It boggles my mind that people consider outstanding loans to be a form of backing. You no longer have access to these funds. All you are left with is a contractual agreement that the loan will be paid back with x percentage of interest. If every Tether holder will be looking to cash out right now, they can't.

If you can't at any time of the day let every holder of Tether cash out to actual USD, you are just a scam. Coinbase and Circle aren't doing anything with the USD's that back their USDC stablecoin. It's right there sitting in their bank account(s), where they at any time of the day can cover every single withdrawal request to USD. This is how it should be.

I am quite certain that when Binance resumes deposits and withdrawals, a few weeks have gone by, the price of Bitcoin and other cryptos have pumped further, no one will even think about this hack anymore.

In the end, you just have to make sure to blend your coins well enough by consolidating both the inputs of 'clean' coins and the 'dirty' ones, and most exchanges will not flag these deposits and ultimately seize them. Binance is quite loose with its verification policies, and for the time being they still allow you to withdraw funds without KYC/AML up to 2BTC.

Exchanges such as Yobit don't ask for any information either to withdraw, so nothing prevents the hackers from using them.

That's correct. PBmining was one of the largest and most popular cloud mining services back in the days. As always, these ponzi schemes don't last for ever since there isn't an infinite pool of noobs within the market cycle(s) they operate in. Thank bear markets for eradicating these bad actors.

According to the hashrate stats on their site they were quite a significant miner, yet no one could locate their mining addresses with how transparent Bitcoin is. They (like most other cloud mining services) always ignored people who asked for their mining addresses, and they had a good reason for that. It was an empty scam hole.

Hello. We have been in a bull run for over a month now. Are you sleeping?

Well, altcoins aren't really bleeding. It's just their BTC ratio that keeps going down because people find their BTC too precious to exchange for whatever altcoin. If you look at the USD rates of most altcoins, they are either slightly up or just stagnant. Altcoins for once have an actual utility other than being a speculative pump and dump tool, which is serving as stablecoin. 

For people having bought altcoins with BTC it must hurt, but for those trading altcoins against the USD are fine, probably just annoyed that they aren't pumping too.

Times are different. Back in 2014/2015 there wasn't anything going on for Bitcoin. What other than the price could go up or down was there to focus on? It's extremely bullish that we have Square doing extremely well with their App, Fidelity allowing Bitcoin trading, and who knows, there might have been a few institutions that are trading Bitcoin within their own portal already but didn't announce it.

This isn't retail capital at work, this is capital specifically focused on Bitcoin, and who focuses on Bitcoin instead of altcoins? Yep, institutions.

It was a pleasant surprise considering that after being seriously tempted to short around ~$6300 yesterday, I didn't.

Right now I want to see a daily close above the $6400 area and if we can do that knowing that weekends are usually not very supportive in terms of volumes, there is no point in being super bearish anymore. It's so funny how the Hyperwave gang is so silent right now and even avoiding to talk about their sub $1000 prediction.

It was a lunatic prediction even before the price started pumping. These idiots are here just for the purpose of boosting their social media status without being exposed to Bitcoin at all.

Roger Ver is fucked in the head. I am fairly sure that he converted most of his BTC holdings to BCash, which explains why he is hardcore pushing it in people's face.

People also keep saying that the Bulgarian government holds over 200,000BTC, yet no one has a clue where even a single coin is, let alone the rest. There is nothing but a few vague articles stating they have seized that many coins. I get it that people love these stories, but what are they worth when most of these stories are made up or largely incorrect?

In the end, most of the entities on that list are rich already. I find it much more interesting to see the smaller fishes become large fishes as time goes by.

You can try to convince the hackers to delete every private key or send the coins to one of the multiple publicly known burn addresses. Give it a shot. Ask them on social media to do it.

The hackers will very likely sell them through peer to peer transactions where innocent people end up buying these coins. Or the hackers will exchange these coins for drugs or whatever, then sell to fiat. It doesn't really matter if it is a process that ends up taking years with how Bitcoin continues to gain value.

This guy doesn't understand anything. He's being used by financial institutions that generously provided millions in backing in return for a voice through this balding proxy muppet.

It's not going to lead to anything with how much wealthier institutions have enough of a say and incentive to not let this clown mess up their plans to provide Bitcoin related products.

I think this is institutional capital at work. They focus on Bitcoin because that's always the first coin to enter and build a product around.

In most cases when Bitcoin went up, altcoins followed because shitty crypto funds work with their own portfolio baskets where each basket contains an x percentage of multiple coins (basically the idea of 'never put all your eggs in one basket').

- Warren Buffett.

No wonder that most of these funds imploded during the bear market. 

Gold is an amazing indicator to measure fear; if it doesn't move in times where people do expect it to move, there just isn't enough fear in the market.

Another aspect is that most of the money that's being printed largely flows straight into the stock market. In that regard, it makes sense to ignore Gold, because hey, Gold might be a safe haven asset, but if stocks offer more short term reward potential, investors will ignore Gold until they see the stock market run out of steam and make lower lows, which it hasn't done.

