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  1. #2901
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    Bitcoin is used for lots of criminal activity and exploitation too.

    https://www.bloomberg.com/news/artic...-bitcoin-trail

    Don't buy gold or Bitcoin.
    Quote Originally Posted by XXX-er View Post
    the situation strikes me as WAY too much drama at this point

  2. #2902
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    Quote Originally Posted by Bromontane View Post
    Toyota supplies Al Qaeda, don't buy or own Toyota products.

    https://qz.com/519171/how-did-the-to...avorite-truck/
    no somone illegally supplies al qaeda with toyotas.

  3. #2903
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    The crux of the matter is whether Bitfinex/Tether issued USDT without equivalent reserves in a bank account and not the complexity of the cryptocurrency ecosystem, the complexity of which the paper fully acknowledges. The paper may well be flawed because the authors' don't have access to internal data but Bitfinex/Tether haven't been forthcoming either via an independent auditor making this something of a Rorschach test.

    Tether could have 100% capitalized reserves or 0% capitalized reserves because from the outside looking in the two are indistinguishable if USDT aren't redeemable for USD. Until USDTs are redeemable at scale, chart(s) showing USD $billions/volumes are suspect because the real number is $0 USD.

  4. #2904
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    Quote Originally Posted by Bromontane View Post
    Tether copped to a deficit of up to 25% IIRC, then modifying that to 16% a few months later. The remainder being that loan to bitfinex (its largest partner at the time of the loan). And the underlying cause of the need for the loan was confiscation by authorities.

    This stuff is concern trolling though. There is zero intellectual integrity in decrying an 84% liquid reserve ratio while tacitly endorsing a system of 10% RRs. Tether is not systemically important to the global financial system. Its failure would be met with another firm stepping in with a liquidity token. And its role is to support an industry that does not recognize centralized authority, rendering attempts to highlight noncompliance as pointless.

    The crux of the initial paper AFAIK was un-backed issuance of USDT. Now that it's been retracted or at minimum wholly unproven, the claims morph into various forms of gaslighting.
    Tether vs Crypto vs Fiat is a separate discussion, hence the Rorschach test.

    You might be right about the 84% liquid reserve ratio but there's no way today for an outsider to know because USDT aren't widely redeemable and there is no centralized authority. So I'm not sure un-backed issuance of USDT has been wholly unproven. Whether it's the loan to bitfinex, or whether the reserves are held by unaffiliated shell corporations, or the questionable forks, or the Bitfinex "hack" and subsequent issuance of tokens in lieu of dollars, does Bitfinex/Tether from a technical standpoint have any reserves? Isn't that an interesting, not a pointless, question?

  5. #2905
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    Bitcoin....who's gotten into it?

    Bonds are assets.

  6. #2906
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    Quote Originally Posted by 4matic View Post
    Bonds are assets.
    Both Jezebelle and James!

  7. #2907
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    Deep dive today from The Globe and Mail:

    Before Quadriga: How shady ventures in Gerald Cotten’s youth led to the creation of his ill-fated cryptocurrency exchange
    http://archive.is/jYFBk

    "Some investors were genuinely duped. But others knew HYIPs were fraudulent and figured that, by getting in early and then withdrawing their money before a program collapsed, they could profit at the expense of less savvy participants."

    LOL



    And then, on the same day, Vanity Fair comes out with a more dramatic read:

    PONZI SCHEMES, PRIVATE YACHTS, AND A MISSING $250 MILLION IN CRYPTO: THE STRANGE TALE OF QUADRIGA
    https://www.vanityfair.com/news/2019...-gerald-cotten


    When is the movie coming out?
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  8. #2908
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    ^Oh so it's going to zero now.
    The pacifists always lose, because the anti-pacifists kill them.

  9. #2909
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    It's actually going negative like interest rates. You'll have to pay someone to accept it.

    Sent from my SM-G950U using TGR Forums mobile app
    "Skiing is the easy part, Carl."

  10. #2910
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    Quote Originally Posted by SlyFoxxx View Post
    It's actually going negative like interest rates. You'll have to pay someone to accept it.

    Sent from my SM-G950U using TGR Forums mobile app
    Except with Bitcoin, you will have to pay them with real money to accept it.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  11. #2911
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    Quote Originally Posted by AKPogue View Post
    ^Oh so it's going to zero now.
    OK
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  12. #2912
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    Quote Originally Posted by m964rsa View Post

    The notion that tether issuance preceding btc runups is suspicious imo betrays an embarrassing level of ignorance regarding market mechanics though.

