 Show Posts
|
|
Pages: [1] 2 3 »
|
This will be a two part post. First will explain the Current Situation of Tether and market while the Second one will explain the Downsides of Tether and its Future Impact on the Crypto Market. Impending Tether Collapse Rumors are not new if you have been in the crypto space for a while. But, today was a little different. The crypto market and Bitcoin investors went in for a shock today, as Tether, a self-proclaimed “stablecoin,” fell 6% below its U.S. Dollar (USD) peg touching its ATL at $0.86 while shooting its competitor coins above $1.10. A USD-peg stable-coin touching that mark was both funny and disturbing situation. These are the few things that escalated the situation further: 1. FUD - Tether bank insolvency ( https://www.bitcoinforbeginners.io/cryptocurrency-news/usd-tether-noble-bank-insolvency-news/). 2. FUD - Bitfinex stopping USD deposits and withdrawals. Same goes for Kucoin USDT pair. 3. Fake Rumour - Binance delisting USDT. ( https://ethereumworldnews.com/reports-of-binance-delisting-tether-usdt-turns-out-to-be-fake-news/) 4. Bandwagon Effect - A Belief that everybody thought all USDT pairs are pumping because everyone wants to get out of USDT. Thus, I should also do the same. FUD related to Bitfinex and Kucoin got cleared after Bitfinex released the statement that they will open the deposits in next 24HRS ( http://twitter.com/bitfinex/status/1051750465782906880), or in case of Kucoin, already opened ( https://news.kucoin.com/en/usdt-deposits-and-withdrawals-are-now-enabled-2/). That Binance delisting FUD was fake though. We even saw someone circulating fake Binance USDT delisting notice. And last but not the least the typical Bandwagon effect we can always see in trading markets. Thus, Against the background of Tether fall, BTC and ETH were growing. But there is a significant difference in the rates between USD and USDT. At one point, the price spread between the value of Ethereum on Bitfinex and Coinbase surpassed 10%, which is nearly unheard of in the nascent crypto market. While USDT is one of the most liquid crypto assets in this market, the order books of the BTC/USDT trading pair couldn’t handle this unprecedented liquidation, resulting in Bitcoin’s unrelenting move above $7,500 on Tether-enabled exchanges. However, it is unlikely that this irrational price action will be sustained for an extended period of time. All you need to do, is the math behind 'premium' value of USDT supporting exchanges, against ones with real US dollars.(2/2) The UnTethering: Tether and its Impact on Future Crypto Market Collapse. Now, even though we have cleared the FUD regarding Tether, we don't mean that Tether won't eventually collapse. There is a strong likelihood of that happening. You can count the situation today as a cautionary bell for future Tether implosions. We highly recommend you use other stablecoins as much as possible for stability requirements. The next scandal is brewing as we speak. The only thing we don't know is when. So, Better safe than sorry. Here is a simple explanation for the same. Note: The idea behind this post isn't to create FUD, but to create awareness among the masses. Q. If tether's value goes to zero, but I have alt coins on binance, how would I lose some of my alt coins?A - The idea is that on first sight Tether doesn't seem like a very big coin. Sure, it's top 8, but there are bigger coins on Binance. However with a lot of coins their market cap on paper is not their "real" market cap, it's not a real value invested in those coins, so a $1 billion market cap coin might only have a $5 million of value that was actually invested in it. So if somebody sold $5 million worth of that coin, it would basically drop to zero and have no market cap (some people would obviously buy it up at that point just due to the opportunity but that's a different thing). So you have hundreds of coins on Binance, which combined on paper have a market cap of hundreds of billions of dollars, but the real value in them is maybe 5% of that. But with Tether every 1 USDT is actually 1 real dollar of value invested (obviously this is debatable, but that's the premise of tether). So you have $2.4 BILLION of REAL value against maybe $10 billion of real value with other coins (if we exclude BTC). So if Tether collapses and goes to zero, Binance suddenly doesn't have the money that it "technically" owes its users, because Tether is never supposed to be under $1, it's not treated as a traditional coin where if it goes down it's your fault. Meaning, If tether is trading at 97.5, it means that people think there is a 2,5% chance they will not be able pay you the $1 when you ask. That’s the risk you take with your strategy. So, Binance will likely halt all trading and moving of tether, and that will create bunch other problems. There will be massive outrage and there will be thousands of lawsuits. Simply put Binance will suddenly find itself in a position where they owe people $10 billion