Roosh V Forum / Main / Life v / Warning: don't hold tether, don't use lock(tm)
Post Reply 
Warning: don't hold tether, don't use lock(tm)
Author Message
godfather dust Away
True Player
*****
Gold Member

Posts: 2,452
Joined: Jul 2014
Reputation: 17
Post: #1
Warning: don't hold tether, don't use lock(tm)
https://medium.com/@untetheredbtc/how-th...a5c673bec0

Read the article. In summary:
Tether is not backed by USD, potentially worthless.

Lock™ does not back crypto currency to dollars, it converts it to tether.

Company that creates tether gets audited early January.

Based on this article and other sources (such as bitfinexed on Twitter https://mobile.twitter.com/bitfinexed?lang=en ) I would dump all tether immediately.
12-30-2017 02:03 AM
Find all posts by this user Like Post Quote this message in a reply
godfather dust Away
True Player
*****
Gold Member

Posts: 2,452
Joined: Jul 2014
Reputation: 17
Post: #2
RE: Warning: don't hold tether, don't use lock(tm)
12-30-2017 03:26 AM
Find all posts by this user Like Post Quote this message in a reply
Valentine Offline
Wingman
***
Gold Member

Posts: 906
Joined: May 2013
Reputation: 43
Post: #3
RE: Warning: don't hold tether, don't use lock(tm)
(12-30-2017 02:03 AM)godfather dust Wrote:  Company that creates tether gets audited early January.

Source?
12-30-2017 07:09 AM
Find all posts by this user Like Post Quote this message in a reply
Lampwick Offline
Recovering Beta
*
Gold Member

Posts: 191
Joined: Aug 2017
Reputation: 12
Post: #4
RE: Warning: don't hold tether, don't use lock(tm)
(12-30-2017 07:09 AM)Valentine Wrote:  
(12-30-2017 02:03 AM)godfather dust Wrote:  Company that creates tether gets audited early January.

Source?

The first link has a call to action for the community to perform "audits":

Quote:EXTERNAL TETHER AUDIT is planned for 2 Jan 2018!
EXTERNAL USD AUDIT is planned for 6 Feb 2018!

The idea is for a bunch of people to withdraw fiat from an exchange all at the same time, thereby testing the exchange's liquidity. The first one is for Bitfinex/Tether. The second one is for all major exchanges.

Here's my question: if the allegations are true, there will be fallout. Hypothetically, where would you prefer to have your money invested when it happens?
12-30-2017 07:28 AM
Find all posts by this user Like Post Quote this message in a reply
SamuelBRoberts Offline
International Playboy
******
Gold Member

Posts: 4,836
Joined: Oct 2014
Reputation: 93
Post: #5
RE: Warning: don't hold tether, don't use lock(tm)
Can someone wth more patience for low-grade FUD than me explain how they're going to withdraw tethers when the entire point of the tether conspiracy is that you can't withdraw tether?
Datasheets: Stretches for Better Posture, Sous-Vide Cooking
12-30-2017 09:39 AM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes SamuelBRoberts's post:
bucky
kuros Offline
Banned

Posts: 70
Joined: Nov 2017
Post: #6
RE: Warning: don't hold tether, don't use lock(tm)
Tether is some air that fills the need for very fast transactions on the trading websites.

Tether is not backed by anything and of course it will be the cause of the Bitfinex incoming crash
01-04-2018 11:58 AM
Find all posts by this user Like Post Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  A warning to you younger men, wear earplugs or you might develop hyperacusis LINUX 48 6,270 04-02-2019 07:14 AM
Last Post: nomadbrah
  [Investing]  Hold or sell? ElJefe 6 792 01-08-2019 03:25 PM
Last Post: Seadog
  Got the HIV... Warning to RVFers wrapyojunk 321 39,790 10-27-2018 12:20 PM
Last Post: jacknap

Forum Jump:


User(s) browsing this thread: 1 Guest(s)

Contact Us | RooshV.com | Return to Top | Return to Content | Mobile Version | RSS Syndication