Worries Grow That the Price of Bitcoin Is Being Propped Up

Re:Worries Grow That the Price of Bitcoin Is Being Propped Up by rst on Thursday February 01, 2018 @02:06PM (#16284734)

"Of course maybe they're not actually crooks and they do have the money."

Well then, an audit by competent third parties, inspecting where they got their funds, how much they actually have on hand, and whether it covers all potential liabilities (including calls on the supposedly dollar-backed tethers) would go a long way to clearing up the matter.

Bitfinex announced an audit with great fanfare early last year. They disclosed last weekend that their relationship with the auditor had "dissolved". Funny, that.

https://www.coindesk.com/tether-confirms-relationship-audito...

[ Parent | on HN ]

Re:Worries Grow That the Price of Bitcoin Is Being Propped Up by tim333 on Friday February 02, 2018 @03:03AM (#16289149)

Or they may be crooks and also have the money. I suspect that with people selling bitcoins for tether they didn't bother changing the bitcoins into usd but thought we can hold these things while they go up and pocket the difference. But if they've been smart with bitcoin trading they may be well ahead.

[ Parent | on HN ]

Re:Worries Grow That the Price of Bitcoin Is Being Propped Up by MarkMc on Thursday February 01, 2018 @02:14PM (#16284837)

To me this is very strong evidence that Tether is a scam. So why is anyone willing to pay $1 for a Tether?

[ Parent | on HN ]

Re:Worries Grow That the Price of Bitcoin Is Being Propped Up by qyv on Thursday February 01, 2018 @02:35PM (#16285079)

Is anyone actually paying dollars for Tether, or are they just using them to buy/sell other cryptocurrencies?

[ Parent | on HN ]