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Bitcoin can be shorted. Bitcoin prints money ( eg tether) Bitcoin just doesn't work. It's centralized now to fix it's issues. Best of all, none is regulate

Bitcoin can be shorted. Bitcoin prints money ( eg tether) Bitcoin just doesn't work. It's centralized now to fix it's issues. Best of all, none is regulated and the whales hold the power. Even more in the future with proof of stake. There is more dilution and misunderstanding with crypto in general then I've ever seen.

psychstudio 5y ago
Bitcoin is completely unrelated to tether. Bitcoin is highly decentralised. Bitcoin is not moving to PoS. I'm not sure what your actual gripe is, but you certainly have no idea what you're talking about.
- vultour 5y ago
  Bitcoin is absolutely related to tether. Tether mints a billion coins and then exchanges them for bitcoin, voila, bitcoin price goes up.
  - antb123 5y ago
    USDT: $77B USDC, 41 + BUSD 14, + TUSD 1.2 + PAX 1 = $57B and growing faster and follow US regulations.
- NicoJuicy 5y ago
  Come again? I don't think you know what you're talking about... Simple example: https://en.m.wikipedia.org/wiki/Tether_(cryptocurrency) https://en.m.wikipedia.org/wiki/Tether_(cryptocurrency) > Research by John M. Griffin and Amin Shams in 2018 suggests that trading associated with increases in the amount of tether and associated trading at the Bitfinex exchange account for about half of the price increase in bitcoin in late 2017.
InvertedRhodium 5y ago
What is Tethers relationship to Bitcoin? I thought they had their own coin.
- 908087 5y ago
  Tether's relationship to Bitcoin is that 80%+ of the trade volume in BTC markets is Tether.
- angusturner 5y ago
  A lot of crypto trade (especially on shadier exchanges without KYC or the option to use fiat) is denominated in tether. Tether keeps printing billions of dollars with no oversight or regulation. They lied about it being backed by cash reserves, and now make a much softer claim that its backed by "some cash" and other assets (other assets include more crypto IIRC). Basically, it feels like tether is inflating the price of BTC, and the exchanges all have a vested interested in continuing to pretend tether is worth something. If there was a run on tether (i.e. everyone tries to exchange for fiat) it could be catastrophic for all of crypto. (Disclaimer: I am not a financial expert, and have just picked this up from reading about tether over the last few months).
- boc 5y ago
  One Tether is the supposed to be = to one USD which is supposed to be in Tether's bank account somewhere. They have like 16 people total and are based in a mailbox in the Caribbean and nobody in the commercial paper markets have heard of them, despite them being one of the largest buyers in the world (in theory). Their "audits" aren't really audits and there's a ton of sketchiness with the firm they chose last time they ran one. In practice they basically use their trusted position within an exchange (as the 1-to-1 representation of a US dollar) and simply create new Tethers from thin air, move them to an exchange, buy BTC, pump the price, and essentially act as a stabilizer whenever the price starts tanking. For instance they've printed over $2 Billion worth of Tether since Saturday, with absolutely no evidence that real people actually put $2B into exchanges to buy crypto. It's an amazing scam since anytime it looks like the floor is about to fall out, they print billions more and keep their position alive by pumping crypto back up. Anyways the reason it's important is because Tether and other stablecoins are supposed to be the fiat offramp in the event that you want to withdraw money from an exchange. After all, to buy BTC you really first bought Tether (or USDC) and then traded your tether for BTC a minute later. So all of the hard cash in the exchange is supposed to be represented by Tether... guess what happens when people realize their cash isn't actually there 1-to-1 like it was promised? Massive liquidity crises and all cryptocurrency falls 90%+. Be careful my friend.

psychstudio 5y ago

Bitcoin is completely unrelated to tether. Bitcoin is highly decentralised. Bitcoin is not moving to PoS. I'm not sure what your actual gripe is, but you certainly have no idea what you're talking about.

vultour 5y ago
Bitcoin is absolutely related to tether. Tether mints a billion coins and then exchanges them for bitcoin, voila, bitcoin price goes up.
- antb123 5y ago
  USDT: $77B USDC, 41 + BUSD 14, + TUSD 1.2 + PAX 1 = $57B and growing faster and follow US regulations.
NicoJuicy 5y ago
Come again? I don't think you know what you're talking about... Simple example: https://en.m.wikipedia.org/wiki/Tether_(cryptocurrency) https://en.m.wikipedia.org/wiki/Tether_(cryptocurrency) > Research by John M. Griffin and Amin Shams in 2018 suggests that trading associated with increases in the amount of tether and associated trading at the Bitfinex exchange account for about half of the price increase in bitcoin in late 2017.

InvertedRhodium 5y ago

What is Tethers relationship to Bitcoin? I thought they had their own coin.

908087 5y ago
Tether's relationship to Bitcoin is that 80%+ of the trade volume in BTC markets is Tether.
angusturner 5y ago
A lot of crypto trade (especially on shadier exchanges without KYC or the option to use fiat) is denominated in tether. Tether keeps printing billions of dollars with no oversight or regulation. They lied about it being backed by cash reserves, and now make a much softer claim that its backed by "some cash" and other assets (other assets include more crypto IIRC). Basically, it feels like tether is inflating the price of BTC, and the exchanges all have a vested interested in continuing to pretend tether is worth something. If there was a run on tether (i.e. everyone tries to exchange for fiat) it could be catastrophic for all of crypto. (Disclaimer: I am not a financial expert, and have just picked this up from reading about tether over the last few months).
boc 5y ago
One Tether is the supposed to be = to one USD which is supposed to be in Tether's bank account somewhere. They have like 16 people total and are based in a mailbox in the Caribbean and nobody in the commercial paper markets have heard of them, despite them being one of the largest buyers in the world (in theory). Their "audits" aren't really audits and there's a ton of sketchiness with the firm they chose last time they ran one. In practice they basically use their trusted position within an exchange (as the 1-to-1 representation of a US dollar) and simply create new Tethers from thin air, move them to an exchange, buy BTC, pump the price, and essentially act as a stabilizer whenever the price starts tanking. For instance they've printed over $2 Billion worth of Tether since Saturday, with absolutely no evidence that real people actually put $2B into exchanges to buy crypto. It's an amazing scam since anytime it looks like the floor is about to fall out, they print billions more and keep their position alive by pumping crypto back up. Anyways the reason it's important is because Tether and other stablecoins are supposed to be the fiat offramp in the event that you want to withdraw money from an exchange. After all, to buy BTC you really first bought Tether (or USDC) and then traded your tether for BTC a minute later. So all of the hard cash in the exchange is supposed to be represented by Tether... guess what happens when people realize their cash isn't actually there 1-to-1 like it was promised? Massive liquidity crises and all cryptocurrency falls 90%+. Be careful my friend.