[Cryptography] PoW is the worst way to do a BlockChain, and pretending they're dollars isn't much better

[John Levine]

In article <c7ca50eb-8410-233b-c35c-41385020e07c at echeque.com> you write:
>Need open entry into the "cabal", as well as cooperation and secure 
>efficient transactions between competing cabals, ...

I hope this doesn't come as a big surprise, but that's not how cabals
work.

While we're at it, how much longer until Tether implodes?  It is increasingly
implausible that Tether's reserves really exist, but very plausible that
un-reserved Tether explain a lot of the runup in Bitcoin prices:

https://www.lawfareblog.com/another-cryptocurrency-target-us-regulators-tether

(This guy isn't a random crank, he's a crank who teaches at U.C. Berkeley.)

And more about Bitfinex, the company behind Tether:

https://medium.com/@bitfinexed/wash-trading-bitcoin-how-bitfinex-benefits-from-fraudulent-trading-8bd66be73215

(This guy is a random crank, but a very well informed one.)

R's,
John