This is so much deeper than FTX. Tether is what is called stablecoin. Ostensibly there is one Tether coin created for each USD invested in the company. Tether is used as the basis of the entire crypto world. It keeps the wheels greased.
You now who loves tether? Isis and the drug cartels.
But its even deeper than that.
For this reason, crypto experts tell Revolver that “true-believers” in crypto often turn a blind eye to the dark and damning questions surrounding Tether due to the implications this would have on the entire crypto project.
One crypto veteran we spoke to described the Tether situation in rather vivid terms.
“I have a soft spot for thinking kindly of crypto-libertarians, but they all go Ponzi Mindset when it comes to Tether,” he said. “In order to be congruent and confident in the future they need to believe Tether isn’t a burning bag of shit overlayed on top of a flaming diarrhetic volcano. Everything that in retrospect looks super shady and how-did-they-get-away-with-it-for-so-long for FTX is WNBA-tier compared to the 1994-Olympics Dream Team of Schemes that is Tether.”>
Ive always been suspicious of crypto. How is something with no inherent value created out of thin air? Miners? Pfft, when there is no oversight, criminality is the order of the day. I think crypto is a cabal financing and laundering op and a way to get people accustomed to digital currencies and it looks like it is being proven to be one. Im not a big finance guy but if I had money in crypto Id take it out. The entire thing is a ponzi scheme about to collapse.
Worst case? If crypto even survives people will be buying bitcoin for pennies on a thousand.
Seems obvious to me that when the Bible says there will be a one world government and currency (by way of describing Satan’s operations in the last days: https://www.gotquestions.org/one-world-government.html), economic collapse and furthering the agenda of the cabal is the only pathway to accomplishing it. It is not a question of if it will happen, but when. Christians and patriots here in our current times do not want to witness it and live in it, so we hold onto hope that God will allow Trump and his team to establish a time of temporary reprieve from what is coming.
The phrase, “nothing can stop what is coming,” swings both ways. While we have no 100% assurance of our plans unfolding the way we design, we hold onto hope and pray that it happens. On the other hand, war/one world government/currency/etc. are guaranteed. In that sense we also say, “nothing can stop what is coming.” In the Biblical sense, God is the author of the concept of nothing stopping what is coming. Only God can create, design, reveal, and then bring it to fruition with perfection.
Everyone is welcome to express disagreement, agreement, hostility etc. about this comment and what it means, but in the end “God wins.” This phrase that we so often use is placed inside the context of our own desires, plans, prayers for what we want and what “seems to be the case” with all the deltas/drops/comms etc… but what comes along with the phrase “God wins” is a very thing God says in Revelation, whether we agree with it, or understand it, or not.
Trump says our brightest days lie ahead of us, and that might very well be true (if God should allow it to happen), but the darkest days (far beyond what we perceive and define as the ‘precipice’) also lie ahead of us. The precipice will not compare to what is to come. The reason for saying this is, if the precipice is somehow made to fit into the time of Tribulation, for instance (which I have not heard anyone say, but it’s worth considering), then the best days to come are when and if Christ establishes a literal earthly kingdom (the millennial kingdom), which in itself is always subject to interpretation and debate.
Your argument and comment are responding to the wrong comment. The quote you cited belongs to another user and not myself. I’m unable to really respond to your comment because I did not reply to the nature and the essence of thin air vs tangible substance money. You should copy and paste your comment/reply to the original poster, not myself. Simple mistake, no harm, all is forgiven.
One day tether will fall. Won't take away the use case for crypto though. But it'll sure hurt to see the cryptos plummet. Then they'll inch back. I wish they'd just get it over with.
Tether is used as the basis of the entire crypto world.
This is completely incorrect. Tether is a single cryptocurrency that is completely disconnected from all of the other ones outside of sharing similar algorithms. Neither Ethereum or Bitcoin, the two largest cryptocurrencies, have anything to do with Tether.
I try to understand the Tether scam, yet, but if I remember correctly: they created Tethers out of thin air, and for 1 Tether being 1 USD, they made money out of nothing, which they used to buy Bitcoin, which drove the price of Bitcoin way up.
It's not directly related, but if these transactions become invalid, because they were based on fraud, what will happen to Bitcoin?
… BitcoinTransfer is also at the heart of a network providing money to terror groups. In August 2020, the US Department of Justice revealed BitcoinTransfer had acted as a central hub in six terror-funding operations and called for the forfeiture of 155 cryptocurrency addresses linked to the exchange. Other research has also pointed to BitcoinTransfer’s jihadist connections.
BitcoinTransfer itself has processed 36 bitcoin – just over $2 million based on current prices – in 679 transfers since December 2018, according to Chainalysis, a blockchain analytics firm that assisted the US indictment reported last year. Maddie Kennedy, a spokesperson for Chainalysis, says the company has not detected any further funds being sent to addresses associated with BitcoinTransfer since the August indictment. But, in the same period, BitcoinTransfer has ramped up its operations and opened new branches in Idlib while also moving from bitcoin to a stablecoin called USD-Tether. Tether is a cryptocurrency pegged to the price of the US dollar and has the highest volume of any cryptocurrency in circulation.
