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Tether is a good conduit for funnelling from fiat to a more fungible form of token that can be traded across exchanges around the world. There is nobody that is denying that.
What is being questioned is the legitimacy of the reserves that they claim to keep, as well as the fact that they have recently revised as to what "full reserve" means by adding in new assets that can be counted as reserves (essentially allowing them to invest in riskier asset classes with money stored with them).
Inherently there is nothing wrong. There is just a risk that they're running a fractional reserve, that's all.
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Bitcoin just made a sudden or abrupt rise hours ago and it reached more than $10,000 before settling at around $9000 as of the moment. Now, I am actually so excited and happy for this development as I also have some Bitcoin hidden somewhere. However, i am a little worried that this very volatile move can be bringing some damage to its overall reputation as a store of value and a future global currency.
Is my concern really valid in the face of this ongoing development?
No. A long term store of value can be volatile in the short term. It's not contradictory to have an asset that may be volatile in the short run, like gold, to be considered a safe haven asset for storing wealth. I'm not concerned whatsoever in that aspect, although what I am concerned about is that people are FOMOing to a very significant extent. A 30% rise is not natural within a day, even with the Xi news. |
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Why are we still talking about ETF approvals at all?
I don't think that any ETFs in their current form is going to get approved by the SEC. They are honestly sending a very strong signal with each time rejecting the subsequent ETF application. Nothing has changed this time round so I don't know why people are expecting a different result.
Besides, I've grown sick of saying this, but ETFs don't matter at all to actual adoption. They are all about allowing fund managers and institutions to profit more, and does not affect the fundamentals of BTC whatsoever.
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The main reason comes down to the fact that fiat is intrinsically worthless.
To put it more strictly, its intrinsic value is simply the piece of paper that it's printed on. Since central banks can simply "print" more of it, or in the modern era, create more bank reserves, it essentially means that there is no cap on the scarcity.
If anything doesn't have a capped supply it's bound to depreciate in the long run, especially when there is uncontrolled money issuance.
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I think it's still primarily due to the fact that China has issued some positive word in terms of blockchain tech.
I don't think that this is going to translate into anything in the long run, and that the markets are most likely just looking at anything to get things hyped up right now which explains the FOMO buying of yesterday.
People need to realise the difference between blockchain and crypto, especially when it comes to decentralised cryptos.
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As i beginner i meant someone who's been trading for around half a year now (not day-trading).
Are arbitrage tools necessary or do they just make your life easier and which sites offer them?
Arbitrage was never to interesting to me but i've talked with a friend who's making a decent profit out of it (at least that is what he said...)
Thanks for help!
Crypto markets are generally very liquid and there is rarely an arbitrage opportunity. If there is, then usually it is due to some form of friction between exchanges, whether it's withdrawal issues, deposit issues, wallet maintenance etc. You'll likely see plenty of good arbitrage opportunities on paper on small exchanges, but either they have a lack of liquidity or there is no way of getting money in/out of their exchange, so essentially they're a closed system. I wouldn't recommend buying arbitrage bots either. The profit margins are low and your coins can easily get stuck at a particular exchange without human intervention in the process. |
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I find it hard to believe that this is some sort of co-ordinated regulatory tightening from all 30 countries. Especially when there are still other regulated exchanges that are still operating or offering services to these aforementioned countries.
But the list excludes any major first world country, and includes mostly countries that are experiencing either economic hardship or subject to some form of global sanctions at the moment, which is very curious.
Much more likely that Bittrex is simply feeling the pressure to self-regulate and not have to make these changes in anticipation of the future.
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More drama involving Bitfinex.
These individual rogue actors are what is painting the entire crypto business scene in a bad light. The media obviously plays a role in propagating this type of stereotypes into the mainstream reader base as well. Money laundering occurs everywhere and yet, when the means of transaction is crypto, people seem to make a big fuss about it even though it might not even be near the size of some operations done with fiat.
Either way, my biggest takeaway is to avoid Bitfinex for now. They seem to have a history of associating with questionable characters.
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With that said, though, it is an "old-school" martingale which is a sure way to lose all but what about using martingale when you constantly lower your chances to lose at each red streak by extending the number of losing rolls till you go bust? I don't know if it can actually help but it is certainly worth discussing here I don't get how that strategy could possibly help. Extending the amount of losses that you can sustain in a roll simply means that you are lowering your bet. The negatives from that, which is in the form of lower profits obviously, essentially balance out any positives you get in terms of having higher tolerance for losing streaks. At the end of the day, your expected value is still negative. There is no strategy that allows you to win in the long run in any casino games, unless you are playing games of skill against other participants. |
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No way.
There is simply no FOMO going on with the alt market anymore.
And look at the bitcoin dominance index, it's continuing to go up. Right now the climb in alt prices is purely due to the fact that bitcoin had a crazy run up to $10k from the $7.5k low within one day, not because of anything other than that.
