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r/CryptoCurrencySee Post

How TF is TETHER still alive !

r/CryptoCurrencySee Post

reNFT - Lending & Renting NFTs: Introduction

r/CryptoCurrencySee Post

Kevin Smith to Release New Horror Film via Secret Network NFTs, Collaborate With Holders

r/CryptoCurrencySee Post

Super Bowl ads boosted crypto app downloads by 279%

r/CryptoCurrencySee Post

The Cryptobowl, OK. I preferred the actual game, Inglewood represent! Rams all the way. But this is pretty cool for Crypto adoption.

r/CryptoCurrencySee Post

Crypto Adverts during the Super Bowl, which one do you choose?

r/CryptoCurrencySee Post

Out of the 3 crypto Ads during the superbowl, which do you think was the best?

r/CryptoCurrencySee Post

“Benefits of “Locking Liquidity”.

r/CryptoCurrencySee Post

Bitcoin Or Stupid Shit?

r/BitcoinSee Post

Visa processed 37 billion transactions in FY2008, or an average of 100 million transactions per day. That many transactions would take 100GB of bandwidth, or the size of 12 DVD or 2 HD quality movies, or about $18 worth of bandwidth at current prices. Satoshi Nakamoto

r/CryptoCurrencySee Post

I was disappointed to see how misinformed this sub is about NFTs. Here's some basic info. Get informed before you bash something.

r/CryptoMoonShotsSee Post

🎞 Token Netflix Launch today - 16:30 UTC 12 November 🎞 NetflixToken 🌕Total Supply: 100,000,000 🎥 Initial Market Cap: 20 BNB

r/CryptoCurrencySee Post

Who Really Controls Tether? Here's A Deep Dive Into the Shady History of its Founders.

r/CryptoCurrencySee Post

Indie Film NFT Discussion

r/CryptoCurrencySee Post

Question: Using Blockchain/NFT for TV shows.

r/CryptoCurrencySee Post

AlphaBit invests into adult crypto industry, and so should you.

r/CryptoCurrencySee Post

Betamax was superior and supposed to be king but than the DVD came and ruled for decades, could something like this happen for crypto too?

r/CryptoCurrencySee Post

Does anyone else experience instant regret when they see something they did in 2010, and wonder if only....

r/CryptoCurrencySee Post

Bitcoin or Stupid Shit?

r/CryptoCurrencySee Post

Will We See A Split In How The Market Moves?

r/CryptoCurrencySee Post

Guide: Paranoid fireproof redundant encrypted crypto backup created on an air-gapped computer

r/CryptoCurrencySee Post

Guide: Paranoid fireproof redundant encrypted crypto backup created on an air-gapped device

r/CryptoCurrencySee Post

WalMart discount crypto bin

r/CryptoCurrencySee Post

The Who/What/When/Why/How of TAILS, why all crypto users should familiarize themselves with the ultimate form of crypto safety/privacy.

r/CryptoCurrencySee Post

Who Controls Tether? Here's A Deep Dive Into the Shady History of its Founders.

r/CryptoCurrencySee Post

When porn drives innovation, what crypto will win?

r/CryptoCurrencySee Post

A Cryptocurrency backed by a Dividend's portfolio... Dividend Token (DVD)

r/CryptoCurrencySee Post

Doom Break - Relax - Brenna Sparks Article

r/CryptoCurrencySee Post

"Adult" activity on a blockchain as indicator of it "winning"

r/CryptoMoonShotsSee Post

17 Reasons Why You Should Buy Meme Cryptocurrency Dogecoin

r/CryptoCurrencySee Post

Story About how Bitcoin mining was advertised to me 10 years ago and Why I lost those bitcoins.

r/CryptoCurrencySee Post

A Story about How Bitcoin mining was advertised to me 10 years ago, and why I lost those Bitcoins.

r/CryptoCurrencySee Post

How many times can one person possibly miss out on potentially life changing, amazing opportunities?

r/CryptoCurrencySee Post

DOGE is not an 'investment'. Be careful.

r/CryptoCurrencySee Post

NFTs: Google Glass or the DVD?

r/CryptoCurrencySee Post

Are you writing off Cumrocket as a shitcoin?

r/CryptoCurrencySee Post

Is Ethereum (ETH) going to blow up?

r/CryptoCurrencySee Post

Timothy Sykes - Best of Livestock

r/BitcoinSee Post

If Bitcoin is the Internet, which year are we in?

r/CryptoCurrencySee Post

The thing about Bitcoin Cash

Mentions

r/CryptoCurrencySee Comment

Infringing DVD patents is the lowest of the low. Forget child exploitation material.

