Oddbean new post about | logout
 Did someone say Swan just launched a cloud mining business in partnership with Tether? https://image.nostr.build/2dd37e70032e7b81478c1bac610d6b2a7c10823ae1b4dc287e1e7e7bec05547a.jpg  
 DAMN.gif 
 Yikes. What was Cory responding to? 
 Cory was great at identifying scammers. Which always made me feel “it takes one to know one”. 
 I didn't think it was cloud mining. It looked like selling existing infrastructure or handling the setup.  
 Ye that’s cloud mining lmao 
 I thought cloud mining is when you're renting someone's infrastructure.  
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 This is not a cloud mining service. This is bespoke managed mining for institutions. More detail in the release https://www.swanbitcoin.com/swan-announces-managed-bitcoin-mining-service/ 
 Glad someone kept receipts 😂 

@Tortuga @bevo @Vic 
 Fucking wankers 
 Does this reek of tether trying to find sources of large numbers of dollars to back their printed liquidity or what? 

They partner with a US based institution, collecting real dollars, sell them mining equipment and other assets bought with bitcoin or tether dollars, and get paid in real dollars. Liquidity grab? dollar shortage? Banking regulations getting harder to skirt? 
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