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There is a lot of fear that unbacked usdt has been the driving force behind the recent crypto pump. If this turns out to be true this will be 100x worse than mt gox disaster for crypto. The fact that Tether nor Bitfinex has allowed their bank accounts to be examined by an independed source is extremely suspicious. The fact that newly minted usdt continues to be used to prop up the markets without any explanation as to where the usd is coming from is extremely suspicious. The fact there is no way for an individual, group of company to buy or sell usdt tokens using usd fiat is extremely suspicious.
I'm posting this hoping someone can show me some proof this is nothing to worry about. PROOF.
I'm posting this hoping someone can show me some proof this is nothing to worry about. PROOF.
Is any proof out there that exchanges have actually provided real usd to exchange for the usdt tokens? and where does this usd come from - exchanges offering usdt do not offer usd trading nor .deal directly with usd fiat from customers in any way. If the exchanges are selling crypto for usd some place outside of their own exchange then using that usd to attain usdt is there any proof of this? because if all we have is the theory that this is how it's supposed to work, that doesn't cut it.
I understand the purpose and use of Tether, it is to allow traders to get into and out of crypto markets without cashing out directly to fiat. What doesn't make sense to me is if usdt is never been bought directly with usd then where does the usd come from to back up each usdt? and if usdt is never sold directly back to usd, why does it even matter whether Tether can cover existing usdt with usd in bank accounts? This is where my brain starts hurting because I just can't get my head wrapped around how this has worked over the last few years. It seems like it's way too easy for usdt created from nothing to have pumped the 2017 market and is keeping the markets from collapsing here in 2018. What am I missing that contradicts that this isn't what has happened?
So I went to the Tether website and there is no way to buy or sell USDT for or to USD. Rather, the only way I see to buy it is to go to an exchange like Binance and use bitcoin to buy usdt. The only way to sell usdt is to sell it back to bitcoin on an exchange. Tether does not deal with USD whatsoever, not directly nor through exchanges.
Is this correct? because if it is, where is the USD that are supposed to be backing all these usdt tokens coming from? and how are they able to print new usdt at will - where is the usd coming from to support these new usdt tokens? Apparently there isn't even a way to create a wallet on Tether.io much less be able to buy or sell them for usd. https://wallet.tether.to/app/#!/signup
I'm really confused by this, please explain.
Is this correct? because if it is, where is the USD that are supposed to be backing all these usdt tokens coming from? and how are they able to print new usdt at will - where is the usd coming from to support these new usdt tokens? Apparently there isn't even a way to create a wallet on Tether.io much less be able to buy or sell them for usd. https://wallet.tether.to/app/#!/signup
I'm really confused by this, please explain.
So I went to the Tether website and there is no way to buy or sell USDT for or to USD. Rather, the only way I see to buy it is to go to an exchange like Binance and use bitcoin to buy usdt. The only way to sell usdt is to sell it back to bitcoin on an exchange. Tether does not deal with USD whatsoever, not directly nor through exchanges.
Is this correct? because if it is, where is the USD that are supposed to be backing all these usdt tokens coming from? and how are they able to print new usdt at will - where is the usd coming from to support these new usdt tokens? Apparently there isn't even a way to create a wallet on Tether.io much less be able to buy or sell them for usd. https://wallet.tether.to/app/#!/signup
I'm really confused by this, please explain.
Is this correct? because if it is, where is the USD that are supposed to be backing all these usdt tokens coming from? and how are they able to print new usdt at will - where is the usd coming from to support these new usdt tokens? Apparently there isn't even a way to create a wallet on Tether.io much less be able to buy or sell them for usd. https://wallet.tether.to/app/#!/signup
I'm really confused by this, please explain.
No top 10 coin is going to go 30x+, suggestions like Dash or Neo are idiotic. The coins that will do that are very much unkown because they haven't pumped yet, finding them now is like looking for a needle in a haystack while blind folded. So, the best thing is to watch the exchanges for coins that double or triple in value quickly and show strong volume, then buy it for the final 10x+ run. This seems boring, difficult and tedious, because it is. If trading alts was easy everyone would be millionaires and nobody would care about trading alts.
So why is he always spouting off about how btc is in a bubble and will fall hard soon and continues to be proven wrong but he just keeps flapping his gums? Is he that butthurt he didn't buy when it was cheap or is he that stupid he doesn't understand what btc is?
All the sharks in the sharktank are fucking assholes, but he is really embarrasing himself.
All the sharks in the sharktank are fucking assholes, but he is really embarrasing himself.
Inflation is not what a government indicator says. Inflation is what the man on the street experiences, when he takes his dollar to a store. The government cannot hide inflation for too long.
These kind of monetary policies will provide a boost to Bitcoin, once people realize it.
These kind of monetary policies will provide a boost to Bitcoin, once people realize it.
Well in that case, 6-8% is complete bullshit. Gas is very cheap compared to the last decade, groceries aside from beef show very little price change, things like car parts, clothes, utility bills, home improvement supplies, tools, etc etc etc do not show any significant inflation. What has gone through the roof is real estate in many parts of the US, and of course stocks are way up.
I see no signs of the kind of inflation in everyday purchaes that people are talking about in this thread. It may happen, but it's not happening as far as I can tell.Most likely it is just hype to get the btc price to keep rising, but it has no basis in fact.
B2x is supported by coinbase and will be traded within hours. Say what you want, this fork is different - this one has miner support and will have some real value and unlike the other 2 shitcoins will take some away from btc.
