The Bitcoin Thread

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digitalis said:
Follow @tetherprinter on twitter.
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It seems that people have correlated some jumps in the BTC price due to new Tether being released.

Looking at the history it seems that new Tether is created when the BTC price drops. This is because people are selling for Tether and more is thus needed to fulfill sales. So any increase in the price afterwards is not due to new Tether. It just looks that way because an increase in the price is more likely after a massive drop. If you look at the drop from $13k to $9k last week, new Tether was being released during the drop but the price still kept dropping fast. Essentially correlation does not equal causation.
 
SaiyanZ said:
It seems that people have correlated some jumps in the BTC price due to new Tether being released.

Looking at the history it seems that new Tether is created when the BTC price drops. This is because people are selling for Tether and more is thus needed to fulfill sales. So any increase in the price afterwards is not due to new Tether. It just looks that way because an increase in the price is more likely after a massive drop. If you look at the drop from $13k to $9k last week, new Tether was being released during the drop but the price still kept dropping fast. Essentially correlation does not equal causation.
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What is Tether for dummies like us?
 
LazyLion said:
A lot of monkeys lived near a village.

One day a merchant came to the village to buy these monkeys!

He announced that he would buy the monkeys @ $100 each.

The villagers thought that this man was mad.

They thought how can somebody buy stray monkeys at $100 each?

Still, some people caught some monkeys and gave them to this merchant and he gave $100 for each monkey.

This news spread like wildfire and people caught monkeys and sold them to the merchant.

After a few days, the merchant announced that he would buy monkeys @ 200 each.

The lazy villagers also ran around to catch the remaining monkeys!

They sold the remaining monkeys @ 200 each.

Then the merchant announced that he would buy monkeys @ 500 each!

The villagers started to lose sleep! ... They caught six or seven monkeys, which was all that was left and got 500 each.

The villagers were waiting anxiously for the next announcement.

Then the merchant announced that he was going home for a week and when he returned, he would buy monkeys @ 1000 each!

He asked his employee to take care of the monkeys he bought. He was alone taking care of all the monkeys in a cage.

The merchant went home.



The villagers were very sad as there were no more monkeys left for them to sell at $1000 each.☹

Then the employee told them that he would sell some monkeys @ 700 each secretly.

This news spread like fire. Since the merchant would buy the monkeys @ 1000 each, there would be a 300 profit for each monkey.

The next day, villagers made a queue near the monkey cage.

The employee sold all the monkeys at 700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys!

The villagers took care of their monkeys & waited for the merchant to return.

But nobody came! ... Then they ran to the employee..

But he had already left too !

The villagers then realised that they had bought the useless stray monkeys @ 700 each and were unable to sell them!

The Bitcoin will be the next monkey business

It will make a lot of people bankrupt and a few people filthy rich in this monkey business.

That's how it will work.
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This was one of the more interesting stories I have read on the internet
 
rza said:
What is Tether for dummies like us?
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It's a cryptocurrency with a value pegged to the US dollar. So if an exchange supports it and Bitcoin price falls, you could cash out to USDT and buy bitcoin again later on or use it in similar ways. It functions a bit like a crypto USD.

They're supposed to have all their USDT backed by actual USD reserves, but the rate at which they're creating new USDT and a lack of auditing has called the legitimacy of it into question.
 
saor said:
It's a cryptocurrency with a value pegged to the US dollar. So if an exchange supports it and Bitcoin price falls, you could cash out to USDT and buy bitcoin again later on or use it in similar ways. It functions a bit like a crypto USD.

They're supposed to have all their USDT backed by actual USD reserves, but the rate at which they're creating new USDT and a lack of auditing has called the legitimacy of it into question.
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Thanks.
 
FFS dump already so we can get on with things... its been weeks of this crap:mad:
 
Temujin said:
FFS dump already so we can get on with things... its been weeks of this crap:mad:
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Patience.......patience.......good things come to those who wait :)

And by "good things", I mean $100k Bitcoin price!!!!!! :)
 
Luno price has been so dead, hopefully it picks up with payday tomorrow
 
balrog said:
Patience.......patience.......good things come to those who wait :)

And by "good things", I mean $100k Bitcoin price!!!!!! :)
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Yeah, but should have dumped off already(thought yesterday would finally be it) and we'd be heading back up come weekend... everyday its delayed eats into my d30 feb prediction:cry:
 
BTC has been teasing for a few days. When it breaks below a barrier like $10k or $11k it recovers almost immediately and holds its price. Normally when it breaks through walls you'd see it keep going down for a while.
 
The start of a nice uptrend?

Let's hope this is the beginning of a new bull-run :)
 
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