Bitcoin Price Thread

RedDuke said:
if Tethers have no value to you, and 80% of Bitcoin is traded in Tethers, what is Bitcoin value then???
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We're having a miscommunication here.

I noticed you didn't look into your analogy of early internet companies and crypto companies/people having banking/financial system issues. Early internet companies did not have banking/financial system problems

What I meant that Tether has no value to me is that I do not use Tether. There is no reason for me to use Tether when there are other stablecoins

You and others that believe in Tether fud find so much value in Tether that you spend a lot of time researching it

Bitcoin has value to me (and my family). Currently, I have over 6 figures $ amount our bank accounts. Never in my life did I have such value and that's because of bitcoin

Furthermore, bitcoin is allowing us to purchase a Tesla EV without any loan. That's how much value bitcoin has to me and my family

Hope that clears it up. This is a bitcoin price thread, but Tether posts show up from you and others and as I said I only chimed in due to the NY AG news I came across. I hope to never make that mistake as Tether has no value to me and do not want to spend any more time on it :D
 
Say I have fiat but want some fresh new promising crypto (ALT) that doesn’t have a pairing with BTC.

I interact with a fiat on-ramp to obtain BTC.
Then I move the BTC to a venue that has a BTC/USDT pair. Now I have USDT that I can move to a venue that has USDT/ETH.
Finally I can get to the pool that has ETH/ALT.

This all takes about 15-30min depending on time of day and which protocol or chain I interact with.

This ALT hits some milestones and goes 10x within the week.

I reverse the above process and at any time could stop at any point to be risk-on or risk-off. I could also cash out to fiat.

USDT was simply a peg. I could also use BUSD, USDC, TUSD, DAI as the pipe or depending on venue not have to pipe through a stablecoin at all.

Lot’s of flexibility and after the fiat on-ramp all permission-less.
 
johnarb said:
We're having a miscommunication here.

I noticed you didn't look into your analogy of early internet companies and crypto companies/people having banking/financial system issues. Early internet companies did not have banking/financial system problems

What I meant that Tether has no value to me is that I do not use Tether. There is no reason for me to use Tether when there are other stablecoins

You and others that believe in Tether fud find so much value in Tether that you spend a lot of time researching it

Bitcoin has value to me (and my family). Currently, I have over 6 figures $ amount our bank accounts. Never in my life did I have such value and that's because of bitcoin

Furthermore, bitcoin is allowing us to purchase a Tesla EV without any loan. That's how much value bitcoin has to me and my family

Hope that clears it up. This is a bitcoin price thread, but Tether posts show up from you and others and as I said I only chimed in due to the NY AG news I came across. I hope to never make that mistake as Tether has no value to me and do not want to spend any more time on it :D
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first of all as I said before, congrats on making decent coin. As a trader, when people make money I am always happy to hear such stories.

as far as value, my main point is that we have no idea what BTC real value is. For example, I know the real value of gold, oil euro and etc. This is due to tethers. If reputable audit comes out and confirms that Tethers are indeed backed as they claim, then the current price is indeed the value, and most likely your 6 figure account will turn into 7 figure account.

but if Tethers are backed by thin air, your 6 figure account could easily got back to 5 and even 4 figure account.

as far as Tesla purchase, the key word is might.

once again if something represent 80% of volume that determines a price of that asset, we better be certain it is not a fraud.
 
Sprout said:
Say I have fiat but want some fresh new promising crypto (ALT) that doesn’t have a pairing with BTC.

I interact with a fiat on-ramp to obtain BTC.
Then I move the BTC to a venue that has a BTC/USDT pair. Now I have USDT that I can move to a venue that has USDT/ETH.
Finally I can get to the pool that has ETH/ALT.

This all takes about 15-30min depending on time of day and which protocol or chain I interact with.

This ALT hits some milestones and goes 10x within the week.

I reverse the above process and at any time could stop at any point to be risk-on or risk-off. I could also cash out to fiat.

USDT was simply a peg. I could also use BUSD, USDC, TUSD, DAI as the pipe or depending on venue not have to pipe through a stablecoin at all.

Lot’s of flexibility and after the fiat on-ramp all permission-less.
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Hm, I do not need to do such moves when I buy gold and silver for example. Or move money from one to the other. Takes few seconds. Just sain....:D:D:D
 
RedDuke said:
Hm, I do not need to do such moves when I buy gold and silver for example. Or move money from one to the other. Takes few seconds. Just sain....:D:D:D
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Yeah, but neither of those can be used as currency when you’re out and about, crypto can be. Your precious metals also don’t frequently give you the opportunity to make magnitudes on your capital either.

Folks who understand the value proposition has everything you have plus more.

fwiw,
https://twitter.com/x/status/1365625627550834693

Edit: The point is that tether is used as a peg to other digital assets and the fact that alternatives exist keeps it in line.
 
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Sprout said:
Yeah, but neither of those can be used as currency when you’re out and about, crypto can be. Your precious metals also don’t frequently give you the opportunity to make magnitudes on your capital either.

Folks who understand the value proposition has everything you have plus more.

fwiw,
https://twitter.com/x/status/1365625627550834693
More...


Correct about magnitude of moves. That being said the point of debate is if BTC has value. is it worth sub 1k or is it above 100k? We currently do not know. Let it is traded in real money and audited stable coins only, then we will know.
 
RedDuke said:
first of all as I said before, congrats on making decent coin. As a trader, when people make money I am always happy to hear such stories.
... most likely your 6 figure account will turn into 7 figure account.

but if Tethers are backed by thin air, your 6 figure account could easily got back to 5 and even 4 figure account.

as far as Tesla purchase, the key word is might.
...
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Thank you for the congrats.

Sorry I was not very clear, I already cashed out the bitcoins to US $ and the 6 figure bank account balance cannot fluctuate anymore.

The Tesla EV purchase is already made and the US $ for the purchase is already in the bank, but Tesla is an odd car company, you have to wait for them to make the car and deliver to you in 4-6 weeks

I completed the planned bitcoin sale that I mentioned in previous posts.

I'm still hodling most of the crypto portfolio
 
johnarb said:
Thank you for the congrats.

Sorry I was not very clear, I already cashed out the bitcoins to US $ and the 6 figure bank account balance cannot fluctuate anymore.

The Tesla EV purchase is already made and the US $ for the purchase is already in the bank, but Tesla is an odd car company, you have to wait for them to make the car and deliver to you in 4-6 weeks

I completed the planned bitcoin sale that I mentioned in previous posts.

I'm still hodling most of the crypto portfolio
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perfect. Enjoy the winning !!!
 
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