As Bitcoin surged through $16,000 it’s largest exchange Bitfinex has declared it will take legal action against critics. Sounds like it is run by millennials to have to threaten those who disagree with them. In the following article Bitfinex attorneys said,
“To date, every claim made by these bad actors has been patently false and made simply to agitate the cryptocurrency ecosystem. As a result, Bitfinex has decided to assert all of its legal rights and remedies against this agitator and his associates.”
However it seems an independent audit over the USD reserve status of Tether, which Bitfinex is involved with has not been conducted as promised. Seems a pretty binary question. So threatening to sue a blogger before facts have been laid bare does seem rather strange. Indeed wouldn’t an audit put to bed fears of a rigged system?
Indeed if an exchange goes down and people wanted the cash equivalent for their coins then wouldn’t the Ponzi scheme be revealed?
As Bitcoin soared past $16,000 overnight it is hard not to feel bewildered but at least there is comfort in knowing dissenting voices will be sued.
Just as a side note. As a business if I accepted bitcoin from a client for $16,000 equivalent services bill yet all my $$12,000 of outgoings for staff, office space, utilities, mobile phone etc were in dollars what would happen if my bitcoin halved in value? All of a sudden my $4000 profit has turned into $4000 loss. Would businesses want to carry the risks of bitcoin in trade unless the landlord, staff, utilities and cellphone companies all agreed to accept it as payment? Torn asunder the tax man only accepts dollars as far as I know.