Looks like Tether won't do their audit: https://archive.is/UBYoTWhen asked the relations between Tether and Bitfinex, Giancarlo said:
“Bitfinex is holding less than 10% of Tether’s share, which have been acquired by various companies. Therefore Tether doesn’t belong to any single platform. It’s an independent company.”
He also explained why the third-party audit was missing:
“Due to the pressure from US banking industry, we are not in a position to fully disclose our bank accounts. Therefore if possible, I hope you can help us deliver the right message to everyone and I will invite you to review our accounts, you will be able to witness our truthfulness and safety.” People are going to have to take it on faith that they actually have the USD backing it... |
|
|
|
|
I'm not buying anything now. I'm sitting in cash waiting for the various pumps to subside and prices to get back to pre-pump levels (which they will, I've seen this movie before).
Obviously waiting is a pain, but it's better than getting in early and overpaying.
|
|
|
|
|
I agree tether looks dodgy - BUT - if tether was the only reason for bitcoin buys, bitcoin would still be in the $20,000 range.
The tether ecosystem might collapse, but as long as there are real bitcoin buys in dollars, euros, korean won etc, I don't think it will affect bitcoin too much.
|
|
|
|
It is NOT A CRASH, when are you going to understand that? It is just a dip! The price went from $13,000 to less than $10,700, that is less than 16%. It can not even be compared with a crash.
This. It's not a crash. Some people are just taking profits prior to the first batch of CME futures contracts expiring on Jan 26th. Be calm, it will pass. |
|
|
|
Interesting article in the Motley Fool about how to gain exposure to Ripple using listed companies: https://www.fool.com/investing/2018/01/22/the-top-3-ripple-stocks.aspxIf you want a piece of the Ripple pie through more traditional markets, these are top Ripple stocks you need to know about.
1 and 2. American Express and Banco Santander
The reason financial-services giant American Express (NYSE:AXP) and Spain's Banco Santander (NYSE:SAN) are listed together is that they're part of a partnership that's currently testing Ripple's blockchain in instantly settling cross-border transactions.
The deal, announced in November, will allow U.S. based American Express users to send non-card payments over the AmEx FX International Payment network to U.K. Santander accounts and will process these transactions within Ripple's blockchain. Ripple touts the ability to settle these payments instantly, which would be light-years ahead of the three- to five-day wait time usually seen when banks verify a cross-border payment. If all goes well, Ripple would hope that AmEx and Banco Santander expand their usage of Ripple's blockchain to other parts of the world.
Of course, investors should keep in mind that for both American Express and Banco Santander, this blockchain test represents a minuscule amount of its everyday business. American Express is entrenched as a credit service provider for affluent consumers and businesses, while Banco Santander makes its home in Spain and other European countries. It'll be great for Ripple if this partnership bears fruit, but if it doesn't, it'll have little bearing for AmEx or Banco Santander.
3. MoneyGram International
On the other hand, money-transfer service MoneyGram International (NASDAQ:MGI) appears to be more intricately tied at the hip to Ripple than any other stock.
On Jan. 11, Ripple and MoneyGram International announced that they'd entered into a partnership to expedite payment flows by utilizing Ripple's XRP coin. Aside from this on-demand liquidity solution, which Ripple refers to as xRapid, the two will explore MoneyGram's integration into Ripple's ecosystem through xVia, according to MoneyGram's press release.
The expectation of this partnership is that it'll result in significantly quicker transfer settlement times, and in the process also dramatically lower cross-border transaction costs. Perhaps the only thing unclear here is if this'll mean lower transaction costs for the consumer, or if MoneyGram International is simply going to boost its margins. My guess is it'll be a bit of both, which would allow MoneyGram's lower transaction costs to undercut its primary competitor, Western Union.
The beauty of this deal is that it really allows Ripple to showcase its coin. Imagine someone in the U.S. sending currency in dollars to someone else in Mexico. With this deal, the U.S. dollars will convert almost instantly into XRP coins, and then those coins will be converted into Mexican pesos, once again almost instantly. |
|
|
|
|
I sold some bitcoin in December. It went up so fast, doubling in the month of December from $10,000 to nearly $20,000, that it was a no-brainer to sell.
When the line on the price graph goes vertical it's a sell-signal.
However, at $10,000 bitcoin is a buy. I'm certainly not selling the rest of my stash, I'm hodling and won't sell till we have another vertical line upwards.
|
|
|
|
Honestly, as someone who has been involved in the space a while, I say sell. I rarely say this as well. But it really seems to be overpriced at the moment from the chart analysis I have done. I think it will go up in due time but I think it will drop drastically once it is able to be sold and traded across all exchanges. Currently a lot of folks are unable to sell their bitcoin cash.
But it's depend on you.
I say hold bitcoincash, as a hedge, just in case bitcoin fumbles the scaling issue. It looks like the mempool is clearing thanks to faster blocks (they're coming every 7 minutes), but problems like Steam, Microsoft and Dell removing the option to pay with bitcoin still remain. Bitcoin has at most 1 year to sort out it's scaling issues. If it can't, another coin will take the #1 spot |
|
|
|
http://www.xinhuanet.com/english/2018-01/22/c_136915469.htmJAKARTA, Jan. 22 (Xinhua) -- Indonesia's agency overseeing operation of financial service firms, OJK, banned those firms in adopting bitcoin, digital money or cryptocurrency in their transactions across the country, its Chairman Wimboh Santoso said here on Monday.
