Tether's market cap is around $2b... the crypto market as a whole clocks in at over $500b right now... what kind of effect could Tether really have, beyond the inevitable panic that will ensue?
Worries Grow That the Price of Bitcoin Is Being Propped Up
21–30 of 72 posts
Re: Worries Grow That the Price of Bitcoin Is Being Propped Up
#22The article links to tetherreport.com
> We vary N from 1 to 24 hours and examine the p-values. [.....] there are a number of periods where the p-values are significantly below 0.05 and we reject the null hypothesis for those periods.
Is it p-hacking to vary N and find low p-values? If its not p-hacking, but a valid analysis with predictive power, then wouldn't it make a good trading strategy to watch the tether wallet and buy btc whenever new issuance happens?
Re: Worries Grow That the Price of Bitcoin Is Being Propped Up
#23Reposting from another thread: I recently created my own cryptocurrency, UCaetanoCoin (UCC), with a supply of 100 trillion and one coins, all owned by me. I sold one to a friend of mine for $0.01 yesterday, which made me not only the richest person in the world, but also the first trillionaire, as the coins I own are valued in $1T USD. And my UCC has a total market cap of $1T USD (and one cent). Then I exchanged a si…
Your cryptocurrency is a security. That means you could go to jail over wash trading.
Re: Worries Grow That the Price of Bitcoin Is Being Propped Up
#24Earlier quoted context omitted.
I won’t charge you for consultation here. You should make a token system so people can earn token (somehow) and get rewards like iPhone and perhaps even a stack of American Dollar. Let’s partner with resturants, airlines, gyms and hotels. Every bite, every mile equals some arbitrary token that will expire in 180 days. We will develop a mobile game called crytoGo in which users can earn our token by mobbing Central Pa…
Actually, my next step is tying UCC into a game of collectible, organic Tarot cards. I call it crypto-Tarot. It's the future.
You should go with "cryptarot". It's cleaner.
Also it might be a juicero blockchain play!
Re: Worries Grow That the Price of Bitcoin Is Being Propped Up
#25Earlier quoted context omitted.
To spread FUD so that prices are lowered and they can buy coins cheap? Edit: So looks like attempt at humor lacked the /s tag attracting downvotes. So let me clarify, the answer to the above post asking "what will do they next?" If they believe in cryptocurrencies they will buy more if the prices are cheaper.
This reads like a conspiracy theory but please pause for a moment and consider why a financial company involved in cryptocurrencies would spread concern to a highly read news outlet. Either they: 1) Are scared that tethers can crash the market and want to flush things sooner than later or 2) It's part of a disinformation strategy to move the market where it's more profitable. There are very few rules and regulations…
Because they are experts and by being right about predicting events in this market they can garner power and influence.
Re: Worries Grow That the Price of Bitcoin Is Being Propped Up
#26Earlier quoted context omitted.
I won’t charge you for consultation here. You should make a token system so people can earn token (somehow) and get rewards like iPhone and perhaps even a stack of American Dollar. Let’s partner with resturants, airlines, gyms and hotels. Every bite, every mile equals some arbitrary token that will expire in 180 days. We will develop a mobile game called crytoGo in which users can earn our token by mobbing Central Pa…
Actually, my next step is tying UCC into a game of collectible, organic Tarot cards. I call it crypto-Tarot. It's the future.
I edited it. I propose CrytoGo for you. Let’s combine the concept of cryto-Tarot and cryto-Go together.
Re: Worries Grow That the Price of Bitcoin Is Being Propped Up
#27Reposting from another thread: I recently created my own cryptocurrency, UCaetanoCoin (UCC), with a supply of 100 trillion and one coins, all owned by me. I sold one to a friend of mine for $0.01 yesterday, which made me not only the richest person in the world, but also the first trillionaire, as the coins I own are valued in $1T USD. And my UCC has a total market cap of $1T USD (and one cent). Then I exchanged a si…
Your cryptocurrency is a security. That means you could go to jail over wash trading.
Not sure if joking or...
Re: Worries Grow That the Price of Bitcoin Is Being Propped Up
#28> Worries Grow That the Price of Bitcoin Is Being Propped Up
Never looked at the NYT as a satirical publication.
Re: Worries Grow That the Price of Bitcoin Is Being Propped Up
#29If tether pops, what happens? Do people try to cash out immediately or do they flock to the "stable" coins like BTC or ETH? To my knowledge the only thing you can trade tether for is other cryptocurrencies.
Let's see:
a. As per coinmarketcap, currently the largest BTC market is the BTC/USDT on OkEx. On looking closer, 3 out top 10 markets are USDT (excluding Bitfinex). So that is nearly 10% of only BTC liquidity gone.
b. As Tether and Bitfinex are connected so the exchange shuts down. It is the 2nd largest bitcoin exchange. So all that liquidity vanishes too. That brings our above total to 15%.
c. There will be many cross connected trades relying on USDT so my guess is the liquidity number will be higher, maybe even in 25-35% range.
d. This will cause panic and people selling BTC left and right. So BTC prices taking a huge hit. It might go down as low as 1-2k.
e. Most other cryptos are pegged to BTC. So with BTC liquidity gone they will take another huge hit too.
Re: Worries Grow That the Price of Bitcoin Is Being Propped Up
#30Tether's market cap is around $2b... the crypto market as a whole clocks in at over $500b right now... what kind of effect could Tether really have, beyond the inevitable panic that will ensue?
So currently the same as:
Bitcoin gold -- a questionable bitcoin fork.
OmiseGo -- Soemthing I've actually never heard of, despite following cryptocurrencies pretty closely.
If OmiseGo, or Bitcoin Gold ended up being a scam, would the market even notice?