“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.”
All the stuff I didn’t have time to post in the past few days, plus the fallout from the stuff I did have time to post.