    ].
    You can’t assert something like this, that is in essence one of the main knocks against the Bitcoin ecosystem at present, and not make a defense of it.

    Well you can but you sound like a shill and not someone actually interested in making a defended argument.

    If they create Tether with no backing then at best it’s no better than fiat and at worst it’s a pump the market tool that conveniently raises prices or defends against downward movements of BTC (and others as they tend to follow general movements of BTC).

    The comparison to fiat and other assets of choice to store wealth is important because most assets will, in efficiently clearing markets, reflect the value of the underlying asset and the relative devaluation of the asset of supply is over pumped such as the inflationary printing of money. If the True USDT ratio is not known and is in reality far less than 1:1 then the asset is over inflated - ie the value of BTC et al should go down by some percentage - is it 13% as the above suggests or more like 50% ? No one knows and the clues are there. That condemnation of the study is a exercise in deception and dishonest arguments.



    Sent from my iPhone using TGR Forums
    Quote Originally Posted by Benny Profane View Post
    Keystone is fucking lame. But, deadly.

  13. #2913
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    Quote Originally Posted by puregravity View Post
    Except with Bitcoin, you will have to pay them with real money to accept it.
    Fiat is real, my mom said so. Who cares if a $100 bill only costs $.14 to print...

    Sent from my SM-G950U using TGR Forums mobile app
    "Skiing is the easy part, Carl."

  14. #2914
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    Quote Originally Posted by m20adb View Post
    BTC is the ~12th or 13th largest base money out there (link). Issuance rate goes to ~1.7% of supply in April from its current ~3.5%, then down to ~0.8% in 2024. Between now and then, so long as cryptography stays viable & the internet continues to function, it will continue to compete with un-backed paper monies managed by politicians. And if the cryptography is compromised by quantum computing, one of a few hundred thousand ledger copies can be paired with a new hashing algorithm to reboot. It's tremendously asymmetric in terms of difficulty of killing it & discipline within its system vs. the competition.

    versus USD
    Attachment 303484

    s2f model valuation
    Attachment 303485

    volatility going down over time alongside decay in price increases
    Attachment 303486
    Good to see that you are using log sharts again.

    In general, most traders and charting programs use the logarithmic shart scale, but it is always a good idea to explore other approaches to determine which is the most suitable for your trading style.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  15. #2915
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    Quote Originally Posted by m20adb View Post
    It's an absurdity to present fallacies & demand thoughtful refutation. Often times it's a tactic of disingenuous trolls to invoke the bullshit asymmetry principle as a means of exhausting opponents while serving narrow interests..
    ...
    Why did you create a new account (and change the name of your old account)?

    Why not just use your old one - with your elaborate and amazingly intelligent crypto discourse?
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  16. #2916
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    Cryptoqueen: How this woman scammed the world, then vanished
    https://www.bbc.com/news/stories-50435014

    Dr Ruja disappears
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  17. #2917
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    Quote Originally Posted by puregravity View Post
    Cryptoqueen: How this woman scammed the world, then vanished
    https://www.bbc.com/news/stories-50435014

    Dr Ruja disappears
    No blockchain associated with that crypto currency? WTF. Those investors belong in the Darwin thread.

  18. #2918
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    Name:  LLW52wL.png
Views: 439
Size:  59.2 KB
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  19. #2919
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    Lambos? I havent seen any pics from the bitcoin addicts in this thread with new cars? Sup with that?

  20. #2920
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    Three Men Arrested in $722 Million Cryptocurrency Fraud Scheme

    https://www.justice.gov/usao-nj/pr/t...y-fraud-scheme

    NEWARK, N.J. – Three men were arrested today in connection with a cryptocurrency mining scheme that defrauded investors of $722 million, U.S. Attorney Craig Carpenito announced.

    Matthew Brent Goettsche, 37, of Lafayette, Colorado, and Jobadiah Sinclair Weeks, 38, of Arvada, Colorado, are charged by indictment with conspiracy to commit wire fraud and Goettsche, Weeks, and Joseph Frank Abel, 49, of Camarillo, California, are charged by indictment with conspiracy to offer and sell unregistered securities. Goettsche was arrested in Colorado, Weeks in Florida, and Abel in California. All three are scheduled to have their initial appearances in the districts of their arrests. Two defendants remain at large and their identities remain under seal.

