Bitcoin Price Thread
- Thread starter Magna
- Start date
You're kidding me with this bullshit, right? I can't believe I wasted 16 minutes of my time to listen to this.
Every single legal case that ends in "nobody has to admit fault", you know damn well that there is shady stuff. Each time some bank settles with the SEC but doesn't have to admit fault, they did the crime. I know in this case they weren't found guilty, but all the author does is state that the worst case of the conspiracy theorists is probably not true.
The only reason he can conclude that today is a good day for BTC and tether is because the hammer hasn't yet dropped. So now we should get quarterly updates, well, lots of companies on exchanges fail to report their quarterly updates, so lets see what happens. But how will this be verified? Madoff had no problem showing statements of all the supposed investments that were made.
Lastly, the author, nor I guess the end result, explains why there are shady dealings to begin with. Why is the company not transparent? Maybe not every tether is printed out of thin air, but hey, just like fractional reserve banking, the banks only need 1 actual dollar for ever 9 dollars they lend out. Maybe tether is operating on a fractional reserve basis!
The only thing I think is really good for BTC is that if an issue with tether crops up, all those tethers will flood back into BTC, so the demise of stable coins can be seen as a huge initial bump for BTC. That's of course assuming you can still transfer your tethers to something. I'm of course not saying this will happen, but there is clearly a reason for all the opacity. So what is that reason?
You're kidding me with this bullshit, right? I can't believe I wasted 16 minutes of my time to listen to this.
Every single legal case that ends in "nobody has to admit fault", you know damn well that there is shady stuff. Each time some bank settles with the SEC but doesn't have to admit fault, they did the crime. I know in this case they weren't found guilty, but all the author does is state that the worst case of the conspiracy theorists is probably not true.
The only reason he can conclude that today is a good day for BTC and tether is because the hammer hasn't yet dropped. So now we should get quarterly updates, well, lots of companies on exchanges fail to report their quarterly updates, so lets see what happens. But how will this be verified? Madoff had no problem showing statements of all the supposed investments that were made.
Lastly, the author, nor I guess the end result, explains why there are shady dealings to begin with. Why is the company not transparent? Maybe not every tether is printed out of thin air, but hey, just like fractional reserve banking, the banks only need 1 actual dollar for ever 9 dollars they lend out. Maybe tether is operating on a fractional reserve basis!
The only thing I think is really good for BTC is that if an issue with tether crops up, all those tethers will flood back into BTC, so the demise of stable coins can be seen as a huge initial bump for BTC. That's of course assuming you can still transfer your tethers to something. I'm of course not saying this will happen, but there is clearly a reason for all the opacity. So what is that reason?
The reason you think it was a waste of time is that there is nothing that will convince you that your Tether fud belief is wrong
What you fail to acknowledge is that whether you know it or not, you're grasping at a straw (Tether will get shutdown by the US government) that just broke.
Remember when you were so looking forward to this case and what you thought the outcome would be a complete shutdown of Tether and a complete crash of bitcoin?
Let me ask you simple question, what is the next step for your Tether FUD religion?
It's not bullshit, it's a US court decision. You lost. It's over. Case closed
Do you really think that because the court didn't shut anything down that there isn't anything wrong going on or a possible major issue in the future? They didn't exactly give the company a standing ovation.
You're kidding me with this bullshit, right? I can't believe I wasted 16 minutes of my time to listen to this.
Every single legal case that ends in "nobody has to admit fault", you know damn well that there is shady stuff. Each time some bank settles with the SEC but doesn't have to admit fault, they did the crime. I know in this case they weren't found guilty, but all the author does is state that the worst case of the conspiracy theorists is probably not true.
The only reason he can conclude that today is a good day for BTC and tether is because the hammer hasn't yet dropped. So now we should get quarterly updates, well, lots of companies on exchanges fail to report their quarterly updates, so lets see what happens. But how will this be verified? Madoff had no problem showing statements of all the supposed investments that were made.
