Doug

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@DefiIgnas Circle and Jeremy Allaire hates bitcoin while tether and Paolo Ardoino loves bitcoin. Would never hold usdc.

Why would you hold USDT instead of USDC? For trading some markets? Sure. Maybe occasional higher yield on lending? But there's no point being a stablecoin maxi: neither USDT nor USDC pass down the yield to holders. No equity exposure to Tether either. You get 100% of the risk but no upside (only temporary escape from crypto volatility). There's also no need for CT to get defensive on S&P's latest downgrade risk for USDT to 'weak'. That was my first though. On the second thought, Tether is buying BTC (5.5% of backing) that helps pump its price. Kinda based? Circle just holds US treasuries and cash-equivalent assets. But we've got Strategy for pure BTC proxy-trade. And Strategy pumps when BTC does well, why USDT has no upside... Oh, but Tether also buys gold for their backing. Now at 7%... Ok... Why not buy more BTC instead of gold? Are their bearish on BTC? Anyway, 10.5% of the backing is a salad of loans to 3rd-party non-affiliated entities like crypto trading firms, mining operations, etc.* I get flashbacks to 2021 when Tether lent $1b USDT to Celsius (backed by BTC) as part of "secured loans" category in their reserves. At that time loans like this were 8% to 10% of USDT reserves. Now, ~23% of USDT's backing are volatile assets (what S&P calls high-risk assets). Up from 17% a year ago. Why not climb to 50% in 5 years? Their profits pump. Although I get nothing out of it. I think I better stop FUDding Tether as USDT collapse would rekt my portfolio as it would leave an exodus of capital from crypto. At the end of they day, I don't and won't hold USDT (As EU's MICA protects me from it and Binance won't allow me trading USDT markets). So I won't say anything besides 'Tether good': they pump my BTC bags. So that's that. *Tether doesn't disclose borrower identities or loan terms for privacy reasons, but BDO checks a sample for collateral and overcollateralization.

@gainzy222 is 50/50 $gnzystrm and $jesus the perfect barbell strategy for christmas? gambling, sin and degeneracy perfectly balanced with faith and decency

low key i think nows the time to sprinkle money into xmas memes and wait to see if one becomes a turbo runner realistically u’ll prob get farmed but who cares it’s like a more fun version of playing the lotto cuz u can conceivably win

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@johnfoss69 exactly. the only reason to prefer zcash is if you have a heavy bag. like naval, silbert, burniske etc. completely dishonest people who have ZERO mentions of monero, but shills zcash because its private money

@Doug75587371 I don’t own any Zcash and never have, apart from a small fraction of a ZEC that some Zcash ppl sent me a couple of days ago so I could test it out.

I'm not the most technical person and I like to check my bias. I asked Grok and ChatGPT which they would trust for a truly private life or death tx, Zcash or Monero. Both picked Monero for reasons such as it's default privacy, proven fungibility, less metadata leakage, and stronger resistance to chain analysis. Zcash folks, what am I missing? Link to grok chat - x.com/i/grok/share/h…

@naval zcash got one usecase: funding for groceries. those who need private payments and private cash use monero

Bitcoin is insurance against fiat. ZCash is insurance against Bitcoin.

@circle_crypto arise chikun is also the first rune on the litecoin blockchain. chikun.market/runes/

1/5🧵The ground is shaking... feathers are flying... could this be the moment the legendary Chikun finally ARISES? If you're a crypto OG, you know the meme that's been secretly powering pumps for over a decade. Let's unpack 'Arise Chikun' – the ultimate LTC battle cry!

@gametheorizing @Galois_Capital @Rhoneus We have been at war with china for a few years already, its just getting more obvious at this point.

@Galois_Capital @Rhoneus this is totally wrong framing of the game as being zero-sum

Things in China’s favor: 1. US needs to roll a lot of debt in the first half of 2025. 2. Midterm elections are a risk for Trump if he goes too hard for too long. 3. The Chinese, culturally, are world champions at being willing to endure hardship. 4. China controls a lot of rare earth metal production. Things in the US’s favor: 1. China needs to fight deflation and already has a lot of debt. 2. Net importers have the advantage over net exporters in a trade war. 3. US can make trade deals with countries that net export to the US and net import from China where US tariffs are dropped if those countries puts up tariffs on Chinese imports. 4. The CCP really doesn’t want to see civil unrest like during the late stages of their zero covid policy. 5. US has geographic control of many global canals and shipping routes. This is why Panama was important. Net-net I think the US wins this chicken game. Probably still best for someone like Singapore to try and broker a meeting so neither side has to approach the other first and they can both save face.

@notsofast and one feathercoin should be worth 0.25 litecoin

@Cryptopathic And as far as i know. BBQ was never listed on btc-e. It was listed on cryptsy during the 2013 alt season.

@Cryptopathic Someone should do a "revival" of maxcoin as well. "Revival" since its still alive and trading. That has to be one the most historically significant altcoins. Launched live on the keiser report by cobie. Should be worth millions now as a part of crypto history.

this is the actual first memecoin btw (2012). i don't own any but is nice to see people preserving history. you'll remember this if you traded on btc-e

@vladcostea If you don't prefer monero over bitcoin at this point in time you were never really a bitcoiner.

All this bullishness for banks built on top of Bitcoin (Fedi, cashu) makes me wanna buy more Litecoin, Monero & Zcash. I didn’t get into Bitcoin to surrender freedom of transactions for convenience. I didn’t become a Bitcoin maximalist because I want the network to scale & become private through custodians. I was genuinely hoping that all the cool features would come to Bitcoin in a trust-minimized & self-custodial fashion. If I can’t get what I want, I will find it elsewhere & pay fees to other miners. It’s in the nature of free markets to enable competition and provide options. Until Bitcoin improves, every complimentary altcoin is more than welcome & useful.

@cryptomanran @Cryptilt What’s stopping something even faster and cheaper from replacing sol this cycle? Bitcoin has been declared dead multiple times because it’s slow and inefficient. But what if long term value actually relies on some bare minimum’s of decentralisation and censorship resistance?

Serious question, If ETH and SOL both launched today, would anyone actually use ETH?

@ChrisBlec Those in savers will lose their btc when legal action is takes. It is just a matter of time. The buy back and burn mechanics of both the savers and lending products is pure ponzinomics that will get people rekt.

Uncomfortable take - THORChain has a doxxed lead dev. What's the plan if he gets arrested ala TornadoCash devs? We need to assume the worst. For instance - would node operators freeze LP/earn withdrawals indefinitely if it was the only way to get Chad out of jail? Stay wary.

@ChrisBlec @THORChain @THORSwap @ShapeShift It's just a question of when thorchain devs will be asked to halt the chain. It might happen next week or two years from now. But the day is coming.

Note that @THORChain is still up and running. @THORSwap is just a front-end. But it’s by far the most popular front-end. Another front-end is @ShapeShift.

Devs of @THORSwap have disabled their THORChain swap UI because FTX hacker used their service. They’re in self-preservation mode. Whether it’s THORSwap or Chainlink or any project at all - wherever centralized control exists, you must assume it will eventually be used.