Most people before the US stock market firmly rebounded were strongly of believe that it was the beginning of a massive correction ultimately leading to a crisis. Turns out, it was an amazing buying opportunity.

What people are you talking about? He actively promoted scam ICO's and people lost tens of thousands of dollars as result. If he actually made people buy Bitcoin, that would be a good deed, but nope, he wanted quick money at cost of innocent people. John McAfee is untrustworthy and doesn't deserve the "respect" people attribute to him. Guess what he will do during the next mania......  

He is also close friends with Roger Ver, which doesn't surprise me one single bit. Scammers like to be surrounded by like-minded people.

If the CBOE Bitcoin ETF proposal isn't going to be approved, then the inferior other proposals by default don't stand a chance.

Submitting an ETF proposal is something that isn't special on its own, neither that the SEC will look into it.

An ICO craze will result in innocent people filling the pockets of scammers. Ethereum ETF? No thank you.

If you badly want to cash out, then cash out the profits and keep your initial investment in Bitcoin. We're currently in a greed zone where people don't want to part with their coins, while before this run up people didn't dare to buy coins at the lower levels. Don't get caught in either of these.

It feels much better to benefit from both up and down directions than to wait for the price to keep going up, which might happen, but it could as easily start going down soon. In the end, you'll only miss that what you no longer have, so make sure you don't have to feel bad by not having cashed out profits.

Bitcoin has always been generous by offering another opportunity to buy back lower. I don't think we'll be seeing sub $4000 levels again, but sub $5000 is definitely not out of the question yet.

Bitcoin is disruptive. Bitcoin allows people to bypass whatever it is that governments and banks subjects them to, and this might be a scary thought for those who always relied on governments and banks. Governments are our friends, right? And banks do everything to protect our money, right?

If you also add the anti Bitcoin propaganda, specifically meant to brainwash the average person, it's clear why people still see it as a criminal currency. Propaganda is a powerful tool that governments very frequently use to manipulate their own people. Don't underestimate this.

It's going to be a long process before people really figure out who the bad actors are.

People still dreaming about PayPal to start integrating Bitcoin are delusional. PayPal uses fiat currencies, and potentially even other tokens within their centralized ecosystem. All the value that people move back and forth doesn't actually move back and forth, and the same will apply to Bitcoin would they ever integrate it.

People also praise Coinbase for allowing them to move Bitcoin instantly without a fee, but this is the same principle, there is no such a thing as Bitcoin transfers. Nothing moves here. You aren't using Bitcoin but Coinbase's interface.

We don't need PayPal or other financial institutions for integration. We can transfer any amount we want without asking for permission already, and with Lightning, PayPal has only its buyers protection left to compete with Bitcoin. It's only a matter of time before they lose. The train is moving moving forward without going back.... choo choo....

Asking this on a Bitcoin forum is like asking Bitcoiners if Bitcoin is a shitcoin or not.

These old dust farters don't care about Bitcoin, just like how Bitcoiners don't care about Vechain or whatever other shitcoin. If you as news outlet continue to ask these legacy investors the same silly questions (which they obviously do on purpose), you can only expect them to talk shit about Bitcoin.

Ask me about a random shitcoin, I'll make sure to tell you what I think about it. 

My thought is meh as long as we don't make an attempt to face resistance at ~$6300. Daily close above ~$6300 is yeppie. Weekly close above ~$6300 is wooohooooo.  

I'm very tempted to open a fresh short now we're still at $6000 but on the other hand I don't want to go against the trend either. Decisions.....

Not financial advice? If you're 'just' sharing your opinion it is in fact still financial advice, especially because of how you state that right now seems to be a good time to buy. Did you buy?  

I'm not saying the bull mania didn't inflate the fees, I'm just saying that the BCash split added tons of fuel to the already ongoing fire. The hashrate shifts caused the block times to slow down with 50%, which means that as per the average 10 minute block times, the blocks on average were only able to process 0.5MB worth of transactions instead of the usual 1MB. More blockspace scarcity on top of more blockspace scarcity = extreme ~$50 fees.

On top of that, most clients were (still are to some degree) bad in calculating proper fees. They are biased to recommend a much higher fee than needed.

It could be, it could not be. Higher fees = incentive to adopt Segwit so it might help adoption too in that regard.

It could be less or more than a week. As long as Binance itself doesn't know how the hackers managed to manipulate their security measures, no funds will be able to move out.

I like the fact that they have their much memed SAFU fund, but it still sucks because people don't know how long exactly it will take before they can access their crypto funds again. This once again shows that you completely depend on the exchange's mercy to allow you to withdraw. Imagine the stress people go through despite the statement from CZ that they will utilize their SAFU fund.

People somehow thought Binance was a fort knox that would never get hacked, well, they were wrong.