Mind blowing…
@ttmygh
I’m left wondering if part of this ponzi might be that Tether could ‘buy’ commercial paper from an company and simultaneously ‘sell’ then the same amount in Tether’s ‘sable coin’. This could explain the $1bln issuance jumps. License to print money.
@ttmygh
I’m left wondering if part of this ponzi might be that Tether could ‘buy’ commercial paper from an company and simultaneously ‘sell’ then the same amount in Tether’s ‘sable coin’. This could explain the $1bln issuance jumps. License to print money.
https://twitter.com/ttmygh/status/1414273393147396099
I’m now sucked down into the crypto hole… more certain than ever this things gonna blow up huge. Blockchain is real. And I’m all for stablecoins. Especially interested in commodity backed coins. But it regulations are the key.
I looked into trying to make a #uranium coin. But it’s frankly illegal to do this. I could easily made a new ‘Uranium Coin’ U308 Coin. Create a company like Tether. Issue ‘1 lb coins’ = 1lb of uranium. Store the uranium in a legal storage facility. It would be 100% backed.
But it’s illegal to do this because I would then be selling commodities on my own unregulated exchange contrary to the CFTC rules, SEC etc. Would be a great product and I’d be happy to make it but it’s not legally doable as I see it.
The future for block chain is great but I expect companies like Tether to be required to be regulated. I’m thinking we could be at the start of a ‘run on the bank’ here. We may soon find out how much actual backing Tether has… and how liquid those holdings are.
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