The big players pretty much know to short every single coin, when the price-over-time graph reaches a certain arch. They all go to zero, eventually. You start shorting at the all-time-high, and will ALWAYS come out ahead. Always. Bitcoin being the exception, because it's the grandaddy of it all, and needs to maintain an air of legitimacy for the whole thing to keep working. But all shitcoins follow a pump-and-dump arch that is easy to spot if you're not a normie.
Not only is there no inherent value to crypto, but it’s difficult to transact in. Being tied into an unknown digital system with no hard assets is the last thing I’d want in an economic (and possibly societal) crash... which is coming.
Also, the Earth uses the equivalent power that Norway does every day to mine bitcoin. Does anyone know what all this computational horsepower is doing? It feels like we’re collectively hosting a bunch of black op Calculations and research.
Let me explain this "no inherent value" idea as it applies to crypto. First of all "Bitcoin" and "crypto" are different things. You can talk all day about most cryptos (not all) being conjured out of thin air, and they are. But Bitcoin actually requires work to be put in by someone for it to keep running, and has a limited supply of 21 million coins. No one has complete authority over the network, therefore no one can change the supply cap or inflation parameters, or produce new coins arbitrarily. We know exactly how many bitcoins exist now, and at any particular time, past, present, or future. The rate of coin issuance is preprogrammed and deflationary over the long run. It is impossible to forge, edit, reverse, or delete transactions. It is impossible for anyone to freeze or seize another person's wallet (not considering social engineering).
Why would a central bank invent something like Bitcoin? They wouldn't. If the whole world ran on Bitcoin, there could be no Fed. It destroys all of their scams. But something happened in 2017 and the years leading up to it. The Bitcoin community was infiltrated and the industry captured by scam artists led by people promoting other coins which lacked the robust fundamentals of Bitcoin. They told people it was all about getting rich and driving Lambos. This is what led to the rise of "shitcoins" and the centralized exchanges that facilitate them.
On the point about energy consumption, there has been some discussion about using the computational power of the Bitcoin miners to act as a sort of public cloud supercomputer. Bitcoin can already do this, but the feature was disabled years ago (along with many other things), presumably due to the fact that the Bitcoin core developers were pressured by external forces who favor the status quo and do not want Bitcoin to succeed.
The fact that bitcoin is limited to 21M and took effort to build out is irrelevant to the fact that it has no inherent value. It’s not a slight against bitcoin, it’s the reality. The same applies to the USD and the shitcoins.
Secondly, I don’t think the Fed created it, and while bitcoin could help destroy the Fed, there are other resources better suited to doing that in my opinion.
This is so much deeper than FTX. Tether is what is called stablecoin. Ostensibly there is one Tether coin created for each USD invested in the company. Tether is used as the basis of the entire crypto world. It keeps the wheels greased.
You now who loves tether? Isis and the drug cartels.
But its even deeper than that.
Revolver does a deep dive:
https://www.revolver.news/2022/11/sam-bankman-fried-ftx-on-steroids-is-cryptocurrency-tether-joe-biden-crypto-bcci/
Ive always been suspicious of crypto. How is something with no inherent value created out of thin air? Miners? Pfft, when there is no oversight, criminality is the order of the day. I think crypto is a cabal financing and laundering op and a way to get people accustomed to digital currencies and it looks like it is being proven to be one. Im not a big finance guy but if I had money in crypto Id take it out. The entire thing is a ponzi scheme about to collapse.
Worst case? If crypto even survives people will be buying bitcoin for pennies on a thousand.
Seems obvious to me that when the Bible says there will be a one world government and currency (by way of describing Satan’s operations in the last days: https://www.gotquestions.org/one-world-government.html), economic collapse and furthering the agenda of the cabal is the only pathway to accomplishing it. It is not a question of if it will happen, but when. Christians and patriots here in our current times do not want to witness it and live in it, so we hold onto hope that God will allow Trump and his team to establish a time of temporary reprieve from what is coming.
The phrase, “nothing can stop what is coming,” swings both ways. While we have no 100% assurance of our plans unfolding the way we design, we hold onto hope and pray that it happens. On the other hand, war/one world government/currency/etc. are guaranteed. In that sense we also say, “nothing can stop what is coming.” In the Biblical sense, God is the author of the concept of nothing stopping what is coming. Only God can create, design, reveal, and then bring it to fruition with perfection.
Everyone is welcome to express disagreement, agreement, hostility etc. about this comment and what it means, but in the end “God wins.” This phrase that we so often use is placed inside the context of our own desires, plans, prayers for what we want and what “seems to be the case” with all the deltas/drops/comms etc… but what comes along with the phrase “God wins” is a very thing God says in Revelation, whether we agree with it, or understand it, or not.
