Exactly , it doesn't.
A single anonymous market manipulator caused bitcoin to top $20,000 two years ago, study shows
- Thread starter trader99
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Are you a fool or shill for whales??? First Bitfinex claimed every tether was backed by 1 usd, when that blew up, they said well it is actually backed by some loans and debt, when that blew up, they now claim 800 mil was stolen from them.
They just create tethers on the spot and use them to buy bitcoin to keep price from plunging. Had it not been for this crap, BTC would be sub 1k by now or even much lower.
It depends on one or few market participants having control via their own make up shit aka USDT. If you want to buy bitcoin, you need to spend your hard earned money, when Bitfinex manipulators want to buy it, they just create tethers, and use their own platform to buy Bitcoin. Insane that this shit is still allowed to continue.
It is actually a huge problem. Unlike crypto there are very clear rules what Fed can and can not do.
Crypto and especially block chain, are actually fantastic ideas. However crypto in the current form is a scam more or less.
Yea, you're right, there's a debt ceiling that prevents the Fed to get out of control. Oh, wait, er, uhm, nvm.
Out of curiosity, how much USDT do you think they print every day to support or even pump it? How much USDT are in existence?
Coinbase (US regulated exchange) alone btc/usd trading is about $100M every 24 hours . I'm not including all other exchanges worldwide.
https://pro.coinbase.com/trade/BTC-USD
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To each it’s own. All I am doing here is sharing what I learned. Not a single of my friends , who invested in crypto, knew that USDT even existed, let alone what it is being used for. First refusal
To even acknowledge, then omg how can it even be legal.
Hey Mr. Strawman, one hour produces 725K dollar worth of Bitcoins and they are mining more...
Hey Mr. Strawman, one hour produces 58K dollar worth Bitcoins and they are mining more...
You will love my other thread, Pekelo
Every year there is another 3,300 tons of gold produced–lets call it $200 billion of new gold that must be absorbed every year by buyers.
Let’s look at bitcoin. Every year at, let’s say $10,000 a coin, there is $6.5 billion dollars of new supply that needs to be hoovered up by new demand to maintain its prices. The is a tiny fraction of the issuance of new gold.