Concerns Of Cross Chain Swaps & Centralization!!! - Tether Burns 5 Billion USDT


What in the bloody hell!!! How can they mint then burn 5 billion USDT by accident!?!?

This article by Cointelegraph popped up catching my attention

https://cointelegraph.com/news/tether-mistakenly-minted-5-billion-usdt-and-immediately-burned-them

The only thing I can think is what the bloody f*, a decimal error?

Still wondering how a decimal error relates into a difference of 50 million into 5 billion when using the Omni protocol to make a transfer? Aren’t these things supposed to be automated?

So had the mistake not been recognized would that have been simply money printed out of thin air? Something crypto currency is supposed to be secure against along with centralized control, which creating and burning would require if I’m not mistaken.

I consider that proof Of centralization and evidence of why in a world of digital currency it can be so dangerous in the wrong hands!

A bloody decimal? I don’t buy it!

Let me know your thoughts in the comments below!!!


_Thats it @d00k13 OUT_

_Wallet of a Minnow, Heart of a Whale_


Posted using Partiko iOS


Comments 4


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15.07.2019 06:30
1

Dunka

Posted using Partiko iOS

15.07.2019 16:54
0

Fucking tether wants to fuck with our ecosystem or what? Wtf...

15.07.2019 16:48
2

It does seem like it don’t it!

Posted using Partiko iOS

15.07.2019 16:54
0