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Is Bitcoin the Next Big Thing?

Discussion in 'Business Discussions' started by accelerator, Jun 2, 2015.

  1. Edwin

    Edwin Well-Known Member

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    Problem is, Tether's seemingly fake USDT bot action has been busted* (that was covered in the long article I linked to) which is why they had to create secondary coins like the Euro-Tether one. It's much harder to create big volumes there, though, so it's unlikely they're going to be able to dump cash into the market in the $hundreds of millions like they were doing at the height of the pump.

    *they haven't admitted to anything, but now that it's been "outed" the supposed bot suddenly stopped pouring cash into the market.
     
  2. Domain Forum

    Acorn Domains Elite Member

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    IWA Meetup
     
  3. bonusmedia

    bonusmedia Well-Known Member

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    Sort of. 1:20 leverage but I put much more in than the initial margin I actually used, if that makes sense.
    I think actually using that amount of leverage would probably tip the balance from brave to stupid

    I went with Plus500 because they could set me up inside an hour at 2am on a Sunday morning.
    They limit losses to the balance of your account anyway but my limits kick in before that.
    They have a 15 day limit on BTC CFDs.

    It might hit $10.5K tomorrow, it might hit $5.5K tomorrow - we shall see!
    If nowt else it's a bit of a distraction from the enormous pile of paperwork I should be doing
     
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  4. bonusmedia

    bonusmedia Well-Known Member

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    Re manipulation - you may be right, but if it is happening then I think it's easier/less risk to buy in, pump it 10%, sell out, let it drop 10%, rinse and repeat
     
  5. dee

    dee Well-Known Member Acorn Supporter

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    I know what would happen if i'd made that trade. It would pop up to the vague down channel top @11.5 hitting my stops on way, then rapidly descend to the bottom at 4k ish .

    It's probably a good thing for you i'm long :)
     
  6. Edwin

    Edwin Well-Known Member

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    BTW, this is worth a read as to why Tether may suddenly have stopped plucking money out of thin air (after "creating" over $850 million in January 2018)
    https://www.trustnodes.com/2018/02/04/tethers-printer-suddenly-gone-silent

    And it looks like historically Tether's grants of new coinage were the closest thing to a "dead cert" trading signal...
    https://hackernoon.com/the-tether-effect-7310cbf5523f
    https://www.tetherreport.com/

    Here's a public record of all Tether's new coin grants
    USDT (nothing since 23 Jan): https://omniexplorer.info/default.aspx?filter=grant
    Euro on Ethereum: https://etherscan.io/token/0xabdf147870235fcfc34153828c769a70b3fae01f
     
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    Last edited: Feb 12, 2018
  7. Edwin

    Edwin Well-Known Member

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    Interesting little interview with the original "wolf of wall street" guy (the crypto stuff ends around 15 minutes in, after that it's about Trump so I switched off)

     
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  8. bonusmedia

    bonusmedia Well-Known Member

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    Wonder what would stop them printing more EURT
    I'll keep an eye on that, if they suddenly magic up another hundred million I might call it a day
     
  9. ian

    ian Well-Known Member

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    The irony of a fraudster claiming all crypto is a fraud, yet he and his friends "sold at the top" and finishing with saying all HODLers should hold until they kill themselves! What I lovely bloke!!!
     
  10. boxerdog

    boxerdog Well-Known Member

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    BBC1 Panorama on Bitcoin tonight 8:30-9:00pm, could be quite interesting.
     
  11. Edwin

    Edwin Well-Known Member

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    Was it?
     
  12. boxerdog

    boxerdog Well-Known Member

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    It wasn't bad, worth a watch if you're bored for 30 minutes but nothing we don't already know.
     
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  13. ian

    ian Well-Known Member

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    Typical BBC stance, was an entire show of negativity, but in a softly softly way.
     
  14. markb United States

    markb Active Member

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    Looks like litecoin/bitcoin doing well today.
     
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  15. dee

    dee Well-Known Member Acorn Supporter

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    Hooray ! My little LTC hold looking a little less sore
     
  16. bonusmedia

    bonusmedia Well-Known Member

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    It looks like I picked about the worst day possible to go short :)
    Hanging on for now...
     
  17. Admin

    Admin Administrator Staff Member

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    Just be careful, dont fight the tide, I went bankrupt trading CFDs....but i was very, very badly suited to it.
     
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  18. Edwin

    Edwin Well-Known Member

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    Hope things work out.

    Looks like Tether just plucked a little more cash from thin air. Not a lot by historic standards (and neither enough, nor timed closely enough, to explain the recent rally) but it shows their EUR creation programme isn't completely dead...
    https://etherscan.io/token/0xabdf147870235fcfc34153828c769a70b3fae01f
     
  19. martin-s United Kingdom

    martin-s Well-Known Member

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    Allegedly?
     
  20. Edwin

    Edwin Well-Known Member

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    Of course. I've said in my comments about Tether all through this thread that it is not clear whether they are scamming people or legit. Until they get audited - or busted - we'll never know for sure.
     
  21. ian

    ian Well-Known Member

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