aent

9 ms·

31.
by aent 5y ago
That would be trivially easy to prove with a simple audit, which they have not done, so the default assumption must be that there is something fishy with them.
32.
$7.5B In Stolen Bitcoin from 2016 Bitfinex Hack has just been moved(twitter.com)
312 points by aent 5y ago|270 comments
33.
by aent 5y ago
I wonder what the collapse of the 46 billion fake tether dollars will do to it too. These exchanges could be a good way to short it for when it eventually happens, the only question is how to predict the timing.
34.
by aent 6y ago
-
35.
by aent 6y ago
Here's a recording of the martian wind from one of the rover microphones https://soundcloud.com/nasa/first-sounds-from-mars-filters-o...
36.
by aent 6y ago
https://twitter.com/justsaysinmice
37.
by aent 6y ago
They've been relatively modest with their scam for quite a while, e.g. they printed less than 5 billion in the first three years of their existence. Then another 5 billion in just 6 months, and then it went completely off the charts an
38.
by aent 6y ago
And meanwhile another 600 million has just been printed by them today. And a few hours later bitcoin price went up. Amazing daily coincidences.
39.
by aent 6y ago
Market cap is irrelevant when we don't know the trading volume, if I created a million random coins and sold one of them for a thousand, I'd have a billion dollar market cap coin, despite only having a thousand dollars of real mon
40.
by aent 6y ago
Because they keep printing more and more unbacked money to the point that they are the 3d largest crypto currency right now and almost all crypto trading happens in tether, not actual dollars, so it's unclear how much actual money ther
41.
by aent 6y ago
Nope. It's "backed by other assets", not backed 1:1 but "is always valued by Tether at 1 USD" and "Tether makes no representations or warranties about whether Tether Tokens that may be traded on the Site may be
42.
by aent 6y ago
Tether fake dollar printer has been going crazy the last few days, they printed a billion and a half in just 3 days. And no surprise there's an exact correlation between crypto prices and the amounts they print
43.
by aent 6y ago
>why aren't there charges filed against the company? There are, it's currently under investigation, lookup tether/bitfinex new york court case. Tether is needed as many exchanges cannot trade in USD so need a crypto-substi
44.
by aent 6y ago
>The gains can be explained by nothing else than mania and speculation And almost 22 billion fake tether dollars injected into the space.
45.
by aent 6y ago
See my comment below, they probably co-opted a lot of other exchanges on the scheme by giving out billions for IOUs
46.
by aent 6y ago
I think one of the reasons it's allowed to go on is that a lot of exchanges are in on it. This passage on tether's website specifically: >tether is always 100% backed by reserves which include other assets and receivables from
47.
by aent 6y ago
Just read their website. It used to say that it's backed 1:1 by USD, period. Now it says a lot of vague things, e.g.: >Every tether is also 1-to-1 pegged to the dollar, so 1 USD₮ is always valued by Tether at 1 USD. So it explicitly
48.
by aent 6y ago
Over 17 billion total last year. A shady company with no proof of actually holding any funds and real proof that they were kicked out of all the banks they tried to use, a court case against them and a text on their own website that says th
49.
by aent 6y ago
There's a direct correlation in the last 3 months between billions of printed tether and btc price. In the last few months they printed 11 billion fake dollars. Click "3 months" here and look at the charts of tether market ca
50.
by aent 6y ago
Or 21 billion fake tether dollars.
51.
by aent 6y ago
Closest you can get are probably podcasts with those researches, for example https://peterattiamd.com/podcast/
52.
by aent 6y ago
Yeah, the risk premium is surprisingly low: http://www.untether.space/ My guess would be that the Usdt is somewhat backed, so you can exchange some amount of it for usd and as long as no one questions any of that arbitragin
53.
by aent 6y ago
They dropped the claim of being backed by cash and now openly admit it on their website that they are backed by "other assets", which is probably mostly bitcoin they buy with all that fake money they print, which in turn raises th
54.
by aent 6y ago
Organize extracurricular activities for kids in the worst neighborhoods. Giving kids positive role models and teaching them useful skills (e.g. programming) could greatly improve things long term
55.
by aent 6y ago
*your I am not changing topics, my point is that when you see a price of $15000 on the exchanges, what you are actually seeing is mostly btc/usdt pairs, that is, you are getting 15k usdt for a bitcoin, not USD. You can see it in e.g.
56.
by aent 6y ago
It's mind boggling, few guys in some offshore company claim to be holding almost 17 billion dollars in cash somewhere when it was revealed they were kicked out of all the banks they attempted to use, and they keep printing money in the
57.
by aent 6y ago
It's 90%+ correct. Almost all trading volume is in Tether, which is erroneously assumed to be 1:1 with usd. Once the "bank run" on tether happens it'll be revealed that most of their billions are not backed by anything a
58.
by aent 6y ago
>Which it is. Until it isn't. There is zero proof those guys are actually holding their claimed $16,866,411,506 USD in cash somewhere, considering they were kicked out of all the banks years ago
59.
by aent 6y ago
Which all compose only a small percentage of the overall volume. You can't deny there's almost 17 billion "totally fully backed 1:1 by US dollars" tether floating around and almost all crypto trading happens against USDT
60.
by aent 6y ago
15000 usdT not usd, as most exchanges trade in tether, not actual dollars. Such price increase is probably related to Tether printing almost 7 billion dollars of (almost definitely) unbacked "USDT" in less than 3 months https:&#x

More ›