— Patrick McKenzie (@patio11) March 14, 2019. As McKenzie explains, the company has always pretended that every tether was 1:1 backed by a deposit in a bank account in USD. Individuals that owned Tether were sure that they had the equivalent amount of USD in a bank account. However, McKenzie says that the company abandoned this model and started backing their USDT with other digital assets ... patio11 on Jan 1, 2015. If you're familiar with the Willy Report (Google it), the simplest working theory is that someone figured out a way to award themselves USD/etc balances inside of the Mt. Gox system, purchased large amounts of Bitcoins with them, then transferred them out in the ordinary course of business. This caused positive improvements in the set of metrics that Gox and the ... @patio11, 3 tweets, 1 min read Bookmark Save as PDF My Authors. Add to 'My Authors' Read all threads. Apparently a Bitcoin exchange whose compliance strategy is Bond Villains Don’t Need A Compliance Strategy is saying they were not raided by the police but probably not in the same sense that you were not raided by the police. This is a snow clone of the famous line in this essay: breakermag ... The entire Bitcoin network, which is saturated, can only serve ~3 transactions per second worldwide. This means that an exodus from one exchange, in addition to spooking account holders at every other exchange, will make it pretty difficult to move BTC in or out of another exchange. Give Me Bitcoin . Mar 29, 2018 DTN Staff. twitter. pinterest. google plus. facebook. 25+ Answers - Someone I Don't Know Has Randomly Sent Me 18,500 Bitcoins. Is There A Way For Him To Chargeback? Should I Call The Cops? ...
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