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Chalks posted:it feels like they've been doing this for so long how that it should have all collapsed ages ago and i just don't understand how it's still going. does anyone know what it'll take to actually make tether collapse? no exchange ever has ever done btc transaction reconciliation on the blockchain for the simple reason that it would be impossible to--the blockchain is slow and lacks the transaction volume to handle a single moderately busy exchange, much less all of them. tether is just a gimmick that lets them do the same thing with cash. in theory a bitcoin exchange is where people can trade cash for bitcoins and vice versa but in practice they're set up to have as little as possible to do with either cash or bitcoins so they're all just a spreadsheet (probably implemented via babby's first lamp stack) that nobody can look at and the only way to know if they actually have enough bitcoins or dollars to cover the balance in your account is to attempt a withdrawal. and literally every time we've managed to see the internals of any exchange they haven't i think tether/bitfinex is asymptotically approaching being the nft equivalent of a brokerage account--you pay a bunch of money and they'll provide you a link where you can see a picture of an account that contains a bunch of cash and btc but no, you can't actually do anything with it
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# ? May 21, 2021 20:59 |
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# ? Apr 23, 2024 22:34 |
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im late to tether chat but the beautiful thing about tether is that they're like crypto casino chips, like if bitcoin is plummeting and your only option is to cash out into tether, there's a huge separation from being able to take your ball of actualmoney and go home. if you want to get off the sidelines and cash out your winnings, you need to buy back into bitcoin and transfer it into one of the few exchanges with banking connections and hey you're buying back in, why not just keep gambling, withdrawal fees are a bitch and you'll be stuck in KYC for weeks and miss out on potential gains. so there's billions of casino chips in the ecosystem that can't actually leave, you can only use your USDT to buy back in instead of taking your dollar-denominated winnings and having them on your bank account, meaning there's always demand for coinz that can actually leave the exchange.
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# ? May 21, 2021 21:33 |
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https://twitter.com/rezendi/status/1395201154947031040
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# ? May 21, 2021 21:45 |
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the wonderful thing about tethers is that tethers are wonderful things their reserves are made out of thin air and their balance is made out of strings
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# ? May 21, 2021 21:45 |
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Chris Knight posted:the wonderful thing about tethers
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# ? May 21, 2021 21:53 |
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Chris Knight posted:the wonderful thing about tethers
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# ? May 21, 2021 21:55 |
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Chris Knight posted:the wonderful thing about tethers
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# ? May 21, 2021 22:37 |
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tether, that's spell'd T-E-DOUBLE FRAUD-ER!
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# ? May 21, 2021 22:46 |
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Chris Knight posted:the wonderful thing about tethers
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# ? May 21, 2021 22:47 |
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Chris Knight posted:the wonderful thing about tethers
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# ? May 21, 2021 23:10 |
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Boxturret posted:you call yourself an economist huh? well can you name 50 economies right now without looking it up? yeah i thought not there's fuel economy, the attention economy, the sexual economy, the rare pepe market...
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# ? May 21, 2021 23:18 |
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what was that about porn actors and companies not wanting anything to do with buttcoin bullshit? sounds like they just haven't been pitched the right buttcoin bullshit #ifyouknowyouknow
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# ? May 21, 2021 23:25 |
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Chalks posted:it feels like they've been doing this for so long how that it should have all collapsed ages ago and i just don't understand how it's still going. does anyone know what it'll take to actually make tether collapse? the collective delusion continues working as long as they believe in it, so they will continue to believe in it
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# ? May 21, 2021 23:30 |
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once you know, you cumrocket
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# ? May 21, 2021 23:31 |
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ah yes, when i think privacy i think of the publicly viewable ledger
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# ? May 21, 2021 23:49 |
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"do your own research" is never not a synonym for "i can't defend this if pressed"
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# ? May 22, 2021 00:09 |
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Teether?
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# ? May 22, 2021 00:10 |
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Paladinus posted:70,000 Teether?
