If You Buy Bitcoin, You’ll Get Screwed

Bitcoin is incredibly risky, despite the image that’s being conveyed by the media, or spread through social networks. Bitcoin’s price is manipulated to an extreme degree, to lure retail investors into buying worthless tokens with real money. We are witnessing yet another wealth transfer from people who don’t know, to insiders and scammers. The huge […]

Bitcoin’s Overnight Collapse Probability is About 50%

If you ever had a look at CME’s Bitcoin futures, you might have noticed that there are multiple contracts - one for each month, and that they have different prices. Systematically, the futures contracts for months that are further away, are more expensive than those with closer expiration, and also cheaper than spot. When this […]

USDT’s Endgame and Life After Tether

Tether’s days are counted - whether by natural implosion, or as a result of regulatory action, the stablecoin funding a wide array of offshore crypto activity will go the way of the dodo. As is customary in the world of crypto, retail holders will pick up the tab. Offshore traders and DeFi yield farmers will […]

USDT Is Just A Fancy Venezuelan Bolivar

We already had one instance of Bitcoin being artificially manipulated upwards, in 2013, and most people who bought in got screwed. At the time, the fraud was happening on MtGox, an exchange that was processing over half of all trading volume, and was in a position to manipulate the market. Today, over 70% of Bitcoin […]

Tesla Spends $1.5B of Taxpayer-Funded Environmental Credits to Burn Coal in China

Tesla’s move to allocate a $1.5 Billion chunk of its cash hoard to Bitcoin, two days ago, was applauded by Bitcoin investors as a sure-proof sign that corporations are going to go all-in in Bitcoin, elevate its price to new all-time-highs, and allow early investors to cash out for real money. But Tesla’s investment in […]

The Great Tether / Bitcoin Collateral Flippening

In March 2020, unregulated crypto exchanges, led by Binance, switched to USDT as collateral for margin trading. This has led to a progressive release of around 1 million Bitcoins previously locked as collateral. The fact these newly available Bitcoins didn’t crash the price only makes sense if Tether scooped them up and is now holding […]

The “Bitcoin Economy” is Just an Illegal Casino Run by the Mob

Since crypto’s near-death experience of March 2020, three things have risen in tandem: the price of Bitcoin, the market cap of Tether, and the number of people under lockdown at home, turning to day-trading as a way to kill time. These three trends are closely intertwined.