This bull run just looks to good to be true.
This bull run could be entirely due to tether printing loads of fake money and buying Bitcoin with it.
Interesting post from Reddit:
“More worrying is that Tether volume moved in last 24 hrs is around 5X the total known ‘float’. Source: Coingecko.
Hypothetically: Tether Ltd has issued far more tokens than there are real USD or equivalent fiat currency to back up. A make or break audit is coming up Jan 15th and the walls are closing in on the legal case relating to Bitcoin price manipulation in 2017/18.
What to do? Well, maybe use inflated Tether tokens to bid up Bitcoin, maybe ETH as well over the Xmas / New Year period when regulatory authorities are thin on the ground and other markets are closed. Create maximum FOMO and wait for retail to flood in real USDs. Notice the uptick in Bitcoin articles in fora, Twitter, social media, financial press, crypto observers even MSM? Understandable due to price action but still seems a bit ‘forced’.
Now BTC and ETH held by Tether associates worth many more $$$. Liquidity problem solved.
Interestingly, another poster has pointed out a huge arbitrage difference in ETH/USD pair vs ETH/EUR pair. ETH is currently considerably less in Euro than the equivalent in USD. Conclusion: Whoever is behind this wants USD, not Euro.
Next logical inference: BTC / ETH will have to be sold or rehypothecated to create the liquidity for Tether audit, or remove the illicit excess from circulation. Price likely to plummet just before 15th Jan”
And:
“There was some research done speculating that Tether the company issued $millions worth of Tether tokens out of thin-air moved those tokens to Bitfinex and bought Bitcoin with it. Thus propping up the price of BTC with money printed out of nothing. Which they have done multiple times in key moments when BTC was not looking too good.
Furthermore some of the documentation/statements that Tether the company has made indicates that they are not in fact backed dollar for dollar, that they are using around 30% of their other assets to the same equal dollar amount, but those assets include cryptocurrencies such as BTC.
So they are backing their asset with the same asset they are backing”
That would mean we have no idea what the real value of BTC is.
This bull run could be entirely due to tether printing loads of fake money and buying Bitcoin with it.
Interesting post from Reddit:
“More worrying is that Tether volume moved in last 24 hrs is around 5X the total known ‘float’. Source: Coingecko.
Hypothetically: Tether Ltd has issued far more tokens than there are real USD or equivalent fiat currency to back up. A make or break audit is coming up Jan 15th and the walls are closing in on the legal case relating to Bitcoin price manipulation in 2017/18.
What to do? Well, maybe use inflated Tether tokens to bid up Bitcoin, maybe ETH as well over the Xmas / New Year period when regulatory authorities are thin on the ground and other markets are closed. Create maximum FOMO and wait for retail to flood in real USDs. Notice the uptick in Bitcoin articles in fora, Twitter, social media, financial press, crypto observers even MSM? Understandable due to price action but still seems a bit ‘forced’.
Now BTC and ETH held by Tether associates worth many more $$$. Liquidity problem solved.
Interestingly, another poster has pointed out a huge arbitrage difference in ETH/USD pair vs ETH/EUR pair. ETH is currently considerably less in Euro than the equivalent in USD. Conclusion: Whoever is behind this wants USD, not Euro.
Next logical inference: BTC / ETH will have to be sold or rehypothecated to create the liquidity for Tether audit, or remove the illicit excess from circulation. Price likely to plummet just before 15th Jan”
And:
“There was some research done speculating that Tether the company issued $millions worth of Tether tokens out of thin-air moved those tokens to Bitfinex and bought Bitcoin with it. Thus propping up the price of BTC with money printed out of nothing. Which they have done multiple times in key moments when BTC was not looking too good.
Furthermore some of the documentation/statements that Tether the company has made indicates that they are not in fact backed dollar for dollar, that they are using around 30% of their other assets to the same equal dollar amount, but those assets include cryptocurrencies such as BTC.
So they are backing their asset with the same asset they are backing”
That would mean we have no idea what the real value of BTC is.
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