USDT analysis
- Thread starter JohnnyDoe
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But for FTX it made 0 sense as they were newbies in the crowded exchange space (est in 2019). Also sbf background story did not seem plausible, but that is a side note.
There were so many exchanges around working well for years.
Binance, Kraken, Coinbase, Bitfinex, Bistamp, Bitpanda (which is quite bad tho, but nevertheless).
Same can be said for circle usdc. They are new and need to catch up and close the big gap to the︀ first mover. It seems quite risky.
All companies where you are not day to day︁ sitting in them are blackboxes and no proof whatsoever is good, neither audit nor prospectus︂ nor xyz.
Only reliable metrics are passing of market tests under duress and adversity. But︃ at the end of the day one deals with black boxes and should act accordingly︄ (e.g. bankroll management).
There were so many exchanges around working well for years.
Binance, Kraken, Coinbase, Bitfinex, Bistamp, Bitpanda (which is quite bad tho, but nevertheless).
Same can be said for circle usdc. They are new and need to catch up and close the big gap to the︀ first mover. It seems quite risky.
All companies where you are not day to day︁ sitting in them are blackboxes and no proof whatsoever is good, neither audit nor prospectus︂ nor xyz.
Only reliable metrics are passing of market tests under duress and adversity. But︃ at the end of the day one deals with black boxes and should act accordingly︄ (e.g. bankroll management).
That was Deltec, correct?
Mt. Gox was caught doing that too, I believe.
I'm not making excuses for this︀ shady behaviour, but a lot of banks are hostile to crypto, and most banks back︁ in the day didn't want to assume any risk.
I remember back in the late︂ 90s/early 00s if you said you "ran an e-commerce site" to any bank they wouldn't︃ open an account. They saw the entire internet as too risky. haha
(STEAL YOUR) CRYPTO CAPITAL CORP
Omg.. I didn't know that part. Unreal.︈
Typical CZ. Your︌ funds are SAFU!
We are still waiting for Monero proof of reserves. We know they've︍ been selling fake paper for years. Probably slowly stealing from customers and hiding their loot︎ in Monero.
When that thing is about to collapse he will resign and pull a️ "it was working fine when I left guys" move like the CFO from Enron did.
Mt. Gox was caught doing that too, I believe.
I'm not making excuses for this︀ shady behaviour, but a lot of banks are hostile to crypto, and most banks back︁ in the day didn't want to assume any risk.
I remember back in the late︂ 90s/early 00s if you said you "ran an e-commerce site" to any bank they wouldn't︃ open an account. They saw the entire internet as too risky. haha
(STEAL YOUR) CRYPTO CAPITAL CORP
Omg.. I didn't know that part. Unreal.︈
Typical CZ. Your︌ funds are SAFU!
We are still waiting for Monero proof of reserves. We know they've︍ been selling fake paper for years. Probably slowly stealing from customers and hiding their loot︎ in Monero.
When that thing is about to collapse he will resign and pull a️ "it was working fine when I left guys" move like the CFO from Enron did.
The supply is 100% auditable, and there have been independent 3rd party audits. The link below explains it more.
/XMR/ Monero General Info-Dump
Ok.. well does anyone know the name of the unlicensed bank that Praetorian was referring to?
/XMR/ Monero General Info-Dump
Ok.. well does anyone know the name of the unlicensed bank that Praetorian was referring to?
This is completely wrong...lol.
If you make for example 4% yield on a bond but lose︁ 20% of the capital value of the bond due to Fed hikes you have a︂ net lose of 16%. on your holding 🙄. You have not factored in devaluation of︃ the treasuries since Fed hikes. See my previous example.
This all matters because if you︄ want to claim a 1:1 peg then you cannot allow devaluation on your balance sheet.︅ See my previous posts...lol.
If you make for example 4% yield on a bond but lose︁ 20% of the capital value of the bond due to Fed hikes you have a︂ net lose of 16%. on your holding 🙄. You have not factored in devaluation of︃ the treasuries since Fed hikes. See my previous example.
This all matters because if you︄ want to claim a 1:1 peg then you cannot allow devaluation on your balance sheet.︅ See my previous posts...lol.
It seems clear to me that some people who invested in USDT have no idea what they invested in or how a basic portfolio of none cash assets works.
I genuinely think there are people who think you can put $60bn into a portfolio of bonds, gold, T bills etc and the value of that portfolio and its underlying assets does not move from $60bn...lol 😕. They think the price of gold, bonds and T-Bills stays static 🙄.
P.S Lets hope the markets move in favour of Tethers portfolio and they can pick right time to do an audit 😉.
I genuinely think there are people who think you can put $60bn into a portfolio of bonds, gold, T bills etc and the value of that portfolio and its underlying assets does not move from $60bn...lol 😕. They think the price of gold, bonds and T-Bills stays static 🙄.
P.S Lets hope the markets move in favour of Tethers portfolio and they can pick right time to do an audit 😉.
It was another entity called Deltec, they were flagged for masquerading as another licensed entity with the same name but accepted any and all deposits for a time. It was basically an attempt at Euro Pacific Bank 2.0 but in the Bahamas.
Tether tried to pull a quick one here to make people think they were using a legit bank lol.
I recall people uncovered the two entities and that they didn't operate accounts at the︀ legit one for long. I could be wrong on that one though as its been︁ a while i didn't catch up on that mess lmao
Tether tried to pull a quick one here to make people think they were using a legit bank lol.
I recall people uncovered the two entities and that they didn't operate accounts at the︀ legit one for long. I could be wrong on that one though as its been︁ a while i didn't catch up on that mess lmao
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