On today’s episode of The Cryptoverse…
At 3 pm London time yesterday, Cameron Winklevoss posted an article on Medium with the title “Gemini Launches the Gemini dollar: U.S. Dollars on the Blockchain”.
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The official announcement:
https://medium.com/gemini/gemini-launches-the-gemini-dollar-62787f963fb4
The story of Bernard von NotHaus
https://en.wikipedia.org/wiki/Bernard_von_NotHaus
The page audit reports will appear on:
https://gemini.com/dollar/#reports
The audit report for launch:
https://gemini.com/wp-content/themes/gemini/assets/img/dollar/gemini-dollar-examination-report-09-09-18.pdf
The website of their accounting firm:
https://www.bpmcpa.com/
The Gemini dollar smart contract:
https://etherscan.io/token/0x056fd409e1d7a124bd7017459dfea2f387b6d5cd
The security audit report:
https://gemini.com/wp-content/themes/gemini/assets/img/dollar/gemini-dollar-trailofbits-audit.pdf
I was not as excited about this until I heard your thoughts as others like True USD (TUSD) have failed to get market share from Tether despite also providing similar concepts to Gemini’s token. However, one great benefit is like Tether, the Gemini Dollar will be controlled by an exchange and that can provide added liquidity as they can launch more trading pairs for the token than others have tried. However, Gemini is quite limited in the assets it lists on its exchanges. Given the regulatory environment, I cannot see them adding many more assets so we may see a delayed use of the Genini Dollar in the meantime.
I had to hop on my Gemini account to check this out. Unfortunatelyy, it is not yet available for United States customers. :-(
Ron who works on my team is based in New York and was able to get some GUSD no problem. Are you based somewhere else?
I am in Chicago. When I logged in and clicked on the Gemini dollar tab, I got a banner at the top of the page saying they weren't available in my state of residence. Ah well. Maybe only New York residences can get it for now.
At least this is something brought up by 2 reliable people in the crypto community. Tether is frickin sketchy as hell. Thanks for posting your thoughts on this man!
What's scary with tether is that we use it to have a stable currency but the level of transparency at USDT is so low that there's always that feeling of doubt floating around it.
This is indeed much more exciting than it sounds at first! I wonder how the upcoming of the Gemini Dollar will affect usage of Tether, True USD and other similar currencies.
But yay! Finally a stable coin that is getting properly audited!
I really didn't care when I heard about this, but after your video I'm a little interested. I don't have a Gemini account but I'll sign up today and check it out! Thanks for the info and have a wonderful day Sir!!!!
Lets hope that @binanceexchange starts to use it, like they did with TUSD.
That would be huge :)
Chris, are you of the opinion that tether isn't legit? Loved your podcast on kUSD.
I am not able to form an opinion because we just don't know. That's the biggest problem with Tether. In the absence of information the mind will tend to fear the worst.