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Bitcoin could hit $10.000 any moment now. Who is buying and why?
by rejschaap 9y ago
Bitcoin could hit $10.000 any moment now. Who is buying and why?
- jmkni 9y agoPersonally I wonder if the rise in Bitcoin could be linked to Russian sanctions like the Magninsky act? Could now blacklisted Oligarchs who were previously using western financial institutions to launder their money now be using Bitcoin instead?
- lawlessone 9y agoit would probably be a much bigger run up if they did > From what i have heard anyway the best way to do that through bitcoin is to pay someone to mine it. That way you get new "clean" coins.
- jmkni 9y agoThat makes a lot of sense, that way the person is also running a business etc also
- zdkl 9y agoVC-like money? The risk/reward schedule on bitcoin is not that far out of ordinary when compared to market conditions on "comparable" investments. For some generous definition of comparable.
- empath75 9y agoIf you go to bitcoinity and check the price of bitcoin, the first exchange they list is bitfinex. The price they list is in USD. That’s actually wrong. There are no dollars on bitfinex. They use a currency called tethers which they claim is backed 1-1 by dollars but almost certainly isn’t. They’ve created close to a billion dollars worth of that token during this run up. Rumor has it that they’re using those tethers to buy btc on their own exchange and manipulate the price. Once people realize those tethers are worthless and they can’t withdraw dollars, they’ll start using them to buy btc at any price and withdraw them on the exchange causing a massive run up in btc price as they make a run on the bank. It’s not really an increase in btc price but hyperinflation of tethers.
- pc86 9y ago> They use a currency called tethers which they claim is backed 1-1 by dollars Didn't they just recently say they're not backed 1-1 by USD?