Mentions:#DVD
r/CryptoCurrencySee Comment

>Giancarlo Devasini , their CFO, is a former plastic surgeon (for about a week) who had to pay a $65,000 fine for pirating Microsoft software in 1996 and was then sued by Toshiba for infringing some of their DVD patents. oh no the horrors, this one just made me burst out laughing

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10s57jv/daily_general_discussion_february_3_2023_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10ralbq/daily_general_discussion_february_2_2023_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10ralbq/daily_general_discussion_february_2_2023_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

Oh the one that looks like a library DVD case. Yea, I kinda like that aesthetic. Wowww it's $290. And hmm the keystone is only $120-170.

Mentions:#DVD
r/BitcoinSee Comment

I bought 100 Bitcoin at sub 50 cents back in 2011. Bought LSD and a Faces of Death DVD with it on Silk Road. I'll ask that people respect my privacy at a time like this.

Mentions:#DVD
r/CryptoCurrencySee Comment

I was going to say the exact same thing about blockbuster/netflix! Except my line of thinking was: Litecoin implemented their MWEB privacy feature which is analogous to Netflix when they started out with DVD rentals to your house. No one knew what you were renting, and it was much easier than trips to blockbuster and the late fees and such. ​ We all know how it went with Netflix....

Mentions:#DVD
r/CryptoCurrencySee Comment

Some of the newer computers don't have a DVD player. The coins and bills go in through the DVD player slot. If you want to buy Bitcoin and you don't have a DVD player in your computer, there are other options. No good ones, of course. /s

Mentions:#DVD
r/CryptoCurrencySee Comment

And along with that, I'm pretty sure blu-ray never even surpassed DVD sales

Mentions:#DVD
r/CryptoCurrencySee Comment

It takes little effort to move between changes. Blu-ray/HD-DVD you had to replace your disc player, replace your discs as they came out. Hundreds of dollars just to swap out the hardware along with at the time. The content discs themselves were premium $20-$40 new. Netflix came out and dominated for a good ten years and now there's like a dozen streaming services

Mentions:#DVD
r/CryptoCurrencySee Comment

Could only sell my DVD-Set of all Seasons Golden Girls. Any offers?

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10hdaqg/daily_general_discussion_january_21_2023_gmt0/).

Mentions:#USDT#DVD
r/BitcoinSee Comment

Some place creative. Some place mundane and innocent looking. Places for a safe are usually like, behind paintings and under fake floorboards. Your average home invasion/robbery lasts about 3 minutes. If you stuff your key somewhere that's the least likely to be seen. Robbers will prioritize high value items like game consoles and games, TV's, DVD's. High end collectibles etc. You need to stash your seed phrase somewhere nobody will suspect, like the inside of a toybox, or your laundry hamper. Something a home invader would IGNORE unless you have a loud mouth.

Mentions:#DVD
r/CryptoCurrencySee Comment

Trust me bro? If you had said HD DVD I would have known you were certain l, but grandma buying a Betamax? Come on...

Mentions:#DVD
r/CryptoCurrencySee Comment

I'll say this, my first real GF in highschool at the time bought me the DVD when it came out. hahaha

Mentions:#GF#DVD
r/BitcoinSee Comment

This \^ >Whether money streaming becomes a real thing or not, It's been happening. We used to buy music, now we stream. We used to buy DVD's, now we stream. We used to buy cars, now we lease. We used to buy phones, now we can upgrade every year as part of a 'service' plan. Seems like the trend is heading away from direct ownership and moving towards SAAP (service as a product). What was an annual fee is becoming a quarterly fee, what was quarterly is becoming monthly. etc. Keep pushing this and eventually you get to that instantaneous live stream money in & money out scenario, which I think is just about inevitable. Now lets add IoT (internet of things) with wearable technologies using built in RFID etc, and we are in for some interesting times ahead. IMO, one of the biggest issues with bitcoin right now is the sovereign scratching their heads on how the hell to collect tax without tax evasion by the masses. I think it might end up something like a toll road, you are taxed for what you use. Those micropayments go directly to the public service being used. Ideally they would go directly ***and only to*** that particular toll road. When you visit your local library, your micropayment goes directly to ***that*** library and not some library in another neighborhood. After a while, these public services find their buoyancy point with the people using them. This scenario could render a massive chunk of our bureaucratic bullshit politicians as unnecessary. Instead of politicians lobbying for what to spend our tax money on, having a direct tax-to-public-service-plan trims quite a bit of fat from the lobbyist. Food for thought anyway. Tick tock, next block.

