News for hackers. Stuff that matters.

A comment on Tether Required Recapitalization in May 2022. Parent comment

Re:Tether Required Recapitalization in May 2022 by rglullis on Friday May 20, 2022 @05:00PM (#31452447)
It's not about the "concerns" that we should be worried about. We should also be worried about not perpetuating a gigantic scam.

Honesty is not just about "I wasn't the one profiting from the bad thing". It's also "I'm willing to call evil/immoral for what it is".

[ Parent | on HN ]
Re:Tether Required Recapitalization in May 2022 by SilasX on Friday May 20, 2022 @05:10PM (#31452548)
I don’t consider being slightly undercollateralized a “gigantic evil scam” and the rhetoric around Tether is still definitely overblown, and if that were your primary concern (or am I not supposed to say that anymore?), you should have led with it rather than comparing it to similar defi returns.
[ Parent | on HN ]
Re:Tether Required Recapitalization in May 2022 by rglullis on Friday May 20, 2022 @05:17PM (#31452624)
No. USDT undercollaterization is not my primary concern: https://news.ycombinator.com/item?id=31451820

And I wasn't comparing in terms of returns. I just pointed out that there is no real use-case for USDT that can't be served by the other tokens, including yield-farming in liquidity pools.

[ Parent | on HN ]