Lastly, the author, nor I guess the end result, explains why there are shady dealings to begin with. Why is the company not transparent? Maybe not every tether is printed out of thin air, but hey, just like fractional reserve banking, the banks only need 1 actual dollar for ever 9 dollars they lend out. Maybe tether is operating on a fractional reserve basis!
The only thing I think is really good for BTC is that if an issue with tether crops up, all those tethers will flood back into BTC, so the demise of stable coins can be seen as a huge initial bump for BTC. That's of course assuming you can still transfer your tethers to something. I'm of course not saying this will happen, but there is clearly a reason for all the opacity. So what is that reason?
Simply to provide a pipeline of liquidity for an ever expanding universe of trading pairs. Until you understand this, crypto isn’t a market that you trust. However for a growing number of folks, it is a market of increasing trustworthiness.
This is accomplished via the fact it is based on designed trust-lessness in an adversarial environment with bad actors operating in bad faith.
If one just wants to spout off, they should join ET.
I love this one:
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Bank of Korea Head Says Cryptocurrencies Have No Intrinsic Value
Feb 24, 2021 @ 22:22
The chief of the Bank of Korea said cryptocurrencies, including Bitcoin, do not possess inherent value. In a recent news report, Lee Ju-yeol blasted the highly volatile nature of the digital asset industry.
“There is no intrinsic value in crypto assets,” said BOK Gov. Lee Ju-yeol at a parliamentary session on 23 February.
The news report quoted lawmakers asking BOK’s chief if the recent surge in the price of BTC is temporary or not.
“It is very difficult to predict the price, but its price will be extremely volatile,” Ju-yeol added.
_______________________________________________
The man's a visionary.
I love this one:
__________________________________________
Bank of Korea Head Says Cryptocurrencies Have No Intrinsic Value
Feb 24, 2021 @ 22:22
The chief of the Bank of Korea said cryptocurrencies, including Bitcoin, do not possess inherent value. In a recent news report, Lee Ju-yeol blasted the highly volatile nature of the digital asset industry.
“There is no intrinsic value in crypto assets,” said BOK Gov. Lee Ju-yeol at a parliamentary session on 23 February.
The news report quoted lawmakers asking BOK’s chief if the recent surge in the price of BTC is temporary or not.
“It is very difficult to predict the price, but its price will be extremely volatile,” Ju-yeol added.
_______________________________________________
The man's a visionary.
Why is a company (MSTR) Buying BTC? How is this a good use of capital for a corporation that is in the business of (BI,Mobile apps, etc)
This is a company that had -7.5 million loss in 2020. They are actually borrowing money to do this, none of it makes sense, if you are losing money why do this?
This is a company that had -7.5 million loss in 2020. They are actually borrowing money to do this, none of it makes sense, if you are losing money why do this?
Fiat is losing value. MSTR used the $250M they had in cash reserves last year to buy bitcoin (replace treasury reserves with digital asset bitcoin) The value of the bitcoins purchased have gone up a lot
Cost of borrow of fiat is cheap. They issued senior convertible notes (went over subscribed, I believe, to $650M). The value of the bitcoins purchased have gone up a lot
With the latest $1B bitcoin purchase, MSTR now owns over 90,000 bitcoins worth over $4.5B. I heard on an interview that Michael Saylor has no plans to ever sell the bitcoins. If they need cash, they will borrow at very low rates using their bitcoins as collateral
https://www.cnbc.com/2021/02/24/mic...th-of-bitcoin-adding-to-massive-holdings.html
https://www.bloomberg.com/news/arti...-to-hold-bitcoin-as-collateral-for-cash-loans
Nice absorption of buyers @ $52k on Bookmap's consolidated order book of BTCUSD. I'm short around around $51.5k, stop just above $52k.
I'm hoping to scale into a swing trade to retest the $45k swing low in the next few days/early next week.
I'm hoping to scale into a swing trade to retest the $45k swing low in the next few days/early next week.
