Author Topic: Tether deal with Bitfinex - deposits/withdrawals in fiat-based crypto!  (Read 1796 times)

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Offline bytemaster

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. 
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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

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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

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 Frodo

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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 Rune

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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 xeroc

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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?

Offline starspirit

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