Cryptocurrency market cap surpasses one trillion dollars

Sprout · Jan 18, 2021

Trader Curt said:
I take that back, you're right...

I think I'm going to stop coming on these forums when I'm intoxicated, and start talking about money like a sober professional. My bad...
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Sprout · Jan 18, 2021

RedDuke said:
why? BTC just a computer code and it is being manipulated with tethers that are created out of thin air. You might not agree, but it is sad if this is indeed the stupidest comment you ever read.
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https://link.medium.com/7mZR2u4p9cb

virtusa · Jan 18, 2021

narafa said:
I read a lot about the Tether (USDT) conspiracy & manipulation of BTC through creating Tethers out of thin air, but I still can't understand how can you possibly manipulate something which has a market cap of $650 billion with something which has a market cap of only $25 Billion????

Let's suppose for the sake of argument that the company behind Tether actually mints (Or Prints) more Tether than what they actually hold in real USD, so the ratio is not in reality 1:1 as they claim & that there is actually $25 Billion of real USD but there is 10x that in Tether ($250B worth of Tether in circulation). Don't you think that other Crypto exchanges will eventually know this and stop dealing with Tether all together at some point??

Even with this example, hypothetically that Tether is actual another form of fractional reserve and it's actually 1:10, again, how can you manipulate an asset which has a market cap of $650 billion with $250 Billion worth of Tethers?

Ok, maybe this argument does not take into consideration that there is a large amount of Bitcoin which is actually outside the circulation (i.e. in cold storage or forever lost) and that the actual Bitcoin circulating supply we are talking about is just 25% of the total circulating supply, which is around 4,650,000 Bitcoins, worth around $162,750,000,000), so ok, in this case, you can manipulate or corner the market if you have $250B of "Fake" Tethers (Even less than that).

But hold on, not all Crypto exchange use Tether, actually several exchanges don't, besides, if Tether is using fractional reserve, what prevents them from getting a run on the bank scenario, especially during 2018/2019 brutal crash??? If they get a run on the bank, they won't have enough money (Fiat) to redeem all the outstanding Tethers (USDTs) and the scam would have been exposed immediately.

Actually, Tether is not the only stable coin out there, there are a lot others and almost every exchange is getting it's own stable coin now in order not to rely on Tether as a stable medium or crypto, so in reality, the effect of Tether is getting smaller and smaller. It's only popular because it had the first mover advantage, but not anymore, because it's not really rocket science. Whether other exchanges are doing their own stable coins because they knew Tether is a fraud or because they don't want to be under the mercy of Tether is irrelevant as long as there are exchanges out there who are still quoting & providing trading pairs directly against the USD or the EUR.
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https://finance.yahoo.com/video/pri...E9I6O2HCc7RB8OPXhbZ54CBjNI2aSrlImWQsftsO7ZMws

Trader Curt · Jan 18, 2021

virtusa said:
I think you wrote already several that a comment was the most stupidest you ever read.

If you have many of these comments, the comments are probably not stupid, you are probably too stupid to understand them. So the problem is not the comment but the reader. Probably too difficult for you to understand...
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Why are you talking to me about it then?

virtusa · Jan 18, 2021

Trader Curt said:
Why are you talking to me about it then?
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Just to see what level of stupidity you reached. Was not sure how stupid so I wrote "probably" in the last sentence.

Trader Curt · Jan 18, 2021

virtusa said:
Just to see what level of stupidity you reached.
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And I should care because?

ph1l · Jan 19, 2021

Sprout said:
View attachment 249273

https://link.medium.com/7mZR2u4p9cb
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This does not inspire confidence in the cryptocurrency industry.

Magna · Jan 19, 2021

Guys, let's keep it friendly -- no name calling, no personal attacks.
Thanks.

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Cryptocurrency market cap surpasses one trillion dollars

Sprout

Sprout

virtusa

Trader Curt

virtusa

Trader Curt

ph1l

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