i screwed this up, calced 50x first then stopped thinking

2.3m @ 100x = 23k
2.3m @ 50x = 46k

Please take note how most tethers are issued during downturns in bitcoins price. 25000000 new were just issued a couple days ago during the most recent slump.

https://twitter.com/bitfinexed?lang=en

https://medium.com/@bitfinexed

it's almost as if people buying bitcoin leads to the price going up

this is what should happen. this is not evidence of anything.

Notice the lack of conclusions in my post. I'm only posting information for people to dig and find out the truth about what's going on on their own.

In that case, it's old and has been posted before itt

The prices were rising when the game first came out - but there may still be some opportunities to buy low and sell high and price arbitrage?

Managed to double my ethereum, after Capn. Kitty and her husband had a baby last week


PS. Hi DoOrDoNot!

It continues to be an issue to be aware of.

Can't the same be done using actual US dollars on gdax or gemni? I would think that tether would support altcoins more then Bitcoin. Does Bittrex even have enough volume to significantly influence the price?

I know there is some fraud talk going around concerning tether but I really don't get it.

Seems like you really want me to shut up about it.


AFAIK the only exchange exchanging tether for USD is Kraken. There's a lot of speculation as to what tether is for. The fact is though, that Bitfinex lost their US banking (Wells Fargo) around the same time they started massively issuing tether (currently about 900 million USD liabilities), and it says right on their site that despite it being 'backed' 1:1 with USD held in Taiwanese bank accounts, they reserve the right to deny conversion from tether into USD, and so far as I know there is very little actual conversion going on between the two on any exchange. There are multiple threads on reddit and elsewhere of people getting denied cashouts of tether from bitfinex and being forced to convert into BTC instead. Also the big issuances correspond greatly during large downturns in the price of BTC. This brings up big liquidity questions.

There is some evidence that tether is being used for margin lending on the exchanges. There is a significant amount of evidence of bots wash trading tether and BTC. One of the main board members of bitfinex runs a BTC hedge fund. One of the others was involved in a ponzi scheme back in 2012. Despite this, it continues to be the biggest (?) exchange.

Regardless, there is tons of information if you follow the links I posted and do some digging.

Okay thanks

Not really, gdax can't print any USD to buy BTC with, they have to deliver actual USD to the seller. The idea is tether could be printing coins which people are basically using as dollars. They say tether is on the dollar standard and backed but we really have no idea. If everyone assumes tether is as good as the USD, they could essentially be printing money for all we know.

The irony is that BTC/USDT trading at a discount to GDAX means that people are effectively paying $1.02 for 1 tether.

Ah. I follow now.

Noob question, does Blockchain ask for ID verification? I made a account with Coinbase and sent the required ID in but I don't see ID requirements on the Bloackchain website?

Work in investment mgmt. studied investment mgmt. Really high risk tolerance/overly Aggro probably. See huge opp here. Trying to come up with a "diversified" crypto/blockchain portfolio to represent no more than 10% of total assets invested as my "play" money. Someone who has been in bitcoin for 1+ yr (ideally 3+) please tell me your bull/bear case. Are you taking some gains off the table? What percentage of total personal assets are in crypto? I am a believer that crypt can melt up another 10x before eventual meltdown of -50+% or so but I'm curious to hear someone who's been in it for a while and been tracking what their thoughts are. And if the answer is truly like who the heck knows and you don't have thoughts at all that's cool too.

I'm looking at Litecoins price and even though I have a good amount of Litecoin I feel sad, because I was gonna get more. Now it may be too late. Grrrr. Was thinking I should get 10k worth and sell half once it doubles, Arghhh damn it. Why me. Why. Instead I was having fun playing with virtual cats instead of getting Litecoin.

Bull case: it becomes a real alternative to gold/fiat/banks, MC of a few trillions in the medium to long term
Bear case: for whatever reason doesn't break through into the mainstream, remains a good medium for exchanges on the grey markets

What I really don't see happening is it ever crashing down to zero.

Hey getmeoffcompletely, just out of curiosity, do you have doge coin?

bull case: everyone is pouring in, FOMO, a lot of room for growth, I'm kind of in your mindset, where I think there is at least a lot of room for growth temporarily because it is only just picking up steam, so it seems to me (hell, I don't know, maybe people do believe in the tech(feel like most people pry know nothing about it though, like me ))

bear case: regulations and only regulations

Wow yesterday every article on marketwatch main page was Bitcoin. Today in the Globe and Mail:

"We've seen mortgages being taken out to buy bitcoin … This is not something a guy who's making $100,000 a year, who's got a mortgage and two kids in college, ought to be invested in." Joseph Borg, president of the North American Securities Administrators Association, to CNBC"

I am in the camp that feels bitcoin is pure speculation of something with absolutely no utility. I watched that Ver interview and he was the first person I have ever heard who actually makes sense. Bitcoin cash sounds like something that may actually be useful. I know he is talking his book but I have never heard anyone make a compelling case for owning bitcoin itself. I figure "some" cryptocurrency will succeed at some point but it will be a while and this is a huge mess that will take time to sort itself out and I'm not so sure that bitcoin is the ONE. That fact that are just so damn many of them just muddies the waters. The fact that there is no controlling body and just a random selection of rogue operators doesn't instill any faith in me at all.

Am i the only one who enjoys the sweat of refreshing blockfolio in the morning?

bull market my friend, it's easy to be excited, it's hardly a sweat, I'm just watching Litecoin go up 300% in 5 days after getting in. I agree with a lot of what mrbaseball said. I'm pretty sure many people are kind of worried it's all a bubble but everyone is trying to ride it out as long as they can before it pops. It's a lot like Texas Holdem in that sense in that your timing has to be good. You ever run those bluffs and get picked off? it probably was just a bad time to bluff, all about timing.

Taking out a mortgage to buy Bitcoin is insane.

greed, hate, envy, what cake will do. **** the game, don't let the game **** you now.

Bought 5k (Euro) of Litecoin @ 250 this morning expecting a heater with intention of selling a few hours later... Went in to sell it @ 350 and coinbase is down... Annoying as Fk

Felt like a genius until now...