PMCollector
Well-Known Member
^ ditto
Monitoring the Crypto Bubble
- Thread starter Bullion Baron
- Start date
@hardyakkagold should be able to express his views without a warning label. At no point did he make a claim that it was investment advice, nor did he encourage others to follow his lead. There are many opinions on here and if someone wants to invest based on the views of a member on this forum - that's on them.
I believe Bitcoin and the majority of cryptos are purely speculative in nature, and many have been inflated to stupid levels based on greed and unfounded beliefs. It's not wrong to state the possibility of major downtrend or a collapse within the crypto markets. I've personally made some good profits Gambling with cryptos.. but I've also made some good profits Gambling at the casino. I don't see the two as any different. Both carry sizeable risks and the potential for losses are real.
@mmm....shiney! You are targeting a member because your views don't align with theirs. I don't care which member you choose to do this to - it's simply wrong. No comment on here should be taken as investment advice. By singling out one member, you show us all just how low you're willing to go and how personal you're prepared to make your activity on this forum as a moderator. These are not good qualities and if nobody calls you out for them, they will go unchecked.
I believe Bitcoin and the majority of cryptos are purely speculative in nature, and many have been inflated to stupid levels based on greed and unfounded beliefs. It's not wrong to state the possibility of major downtrend or a collapse within the crypto markets. I've personally made some good profits Gambling with cryptos.. but I've also made some good profits Gambling at the casino. I don't see the two as any different. Both carry sizeable risks and the potential for losses are real.
@mmm....shiney! You are targeting a member because your views don't align with theirs. I don't care which member you choose to do this to - it's simply wrong. No comment on here should be taken as investment advice. By singling out one member, you show us all just how low you're willing to go and how personal you're prepared to make your activity on this forum as a moderator. These are not good qualities and if nobody calls you out for them, they will go unchecked.
PMCollector
Well-Known Member
To be honest, I'm not an expert but after thinking more about it, I don't think Tether can 'lose' its peg. Tether trades on open market, it can be pushed down in short term but it's unsustainable over longer term, it would need a tremendous lot of continuous burning of cash. I could be wrong, just my thoughts but its amazing just watching the battle play out in real time though
Does this have anything to do with it?https://mobile.twitter.com/Tether_to/status/1524652531170881537?ref_src=twsrc^google|twcamp^serp|twgr^tweet
TreasureHunter
Well-Known Member
If it does... countless cryptos, exchangers, investors will turn tu cr*p
I'm no expert either at all. Just noticed an avalanche of Tether/stablecoin tweets on my screen from various sources, is all.
What sort of moderation is this? Came in here to catch up on crypto market shenanigans but I just see old time members threatening each other? What a joke.
Aelfred
Active Member
It depends on whether you think Tether is a fraud and manipulating the price of BTC up, like what happened in 2013. Here's a very complicated chart I drew about manipulations. Feel free to run your most complex technical analysis on it
Well this is just hyperinflation hitting BTC then.
Again, I like crypto, I own crypto, and I like bitcoin the most out of all cryptos. But Tether is an obvious fraud and I'm not going to delude myself about it like all the kids on Twitter.
- If you print 80 billion USD, everything priced in USD goes slightly up, because there are a lot of things you can buy with USD and you've increased the supply of USD by 1%. The market always clears, so everything you can buy in USD needs to go up by 1% to adjust for the new money supply.
- If you print 80b USDT, everything you can buy in USDT goes up. As nobody can buy anything with USDT except crypto, and you've just increased the supply of USDT by 80,000% then the market needs to clear and the price of crypto needs to go up by about that match. Although if the peg broke and USDt stared trading for less than $1, all those very impressive gains would suddenly not look very impressive. If USDT went to $0.0001, then all those gains disappear, for example. Until the fraud was washed out of the market and BTC started trading against real dollars again.
