Justin Sun's statement of buying over $40M worth of coins using USDT somehow supports your theory but I don't think we can already assume that exchanges have conspired in order to make this pump happen. If they do then they are subject for market manipulation which already is in place in some areas particularly the US, and so US-based exchanges would have been nabbed by now if this is to be proven. But yeah, I don't think the sudden influx of money in the cryptospace is done by real USD but rather mostly USDT. The only ones who will lose in the end though are exchanges left holding the token if people are intelligent enough to actually withdraw funds immediately after profiting.
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We're yet to see a working social media platform that peruses the blockchain on some of its services, though Facebook has already announced its involvement in the said tech, I still don't think that they are really thinking of launching a service connected to the blockchain in the soonest of time. Also, I can see no probable and suitable integration of the said tech in social media platforms. Perhaps its better to leave these platforms as is and not just ride the hype of the blockchain as nothing will ever change except for marketing purposes, of course.
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For some people, it already is a great value reserve and serving other purposes aside from what was mentioned. I'm not so sure about 'deterministic sense' though the past cycles of bitcoin suggest that we are always heading north (if that makes any sense) but still, not in a definite fashion/manner. Anyway, it is now changing the financial world in ways one can only imagine back then, and I think that's more important more than anything else, and a subtle break from the constraints of banks helped some nations, too.
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No one really knew that this would blow out of proportion and so everyone was caught aback when we suddenly crossed multiple crucial resistance points. With Bakkt teasing their launch sometime in July, this would only get better and would even propel this thing further. Personally I think that the 1st of April boost was really a planned date and event and is just the starting point of this run. $10,000 is just around the corner and with more positive news coming in, FOMO would surely kick in and do its thing.
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Eh, no. Just because China banned miners doesn't automatically mean that the demand will be rising. Mind you, similar actions were taken a while back by China and constituents yet price remained stagnant and demand is somewhat dead. Perhaps this has something to do more with direct manipulation and Bakkt teasing the market rather than China again, for the market has since matured ever since China started playing games in 2015.
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He never did, but he sure lingered on the fact that bitcoin could very well be a great contender for a digital currency, which bitcoin is used today. From the quotes and posts you linked in here, it clearly state Satoshi's oversight of what's to come given the nature of his creation. Free from banks, anonymous, deflationary and of course, peer-to-peer, this is what he really had in mind and not overthrow the current financial system that we have right now.
Whatever he created, it's working real good and we are reaping the bemefits off of it.
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Physical thefts would soon occur rampantly, and the possibility of governments hoarding bitcoin as a substitute for gold in reserves is possible too, though the scenario of bitcoin reaching $1M a piece is somewhaf improbable unless hyperinflation struck the USD in our lifetimes (which is definitely not going to happen.) Up to now it has always been a question that has posed many answers, though in reality we'll never know unless we get there.
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He's a great economist and an experienced trader, I'm pretty sure of that. But when it comes to bitcoin and other disruptive fintech that has been introduced recently, I don't think they have studied the said subject matter quite well to throw shade just like that, and to think that they are vaguely stating things just like that in order to cause a buzz. Either way, bubble or not, I'm pretty sure bitcoin already helped in the wealth redistribution somehow (I'm one of the lucky ones) and will continue to do so as long as people get to know about it. Peter Schiff can rant all he wants, but then again he knows that the stock market scene is going to collapse any time sooner and the only viable option is to hold other assets such as bitcoin.
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It's funny and a shame at the same time that a country boastfully owns gold for its reserves, only to know in the end that they don't fully have the rights to spend it or use it on any things they like or wish to since they need to ask permission first for their own property. I wonder what would be the reaction of other countries if they found out about this. To be fair though, everyone under the European Central Bank would have the same treatment, or would have the same process if they'd like to use that gold in reserves (CMIIW, thank you) so Italy is not alone on this ordeal.
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There isn't anything to recover, IMO, as the prices that we all saw the past few days are just the results of an over-inflated and over-hyped bitcoin with FOMO on the side. Correction would surely find its way before we see any grand push within the next few days, and I'm pretty sure correction has long been overdue for bitcoin as we are already 10+ weeks in the greens, and it has to come down somehow. $10000 is very plausible at this rate, though I wouldn't expect it to happen within just the next few days.
