3 ms·
Except one of the exchanges is literally printing 100s of millions of dollars of fake money a month and using it to pump the price. The ‘price’ of bitcoin on t
by empath75 9y ago
Except one of the exchanges is literally printing 100s of millions of dollars of fake money a month and using it to pump the price.
The ‘price’ of bitcoin on the largest exchange isn’t actually based on dollars it’s a cryptocurrency called ‘tether’ which is supposedly backed by dollars but isn’t.
- csomar 9y agoExcept that you are not a real person but a slightly improved AI that goes on the internet and start commenting. If I don't need to have proof I can say anything. How do you know the same is not happening with the big banks we have? The difference in bitcoin is that trading is not limited to a single exchange. The amount of Tether is very small compared to the crypto market. (0.6bn to 250bn)
- CamelCaseName 9y ago>How do you know the same is not happening with the big banks we have? Whataboutism, and there is substantially less potential for everything to disappear, more transparency, and decades (centuries?) of regulation. >The difference in bitcoin is that trading is not limited to a single exchange. The amount of Tether is very small compared to the crypto market. (0.6bn to 250bn) Look at the tether volume vs. the BTC volume and you will get a very different story. It's misleading to talk about Bitcoin's market cap when such a huge amount of it is lost forever or not actively traded/moving the market.
- csomar 9y agoIt is not whataboutism. That would be true if I pointed that banks where doing something similar. What I pointed to is that you have absolutely no basis for your accusations. If you are going to do that with every business, then you can't trust neither of them. Even rating agencies can be shady.