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Agreed, I think this is the craziest investing story in my lifetime. I remember people buying off-the-market IOUs for bitcoins from people who had accounts on
by staplers 6y ago
Agreed, I think this is the craziest investing story in my lifetime.
I remember people buying off-the-market IOUs for bitcoins from people who had accounts on Mt. Gox at a significant discount after they had announced they were illiquid and couldn't find them lol.
Link to the company:
https://bitcoinbuilder.com/ https://bitcoinbuilder.com/
Looks like they're still in pending status! Wow
- MrRadar 6y agoThe crazy thing is that people are still doing that with Tethers (USDT). They've admitted in legal filings that they only have 74% backing for them[1] and yet they continue to trade within 1 cent of par with the US dollar. Sometimes they even trade above par! It's madness. [1] https://www.bloomberg.com/news/articles/2019-04-30/tether-says-stablecoin-is-only-backed-74-by-cash-securities https://www.bloomberg.com/news/articles/2019-04-30/tether-sa...
- aianus 6y agoThe price of Bitcoin went up so much after the bankruptcy of Mt. Gox that the few bitcoins that were recovered were enough to pay off all their creditors (debts in bankruptcy are denominated in yen or dollars, not Bitcoin) and have a profit left over.