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I'm not sure if it is an illusion of safety, because the infrastructure around Bitcoin (which itself seems safe) is remarkably better now than it was 5 or 6 yea
by hndamien 9y ago
I'm not sure if it is an illusion of safety, because the infrastructure around Bitcoin (which itself seems safe) is remarkably better now than it was 5 or 6 years ago. This is nothing like how wild it was then, so in comparison, it seems like it is almost regulated.
- Jasper_ 9y agoSays who? Most of the popular exchanges don't trade in USD, they trade in Tethers, which only have a promise, not a basic audit, that they are backed by actual USD.
- hndamien 9y agoEverybody knows Tethers are worthless, and "backed" by a flimsy promise that they are not backed by anything. I would say that this is remarkably transparent that the Emporer has no clothes. Compared to Mt Gox, which I suspected was insolvent from their actions only while the world kept on believing. This is a major improvement.