Community Trust ScoreVerified
Tether has always been fully backed, and the assurance opinion made available today confirms it once again, and puts Tether ahead of the industry on transparency.
Community Discussions: Those who have some experiences with Tether feel that more people should be outraged by Tether. They are literally printing fake money (without reserves), buying people’s Bitcoin. Then, when the Tether Ponzi collapses, they leave Tether holders holding the bag and run away with the Bitcoin. This is massive scale fraud and theft.
If Tether collapses, so will BTC. Maybe in the short-term, but a lot will lose their money. Probably, the only reason SEC is cautious. Who wants to be the one that causes all that loss?
Really, I think I know very much how this works. First, blindly trust Tether at your own cost. Right, so ask yourself where a lot of the liquidity of BTC comes from, and then let’s discuss.
Troll: Please silence the critics by adopting a decentralized method to provide your reserve status’s live and ongoing clarity and transparency. Examples to explore to help with this are Chainlink’s Proof of Reserve. You can quickly implement proof of reserve functionality via Chainlink, and everyone can confirm the validity of your statement.
The year is 2050 & Tether is still convincing everyone. Boys, the Tether train continues. The community is wondering whether the Tether audit is by a reputable organization? They could easily hire a reputable accounting firm to conduct an audit if they were legitimate, but they can’t because they’re backed by air and likely fraudulent Chinese commercial paper. PRODUCE AN AUDIT!
But they don’t want to disclose where their Commercial Papers come from for “privacy reasons.”
Moore: “notes in Appendix 2 … we do not express an opinion or provide any assurance on it.” Appendix 2: “All Tether tokens are backed by an equivalent amount of assets held in reserves by the consolidated group.” The community was like, LOL, what?
Tether is backed, only not by cash. They keep in cash only about 3% of the investor’s money. Their history is shady. I am not willing to risk anything with them. If you want regulated stablecoin, then use BUSD or PAX.
The biggest joke of the year. Tether WILL NOT GET USD as the right stablecoin. Enough confirmed debt on paper. In addition, Tether buys crypto himself. You say how much you had BTC at 64k, how much at 28k, and how much now. Thanks!