Mentions:#DVD#IMO
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10dwvz3/daily_general_discussion_january_17_2023_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/10dwvz3/daily_general_discussion_january_17_2023_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/109k9wk/daily_general_discussion_january_12_2023_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

I never connect TVs or DVD players to the internet. What's the point? Get a Roku/Firestick (without the mic) and the UI is exponentially better.

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/107ukqv/daily_general_discussion_january_10_2023_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/107ukqv/daily_general_discussion_january_10_2023_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

DVD? You mean VHS

Mentions:#DVD
r/CryptoCurrencySee Comment

I feel you. I'm from DVD days

Mentions:#DVD
r/CryptoCurrencySee Comment

Yea most are pointers because of damn jpeg frenzy. Scammers. If I buy a physical game I OWN it. I don't own the IP itself, I own the right to use it. If I buy a DVD it doesn't only work on a single DVD player. But if I buy on Google Play, I have to buy it on every damn platform. I bought digital Risk: Factions on Xbox live a LONG time ago. EA lost the rights to Ubisoft and now I don't get to play the game I bought. That shouldn't be allowed and I'd hope you'd at least agree to that. What about NFTs like the King's of Leon album? "Cash" in the nft for the vinyl? Or Tom macdonald releasing a song called Dear Slim off the Eminem produced beat that came with the NFT he purchased for $100k? You can find flaws in anything but there are use cases for them.

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/100xkac/daily_general_discussion_january_2_2023_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

Reminds me of the Twilight drinking game that was going around a while ago. Step 1: Insert Twilight DVD. Step 2: Press play. Step 3: Drink 40 shots so that you can die before the movie starts.

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zxpgqq/daily_general_discussion_december_29_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zw0x98/daily_general_discussion_december_27_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zt13k8/daily_general_discussion_december_23_2022_gmt0/).

Mentions:#USDT#DVD
r/BitcoinSee Comment

The funny thing is when I was dropped out of college I worked for blockbuster in the warehouse for their mail order DVD service lol. And traditional banking may eventually go the way of the dinosaur, but that's a long ways off. Old people have the most money and they want to go Karen at someone in person and until they all die that won't change.

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/znheqe/why_you_should_talk_about_crypto_but_responsibly/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

I have 6 Ledger Nano Ss and a Ledger Blue. So, obviously I'm very happy with Ledger, though to be fair I've never tried Trezor. Don't worry about not being techy, they were a little wonky in the early days, but since Ledger Live the initial setup is super easy! I talked my 73-year old mother through both the initial setup and moving her assets from a CEX into her new wallet over the phone (we live on opposite sides of the US), and she's the kind of person that would call Geek Squad to come out and hook up her DVD player!

Mentions:#CEX#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zm6fit/daily_general_discussion_december_15_2022_gmt0/).

Mentions:#USDT#DVD
r/BitcoinSee Comment

For maximum safety, you can create a paper wallet. Boot up a computer off of a linux boot DVD with no ethernet card, no wifi & no hard drive. The Boot disc (last time I did this was over a decade ago, so I don't have a link to a DVD image. Can google it) should have an app to create a wallet. Do that and write down the seed phrase & public address (check & double check you wrote them down correctly) on paper & reboot the computer normally. Test send a small amount to the new wallet address and check on a blockchain explorer to verify. IMHO, this is safer than a software or hardware wallet.

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zlbetm/daily_general_discussion_december_14_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zlbetm/daily_general_discussion_december_14_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

The ledger stax design reminds me of DVD cases from blockbuster or something.

