Tether

Duke, if Tether was audited by KPMG you and the rest of the T-Truthers would only say they were paid off. You have a view that Tether is a scam and there's nothing that's going to change that.

Also, Tether doesn't owe anyone an audit. People are free to use other stable coins, or none, Tether doesn't force anyone to use their product.

 

The big difference is that Bernanke didn't have any personal skin in the game whereas SBF has billions of personal skin in the game. He's rumoured to have made $10b in the last few years. Just think of the lost potential if he'd listened to the Tether Truthers telling him anyday now Tether would implode...

 

I would trust big 4 audit. We not talking about using or not using tethers here, we talking about BitFinex issuing tethers out of thin air and using them to bid up BTC. Just look at data, 80% of BTC trading volume come from tethers and only 20 from real dollars.

 

AIG had a huge skin in the game, and that did not prevent them from issuing all that shit. Do the names Bear Sterns and Lehman Brothers ring any bell??? Top guys there lost billions

 

@RedDuke has no proof. I have been thru this with her.

 

Is it possibile that the theter people use BTC profit to balance out reserve? Would it help legally or even make sense?

 

I htinbk you'll find the reason they issued so much crap was down to the massive personal bonuses paid. And I'm sure that for most of them, those bonuses were far more than their personal shareholdings in AIG.

Anyway, we can go back and forwards on Tether. But I'm going with the opinion of the smartest man in crypto, SBF -

Tether Fudders = always the easiest way to tell apart people who know crypto from the pretenders.

 

look at data. Tethers represent 80 percent of Bitcoin trading volume and issued with 0 proof that they are backed by anything. These are the facts.

 

Wrong. Top managers at Bear and Lehman had billions dollar stakes in their companies, and lost vast majority of their wealth when these firms went under.

another example is how many very smart people invested with Madoff.

best of luck to you!

 

Some more facts;
https://www.theblockcrypto.com/post/95207/bitfinex-tether-new-york-ag-settlement-lawsuit