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by rglullis 1491 days ago
It's not about the "concerns" that we should be worried about. We should also be worried about not perpetuating a gigantic scam.

Honesty is not just about "I wasn't the one profiting from the bad thing". It's also "I'm willing to call evil/immoral for what it is".
1 comments
SilasX 1491 days ago
I don’t consider being slightly undercollateralized a “gigantic evil scam” and the rhetoric around Tether is still definitely overblown, and if that were your primary concern (or am I not supposed to say that anymore?), you should have led with it rather than comparing it to similar defi returns.
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rglullis 1491 days ago
No. USDT undercollaterization is not my primary concern: https://news.ycombinator.com/item?id=31451820

And I wasn't comparing in terms of returns. I just pointed out that there is no real use-case for USDT that can't be served by the other tokens, including yield-farming in liquidity pools.

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