Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
The only thing that I'm uncertain of is whether these dumps are being started by the imbeciles that I was talking about above or by Tether and Bittfinex, two entities that for some reason, nobody can stop.
I dont believe that Ifinex is provoking this fall. In my opinion, its the investment funds which operate in CBOE and CME which are dumping bitcoins to win their bets in these fiat casinos. Even some mining companies might be involved in these schemes.
If Ifinex is having any participation in this, is because it stopped printing tether at will, and is using this fall as a smoke screen to get rid of subpoenas. Morally speaking, I dont see any issue with tether printing, since governments do that everyday and nobody gives a fuck about it.
"I don't see any issue with tether printing" - What in the actual fuck?
Before Tether popped up into the scene, Bitcoin was going up slow and steady, following the S curve almost perfectly. Then these fuckers started printing hundreds of millions of USDT to manipulate both btc and the altcoin markets, inflating them to mind-bending prices (Example: EMC2 dead shitcoin going to 800m in marketcap or Digibyte going from 16 satoshi to over 2200 in days, and countless of other examples of shitcoins going higher than even Space X/Dropbox/Uber valuations)
These manipulations are only hurting the ecosystems and delay the adoption by years because, once the markets start collapsing, you will have the average Joe exiting crypto in panic, stampedes from altcoin bagholders who sell their alts > btc > usd, bitcoin shorters and most likely Tether participating at the collapse by printing hundreds of millions of usd for even more shorting.
Without these fucking losers manipulating Bitcoin (Gox, Tether), we would have probably had an adoption closer to this graph (more likely for the past 2-3 years), and what's ironic is that we might have been at a price similar to the current one or even higher.
The fact that Tether still exists in this form, completely un-auditable, is disgusting