Trump says our brightest days lie ahead of us, and that might very well be true (if God should allow it to happen), but the darkest days (far beyond what we perceive and define as the ‘precipice’) also lie ahead of us. The precipice will not compare to what is to come. The reason for saying this is, if the precipice is somehow made to fit into the time of Tribulation, for instance (which I have not heard anyone say, but it’s worth considering), then the best days to come are when and if Christ establishes a literal earthly kingdom (the millennial kingdom), which in itself is always subject to interpretation and debate.
This has been the goal since the Tower.
lol if you don't know the diff between shitcoins (including fiat) and bitcoin, then you are not very qualified to chime in on the issues.
Your argument and comment are responding to the wrong comment. The quote you cited belongs to another user and not myself. I’m unable to really respond to your comment because I did not reply to the nature and the essence of thin air vs tangible substance money. You should copy and paste your comment/reply to the original poster, not myself. Simple mistake, no harm, all is forgiven.
One day tether will fall. Won't take away the use case for crypto though. But it'll sure hurt to see the cryptos plummet. Then they'll inch back. I wish they'd just get it over with.
99% of crypto projects will die. The projects the hold true utility will moon. All the $ will flow in once clarity truly established.
This is completely incorrect. Tether is a single cryptocurrency that is completely disconnected from all of the other ones outside of sharing similar algorithms. Neither Ethereum or Bitcoin, the two largest cryptocurrencies, have anything to do with Tether.
I try to understand the Tether scam, yet, but if I remember correctly: they created Tethers out of thin air, and for 1 Tether being 1 USD, they made money out of nothing, which they used to buy Bitcoin, which drove the price of Bitcoin way up.
It's not directly related, but if these transactions become invalid, because they were based on fraud, what will happen to Bitcoin?
Didnt read the Revolver article, did ya?
I did read it, and it's wrong. Cryptocurrency exchanges existed way before tether, and will exist long after it's gone.
How do baseball cards and Pokémon cards hold value?
Another quote from the Revolver article:
Real journalism is alive at Revolver! Excellent reporting. Thank you.
The big players pretty much know to short every single coin, when the price-over-time graph reaches a certain arch. They all go to zero, eventually. You start shorting at the all-time-high, and will ALWAYS come out ahead. Always. Bitcoin being the exception, because it's the grandaddy of it all, and needs to maintain an air of legitimacy for the whole thing to keep working. But all shitcoins follow a pump-and-dump arch that is easy to spot if you're not a normie.
XLM and XRP are the stable coins in their mind. Not USDT.
Not only is there no inherent value to crypto, but it’s difficult to transact in. Being tied into an unknown digital system with no hard assets is the last thing I’d want in an economic (and possibly societal) crash... which is coming.
Also, the Earth uses the equivalent power that Norway does every day to mine bitcoin. Does anyone know what all this computational horsepower is doing? It feels like we’re collectively hosting a bunch of black op Calculations and research.
Let me explain this "no inherent value" idea as it applies to crypto. First of all "Bitcoin" and "crypto" are different things. You can talk all day about most cryptos (not all) being conjured out of thin air, and they are. But Bitcoin actually requires work to be put in by someone for it to keep running, and has a limited supply of 21 million coins. No one has complete authority over the network, therefore no one can change the supply cap or inflation parameters, or produce new coins arbitrarily. We know exactly how many bitcoins exist now, and at any particular time, past, present, or future. The rate of coin issuance is preprogrammed and deflationary over the long run. It is impossible to forge, edit, reverse, or delete transactions. It is impossible for anyone to freeze or seize another person's wallet (not considering social engineering).
Why would a central bank invent something like Bitcoin? They wouldn't. If the whole world ran on Bitcoin, there could be no Fed. It destroys all of their scams. But something happened in 2017 and the years leading up to it. The Bitcoin community was infiltrated and the industry captured by scam artists led by people promoting other coins which lacked the robust fundamentals of Bitcoin. They told people it was all about getting rich and driving Lambos. This is what led to the rise of "shitcoins" and the centralized exchanges that facilitate them.
On the point about energy consumption, there has been some discussion about using the computational power of the Bitcoin miners to act as a sort of public cloud supercomputer. Bitcoin can already do this, but the feature was disabled years ago (along with many other things), presumably due to the fact that the Bitcoin core developers were pressured by external forces who favor the status quo and do not want Bitcoin to succeed.
The fact that bitcoin is limited to 21M and took effort to build out is irrelevant to the fact that it has no inherent value. It’s not a slight against bitcoin, it’s the reality. The same applies to the USD and the shitcoins.
Secondly, I don’t think the Fed created it, and while bitcoin could help destroy the Fed, there are other resources better suited to doing that in my opinion.