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naraburns  nihil supernum  1yr ago (text post)   29330 thread views

Culture War Roundup for the week of December 12, 2022

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For some reason that link isn't working for me, it just keeps refreshing the page every 3 seconds so I can't read it. I guess it rather backs up webarchive begging for funds.

I know Scott also posted a link to a convincing sounding anti-Tether essay too. But consider how much misinformation there is in the crypto-sphere, by nature of rumors moving markets very quickly. There are a lot of people who'd be happy to see Tether fail, since they can make a lot of money shorting it at the right time. It's difficult to profit from a stablecoin staying stable.

I haven't/can't actually read the medium article. But don't you think that if he got banned, then something might be suss about it? I'd imagine Medium has some kind of rule against impersonation or propagandizing. If Tether isn't backed, how come people have been able to take about 20 billion out of it? The marketcap has fallen a lot since May 2022, that means coins are being removed from circulation by redemption back to USD.

https://coinmarketcap.com/currencies/tether/

Maybe someday it will collapse. But I've gotten so tired of the seemingly never-ending story of Tether going under. There were supposed to be revelations coming out years ago about this. People have been panicking about it for so long now.

It's entirely possibly he was bullshitting. I also couldn't load the article, so I just ctrl+c ctrl+v'd it into notepad and scrolled down to the text.

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