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by Sargos 1912 days ago
Ethereum powers 95% of the work in the cryptocurrency space. If Ethereum has a fundamental flaw then it would be quite tragic for the entire industry and might cause years of chaos and set back crypto for a generation. Thankfully Ethereum is one of the most scrutinized and well tested systems ever made so the chances of that are extremely low and there's not any reason to worry.
2 comments
anthony_barker 1912 days ago
It used to be.. Tron is almost 50% now of USDT issued.

https://wallet.tether.to/transparency

Also USDC is on several chains as well including Stellar.

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iamacyborg 1912 days ago
USDT is a fraud though, I wouldn’t believe anything associated with it.
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smoovb 1912 days ago
Tether is as legitimate as any non-US, non-regulated, company unable to do business with reputable banks or auditors could be. The NY AG case went a good way to legitimize them.
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iamacyborg 1912 days ago
Errr, what. Here's a quote from the NY AG, I'm not sure how this translates into your interpretation of the case.

https://ag.ny.gov/press-release/2021/attorney-general-james-...

> “Bitfinex and Tether recklessly and unlawfully covered-up massive financial losses to keep their scheme going and protect their bottom lines,” said Attorney General James. “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie. These companies obscured the true risk investors faced and were operated by unlicensed and unregulated individuals and entities dealing in the darkest corners of the financial system.

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wtvanhest 1912 days ago
I started learning how to program some solidarity for fun and just to understand the whole concept better. While I agree that in the short-run 1-5 years, it’s extremely unlikely that something wins agains ETH, but... in the long run, 10-20 years, it’s a lot harder to know.

Not sure what that means for anything, but it’s important to remember that what we consider the gold standard today, BTC, ETH, they may be tomorrow’s tin.

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herbst 1912 days ago
This has happened before. A few years ago many did not understand the concept of smart chains and rather invested into new litecoin clones, all of which are replaced in popularity by smart chain tokens only a few years later. I agree but i think 5 years is enough to disrupt everything.
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