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the_end_is_near:
Where are you currently posting besides BCT?
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hahahah Time for BTC to die? Get a grip.
He said BCT. Bitcointalk. |
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bitcoin is literally the most interesting market on the planet.
^calm before the storm==bitcoin price is about to explode up north with leaps and bounds you were never expecting!! :-D weeeee++ Why? What fundamentals have improved recently? Less new bitcoins to be found every 10 minutes. Like clockwork. That's not an improvement, it's always been like that. bitcoin is literally the most interesting market on the planet.
^calm before the storm==bitcoin price is about to explode up north with leaps and bounds you were never expecting!! :-D weeeee++ Why? What fundamentals have improved recently? The fundamentals of the fiat currencies you measure bitcoin price with are worse than ever. That is why the country that will lose the most urgently needs a war. If this were true, gold would be surging today. |
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bitcoin is literally the most interesting market on the planet.
^calm before the storm==bitcoin price is about to explode up north with leaps and bounds you were never expecting!! :-D weeeee++ Why? What fundamentals have improved recently? |
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Never looked into Tether. Seemed impossible on its surface. How is the peg maintained? Don't know, don't care - it is an inherent impossibility. Issue 1:1 ratio between Tether and USD held in reserve. In theory, settlements would result in USD passed to the customer, Tether passed back to the originator, then Tether being destroyed. |
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Alright JJG you're going back on ignore.
I've spent the last few months fighting back against BU trolls and explaining segwit to people, I join some others to express concern about the situation with finex and get labelled a "big block nut job."
Anyone with any real input want to weigh in on what's happening with finex? Is there any way to reliably withdraw USD out?
JJG is heavily invested in BTC and wants to profit, thus he cheerleads. Can't blame him, he's acting in his own best interest. You can withdraw CHF (Swiss Francs) and HKD (Hong Kong Dollars) from Bitfinex as an alternative to crypto withdrawals. All fiat deposits are suspended. |
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1) bitfinex situation is bad and USDT is tethered (lol) to that exchange for the most part so people are selling to get out with USDT since they can not do it with USD
Call me a dummy, but I do not understand this point. Does Bitfinex offer Tether? I have never seen that option on my Bitfinex account. If Bitfinex does not offer Tether, then how could people use Tether to move their funds out of Bitfinex? What am I missing? Bitfinex does not offer Tether. However, Tether and Bitfinex are owned by the same parent company. It's all moot, because Tether is effectively disconnected from the banking system until further notice. My hunch is the banks realized that Tether was basically running as an unregulated bank, like Liberty Reserve 2.0. Guilt by association, so the banks disconnect from Bfx as well (that part is speculation). The only way to get funds off Bitfinex is to buy BTC with fiat, which is why the price is so high. Similar situation with Polo since Tether is fucked right now. Interesting note, the legal statement at tether.to makes it very clear that Tether is under no obligation to convert tokens to USD. Bitfinex has been leading this rally for quite some time, so what happens now? |
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~$55 spread between Poloniex/BitFinex and Bitstamp/Coinbase. Normally, arbitrage would squash that kind of a spread. The only explanation I have is that there are withdrawal issues at Polo (we already know about BF issues) and/or deposit issues at Bitstamp and Coinbase. 2) the price of USDT tanked. it went down from $1 to $0.96 and that always increases the volume. and that is a 4% decline which is huge in something that is supposed to be worth a fixed $1 value.
Where did you see Tether tank to $0.96? |
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I think an underlying vulnerability in the exchange ecosystem right now is Tether, specifically its legality under banking laws in the various countries where exchanges are established and using Tether. Pegging an electronic token to the USD as a service to depositors is about as close as you can get to a bank without actually being a bank.
tether is simply irrelevant because it is not being uses as much as you think it is. the volume that it has indicates it very well. this is a new thing that i have been seeing you and a couple of rather newly created accounts are saying! and honestly i can't see how we can even start talking about USDT while there are a lot of other things wrong with these platforms that are much bigger. Where are you getting your tether volume data? Is that volume data the sole reason you claim that it is not "used as much as I think it is"? Also, are you suggesting that I'm a shill because I have a young account? |
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Solution is simple like it has always been. In times of war: pick the weakest country: bomb it, plunder it, rob its people. Leave it. And all countries can work on their next plan for the next 'war'. Weak I mean wealth/army ratio. Its just about the money like it always has been.
and WWII? |
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What's the solution? Let NK continue their nuclear weapon development until they have reliable worldwide nuclear strike capability?
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I think an underlying vulnerability in the exchange ecosystem right now is Tether, specifically its legality under banking laws in the various countries where exchanges are established and using Tether. Pegging an electronic token to the USD as a service to depositors is about as close as you can get to a bank without actually being a bank.
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Price is artificially inflated due to the inability to withdraw USD on finex. When this gets sorted out price is gonna drop, and then drop even more as people panic. Currently its providing a nice cushion for this little pull back which should in reality be larger than it currently appears.
Yup. This is precisely what happened during the rise and fall of Mt. Gox. |
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What in the hell is going on with Coinbase/GDAX right now?
OMG!!!!!!!!!!! It is called pre-announced scheduled maintenance. OMG!!!!!!!!!!! OMG!!!!!!!!!!! OMG!!!!!!!!!!!  No, it's called a colossal fuck-up that resulted in a flash crash on GDAX. |
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What in the hell is going on with Coinbase/GDAX right now?
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Let's make it clear that I don't want to hold LTC. I don't have many good choices right now for stability, so I had to choose something which might get payment scaling which might be considered good quality. What are my options? ETH? DASH? Come on. I hate all this shit. Bitcoin is becoming dominated by whales as the math insures it will. Yeah they have an incentive to protect the immutability of the protocol, but that does nothing to enable the knowledge age and bring value to us common men. And they are making the fucking ecosystem such a mess that it gives everybody a headache. The entire ecosystem is about speculation poker. And robbing Peter to pay Paul. And the manipulations are getting more and more bizarre. Mt. Gox was just a walk in the park compared to the sophistication of deceit being employed now. Well said. We're all standing in a cesspit of shitty cryptocurrencies being pushed by con-artists, whales, sociopaths and criminals. It is a microcosm of Wall Street. The sooner a Bitcoin killer comes along, the better. |
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I expect Ripple to collapse as the sovereign debt crisis goes into defaults probably next year.
Can you elaborate on this, or point to where you have already elaborated on this? What do you recommend people invest in outside of cryptocurrency right now? Seems like you're stuck with real estate, equities or bonds at the moment. I feel like there's far too much fiat chasing far too few correctly-priced investments. What's your take? |
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))