Mentions:#DVD
r/BitcoinSee Comment

> I have a concern what if the hardware wallet company precoded their wallet in someway to steal all my keys? That's a valid concern. Other, 3rd party, supply chain attacks are a risk too. For example a bad actor going right the source of the chip and manipulating it. For that and other reasons, many think that hardware wallets are actually not the best solution for cold storage of bitcoin private keys (cold storage means, that the key material never touches a computer with internet access). I for one recommend to DIY your cold storage using Electrum on Tails: You can either buy an off-the-shelf, cheap laptop or use your existing hardware to achieve cold storage. For example: Download Tails (https://tails.boum.org/) and run it from a DVD or USB-drive. Refrain from connecting to any network. Create an Electrum wallet. Make two seed backups (paper, metal, brain,...), because Tails is an amnesiac system, meaning it will forget all settings, including your seed, upon reboot. Here are old but very explanatory videos of how cold storage with Electrum works: * Part 1: https://www.youtube.com/watch?v=z9K3CozQpzM * Part 2: https://www.youtube.com/watch?v=WK4JmfMCDBg (you don't have to install Electrum, because Tails has it preinstalled) * Part 3: https://www.youtube.com/watch?v=SBVyFRb6ZZc Tip: If you're using an Android device as your online-connected watch-only device, you can very handily transport unsigned and signed transactions between the laptop and the Android device using QR-codes. **ATTENTION:** The only legitimate source from which Electrum can be obtained is https://electrum.org. By using the Electrum installation that comes with Tails (https://tails.boum.org is the only legitimate place to obtain Tails from), you're introducing one possibly weak link into your setup. Same goes for downloading the Electrum app on Android. While the Google Play Store might be relatively secure, as is Tails, relatively secure, you do introduce another point of failure and trust. Learn how to download, verify and use the official Electrum releases from https://electrum.org. You can see Thomas Voegtlin's (the lead developer of Electrum) GPG-fingerprint in this video, where he is giving a lecture: https://www.youtube.com/watch?v=hjYCXOyDy7Y. Here is a reproduction of that fingerprint: `6694 D8DE 7BE8 EE56 31BE D950 2BD5 824B 7F94 70E6`

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zggkk0/daily_general_discussion_december_9_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zggkk0/daily_general_discussion_december_9_2022_gmt0/).

Mentions:#USDT#DVD
r/BitcoinSee Comment

You can either buy an off-the-shelf, cheap laptop or use your existing hardware to achieve cold storage. For example: Download Tails (https://tails.boum.org/) and run it from a DVD or USB-drive. Refrain from connecting to any network. Create an Electrum wallet. Make two seed backups (paper, metal, brain,...), because Tails is an amnesiac system, meaning it will forget all settings, including your seed, upon reboot. Here are old but very explanatory videos of how cold storage with Electrum works: * Part 1: https://www.youtube.com/watch?v=z9K3CozQpzM * Part 2: https://www.youtube.com/watch?v=WK4JmfMCDBg (you don't have to install Electrum, because Tails has it preinstalled) * Part 3: https://www.youtube.com/watch?v=SBVyFRb6ZZc Tip: If you're using an Android device as your online-connected watch-only device, you can very handily transport unsigned and signed transactions between the laptop and the Android device using QR-codes. **ATTENTION:** The only legitimate source from which Electrum can be obtained is https://electrum.org. By using the Electrum installation that comes with Tails (https://tails.boum.org is the only legitimate place to obtain Tails from), you're introducing one possibly weak link into your setup. Same goes for downloading the Electrum app on Android. While the Google Play Store might be relatively secure, as is Tails, relatively secure, you do introduce another point of failure and trust. Learn how to download, verify and use the official Electrum releases from https://electrum.org. You can see Thomas Voegtlin's (the lead developer of Electrum) GPG-fingerprint in this video, where he is giving a lecture: https://www.youtube.com/watch?v=hjYCXOyDy7Y. Here is a reproduction of that fingerprint: `6694 D8DE 7BE8 EE56 31BE D950 2BD5 824B 7F94 70E6` Another option is to use an old Android phone or tablet and install Electrum on it. Then never connect to the internet again, i.e. stay in airplane mode forever. That's now your "hardware wallet". Or if you have an old iPhone or iPad, same idea but with BlueWallet, as Electrum isn't available for iOS. As the web-facing front-end you can use Sparrow Wallet.

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zggkk0/daily_general_discussion_december_9_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zggkk0/daily_general_discussion_december_9_2022_gmt0/).

Mentions:#USDT#DVD
r/BitcoinSee Comment

> Level 4: SeedSigner (hardware): This is the best option in my opinion. It is completely air-gapped and uses generic hardware which drastically reduces the probability of a backdoor. While it is technically "air-gapped" you normally keep your cold storage wallet physically separated from your hot machines, definitely not in the same room, and you do some sort of sneaker net between them. It seems like seedsigner is camera-only, meaning it has to be real close to your normal computer, and that technically makes it not meet a traditional definition of "air gapped" because optical networking is still networking. Directly communicating over a camera makes it networked and not airgapped. Its not just the lack of an electrical connection which makes a proper air-gap, its a physical space which helps dampen sound, power, EMF, magnetic induction, and all other types of side channels - including visual. The bare minimum is to keep the air-gapped machine in a separate room, and the only thing that should move from the hot room to the cold room is storage media, such as a DVD, printout, or SD card.