dollars, but they only hold coins worth $8 billion dollars, so they might be forced (either willingly or by law) to pay up and bail out the tether holders. But that might be debatable based on whatever the courts would decide at that point. Not to mention Binance (and just about every exchange out there) uses Tether for trading with other exchanges, and that could create a range of other issues. Tether claims that every Tether they print is backed by real US Dollar, but although their website claims that they are subject to frequent professional audit, this has never happened. There has been one incomplete audit (and some conflict of interest) back in June. So basically nobody knows if Tether is backed or if they are printing it from thin air. Thus, If tether collapses the entire market will break for YEARS. It might even be worse than Mt. Gox. Not to mention basically every exchange out there uses Tether and many people that have funds on these exchanges may lose portions of their funds or even all of it, even if they never touched tether. Thus, We need better stable coins, we can't rely upon a really shady currency propping up the market. There's starting to come better alternatives like Gemini, DAI and Paxos but they don't have enough circulation or volume to cater the needs of the crypto market. So, we need to carefully revisit our strategy and deliberate what's good of us in a long run. ___ Hope you will find this helpful See you in our telegram channel https://t.me/whatsoncryptohttps://t.me/cointified |
|
|
|
SEC Orders Temporary Halt Of Swedish Crypto ETNsAnother day. Another confusion. Another show of incompetence by media. Another dump.So, SEC announced the temporary suspension of trading in the securities Bitcoin Tracker One (“CXBTF”) and Ether Tracker One (“CETHF”) till 21 September 2018. Both of them are Exchange-Traded Notes (ETNs) that track Bitcoin (BTC) and Ether (ETH) respectively, and are issued by Swedish company "XBT Provider". Now, focus on the word "Temporary", "Swedish" and "ETNs" above. It was a temporary suspension for an ETN by a Swedish company. But, those legendary media houses came to rescue. As, none of them cared to mention either of these terms in their article's title. What they did, you ask? >Coindesk: SEC Suspends Exchange-Traded Bitcoin and Ether Investment Vehicles https://www.coindesk.com/us-regulators-suspend-bitcoin-and-ether-investment-vehicles/>Bitcoin.com - News: SEC Suspends Trading of XBT Provider’s Bitcoin Exchange-Traded Producthttps://news.bitcoin.com/sec-suspends-trading-xbt-providers-bitcoin-exchange-traded-product/) >Reuters: SEC halts trading in two cryptocurrency products, citing market confusionhttps://www.reuters.com/article/us-usa-cryptocurrency-sec/sec-halts-trading-in-two-cryptocurrency-products-citing-market-confusion-idUSKCN1LP0TW) >>Result: Blowing everything out of proportion, Redacting the most important info, creating unnecessary confusion and yes, a HUGE red candle too. Yeah, everything is fine. Perhaps, rather unsurprisngly, the crypto markets immediately reacted to these misleading titles. Even it never concerned the US, or any other country for that matter, we still got red. Anyways, the reason for this suspension given was "The Commission temporarily suspended trading in the securities CXBTF and CETHF because of confusion amongst market participants regarding these instruments." The "confusion amongst market participants" that the SEC is talking about probably refers to the fact that some unsophisticated retail investors may mistakenly think that these two products are equivalent to ETFs, which they are not. Content Credit: https://t.me/whatsoncrypto
|
|
|
|
When Andreas speaks, people listen.Andreas Antonopoulos, a BTCBitcoin advocate with a large following, uploaded a video on August 14 that outlined why an ETF on the cryptocurrency creates so much hype and, more importantly, why he doesn't like the idea. His main concerns are manipulation of price, governance, and politics of Bitcoin. A great explaination from Andreas on the implications of an ETF. According to Andreas,"Everybody's so excited about ETFs because, the price really increases dramatically as suddenly that commodity becomes available to a lot more investors and these investors pile on, but there's always these claims that the commodities markets are heavily manipulated and opening up these exchange-traded instruments only increases the ability of institutional investors to manipulate." A HIGHLY RECOMMENDED WATCH https://www.youtube.com/watch?v=KSv0J4bfBCc&feature=youtu.beContent Credit: https://t.me/cointifiedhttps://t.me/whatsoncryptoCointify and What's On Crypto - is building a Hub - One stop destination for Blockchain, Crypto & Visualizations about Money, In-depth Cost Guides and Tools.
|
|
|
|
An ETN (Exchange Traded Note) just bypassed the SEC approval process for ETFs! Americans can now buy spot bitcoin with their brokerage account.
> Here is an ELI5 version of the below article.
