• Tether
    Media,  Opinion,  Tether

    Bloomberg’s Tether story doesn’t answer persisting questions

    The real concern with Tether isn’t whether or not it has enough cash in the bank

    Tether advocates rejoiced on Tuesday after a story by Bloomberg’s Matt Leising seemed to reassure readers that the stablecoin had enough dollars to back each token. “Bank statements reviewed by Bloomberg News suggest those fears may be unfounded,” Leising wrote. The story’s big contribution to the Tether debate was only that Bloomberg saw four separate months’ worth of Tether’s balances and each exceeded the amount of circulating tokens. Yet Tether’s bank balances should be expected to be positive at month’s end. As written in the often-cited study by John Griffin and Amin Shams of the University of Texas on alleged manipulation of Bitcoin prices using tethers: “the strong negative effect on…

  • Ian Balina
    Alt coins,  Cryptocurrencies,  Media

    Keeping your cool after losing $2.5 million: Ian Balina talks to Modern Consensus

    ‘The category of hate that I get is different from other influencers that don’t look like me’

    One amazing thing  about crypto culture is that there are few heroes and many villains. People have muted feelings towards Satoshi Nakamoto and Bitcoin Pizza Guy yet they make memes about how much they hate Roger Ver, a guy who actually spends time working on the blockchain. To make sense of this, we sat down with one of crypto’s most successful—and controversial figures—Ian Balina. Non-traders might recognize Ian as the guys who got $2.5 million stolen from his account in the middle of his own livestream. Until then, Balina had been so successful that he was known for “The Ian Balina Effect” for the success that followed him. This is…

  • Bitcoin,  Media

    This new viral video is the most awful thing you’ll see this Thanksgiving weekend

    ‘BitPay’ video draws contempt from crypto audiences

    Rachel Siegel is back with a new video and this one is actually going viral. Inspired by Rebecca Black’s surprise viral hit from 2011, “Friday,” Siegel and her Crypto, Finally YouTube channel have released “BitPay.” Modern Consensus broke the story on Siegel and crypto, finally to the world last week, with “Forget environmental damage, this is the worst thing you’ll see about crypto in a long time”, the first article written about Siegel’s videos. The newest video has hundreds of retweets, including from the creator of the popular Chapo Trap House podcast, Will Menaker. The video doesn’t disappoint. Some lyrical highlights: “Everyone’s adopting Bitcoin / Don’t be a weirdo” “Bitpay…

  • Bitcoin Cash fork
    Bitcoin,  Media

    Must-reads for Nov. 13, 2018: What the fork? The Bitcoin Cash edition

    These are the Bitcoin Cash stories you should be following today

    CoinDesk has been on a tear all day Tuesday about the Bitcoin Cash hard fork: Opposing Bitcoin ABC and Bitcoin SV Factions’ Debates Grow Heated as the Bitcoin Cash Hard Fork Draws Closer What Fork? Asian Traders Are Buying Bitcoin Cash Bitcoin Cash’s ‘Mining War’ Escalates as Blockchain Hard Fork Approaches Traders Now Betting 2-to-1 Bitcoin Cash Fork Will Cause Price Decline Hash Power Favors Craig Wright Camp in Looming Bitcoin Cash Fork Plus, they also reported that one of the people in the “hash war”, Jihan Wu, has been stripped of power at Bitmain: Bitmain Co-Founder Jihan Wu Loses Executive Power in Board Reshuffle, Says Chinese Media   An…