Mentions:#DVD#SD
r/BitcoinSee Comment

You can either buy an off-the-shelf, cheap laptop or use your existing hardware to achieve cold storage. For example: Download Tails (https://tails.boum.org/) and run it from a DVD or USB-drive. Refrain from connecting to any network. Create an Electrum wallet. Make two seed backups (paper, metal, brain,...), because Tails is an amnesiac system, meaning it will forget all settings, including your seed, upon reboot. Here are old but very explanatory videos of how cold storage with Electrum works: * Part 1: https://www.youtube.com/watch?v=z9K3CozQpzM * Part 2: https://www.youtube.com/watch?v=WK4JmfMCDBg (you don't have to install Electrum, because Tails has it preinstalled) * Part 3: https://www.youtube.com/watch?v=SBVyFRb6ZZc Tip: If you're using an Android device as your online-connected watch-only device, you can very handily transport unsigned and signed transactions between the laptop and the Android device using QR-codes. **ATTENTION:** The only legitimate source from which Electrum can be obtained is https://electrum.org. By using the Electrum installation that comes with Tails (https://tails.boum.org is the only legitimate place to obtain Tails from), you're introducing one possibly weak link into your setup. Same goes for downloading the Electrum app on Android. While the Google Play Store might be relatively secure, as is Tails, relatively secure, you do introduce another point of failure and trust. Learn how to download, verify and use the official Electrum releases from https://electrum.org. You can see Thomas Voegtlin's (the lead developer of Electrum) GPG-fingerprint in this video, where he is giving a lecture: https://www.youtube.com/watch?v=hjYCXOyDy7Y. Here is a reproduction of that fingerprint: `6694 D8DE 7BE8 EE56 31BE D950 2BD5 824B 7F94 70E6`

Mentions:#DVD
r/CryptoCurrencySee Comment

Ah, that's a tough decision. Sorry your post was deleted. You can create a software wallet if you are careful enough and you don't want to trade with it, but it's not easy if you want to be maximum paranoid. 1. Reinstall the operating system on your computer and/or burn an offline USB/DVD image. Reboot to this. This step hopefully helps prevent keyboard loggers and other malware from seeing the seed phrase you'll generate. Preferably, use Linux. 2. Download the software needed to create a new wallet offline, this will depend on the blockchain you're withdrawing. Vet this software carefully with the Reddit sub and other community resources to make sure it's legit. 3. Disconnect from the internet entirely and generate a new seed phrase. Write this down. 4. Reinstall your OS again or reboot out of the liveCD/USB. 5. Withdraw your crypto to the address you just generated (double-check every character of the address when you withdraw), and guard your seed phrase with your life. Store it somewhere flood and fireproof and locked. 3. Disconnect from the internet

Mentions:#DVD#OS
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/zb26w4/daily_general_discussion_december_3_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

Crypto is just software. Software is math. How do you regulate math? The government tried with the whole DVD encryption nonsense, yet DeCSS got made anyway. CEX's need to hold customer funds in trust. They are not banks, with fractional reserve policies enforced by the Government. They need to hold customer funds 1:1. If they can't be trusted to do that themselves, governments need to step in to regulate it. This adds friction to transactions, because regulations cost money to implement. CEXs need to absorb that cost as part of their business. This means trading fees will go up. I don't mind as long as CEX's don't screw their customers anymore.

Mentions:#DVD#CEX
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

Mentions:#USDT#DVD
r/BitcoinSee Comment

You're right. That's too hard. Better keep using backdoored paper wallets. Or... Maybe you should research it more before shitting on it. Tails comes preinstalled with Electrum. Downloading and copying it to a USB thumb drive or DVD takes only a few minutes (depending on your internet connection). And you need an offline system anyway to create your backdoored paper wallets.

Mentions:#DVD
r/CryptoMarketsSee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/z97v8h/daily_general_discussion_december_1_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/z8aq27/daily_general_discussion_november_30_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoMarketsSee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/z8aq27/daily_general_discussion_november_30_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

Arguably in the dark ages of the far past... passing bad checks or forging IOUs was a thing people did. I knew a dude who made fake credit cards in high school (got gang tackled buying a DVD player is how I found out). So, this isn't a new thing.

