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Author Topic: it is 7am in China now: USDT is your best friend  (Read 486 times)
stupid_seb
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September 14, 2017, 11:11:26 PM
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see you in a couple hours, with more BTC in our wallets :-)

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September 14, 2017, 11:38:12 PM
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you are so sure
hopefully it's true
but now the bitcoin is falling in price
I think BTC will also experience the same thing.

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stupid_seb
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September 14, 2017, 11:50:24 PM
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you are so sure
hopefully it's true
but now the bitcoin is falling in price
I think BTC will also experience the same thing.

Not sure about ANYTHING

I did NOT put 100% of my BTC in USDT. Only 25%.
I play the dip... maybe it will work, maybe not.

Betting on China weak hands panicking has proven to be a good tactic: So far my portfolio value in BTC is "only" -2% vs yesterday.

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September 14, 2017, 11:53:41 PM
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Speculators are claiming that the Chinese are spreading FUD in order to buy low.  Let's hope they're right and that this isn't going to be a full out ban by the Chinese government.

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September 15, 2017, 12:07:04 AM
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USDT is a huge risk, no thanks.

Ever read their fine print! 1 USDT is not a promised USD, no thanks.
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September 15, 2017, 12:10:38 AM
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Speculators are claiming that the Chinese are spreading FUD in order to buy low.  Let's hope they're right and that this isn't going to be a full out ban by the Chinese government.

Imho: there will not be a ban, but a strong regulatory context put in place. Maybe 50% of the Chinese exchange will have no other choice but to close for good. The rest will certainly have to close for a limited period, in order to make sure they can comply.

The result is: uncertainty on the Chinese market is leading to a massive withdraw of funds, hence a BTC price going down.
Most of the purge has been done from $3700 to $3200. Now it is time for the "average joe" (or average Wang) to wake up and withdraw his coins: People have no choice but to exit in order to avoid the risk of spoliation. (China = 30% of trading volume on BTC)
That is why we should see a rally towards $2,800 soon... I believe.

Once there... the purge is, again IMHO, done, and we can start again on solid grounds. Back on $3,000 thanks to the Westerners buying low... etc...

Some Chinese investors will hold their BTC on paper wallets, others will cas out... until the regulatory context becomes clearer.

Then we will all wait for a new announcement from the PBOC or exchanges regarding compliance to regulations.
Once done, we are back on track, and ready to hit $6,000 by the end of the year. EASY.

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September 15, 2017, 12:11:16 AM
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USDT is a huge risk, no thanks.

Ever read their fine print! 1 USDT is not a promised USD, no thanks.

you don't hold USDT... you trade it back and forth...
But sure: there is a risk if EVERYBODY goes towards USDT.

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September 15, 2017, 12:13:57 AM
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Its probably not the best strategy to sell when everyone else is panicking and selling. You can read the memoirs and guide of any investor book, all successful investors buy when the price is low. WE cna speculate all we want about the Chinese intentions, including creating a low entry point for themselves as they felt that they missed the boat.

The reality is that if you believe in the fundamentals of bitcoin and crypto, now is a good discount on prices that we are having. Do note that short USD (expecting USD to fall) is also one of the most crowded bank trade at the moment. Any USD related invesment is probably not the wisesest either.

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September 15, 2017, 12:25:40 AM
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USDT is a huge risk, no thanks.

Ever read their fine print! 1 USDT is not a promised USD, no thanks.

Who says you need to hold it for long? Short it while there is profit to be made and you're good to go.

Its probably not the best strategy to sell when everyone else is panicking and selling. You can read the memoirs and guide of any investor book, all successful investors buy when the price is low. WE cna speculate all we want about the Chinese intentions, including creating a low entry point for themselves as they felt that they missed the boat.

The reality is that if you believe in the fundamentals of bitcoin and crypto, now is a good discount on prices that we are having. Do note that short USD (expecting USD to fall) is also one of the most crowded bank trade at the moment. Any USD related invesment is probably not the wisesest either.

Yep, a basic fundamental and trading practice, except that nobody knows what will be the bottom that's why no one has dared to buy serious amounts yet. People will buy if China's stance on bitcoin has become clearer and whether or not we're ready to trade without them. 'Til then we'll just let the price tank even more until we're certain about something on this crazy market.

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