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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25493439 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (158 posts by 14 users with 9 merit deleted.)
jonoiv
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October 15, 2018, 02:06:18 PM

maybe Kucoin has their own vested intenrest in feeding the tether fud.  

Precisely.  It's all whale games.

Give this man a new hat.  

wich one, i got a few hat's.



ill take the red hat for now thanks, that's the hat not the candle colour.
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October 15, 2018, 02:10:10 PM

Anybody mind explaining to me how tether works and how it's relevant to bitcoin price at all?
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October 15, 2018, 02:15:44 PM
Merited by jbreher (1)

It hit 50 cents on Polo v USD Circle



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October 15, 2018, 02:19:39 PM
Merited by bones261 (2), bitcoincidence (1), RejectedBanana (1)


Anybody mind explaining to me how tether works and how it's relevant to bitcoin price at all?

1. There is a blockchain that is unlike any other in that it has no protocol defining the coin supply automatically. It just gets added to manually on an arbitrary basis by a human being

2. The ability to do this is under the exclusive power of a private company registered in the Cayman Islands with a couple or more private shareholders

3. There is a notional idea that the amount of coin supply represents the amount of "real" $USD that is sent to the bank accounts of that company registerred in the Cayman Islands. But this is simply an unverifiable fairy tail as far as regular traders and observers are concerned

HOW IT AFFECTS BITCOIN

1. Many of the biggest exchanges in the world that quote "USD" prices for bitcoin are actually trading bitcoin against this "synthetic blockchain dollar" as opposed to real bank deposits

2. In particular, the largest exchange in the world (is it ?) - or one of them, Bitfinex

3. Bitfinex also happens to be owned/run by the same owners of the Cayman Islands company that produce the "fake" dollars, So this would effectively allow them to create any amount of liquidity for nothing on the USD side of the trade and buy of the bitcoin on their own or other exchanges, thereby creating hugely artificial market pumps/dumps. We do in fact see Bitfinex leading the price in a lot of pumps as we did today

4. There are some well researched articles showing that the Bitfinex/USD Tether operation has essentially been responsible for the ENTIRE price rise in bitcoin right from $180 to where we are today
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October 15, 2018, 02:22:01 PM
Merited by suchmoon (4), infofront (1), HairyMaclairy (1)

maybe Kucoin has their own vested intenrest in feeding the tether fud.  

Precisely.  It's all whale games.

Give this man a new hat.  

 


edit:


Edit: trying to post from my phone... sorry no proper image tools

Good good .... Then for once you can’t outperform all the rest Grin

 I'm home Wink
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October 15, 2018, 02:42:35 PM
Merited by Dunkelheit667 (1)


Anybody mind explaining to me how tether works and how it's relevant to bitcoin price at all?

1. There is a blockchain that is unlike any other in that it has no protocol defining the coin supply automatically. It just gets added to manually on an arbitrary basis by a human being

2. The ability to do this is under the exclusive power of a private company registered in the Cayman Islands with a couple or more private shareholders

3. There is a notional idea that the amount of coin supply represents the amount of "real" $USD that is sent to the bank accounts of that company registerred in the Cayman Islands. But this is simply an unverifiable fairy tail as far as regular traders and observers are concerned

HOW IT AFFECTS BITCOIN

1. Many of the biggest exchanges in the world that quote "USD" prices for bitcoin are actually trading bitcoin against this "synthetic blockchain dollar" as opposed to real bank deposits

2. In particular, the largest exchange in the world (is it ?) - or one of them, Bitfinex

3. Bitfinex also happens to be owned/run by the same owners of the Cayman Islands company that produce the "fake" dollars, So this would effectively allow them to create any amount of liquidity for nothing on the USD side of the trade and buy of the bitcoin on their own or other exchanges, thereby creating hugely artificial market pumps/dumps. We do in fact see Bitfinex leading the price in a lot of pumps as we did today

4. There are some well researched articles showing that the Bitfinex/USD Tether operation has essentially been responsible for the ENTIRE price rise in bitcoin right from $180 to where we are today


Having said that they do claim to have proven the funds and even if tether is worth 0, it still only accounts for only 2.1% of the total market cap of bitcoin, so appart from the FUD value, it's relitivly meaningless.
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October 15, 2018, 02:53:23 PM
Merited by JayJuanGee (1), d_eddie (1)


Anybody mind explaining to me how tether works and how it's relevant to bitcoin price at all?