Coinbase will quote it as "B2X", the futures put it at 0.15 BTC
The worst danger IMO is Bitpay, but they will follow the money at the end. Sooooo There is 15% risk !
Yeah, like Bitmex traders are never wrong.
B2x is supported by coinbase and will be traded within hours. Say what you want, this fork is different - this one has miner support and will have some real value and unlike the other 2 shitcoins will take some away from btc.
Re: Tezos Founders Enter Legal Battle for Control of $400m in Raised ICO Funds
Sounds like a great time to invest in Tezos if you ever wanted to get on board (not that I've ever had much interest in them)
The tezzies aren't released yet, you can't invest in Tezos now. What I am baffled by is the foundation supposedly hasn't released money for development. The development is what the money is for so this makes no sense. Gevers has said he is one of the largest ico buyers, so again this makes no sense. Unless the Breitmans have just been trying to take money for yachts and beach homes, Gevers actions make so sense at all.
Whether the gamble pays off is completely irrelavent. What would make sense is selling the motorcyle and whatever cars that aren't necessary, other toys and maybe even downgrading their home assuming they had significant equity. What the parents have chosen to do with little kids in tow is madness, and these kids should be taken away and put into foster care because it's pretty obvious they don't care enough about them to provide the basic necessities of modern life. If btc goes into another bear mkt, this story will probably be repeated as an example of the harm btc can do - but that's not the story, the story is bad parenting.
Oh dear lord, this is the kind of crazy stuff that happens when you have a bubble.
In the 90s, there were stories of people quitting their day jobs to become online day traders. And it's a great plan as long as the market keeps going up. The bitcoin market right now is reminiscent of that, and it makes me extremely nervous. That's why I've been buying some gold & silver. Those things are most certainly not in a bubble.
The end stage, the pre-popping of a bubble looks exactly like this: Everyone starts piling in to buy whatever is inflating. People start getting manic, and the price just keeps going up and up--and then it pops. I do hope that's not the case with crypto right now. It's so hard to tell, but it just seems like a replay of crazy markets I've seen in the past.
In the 90s, there were stories of people quitting their day jobs to become online day traders. And it's a great plan as long as the market keeps going up. The bitcoin market right now is reminiscent of that, and it makes me extremely nervous. That's why I've been buying some gold & silver. Those things are most certainly not in a bubble.
The end stage, the pre-popping of a bubble looks exactly like this: Everyone starts piling in to buy whatever is inflating. People start getting manic, and the price just keeps going up and up--and then it pops. I do hope that's not the case with crypto right now. It's so hard to tell, but it just seems like a replay of crazy markets I've seen in the past.
This is the sort of stuff you see from dysfunctional people, this is not an indicator of whether this is a bubble. No responsible parent would do this to their kids no matter how confident they were in some market.
I'm calling bullshit on the story to begin with, everyone looks too happy and healthy to be in such a desperate situation.
Even if the price goes to $20k by 2020 like the father expects we are talking about 3 years of putting his little kids through a homeless situation so he doesn't have to worry about working anymore. Just a disgusting example of parenthood.
Re: 2 Days back i sold 17 BTC for 4968 $ on bittrex - i regret
In my opinion, after everyone gets their forked free coins, they will dump most of their bitcoins that they are buying right now. The price is currently pumped, because of the rumor of "free money" if you buy bitcoin now and wait for the fork. However, once they get it, people will want to sell their excess bitcoins, so you still have hope to buy them even cheaper than for what you had sold them. But the question is, do you really want to buy back all of them? I think it's worth to diversify, especially with a big money like yours.
Same thoughts before last fork but didn't happen.
They should have done this 2 years ago. This is a very wreckless thing to do with little kids I'm amazed at the stupidity it could be several more years before the next pump. If this story is factual, this guy gets irresponsible father of the year award. Raising kids is about stability, not about risking everything for riches - what a Fucktwit.
Re: ✅ DuckDice.io 🎲 MAX 2K Faucet 🎲 120%Deposit Bonus 🎲 1%Edge 🎲 Fair 🎲 Chat 🎲
After soo many scam accusations on duckdice, I still se people depositing money on their website. Well I don't know much about the scam but the people who have given him negative trust are the most trusted people in this forum. So I would probably stay away from duckdice
The reason why people still deposit their BTC is because Bitcointalk isn't the only bitcoin forum. There is Bitcoin.com forum, Bitcoin Reddit and there is the organic google traffic.
People also don't always speak english so they don't understand when a site is having issues. To play dice you don't need perfect english, since its mostly numbers.
The people who gave negative trust didn't really put their attention into the case.
And since people are still using DuckDice it means that there is nothing shady, dice is a simple game, you deposit, you win, you withdraw. DuckDice issue was with Bonuses (and we have refunded users deposit at full amount) not the core features of dice itself.
Here is the hole story: duckdice scam
Let me know if you did not understand something?
There are always clueless people who continue to play at a shady site and this confirms absolutely nothing!
The issue was not the bonus, your issue was that you canceled the whole balance including deposits and winnings. I know that you live in a separate world where you also ingnore negative feedbacks and the reality, but if you owe 5 BTC winnings it is not sufficient to give the deposit back!
Stop telling it over and over again. Go find another accusation or just go back to your hole.
Fuck you, I'd be livid if Duckdice stole 7 btc from me too!
This story makes my stomach turn, Duckdice should be shut down and the owners put in jail.