Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: Tether deal with Bitfinex - deposits/withdrawals in fiat-based crypto!  (Read 401 times)

Offline starspirit

  • Hero Member
  • *****
  • Posts: 948
  • Financial markets pro over 20 years
    • View Profile
  • BTS: starspirit

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 11963
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BTS: xeroc
  • GitHub: xeroc
Re: Tether deal with Bitfinex - deposits/withdrawals in fiat-based crypto!
« Reply #1 on: January 15, 2015, 07:45:00 PM »
Quote
Each Tether is backed 1-to-1 by its corresponding currency, which can be viewed and verified in real-time via the Tether.to website and on the Blockchain

bitreserve 2.0?
It's an IOU backed by the asset with 100% .. interesting find ..
isn't bitfinex=yunbi? haven't they asked for 100% delegates recently?
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline Rune

  • Hero Member
  • *****
  • Posts: 1120
    • View Profile
Re: Tether deal with Bitfinex - deposits/withdrawals in fiat-based crypto!
« Reply #2 on: January 15, 2015, 07:48:05 PM »
Seems like it's basically colored coins. I think this is an okay sign for us, if bitcoin exchanges are willing to support this they might also be willing to support market pegged assets in time.

Offline Frodo

  • Sr. Member
  • ****
  • Posts: 329
    • View Profile
  • BTS: frodo
Re: Tether deal with Bitfinex - deposits/withdrawals in fiat-based crypto!
« Reply #3 on: January 15, 2015, 07:50:10 PM »
Quote
Each Tether is backed 1-to-1 by its corresponding currency, which can be viewed and verified in real-time via the Tether.to website and on the Blockchain

bitreserve 2.0?
It's an IOU backed by the asset with 100% .. interesting find ..
isn't bitfinex=yunbi? haven't they asked for 100% delegates recently?

Just wanted to say that :)

I hope this whole IOU stuff doesn't get too much hype. Considering how strong ripple is I fear many people don't care about decentralization that much.

Offline bytemaster

Re: Tether deal with Bitfinex - deposits/withdrawals in fiat-based crypto!
« Reply #4 on: January 15, 2015, 08:14:54 PM »
Quote
Each Tether is backed 1-to-1 by its corresponding currency, which can be viewed and verified in real-time via the Tether.to website and on the Blockchain

bitreserve 2.0?
It's an IOU backed by the asset with 100% .. interesting find ..
isn't bitfinex=yunbi? haven't they asked for 100% delegates recently?

Just wanted to say that :)

I hope this whole IOU stuff doesn't get too much hype. Considering how strong ripple is I fear many people don't care about decentralization that much.

After a few high-profile defaults / hacks they will learn.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline xiahui135

  • Sr. Member
  • ****
  • Posts: 496
    • View Profile
Re: Tether deal with Bitfinex - deposits/withdrawals in fiat-based crypto!
« Reply #5 on: January 16, 2015, 12:45:29 AM »

Quote
Each Tether is backed 1-to-1 by its corresponding currency, which can be viewed and verified in real-time via the Tether.to website and on the Blockchain

bitreserve 2.0?
It's an IOU backed by the asset with 100% .. interesting find ..
isn't bitfinex=yunbi? haven't they asked for 100% delegates recently?

Just wanted to say that :)

I hope this whole IOU stuff doesn't get too much hype. Considering how strong ripple is I fear many people don't care about decentralization that much.

After a few high-profile defaults / hacks they will learn.
But for average people, currencies like btc seem easier to be hacked, because of the btc lost news out there.

Offline bytemaster

Re: Tether deal with Bitfinex - deposits/withdrawals in fiat-based crypto!
« Reply #6 on: January 16, 2015, 02:10:59 AM »
http://bytemaster.bitshares.org/article/2015/01/15/Is-Fractional-Reserve-Banking-a-Ponzi-Scheme/

The more people that create "crypto IOUs" the easier it will be for us to create crypto gateways. 

For example, creating a NuBit gateway would be very useful for us... total time exposed to NuBit will be small enough that most people are unlikely to be caught in the eventual default.

A crypto-IOU basically makes integration with them MUCH easier. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

 

Google+