Is bitcoin price manuplated with fake Tether?

VuLDK

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Quote from: ask on November 06, 2017, 03:49:18 AM

Here i want to share a good article with you. There really interesting evindence about bitcoin price manuplation and skyroketing bitcoin prices.
Please read the article and discuss whats going on with bitfinex.

https[Suspicious link removed]d/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330

I advise you to stock up bitcoin, the opportunity to get rich is coming.

gentlemand

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Quote from: alyssa85 on November 08, 2017, 10:46:05 AM

At some point someone will try to redeem the tethers for real dollars and the whole thing will come tumbling down.

This is the million Tether question. A BFX employee pointed to the Kraken USD/USDT market as proof that you could cash out. Well, that has nothing to do with Tether and it's all offloaded on to some other twat who's willing to hand over real dollars.

Tether and BFX regularly talk about the ability of their 'institutional investors' to move large amounts of real money in and out. I think they set a figure of $50k. I cannot find one single person anywhere on the internet who's claimed to have done this.

alyssa85

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Quote from: gentlemand on November 08, 2017, 08:05:51 AM

Quote from: neurotypical on November 06, 2017, 02:19:00 PM

I think the impact of tether on the price is vastly overrated. Let's say tether is being used for fractional reserve-like practices. So what? We are dealing with the dollar all the time. BTC/USD is also compared against a fractional reserve currency. You can't stop these practices. Tether is a tiny amount of the money pot in bitcoin anyway. People comparing an hypothetical tether crash with Mt Gox 2.0 are out of their mind.

All markets have leaders and when it comes to USD that's been Bitfinex for a long, long time. It doesn't matter if all of the rest of the market is real dollars and BFX is fake, the market will follow BFX for whatever reason and those fake dollars will drag the real ones along with them regardless of the proportion that BFX constitutes.

That means it does matter.

I've no idea what the score is with Tether, but to regard it as irrelevant is not the sensible thing to do.

It's because of the automatic trading bots, they use bitfinex as a reference, so it's very easy to influence the market just by a few dodgy trades on bitfinex.

At some point someone will try to redeem the tethers for real dollars and the whole thing will come tumbling down.

MintCondition

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Quote from: leonair on November 08, 2017, 09:04:35 AM

Actually even if this is so true we can't do anything about it if Tether really wants to manipulate the price of Bitcoin then we will still use it though, maybe I can't fully understand the issue here but the market capitalization of Bitcoin is still measure in dollars so meaning it is money inside of Bitcoin then if they want to buy their very own sell orders in able to pump the price of Bitcoin then so be it for as long as they want it. I think the main reason of the price hike of Bitcoin is the Segwit2x no more no less because this Hard Fork will be a make or break for Bitcoin if it really implemented with the Bitcoin network.

Segwit can be a help to make transactions much easier and better,as we see many adapts btc drastically, without having segwit btc platform night get hard to accompanied all users,but it doesn't mean that segwits conttolled btc,it's decentralized.

leonair

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Actually even if this is so true we can't do anything about it if Tether really wants to manipulate the price of Bitcoin then we will still use it though, maybe I can't fully understand the issue here but the market capitalization of Bitcoin is still measure in dollars so meaning it is money inside of Bitcoin then if they want to buy their very own sell orders in able to pump the price of Bitcoin then so be it for as long as they want it. I think the main reason of the price hike of Bitcoin is the Segwit2x no more no less because this Hard Fork will be a make or break for Bitcoin if it really implemented with the Bitcoin network.

ask

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Quote from: alyssa85 on November 08, 2017, 08:19:15 AM

It's possible. There was an interesting thread on reddit where someone reported that new tethers had been created and predicted a jump in the bitcoin price - and it jumped from $7100 to over $7400. Here is the thread:

https://www.reddit.com/r/BitcoinMarkets/comments/7bgz1h/just_in_new_tether_load_dropped_20000000_tether/

These are similar suspicious activities over tether and bitcoin. If these rumors get true we will see a nice bomb very soon.
there's no smoke without fire

alyssa85

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It's possible. There was an interesting thread on reddit where someone reported that new tethers had been created and predicted a jump in the bitcoin price - and it jumped from $7100 to over $7400. Here is the thread:

https://www.reddit.com/r/BitcoinMarkets/comments/7bgz1h/just_in_new_tether_load_dropped_20000000_tether/

gentlemand

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Quote from: neurotypical on November 06, 2017, 02:19:00 PM

I think the impact of tether on the price is vastly overrated. Let's say tether is being used for fractional reserve-like practices. So what? We are dealing with the dollar all the time. BTC/USD is also compared against a fractional reserve currency. You can't stop these practices. Tether is a tiny amount of the money pot in bitcoin anyway. People comparing an hypothetical tether crash with Mt Gox 2.0 are out of their mind.

