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Bitcoin is not in a stable state. Price rises every time Tether decides to fabricate 20-30 million dollars they don't have, which coincidentally happens every t
by sparkie 9y ago
Bitcoin is not in a stable state. Price rises every time Tether decides to fabricate 20-30 million dollars they don't have, which coincidentally happens every time bitcoin starts to lose steam and the price drops a little.
> no major exchange going under
Not yet, but every exchange trading Tether will probably sink, along with the price of bitcoin, when Tether (aka Bitfinix) can no longer keep up their fraud.
- charlesdm 9y agoCan $20m really push up the price that much, when talking about a $125bn market cap? Seems like a pittance.
- sparkie 9y agoIt's 20m every couple of days now. over 200m printed in the past month.
- charlesdm 9y agoWhich exchanges does one use if you want to avoid Tether? Gemini? Gdax?
- maxerickson 9y agoThe market cap isn't the right benchmark, there are too many friction points in trading bitcoin for any holder to respond to any buy offer. Ideally you'd measure the liquidity of individual markets and between them.
- ericb 9y agoI thought I saw some threads a while back saying that tethers had been audited, and the speculation that they were not actually backed wasn't true. Am I imagining that?