If you want to buy Bitcoin without actually buying Bitcoin, you now have another way to own it. Unlike exchange-traded funds, ETNs are debt instruments that are backed by their issuers -- often a bank -- rather than a pool of assets. An ETN doesn't buy and sell assets within the funds like an ETF. The issuing company (XBT Provider AB, a subsidiary of U.K.-based CoinShares Holdings) holds the underlying asset. In one way XBT Provider can be seen as a wallet service. For e.g. Whenever somebody buys for $100 fiat, the company buys Bitcoin and put them into storage (primarily, a cold storage). You cannot transact with your Bitcoins, but they are kept in storage as long as you do not sell your ETN-certificates. The risk is always there when using middlemen that the company could get hacked or the coins stolen by employees. The benefit is a super easy way to buy into Bitcoin with fiat, from your normal financial account and without extra registration or approvals. IMHO a ETN is very similar to an ETF when it comes to user friendliness. Credit: https://t.me/cointifiedhttps://t.me/whatsoncryptohttps://www.msn.com/en-us/finance/companies/lovelorn-us-bitcoin-etf-fans-may-find-satisfaction-in-sweden/ar-BBLY95t
|
|
|
|
This chart is pure crap, in no way are we seeing 10millipn a btc any time close to soon, even a million a btc seems way too far fetched for 8 years from now. The good thing on this chart is to look at the price history and where it is moving. In long term obviously. Secondly, it provides information about Rewards Halving which is good for newbies to know. If it looks "crap" to you then for some people it is a vision to see which trend bitcoin is moving, or, crawling in long term. Yes, 10mln bitcoin is something you dont see it now, who knows, someday they will start moving.. We know the history of those 10mln. We, What's On Crypto Team worked hard to bring this to you and crypto fans at this bear fearful market. calling it crap, is not appreciated, altho you can share your thoughts freely. If nothing else to add, just walk away.. |
|
|
|
If you’re new to the world of crypto, the following infographic guide is a great way to get started. It covers all the basics! Credit: https://t.me/howmuch_net******************************  |
|
|
|
So, the ETFs are delayed. Yet again. It comes as no surprise since we all were expecting the same. Yet the market dumped hard. You might have seen a correlation between the acknowledgement of Bitcoin by centralized organizations and the market reaction on it. We still remember in 2016 or even 2017, when people gave a middle finger to regulation and institutions. Now everyone is begging and waiting for government approval. What a move huh?
We understand how much community perceives the importance of ETFs in Crypto but allow us to enlighten you, WE DON’T NEED THEM, INSTEAD, THEY NEED US. But, apparently, we are getting influenced by the same thing we swore to decimate in the first place. Yes, we are talking about centralized organizations and our strong craving for their acknowledgement. So, stop holding your breath and focus on what’s important for a true decentralized world.So, stop holding your breath and focus on what’s important for a true decentralized world. Also, Regarding the ETFs. Do not expect SEC decision on the CBOE (VanEck-SolidX) Bitcoin ETF in 2018, so don’t hold your breath.
We see people being disappointed about the SEC delaying the decision on the ETF from VanEck-SolidX when actually nobody should have expected the SEC to approve the first-ever Bitcoin ETF within the first 45 days after the notice was published. Everybody should be aware that the SEC will and should take the time it is allowed to by law, which is 240 days (45 days for the first and second extension, 90 for the third, 60 for the last). What to expect now:1. News about rejected ETFs likely in late August (link Proshares ETF) 2. Another series of news about Bitcoin ETF rejection in September (link Direxion ETF) 3. Both of the above ETFs are not commodity-backed (instead, they’re futures, at least the Proshares for sure) and thus, do not involve actually purchasing BTC. They could also be approved, but we don’t think that’s likely. 4. The final decision on the CBOE (VanEck-SolidX) somewhere around February-March 2019. Credit: https://t.me/whatsoncryptohttps://t.me/howmuch_nethttps://t.me/cointified |
|
|
|
Forbes recently released a list of the world’s richest individuals in terms of cryptocurrency. There are currently 19 people in the world who own an equivalent of more than $350 million in crypto assets. The top owners of cryptocurrency in the world amassed their wealth in a variety of ways, but most are founders of large cryptocurrency projects and cryptocurrency exchange platforms. Others are either individual investors or part of investment groups and some have established very profitable cryptocurrency mining operations. The one thing that the richest in crypto have in common is that they are all the types to “HODL” (hold on for dear life), meaning that they hold on to their cryptocurrency through any downturns in the market and aren’t quick to make crypto-to-crypto or crypto-to-fiat trades. Credit: https://t.me/howmuch_nethttps://t.me/whatsoncrypto |
