Bitcoin Halving

Don't bank on it just yet. On the previous halvings there has been a delay before the bull run. I think last halving there was a 70 day delay? Keep in mind that we are near the big massive overhead resistance that has been haunting us since the 2017 bull run. We have been respecting that line for 3 years. So conditions look pretty favorable for a bull run. On the other hand we could have a huge dump near the resistance line that will confirm the big decending triangle that we're already in. It's a very critical moment for Bitcoin right now
 
Amun Ra said:
What happens when the supply being sold cuts in half? Price goes up.
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OK, I am going to be that guy. There is a chance that tether is buying up the extra everyday supply so price doesn't collapse. Tether is created out of thin air. So it doesn't matter how many new coins coming in because the buying power is unlimited. But that also means if the supply goes to half, they just have to create less tethers.

I could be wrong, but price won't double on halving day.

Right now 1800 BTCs are created every day. Let's assume all are sold right away. That is 18 MM dollars coming into the market just to keep up the price level. I doubt that every day that much money would come from investors, traders. But it can come from tether.
 
Pekelo said:
OK, I am going to be that guy. There is a chance that tether is buying up the extra everyday supply so price doesn't collapse. Tether is created out of thin air. So it doesn't matter how many new coins coming in because the buying power is unlimited. But that also means if the supply goes to half, they just have to create less tethers.

I could be wrong, but price won't double on halving day.

Right now 1800 BTCs are created every day. Let's assume all are sold right away. That is 18 MM dollars coming into the market just to keep up the price level. I doubt that every day that much money would come from investors, traders. But it can come from tether.
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What can I buy using bitcoin? Same question for Tether?
 
To paraphrase Pekelo, I hate to be that guy, but here goes.

Tether (USDT) is a stablecoin. It's not the only one, there are others, USD Coin (issued by Coinbase), TrueUSD (TrustToken). Each token is backed by an equivalent $ amount. These are centralized coins. Think of the issuers as "mini central banks" printing their own money. If there is trust in the company behind the stablecoin or the overall counterparty risk, then the price is stable at $1 per token. If not, then the price will go down to less than $1. As far as I'm aware, all the stablecoins are stable at this time but they were not stable during the crazy times we had mid-march.

Tethers are what I would equate to money market funds like when you sell stocks at a broker, but in this case, you sell cryptocurrencies at a crypto exchange. Some stablecoins give you interest.

I wish that I didn't distrust USDT or all stablecoins during the bull market, I could have cashed out 6 figure amounts in profits and held the value in stablecoins instead of riding the bear market down. Will be ready to utilize them on the next cryptos bull market.

https://changelly.com/blog/best-stablecoins-comparison/
 
johnarb said:
To paraphrase Pekelo, I hate to be that guy, but here goes.

Tether (USDT) is a stablecoin. It's not the only one, there are others, USD Coin (issued by Coinbase), TrueUSD (TrustToken). Each token is backed by an equivalent $ amount. These are centralized coins. Think of the issuers as "mini central banks" printing their own money. If there is trust in the company behind the stablecoin or the overall counterparty risk, then the price is stable at $1 per token. If not, then the price will go down to less than $1. As far as I'm aware, all the stablecoins are stable at this time but they were not stable during the crazy times we had mid-march.

Tethers are what I would equate to money market funds like when you sell stocks at a broker, but in this case, you sell cryptocurrencies at a crypto exchange. Some stablecoins give you interest.

I wish that I didn't distrust USDT or all stablecoins during the bull market, I could have cashed out 6 figure amounts in profits and held the value in stablecoins instead of riding the bear market down. Will be ready to utilize them on the next cryptos bull market.

https://changelly.com/blog/best-stablecoins-comparison/
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In theory. In reality USDT is backed by shit. BUSD at least is being audited every month by reputable firm and seems legit. But USDT is a pure con game.
 
RedDuke said:
In theory. In reality USDT is backed by shit. BUSD at least is being audited every month by reputable firm and seems legit. But USDT is a pure con game.
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It is difficult to trust USDT given their history and reputation. If I ever buy any USDT, it will be a small amount. I'd probably buy USDC the most as Coinbase is a US certified and regulated exchange, followed by TUSD.

Binance purposely operates outside of regulations. It's a very good exchange, but not a place I personally would store a big amount for longer than necessary.
 
johnarb said:
It is difficult to trust USDT given their history and reputation. If I ever buy any USDT, it will be a small amount. I'd probably buy USDC the most as Coinbase is a US certified and regulated exchange, followed by TUSD.

Binance purposely operates outside of regulations. It's a very good exchange, but not a place I personally would store a big amount for longer than necessary.
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makes sense. Exactly why I stay away from any of it.
 
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