Bitcoin Price Thread

Hello Bitcoin btc $57K! :D

upload_2021-2-20_9-27-6.png
 
So after reading up on tether for an entire 5 minutes, I am shocked with what I learned. The fact that it's not even wholly backed by US dollars but also loans to companies is kind of like strippers in Florida buying houses just before 2008. With so much volume coming from tether transactions, its very difficult to gauge the true interest and value. When GME hit over $400, was it ever really worth that much?

This entire crypto world is a house of cards if you can exchange a pile of crap for the supposed integrity of a Bitcoin.

If all of a sudden there is some news about tether like there was for ripple and all that trading volume disappears, what will happen to BTC? Or when people rush for the exits from tether will BTC go even more parabolic? I for one don't want crap coins allowed to be exchanged in the same manner as USD and BTC. Imagine if homeless dudes start walking around with Chanel bags. What will that do to the market for Chanel?

@RedDuke is spot on. This is a blow up waiting to happen. It's just like the FED. They have everything under control..... Until they don't!
 
NoahA said:
So after reading up on tether for an entire 5 minutes, I am shocked with what I learned. The fact that it's not even wholly backed by US dollars but also loans to companies is kind of like strippers in Florida buying houses just before 2008. With so much volume coming from tether transactions, its very difficult to gauge the true interest and value. When GME hit over $400, was it ever really worth that much?

This entire crypto world is a house of cards if you can exchange a pile of crap for the supposed integrity of a Bitcoin.

If all of a sudden there is some news about tether like there was for ripple and all that trading volume disappears, what will happen to BTC? Or when people rush for the exits from tether will BTC go even more parabolic? I for one don't want crap coins allowed to be exchanged in the same manner as USD and BTC. Imagine if homeless dudes start walking around with Chanel bags. What will that do to the market for Chanel?

@RedDuke is spot on. This is a blow up waiting to happen. It's just like the FED. They have everything under control..... Until they don't!
More...
OK RedDuke's alt account
 
Here4money said:
OK RedDuke's alt account
More...
So explain to me why being able to buy BTC with a coin that cannot be audited isn't a problem?

BTC is supposed to fix an inflation and money printing problem. If a tether can be used to buy it, but there is a possible shady way to acquire it, then how is BTC escaping this huge flaw?

Listen, it's just like real estate. Take some money that u need to launder, buy some property, artificially drive up RE values, and clean your money. But is that house really worth one million if local jobs cannot support the purchase price at even 500k... Never mind 1 million?

Sure it's all supply and demand, but if your demand mostly comes from an unsustainable source, watch out below.
 
NoahA said:
So explain to me why being able to buy BTC with a coin that cannot be audited isn't a problem?

BTC is supposed to fix an inflation and money printing problem. If a tether can be used to buy it, but there is a possible shady way to acquire it, then how is BTC escaping this huge flaw?

Listen, it's just like real estate. Take some money that u need to launder, buy some property, artificially drive up RE values, and clean your money. But is that house really worth one million if local jobs cannot support the purchase price at even 500k... Never mind 1 million?

Sure it's all supply and demand, but if your demand mostly comes from an unsustainable source, watch out below.
More...

Debunked fud here;
https://bitcoinmagazine.com/article...the-bit-short-inside-cryptos-doomsday-machine
 
You must log in or register to reply here.
Back
Top