|
|
|
The Multi-Billion Dollar ICO Market in 2018 Captured in One Graph. The ICO market is continuing to sizzle this summer with new coins entering the market almost everyday. With so much activity, it can be difficult to keep things in perspective. What constitutes a large initial coin offering, and what’s small peanuts? Our new visualization makes things very simple. Top 10 Biggest ICOs in 2018 1. Telegram: $1.7B 2. Dragon: $320M 3. Huobi: $300M 4. Bankera: $150.9M 5. Orbs: $118M 6. Envion: $100M 7. Flashmoni: $72M 8. Neuromation: $71.7M 9. Elastos : $70M 10. Zeepin : $61M Credit: https://t.me/howmuch_nethttps://t.me/whatsoncrypto |
|
|
|
Is Cryptocurrency ‘The Mother of all Bubbles’? This Visualization Puts Things in Perspective. The sheer magnitude of how much money there is in the world can be quite staggering—and hard to understand. What if you could visualize every market in the world as a bubble? Credit: https://t.me/whatsoncrypto |
|
|
|
Hi All, Thank you for your interest in this giveaway. This is our 2nd giveaway and we are excited. Before all, we want to thank you for your interest in What's On Crypto Channel and we are doing our best to let Crypto Fans stay updated of the happenings in crypto world. So let's begin the giveaway. As you know, there is 0.05 BTC giveaway and is divided into 5 phases. Each phase will have its own winner. The subject of the give away is: - Be creative - or write a poem - or draw something - or create anything that you think will describe What's On Crypto Channel in your own words and share it on *Telegram groups (if any) *Twitter *Facebook or any other place where you think people should hear about What's On Crypto. *Make sure that your work includes https://t.me/whatsoncrypto link. Once you have done so, submit your work using the Google form link below: https://goo.gl/forms/okVCTpRKIGZcAeUI3and/or upload a file with a link so Admins could check your work. Remember to put your social media profiles in public so we can check your work. The best work will be selected and will be voted by What's On Crypto Telegram Members. The higher vote received, will be awarded 0.01 BTC for this 1st phase. You can participate in all 5 phases, meaning, you have 5 chances. Try your best and be the best. Most important, be the winner!!! Good luck! Don't forget to follow us on Twitter: https://twitter.com/wo_cryptoNOTE: Only What's On Crypto Channel Members can participate. If you haven't joined, please do so. Channel: @whatsoncrypto If you have questions, ask us in @whatsoncryptoofficial Thank you, What's On Crypto Team. |
|
|
|
Dear Valued Members, As promised, we will begin the 0.05 giveaway, phase 1 Monday. The instructions will be posted at https://t.me/woc_giveaway. Make sure to join and stay tuned. Thank you, What's On Crypto Team. |
|
|
|
Dear Valued Members, As promised, we will begin the 0.05 giveaway, phase 1 Monday. The instructions will be posted at https://t.me/woc_giveaway. Make sure to join and stay tuned. Thank you, What's On Crypto Team. |
|
|
|
Dear Valued Members, As promised, we will begin the 0.05 giveaway, phase 1 Monday. The instructions will be posted at https://t.me/woc_giveaway. Make sure to join and stay tuned. Thank you, What's On Crypto Team. |
|
|
|
Dear Valued Members, As promised, we will begin the 0.05 giveaway, phase 1 Monday. The instructions will be posted at https://t.me/woc_giveaway. Make sure to join and stay tuned. Thank you, What's On Crypto Team. |
|
|
|
Dear Valued Members, As promised, we will begin the 0.05 giveaway, phase 1 Monday. The instructions will be posted at https://t.me/woc_giveaway. Make sure to join and stay tuned. Thank you, What's On Crypto Team. |
|
|
|
WOW! Cryptocurrency VS Visa Transaction per second (TPS) comparison. It looks like, Lightening Network could beat VISA if more nodes are connected and are 100% running. We have collected this information randomly from Crypto fans. If we missed something, please comment back. As always, credit: What's On Crypto https://t.me/whatsoncrypto   |
|
|
|
Visualizing the Bitcoin ETF from Gold ETF history. The infographic compares GOLD ETF with Bitcoin ETF (if approved) and how ETF could impact Bitcoin. It is clear to see that there should be some pump if ETF is approved as looking at the GOLD chart history, after ETF it just skyrocketed. Also, would appreciate if you support us and retweet this infographic from twitter https://twitter.com/wo_crypto/status/1020186956637057024Credit: https://t.me/whatsoncrypto |
|
|
|
|
