Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 12919. (Read 26714044 times)

The evidence provided to show that Tether is a fraud doesn't stand up to scrutiny.

There have been other groups showing interest in offering cryptcurrency to their customers. For now, it has not resulted in that MEGA pump (if this Tether thing is not to be counted). For now, it looks like that pump has no immediate follow up.

(further to Silbert nonsense: https://bitcointalksearch.org/topic/m.19172611)

https://twitter.com/coindesk/status/867105037721325568

Us govt financial drone Abby Johnson, CEO of @Fidelity, appeals to the developer community at #consensus2017 to help push blockchain past hurdles.

https://fidelitylabs.com/blockchain/


Well, this is not how bitcoin rolls. Her interests are irrelevant, and her hurdles insurmountable.

All these banksters need to shut up and suck the bitcoin cock.

Bitfinex and their USDT should be shaking in their boots with Fidelity, Bakkt etc coming on board.  The tiddlywinks days of shady exchanges and monopoly money are coming to and end.

NEW CNBC: Financial services giant Fidelity takes big step into cryptocurrencies, announcing the launch of Fidelity Digital Asset Services, which will handle cryptocurrency custody and trade execution for institutional investors.

Article : https://www.cnbc.com/2018/10/15/fidelity-launches-trade-execution-and-custody-for-cryptocurrencies.html

Fidelity ==> 7.2 trillion  

“We saw that there were certain things institutions needed that only a firm like Fidelity could provide,” Jessop told CNBC, adding that it already works with 13,000 institutional clients. “We’ve got some technology that we’ve repurposed from other parts of Fidelity — we can leverage all of the resources of a big organization."

Above $7k USD and I might consider having sex again...

Depression is really setting in.

NEW CNBC: Financial services giant Fidelity takes big step into cryptocurrencies, announcing the launch of Fidelity Digital Asset Services, which will handle cryptocurrency custody and trade execution for institutional investors.

Article : https://www.cnbc.com/2018/10/15/fidelity-launches-trade-execution-and-custody-for-cryptocurrencies.html

Fidelity ==> 7.2 trillion  

1. There is a blockchain that is unlike any other in that it has no protocol defining the coin supply automatically. It just gets added to manually on an arbitrary basis by a human being

2. The ability to do this is under the exclusive power of a private company registered in the Cayman Islands with a couple or more private shareholders

3. There is a notional idea that the amount of coin supply represents the amount of "real" $USD that is sent to the bank accounts of that company registerred in the Cayman Islands. But this is simply an unverifiable fairy tail as far as regular traders and observers are concerned

HOW IT AFFECTS BITCOIN

1. Many of the biggest exchanges in the world that quote "USD" prices for bitcoin are actually trading bitcoin against this "synthetic blockchain dollar" as opposed to real bank deposits

2. In particular, the largest exchange in the world (is it ?) - or one of them, Bitfinex

3. Bitfinex also happens to be owned/run by the same owners of the Cayman Islands company that produce the "fake" dollars, So this would effectively allow them to create any amount of liquidity for nothing on the USD side of the trade and buy of the bitcoin on their own or other exchanges, thereby creating hugely artificial market pumps/dumps. We do in fact see Bitfinex leading the price in a lot of pumps as we did today

4. There are some well researched articles showing that the Bitfinex/USD Tether operation has essentially been responsible for the ENTIRE price rise in bitcoin right from $180 to where we are today

BELOW 6,5k     i migt have some powder in my eyes

I don't understand why people continue to make this argument as if it's significant.

2% of bitcoin's marketcap is HUGE and easily enough to control the entire market, since only a tiny proportion bitcoin's supply is ever to be found on orderbooks. The significant ratio is not Tether Marketcap/Bitcoin marketcap but Tether Marketcap/Bitcoin Orderbook size.

Anyway, it doesn't matter. Just the fact that there's an arbitrarily controlled counterfeit money supply that requires no backing, is supported by the biggest exchanges, and is created at will by a private entity in the Cayman Islands is easily enough to scam the entire industry and implode the market if and when it goes tits up.

Here in fact is the "MT Gox" effect right in front of our faces:

Having said that they do claim to have proven the funds and even if tether is worth 0, it still only accounts for only 2.1% of the total market cap of bitcoin, so appart from the FUD value, it's relitivly meaningless.

Fidelity, the $2.5 trillion Wall Street giant, is launching a brand new institutional brokerage and custody business for crypto

https://theblockcrypto.com/2018/10/15/fidelity-the-2-5-trillion-wall-street-giant-is-launching-a-brand-new-institutional-brokerage-and-custody-business-for-crypto/

Fidelity Launches Institutional Platform For Bitcoin And Ethereum

https://www.forbes.com/sites/michaeldelcastillo/2018/10/15/fidelity-launches-institutional-platform-for-bitcoin-and-ethereum/#5319f43f93c4

Fidelity just made it easier for hedge funds and other pros to invest in cryptocurrencies

https://www.cnbc.com/2018/10/15/fidelity-launches-trade-execution-and-custody-for-cryptocurrencies.html


Okay, this is very bullish.

Fidelity Investments, which administers more than $7.2 trillion in client assets, announced a new and separate company called Fidelity Digital Asset Services Monday.

 


edit:

 I'm home