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# ? May 22, 2021 00:12 |
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i always wonder how all these people do their own research like the people that fall for an musk scam, they say they looked into it and it seemed legit, but literally all the google results are of how it's a scam
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# ? May 22, 2021 00:14 |
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Combing Twitter for tips is research. https://twitter.com/litcapital/status/1395862093598007301
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# ? May 22, 2021 00:16 |
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Juul-Whip posted:what was that about porn actors and companies not wanting anything to do with buttcoin bullshit? sounds like they just haven't been pitched the right buttcoin bullshit #ifyouknowyouknow Yeah privacy and deniability is important, I would rather people not know whether I bought lunch or porn with my CumRocket
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# ? May 22, 2021 00:22 |
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i'll be honest with you here, i only bought cumrocket, elons sperm, and whale cum because i thought they had good fundamentals and the price would go up asymptotically and i'd never have to work again
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# ? May 22, 2021 00:26 |
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i guess it shouldn't surprise me that the crypto people are the ones paying for porn
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# ? May 22, 2021 00:26 |
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"Utility" coins are the best. The utility is always someone imagining that this thing named after something could be used for services in that sector. Remember Dentacoin, apparently on a mission to revolutionize payments for dentistry?
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# ? May 22, 2021 00:58 |
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Boxturret posted:i always wonder how all these people do their own research They read helpful reviews left by other twitter users. How can so many people lie about getting their coins double? Surely, it's more likely they are telling the truth than there's a grand conspiracy of people lying on the internet about Elon Musk.
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# ? May 22, 2021 01:15 |
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what does this sign on this hole here say? "free money, not a scam" wow, that must be too good to be true, i'd better do some more reading on this. "free money" that seems good. "not a scam" well that's good to know. okay i feel i've done the appropriate amount of research to be able to wisely invest my money
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# ? May 22, 2021 01:22 |
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Sagebrush posted:i guess it shouldn't surprise me that the crypto people are the ones paying for porn
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# ? May 22, 2021 01:24 |
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the people who loudly yell about buying things with bitcoins vanish into the aether once someone actually starts accepting them, only to reappear once they stop accepting bitcoins to harass or dox the store owner
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# ? May 22, 2021 01:37 |
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tether is like chips at a casino where the bank closes whenever the line gets long and then everyone has to repeat their last bet until it opens.
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# ? May 22, 2021 03:54 |
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# ? May 22, 2021 04:11 |
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its insistence that it is in fact food is making me very worried
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# ? May 22, 2021 04:18 |
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anyway that can't possibly be real can i- https://simply-food.com/products/hodl-noodle-pack quote:We raise a cup of our finest noodles to the underdogs who won big — and will continue to win big. Simply Food is proud to share this memento with fellow retail investors. god dammit
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# ? May 22, 2021 04:20 |
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100% of net profits will be converted to cryptocurrency for absolutely no reason and then foisted upon charities whether they want it or not
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# ? May 22, 2021 04:21 |
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quote:LIGHT, FRESH, MUSHROOM UMAMI...WORTHY OF HODLING!
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# ? May 22, 2021 04:26 |
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*pen and paper* which part of the Seine was it?
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# ? May 22, 2021 04:30 |
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oh good a blog post about it https://simply-food.com/blogs/news/...rypto-investors quote:Among these financial revolutionaries was the team at Simply Food, one of the largest privately-owned food manufacturers specializing in premium vegetarian instant ramen and rice products. Today, in celebration of those pioneering GameStop investors, Simply Food launches a unique instant noodle bowl to commemorate this epic financial event — the HODL NOODLE. Flavored with mushroom, vegetable seasoning and “the painful tears one sheds from HODL-ing,” this limited edition product is a decidedly satirical and tongue-in-cheek meme brought to life – the perfect meal for our internet age. i notice they're not being donated anymore for some reason, weird
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# ? May 22, 2021 04:31 |
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Gazpacho posted:tether is like chips at a casino where the bank closes whenever the line gets long and then everyone has to repeat their last bet until it opens. dealer: *takes chip off your stack* you: "what the gently caress i didnt put that on the tip line!" dealer: "haircut. Casino got heisted"
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# ? May 22, 2021 04:48 |
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Shame Boy posted:100% of net profits will be converted to cryptocurrency for absolutely no reason and then foisted upon charities whether they want it or not oh what a shame crypto crashed we're not profitable this week we will however donate to the needy cuz we needy some money!
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# ? May 22, 2021 04:50 |
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the koalas march principle
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# ? May 22, 2021 04:53 |
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# ? Apr 23, 2024 22:34 |
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do i want to know why there's an asian lady in a conical hat on the box
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# ? May 22, 2021 05:19 |