Is anyone else starting to become a bit excited?

stockshares · 15-01-2021 02:16PM

TXPTGR1 wrote: »

Replace federal reserve with Tether
Bitfinex will have to answer in court for their scam
US dollars are backed by military might
I know which I’d bet on

How dangerous is this. Tether reveal they have a large position in Bitcoin .
https://decrypt.co/54225/tethers-offshore-bank-discloses-large-position-in-bitcoin

Quote
So, the question is: Is Tether backed, in part, by Bitcoin? If so, a crash in the price of Bitcoin could reduce investors’ ability to remove funds. And the answer is...unclear.

Tether’s last published transparency update, from June 1, 2018, claims a total of $2.54 billion in USD distributed across two bank accounts. That amount was more than its reported market cap at the time.

A letter produced by Tether from Deltec, dated November 1, 2018, seemingly confirmed that Tether was a client, though it used creative wording to discuss how many dollars were in the account: “We hereby confirm that, at the close of business on October 31, 2018, the portfolio cash value of your account with our bank was US$1,831,322,828.” (Emphasis ours.)

Moreover, Deltec hasn’t divulged which clients it’s holding Bitcoin for, as Tether isn’t Deltec’s only customer. In fact, at least one other crypto company seems to use it as well, crypto derivatives exchange FTX.

So, this could all be much ado about nothing, smoke without fire.

But others find it curious, especially as crypto exchange Bitfinex, which shares a leadership team with Tether, has been rumored to own a large stake in Deltec.
Tether isn’t just the subject of rumors. It’s also the subject of a New York Attorney General’s Office investigation. The NYAG has been looking into whether Bitfinex gave Tether loans to hide $1 billion in losses.

seannash · 15-01-2021 02:20PM

Bruno Mannheim wrote: »

Chainlink ATH - get ready

Anyone have DOT, this one could 5x in 2021

I keep waiting for Cardano to move but its still hovering around 30

Dante7 · 15-01-2021 02:25PM

$LINK. F*ckin hell. Blitzed through ATH.

banie01 · 15-01-2021 02:28PM

Frozen Veg wrote: »

Chainlink didn't really bull the same as others recently and didn't reach its ATH.

Now is it's time.

This makes me happy!

Frozen Veg · 15-01-2021 02:29PM

Link wow.

Bruno Mannheim · 15-01-2021 02:32PM

seannash wrote: »

I keep waiting for Cardano to move but its still hovering around 30

thats when you should be accumulating more
dont wait til its too late

Theta and DGB also havent popped

Bruno Mannheim · 15-01-2021 02:36PM

remember when Link broke its old ATH of approx $5 and went on a 300% rally to about $20?

could we see the same again ?

PO!NT · 15-01-2021 02:42PM

Why is Chainlink increasing?

Dohnjoe · 15-01-2021 02:45PM

Bruno Mannheim wrote: »

thats when you should be accumulating more
dont wait til its too late

Theta and DGB also havent popped

Theta most certainly has (it's up 2000% in a year) and DGB had it's own run mid-year. I know it's crypto and anything can happen, but the market usually has a decent memory.

Dohnjoe · 15-01-2021 02:48PM

A few more alts picking up now, heading up faster than BTC/Eth

Bruno Mannheim · 15-01-2021 03:04PM

volume is slowly building on DGB, the last couple times this happened it rallied nicely

maninasia · 15-01-2021 03:37PM

OEP wrote: »

What I mean by "a thing" is widely adopted and used. Nothing to do with making x times your investment

Aave went from 300k to 3 billion in assets in a year. So it's already well on its way. There's still time to get into this DeFi area too which is the crazy thing.

KilOit · 15-01-2021 04:27PM

maninasia wrote: »

Aave went from 300k to 3 billion in assets in a year. So it's already well on its way. There's still time to get into this DeFi area too which is the crazy thing.

Few wealthy people now with that coin. Got an airdrop of it back in jan 2018, remember looking at the wallet in 2019 and it dropped to. 003 cents per old Aave coin, mental to think if I put €100 in it then it'll be worth 50k now

Frozen Veg · 15-01-2021 04:31PM

Bruno Mannheim wrote: »

Chainlink ATH - get ready

Anyone have DOT, this one could 5x in 2021

What's the appeal with DOT?

KilOit · 15-01-2021 04:35PM

Frozen Veg wrote: »

What's the appeal with DOT?

Friendly and genuine I guess

Thargor · 15-01-2021 04:38PM

Eth banging on the glass ceiling over and over again but always falling back...

One More Toy · 15-01-2021 07:17PM

Lads I'm after logging into MTGox to see how much crypto I had from the very early days. Forgot all about it, this was long before I had a hardware wallet.

I'm actually sickened by the amount I kept on exchange....like histeric.

I could cry

seannash · 15-01-2021 07:49PM

One More Toy wrote: »

Lads I'm after logging into MTGox to see how much crypto I had from the very early days. Forgot all about it, this was long before I had a hardware wallet.

I'm actually sickened by the amount I kept on exchange....like histeric.

I could cry

Dont keep us in suspense

Str8outtaWuhan · 15-01-2021 07:57PM

Bruno Mannheim wrote: »

volume is slowly building on DGB, the last couple times this happened it rallied nicely

which exchanges listing DGB?