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The only thing that I don't like with bitcoin (or bitcoin wallet clients, I think is more appropriate) is that it doesn't tell the user whether the address that I've pasted on the 'send' tab is something that can really receive bitcoin or not. I know there are ways to discern whether the address is a bitcoin address or not, but it's not being implemented on most wallet clients just yet. I've been seeing multiple users, especially beginners who are quite confused on how things work for bitcoin and so I think it's nice if the devs can come up with a way to display 'incompatible address' if one user pasted a wrong address on the wallet client.
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Volumes on exchanges has since calmed down and the buying side seemed to have softened up too, so I don't think we will be seeing an extended version of this bull run unless the bulls have gotten some more steam and support from the community. At this point, the price has since subsided sub-$7000, though I'm pretty sure a lot of people have already made quite a fortune out of that crazy run towards $7400. I'm just afraid of the incoming correction since we rose like crazy over the past few weeks, but I think that's inevitable at this point.
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You could say that, but if that is indeed the truth this price rise is somewhat precarious in nature and someone made a lot of profit by using the long questioned Tether tokens. Personally I think Justin's move made a domino effecy, and if that $40M buy is true, most traders used it as a signal for themselves and collect profits as they please, too. Right now the reason for the rise is somewhat vague, though I don't think it's just Justin and Tether that is at play here.
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It seems that Liechtenstein already learned some lessons by studying the ill effects of ICOs on ogher countries who first started the trend. It's actually a great move considering that they already have a basis on their decision, moreso an actual figure to work with in order to draw a reasonable line for regulating the cryptospace and traditional investments. This is what should be done by other countries, checking all relevant parameters and figures set by those who already hopped in on the trend and try to use those numbers in order to come up with a better framework, not outright banning nor letting the market free from everything.
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It's not only the scammers but also the number of greedy and gullible people believing anything regarding false promises and exponential gains in just a few days/weeks. I guess it's pretty normal for any financial-related ecosystem to be plagued by scammers, and even in fiat you'll see numerous scams and con artists lingering around, no matter how hard and aggressive regulations are and how strict rules can be.
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Market cap is just the total value of all coins mined and nothing else. It does not hold a huge significance on our stride and can easily be changed once the price changed. For some, it signifies strength and dominance over the market, but personally I find it as an aimless metric something that can easily be manipulated at will. Nevertheless, it can still tell us something about growth and the current state of bitcoin, and reaching $200B is something that most people back then believed would take a long time to break once again.
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No one is ever permabear or permabull in reality. The moment the market changes conditions, they just follow the money and adjust accordingly. Also, predictions are mere predictions aided by mathematical tools devised by people in order to state what they think is going to happen, but that doesn't mean that it's going to happen so anyone can make wrong predictions and that's okay. Currently, market is very bullish, and even the two see that, and there's no point being a hypocrite if facts are already laid bare in front of your eyes.
If the bears switched sides already, it means that the bulls are currently winning this tug of war. A bear is never optimistic, and if it is, then something is definitely happening.
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The whole entity itself wouldn't be buying bitcoins directly and that is for sure, although we can't say much for the people under the said organization/entity as they still have different interests that may or may not be aligned with the federal banks'. Also, one can easily tell that they're not into it simply because they're busy tending their own thing (fiat and other financial services) and are doing the best they can in order for the fiat to not collapse any time sooner.
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Eh, stimulating the market yet again only to ultimately deny what they initially "reconsidered." This is a load of bull from the SEC and I don't think people are still believing whatever they release in regards to ETFs as they have initially rejected tons of applications that may have served the market in quite a great fashion. Well, the much awaited Bakkt is still in the sidelines as this is all happening, and even that has been lost into the oblivion and the media attention after the initial fund raising, too.
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Haven't heard of him or the service ever since. He basically went MIA after the shits happened in PBmining and everyone lost their money. I doubt that he's ever prosecuted too, knowing that there literally aren't any known legitimate dox of the guy and whether there are some cases filed against him. Ever since that site started back in 2014, it's already a red flag yet nobody even dared question the legitimacy of the said service and continued depositing their money anyway, ending in a not-so-sweet chapter for everyone involved.
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