A Fun Conspirology Mess for LongReaders: Tether, All the Cryptoexchanges and Cunning Barry Silbert

in bitcoin •  7 years ago  (edited)

I've been following CryptoMedication blog for some time. Here and there it offers interesting hints and bites of information, sometimes obvious, sometimes ground-breaking.

If you have about 30-40 minutes or so of spare time, have a look at the investigation on the crypto complot CM has discovered.

It is way too long to be summarized in several bullet points. I just want to list the main accusations:

  1. Some people in crypto are working for two or more institutions simultaneously. The worst of them combine Tether and Bitfinex
  2. Tether is not really USD backed (no surprise here). "Tether is bogus, undeniably" CM states.
  3. Tether is used to milk Bitcoins from naive investors and to stuff them with altcoins instead
  4. Poland and other front tier jurisdictions were the only ones allowing fiat-crypto switches (not news to me, there are Azerbaijan, many islands) — but slash this activity from time to time...
  5. ...and Bittrex lost $0.5bn in Poland. Pity.
  6. Cryptoexchanges are using shell companies!!! Bad, bad exchanges...
  7. Panama is a home to many nominals and shells!!! Bad, bad Panama...
  8. If there is a logo on some web-site — that means all possible ties between the two structures.
  9. Barry Silbert has invested in too many blockchain start-ups, and he's the real Master of the Puppets in all shady blockchain movements.

Nevertheless, I DO recommend on reading — at least to expand your horizons in the sector.

By the way, the title is misleading — there is effectively very little on Bitcoin and its story. But who knows of Poland villages? And would they look attractive in the title? :)

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    an interesting review about the CryptoMedication blog. thank you for the information. i will give it a try

    Good article

    always welcome))

    I never made it through the first half and will have to finish the saga tomorrow. What really gets me is that the crypto world is so competitive and rival, I'd say. Different groups are fighting like there is not tomorrow. Meanwhile, there is sufficient amount of resources for all projects to develop, and more will be flowing in from the fiat world.

    Hello, I am very impressed by the image you use in your article, please illustrate me to know the relationship of the article with the image used, the truth I can not see a relationship, best regards

    You are right, there is no direct connection. The picture is somewhat allegoric -- illustrates a gathering of free massons, with a new member initiation. Massons are most commonly used as an example of global complot, that is why I chose them for this post as well.