6 ms·

If BTC's price is manipulated anywhere, the market adjusts for it everywhere.

by MystK 6y ago

WMX123 6y ago
That makes no sense. Again, how can someone manipulate Bitcoin on Coinbase with Tether when Tether is NOT accepted?
- lippel82 6y ago
  It does make sense. The price of BTC in USD is roughly the same on every exchange. If some exchanges allow USD and USDT interchangeably, the BTC price can be driven up by trades that are conducted in USDT. The price on Coinbase will adapt to that.
  - WMX123 6y ago
    how will Coinbase "adapt"? it's a walled garden.
    - qqii 6y ago
      Individuals and bots will take advantage of the price discrepancies between exchanges by purchasing BTC on the cheaper exchange, sending the BTC to the more expensive exchange and selling it. As long as its possible to do this different exchanges normally stay within a few % of each other.
- xenihn 6y ago
  Scenario: Eth is $400 on Coinbase, Bitcoin is $12000 on Coinbase Print 1,000,000 Tether Buy $1,000,000 of Eth on an exchange that supports Tether Sell $1,000,000 of Eth on Coinbase Buy $900,000 (arbitrary post-sale amount from selling Eth) of Bitcoin on Coinbase Another scenario: Bitcoin is $12000 on Coinbase Bitcoin is $12000 on another exchange that supports Tether Print 1,000,000 Tether Buy $1,000,000 of Bitcoin on the exchange that supports Tether Bitcoin is now $12050 on another exchange Coinbase price of BTC rises as arbitrage bots and manual traders purchase cheaper Bitcoin on Coinbase and sell it for profit on the other exchange until prices equalize
  - WMX123 6y ago
    I still don't see that artificially inflating coinbase bitcoin. plus only bitfinance would be able to print/create tether. also, there's no evidence that companies what you claim they could do.
    - xenihn 6y ago
      >I still don't see that artificially inflating coinbase bitcoin. I don't know how to explain it any more clearly to you. >plus only bitfinance would be able to print/create tether Yes, but whoever controls the printing could then use the Tethers on any exchange that supports them. >also, there's no evidence that companies what you claim they could do You asked for an explanation of how it could be done, not evidence.
      - WMX123 6y ago
        The explanation is clear, but I just don't see it as being particularly convincing. Sure, I didn't ask for evidence. Now, I am. Where's your evidence?
        xenihn 6y ago
        >The explanation is clear, but I just don't see it as being particularly convincing. Why not? >Sure, I didn't ask for evidence. Now, I am. Where's your evidence? You need to specify what exactly you want evidence for. Then you need to google it, because that's what I'm going to do, assuming you want evidence of something like arbitrage.

If BTC's price is manipulated anywhere, the market adjusts for it everywhere.

by MystK 6y ago

If BTC's price is manipulated anywhere, the market adjusts for it everywhere.

WMX123 6y ago

That makes no sense. Again, how can someone manipulate Bitcoin on Coinbase with Tether when Tether is NOT accepted?

lippel82 6y ago
It does make sense. The price of BTC in USD is roughly the same on every exchange. If some exchanges allow USD and USDT interchangeably, the BTC price can be driven up by trades that are conducted in USDT. The price on Coinbase will adapt to that.
- WMX123 6y ago
  how will Coinbase "adapt"? it's a walled garden.
  - qqii 6y ago
    Individuals and bots will take advantage of the price discrepancies between exchanges by purchasing BTC on the cheaper exchange, sending the BTC to the more expensive exchange and selling it. As long as its possible to do this different exchanges normally stay within a few % of each other.
xenihn 6y ago
Scenario: Eth is $400 on Coinbase, Bitcoin is $12000 on Coinbase Print 1,000,000 Tether Buy $1,000,000 of Eth on an exchange that supports Tether Sell $1,000,000 of Eth on Coinbase Buy $900,000 (arbitrary post-sale amount from selling Eth) of Bitcoin on Coinbase Another scenario: Bitcoin is $12000 on Coinbase Bitcoin is $12000 on another exchange that supports Tether Print 1,000,000 Tether Buy $1,000,000 of Bitcoin on the exchange that supports Tether Bitcoin is now $12050 on another exchange Coinbase price of BTC rises as arbitrage bots and manual traders purchase cheaper Bitcoin on Coinbase and sell it for profit on the other exchange until prices equalize
- WMX123 6y ago
  I still don't see that artificially inflating coinbase bitcoin. plus only bitfinance would be able to print/create tether. also, there's no evidence that companies what you claim they could do.
  - xenihn 6y ago
    >I still don't see that artificially inflating coinbase bitcoin. I don't know how to explain it any more clearly to you. >plus only bitfinance would be able to print/create tether Yes, but whoever controls the printing could then use the Tethers on any exchange that supports them. >also, there's no evidence that companies what you claim they could do You asked for an explanation of how it could be done, not evidence.
    - WMX123 6y ago
      The explanation is clear, but I just don't see it as being particularly convincing. Sure, I didn't ask for evidence. Now, I am. Where's your evidence?
      - xenihn 6y ago
        >The explanation is clear, but I just don't see it as being particularly convincing. Why not? >Sure, I didn't ask for evidence. Now, I am. Where's your evidence? You need to specify what exactly you want evidence for. Then you need to google it, because that's what I'm going to do, assuming you want evidence of something like arbitrage.