I have no idea what you’re talking about

ok.

is the audit referred to in the blog post the same audit you're talking about? i don't need you to read or agree with the contents of the blog post.

Of course.... those are preliminary results and completely align with the expectation that the tether that bitfinex holds is completely backed 1:1 with fiat


Now, what if I told you that bitfinex isn’t even the largest recipient of tether deposits over the past few weeks?

Okcoin has completely switched to tether since the pboc ban and there are plenty of institutional and high net worth individuals who are using that platform to hedge their btc holdings. As evidenced by their trade volume post pboc ban, tether appears to be functioning as intended

Of course the bitfinexed troll has no idea that okcoin even uses usdt or that the lion share of fiat moving into tether is looking to actually just hedge.

Wow Bitfinex is the biggest ponzi of them all, incredible people cannot see this.

I can't stand this guy's pretentious attitude. He has this built up anger for Warren Buffett. "Warren Buffett doesn't understand economics" --

He can hate rich people all he wants, but that doesn't excuse him for making **** up. People say bad things about Bitcoin and that is their opinion.

Why would an institutional investor wire money to Tether (which by the way was dropped by their Taiwanese banks in April as well) in order to buy BTC when he could buy BTC directly without Tether as an intermediary step?

You all know that institutional investors have to follow strict guidelines and I doubt that these allow to wire millions of $ to a shady entity that has lost banking and doesn´t disclose where they are banking in order to buy a digital token.

Move along, folks. Nothing to see here!



Tether issuance in November has reached a staggering 200M $. Without these issuances BTC would likely trade in the 2-3k range now.
Altcoins are probably heavily affected, too. Most bigger altcoins have a USDT trading pair at Poloniex, Bittrex or Bitfinex (indirectly).

"Expectation".

There's no audit posterior to the 600m+ of tether printing.

I only stated facts, and to argue against those, all you have is the "expectation" that ppl will be honest.

In an unregulated space. With 600m+$. Riiiiiight.

You're either a) stupid b) a bfx shill, or both.

In any case, I'm done talking to you sir,

gl with your "expectations".

I think Tether is BS. However.. I don't think 200M makes BTC trade in 2-3k range. What happens when the $10 BIL coinbase claims is waiting to enter the market enters?

Of course Tether will say "institutional investor," but it's obvious that most of their clientele (if they exist) would be whales in China/Russia using Tether as a mechanism to circumvent capital controls. With the Chinese exchanges shut down as of last month, and BTC-e earlier this year, it would make sense for an increase in the issuance of USDT. There is still no hard evidence of Bitfinex using Tether for the purpose of market manipulation.

Get your Xmas sweat at www.hodlmoon.com

Bitcoin is worth what people think it is. So if you convince a lot of people that it's worth a lot...then it will be. Personally I don't think it valuable but plenty of other people disagree with me at the moment. One way to pump up its value is to go around and telling everyone how valuable it is and how much more valuable it will be. Reminds me of all the gold bugs a few years ago when precious metals were on a tear.

Gold, something that can be mined to control price, became overvalued when it doubled in three years with a market cap somewhere in the trillions. Imagine if mining couldn't produce more gold to match the higher price and demand?

I think one of bitcoins biggest flaws in creation was the unit of measurement. Only making 21mil makes them seem rarer I guess but if a single bitcoin was worth $0.08, 0.80, or even $8 it would be a lot easier for bitcoin newbs to wrap their head around an idea of room for growth or being able to buy multiple units. I think the $8000 price makes it seem expensive, or that people can't buy any with less than $8000 when in reality a small investment could turn a large profit in the years to come.


It's possible this unit size was helpful in the early days of bitcoin but I doubt the help it did then outweigh the harm it's doing now.

Others might argue that they aren't rare enough and because they can be divided they are practically infinite.

Yeah, I've seen that argument, and it's bad. The market cap is the important number.

Instead of a stock split, create accepted linguistic terms covering every 2-3 0's in between 1 Satoshi and 1 Bitcoin.

