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Thread: Bitcoin Thread - 2018

  1. #2881
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    https://www.zerohedge.com/news/2017-...metals-markets

    Wouldn't be that hard to analyse how much of this is done on some dodgy exchanges, must be plenty...
    I already posted a link to one such analysis on the supposedly biggest exchange of certain coin.

  2. #2882
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  3. #2883
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    We're seeing some of the lowest volume since November, down 5 times since the ATH.

    How low will we go?

  4. #2884
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    Quote Originally Posted by broadone View Post
    https://medium.com/@bitfinexed/under...d-c0933c72e3e5

    You’re simply trading USD accounting entries of a company that does not actually have legal ownership of those USD.
    So, you may ask which exchanges have real banking and real USD?

    Simple.

    Bitstamp
    Gemini
    GDAX
    Kraken

    That’s it. That’s your USD volume. The rest of the exchanges that show “USD” trading are tantamount to Clarence Dollars.
    I agree you can't really count crypto to crypto volume. So eg. BTC trading volume for BTC/ETH pair is separate from BTC/USD trading volume. Though Coinmarketcap does show each pairing separately so that's not an issue.

    Until proven otherwise USDT is like USD. So BTC/USDT volume is pretty much the same as BTC/USD volume for me. Coinmarketcap shows this as well.

    So the article seems like FUD. Ultimately traders just care about what the price is doing. Graphs for USD exchanges and USDT exchanges look pretty similar. I will start worrying if/when they start drifting apart.

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    The Rand has had a bigger impact on Luno than the bitcoin price lately.

  6. #2886
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    https://www.tradingview.com/x/AqrHIIBO/

    Struggling to get to $6800 naturally. Bears keep pushing down.

    Possibly forming an ascending triangle in the next few hours.

    Bulls need a push / more volume needed to break resistance.

  7. #2887
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    Looks like Tether has been "unofficially" confirmed as 100% backed by USD. So some good news to throw into the broth.

    https://www.bloomberg.com/news/artic...o-vet-finances

    Tether Ltd., issuer of a digital currency, said its bank deposits of $2.55 billion were confirmed by the law firm co-founded by FBI director Louis Freeh as the company seeks to reassure investors that its cryptocurrency is backed by U.S. dollars.

    Freeh Sporkin & Sullivan LLP didn’t conduct an official audit but had access to Tether’s accounts at two banks for weeks and released data on how much money the company held on a single day, June 1, Tether’s general counsel said in an interview. That amount is nearly equal to the value of all Tether digital coins in circulation that day, $2.54 billion, according to Tether executives who spoke to the law firm.

    Those numbers should be close because Tether is designed as a 1-for-1 substitute for U.S. dollars -- a means of providing an easy way for crypto traders to swap into a stable digital currency. Tether has been dogged by speculation that the money isn’t actually there -- a concern that persisted among skeptics even after an accounting firm, Friedman LLP, did an analysis last year of Tether’s finances similar to this new review. The U.S. Commodity Futures Trading Commission subpoenaed Tether in December to investigate the situation, Bloomberg News reported in January.
    The pump at 3pm was because of this news.
    Last edited by SaiyanZ; 20-06-2018 at 09:35 PM.

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