Anyone Seen Tether’s Billions?

Post by jvilleBrat » Fri, Oct 08, 2021, 7:46 PM UTC

adflux wrote: post #136

Ice_cream_suit wrote: post #120

LOL ! "The chief financial officer is Giancarlo Devasini, a former plastic surgeon from Italy who was once described on Tether’s website as the founder of a successful electronics business. The only reference to him that turned up in a search of Italian newspapers showed he was once fined for selling counterfeit Microsoft software. Elsewhere on the website, there’s a letter from an accounting firm stating that Tether…

Tether most likely holding CHINESE paper. The kind that probably lost a lot of value in the past weeks. Follow BennettTomlin on Twitter, he has been researching tether for years.

Post by htrp » Fri, Oct 08, 2021, 8:14 PM UTC

jaggederest wrote: post #97

NelsonMinar wrote: post #72

Earlier quoted context omitted.

Like I said, USDC is not dollars. If you're betting on Tether collapsing you sure as hell aren't going to take payment on that bet in USDC.

It's like people didn't live through 2008 and discover the magic phrase "counterparty risk", or something. I guess that was 13 years ago, so maybe they didn't.

Post by Bombthecat » Fri, Oct 08, 2021, 9:51 PM UTC

NelsonMinar wrote: post #28

I don't understand how Tether has survived this long. Bitfinex and Tether sure look transparently like a fraud, all the way back to the "no really we have $1 in the bank for every Tether but you can't audit us" days. And yet it continues to occupy its role as the underpinning of most cryptocurrency markets. Why hasn't it blown up yet? My best guess is that it's useful to everyone taking in money from new retail inves…

Post by ngcc_hk » Fri, Oct 08, 2021, 9:58 PM UTC

Ice_cream_suit wrote: post #120

LOL ! "The chief financial officer is Giancarlo Devasini, a former plastic surgeon from Italy who was once described on Tether’s website as the founder of a successful electronics business. The only reference to him that turned up in a search of Italian newspapers showed he was once fined for selling counterfeit Microsoft software. Elsewhere on the website, there’s a letter from an accounting firm stating that Tether…

Post by spiralx » Fri, Oct 08, 2021, 10:20 PM UTC

johanneskanybal wrote: post #364

wpietri wrote: post #207

Earlier quoted context omitted.

> I keep waiting for Yakety Sax to start playing, but to the true believers, it never does, and apparently all us nay-sayers are just neanderthal and don't see "the vision". It reminds me of the initial dot-com bubble, where anybody who asked questions was also painted as not getting it. Ditto the mortgage bubble, come to think of it. Then when the inevitable crash comes, nobody apologizes. It's either "who could hav…

I don't think that's fair, these concerns have been around for probably five years plus and get a lot of media attention. As someone invested in this area it does get a bit old and counter productive being scared of the various boogie mens while missing all the enormous upside so far. After all, tether is 3% of total market cap, I think it's fair to say the effect if they disappeared tomorrow would be a bit bigger th…