Hey, I own 0.004 Bitcion, or 400k Satoshis is a little harder for the masses to wrap the head around, vs. 40 of something, etc.

[If the overall price continues it's ascent, especially]

400k satoshi would be better as a way to market Bitcoin. For people just getting into bitcoin, it would be a better illustrator that it's still very cheap, and you can buy a lot of it for hundreds or thousands of dollars.

Very few people look at the market cap when dealing with bitcoin and instead look at the 8k number. This insinuates to new users that they can't afford it before they're even given a chance to look into it.

Plenty of people have tried to change the unit linguistic but this is very difficult for the community as a whole to adapt to without confusing everyone involved.

I'm just teasing a poster here, didn't know anyone else made that argument.

I think you're right, but that would've been pretty forward thinking when BTC got started. It's a bit strange how the amount of coins affects perception. BTC's does seem too small, but if you look at another coin that has way more... for example ESP with 21 billion... all of a sudden that just seems like monopoly money to me.

It's also possible that the large numbers trigger people's fomo: Bitcoin at 4000! was a huge deal. BTC at 400! or BTC at 40! might not have that same ring. So while some people would be more likely to enter because "it's still cheap" other might not enter but it's not a huge headline.

I don't think the denominations are too big of an issue, there are pros and cons for all different values Satoshi could have set the variables to.
I think however, even if it doesn't matter too much, that it is high time to start using bits instead of bitcoins. Bits being microbitcoins, or one millionth of a bitcoin. That means one bit is 0.77 cents, 1,000 bits are $7.7, and $1 gets you 130 bits.
Then satoshis are also a hundredth of a bit, which people are used to from traditional, valueable currencies, like the different dollars, the euro, and the pound.

Guys what i wanted to ask you is if anybody knows a way to get bitcoins to my wallet with skrill/Stars money. I would be willing to send first to some1 reliable/ well known in the forum with good trackrecord. Is there someway to exchange that with other twoplustwo members? I dont want to give my personal Informations to coinbase or those other exchanges.

Does anyone here think btc price is way too high for someone to invest in it right? The other thing if they invest in bitcoin, not much people have that type of money to invest because one bitcoin is over 7k. I mean not much people can even buy 1 bitcoin. And those that can, well they can't really invest in more than say 2 or 3 since thats already al of money for most people.


Also isn't it a better idea to invest in altcoins as oppose to bitcoin for the reason that if you want to double your money, you need btc to double in price. If btc doubles in price, that is a huge number for bitcoin. But say an altcoin is 5 dollars or something or ridiculous like under 1 dollar... well doubling in price for those seem much easier and you can 5x, 10x that amount. However i read that altcoins are very risky. But shouldn't someone who doesn't have a lot of money invest in altcoins instead? And maybe use some on bitcoin as a hedge since most people say bitcoin is only going to go up? Because if you own just 1 bitcoin, well it doubling would be 7k in profit which is a lot. But it seems doubling the price now is way too hard. Don't most agree on this? Because lot of people seem to say it will be a long time before btc hits 20k. And that would be 3x your 7k investment. But if you invest on a coin that is 1 dollar, well that coin could hit 3 dollars much easier. Is there anything wrong with my logic here? Its like unless you have a huge amount of money to invest in bitcoin, it just seems like altcoins are better in that you could make 3x, 5x, 10x your money. I can't imagine btc doing that if it even does until a lot later etc.

This 1st question is exactly what I’m talkig about. You may be trolling but I’ll answer anyways.
Many experts think bitcoin could still double triple or quadruple and then some in the next couple of years. No you don’t need to buy one two or three bitcoins. I think you should buy an amount that is appropriate for your age, income, and investment bankroll. Unlike stocks bitcoin behaves more like gold where you can buy any fraction of a unit.

Bitocoin is the blue chip of cryptocoins and most of the ico coins are the equivalent of penny stocks or worse.

I think as Bitcoin becomes more mainstream, people will naturally peg a word for common denominations. For example,

100k Satoshis will be known as a hundo.