Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 12920. (Read 26714038 times)
October 15, 2018, 11:22:39 AM
LOL
October 15, 2018, 11:05:12 AM
Start of a Bart...looks like a Nessie...
October 15, 2018, 09:53:23 AM
Anybody mind explaining to me how tether works and how it's relevant to bitcoin price at all?
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
Having said that they do claim to have proven the funds and even if tether is worth 0, it still only accounts for only 2.01% of the total market cap of bitcoin, so appart from the FUD value, it's relitivly meaningless.
They've surely had enough USD to back the USDT in circulation at certain points. At other points in time, they probably haven't. This is why they were able to get a law firm to sign a letter basically saying "they have enough money to back all the USDT at the moment," yet accounting firms run away in horror as soon as they see Tether's books.
October 15, 2018, 09:42:35 AM
Anybody mind explaining to me how tether works and how it's relevant to bitcoin price at all?
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
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.
October 15, 2018, 09:22:01 AM
maybe Kucoin has their own vested intenrest in feeding the tether fud.
Precisely. It's all whale games.
Give this man a new hat.
edit:
Edit: trying to post from my phone... sorry no proper image tools
Good good .... Then for once you can’t outperform all the rest
I'm home
October 15, 2018, 09:19:39 AM
Anybody mind explaining to me how tether works and how it's relevant to bitcoin price at all?
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
October 15, 2018, 09:15:44 AM
October 15, 2018, 09:10:10 AM
Anybody mind explaining to me how tether works and how it's relevant to bitcoin price at all?
October 15, 2018, 09:06:18 AM
maybe Kucoin has their own vested intenrest in feeding the tether fud.
Precisely. It's all whale games.
Give this man a new hat.
wich one, i got a few hat's.
ill take the red hat for now thanks, that's the hat not the candle colour.
October 15, 2018, 09:00:31 AM
THOSE SHORT EXPERTS
watch out hairy 
He was not liquidated (if you are talking about Tone Vays). On bitmex (where he is doing this trade) highest was $6777. His liquidation happens at around $7650.
October 15, 2018, 08:32:25 AM
So basically a whale or company that did not want to take the risk is pulling their money out of BFX the only way they can...through BTC.
Now that same risk adverse whale or company will want to convert back to their precious safe fiat currency on another exchange. Sure they lose money but have less risk. Which also drives the price down on that other exchange.
Now that same risk adverse whale or company will want to convert back to their precious safe fiat currency on another exchange. Sure they lose money but have less risk. Which also drives the price down on that other exchange.
But... bbut... if what they are saying is true, "certain user groups" (whales?) are desperately trying to get more fiat in, presumably to buy more Bitcoin. Not trying to take more fiat out. They said fiat withdrawals are working fine.
Does someone know something?
Bullish.
October 15, 2018, 08:03:00 AM
October 15, 2018, 07:59:44 AM
Where did you get the hats Mic?
Bought them in Mallorca and barca....
BUT ONLINE
https://store.goorin.com/mens-hats/featured/top-sellers
Goorin brothers hats .....
October 15, 2018, 07:53:39 AM
Where did you get the hats Mic?
October 15, 2018, 07:32:56 AM
October 15, 2018, 07:31:16 AM
maybe Kucoin has their own vested intenrest in feeding the tether fud.
Precisely. It's all whale games.
Give this man a new hat.
wich one, i got a few hat's.
October 15, 2018, 07:29:44 AM
THOSE SHORT EXPERTS
watch out hairy I'm no expert. I just lack moral hygiene.
no, for me your an expert
October 15, 2018, 07:25:02 AM
Most people voted $6,500-$7,000 in the poll, and we're still below that... smh...
BELOW 6,5k i migt have some powder in my eyes
October 15, 2018, 07:23:50 AM
THOSE SHORT EXPERTS
watch out hairy I'm no expert. I just lack moral hygiene.
October 15, 2018, 07:22:22 AM
THOSE SHORT EXPERTS
watch out hairy Jump to: