Tweet

Trolly🐴 McTrollface 🌷🥀💩

24 May, 8 tweets, 3 min read

I received an email from my hosting service this morning, warning me I had committed some kind of copyright infringement on my blog.
Turns out it was my post "A day in the life of Stuart Hoegner, General Counsel for Tether". Actual complaint attached.
A few thoughts...

1. I'm thrilled someone from Tether (fingers crossed, Stu himself) took the time to read my piece, run a whois on the domain, go through the trouble to find how to file a complaint, etc.
2. It's amazing the time and resources Tether spends on hunting down and harassing critics.

3. The complaint has been filed over the weekend. I guess that plays in favour of their "weekend wires" story - the Tether team really do work (???) 24/7.
4. I will take the piece down, even though it's obviously satire, but I don't have time to play with this. I'm not Tether.

5. I'm really proud of my piece, whose title is a reference to the book "One Day in the Life of Ivan Denisovich", by Aleksandr Solzhenitsyn, a vocal critic of the USSR who did 8 years in a Siberian Gulag for having the audacity of writing stuff.
tr0lly.com/tether/a-day-i…

6. Tether, what the actual f*ck? Do you really feel threatened by this? Can't we even fight you with satire? Is your goal in life is to spend your days hunting down anon Twitter accounts, and lurk on fringe blogs just in case someone posts something that hurts your fragile ego?

7. I think we live in meme world where the most efficient way to fight evil is to make fun of it in a way that makes it lose its credibility. Look up "How Is the Ku Klux Klan Like a Group of Real-Estate Agents?", the story of a man who made fun on the KKK, and hurt them BIG time.

@tetherino

The most efficient way to expose Tether, is not by analysing the forex reserves of the Bahamas or NYAG's filings. It's to make people realise how stupid they look, by using their own tools. That's why I'm throwing my full support to @tetherino. My hope is that #tetherinos get...

enough traction for their token that's sometimes backed by commercial toilet paper, that their project and "white paper" will end up being picked up by real news outlets and dissected by comparing it to, obviously, Tether itself. Fire with fire, live die by the sword, you got it.

• • •

Missing some Tweet in this thread? You can try to force a refresh

This Thread may be Removed Anytime!

Twitter may remove this content at anytime! Save it as PDF for later use!

More from @Tr0llyTr0llFace

Trolly🐴 McTrollface 🌷🥀💩

@Tr0llyTr0llFace

21 May

Cute how the crypto community tries to spin that exchange shutdowns are the equivalent of circuit breakers in real markets.
How come USDT exchanges didn't need to shut down? USD markets were overheating, but USDT markets weren't? How can you have bids in USDT but not in USD?

Real cash exchanges are indeed circuit breakers, but not for when markets overheat - it's when people try to cash out for real money. That's when the stablecoin/exchange cartel can no longer manipulate prices. The liquidity pool of USD, unlike that of USDT, is very shallow.

As long as traders trust stablecoins are legit, the cartel can pump prices up by printing USDT out of thin air, sending it to exchanges, and buying up everything on offer. Arbitrageurs on real money exchanges see Bitcoin go up against USDT, and rush to buy it against USD as well.

Read 8 tweets

Trolly🐴 McTrollface 🌷🥀💩

@Tr0llyTr0llFace

19 May

In retrospect, Bitcoin's collapse was inevitable.
tr0lly.com/bitcoin/bitcoi…

Something whose sole purpose is to burn tens of millions of dollars per day is doomed to fail.
tr0lly.com/bitcoin/buy-bi…

And now this is what's in play.
tr0lly.com/bitcoin/usdts-…

Read 4 tweets

Trolly🐴 McTrollface 🌷🥀💩

@Tr0llyTr0llFace

13 May

Note about Tether's reserves from someone who knows this shit.
It could all be legit. There's no way knowing, because we don't know who the issuer of the commercial paper they're holding is. If it's IBM, that's as good as cash. If it's Binance, lol. Same goes for corporate bonds.

Same goes for "secures loans". Who is the recipient of these loans, and what are they secured by? If these are loans to FTX secured by crypto, again, lol.
Fiduciary deposits should in theory be legit, although it's weird; I guess it's it's a consequence of offshore banking.

One big issue that puts a big question mark on everything is what accounting policies were used? Stu mentions "our accounting policies" but there's no such thing. Either you're using standards like IFRS, or you're making stuff up.
And finally, what's the total value of the pie???

Read 4 tweets

Trolly🐴 McTrollface 🌷🥀💩

@Tr0llyTr0llFace

10 May

Monaco owes its VIP status to one man. Not Prince Charles III who built the casino, or Prince Rainier III who brought Hollywood fame by marrying Grace Kelly, or Prince Albert II.
Monaco owes it all to Camille Blanc, the casino operator who made the Monte Carlo casino profitable.

Before Camille accepted the job, the casino of Monte Carlo was a joke. Days would go by without a single gambler coming in. It was a money pit.
Camille changed it all. He only accepted the job after Monaco agreed to pay him 90% of the casino's profits. NINETY F***ING PERCENT.

Still, once Camille did his magic, the remaining 10% was such a bonanza that it was enough for the monégasque government to stop collecting taxes from its citizens - a status Monaco still enjoys today.
How did Camille turn a nameless casino lost in the Alps into such a wonder?

Read 7 tweets

Trolly🐴 McTrollface 🌷🥀💩

@Tr0llyTr0llFace

8 May

💵 💵 💵 💵 💵 💵 💵 💵 💵 💵 2,000,000,000 #Trollybucks (2,000,000,000 USD) minted at Trolly Treasury

@basedkarbon

🚨 🚨 🚨 🚨 🚨1,000,000,000 #Trollybucks transferred from Trolly Treasury to @basedkarbon Paid Group wallet

@diaryrektman

🚨 🚨 🚨 🚨 🚨1,000,000,000 #Trollybucks transferred from Trolly Treasury to @diaryrektman Degenerate Gambling wallet

Read 4 tweets

Trolly🐴 McTrollface 🌷🥀💩

@Tr0llyTr0llFace

2 May

I know Tether and Bitcoin are hard to understand for people who haven't spent 10 years looking at fraud in the face. Here's a more down-to-earth explanation.
Imagine Bitcoin is houses in the desert. The promoter advertised the spot as the New New York, where all the hedge funds

and the banks and the really important people will want to be. A lot of people bought in, but the vision never became real - hedge funds and banks stayed in New York. Nonetheless, the price of the houses rose for some reason.
As the price rose, more people bought in, ignoring the

fact that the promoter's vision didn't materialise. Surely there are other reasons for why the price is going up, other very important corporations who will want to set camp there.
Seeing prices go up, the promoter built more houses. People snapped them up as well.

Read 15 tweets

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!