So it turns out Tether only holds 3% cash, the rest IOUs etc.

S2007S said:
So with all this new wave of technology and the banks knowing allllllllllllllll about this new transfer of sending money to other entities with certain cryptocurrencies, how come the banks can't just create their own systems to do ach and other money transfers In seconds instead of days?
More...

Many instant payment solutions are available, but there's no single universally interoperable system for cheap instant payments.

The Fed is racing to correct this however and is supposed to launch "FedNow" to supplant FedWire in 2023.
 
Why has this not moved the markets much or gain much media attention?

Because unless you have been living under a rock since last year, the misrepresentation of Tether and other iFinex scandals have been WELL KNOWN and thus are PRICED IN. Since none of this is NEW INFORMATION to the markets, the markets are NOT going to react to it.
 
The_Krakenite said:
Why has this not moved the markets much or gain much media attention?

Because unless you have been living under a rock since last year, the misrepresentation of Tether and other iFinex scandals have been WELL KNOWN and thus are PRICED IN. Since none of this is NEW INFORMATION to the markets, the markets are NOT going to react to it.
More...

it has not been priced in. Majority of people do not even know it exists and think that cryptos are like any other asset is traded in fiat.
 
Butterfly said:
you haven't been following the news about hacked exchanges and disappearing bitcoins from customers :)
More...
You didn't answer my questions. Why didn't you? I think it's because you know you can't answer them without sounding like your parents were related.

There's a distinction between an exchange being hacked by external forces, and an internal fraud that needs no hacking. You would realize that if your mother and father weren't related.
 
LOL, another ET retard :)

they can be hacked externally or internally, doesn't change the end results, the BTC are gone and the customers left with nothing

how more retarded do you need to be to miss that? :)
 
Butterfly said:
LOL, another ET retard :)

they can be hacked externally or internally, doesn't change the end results, the BTC are gone and the customers left with nothing

how more retarded do you need to be to miss that? :)
More...

Hold on, you couldn't answer my questions and I'm the retarded one?

How do you hack internally? I think you would just withdraw the funds if you had access to them right? Where's the hack?

Perhaps you should take some English as a Second Language classes after you buy some dog food for your mother?:rolleyes::rolleyes::rolleyes::rolleyes::rolleyes: #WoofWoof
 
it has not been priced in. Majority of people do not even know it
More...

Ummm, so in other words, YOU have been living under a rock for many months. The Tether fraud has been broadcast all over media if you were to google it.

And the majority of people buying into Bitcoin these days don't even know how the hell bitcoin even works, but they heard about it going to the moon on TV, so they want to get some while it's hot. Which generally is an utterly stupid reason for buying ANY investment... So with someone that stupid, of course, they don't know about Tether fraud... they don't even know WTF a stablecoin even is.
 
You must log in or register to reply here.
Back
Top