blocksceptic

6 ms·

1.
by blocksceptic 9y ago
Even if it makes sense today, if the approach became commonplace, it would become a lot less effective, as it would require a commensurate and sustained increase of the value of the relevant cryptocurrency for the $0.02/hour that is cu
2.
by blocksceptic 9y ago
Oh I agree, but I was pointing out that this doesn't even make sense economically - let alone environmentally.
3.
by blocksceptic 9y ago
This idea is fundamentally flawed because mining is ultimately a zero-sum game. If this approach became commonplace as the author suggests, it would greatly increase the number of publishers squabbling over much smaller pieces of the pie. I
4.
by blocksceptic 9y ago
Where is the audit? Where is the balance sheet? At which banks are those funds held? Even IF those tethers are 1:1 backed today, they won't be once uncle sam figures it out.
5.
by blocksceptic 9y ago
in my opinion, the un-tethering will almost certainly come when the market stops valuing 1 USDT at 1 USD. No amount of crypto handwaving can create fiat balances at actual financial institutions, so this will likely happen when new money co
6.
by blocksceptic 9y ago
This guy has an interesting theory about how this may have come about: https://www.reddit.com/r/Buttcoin/comments/7sr33e/i_have_a_t...
7.
by blocksceptic 9y ago
Even if tethers are backed 1:1, the level of secrecy about the details means it's hard to believe there isn't something illegal going on around them. By holding tethers, best case scenario, you're exposed to a significant ris
8.
by blocksceptic 9y ago
Many have speculated that a good portion of the volume on bitfinex is wash trading by insiders, who are presumably not paying the same trading fees as everyone else.