The ban from using cryptocurrency abides by Law No. 7/2011 of the country that stipulates national currency rupiah is the only authorized currency allowed for transactions in Indonesia.
"Financial service providers in Indonesia were strictly banned from taking bitcoin in their transactions. There were sanctions for those violating this rule," Santoso said.
Indonesian authorities were now intensifying investigation into the increasing use of bitcoin for transactions conducted in Indonesia's resort island of Bali, he added.
The investigation was carried out since late last year following the finding of online advertisements of several businesses on the island that accepting bitcoin for the payment of their services.
"We have learned several advertisements in the social media, we understand that Bali has now turned to be a haven for those using bitcoin in their transactions," Head of Indonesia central bank, Bank Indonesia (BI)'s Bali Chapter Causa Iman Karana said last week.
Payments with bitcoin in Bali were mostly conducted by foreign tourists, he added.
In coordination with provincial police, he said that BI would enforce the existing law in Bali by banning the use of bitcoin in every transaction.
BI already issued a ban against cryptocurrency transactions, saying that the bitcoin mechanism tends to be speculative, has high risk as there is neither underlying asset nor official regulator to manage its circulation. It looks like most of the south-east asian countries are going to ban bitcoin, leaving just Japan having it legal.
|
|
|
|
Anyway,the institutional investors have no choice other than invest into cryptocurrencies,if they want to maintain decent profits.
During the last years,the Federal reserve system and the European central bank were very active in prinitng trillions of fiat money.Now,the big corporations have lots of cash reserves and they want to invest them.
This creates bubbles in the various asset markets.
The Federal Reserve has been hiking interest rates and they are reversing QE as well. When bond yields are high enough, people might want to park their money in traditional assets again. |
|
|
|
When will the crypto market become a stable market? 4 days pump after 3 days dump.
When the volumes are at least a 1000 times what they are now. You can only pump and dump in thin markets. That's why the biggest pumps are on the small coins listed on HitBTC. When the volumes get huge, it's harder, you need a lot more capital to move markets. |
|
|
|
|
Most of the transactions in the mempool are not from ordinary people (I'd estimate that ordinary folk sending bitcoin from their qt-wallets to the exchanges are no more than 20% of the transactions). Users sending from exchange to exchange tend to use litecoin, doge or bitcoincash.
That leaves the big exchanges sending coins to one another and the whales moving large amounts as the main source of transactions. If they batch their transactions and use segwit, it reduces the size of the mempool and reduces the fees.
Coinbase announced at the start of the year that they were working on batching, and the sudden drop of the mempool indicates that either they or another exchange have implemented this.
|
|
|
|
If you have got a problem with HitBTC, make an account on Reddit and then post a tyhread with your problem in the following subreddit: https://www.reddit.com/r/hitbtc/HitBTC staff patrol that subreddit and should answer your questions. |
|
|
|
I think its time to ban new altcoins from coming in, there should be a limit on how many altcoins there should be per year
so that people can actually profit from investing in altcoin.
And who is going to do the banning? The code for bitcoin and most alts is open source, and anyone can take the code and tweak it and make their own coins. And any customer can CHOOSE to buy those coins. Free market, isn't it? |
|
|
|
Hi guys,
Today I thought that many ICO are allowing to participate after KYC in which user has to submit national id, address proof and bank statement etc.
Isnt it risky?
There is always a risk - ask yourself whether you trust them not to get hacked and not to sell your details to the dark web. If the answer is that you don't trust them, don't participate in the ICO, buy the coins when they later get listed on the exchanges (you might actually be able to buy cheaper). |
|
|
|
Nice looking analysis you got there. But here's the thing, it's only a 'healthy pull back' if the price reverses and trends back up again. But who's to say that it's going back up again? What if it goes down a bit more to 8k USD? Would that be a 'healthy pull back' as well?
It's currently in the upward channel that was formed prior to November (If you look at teh charts and draw a support line starting from the rise in Jan 2017, you can see that the current bitcoin price is above that line). As long as it stays above that line, it should gradually rise. There won't be a spectacular move, but it should grind upwards. The time to panic is if bitcoin falls below that line. |
|
|
|
|
My advice is don't put constraints on yourself like "holding for 2-3 years". Blindly holding is not smart.
With alts especially, take profits when they come, because if you don't you'll find yourself a bagholder.
|
|
|
|
 Before things got crazy there was steady solid growth. Maybe things are just getting back onto that line? Spot on. We are back in the channel we were in back in November and will slowly grind higher. I don't think we'll get back to $20,000 till 2019, but I don't think that matters as long as the direction of travel is upwards. |
|
|
|
The people trading futures might. I doubt anyone else will pay attention (especially if the data points they are working off can be manipulated). |
|
|
|
|
Show Posts
