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Buy all the non perishables, non obsoletables you're going to need for the next decade. Buy them in discounted bulk for and extra return. Bonus: capital gains tax free!
So invest in toilet paper?
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> (probably is now) This kind of argumentation makes cryptocurrency proponents so insufferable. There’s no evidence Tether is backed, but somehow we can just assume in a parenthesis that they probably are, and then go on a tangential rant about banks or fiat or digital gold or something.
Seems logical they would given the investigations and the reason they supposedly didn’t have the funds at the time. I don’t think tether is necessary or a good idea, simply stating what I see. Frankly, the AG admitted it was backed, just not “the entire time”.
The AG did not. Certainly not completely, nor to the extent that Tether claims that it is. The AG merely acknowledged that Tether had some portion of the funds it claimed to.
"Contrary to online speculation, there was no finding that Tether ever issued tethers [USDT] without backing, or to manipulate crypto prices" I hope that ends the spreading of FUD - claiming that bitcoin and other cryptos are propped up by the printing of fake tethers - which seems to spread here every time there is a sharp rise in prices.
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Both are still printing machines. Dollars are backed by faith in the USA. Is there any difference ? Powell - "We print money digitally. As a central bank, we have the ability to create money." https://www.youtube.com/watch?v=ff6SDsaS7rI
| Dollars are backed by faith in the USA. Is there any difference ? Jesus lord, yes, absolutely. The weight of the US Empire and all its combined military and economic might versus what... some shell corporations and the whisper of a promise?
Many people think that money is money. They think money is what makes a nation strong, not products and services. I don't know how even highly educated people missed this part.
Money is a side effect of power, not the other way around.
It appears from the link in the settlement agreement: https://ag.ny.gov/sites/default/files/2021.02.17_-_settlemen... Tether wasn’t backed at all times. The argument was that this happened due to asset seizures in Poland and Portugal in 2017-2018. https://www.theblockcrypto.com/post/95207/bitfinex-tether-ne... Seems to me they couldn’t prove malicious intent, so they suggested they stop trading. Frankly this seems a…
If they're backed then they can prove it with an audit. Considering their last auditor told them to kick rocks, I'm highly skeptical.
"Tether must offer public disclosures, by category, of the assets backing tethers, including disclosure of any loans or receivables to or from affiliated entities. The companies will also provide greater transparency and mandatory reporting regarding the use of non-bank “payment processors” or other entities used to transmit client funds."
So from now on Tether must be backed 1:1 and provide transparency. This should severely limit the risk of Tether blowing up the crypto ecosystem.
It appears from the link in the settlement agreement: https://ag.ny.gov/sites/default/files/2021.02.17_-_settlemen... Tether wasn’t backed at all times. The argument was that this happened due to asset seizures in Poland and Portugal in 2017-2018. https://www.theblockcrypto.com/post/95207/bitfinex-tether-ne... Seems to me they couldn’t prove malicious intent, so they suggested they stop trading. Frankly this seems a…
> probably is now Here are the facts we know about Tether being backed: 1. They used to say they were backed 1 to 1 by cash. 2. This was a direct lie. 3. They now say they are backed 1 to 1 by cash and "cash equivalents", not otherwise specified. Which one of these facts is it that you are basing your claim that they "probably are now" on?
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What’s your recommendation for least-worse inflation hedge?
I'm mostly kidding... Buy forever stamps from USPS. As they raise the price of postage, your stamps will go up in value, and then you can sell them for a profit! This is probably a terrible idea, but it makes me giggle. Now I'm imaging some sort of push on r/wallstreetbets to YOLO on stamps, posting insane strategies on how to predict when the price of postage will go up, by how much, and how liquid the market is for…
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It has? Bitcoin isn’t an alternative to the existing system for people. It might be a digital alternative to gold for people hedging inflation or in failed states, but its transaction fee is just way too high to be a practical alternative to anything but, like, wire transfers (Visa and ACH are WAY cheaper except for huge transfers... and Bitcoin isn’t particularly fast, either). And this high cost is driven by the fu…
If you live in a country with a highly functional banking system and no kleptocracy, Bitcoin is probably a bit puzzling unless you have family in Cuba. But it's not puzzling at all for those of us who live somewhere in the middle of the broad spectrum between Switzerland and Somalia, because most places have a little kleptocracy. Argentina is far from being "a failed state," but if you want to send US$500 abroad via…