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17 sats \ 6 replies \ @TomK OP 25 Feb 2023 \ parent \ on: WEF In Trouble? Attacks On JPMorgan Via Epstein Case bitcoin
You're right! Therefore the Fed brought down Scam Bankrun F..k and its big money laundering circus FTX. What a sh.tshow, guys!
Happy WE to all
I don't think they intended to bring them down, that was just the consequence of the various kinds of "reserve" fraud they were using to deceptively monetise their own tokens, combined with the widespread insolvency of shitcoin casinos, eventually reaching the biggest scam op in the space.
Still won't change the fact that Tether, Circle and others are now settling more than Visa and Mastercard (probably combined). Eurodollars have escaped from the box and it will be quite the clown show to watch them try to take it down. They have a dilemma: ethereum is the best platform for their CDBCs, and yet it is the platform of their entrenched, massive competitors. They would have to take a pretty big hit on the relative strength of the USD to take Tether out, since it has grown to a size that makes it pretty much indispensible.
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Can You imagine them using Eth... what an attack vector
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Well, it seems pretty clear they have been opening up this pathway, and that Vitalik and friends have been glad to cosy up to the plutocrat glee club with their ESG - oriented marketing campaign since the Murge. But like I point out, Tether and friends already have hitched some of their network to it. Most people don't even realise that USDT runs mainly on their platform.
In fact, this is probably now the main valuation base for ETH, as a transport for USDT and friends.
They may be our enemies but the small always have to beg to the larger for protection by making arrangements to act on their behalf. Bitcoin doesn't need this but the mother a$$hole of ponzi schemes needs it to consolidate its market position. And this makes for a delicious dilemma for the fiat system which has seen its "assets" pirated by well funded entrepreneurs seeing an obvious way to get into the eurodollar market at the same time as riding the rise of Bitcoin.
I don't think it's an attack on Bitcoin. Tether, alone, now vouchesafes BTC/USD pair on the market. Really, this is a "sly round-about way" to embed bitcoin into the global market, by guaranteeing rails that are largely used to monetise Bitcoin. They didn't need as stringent requirements as a full banking licence or FED membership to gain access to this capability nor will it be easy to take it away from them.
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Well, thank You a lot for Your insights. Interesting development. Today is my ATM day here in M. I will celebrate them freaks with some anon bought Sats and have some San Miguel... cheers to You and thanks again
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M? As in the island?
Also, cheers! raises stella in celebration...
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Málaga, Spain. Lovely place
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