nomadic research

[Buitengebieden @buitengebieden]

Living the best life.. 😅

[Nature is Amazing ☘️ @AMAZlNGNATURE]

A gibbon was seen grooming a deer looking for fleas in northeast Thailand.

[Nature is Amazing ☘️ @AMAZlNGNATURE]

American crocodile vs American alligator..

Fun fact, the Florida everglades is the only place on Earth where gators and crocs live together.

[Science girl @sciencegirl]

Real life Tom and Jerry

[Bindu Reddy @bindureddy]

All of the billions spent on AI innovation just so we can get these beautiful cat videos

[Nature is Amazing ☘️ @AMAZlNGNATURE]

A sloth trying to understand what that other creature is

[Buitengebieden @buitengebieden]

Living the best life.. 😅

[The Figen @TheFigen_]

Keanu Reeves is the most humble and charismatic actor in the world ...

He is number 1 among the actors!

[Science girl @sciencegirl]

Feeding a baby penguin

📹AI
https://t.co/8Wp7aWhBSf

[Nature is Amazing ☘️ @AMAZlNGNATURE]

If you're having a bad day, here's some goats eating their favorite food

[Nature is Amazing ☘️ @AMAZlNGNATURE]

Dog and piggy playing ball

[Arthur Kwon Lee @badazn]

Can we all agree that Keanu Reeves is the only good person in Hollywood?

[Nature is Amazing ☘️ @AMAZlNGNATURE]

A raccoon using a piece of wood to get out of a trash can

[Hakan Kapucu @1hakankapucu]

This donkey's behavior signifies that when people are kind to a being, the being shows them gratitude & admiration in return. So, this is the sweet line of gratitude these beings are asking for love.

📽️Victoria Schroeder

[Nature is Amazing ☘️ @AMAZlNGNATURE]

this is the cutest video ever

[stan1m1r @stan1m1r]

TETHER - AN EPIC PONZI SCHEME

Tether (USDT) is a stablecoin, which is a type of cryptocurrency that actively works to keep its valuation stable through market mechanisms.

Brock Pierce, Reeve Collins & Craig Sellars founded Tether in 2014. The project was originally called Realcoin, but they changed the name to Tether shortly after launch. The company behind Tether, Tether Limited, is responsible for issuing it & managing the reserves.

Bitfinex was the first major crypto exchange to offer Tether trading, which started in January 2015. Although Bitfinex and Tether Limited are separate entities, leaks from the Paradise Papers in 2017 revealed that Bitfinex officials set up Tether Limited.

1⃣ HOW DOES TETHER WORK
When a user tries to deposit fiat money and convert it to Tether coins, Tether Limited generates the corresponding amount of digital money that can consequently be sent, stored, or exchanged. In case when the user redeems the tokens for fiat money, the digital currency is destroyed from circulation, BUT Tether terms of service clearly state that they DO NOT ever have to offer redemptions of USDT for dollars (or even whatever IOUs and bits of string they may or may not have in reserve) !!!

🔴 Did you know: Tether can withstand a "run" because they do not have to pay you if you ask. In fact if you're a US person, you're not eligible at all. If you're not a US person, it's at their discretion to deem you a "customer." Even if they do that, they can delay your withdrawal arbitrarily. Even if they don't do that, they can pay you out with whatever is actually in their backing !!!

2⃣ LET'S GO DEEPER
A possible de-peg of USDT could create long-lasting implications on the price of assets like BTC, Ethereum, etc. Somehow exchanges integrated stable coins so much in their systems that a failure of one of them destroys the value of any other cryptocurrency. We watched this happening with the Terra USD (UST) stablecoin as the Terra Luna Ponzi collapsed

Tether mints new supply and lends to various entities during bullish market conditions that expect to profit from BTC price and pay back the Tether borrowed (with an additional interest). A model that could work as a lending service but lacks long-term viability since it is based on pure speculation instead of growth developments and infrastructure for the sector

Please Note !!!

