871–880 of 976 posts
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> redeem at Tether Find me one person that has ever done this. Just one. I will wait.
I've done this for years via Bitfinex. Occasionally the wires are a couple days late but never any issues.
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> The American dream is to make it through hard work Now that's the actual con, or at least a pipe dream. Hard work is never enough. Luck plays a huge factor but few who get lucky, and then rich, will ever admit to that part.
> Now that's the actual con, or at least a pipe dream. Hard work is never enough. This seems like a bad faith, intentional misunderstanding of the concept of hard work. You're right, mindless hard work (with no proactive consideration for your own life trajectory) is not enough to "make it". If you take the first minimum wage job you find and you work hard at that job for 40 years, you're not going to make it. That d…
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I don't understand how you bodge a stable coin startup. Surely you just mint the tokens in exchange for dollars, and then put ~50% of the dollars in zero risk investments (some form of treasury bonds), and then take the 0.5-1% interest per year as your revenue. Tether currently has $81b marketcap so you could be making $400-800m per year doing basically nothing?
> Surely you just mint the tokens in exchange for dollars Step 1: find someone willing to give you dollars in exchange for a token that's guaranteed to be worth something between 0 and 1 dollars. Step 2: find a bank willing to let you be a money transmitter for millions of anonymous pseudo-dollars whose owner you have no idea of, setting off every single money laundering alarm in the building.
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Better than humans at all levels, or your average player? Are you suggesting that every Casino publishes an AI derived win rate for poker by law?
Perfect play, by definition, evens out. If everyone plays perfectly, then the ev should be zero (modified by position around the table). So it should balance to zero if everyone plays an equal number of hands from every position. The payoff would be adjusted by the rake.
I still wouldn't call it perfect play because as soon as someone adopts a fixed strategy, the meta game shifts and it is no longer optimal.
If anything, the assumption is equal play, not perfect play
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> If they can do that then there is a bunch of money to be made. Hoping to make money by betting on Tether collapsing is like taking out insurance against the event of a combined global thermonuclear war & genocidal alien invasion of the Earth. If you win the bet, you won't have anyone to collect from.
>If you win the bet, you won't have anyone to collect from. They have $78B of assets, not $78T. It wouldn't rival even the smallest of national defaults. Heavy rhetoric but a bit OTT don't you think?
They also have no obligation to pay anyone a cent of their reserves. Any USDT->USD exchanges they do/claim to do are a courtesy, not a requirement.
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But the black market has black market exchange rates. You can probably get something a little more reasonable on the open crypto market.
it's pretty much the same. Black market and crypto market are arbitraged between them so the price of one isn't too different from the other
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The problem with Tether is that for all we know, it could be completely unbacked and therefore worthless.
Well not completely, in the sense that they seem to be exchanging USDT for USD at a 1:1 ratio if you show up with 100k or more. There have been no reports of people that tried to get that and didn't get it. On the other hand maybe people holding a lot of USDT wouldn't not want to tell anyone else if they were unable to redeem it before they had sold it all on the exchanges...
There were no reports of Bernie Madoff not being able to repay investors until the day he ran out of cash.
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> people are not (and we do not expect them to be) experts in investment. So then they should stay out of the game. I totally disagree that we need a bunch of bullshit laws protecting people from poor decision making.
It's amazing the gymnastics people will do to shift responsibility off the supply side and onto the demand side. No, lying should not be rewarded. Ponzi schemes should not be rewarded. Currently, they are. Yes, we need more responsibility -- on the supply side . Demand side already has responsibility and correct incentives: the fools have been parted from their money. Done. This goes for small things, like NFT ponzis…
When has housing ever not been an asset class?
Real estate is and was the original asset class.
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> people are not (and we do not expect them to be) experts in investment. So then they should stay out of the game. I totally disagree that we need a bunch of bullshit laws protecting people from poor decision making.
this is about as logical as saying "just because we signed a contract doesnt mean I need to uphold my end of the contract. you should have known I wasnt going to be able to fulfill my end of our agreement" I agree with personal responsibility but not at the expense of communication. Imagine if every single person who moved a package was required to open the package and confirm the contents. It may be the only way to…
If I write "i owe you a billion dollars for your 64 diamonds" on a minecraft sign you shouldn't be surprised if I don't hold up my end of that.
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> people are not (and we do not expect them to be) experts in investment. So then they should stay out of the game. I totally disagree that we need a bunch of bullshit laws protecting people from poor decision making.
We need laws protecting people for malicious actors with significant funding who target people that lack knowledge on deeply technical topics like investing.