And with the way institutional investors are looking, it's apparent that it's going to stay that way for a long while.
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Extremely surprising to me. I don't think that this level of growth is sustainable in the short term, but in the long run, this could be the spark for the next bull run for sure.
The $9k resistance has been broken through in no time it seems.
I think that $10k should still pose a significant resistance, but obviously that is unclear right now. I personally can see an adjustment happen very soon, since this seems a hell of a lot like a short squeeze.
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It does, but probably not in the way that you think of it.
Even if you're disciplined, gambling is -EV at the end of the day. Placing 100 small bets that result in a 1BTC volume has the same expected outcome of having 1 large bet of 1 BTC. In that sense, discipline doesn't matter at all.
What matters is your attitude towards gambling. Treat it as entertainment, and know that the less VOLUME you gamble, the more you gain (or lose less, rather) in the long run. It has nothing to do with strategy.
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I'm happy to fill this loan for the 0.005 BTC.
If you're still in need please post a signed message here involving the loan terms and I'll send the BTC over straight away.
Thanks
Edit: just saw that you also applied with Royse. Idm if you choose to go with him
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As you know, every time there's a major price movements, the next day people, especially crypto journalists, start coming up with their own explanations why it happened - they try to tie it to some political or economical events in the world, statements by important individuals or organizations, correlation with some other markets, something related to mining and so on and so on.
Well, today Bitcoin went up by 14% ($1,000) without absolutely no reason - nothing important happened today that could have shaken the price so much. Let this be a lesson to people who look for patterns - Bitcoin is random and unpredictable in short terms, just accept it.
Exactly. People try to explain the underlying principles of every single bitcoin price movement that they see. A lot of the times there is simply no single or rational explanation. Market forces move in very unpredictable ways and it's essentially pointless to justify why they act a certain way. Otherwise you're assuming that everyone is rational - which we know they aren't. One small price movement due to natural volatility can spark long or short squeezes as well. But it sure seems like that BTC has found a bottom at around $7k, and we may well enter into another phase of bullishness. |
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There were reports of Cointelegraph's Facebook account being unreachable and many of us guessed many reasons for that but now it's confirmed that the Facebook account of Cointelegraph, one of the popular crypto news site was actually blocked by Facebook. They don't know the real cause but facebook has on it's terms that they may block anyone that promotes online real money. The Facebook page is now unlocked and visitable.
I'm not sure why this is the case. Honestly, I can't think of a reason why FB, who is trying to step foot into the crypto space themselves, would ban an influential account like this. It's probably not even something that is due to a tightening in regulatory stances or anything like that, since Coindesk and others are still running without issues. Very strange. And I would suggest people stop speculating until sources actually come out with confirmed answers. |
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I wonder if Visa would be able to compensate these unauthorised purchases?
That's what they usually do. But due to the irreversible nature of bitcoin that is involved in the transaction I'm not sure if they stance remains unchanged.
This is one of my primary concerns in regards to bitcoin debit cards - they sound awesome in the beginning but then you realise that you're tying something irreversible to somethnig that be accessed through just typing in a card number and expiry date (and CVV).
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I personally think that all privacy coins, XVG included, will likely not see any sort of extended period of bull runs until the doubts in regards to the regulation of these cryptos are lifted.
Especially when you look at exchanges that are actively delisting anonymous coins (not really that big of a concern right now in the western world, but still a scare nonetheless), it's hard to inspire confidence and FOMO when you've got that looming over the entire market.
XVG is capable of periods of extreme price hikes, but at the same time, it doesn't really see that much actual adoption.
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A clear shift on the market can be felt. Instead of trading altcoins, people nowadays are doing leverage. Maybe they got tired waiting for the new alt season.
Yesterday right before the collapse, $150 million of long positions were completely liquidated on Bitmex. Logically, it creates a sell pressure on the market and the price goes down, causing more long positions to be liquidated in a chain reaction. Of course, this is just one suggestion of why the collapse happened in a matter of just one hour.
Which one you consider better?
It's a very interesting thing to ponder. I personally definitely see people shifting from investing in altcoins to investing with leverage, because alts were initially seen as a leveraged position on bitcoin themselves given how volatile they are. With bitcoin dominance continuing to climb, it should be no surprise that people would rather trade on a more liquid derivatives market that can provide more upside, as opposed to the less liquid, less hyped alt market. |
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I completely agree.
The demand for alts are solely dependent on BTC. There is very few alts that exist in a vacuum and don't follow BTC's wider movements (XRP is one of them, I think).
Perhaps altcoins will rally against BTC while BTC is falling but it is highly improbable for any alt to rally in USD or other fiat currency terms while the overall market sentiment is bearish, as indicated by falling BTC prices.
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