Thread: Money Bitcoin Take?
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Old 01-23-2018, 07:42 PM   #1334
suzzer99 suzzer99 is offline
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Join Date: Jan 2010
Location: L.A.
Casino cash: $2604284
Is something called 'tether' being used to prop up bitcoin while sharps bail? https://tonyarcieri.com/the-tether-conundrum

Interesting read. It's hard for me to imagine that a) they really have $1.7B in hard cash reserves and b) that anyone would invest money in a blockchain vehicle whose value is tied to the USD, when they could just own USD. Smells very ponzi-ish, and that ponzi could be what's propping up BTC at $10-$11k.
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