All markets have leaders and when it comes to USD that's been Bitfinex for a long, long time. It doesn't matter if all of the rest of the market is real dollars and BFX is fake, the market will follow BFX for whatever reason and those fake dollars will drag the real ones along with them regardless of the proportion that BFX constitutes.

That means it does matter.

I've no idea what the score is with Tether, but to regard it as irrelevant is not the sensible thing to do.

HeRetiK

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Tether is a ticking time bomb, that's for sure, but at this point I think its influence is luckily rather limited. As in: I doubt that the trading volume of Tether -- fake or not -- is large enough to influence the Bitcoin price in a meaningful way.

That being said, should Tether get belly up we would still be in for a ride because it would disconnect a lot of exchanges, especially the alt heavy ones. Question being, whether this would pull down Bitcoin with it, or whether people would simply move to one of the exchanges that are still connected to the traditional banking system.

DaMut

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it has nothing to do with it,
the reason behind this mass pump were many,but none of them because of the tether.
if we're comparing it to the hope that CME group gave us,it's much more intense compare to so called 'tether'.
other than that,Bitcoin giving away a free money for holding it alone,which is much more attracting comparing to 'fake tether'.
and many more.
so i do not think it has a relation between Bitcoin price(Mass Pump) and tether,they have a relation but it's not that much.
just used as a pair to trade Bitcoin itself,nothing more than that.
also it's not the first time we heard about this,should be right ? because a years ago we heard something similiar to this one.

btcney

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Quote from: ask on November 06, 2017, 03:49:18 AM

Here i want to share a good article with you. There really interesting evindence about bitcoin price manuplation and skyroketing bitcoin prices.
Please read the article and discuss whats going on with bitfinex.

https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330

Is BTC price being manipulated whether by Tether or other means? Definitely. But the degree of manipulation is really what we're talking about here. Is it causing all of the pumps to happen and keeping prices up? Probably not, there are other legitimate factors too.

But the fact that Bitfinex and Tether are all related and margin trading volume and price jumping at the same time as issuance of new Tethers is definitely suspicious. At the end of the day - this should not affect the long term outlook of bitcoin.

pooya87

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i only know one person in the whole world that believes that, and he is an idiot that keeps spamming on bitcointalk even after being banned multiple times.

there is no connection between tether and bitcoin price, most people don't even trust tether enough to use it despite the volume of it rising in the past few months. and in the end the total volume that comes from tether market is not even big enough to be considered effective on anything.
you can't just make up words and write long texts, quantity doesn't make what he says true!

marky89

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Quote from: ask on November 06, 2017, 03:49:18 AM

Here i want to share a good article with you. There really interesting evindence about bitcoin price manuplation and skyroketing bitcoin prices.
Please read the article and discuss whats going on with bitfinex.

https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330

Bitfinexed ties together a bunch of irrational ramblings to conclude that Tether is responsible for the rise of BTC price. He points to a character he calls "Spoofy": apparently flashing bids on Bitfinex's order book is responsible for people buying up bitcoins on exchanges all over the world. Who really believes that $500m in circulating USDT can pump the entire Bitcoin market, for the better part of a year?

I'll agree that Tether is very shady. Its future collapse (because it's a secretive, centralized derivative) is almost certain. But that doesn't mean we can blame Tether for the rise of BTC, as Bitfinexed claims.

Anonylz

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Far as i know there are only going to be created only 900 millions of tether, as far as i know, once that it happens the whole thing about this altcoin will explode, there is no altcoin that can be compared with the real dollar because it is impossible, not even the most strongest currencies like euro or gbp can do it because there is no way, and this is why euro agains dollar are about 1,17 each one, because they can not be equal.
tether is trying to mantain a lie, and there is no way to cover it.

neurotypical

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Quote from: ask on November 06, 2017, 03:49:18 AM

Here i want to share a good article with you. There really interesting evindence about bitcoin price manuplation and skyroketing bitcoin prices.
Please read the article and discuss whats going on with bitfinex.

https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330

I think the impact of tether on the price is vastly overrated. Let's say tether is being used for fractional reserve-like practices. So what? We are dealing with the dollar all the time. BTC/USD is also compared against a fractional reserve currency. You can't stop these practices. Tether is a tiny amount of the money pot in bitcoin anyway. People comparing an hypothetical tether crash with Mt Gox 2.0 are out of their mind.

ask

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Activity: 1386

Merit: 1004

Here i want to share a good article with you. There really interesting evindence about bitcoin price manuplation and skyroketing bitcoin prices.
Please read the article and discuss whats going on with bitfinex.

https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330

Topic: Is bitcoin price manuplated with fake Tether? (Read 635 times)