    “The indictment describes the defendants’ use of the complex world of cryptocurrency to take advantage of unsuspecting investors,” U.S. Attorney Carpenito said. “What they allegedly did amounts to little more than a modern, high-tech Ponzi scheme that defrauded victims of hundreds of millions of dollars. Working with our law enforcement partners here and across the country, we will ensure that these scammers are held to account for their crimes.”

    “Those arrested today are accused of deploying elaborate tactics to lure thousands of victims with promises of large returns on their investments in a bitcoin mining pool, an advanced method of profiting on cryptocurrency,” Paul Delacourt, the Assistant Director in Charge of the FBI’s Los Angeles Field Office said. “The defendants allegedly made hundreds of millions of dollars by continuing to recruit new investors over several years while spending victims' money lavishly.”

    ...
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  21. #2921
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    Crypto Exchange BitMex Is Hit With $300 Million Investor Lawsuit

    https://www.bloomberg.com/news/artic...estor-lawsuit?
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  22. #2922
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    It really blows my mind how people regularly drop $5-10k/yr on tech talk 'investments' while thinking btc is too risky to buy one, 1/4, 1/10th.

  23. #2923
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    Quote Originally Posted by m20adb View Post
    It really blows my mind how people regularly drop $5-10k/yr on tech talk 'investments' while thinking btc is too risky to buy one, 1/4, 1/10th.
    Why does that blow your mind?
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  24. #2924
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    Lawyers for clients who lost millions in the bankruptcy of the QuadrigaCX digital currency exchange have formally asked the RCMP to exhume the remains of the firm's founder.

    https://www.cbc.ca/news/canada/nova-...tion-1.5396811

  25. #2925
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    Quote Originally Posted by bennymac View Post
    Lawyers for clients who lost millions in the bankruptcy of the QuadrigaCX digital currency exchange have formally asked the RCMP to exhume the remains of the firm's founder.

    https://www.cbc.ca/news/canada/nova-...tion-1.5396811
    Ha ha. That's too much!

    Although, he probably did die of some bowel disorder.
    Probably from a buildup of toxins from years of scamming people,
    a true realization that he was a sad sort,
    to even scam an orphanage whilst on a fake news campaign!

    And then, boom! All those little nodules in his intestine finally protested.
    Nature itself, could not contain the evil that this sad excuse harbored in the bowels of his
    High Yield Investment Schemes.

    So in a way, nature wins.
    Natural selection even finds a way to purge evil.


    As suspect as his death seems, the timing and all, it is probably the catching up of his life's providence
    -- that speaks of many scams, many victims, and much conniving and bad associations,
    that in turn may have inadvertently turned his own biology against himself.

    Which brings me to Mark, Chapter 9:

    “If anyone causes one of these little ones—those who believe in me—to stumble, it would be better for them if a large millstone were hung around their neck and they were thrown into the sea.

    If your hand causes you to stumble, cut it off. It is better for you to enter life maimed than with two hands to go into hell, where the fire never goes out. And if your foot causes you to stumble, cut it off. It is better for you to enter life crippled than to have two feet and be thrown into hell. And if your eye causes you to stumble, pluck it out. It is better for you to enter the kingdom of God with one eye than to have two eyes and be thrown into hell, where

    “ ‘the worms that eat them do not die,

    and the fire is not quenched.’

    Everyone will be salted with fire.

    “Salt is good, but if it loses its saltiness, how can you make it salty again? Have salt among yourselves, and be at peace with each other.”


    Indeed, some user here in this thread, with 5,000+ posts, before they changed their user handle, said recently that
    many millennials have been suckered into putting
    sizable portions of their investments (as small as that is) into Bitcoin and crypto.


    Have these millennials been caused to stumble?

    Will their Greyscale Investments ever return them anything?
    Probably not. They will probably get pennies on the dollar.

    Scammer gonna scam. That's what they do.

    But nature wins.
    Gerald Cotten's worms probably ate him to death in India,
    and they will probably eat him to death in the afterlife too.
    Long love nature.
    Nature Always Wins.
    Last edited by puregravity; 12-17-2019 at 05:45 PM.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

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