391–400 of 490 posts
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That makes no sense. Again, how can someone manipulate Bitcoin on Coinbase with Tether when Tether is NOT accepted?
It does make sense. The price of BTC in USD is roughly the same on every exchange. If some exchanges allow USD and USDT interchangeably, the BTC price can be driven up by trades that are conducted in USDT. The price on Coinbase will adapt to that.
>4) How the scam works: >Tether can print infinite amounts of (worthless) $USDT. >They then inject this into BTC, ETH, LTC, (and others) to cause prices to pump. >Notice how during the months they stopped printing Tether, the market moves sideways or drops significantly. >This graph also shows the extent to which USDT plays a role in Bitcoin's price action over the years. I don't get it. This doesn't really prove any…
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How do you square this with the observation that other fiat-backed stablecoins like USDC, which are obviously legitimate, are also printing massively? It would seem to me that if transparent stablecoins with utility are going up, the simplest explanation for tether going up is that it serves the same role for people who have either become accustomed to it from its earlier availability, or have it as their only option…
The argument isnt that there are no legitimate inflows of other stablecoins (or traditional fiat currency) into bitcoin prices. The problem is that Tether is ~80% of inflows [1], and is dubiously backed at best. If 80% of the price support disappears, prices will fall, and legitimate buy side interest from other stablecoins or fiat will almost certainly shrink as well. [1] https://twitter.com/JacobOracle/status/13461…
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Lots of examples in this thread. A replacement for gold is one.
> A replacement for gold is one. Gold is relatively stable and has physical backing. BTC does not.
Up to 4% of China's gold reserves could be fake. Gold fraud article: https://economictimes.indiatimes.com/news/international/worl...
Bitcoin is open source and completely auditable in an instant.
As the price of gold goes up, the quantity supplied goes up. Bitcoin's issuance protocol is fixed and unchangeable unless the network agrees.
The cost of securing or transporting $1b of gold bars is magnitudes higher than the cost of securing $1b of Bitcoin.
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Lets clarify semantics. Can the government seize Bitcoin directly? No. Can the government seize your bank account directly? Yes. Can they threaten you with jail if you don't hand over your Bitcoin? Yes
Can the government seize Bitcoin directly? No. Yes, it can. The U.S. government has in fact seized Bitcoin directly and sold it at auction several times. It is arguably the single largest non-exchange seller of Bitcoin in Bitcoin's history.
1) Seed phrases are discovered (ie. plaintext document or physical artifact).
2) Seed phrases are handed over by willing party.
If #1 doesn't exist, then #2 is the only option.
https://twitter.com/search?q=%22minted%20at%20Tether%20Treas...
A tether fork call it 'tether2' can be 'backed by tether', with the same legal setup (wyoming msb state license according to fincen, which isn't real since wyoming exempts them). The issuer of tether2 would accept 1 tether for one new tether2. This issuer would immediately sell tether to get real dollars on an exchange like Kraken while liquidity exists - usdt/usd pair, which is the only real way to redeem tether, unless you directly deal with tether(which mean you better be located in wyoming). When redeeming the tether2 ppl can either get back tether or optionally 1 real us dollar. So you effectively have front run the inevitable tether bank run. Sure they have to put trust in this new tether fork. You can steal tether's customers that are worried and since the feds seem to have a blind eye towards a company that isn't a bank and is most likely practicing fractional reserve lending, you let the free market 'regulate' tether. since you can always buy tether for a us dollar, but you may not be able to sell tether for a dollar there is no risk of selling tethers for real dollars.
Also what happened to the tether issued on bitcoin cash blockchain through omni after the fork of bitcoin?
To people who think Tether manipulates Bitcoin price: How do you explain Bitcoin doing so well on Coinbase when Tether is NOT ACCEPTED on Coinbase???
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Here are a few projects that use Ethereum to do things that have nothing to do with acquiring chemicals or crypto asset speculation. https://www.nucypher.com https://filecoin.io https://alice.si https://www.augur.net
I can do all that right now without inserting a power-wasting cryptocoin layer.