News: Tether in the Netherlands and Puerto Rico, CoinHive thefts, CFTC pump-and-dump bounties, the market is stupid
Tether’s banking may be more interesting than we thought.
Attack of the 50 Foot Blockchain
Blockchain and cryptocurrency news and analysis by David Gerard
Tether’s banking may be more interesting than we thought.
“Bitfinex’ed”‘s Twitter got blocked, and the Tether printer started up again, just in time for the crypto price pump! Plus Tether legal concerns, and a timeline of Bitfinex and Tether.
And the cheapest way to get a good video card now? Buy a high-end pre-built PC and rip it out.
Tether, the “pegged” US dollar substitute token, crashed to $0.93 on Kraken last night. Here’s why this is important, and what a market depth chart shows.
Plus some interesting and useful opinion pieces.
I’m 5000 words into a 1500-word article on Tether, and 1000 words into a 300-word intro to IOTA. Meanwhile, elsewhere …
And James Altucher claims to know who Satoshi Nakamoto is, and that he reads Satoshi’s blog daily. Huge if true.
KYC/AML regulations are an endless source of woe for the Bitcoin trader. Why don’t banks want to go near Bitcoin? It’s not fear of competition.
Public discussion and media coverage of Bitcoin assumes certain things about Bitcoin:
• Bitcoin has a price, that you could expect to buy or sell it around.
• Bitcoin is like buying a share in a company, or a commodity like gold — the market works the same way.
• Bitcoin is liquid — you can easily convert your money to Bitcoin, and your Bitcoin to money.
None of these are true.
“Bitcoin is finance, distilled … There are no fundamentals, no cash flows or price-earnings ratios, to evaluate. It is pure speculation about speculation, a Keynesian beauty contest where all the pictures are blank.”