Bitfinex starting to get isolated. You know the jig is up when there is a $2k gap between Coinbase and Bitfinex.  Or when the arb between Bitfinex and Bitstamp collapses.   


USDT at 97.5 cents on Kraken.  Peg under pressure.  George Soros would love this shit.  

Crypto is full of dumb money that doesn’t understand that the auditor quitting means Tether is swimming naked.  I am starting to think this is not a big enough catalyst to cause the herd to run to the exits.  Or maybe this is a slow trickle leak in the dam face, who knows.

Some people are exiting Tether.  Not everyone by any means.

I do believe part of this pump is people leaving Bitfinex.  I have mostly exited Bitfinex now. 

USDT momentarily dropped to 93 cents on Kraken and then back up to 97 cents. I think there must be a roaring arbitrage play going on here. 

Hmmm let’s watch the Kraken USD USDT pair closely.  This may explain BFX rally.






Edit:   Link to article here:  https://www.coindesk.com/tether-confirms-relationship-auditor-dissolved/amp/?__twitter_impression=true

It is fairly obvious that if Bitfinex fired the auditor, they would have said so.  Accordingly we have to assume the auditor has quit. Which probably means Tether has gone bad.  Hang onto your pants boys and girls - this could get a little volatile.

Yes it’s live in main net. No, it’s not really ready.

Open source software is dangerous.  There is no central authority to hold your hand. 

Bullish



image upload

It was a single account that spent US$37 million in fees sending tiny transactions to itself every second. 

Who else would spend that sort of money to accomplish nothing ?

1 satoshi seems a more appropriate value for BCC.

I dunno.  Does the excitement end when you go to bed?

Excitement over.  Everyone go back to bed.

It is strictly optional.  You can completely ignore it if you like.

I’m on mobile.  What’s a break out ?  11,500?

Keep in mind those TX could be the mother of all dumps too

We are on $11,400. 

I think so.  

Now I’m a high lert.

I’m alert

Tera what would consider to be good volume? 

It’s too much land for any one company. My guess is they are developers building a blockchain city.

A question for my esteemed colleagues. Is there a relationship between men pool size and price? If yes, is mempool a leading or trailing indicator of price?

What about EtherDelta?  I guess they can block them too?

Mt Gox was 80% of the market back then. 

Maybe a bit less than 2 BTC. I heard the entire network was running 7 BTC total.