Some people are going to get a very expensive lesson in basic economics in the next few weeks.
madaw1
Well-Known Member
This is no joke-this is new world order affecting not only every Department of our society but our forum as well. Now is different as it was 10 years ago-you were able to talk nearly on every topic-now some of your view can be treated as politically incorrect or belong to conspiracy theories. That's life and we have to be aware of it..if we want to survive......
Golden ChipMunk
Well-Known Member
Every hole there sure Some A$$ Troll
If you suffer from depression or sick be sure to get it treated or check up ===== Don't take it on members ere.
Don't turn this Place to A War Zone
Like Putin Did....
If you suffer from depression or sick be sure to get it treated or check up ===== Don't take it on members ere.
Don't turn this Place to A War Zone
Like Putin Did....
TreasureHunter
Well-Known Member
CORRECTION: "...will turn INTO cr*p..."
TreasureHunter
Well-Known Member
After this crash, less people will think crypto is on a linear expansion. How often did we hear that: the rate of adoption is spreading, the supply of BTC is limited, BTC has no inflation...
Yep, but it can turn to dust. IT HAS NOTHING BEHIND IT. No functioning economy, the entire crypto market is AT BEST like an ETF / futures market. I think it's closer to a (Japanese) pachinko metal ball trading market.
Perhaps even fresh tuna traded on a Japanese fish market has more stability...
No, I don't think cryptos will die. I think this is just a crash-correction and the filthy rich will buy up a lot of the low hanging fruits now. But I think many of the small "alt coins" will simply die. Forget Shiba Inu and other cr*p coins. They were "one hit wonders" (so, perhaps even the Spice Girls survived for longer).
Perhaps cryptos could become more stable with this correction, at least the market has matured somewhat and purchases will be more careful now.
This might be a good buying opportunity and I still maintain my opinion, that a lot more could be made with alts bought now (on the long term), rather than on BTC or ETH.
Yep, but it can turn to dust. IT HAS NOTHING BEHIND IT. No functioning economy, the entire crypto market is AT BEST like an ETF / futures market. I think it's closer to a (Japanese) pachinko metal ball trading market.
Perhaps even fresh tuna traded on a Japanese fish market has more stability...
No, I don't think cryptos will die. I think this is just a crash-correction and the filthy rich will buy up a lot of the low hanging fruits now. But I think many of the small "alt coins" will simply die. Forget Shiba Inu and other cr*p coins. They were "one hit wonders" (so, perhaps even the Spice Girls survived for longer).
Perhaps cryptos could become more stable with this correction, at least the market has matured somewhat and purchases will be more careful now.
This might be a good buying opportunity and I still maintain my opinion, that a lot more could be made with alts bought now (on the long term), rather than on BTC or ETH.
I sold my 1.5 BTC that I bought $9000 USD loss 4 months ago.
AS I said crytpto is worth what people bet/buy for quick buck. All those buyers are wiped out now. So not worth holding.
Nothing compared 120k i made on BTC. $111k now. One thing for sure Terra and Luna is dead stable coin, to lose the peg twice in 2 months just means algorithmic stable coin is just a dumb idea. Better to trade in dark stable coin tether with blind faith.
DotCryptoBust Coinbase is advising publically of its potential bankruptcy by the ceo lol.
But Im doubling down oil again. $200 USD oil within 3 months.
AS I said crytpto is worth what people bet/buy for quick buck. All those buyers are wiped out now. So not worth holding.
Nothing compared 120k i made on BTC. $111k now. One thing for sure Terra and Luna is dead stable coin, to lose the peg twice in 2 months just means algorithmic stable coin is just a dumb idea. Better to trade in dark stable coin tether with blind faith.
DotCryptoBust Coinbase is advising publically of its potential bankruptcy by the ceo lol.
But Im doubling down oil again. $200 USD oil within 3 months.
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Should be pretty good support at 17 or 18k.
It might soon be tested but im staying the hell away for now. Let the bleed out continue.
