Tether - Unaudited For 6 Years/Rejects Auditor Because...

[trade4succes]

I guess the printing and burning of USDT is to keep the exchange rate close to 1? Is that what the organization behind it does?

 

[Pekelo]

You cannot borrow Tether from the AAVE platform without providing a collateral, such Eth or another crypto of value that is greater than the amount of USDT you're borrowing

To quote from the Big Short, is it like a "credit default swap on square?" No, I think I got it, it is like "synthetic CDOs".

 

[johnarb]

And there lies the problem. It is all magical coins/projects backing each other. Interest is also paid in magical coins..

You're overthinking it, RedDuke

Cryptos financial systems are paid in cryptos

To you they are magic internet money, to us, they are valuable crypto digital assets

If Bitcoin and Ethereum and Tether goes to $0, won't matter to you or anyone who's not in cryptos

Guess what? Bitcoin is worth over $30K and we can use that value on anything we want on the real world. Other cryptos have a lot of worth as well

 

[themickey]

Respect cryptos, it's not a ponzi, look at the current financial system and see which is the real ponzi

That's reasoning sounds familiar to the way Republicans talk.

 

[johnarb]

To quote from the Big Short, is it like a "credit default swap on square?" No, I think I got it, it is like "synthetic CDOs".

See, I told you that you still wouldn't understand a simple explanation for a child

Pekelo, it's simple, don't compare AAVE platform lending/borrowing to CDO, CDS, MBS

That is a fucking lie and if you do not know it then I don't know what to tell you as far as your intelligence and comprehension

Over-collateralized loans on DeFi are not the same as leveraged derivatives of traditional finance that blow up the whole financial system and requires a bailout

 

[johnarb]

That's reasoning sounds familiar to the way Republicans talk.

Oh wow, you're not even in the US and you're trying to turn into politics? Come on man, no gaslighting, I have provided details here, you're just going to throw shit like that

Don't you have to deal with China fucking up your country Australia and your country too weak to fight back and bend over and take it up the arse?

 

[themickey]

Oh wow, you're not even in the US and you're trying to turn into politics? Come on man, no gaslighting, I have provided details here, you're just going to throw shit like that

Don't you have to deal with China fucking up your country Australia and your country too weak to fight back and bend over and take it up the arse?

Seeming you mentioned China....
Many bitcoin mines in Sichuan were shuttered Sunday after authorities in the southwestern Chinese province ordered a halt to crypto mining, according to a report from the Communist Party-backed newspaper Global Times. More than 90% of China’s bitcoin mining capacity is estimated to be shut down, the paper said.

 

[johnarb]

Seeming you mentioned China....
Many bitcoin mines in Sichuan were shuttered Sunday after authorities in the southwestern Chinese province ordered a halt to crypto mining, according to a report from the Communist Party-backed newspaper Global Times. More than 90% of China’s bitcoin mining capacity is estimated to be shut down, the paper said.

China crackdown on bitcoin and cryptos is real

No China ban fud, anymore

Honestly, we in cryptos prefer China mining to be diminished or taken out completely. It's good for decentralization

Long term this is very good for Bitcoin

https://www.bloomberg.com/news/arti...-100-for-money-laundering-in-crypto-crackdown

 

[themickey]

Were bitcoin to fall under 30,000 mark, that will create mayhem, that level needs very close watching.

 

[themickey]

...with China fucking up your country Australia and your country too weak to fight back

More bs talk, as mentioned, sounds like Republican method of arguing, twist stuff around.