USDT is a cryptocurrency asset issued on the Bitcoin blockchain via the Omni Layer Protocol. Each USDT unit is backed by a U.S Dollar held in the reserves of the Tether Limited and can be redeemed through the Tether Platform. The funny thing is that it is not backed by U.S Dollar held in the reserves. USDT is being created out thin air and with Bitfinex exchange, sky is the limit for Bitcoin price. When someone can just create USDT and then use it to buy Bitcoin, well you want to call it price discovery, be my guest.
So no you don't have a link to anything proving Bitcoin is ... "without any benefit of the doubt that bitcoin price is not real, it is a fake price set by insiders".
Just google USDT. I can post 100s of links here, but just google. Just think of it for a sec. someone can create infinite USDT with no independent oversight and use it to buy something. What is something rea value is then.
Bud, you're not listening... Did you miss my post? I already responded to your childish view of the bitcoin markets. https://www.bloombergquint.com/onweb/cme-bitcoin-futures-volume-hits-record-high-as-prices-rebound Imagine a bitcoin insider setting the price (pumping the price of bitcoin to $100,000) but not before buying 1000 bitcoin CME futures and telling all their friends to do the same? "Red Duke's claim is that they pump the price of btc so they can attract and steal dumb money that comes pouring in, however for someone who's been on ET for 10 years, he doesn't understand how markets work. There's so many ways to arbitrage a bitcoin market that he describes and make boatloads of $$$"
Listen up you ignorant fucks. I have had a lot of trading experience in my life and nowadays I know a lot of big players in the crypto market. Last year I got off my ass and flew to Singapore (among other countries) to meet some of them and get an update for what's really happening in the space. What I learned was that they are doing the same thing that we traders have been doing forever - trying our best to find an edge in an incredibly difficult game. To the extent that they can, they will manipulate it. But that's not wrong or bad. It is just the game we play. Same as in every single financial market in the world. Same as in sport too. Do you think it's bad for a soccer player to pretend he's going to shoot left but then he shoots right to "manipulate" the goal keeper? Of course not. So if my friend in Singapore finds a big whack of borrow, and proceeds to short BTC across multiple exchanges, then he's doing nothing but trading intelligently. It's not wrong of him to have the ability to move the markets. And it's not bad for someone to lend him that crypto in the first place. There, is after all, a very liquid market out there that is hidden from the typical retail trader. For example, I know guys who'll trade $50m of BTC 2-way all day long. As for Tether, all the drama is really just an internet cry-baby story. There is zero evidence that they don't back new Tether with real USD. That said, I wouldn't be surprised if there was some doginess going on. But who cares? Even if only 50% of the Tethers are USD backed, then we still have 100% of the value in new buying power. It is the buying power that matters, not whether it's unfair that they shouldn't have had that buying power. In any case, it would still show that 50% of that money really has been transformed from USD into Tether. And what does that show you? It shows that there is ongoing aggregate demand for crypto by sellers of fiat. Never complain about manipulation - it is the most looserish thing you could do. And never swim against the current.
Sir, you got me at hello. I actually had to look up your other 8 posts, because I couldn't believe someone can be this huge of a dumbfuck. Yes, someone can. I m not even going to bring up the burden of proof thingy with tether. Let me just quote THEM, since March 14th of this year, they don't even claim anymore that every tether is backed by US dollar: "It formerly claimed that each token was backed by one United States dollar, but on March 14, 2019 changed the backing to include loans to affiliate companies." So apparently the critics were right from the beginning. But don't let facts disturb your sleep. Your incoherent but very friendly rambling doesn't really deserve a response, but I thought this was an interesting and fairly new facts that not many people know yet. Now go fuck yourself you twit. But not before I throw in some research: https://www.cnbc.com/2018/06/13/muc...-was-market-manipulation-researcher-says.html The original research: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3195066 Edit: I advise everyone to read the Tether Wiki. It is pretty amusing because of the number of red flags. They are unable to do a proper audit. Oh my. "A much smaller competitor issues TrueUSD, a similar cryptocurrency pegged to the U.S. dollar. It provides monthly attestations issued by Cohen & Company, a top 50 U.S. public accounting firm, giving the value of their reserves." How hard is that?
Hmm, thanks for example it now really looks like concerted attempt to pump when considering futures volume jump. Any other examples to arbitrage for humble undercapitalized traders without access to CME?
%% That maybe true. But have you see the bit con ads-its a pic of a real brass looking coin LOL?? Some spell it bit con. I'm not sure if your remark was rebuke of bit con or gov bonds or both LOL. Im not saying all gov bonds are a bit con.LOL. We paid a small fee to watch a con/ movie con named ''The Sting'' It did make money for few- not that i'm saying that waste of time was good idea ,but it was was fun................................................................................