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **The company lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuif9/top_coins_tether_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/z5lyme/daily_general_discussion_november_27_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

***DVD joins the chat***

Mentions:#DVD
r/CryptoCurrencySee Comment

Certainly a controversial topic. There are camps on both sides but I think many assume blockchains improve like VCRs -> DVD-> blu-ray -> online streaming services did.

Mentions:#DVD
r/CryptoCurrencySee Comment

Waiting for? These these ancient ghouls aren’t waiting to pounce, they’re totally oblivious. They can’t work a DVD player. This situation just massively raised the likelihood of aggressive regulation all on it’s own.

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/yzpxap/daily_general_discussion_november_20_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/yyygsf/daily_general_discussion_november_19_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/yy5ofm/daily_general_discussion_november_18_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

On the flip side, we are still fairky early and crypto is like the playstation 2 now, well known and near the best at what it does but with computers still having an edge overall. But when it gets to be a PS3 and everyone wants one for more than just gaming since now it's their first blu-ray and DVD player and they don't keep up with modern PCs or gaming, the actual adoption happens. And when that's well established and more than half of banks have it incorporated, the value can still grow tenfold but will still be spread out over few dozen projects with btc being interesting less centralized and "used".

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/yxakfo/daily_general_discussion_november_17_2022_gmt0/).

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#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ywdu9s/daily_general_discussion_november_16_2022_gmt0/).

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A DVD is metal on the inside

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#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ytmecs/daily_general_discussion_november_13_2022_gmt0/).

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#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/yrvt2z/daily_general_discussion_november_11_2022_gmt0/).

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#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/yqzprc/daily_general_discussion_november_10_2022_gmt0/).

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#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/yqzprc/daily_general_discussion_november_10_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/yqzprc/daily_general_discussion_november_10_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/yq2tow/daily_general_discussion_november_9_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/yo70l5/daily_general_discussion_november_7_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoMarketsSee Comment

You can buy lord of the rings nft. It's effectively just a 4k DVD of the first movie. With some bonus features. It's about the same price and easier to sell when you're done with it, to make up for the slightly higher price tag. You can buy the movie on another platform with no option to sell to anybody else to get money back. you never truly own it, they can lose the rights to stream that movie on their platform, then you lose the rights to watch something you paid for, with the impression that you owned it forever. I would say that a nft can have practical uses. In the case of a movie nft. You own it forever if you want. Can sell it, unlike other digital movies you can "buy". Can possibly be a good investment, if the supply of a particular movies is too small for the demand of a movie nft that was released and the price goes up after purchase.

Mentions:#DVD
r/CryptoCurrencySee Comment

IMO this is an obvious cash grab. Warner Bros outsourced this to a 3rd party company who run their own blockchain, where these NFTs live. That's not decentralisation, that's exactly the same as just buying DVD extras that live on a centralised database. At least if Warner managed it themselves there would be a good chance that the NFT and content wouldn't just disappear, but this is a company no one has ever heard of and probably won't survive for long.

Mentions:#IMO#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ylbjmy/serious_bitcoin_is_holding_up_amazing_since_june/).

Mentions:#USDT#DVD
r/BitcoinSee Comment

You can buy a USB Floppy drive or USB external DVD drive on amazon for under $20. I have a floppy drive that's USB and works just fine on a modern computer. Might have to get some USB-C (....or D or E or whatever were at) adapters in the future, But that's it. Absolute worst case you'd buy an older computer to recover your coins.

Mentions:#DVD
r/BitcoinSee Comment

What if there are no USB ports anymore...floppy and DVD drives are gone, who knew....

Mentions:#DVD
r/CryptoCurrencySee Comment

Back in the early 00s there were production companies that made really shitty straight-to-DVD copies of blockbusters. So for every blockbuster like The Mummy, you'd see a low-budget 1.5-star-rated title like Curse of the Mummy on the shelf below it. Craig Wright seems like the human version of that.

Mentions:#DVD
r/CryptoCurrencySee Comment

Ya you can buy the DVD set on eBay for <$100 shipped or stream the non 4k version from Amazon or Apple for a few bucks. The “NFT web3 experience” in this context is a bunch of words that don’t mean anything in terms of real value imo.

