[ceejayoz]

In a previous thread (https://news.ycombinator.com/item?id=17304571) it became apparent you've fallen for Tether's misinformation to the point where you believed they'd passed an audit. Again, they have completed zero of the "frequent" audits they claim on their website.

Is it possible you see objections to Tether as "so crazy" because of this sort of fraud on Tether's part?

[craigc]

Just because I was wrong about that one thing doesn’t make what I just said any less true. You have yet to provide any evidence that they are not backed by USD. Just because they haven’t had an audit doesn’t prove any of your allegations.

Why do you have it in for Tether so much in the first place?

[ceejayoz]

> Just because I was wrong about that one thing doesn’t make what I just said any less true.

It's evidence of credulity where Tether is concerned.

> You have yet to provide any evidence that they are not backed by USD.

The onus is on Tether.

"We have taken in two billion dollars, but can't find an auditor to say so, so here's a non-audit while we keep the 'frequent professional audits' statement up on our site" is outright fraud.

Your threshold for claims made by proven fraudsters is remarkably low.

> Why do you have it in for Tether so much in the first place?

I don't like being lied to, especially when billions of dollars are at stake.

[craigc]

> I don't like being lied to, especially when billions of dollars are at stake.

That’s totally understandable and fair. I also agree it is partially on them to prove that they can be trusted and I think this report today is a step in the right direction.

That said, there is still no hard proof that they have been lying and I like to believe they are innocent until proven guilty.

Also Tether can’t fully explain the run up in prices last year since Tether only accounts for some of the crypto trading volume, and many people still paid USD to buy Bitcoin and other cryptos last year.

[ceejayoz]

> That said, there is still no hard proof that they have been lying and I like to believe they are innocent until proven guilty.

There is. Their website claims "frequent professional audits". Zero audits since the founding of Tether Holdings Limited in 2014 is neither frequent, professional, nor an audit.

[craigc]

I should have clarified. I meant no proof that they have been lying about the 1:1 dollar backing.

I agree with you the fact that they claim they are audited and never are is a sleazy business tactic.

[ceejayoz]

Proof they're lying about audits should be strong evidence the 1:1 dollar backing is an unreliable claim at best.

Unreliable claims to $2B in assets should be treated as extremely suspect until a reputable audit is provided. "I've got a Canadian girlfriend you've never met" doesn't fly in middle school; it shouldn't fly in a financial system.