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patio11's profile
Patrick McKenzie
Patrick McKenzie
Patrick McKenzie
@patio11

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Patrick McKenzie

@patio11

I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.

東京都 Tokyo
kalzumeus.com
Joined February 2009

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    Patrick McKenzie‏ @patio11 20 Jun 2019
    • Report Tweet
    • Report NetzDG Violation

    Patrick McKenzie Retweeted Amy Castor

    I know this seems like a tiny little bit of naughtiness by a bunch of no-account operators far far away but if you think that Bitcoin matters for any reason literally no one reason question is more important than what sort of fraud Tether is.https://twitter.com/ahcastor/status/1141901252588007425 …

    Patrick McKenzie added,

    Amy Castor @ahcastor
    Total circulating supply of tethers is now 3.7 billion. Tether is headed toward issuing a full $1 billion worth of USDT this month on top of the $1 billion worth it issued last month.
    9:35 PM - 20 Jun 2019
    • 5 Retweets
    • 21 Likes
    • POSIWID June “Wakalix”, [null] Tom Lowenthal Mark (🧘🧪🧙‍♂️💩❤️) Cryptwerk 🅺🅰🆂🅴🆈 Amy Castor Nick Olinger Bill Stewart
    3 replies 5 retweets 21 likes
      1. Patrick McKenzie‏ @patio11 20 Jun 2019
        • Report Tweet
        • Report NetzDG Violation

        The best case scenario currently is “They’re speculating with customer funds but YOLO what is life without jousting with securities regulators in one’s major market. It’s not a Ponzi. They’re the exact combination of skilled and unprincipled required to run this business.”

        1 reply 1 retweet 14 likes
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      2. Scott BurkΞ‏ @scottburke777 20 Jun 2019
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        Replying to @patio11

        Not a fan of Tether, but when the allegations came out last month that they lost/repurposed $800m, the market barely blinked! I think Tether is important to BTC markets but not existential. I'm sure my co-founder @androolloyd would heavily co-sign your tweet though. 🙂

        1 reply 0 retweets 3 likes
      3. Andrew Redden‏ @androolloyd 21 Jun 2019
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        Replying to @scottburke777 @patio11

        Makes you wonder why it’s so important, when the Tether printing press just mints new tokens with zero transparency. Oh look a bull run..... #NoCoincidence

        0 replies 0 retweets 5 likes
      4. End of conversation
      1. New conversation
      2. Nick Olinger‏ @olingern 20 Jun 2019
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        Replying to @patio11

        Companies like this is why we can't have nice things.

        1 reply 0 retweets 1 like
      3. Nick Olinger‏ @olingern 20 Jun 2019
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        Replying to @olingern @patio11

        "It formerly claimed that each token was backed by one United States dollar, but on March 14, 2019 changed the backing to include loans to affiliate companies." Just change your business model on the fly, eh? 1 - https://en.wikipedia.org/wiki/Tether_(cryptocurrency) …

        1 reply 0 retweets 1 like
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      2. Don't ask‏ @berenbergdc 21 Jun 2019
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        Replying to @kacperwikiel @patio11

        At one point people start trying to get cash out of the exchanges. There is no cash, only USDTs...

        1 reply 0 retweets 0 likes
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