Mentions:#DVD
r/BitcoinSee Comment

The idiot with 7500 BTC in a software wallet on a HDD in a landfill facility should have made a backup of his wallet file, where "backup" does not mean copying it to another HDD. It was worth less than $1 million in 2013, when he lazily abandoned it - no great loss A hardware wallet wouldn't have saved him. They can only work by using a recovery mnemonic. Recovery mnemonic systems were developed to save people who were too lazy to make backups, and then hardware wallets piggy-backed off this convenience People used to back up to writable optical media (DVD-R). Then the iPhone started secretly copying all its data to the iCloud and used brain radiation to make people forget how to make DVD-R backups But you can't trust a cloud to store a Bitcoin wallet. Instead of re-teaching people to make simple backups, recovery mnemonics and hardware wallets were invented

Mentions:#BTC#DVD
r/BitcoinSee Comment

I'll get a copy soon. I like to collect one new "holiday" DVD each year. Somehow, I've never collected that one - yet.

Mentions:#DVD
r/CryptoCurrencySee Comment

**Right not it feels like we are in the VHS vs Betamax phase or HD DVD vs Blue Ray**. Once there is a clear winner to these different infrastructure theses like multi-chain, app chain, zero-knowledge proofs, optimistic rollups, etc, then I think we're going to see an explosion in the market. The winner or winners are going to see scaling, and low costs while maintaining security. We build it and they will come. Then we'll have the infrastructure to support the killer apps and gaming. Potential next big things: * NFT and **semi**-fungible tokens (like the paid Reddit Collections that are identical but have limited mints) * NFT Music will see big movement in semi-fungible tokens as a way to support new or existing artists (hint - you don't need to build in utility or royalties). This will be a path for early releases before a song hits Spotify. * NFT videos or shorts. This is being talked about even less than Music NFTs which makes me bullish * DEFI **under**collateralized lending and better **fixed** rate lending * Better On-Ramping and Off-Ramping - This is key and a good example for on-ramping is Reddit NFTs. You pay with a Visa and the NFT is minted on-chain for "free" to your address. We aren't going to get the next billion users into Web 3.0 by using exchanges and non-custodial wallets. This will be built into the back end and users won't know they're interacting with it.

Mentions:#DVD#DEFI
r/CryptoCurrencySee Comment

Life's unfair, i should have bought a DVD at least

Mentions:#DVD
r/CryptoCurrencySee Comment

If you had bought Bitcoin instead of Toy Story 3 on DVD when it was released, you would now have $4,364,129

Mentions:#DVD
r/CryptoCurrencySee Comment

I just wanna buy the avatar DVD with my moons

Mentions:#DVD
r/CryptoCurrencySee Comment

Millennials only care about their MySpace gifs, Limp Bizkit MP3s and Back to the Future DVD Box Sets with Director's Commentary and Behind the Scenes Featurettes, and quite honestly it's frightening.

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/xpwwdf/daily_general_discussion_september_28_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoMarketsSee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/xo380x/daily_general_discussion_september_26_2022_gmt0/).

Mentions:#USDT#DVD
r/BitcoinSee Comment

I agree . Tis has been always true since VHS, DVD's, and carburetors.

