Great write-up as always from Patrick McKenzie. I used to read a lot more about all the questionable things that Bitfinex and Tether were up to, but I haven't paid as much attention for a year or...
Great write-up as always from Patrick McKenzie.
I used to read a lot more about all the questionable things that Bitfinex and Tether were up to, but I haven't paid as much attention for a year or so after Bitfinexed stopped publishing articles on Medium and got harassed so much that he made his Twitter account private. If anything, it seems like it's probably gotten even worse since that point with all the revelations in here related to Crypto Capital Corp.
One of the really strange aspects about cryptocurrency is that, like the article says, almost everyone that's using it is doing it for speculation purposes. Because of that, ignoring or even helping fraud keep going is actually in most of their interests, because it keeps the prices inflated. Tether's underpinning a lot of it now, and there's potential for a really massive crash if it ever comes fully unglued.
Great write-up as always from Patrick McKenzie.
I used to read a lot more about all the questionable things that Bitfinex and Tether were up to, but I haven't paid as much attention for a year or so after Bitfinexed stopped publishing articles on Medium and got harassed so much that he made his Twitter account private. If anything, it seems like it's probably gotten even worse since that point with all the revelations in here related to Crypto Capital Corp.
One of the really strange aspects about cryptocurrency is that, like the article says, almost everyone that's using it is doing it for speculation purposes. Because of that, ignoring or even helping fraud keep going is actually in most of their interests, because it keeps the prices inflated. Tether's underpinning a lot of it now, and there's potential for a really massive crash if it ever comes fully unglued.