391–400 of 517 posts
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I've tried, six months on they are still stringing me along saying we'll get back to you. As far as I know tether only allowed a few crypto "king makers" to redeem tether, and even then, only at a very small scale.
Several exchanges list USDT/USD pair.
There is no evidence that this is the case. Tether sure doesn't offer such a service openly.
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The same four countries get brought up by BTC proponents all the time. Yes, evading authoritarian regimes can be useful. But like 1/3 of the planet lives in just India/China. Going from "a use case is sending cash from the US to your family in Iran" to "2/3 of the world population wants this" is a big leap.
Which ones—Cuba, Venezuela, Iran, and Argentina? I don't think Bitcoin adoption is terribly high here in Argentina, but hopefully you can forgive me bringing it up—I live here, so it's the place I know best, and the uses of Bitcoin are pretty easy to understand here even if most people aren't using it yet. And even those four countries are hardly inconsequential in terms of the global commonweal: 170 million people l…
I've been following Tether for quite a long time. I have no absolute proof it is a scam but the writing is on the wall. Here are some facts. - The current Market Cap of USDT is 34 Billion Dollars. It was 4B this time last year. Since the value is pegged this means there has been an influx of cash of 30 B into this shady company in the last year alone. Who invested this money? We have no idea since Tether doesn't disc…
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Go lookup a graph of the sp500 from 2000 to 2010. There are no guarantees that it will always trend up.
Go look at that same graph from 2007 to 2021. If you bought in at the top of the 2008 bubble, you'd have tripled your money by now. Unless you're planning on retiring in the next 10 years, buy stocks.
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Which ones—Cuba, Venezuela, Iran, and Argentina? I don't think Bitcoin adoption is terribly high here in Argentina, but hopefully you can forgive me bringing it up—I live here, so it's the place I know best, and the uses of Bitcoin are pretty easy to understand here even if most people aren't using it yet. And even those four countries are hardly inconsequential in terms of the global commonweal: 170 million people l…
Isn't there really any service that lets you buy and use USD, EUR, GBP... online? And if not, would you still continue to buy crypto if one of these currencies was available?
Bitcoin is so far not heavily regulated, but presumably will be. But it doesn't provide the scrumptious, juicy central point of control that the Banco Central de la República Argentina does; regardless of what the law says, there's no practical way to confiscate every Argentine's Bitcoin savings between sunset and sunrise.
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Almost all fiat deposits into Bitfinex create USDT. Thats an additional fact that the amount is in line with the amounts that would be deposited into any big exchange. If Coinbase minted USDC whenever someone deposited, you would see the same kind of growth. The basis of your entire post is assuming impropriety based on pretty normal behavior with the addition of the business quirk of when USDT is created. The abilit…
How come you just come here telling that deposits in bitfinex creates USDT But Paolo himself post that all the usdt minted is 'tron replenish' everytime whale alert tweets about 800,000,000 USDT frwshly minted So, basically, in your intentions to defend USDT you are even contradicting what its own CEO says... It's also funny how tesla 1.5b investment and microstrategy few millions buy are to be 'celebrated' as big an…
> ... yet you are trying to convince us there is people depositing 800m daily into bitfinex?
800m daily would have meant 300 bn USDTs created in a year. They create 30 bn in a year, no 300 bn. It's huge but you are one order of magnitude off no?
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https://www.theblockcrypto.com/post/95207/bitfinex-tether-ne... > Jason Weinstein, a partner at Steptoe & Johnson and counsel to Bitfinex and Tether
Ahh, so their attorney said something nicely carefully worded, intended to imply to the lay person: "There was no specific finding that allegation X had absolutely occurred, so this shows that all along, allegation X has never occurred".
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Some believe this is an intentional Ponzi scheme to print some money for the owners of Tether and Bitfinex, others believe they had good intentions at first, but through bad investment or otherwise got underwater, and started "investing" their USDT-backing dollars to claw back up. Bitfinex originally denied relation to Tether but it's been proven that was a lie. The worry is, at some point there could be a "run" on T…
Another dumb question: If they've been buying assets like BTC using the USD that they were supposedly keeping as reserves, shouldn't they have made massive amounts of profits since 2018, and be in a position to now return the USD reserves so that it's 1:1, while keeping billions in profits for themselves?
It's hard to analyze Tether/Bitfinex's risks here because, well, they have been fairly opaque about what their actual financial situation is, so people are relying on their gut instincts to guess what it is.
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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…
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BTC has been the #1 asset over the last 10 years. In many individual years it has out performed every other asset. It has this year by a large amount. At some point the dissenters will have to admit they were wrong. The reality is, BTC is here to stay and is a valuable hedge that is independent of any corporation, government, or central bank.
This statement, minus the political content, sounds very, very, very similar to what I was hearing about tech stocks a bit over 20 years ago, and houses about 15 years ago. Maybe that means something, maybe it doesn't. If I had some way of knowing, I'd have a lot more money than I am now. It's worth remembering, though, that prices are just that: prices. Nothing more, nothing less.
Well those two performed pretty damn spectacularly in the past 20 years.