Tether has refused to disclose details to the Financial Times on its $40 billion hoard of US government bonds for fear of revealing its “secret sauce.”
https://www.ft.com/content/5887ef43-d43a-4608-a1ac-aacc99f076b9
The $1.3tn cryptocurrency industry was on Thursday hit by one of its toughest challenges when stablecoin Tether — a critical cog in the market — failed to maintain its link with the US dollar. Tether tumbled as low as 95.11 cents in European trading, far below the $1 peg that it seeks to maintain as it faced an intense bout of selling pressure.
Its price later recovered, but the rare slip-up, days after the failure of smaller rival TerraUSD, sent bitcoin — the world’s biggest digital asset — sinking to its lowest level since late 2020. Ratings group Fitch said the troubles at Tether and TerraUSD “highlight the fragile nature of private stablecoins, and will accelerate calls for regulation”.
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Paolo Ardoino, Tether’s chief technology officer, on Thursday vowed to defend the token’s dollar peg and said the company had bought “a ton” of US government debt, which it is willing to offload in that effort.
But in an interview with the Financial Times, he declined to give details about its $40bn hoard of US government bonds because he did not “want to give our secret sauce”. “Our counterparties are not public. We are not a public company,” he said. “So we keep that information [to] ourselves, but we are working with many big institutions in the traditional financial space.”
https://www.ft.com/content/5887ef43-d43a-4608-a1ac-aacc99f076b9
The $1.3tn cryptocurrency industry was on Thursday hit by one of its toughest challenges when stablecoin Tether — a critical cog in the market — failed to maintain its link with the US dollar. Tether tumbled as low as 95.11 cents in European trading, far below the $1 peg that it seeks to maintain as it faced an intense bout of selling pressure.
Its price later recovered, but the rare slip-up, days after the failure of smaller rival TerraUSD, sent bitcoin — the world’s biggest digital asset — sinking to its lowest level since late 2020. Ratings group Fitch said the troubles at Tether and TerraUSD “highlight the fragile nature of private stablecoins, and will accelerate calls for regulation”.
-
Paolo Ardoino, Tether’s chief technology officer, on Thursday vowed to defend the token’s dollar peg and said the company had bought “a ton” of US government debt, which it is willing to offload in that effort.
But in an interview with the Financial Times, he declined to give details about its $40bn hoard of US government bonds because he did not “want to give our secret sauce”. “Our counterparties are not public. We are not a public company,” he said. “So we keep that information [to] ourselves, but we are working with many big institutions in the traditional financial space.”
Why?
If someone is going to offer their opinions on a matter then it's smart practice to consider how credible that advice may be. Sound advice stems from reason and logic. Believing in and posting the existence of Draco alien Princes, subterranean cities, a subway that connects Pine Gap military base to Canberra and the Lost City of Atlantis indicates a lack of reason and logic. It stands to reason then that the member's views on the topic of cryptocurrencies are likewise flawed.
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There are a number of members who are not at all interested in discussing the topic. Their sole desire is to spam crypto threads with meaningless tripe or whine about moderation.
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@66rounds, here is an example of such a post:
This has been debated in good faith previously, obviously to no avail as it seems to resurface every time there is a bull or bear market.
Correlation does not equal causation. The economic lesson here is not that the supply of Tether manipulates the price of BTC, rather it is that market demand puts pressure on the supply of USDT as participants scramble to convert fiat to USDT to buy BTC in a rising market, or conversely BTC to USDT in a falling market. See https://coinyuppie.com/the-additional-issuance-of-usdt-promotes-crypto-inflation/
This has been debated in good faith previously, obviously to no avail as it seems to resurface every time there is a bull or bear market.
Correlation does not equal causation. The economic lesson here is not that the supply of Tether manipulates the price of BTC, rather it is that market demand puts pressure on the supply of USDT as participants scramble to convert fiat to USDT to buy BTC in a rising market, or conversely BTC to USDT in a falling market. See https://coinyuppie.com/the-additional-issuance-of-usdt-promotes-crypto-inflation/
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Ironic.
Hardyakka is a fucking crypto troll end of story.
He adds zero value and would admit that if called out on it
Fuckwit shouldnt even be on these threads.
If that hurts your feelings....good