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A comment on Tether Critical Announcement.

Re:Tether Critical Announcement by dangero on Tuesday November 21, 2017 @01:42AM (#15746129)
I released a paper earlier this year talking about how we can reasonably lock cryptocurrency to fiat, but unfortunately the space is still rather immature. A single provider of USD tokens is extremely dangerous. Best case scenario would be if there were many companies like Tether and you could spread your token purchases between them automatically to minimize counterparty risk. Stellar and Ripple are closest to solving this since they have fiat trading pairs for each trusted exchange on their network. In the future that could mean issuance from hundreds of banks.

Here is the paper if anyone is interested: https://www.gogreenmango.com/whitepapers/Bitcoin-Volatility-...

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Re:Tether Critical Announcement by ActsJuvenile on Tuesday November 21, 2017 @02:01AM (#15746209)
Ripple is a scam and Jed McCaleb has been dumping thousands of Ripples a day since forever. You shouldn't encourage new users to buy Ripples.
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Re:Tether Critical Announcement by krisives on Tuesday November 21, 2017 @02:14AM (#15746255)
Ripple is a scam it also predates Bitcoin entire thing was a sever to server bank basically
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Re:Tether Critical Announcement by Nemant on Tuesday November 21, 2017 @02:34AM (#15746324)
Could you elaborate more on this point?
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Re:Tether Critical Announcement by dangero on Tuesday November 21, 2017 @02:08PM (#15750603)
Ripple the platform is closest to solving the counterparty problems with 1-1 USD tokens. I'm not encouraging people to buy Ripples I'm just stating -- the only way to limit the counterparty risk is to diversify. Banks are perfectly positioned to offer these 1-1 fiat tokens. Ripple is partnering with them.
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Re:Tether Critical Announcement by alwaysnotright on Tuesday November 21, 2017 @09:46AM (#15748119)
Jed McCaleb left Ripple pretty early and started Stellar instead, which is probably why he is dumping Ripple.
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Re:Tether Critical Announcement by jankotek on Tuesday November 21, 2017 @04:54AM (#15746860)
The only reliable way is for central bank to issue its own crypto currency. Stellar / Ripple are not crypto currencies.
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Re:Tether Critical Announcement by dangero on Tuesday November 21, 2017 @02:05PM (#15750579)
Outside of a central bank issuing cryptocurrency, you can remove counterparty risk with diversification. Stellar Lumens and Ripples are cryptocurrency based on the wikipedia definition: A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions, to control the creation of additional units, and to verify the transfer of assets.
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