One More Toy · 15-01-2021 08:09PM

seannash wrote: »

Dont keep us in suspense

At today's prices... Enough to buy a nice German car

Fcuk it, I may have sold years ago so can't really look back and think of what might have been

Dante7 · 15-01-2021 08:21PM

One More Toy wrote: »

At today's prices... Enough to buy a nice German car

Fcuk it, I may have sold years ago so can't really look back and think of what might have been

FFS, a car. If I still had the BTC I spent on crap and lost in 2013 I could now buy a housing estate.

KilOit · 15-01-2021 08:40PM

One More Toy wrote: »

At today's prices... Enough to buy a nice German car

Fcuk it, I may have sold years ago so can't really look back and think of what might have been

Trust me if you had access you would of sold in bits over the years and maybe afforded a decent second hand Japanese car

One More Toy · 15-01-2021 08:54PM

KilOit wrote: »

Trust me if you had access you would of sold in bits over the years and maybe afforded a decent second hand Japanese car

More than likely!

stockshares · 15-01-2021 09:16PM

stockshares wrote: »

How dangerous is this. Tether reveal they have a large position in Bitcoin .
https://decrypt.co/54225/tethers-offshore-bank-discloses-large-position-in-bitcoin

Quote
So, the question is: Is Tether backed, in part, by Bitcoin? If so, a crash in the price of Bitcoin could reduce investors’ ability to remove funds. And the answer is...unclear.

Tether’s last published transparency update, from June 1, 2018, claims a total of $2.54 billion in USD distributed across two bank accounts. That amount was more than its reported market cap at the time.

A letter produced by Tether from Deltec, dated November 1, 2018, seemingly confirmed that Tether was a client, though it used creative wording to discuss how many dollars were in the account: “We hereby confirm that, at the close of business on October 31, 2018, the portfolio cash value of your account with our bank was US$1,831,322,828.” (Emphasis ours.)

Moreover, Deltec hasn’t divulged which clients it’s holding Bitcoin for, as Tether isn’t Deltec’s only customer. In fact, at least one other crypto company seems to use it as well, crypto derivatives exchange FTX.

So, this could all be much ado about nothing, smoke without fire.

But others find it curious, especially as crypto exchange Bitfinex, which shares a leadership team with Tether, has been rumored to own a large stake in Deltec.
Tether isn’t just the subject of rumors. It’s also the subject of a New York Attorney General’s Office investigation. The NYAG has been looking into whether Bitfinex gave Tether loans to hide $1 billion in losses.

More on Tether, there might be some evidence of Fraud

https://twitter.com/ExkrementKoin/status/1349962428277284866?s=19

https://twitter.com/ExkrementKoin/status/1350164799615873031?s=19

makeorbrake · 15-01-2021 10:10PM

I've been concerned about Tether for over four years now. I thought why the hell can't it just publish recognised 3rd party audits and be done with it. However, we all have to appreciate the history its had in trying to exist (along with many crypto companies). Its had banking withdrawn at various stages - leaving them high and dry. It seems to have become a target as far as various regulatory entities within the US are concerned. So it makes sense that they would keep things tight. It doesn't seem to have done much wrong but of course, its centralised so that means that for crypto its always a risk (and very much goes against the whole ethos).

Beyond all that, some folks that seem credible to me in the space are suggesting that its role isn't as significant as it has been in the past and that it won't make any difference if (not if but when..) its taken down. I'd imagine that even if this is true, such an eventuality would cause some short term panic at the very least.

BrandonBay86 · 15-01-2021 10:24PM

A question I have about tether is the potential immediate impact.

Do holders sell it or swap for crypto if sh1t is about to hit the fan?

stockshares · 15-01-2021 10:29PM

BrandonBay86 wrote: »

A question I have about tether is the potential immediate impact.

Do holders sell it or swap for crypto if sh1t is about to hit the fan?

If its ever confirmed that it's not backed fully by USD then I presume BTC price would collapse.

That would affect all Coin prices so I think it would be a case of selling what you could into another Stablecoin

makeorbrake · 15-01-2021 11:19PM

stockshares wrote: »

If its ever confirmed that it's not backed fully by USD then I presume BTC price would collapse.

Well, that's debatable also. The suggestion is that btc price will go up!....as some of that $ would find its way into btc....at least initially.

seannash · 15-01-2021 11:29PM

Balanced point if view on it here

https://youtu.be/cM96shsOiZo

Bob24 · 15-01-2021 11:55PM

makeorbrake wrote: »

Well, that's debatable also. The suggestion is that btc price will go up!....as some of that $ would find its way into btc....at least initially.

Yes, it would be my view that at least initially BTC would go up as USDT holders try to get rid of it as quickly as possible and the easiest and fastest escape route is to swap for them for BTC (or other crypto assets, but BTC would be the main one as most others wouldn’t have enough liquidity). At that stage, USDT would probably be accepted by market participants at an ever-increasing discount to its denominated USD value (i.e. if BTC is valued 40000 USD, it might cost 60000 or 100000 USDT to buy 1 BTC; in order to take doubts about the redeemability of USDT into account).

Longer term ... hard to say.

Is anyone else starting to become a bit excited?

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