Topic: HODLers or Tether - who do we blame? - page 2. (Read 398 times)

the problem with most people is that they want to blame someone else for the mistakes they make. this is always intensified during the drops like this. manipulation has existed forever and it is not just for bitcoin! the thing is, it is never as big as people show it to be.

not just that, but if you know there is manipulation then why not take advantage of it? for example if you think Tether is the reason for the rise then why did you buy bitcoin? greed or ignorance? or if you think it is HODLers or whatever who are dumping the price then why don't you buy bitcoin now? more greed or idiocy?

I see your point and I agree. But what about the allegations that they used to be issuing USDT when the price of BTC was down (most of the time) and were then buying cheap BTC. I have no idea how the things with Tether work, I mean, who decides if they will "print" more USDT, when, and how.

This is an interesting point I've never really considered. Is there an estimate of what the margins for the miners are? If the average cost to mine 1 bitcion is really between $6K and $9K, some of them are currently mining at a loss. 

I think all this is just about manipulation, no one can be blamed for fall in price of Bitcoin. Everyone is trying to be on safe side and do what's best for them. The price rise was too massive, the 20k peak was a hit that couldn't be sustained and then it started rolling down. At this moment , every investor and trader will either try to sell off or tether to cut losses. So no one is really to be blamed. 

blame those fud new sources and spreader they are the reason of panic sell and those fool easily believe without proper research. i have no idea about tether by the way thank you for the sources.

tether is only useful as a method to arbitrage 'dollar' between exchanges. thus instead of a price rise happening on one exchange. and it taking old wire transfer 3-5 business days to move dollars across to impact other exchanges. tether can do it in seconds/minutes.

but.. guess what. people were arbitraging before tether. i was doing it in 2012 between exchanges.
we just used a different alt as the dollar substitute
it was not manipulation. it was just being faster than FIAT swift network
arbitraging happens every day and its legal and standard practice for traders.

so its not tether thats to blame. its the fact that its easier to arbritrage price movements across exchanges in crypto.. its faster than standard fiat world

as for hodlers.. you cant blame them either.
if you look at the cost of mining. which depending on electric and generation of asic used is $6k-$9k region roughly per btc.. the price has NOT tanked below a healthy cost of creating btc.

so although there may be many holders(including myslf) that have coin from as far back as 2012, it doesnt show that people are willing to sell all the way back down to 2012 prices. (yep even i still have my hoard from 2012, i didnt sell)
the 6month low has remained above cost of mining minimum. so it has shown very good support.

once you cut away the very temporary speculative drama that caused the hype bubble of october/december. and then realise the january-february was a COREECTION and not a 'loss'.. you will see a healthy VALUE line for 2018 of $6k+

why should you even blame anyone? it is the same market dynamics that has been going on for 9 years or have you not looked at the charts before?
we have had the same ups and downs every time there is a big rise.

that is not a "study" it is more of like a FUD and it is not new. this has been the discussion for a very long time.
the fact is tether is shady as hell and it may have contributed to bitcoin rise but without it price would have risen anyways. for example if USDT never existed price might have gone up to $16k instead of $19.6k!

this here is pure bullshit. that is not even a "research".

No regulation has its disadvantages, such as this Tether and Bitfinex price manipulations.
THe market still needs to mature a lot. Cryptocurrencies are a long term investment.

We still need some regulation, better and safer wallets for newbies, better exchanges. Also the technology itself still has a lot to develop.

It´s hard but I am trying not to look to much at the prices.

These are normal things, part of the normal market cycles, so you should blame no one. That being said, no doubt there are big players on the market affecting some of these price changes of Bitcoin. As for Theter, I'm also not surprised. The researchers from the first linked article managed to find correlation between Tether issuance and the upward movement of bitcoin price. So this suggests that USDT was being used to buy cheap BTC and thereby pump the price of BTC as a result of their actions. I doubt that the real HODLers are in the decline though.

You can't blame it into a single trigger, there are many reasons. At the end of the day, the $20k peak went out of hand, it could have gone higher, it could have reached a lower price, at the end of the day the price went parabolic and often these moves result in strong corrections.

Due the nature of Bitcoin being a new asset class, it will be even worse and people go to the extremes (FOMO or panic selling), as years go by and assuming nothing wrong happens with the fundamental technology, these swings will be smaller in % long term as price grows.

Tether will always remain a risk (price wise) as long as the USD is accepted to buy things, including Bitcoin. If the USD can be printed at will, then Tether can be printed at will even easier. That doesn't change the fundamentals in Bitcoin.

A new study says "Tether Used to Manipulate Price of Bitcoin During 2017 Peak"
Tether, one of the most-traded cryptocurrencies, shows a pattern of being spent on Bitcoin at pivotal moments..
https://www.bloomberg.com/news/articles/2018-06-13/professor-who-rang-vix-alarm-says-tether-used-to-boost-bitcoin

And then another study says HODLers started the decline and then continued to sell into the dip.
Bitcoin Price Decline Caused by Hodlers’ Unprecedented $30 Billion Sell-Off: Research
https://www.ccn.com/bitcoin-price-decline-caused-by-hodlers-unprecedented-30-billion-sell-off-research/

The common ground is both groups wanting to cash out IMO.

So who do you guys blame?