seppel

32 ms·

301.
by seppel 9y ago
> My understanding is Bitfinex will take your USD and convert to USDT which you can then use to buy crypto. So, who is selling BTC for USDT and why? Who is selling so many BTCs for USDT that they have to print 100 million USDT every othe
302.
by seppel 9y ago
> There's a reason to temporarily move from say BTC to USDT But what we are seeing does not look like a temporary move. All the printed USDT are "somewhere", and I want to understand where and why.
303.
by seppel 9y ago
> Instead, if you think that BTC is at a peak in the short term and you simply want to sell at the peak and get back in once it drops, selling to USDT is just fine. That way you can buy back BTC once price drops. Yes, I get that. But as
304.
by seppel 9y ago
> They set up a bunch of trades going forward a couple months and they just leave it. Yeah, why not. But does it explain the increasing demand for USDT? Why are they printing Tethers like crazy? > The problem with Bitcoin is that what
305.
by seppel 9y ago
> On many international exchanges, USDT are the easiest way to convert BTC to a (supposedly) USD-backed asset. I'm sorry, but I cannot follow. Let's say you want to sell a BTC, current worth about 10k. So you go to a shady exch
306.
by seppel 9y ago
Ok, so they printed billions of Tethers and bought BTC with them, I get this part. What I don't get is: This means somebody sold BTC for billions of USDT (instead USD!). Who is doing this? Why would you sell for USDT instead USD? Maybe
307.
by seppel 9y ago
> but thought that there would be some concrete list of all the primes that we had discovered It is trivial (in computational power) to find a random prime in order of 2^2048. So such a list would be way to big to store somewhere and a