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It's Happening? The Zerpening!

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I never really understood Tether and don't care to but it has always seemed sketchy. Just never saw the point of it if I can just buy BTC with whatever currency and then trade it for whatever alt I want. I think it is a disaster waiting to happen. 

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1 minute ago, Atomic1221 said:

Tether is claiming that they didn't like the speed of the audit process: 

Below is the email referred to by Coindesk (According to CoinDesk):


Seriously, an audit takes time. It's not only a check to see if the money you say is available in the account is truly there, but to make sure the money is there by the means you say it is there by. That means they have to go back and sample transactions, etc., to ensure that the dollars in the account match up with dollars that came into the account through purchases.

I had a company I was preparing for a private placement. We were very young and had a very simple income statement and balance sheet. Yet, the audit took three weeks....they need to ensure their time frame is realistic for the money they say they are holding...

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