of the USD value of the reserve falling below the # of issued Unum. In that case, a sale penalty goes into affect, to discourage selling and increasing…
- Buying Unum is a lose-lose situation. If the USD price of Ether goes down you redeem your Unum for less than you paid for it. If the price of Ether goes up, you redeem your Unum for less than if you just had bought Ether instead.
- Why bother tethering a cryptocurrenvy to Ether instead of just using Ether directly?
- Who determines what is the spot price of Ether at any given moment?
- Unum can be bought for 0.99 USD during "Bonus Sales", which goes against the whole point of it.
tl;dr: this is a terrible idea at best, and a total scam at worst.
What is that style of art/animation the video uses? I feel its aesthetic is really 'greasy', kinda covered in grime from cigarettes. I've seen it before in order graphic design.
There's a lot of FUD, but very little evidence of wrongdoing. It seems mostly like one person on a campaign to discredit Bitfinex because of some grudge. https://twitter.com/Bitfinexed is the person spreading the FUD, they're also shitposting all over Reddit and elsewhere. Seems like now the 'media' is going along for the ride and enjoying the ad revenue.
Whether the accusations are true or not, I wouldn't hold a single dollar in Tether after reading this on their website: > “There is no contractual right or other right or legal claim against us to redeem or exchange your tethers for money. We do not guarantee any right of redemption or exchange of tethers by us for money.”
There's a lot of FUD, but very little evidence of wrongdoing. It seems mostly like one person on a campaign to discredit Bitfinex because of some grudge. https://twitter.com/Bitfinexed is the person spreading the FUD, they're also shitposting all over Reddit and elsewhere. Seems like now the 'media' is going along for the ride and enjoying the ad revenue.
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I have never used Bitfinex, and do not own any USDT.
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This "FUD" could be easily dismissed by showing a bank account statement containing these $814M. The fact that Bitfinex doesn't do that means they have something to hide or are in serious trouble.
No, it's pretty normal for private companies not to share that kind of data.
There's a lot of FUD, but very little evidence of wrongdoing. It seems mostly like one person on a campaign to discredit Bitfinex because of some grudge. https://twitter.com/Bitfinexed is the person spreading the FUD, they're also shitposting all over Reddit and elsewhere. Seems like now the 'media' is going along for the ride and enjoying the ad revenue.
[flagged]
Earlier quoted context omitted.
Can you give me the tldr what a normal person would use this for or what it accomplishes?
For a normal person/business to ever use a cryptocurrency, there needs to be one that is price stable. Meaning it's going to be worth the same $ tomorrow that it's worth today. Imagine if you could send money anywhere, with almost no fees. That was the dream of bitcoin, but currently bitcoin fees are crazy high, and the community isn't close to solving it yet. Ethereum seems to be more scalable and has a benevolent d…
Earlier quoted context omitted.
This "FUD" could be easily dismissed by showing a bank account statement containing these $814M. The fact that Bitfinex doesn't do that means they have something to hide or are in serious trouble.
No, it's pretty normal for private companies not to share that kind of data.
My latest side-project is an alternative to Tether (the "mystery" in the title). It's similar in that the currency is pegged to the dollar, but it's implemented as a smart contract on the Ethereum block chain, so the reserve (held by the smart contract and not touchable by me) is instantly auditable. https://unum.one The code is open source and can be found here: https://github.com/unumone/unum If anyone wants to hel…
I am flagging you again since this is the second time I see a clickjacking[1] and investors could think that you are pegging your cryptocurrency to fiat currency when indeed is something completely different. [1] https://news.ycombinator.com/item?id=15796016
If you have information that this project is unethical, please spill it. Otherwise, please don't flag comments like this. It's clearly of interest to hackers and thus is appropriate on HN.
Edit: Also, as others have pointed out, you're misusing the term "clickjacking".