Mentions:#DVD
r/CryptoCurrencySee Comment

#Tether Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Tether Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > *First published on:* [*30.09.2021*](https://np.reddit.com/r/CryptoCurrency/comments/og1sms/rcryptocurrency_cointest_top_10_category_tether/hewuzi9/) > > *Last edited on: no edits* > > # Intro > > Tether (USDT) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDT is currently the most popular stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Tether is centralized. Tether Limited (controlled by the owners of Bitfinex) is responsible for issuing USDT \[1\]. Tether Limited is free to issue and freeze all USDT. When PolyNetwork was famously hacked in August 2021, all of the USDT that hacker stole was frozen and then returned to the victim. There were other such examples in the past (e.g. when KuCoin was hacked in 2020). > > As much as the above examples are positive, nothing stops Tether from being less ethical in the future. Especially taken into consideration their shady history. Not to mention that centralization is against one of the core principles of cryptocurrencies. > > **It lied on several occasions** > > Tether always claimed that they and Bitfinex are two completely separate entities and denied all the speculations that they are the same. In November 2017, “The Paradise Papers” revealed Bitfinex and Tether are indeed run by the same people. \[4\] > > Until February 2019, Tether claimed to be backed by the US dollar on a one-to-one basis: “Every tether is always backed 1-to-1, by traditional currency held in our reserves.” – read their website. The text was then changed to: “Every tether is always 100% backed by our reserves (…) and, from time to time, may include other assets (…). > > However, in April 2019, Tether’s general counsel admitted that the stablecoin can back only around 74% of its supply in circulation \[5\]. It was also reported by the New York Attorney General that at some point in time Tether didn’t even have access to banking services. Therefore, Tether lied about its backing. \[6\] > > Tether promised to share reports from independent auditors on their reserves. They haven’t done so until **forced** by a court order in 2021. And even then they couldn’t stop themselves from misleading the public. In a tweet from Paolo Ardoino, Tether’s CTO, he stated that they share the report because “community asked for it." \[7\] > > **There are some shady people behind it…** > > The most important people at Tether are surrounded by many controversies: > > Jan Ludovicus (or Jean Louis) **van der Velde**, Tether’s CEO, is a ghost. There’s barely any information about him \[4\]. This is rather concerning when you take into consideration he’s a CEO of a multi-billion company. > > **Giancarlo Devasini**, Tether’s CFO, boasts he built companies that generated 100 million euro in revenue but documents show it was almost 10 times less. He was sued by Microsoft for pirating their software and by Toshiba for infringing its DVD-related patents. And these are just a few examples of Devasini’s questionable doings and statements. \[6\] > > **Phil Potter**, CEO of Bitfinex (Bitfinex is the only partner of Tether. And it’s a company that actually controls Tether. So the only partner of Tether is a company that… controls it), was fired from Morgan Stanley in the 90’s after he bragged about his lavish lifestyle in an interview for The New York Times. \[8\] > > Letitia James, the New York attorney-general, called those people “unlicensed and unregulated individuals (…) dealing in the darkest corners of the financial system." \[6\] > > **…against whom criminal charges might be filed** > > US Justice Department that is investigating Tether and in July 2021 it reported that it is now considering whether it should file criminal charges against Tether executives. The charges might be based on the assumption that Tether lied about its business when it was opening bank accounts all over the world. \[9\] ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2m4t/top_10_tether_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/xb3w34/daily_general_discussion_september_11_2022_gmt0/).

Mentions:#USDT#DVD
r/CryptoCurrencySee Comment

I had over 10,000 BTC in 2011 and used them to buy a Faces of Death DVD and a gram of weed from Silk Road.

Mentions:#BTC#DVD
r/CryptoCurrencySee Comment

>A reformed criminal and an enterprising young woman are forced back into the underground when a hard drive containing $600,000 in Bitcoin goes missing and its value begins to skyrocket. Bitcon stars Jeremy Davies (Twister, TV’s Lost), Tom Cavanagh (TV’s The Flash”), Noah Anderson (Realm of Shadows), and Frank Whaley (Pulp Fiction), and is directed by Matt Osterman (400 Days, Hover). Mill Creek/Allied Entertainment’s Bitcon arrives on Digital and DVD on October 18, 2022. This movie looks so bad. lol.

Mentions:#DVD
r/CryptoCurrencySee Comment

They're why Blu-Ray beat HD-DVD

Mentions:#DVD
r/CryptoCurrencySee Comment

I used to do this. There were websites you could go to that would email you a best buy gift card code if you sent them Bitcoin. So, Bitcoin faucet ➡️ best buy gift cards over and over. I bought so many fancy collectors edition DVD sets with my free Internet money. 10-ish years later and I don't even own a working DVD player. The bitcoins would have been worth 10s of millions.

Mentions:#DVD
r/CryptoCurrencySee Comment

Nobody’s telling you to buy. You’re making it seem like it’s a dead project and predicting it’s future price like you’re clairvoyant. In a sea of altcoins Cardanos ecosystem has a lot of potential and a very active dev community. Your media format analogy also doesn’t make sense, laserdisc was supported from 1981 until 2009. It catered to the enthusiast market. Minidisc released in 1992 and was discontinued in 2013. They were the alternative to VHS and cds and had relatively long lifespans, they weren’t killed off by their competitors like you make it seem. Adopters have different options based on their needs and budget. What actually killed these formats was the introduction of next gen technology. Which is why developer activity and updates is crucial to a project’s success. Both ETH and ADA have major updates coming up. HD-DVD is the only one that died off quickly. It fundamentally did the same thing as Blu-ray but had less storage. Not to mention they were also both introduced at a time where consumers started to adopt digital media over physical.

Mentions:#ETH#ADA#DVD
r/CryptoCurrencySee Comment

Thats BS. It cannot coexist to a competitior thats miles ahead. You remember laserdisc? Minidisc? HD DVD?

Mentions:#DVD