1. There is a blockchain that is unlike any other in that it has no protocol defining the coin supply automatically. It just gets added to manually on an arbitrary basis by a human being

2. The ability to do this is under the exclusive power of a private company registered in the Cayman Islands with a couple or more private shareholders

3. There is a notional idea that the amount of coin supply represents the amount of "real" $USD that is sent to the bank accounts of that company registerred in the Cayman Islands. But this is simply an unverifiable fairy tail as far as regular traders and observers are concerned

HOW IT AFFECTS BITCOIN

1. Many of the biggest exchanges in the world that quote "USD" prices for bitcoin are actually trading bitcoin against this "synthetic blockchain dollar" as opposed to real bank deposits

2. In particular, the largest exchange in the world (is it ?) - or one of them, Bitfinex

3. Bitfinex also happens to be owned/run by the same owners of the Cayman Islands company that produce the "fake" dollars, So this would effectively allow them to create any amount of liquidity for nothing on the USD side of the trade and buy of the bitcoin on their own or other exchanges, thereby creating hugely artificial market pumps/dumps. We do in fact see Bitfinex leading the price in a lot of pumps as we did today

4. There are some well researched articles showing that the Bitfinex/USD Tether operation has essentially been responsible for the ENTIRE price rise in bitcoin right from $180 to where we are today


Having said that they do claim to have proven the funds and even if tether is worth 0, it still only accounts for only 2.01% of the total market cap of bitcoin, so appart from the FUD value, it's relitivly meaningless.

They've surely had enough USD to back the USDT in circulation at certain points. At other points in time, they probably haven't. This is why they were able to get a law firm to sign a letter basically saying "they have enough money to back all the USDT at the moment," yet accounting firms run away in horror as soon as they see Tether's books.
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October 15, 2018, 04:05:12 PM


Start of a Bart...looks like a Nessie...
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October 15, 2018, 04:22:39 PM

LOL

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October 15, 2018, 04:23:24 PM

maybe Kucoin has their own vested intenrest in feeding the tether fud. 

Precisely.  It's all whale games.

Give this man a new hat. 

 


edit:


Edit: trying to post from my phone... sorry no proper image tools

Good good .... Then for once you can’t outperform all the rest Grin

 I'm home Wink


haha noticed immediately Grin   nice what you've done with that hat btw  Grin
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October 15, 2018, 04:32:48 PM
Last edit: October 15, 2018, 04:42:49 PM by Raja_MBZ
Merited by xhomerx10 (1), JayJuanGee (1), Torque (1), El duderino_ (1), RejectedBanana (1)

Fidelity, the $2.5 trillion Wall Street giant, is launching a brand new institutional brokerage and custody business for crypto

https://theblockcrypto.com/2018/10/15/fidelity-the-2-5-trillion-wall-street-giant-is-launching-a-brand-new-institutional-brokerage-and-custody-business-for-crypto/

Fidelity Launches Institutional Platform For Bitcoin And Ethereum

https://www.forbes.com/sites/michaeldelcastillo/2018/10/15/fidelity-launches-institutional-platform-for-bitcoin-and-ethereum/#5319f43f93c4

Fidelity just made it easier for hedge funds and other pros to invest in cryptocurrencies

https://www.cnbc.com/2018/10/15/fidelity-launches-trade-execution-and-custody-for-cryptocurrencies.html

Quote
Fidelity Investments, which administers more than $7.2 trillion in client assets, announced a new and separate company called Fidelity Digital Asset Services Monday.

Okay, this is very bullish.
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October 15, 2018, 04:49:54 PM


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October 15, 2018, 04:51:23 PM
Merited by cAPSLOCK (5)

^^

Did i saw “this is veryvery bullish? “

+50% of de smerit stash
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October 15, 2018, 04:57:37 PM

Fidelity, the $2.5 trillion Wall Street giant, is launching a brand new institutional brokerage and custody business for crypto

https://theblockcrypto.com/2018/10/15/fidelity-the-2-5-trillion-wall-street-giant-is-launching-a-brand-new-institutional-brokerage-and-custody-business-for-crypto/

Fidelity Launches Institutional Platform For Bitcoin And Ethereum

https://www.forbes.com/sites/michaeldelcastillo/2018/10/15/fidelity-launches-institutional-platform-for-bitcoin-and-ethereum/#5319f43f93c4

Fidelity just made it easier for hedge funds and other pros to invest in cryptocurrencies

https://www.cnbc.com/2018/10/15/fidelity-launches-trade-execution-and-custody-for-cryptocurrencies.html

Quote
Fidelity Investments, which administers more than $7.2 trillion in client assets, announced a new and separate company called Fidelity Digital Asset Services Monday.

Okay, this is very bullish.

This is the first Real bullish news in a while  Smiley I'm happy to see some movement, people unable to deposit and buy bitcoin is bullish too
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October 15, 2018, 05:00:59 PM

4. There are some well researched articles showing that the Bitfinex/USD Tether operation has essentially been responsible for the ENTIRE price rise in bitcoin right from $180 to where we are today


Having said that they do claim to have proven the funds and even if tether is worth 0, it still only accounts for only 2.1% of the total market cap of bitcoin, so appart from the FUD value, it's relitivly meaningless.

I don't understand why people continue to make this argument as if it's significant.

2% of bitcoin's marketcap is HUGE and easily enough to control the entire market, since only a tiny proportion bitcoin's supply is ever to be found on orderbooks. The significant ratio is not Tether Marketcap/Bitcoin marketcap but Tether Marketcap/Bitcoin Orderbook size.

Anyway, it doesn't matter. Just the fact that there's an arbitrarily controlled counterfeit money supply that requires no backing, is supported by the biggest exchanges, and is created at will by a private entity in the Cayman Islands is easily enough to scam the entire industry and implode the market if and when it goes tits up.

