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Gazpacho posted:the vanguard federal money fund has 0.000003.5% cash holdings (out of 64.7% liquid holdings) so harping about the 4% is just clickbait that is wildly misrepresenting the difference between the two... the fact that tether is calling unspecified commercial paper and fiduciary deposits "cash equivalent" is farcical. yes, people should be saying that tether is backed by about 7% cash or cash equivalent, but frankly that doesn't make a marked difference in the overall assessment of that giant pile of trash.
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May 15, 2021 00:58
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Gazpacho posted:the vanguard federal money fund has 0.000003.5% cash holdings (out of 64.7% liquid holdings) so harping about the 4% is just clickbait Stuff that's collateralized solely by U.S. government securities is a pretty far distance from what makes up Tether's portfolio. Castor's analysis even said that the treasury bills that Tether owned was the one other asset that was actually considered as good as cash. But they don't own much of either.
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May 15, 2021 01:12
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divabot posted:but he's probably failing his comp sci degree watching candles on price charts. nah actually i just stick like £25 into some shitcoin and then completely forget about it for months on end i pay less than the bare minimum amount of attention also: lol he mad
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May 15, 2021 01:53
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my point is that the quality of the  investments is a bigger issue than the size of the cash positionit does create an awkward situation though for crypto-boosters who pray five times a day while facing the von Mises Institute
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May 15, 2021 02:17
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Billy seems like a nice guy and has always seemed shocked and somewhat horrified that Doge blew up so big when he intended it as a joke https://twitter.com/BillyM2k/status/1392952014854778883?s=20
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May 15, 2021 02:22
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yeah tbh imagine making a cryptocurrency that is blatantly a parody meant to take the piss and then suddenly its rivalling bitcoin in popularity
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May 15, 2021 02:38
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Tether is just reinventing fiat currency, only backed by a shady bank in the Bahamas and a pile of IOUs rather than a country with a tax base and military assets.
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May 15, 2021 04:10
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why does matt gaetz look like a fat evil johnny knoxville
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May 15, 2021 05:29
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the last signal... posted:why does matt gaetz look like a fat evil johnny knoxville I thought he looks like those evil ventriloquist dummies from toy story 4 but I see the knoxville resemblance too
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May 15, 2021 05:52
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I'm Anorak the Dumb 
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May 15, 2021 09:56
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I've hidden a code for a $25 Steam gift card in one of my posts. E: I intend to hide it
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May 15, 2021 11:12
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the last signal... posted:why does matt gaetz look like a fat evil johnny knoxville That's who he reminds me of. I was trying to figure it out.
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May 15, 2021 11:49
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Paladinus posted:I've hidden a code for a $25 Steam gift card in one of my posts. I made a NFT that says I own that post. I'm going to give it to Elon Musk as a birthday present.
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May 15, 2021 12:04
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buttcoin
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May 15, 2021 12:33
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hdc posts buttcoin more regularly than a block gets confirmed with no fee
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May 15, 2021 13:07
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the last signal... posted:why does matt gaetz look like a fat evil johnny knoxville I keep saying Beavis with dark hair, but yours is better.
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May 15, 2021 14:06
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Is Dogecoin mined somehow?
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May 15, 2021 18:01
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Collateral posted:Is Dogecoin mined somehow? Well, it's cryptocurrency, so minors are probably involved somewhere.
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May 15, 2021 18:16
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Doge blocks are mined every minute. It was a joke taking the absurdity of crypto to the extreme. At today's prices $6.9 million worth of dogecoin are mined daily
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May 15, 2021 18:17
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I only know this because my wife told me her friend invested $500 into doge last night and she asked me what I thought about it and I got really irationally upset. She also has a co-worker with a husband who claims to have made a lot investing in GME.
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May 15, 2021 18:20
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Hard to argue with thisquote:It isn't a zero sum game. If guy 1 buys for $1, sells to guy 2 for $2, who sells to guy 3 for $5, who sells to guy 4 for $8 and so on then literally every single person has made money.
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May 15, 2021 19:03
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crypto works the same way
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May 15, 2021 19:10
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Andy Dufresne posted:I only know this because my wife told me her friend invested $500 into doge last night and she asked me what I thought about it and I got really irationally upset. She also has a co-worker with a husband who claims to have made a lot investing in GME. I mean the people that bought beanie babies after the craze hit its peak definitely made the most money.
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May 15, 2021 19:25
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InternetJunky posted:Hard to argue with this Oh poo poo, now I am a Bitcoin person because you simply cannot lose money
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May 15, 2021 19:52
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Hammerite posted:That's who he reminds me of. I was trying to figure it out. it's robbie rotten
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May 15, 2021 20:01
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mojo1701a posted:Well, it's cryptocurrency, so minors are probably involved somewhere. he’s not wrong you know
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May 15, 2021 20:26
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https://mobile.twitter.com/saifedean/status/1393480807390535681
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May 15, 2021 22:57
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rly makes u think Seriously though, how in the actual gently caress can people unironically post poo poo like this The internet was a loving mistake
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May 15, 2021 22:59
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That twitter thread regurgitates all the same idiotic talking points like how it replace all of finance, when it's the world's least efficient payment system, including loving rai stones.
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May 15, 2021 23:02
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I feel dumber for having that read that.
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May 15, 2021 23:11
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Bitcoin: War or environmental ruin. You decide.
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May 15, 2021 23:12
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I used to go to war with Tesco when they cocked up my change, but now, thanks to Bitcoin, I can't buy anything at Tesco with Bitcoin.
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May 15, 2021 23:15
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No such thing as a free lunch anyone?
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May 15, 2021 23:25
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xtal posted:No such thing as a free lunch anyone? Your mum offers a free lunch.
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May 15, 2021 23:27
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jokes posted:Bitcoin: War or environmental ruin. You decide.
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May 16, 2021 00:52
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Paladinus posted:Your mum offers a free lunch. All you can eat And you don’t have to wait 17 hours unlike buttecoin
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May 16, 2021 00:55
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Andy Dufresne posted:Doge blocks are mined every minute. It was a joke taking the absurdity of crypto to the extreme. At today's prices $6.9 million worth of dogecoin are mined daily Yep, it's intentionally not only inflationary, but hyperinflationary with the goal of having no way of having value. But the coiners built a better idiot.
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May 16, 2021 01:01
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EorayMel posted:Quick throw pennies at the attackers! I don’t throw penny shavings until I’m chasing the Bearwhale on top of a train.
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May 16, 2021 01:50
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tehinternet posted:rly makes u think I follow a lot of finance types on Twitter and generally speaking it's pretty sane but stuff leaks through so I see something like this about once a day and I honestly feel the same way. It's the same as reading Q anon stuff, as far as I'm concerned. I'm very fortunate that I don't know anyone close to me who has laser eyes. One of my friends is a lifelong computer guy and he's really into Ethereum like as a platform and I honestly see where he's coming from. But by the end of the conversation he generally agrees with me that it's unecessary, it's just that it's probably the coolest of these new and useless hammers that have been made.
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May 16, 2021 13:28
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Ethereum is unique in that it has potential to be massively useful. Programable smart contracts can do all sorts of cool functions. Just it being decentralized is holding it back as far as being usable. The mechanics that keep it decentralized also keep it running slow and having a high fee to use. Smart contracts are awesome though. That said, you don't need to use the main Ethereum network to utilize the technology behind it. Anyone can spin up a private network and use the tech however they need.
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May 16, 2021 17:42
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