If it is raining outside and I take an umbrella with me, I can say it's a solution to the rain. That doesn't say anything about whether I bought the umbrella specifically for today and if I had it longer than today I am lying...
"Their solution: issue a cryptocurrency" implies they issued Tether to solve their wire issues. This is false. They issued it long before.
Lots of people use git as a solution to their source control problem who only started writing code after it was invented.
Do you think that bitfinex didn't know they'd potentially have wire problems before being officially cut off?
I don't think they knew 1.5 years before.
Re:Tether Critical Announcement
by trowaybloway on Tuesday November 21, 2017 @11:10AM
(#15748823)
I have no idea really but from the discussion I get the impression that one side assumes some amount of Tether could be issued at will, more or less, whereas the other seems to think to issue means to invent the ... whatever that even is.
> Bitfinex was cut off from the US financial system, which makes it impossible for them to clear USD-denominated wires...Their solution: issue a cryptocurrency which is claimed to be 100% backed by USD
Right there. patios11 claims that Bitfinex's "solution" to their wire problems was issuing Tether. That is demonstrably false, because Tether predates Bitfinex's wire issues by more than a year.