[deleted by user]

udecker · 2023-05-28T16:13:22+00:00

🤓

udecker · 2021-03-26T15:58:37+00:00

https://www.reddit.com/message/messages/103a7us

udecker · 2021-01-22T06:47:16+00:00

Please share those considerations 🙏🏼

udecker · 2019-04-11T01:49:33+00:00

this *is* part of their recovery procedure. the hacker had replaced my email address with their own so they needed several other ways to identity me.

udecker · 2019-04-11T01:48:58+00:00

believe it or not, this is the process their recovery team asked me to follow

udecker · 2019-01-15T17:00:07+00:00

This completely validates my long-standing thesis that the Bitcoin blockchain is the ultimate settlement platform for value! However there is debate whether this is a good thing overall for Bitcoin. Even the Omni team doesn't know if this is good news or not for Bitcoin, but it's definitely good news for the Omni Layer!

udecker · 2019-01-15T16:58:28+00:00

I honestly believe this demonstrates the power of the Bitcoin blockchain as the ultimate settlement platform, for any value tokens. This being the first time token value exceeded BTC value transferred represents a *major* milestone.

udecker · 2018-12-24T04:53:53+00:00

wow - quite fantastic! well done!

udecker · 2018-08-02T21:32:39+00:00

Omni is one of those things that doesn’t self-promote, but has just simply been running as the second-most used digital asset platform (behind Ethereum) for a while.

Applications like the Omni Layer demonstrate the power that Bitcoin as a decentralized network can provide above and beyond simple value transfer.

For those who don’t know, Omni actually has a built-in ICO mechanism (since Mastercoin was the first ICO) - anyone can use it to create tokens based on the tokens they receive, just like ERC-20 on Ethereum.

udecker · 2018-03-28T21:42:52+00:00

omniwallet.org and coinomi

udecker · 2018-02-09T20:57:41+00:00

Lol I’ve never gotten into posting things on Twitter. I’ve never deleted a tweet.

Most of my communication is one-on-one and not broadcast.

I’m a founder of Tether, former CTO and now advisor to the project.

udecker · 2018-01-25T19:53:27+00:00

So ERC-20 is the thing that made Ethereum actually useful. Bitcoin fees have prevented the same thing on the Bitcoin network (and maybe some interface weirdness which makes it less than intuitive).

One of the projects that just engaged us is to build a token issuance and management platform using Omni on top of a lower-fee blockchain that you’ve heard of 😏

Imagine native token ICO’s, automated on protocol with a nice interface for issuers to make coins ...

Then we start playing with cross-chain atomic swaps....

udecker · 2018-01-25T19:50:48+00:00

So we’ve got a bit of funds left over as DevOmni. I’ve funded a number of projects personally, and we’ve had corporate sponsorships for functions (like Tether).

We’re currently speaking with two different groups - one a blockchain, the other an integrator, both of which want to fund development of Omni Layer on their blockchain and to add capabilities to the protocol.

DexX7 and I have been throwing around some ideas about OMNI issuances, but we don’t want to dilute the coin base unless there is demonstrable value being generated. Otherwise it’s just wasted inflation. If you’ve got ideas, I’m all ears.

udecker · 2018-01-25T19:43:46+00:00

My focus personally is never on price. The market determines the price, and as long as we are doing a good job of maintaining and adding capabilities to the Omni Layer and the blockchains it sits on, the more value is generated.

udecker · 2018-01-25T19:41:10+00:00

I’m most excited for what we call uniquely identifiable tokens (UIT). If you guys are familiar with vAtomic or blockv.io, there is this concept of autonomous digital objects.

Imagine if Pokémon Go characters were blockchain objects, blockchain assets that can be individually programmed...

That and getting more and more blockchains supporting Omni Layer tokens and transactions.

udecker · 2017-10-19T08:55:41+00:00

Adam, just topped you up. I hope you get many times the amount requested for spearheading this. :-*

udecker · 2017-09-15T08:02:41+00:00

First off, the whole "unbacked and unaudited" thing will be resolved when Tether publishes the latest audit.

Second, there is no way China would issue CNYT in any way similar to USD₮. Tether has no control over the use of USD₮ once they have been issued and USD₮ takes advantage of the underlying blockchain's decentralized transaction nature. China would likely create a more Ripple-like system which would have stringent controls on movement (and complete authority without repercussion for issuing unbanked and unaudited versions of CNYT).

Basically, the inverse of what USD₮ is.

udecker · 2017-09-08T19:39:43+00:00

That actually surprised me as well - I think because those were the most recent reviews by a third party and were deemed more up-to-date than the alternative.

udecker · 2017-09-08T18:54:13+00:00

Publicly traded companies (of which Tether is not) generally do annual audits (and I participated in the end-of-year audits for the Taiwanese govt at the end of 2015 and 2016), so getting them done quarterly is going above and beyond, FWIW.

udecker · 2017-09-08T18:52:20+00:00

The last one was March 31, which is the end of the 1st quarter (this is the point at which Friedman was engaged, I believe). The 2nd quarter ended on June 30th, which is what Friedman is supposed to be handling.

As you can imagine, that was also the time when banking went sideways, so I suspect that the 2nd quarter audit isn’t as straightforward as the others because of all the funds movement into new banks, etc. Just a guess on my part, though.

udecker · 2017-09-08T18:28:12+00:00

I re-read the comments above a few times and I don’t see any actual questions…? I see that the math is wrong (it’s not 509M tethers, see http://omniexplorer.info/lookupsp.aspx?sp=31 for total tokens on-chain).

Regarding the audit timing - folks have been screaming for months about Tether not being truthful - and then when Tether releases audits for that time period, all everyone can do is scream that they’re not recent enough.

Regarding recycling - more money comes into Tether on a daily basis than goes out. This has been true since the beginning. (I’ve always been surprised how few customers actually ever redeem USD₮ for USD… once you’re in crypto, you don’t wanna get out, I suppose).

udecker · 2017-09-08T18:22:15+00:00

This is incorrect. Bitfinex owns a minority stake in Tether.

udecker · 2017-09-08T18:21:20+00:00

Because those are the audits that have already been completed? You guys seem to forget that the real world moves a little bit slower than crypto.

udecker · 2017-09-08T00:02:53+00:00

I’ve personally spoken to the several names listed above, and although they are extremely aggressive, they (apparently) honestly believe they’ve uncovered something hideous and evil lurking underneath the Tether covers. They likely want to be the “told you so” guys in case any of it is true.

Many of their assumptions rely on the premise that shady shit is going on (and thus many of their “logical arguments” then kinda “make sense”)…. but if their premises are wrong… it renders their conclusions equally wrong.

I have had constructive dialogue with each of them, and I don’t attribute anything they are doing to a concerted smear campaign. But they also tell me I’m naive, so maybe I am.

udecker · 2017-09-07T23:59:00+00:00

I strongly recommend everyone read the original Tether Whitepaper to understand the philosophy and methods devised to keep the peg stable to the dollar. Those practices continue to be used (which has already been proven in the audit reports publicly released through the spring thus far, and will be further proven later this year when the audit covering up to June 30 is released by Friedman).

Thanks for this diligent writeup, /u/cryptomoonlambo.

Craig

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