TERA2
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Deb Rah Von Doom
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January 28, 2018, 09:01:54 AM |
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Isnt a tether failure bullish for bitcoin? Kind of like a fiat failure?
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jojo69
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diamond-handed zealot
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January 28, 2018, 09:05:49 AM |
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Isnt a tether failure bullish for bitcoin? Kind of like a fiat failure?
well yeah, eventually first though it would be a media shitstorm, another major exchange turns out to be fraudulent, doubleplusungood short term
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conspirosphere.tk
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Bitcoin is antisemitic
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January 28, 2018, 09:10:04 AM |
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Can anyone give me a hint why GDAX has been the bearish exchange the last couple of days? Could this be a signal that many of their users are making their exit via fiat? Coinbase can be a rather convenient way to do this.
Maybe because some futures depend on it? https://www.investing.com/currencies/cboe-bitcoin-futures
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HairyMaclairy
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Degenerate bull hatter & Bitcoin monotheist
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January 28, 2018, 09:25:55 AM Last edit: January 28, 2018, 09:37:42 AM by HairyMaclairy |
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Isnt a tether failure bullish for bitcoin? Kind of like a fiat failure?
well yeah, eventually first though it would be a media shitstorm, another major exchange turns out to be fraudulent, doubleplusungood short term 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.
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starmman
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January 28, 2018, 09:46:26 AM |
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Isnt a tether failure bullish for bitcoin? Kind of like a fiat failure?
well yeah, eventually first though it would be a media shitstorm, another major exchange turns out to be fraudulent, doubleplusungood short term 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. I'm glad a never traded in USDT - but thinking about getting in for the arbitrage - maybe a bit risky though...
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Karartma1
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January 28, 2018, 10:17:59 AM |
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I am trying to avoid anything that can be printed and/or created out of thin air (i.e. fiat money, tether, whatever) Do you know there's a thing called bitcoin? I'll stick to that
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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January 28, 2018, 10:26:02 AM |
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Whenever I hear a bunch of exuberant comments about trains etc I know a brutal bulltrap is coming
Tera Beara, we don't give a ratt's ass. (Nothing personal. I couldn't resist.) hahahahahahaa She's not very convincing with her repeated themes, is she?
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pacman7331
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January 28, 2018, 10:48:50 AM |
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$200 spread now between GDAX and Bitstamp & Bitfinex. Kraken and Gemini are finding middle-ground.
WTF Coinbase ?!
They want some paper money!
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TERA2
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Deb Rah Von Doom
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January 28, 2018, 10:57:53 AM |
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coinbase arb gap to the moon
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HairyMaclairy
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coinbase arb gap to the moon
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.
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realr0ach
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#TheGoyimKnow
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January 28, 2018, 11:10:33 AM |
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*Edit - Volume is also lowest it's been for a long time. Down to 11,500BTC over last 24 hours.
Can you not steal people's jobs. It is Tera's duty to stare at the volume meter.
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Last of the V8s
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Be a bank
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January 28, 2018, 11:13:13 AM |
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Samarkand
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January 28, 2018, 11:28:01 AM Merited by Dabs (2), yefi (1) |
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How high will the BTC/USD price go at Bitfinex when all people will try to buy Bitcoin in order to get their funds off the exchange? This could provide us with a crazy BTC/USD price rise (at least temporarily) if this is indeed the end of Bitfinex and Tether. I remember that some people floated the theory that parts of the recent Litecoin price run-up where caused by people, who wanted to withdraw from exchanges in a reasonable timeframe during the recent Bitcoin network congestion and therefore bought LTC with their funds. This encouraged new investors, who saw the LTC/USD price gains and piled their funds into Litecoin, which also increased media coverage, which resulted in even more investors. This could get really crazy if this is indeed the end of Tether. Never a dull day in Bitcoin land
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HairyMaclairy
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January 28, 2018, 11:34:24 AM |
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That’s the 1BTC question isn’t it. Will Tether FUD create a pump? It looks like it is doing that right now. Except someone has to pay the piper at the end.
The brutal part is, a pump makes it worse due to FOMO out of Tether into crypto.
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Samarkand
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January 28, 2018, 11:40:29 AM |
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That’s the 1BTC question isn’t it. Will Tether FUD create a pump? Even if it does, someone has to pay the piper at the end.
Wouldn´t a removal of bad actors (let´s assume that Tether is indeed a fraudulent operation and not legit for the sake of argument) from the Bitcoin ecosystem be a good thing for the long-term future of Bitcoin? If the big nefarious actors (e.g. fraudulent exchanges) are removed from the market this would increase the likelihood of the approval of things like a Bitcoin ETF or even better news like the inclusion of Bitcoin into the SDR basket of the IMF. Besides, this could allow a user like BobLawblaw to retire with a much bigger nest egg if this pushes Bitcoin above the 25000 $ threshold (or even higher) temporarily. This of course assumes that other exchanges will still follow the price rise of the BTC/USD trading pair of Bitfinex to some extent (e.g. due to arbitrage bots).
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HairyMaclairy
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January 28, 2018, 11:41:35 AM |
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Long term yes it’s good, we need to flush bad actors. Short term it might sting a bit.
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TERA2
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Deb Rah Von Doom
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January 28, 2018, 11:42:52 AM |
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How high will the BTC/USD price go at Bitfinex when all people will try to buy Bitcoin in order to get their funds off the exchange? This could provide us with a crazy BTC/USD price rise (at least temporarily) if this is indeed the end of Bitfinex and Tether. I remember that some people floated the theory that parts of the recent Litecoin price run-up where caused by people, who wanted to withdraw from exchanges in a reasonable timeframe during the recent Bitcoin network congestion and therefore bought LTC with their funds. This encouraged new investors, who saw the LTC/USD price gains and piled their funds into Litecoin, which also increased media coverage, which resulted in even more investors. This could get really crazy if this is indeed the end of Tether. Never a dull day in Bitcoin land Wouldn't ETH be better than LTC for that? I wonder if that's why ETH is still rising now.
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Samarkand
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January 28, 2018, 11:46:29 AM |
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... Wouldn't ETH be better than LTC for that? I wonder if that's why ETH is still rising now.
This was just a rumor that was spread by some people. It was also during the peak of Bitcoin network congestion with 200k+ unconfirmed transactions. I could be wrong, but I remember that the Ethereum network had similar problems with congestion during this time due to stuff like CryptoKitties? I think there is at least a bit of truth to the rumor, because using LTC you could cash out your whole balance from an exchange for less than 1 $ while Bitcoin confirmation times and transaction fees were through the roof due to the spam attacks by the nefarious actors from the BCH fan club. edit: I should clarify that I was talking about a period of time that was a few weeks ago and not any current price action
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HairyMaclairy
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January 28, 2018, 11:50:57 AM |
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Bitfinex has a minimum withdrawal of 0.02 BTC meaning you can’t withdraw small amounts in BTC.
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