Bitcoin 2017 Price Rise was a Scam by Bitfinex using Tether(Fraud) - page 2.

dimastegar

sr. member

Activity: 798

Merit: 251

Small Trader

Quote from: btc_angela on November 04, 2019, 04:33:33 PM

Can we move on? It was 2 years ago and I don't know if it has some relevant this 2019.

Whether the price spike was done by Bitfinex or not, we have seen the effects already and we are looking forward for the next block halving as the catalyst for another bull run similar to 2017, no need to dwell in the past.

Yes, our main focus right now is halving next year. Given the decreasing reward for BTC miners by half, we can expect that the bull run could occur after halving as in the previous halving in 2016. But this is only my speculation. Hopefully what happens is better than what we expect.

btc_angela

hero member

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Can we move on? It was 2 years ago and I don't know if it has some relevant this 2019.

Whether the price spike was done by Bitfinex or not, we have seen the effects already and we are looking forward for the next block halving as the catalyst for another bull run similar to 2017, no need to dwell in the past.

Darooghe

sr. member

Activity: 1120

Merit: 255

It's a old new https://www.coindesk.com/study-claims-tether-props-bitcoins-price-in-market-downturns

I'm personally, skeptical that the Tether people would be crazy enough to keep up this scam after being subpoena'd by the SEC (~Dec 14th) which is why I'm not particularly worried. however we should stop using USDT. because every time major moves like 2017 peak happen there is negative headline news on Tether and Bitfinex. also the retail investors can't even convert USD to USDT themselves, and can't redeem USDT for USD, so it's not the same as USD. it seems every major crypto exchange and company doesn't want Tether to fail, knowing what will happen to their business if USDT collapses.

hello_good_sir

hero member

Activity: 1008

Merit: 531

Er... Not so sure about that, it feels like a shaky claim that doesn't have a lot of evidence. If they went to court right now, I would expect the case to be dismissed.

During that time there was a huge number of new investors for bitcoin and the bull run just feels like snowball effect combined with a shit ton of media attention.

Not sure what to think about Tether to be honest - they seen to have an odour if scams around them and it seems like the only news about it is controversial. I don't think it could be made out of thin air though.

PointHope

full member

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Quote from: Olaphash on November 04, 2019, 03:51:03 PM

That is, the whole 2017 bull run was faked. It's not hard for them because any amount of tether can be printed whenever they like.
If more manipulations like this continue to happen then, I think it's better for crypto to be regulated.

Regulated by who? Government? Federal Reserve? Commoditity futures? Bankster elites?
2017 was a commodity futures scenerio to kill Bitcoin. It failed!
Bitcoin is stronger today than it was in 2017.
The evolution of Bitcoin is continuing.
The fundamental strenghs remain.

gentlemand

legendary

Activity: 2590

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Welt Am Draht

There is a rather loud correlation between Bitfinex having problems and a bull run being ignited presumably to earn their way out of trouble. Once everyone else is up and running it becomes irrelevant.

I'd be fascinated to find out all those people turned away from exchanges and squealing all over Youtube were actors. It must've cost more than the profits 'he' made.

And no way is Tether pure thin air. That arrangement could last at best for a few days or weeks before imploding, not years. It might well have dodgy elements but its behaviour points to it being what it claims to be.

enhu

legendary

Activity: 2492

Merit: 1018

Single-handedly? If all of them the whales just do it as well this time, you can already picture how much BTC would be. We'd all be millionaires here and McAfee might not even such his dick if it happens <-- that's the sad part.

Tether has issues about this backing up with the USD they hold but should they also question few other Stablecoin? Bitfinex can probably produce the trillions of USD they have to back the ones in the blockchain and besides they already have disputed this claim.

Cryptopher

legendary

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Keep it dense, yeah?

Fake volume - 2013, fake this, fake that - 2017. It doesn't matter. These are merely catalysts that ensure that the general public are talkingg about crypto.

If your mother is talking to you about crypto, then you should have sold yesterday because that's probably when it is overbought.

Olaphash

member

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Merit: 10

That is, the whole 2017 bull run was faked. It's not hard for them because any amount of tether can be printed whenever they like.
If more manipulations like this continue to happen then, I think it's better for crypto to be regulated.

alyssa85

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

The claim is already being refuted:

https://www.newsbtc.com/2019/11/04/bitcoin-all-time-high-organic-not-single-whale-manipulation-says-vaneck-analyst/

Quote

However, Gabor Gurbacs, an analyst at fund management firm VanEck, refutes the study. He alleges that those behind it do not understand the Bitcoin market structure. Instead, he believes that no such manipulation took place and the epic price run that took Bitcoin just short of $20,000 was “organic”.

In late 2017, the mainstream media was going nuts for bitcoin, and the google searches for bitcoin also went crazy - indicating that a lot of ordinary people were interested. Coinbase had a huge surge of people opening accounts, as did the other exchanges - and all that interest is likely to be what pushed bitcoin from around $10,000 to $20,000

bitcoinposts

member

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Tether printing news circulated around the world for the claim of bitcoin all time high prices but still lot of research on air whether it is true or nt

Khaos77

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Flag Day ☺

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Topic: Bitcoin 2017 Price Rise was a Scam by Bitfinex using Tether(Fraud) - page 2. (Read 330 times)