🔴 Crafting any sort of Tether short is near impossible because everyone in the game - Tether, the exchanges, etc. - will all be against you if you're winning in the short (there's that scene in "The Big Short" where Mark Baum and crew know the subprime bonds are junk but they visit the ratings agency and they're not downgrading)

🔴 In April 2019, New York Attorney General Letitia James obtained a court order enjoining Tether and BitFinex parent iFinex from further violations of New York law. It had been determined that BitFinex had borrowed at least $700 million from Tether's reserves to offset BitFinex corporate and client funds frozen (and ultimately seized) from its Panamanian banking partner Crypto Capital Corp. in a money-laundering probe

🔴 In October 2021, the U.S. Commodity Futures Trading Commission (CFTC) announced that Tether agreed to pay a $41 million fine "over claims that Tether stablecoin was fully backed by U.S. dollars." In fact, "Tether held sufficient fiat reserves in its accounts to back USDT tether tokens in circulation for only 27.6% of the days in a 26-month sample time period from 2016 through 2018," according to CFTC. Bitfinex agreed to pay a $1.5 million fine to settle separate CFTC allegations as part of the settlement

3⃣ FUNDAMENTALS THAT TETHER LACKS

🔴 Tether is not a decentralized blockchain but runs on top of blockchains that some can be considered decentralized

🔴 Tether is a smart contract containing an option for the developer to freeze any amount of USDT in any wallet, custodial or not

🔴 Tether is not permissionless or censorship-resistant. Those with access to the smart contract ( Tether devs or execs) can freeze any amount of USDT tokens at any address

🔴 Holding the keys to an Ethereum or Tron wallet and using Tether does not eliminate trust

4⃣ THE PROBLEM
Tether (USDT) is at the hands of the SEC, and with the pretext of the Terra USD stablecoin de-peg and collapse, new regulations will soon apply. As a centralized network operated by a small party, Tether follows the same course as previous (to Bitcoin) private attempts that unsuccessfully operated digital currency networks (e-gold & Liberty Reserve)

If Tether contained no value for the regulators, the US financial authorities would have already ordered Tether to shut down operations

Few more things:

🔴 The SEC can end Tether any time it decides to, and when proper conditions arise, it will do so. As long as it can serve the financial authorities, it will remain relevant

🔴 Tether is nothing else than an entry point for achieving partial control in the cryptocurrency market. Upon demand of US officials, it will freeze tokens or shut down Tether’s operations

5⃣ THE MAIN PROBLEM

🔴 If Tether ($USDT) depeg from the dollar will lead to catastrophic results in the industry

🔴 Tether printed  $80billion in USDT tokens (2020 & 2021)

🔴 An $112 billion company that never conducted an audit with an independent accounting firm and never publicly released information concerning its reserves!

🔴 Paolo Ardoino (Tether’s CTO) stated: Tether’s reserves and partners are a “secret sauce”, that statement brings worries and speculation

🔴 60% of Tether in circulation is allocated to Alameda Research (FTX), Binance   , and Bitfinex

⚫️ If Tether collapses ⚫️

🔴 Immediately halt all trading and restrict deposits/withdrawals

🔴 Force log out of all users and enter a lengthy period of maintenance

🔴 Exchanges, as usual, will try to serve their top customers first but there won’t be room to maneuver with USDT dollar price at 0

🔴 Many exchanges will collapse due to this effect!

⚫️ The price of most cryptocurrencies will immediately dive and find no bottom before the ground ⚫️

🔴 Tether MCAP $112 billion / 13 employees = ~ $8.6 billion per employee

It will collapse ?! We don't know but don't say I didn't WARN YOU !!!

[Buitengebieden @buitengebieden]

Having fun together.. 😊

🎥 IG: brownhikingtrails

[Nature is Amazing ☘️ @AMAZlNGNATURE]

This is the best thing I've ever seen!!😂

[Nature is Amazing ☘️ @AMAZlNGNATURE]

British crow asking passers by if they're alright