If it smells like cologne, leave it alone.
Bitcoin/Ethereum/cryptocurrencies
- Thread starter 35years
- Start date
35years
Gravy route
All you need to know about tether, the cryptocurrency that could have a 'devastating' effect on bitcoin
"All you need to know about tether, the cryptocurrency that could have 'devastating' effects on the market
"All you need to know about tether, the cryptocurrency that could have 'devastating' effects on the market
- Some cryptocurrency insiders are claiming that a digital coin called tether is being used to prop up the price of bitcoin.
- Experts fear that if tether collapses, it could have a "devastating" effect on the broader cryptocurrency market.
- Given that the anonymous report claims tether was responsible for 48.8 percent of bitcoin's price rise in 2017, the author said there could be a 30 percent to 80 percent correction. Perhaps this is already taking place as bitcoin fell below $8,000 Friday for the first time since November 24.
"If a tether debacle unfolds, it will likely cause quite a devastating ripple effect across many of the exchanges that see most of their volumes traded against the supposedly USD-backed cryptocurrency. In such a scenario, we may see cryptocurrency prices retreat quite dramatically in the next month or so," Thomas Glucksmann, head of APAC business development at cryptocurrency exchange Gatecoin, told CNBC by email Friday.
The other reaction could be something equivalent to a bank run. This would happen if the value of tether goes to zero and then people suddenly request their fiat money back. Tether can no longer prop any other cryptocurrency up."
Brownslave688
You want a toe? I can get you a toe.
35years
Gravy route
The party is over, China, Microsoft, the major banks are all banning crypto...
Forbes article below...
Banks, Retailers, China Have All Turned On Bitcoin
"Here's why everyone has turned on it. China's regulators will reportedly block local investor access to cryptocurrency exchanges anywhere in the world, not just in mainland China.
"I believe we will see Bitcoin back to $2,500," says Millenia's fund manager. "Maybe even lower."
Bank of America, Citigroup, JP Morgan, Capital One and Discover have also banned their customers from purchasing cryptocurrencies on the exchanges.
Other major banks could follow suit. ..
With retail and banks turning on Bitcoin, frustration is mounting. The walls are closing in around cryptos."
Forbes article below...
Banks, Retailers, China Have All Turned On Bitcoin
"Here's why everyone has turned on it. China's regulators will reportedly block local investor access to cryptocurrency exchanges anywhere in the world, not just in mainland China.
"I believe we will see Bitcoin back to $2,500," says Millenia's fund manager. "Maybe even lower."
Bank of America, Citigroup, JP Morgan, Capital One and Discover have also banned their customers from purchasing cryptocurrencies on the exchanges.
Other major banks could follow suit. ..
With retail and banks turning on Bitcoin, frustration is mounting. The walls are closing in around cryptos."
Brownslave688
You want a toe? I can get you a toe.
Microsoft is pretty hilarious considering they use other alt coins technology in their products.
Brownslave688
You want a toe? I can get you a toe.
Oh and the big banks own ripple so of course it's the only one they want to do well.
You do see what's likely happening here right?
1989
Well-Known Member
Scam?
Brownslave688
You want a toe? I can get you a toe.
Think of all the money the people who currently run the world missed out on in 2017?
These people own the media. They own the banks ect. They sat on the sidelines in 2015,2016,2017 while average every day people made millions.
So there's a good chance they are using everything at their disposal (media banks) to drive down the price right now.
Now it could be to try and destroy crypto but I think they know better than that. Blockchain is here to say and very useful. What's more likely is they are going to jump in when they feel they've driven the price down as much as they can and ride the wave back up.
The overall crypto market is essentially where it was 3 months ago. It mooned hard is why it looks like it is crashing hard right now.
Brownslave688
You want a toe? I can get you a toe.
Japan considers bitcoin legal tinder.
They are normally a year or two ahead of the game on technology acceptance.
Lite coin is releasing a merchant payment system that allows you to swipe a card anywhere that takes visa and buy goods.
Brownslave688
You want a toe? I can get you a toe.
Turdferguson
Just a turd
upschuck
Well-Known Member
So, in other words, no.
Brownslave688
You want a toe? I can get you a toe.
Don't be so lazy. Do a google search. There's a number of people living off bitcoin.
Brownslave688
You want a toe? I can get you a toe.
That's why currency is probably a terrible word for them. Most of their uses are outside of buying day to day goods.
upschuck
Well-Known Member
It is more fun to make fun of you.
1989
Well-Known Member
A speculative asset.
upschuck
Well-Known Member
So, what is the purpose of it, if not to buy goods?