Here in fact is the "MT Gox" effect right in front of our faces:


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October 15, 2018, 05:10:46 PM

Son, they shook
Cause ain't no such things as halfway crooks
Scared to death, scared to look at their fucking orderbooks, they shook
Cause ain't no such things as halfway crooks
Scared to death, scared to look at their fucking orderbooks
Living the live that of diamonds and guns
There's numerous ways you can choose to earn funds


Tether and Bitfinex, Shook ones, Mobb Deep
Fuck usdt, fuck bear, long live the 90’s
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October 15, 2018, 05:30:03 PM
Merited by Icygreen (1)

4. There are some well researched articles showing that the Bitfinex/USD Tether operation has essentially been responsible for the ENTIRE price rise in bitcoin right from $180 to where we are today


Having said that they do claim to have proven the funds and even if tether is worth 0, it still only accounts for only 2.1% of the total market cap of bitcoin, so appart from the FUD value, it's relitivly meaningless.

I don't understand why people continue to make this argument as if it's significant.

2% of bitcoin's marketcap is HUGE and easily enough to control the entire market, since only a tiny proportion bitcoin's supply is ever to be found on orderbooks. The significant ratio is not Tether Marketcap/Bitcoin marketcap but Tether Marketcap/Bitcoin Orderbook size.

Anyway, it doesn't matter. Just the fact that there's an arbitrarily controlled counterfeit money supply that requires no backing, is supported by the biggest exchanges, and is created at will by a private entity in the Cayman Islands is easily enough to scam the entire industry and implode the market if and when it goes tits up.

Here in fact is the "MT Gox" effect right in front of our faces:




Your fear is well founded.

But Bitcoin is stronger and more important than Tether.  Tether going tits up as you say would have a significant negative impact.  But I think it would be less than the impact of Gox in the past.

Bitfinex and their USDT should be shaking in their boots with Fidelity, Bakkt etc coming on board.  The tiddlywinks days of shady exchanges and monopoly money are coming to and end.

With fireworks?  Maybe.  But it might not matter in the end.  The things that are coming will dwarf all this in the end.
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October 15, 2018, 05:33:50 PM

Most people voted $6,500-$7,000 in the poll, and we're still below that... smh...

BELOW 6,5k     i migt have some powder in my eyes

Above 7k and I will have powder in my nose.
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October 15, 2018, 05:53:10 PM
Merited by JayJuanGee (1)


Anybody mind explaining to me how tether works and how it's relevant to bitcoin price at all?

1. There is a blockchain that is unlike any other in that it has no protocol defining the coin supply automatically. It just gets added to manually on an arbitrary basis by a human being

2. The ability to do this is under the exclusive power of a private company registered in the Cayman Islands with a couple or more private shareholders

3. There is a notional idea that the amount of coin supply represents the amount of "real" $USD that is sent to the bank accounts of that company registerred in the Cayman Islands. But this is simply an unverifiable fairy tail as far as regular traders and observers are concerned

HOW IT AFFECTS BITCOIN

1. Many of the biggest exchanges in the world that quote "USD" prices for bitcoin are actually trading bitcoin against this "synthetic blockchain dollar" as opposed to real bank deposits

2. In particular, the largest exchange in the world (is it ?) - or one of them, Bitfinex

3. Bitfinex also happens to be owned/run by the same owners of the Cayman Islands company that produce the "fake" dollars, So this would effectively allow them to create any amount of liquidity for nothing on the USD side of the trade and buy of the bitcoin on their own or other exchanges, thereby creating hugely artificial market pumps/dumps. We do in fact see Bitfinex leading the price in a lot of pumps as we did today

4. There are some well researched articles showing that the Bitfinex/USD Tether operation has essentially been responsible for the ENTIRE price rise in bitcoin right from $180 to where we are today


There is also a campaign of mis-information and FUD surrounding Tether for the last year, some people appear to have a vendetta against Bitfinex and tether.
The evidence provided to show that Tether is a fraud doesn't stand up to scrutiny.
The more mud that is thrown, the more fools seem to jump on the anti-tether narrative. But there is almost no real evidence!!!

I'm not claiming it is or isn't true. Tether have failed to prove they have the dollar backing for every tether in existence, and this is clearly an issue,  but it is not hard to imagine reasons why they are not able to perform a full audit. Detailing where the $2.5 Billion dollars are actually located will no doubt open them up to fund freezing by a number of countries.

Caution is essential, but keep the risk in perspective, Bitfinex and Tether have a reputable history.
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October 15, 2018, 05:55:10 PM

NEW CNBC: Financial services giant Fidelity takes big step into cryptocurrencies, announcing the launch of Fidelity Digital Asset Services, which will handle cryptocurrency custody and trade execution for institutional investors.

Article : https://www.cnbc.com/2018/10/15/fidelity-launches-trade-execution-and-custody-for-cryptocurrencies.html

Fidelity ==> 7.2 trillion  Cool
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