All posts made by Im not a robot in Bitcointalk.org's Wall Observer thread
1.
Post 24938788 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.28h):
imo tether wasn't hacked. They just want to hide the fact that they are printing tethers out of thin air (their ledger was negative).
600Mio tether were used since april to pump the market.
Can't predict whats happening next...might fomo buy BTC because everyone wants to get rid of tethers but then maybe freefall to 3K$
Yeah this will be an interesting watch. People aren't really taking it very seriously it seems...
If it's true that tether/bitfinex has been applying their own quantitative easing strategy for this bull run, then the market should be well fucked for a while. Who knows how much they have to throw at it tho? Maybe enough to exhaust the sellers. But it's a time bomb either way if true.
And to the people suggesting that this is fud from bch camp: imo this would mean all USDT/Tether pairings on bitfinex are suspect for price rigging including bcash.
2.
Post 24942087 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.28h):
And to the people suggesting that this is fud from bch camp: imo this would mean all USDT/Tether pairings on bitfinex are suspect for price rigging including bcash.
If it is a coincidence that Tether is hacked three days after a social media campaign starts against it on Reddit, then that is a remarkable coincidence.
I certainly don't think it's a coincidence, but I'm not sure it makes any sense for the bch camp to hack tether to try and pull buyers away from btc. If tether is a fraud and has been playing the market then the ramifications are much much larger than just bitcoin.
Bitcoin is recovering now, but I wonder for how long... People are speculating that btc is going to spike as people dump tether, but if this is a proper scandal I'm expecting ltc and eth to spike. Lots of people have accounts set up on many exchanges where there is no cash out to fiat. If the markets are rigged and people panic and start to dump they will need to transfer value to whatever service they use as a bridge between fiat and crypto and currently almost no one uses btc for moving between exchanges because it's too slow.
Anyway this all could be just a blip and crypto will continue to rise week after week without correction forever. Everyone will get a lambo to drive on the moon in a wonderful economy of greed and memes and scams.
3.
Post 24945695 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.28h):
If it is a coincidence that Tether is hacked three days after a social media campaign starts against it on Reddit, then that is a remarkable coincidence.
It reads to me like the growing hubub triggerring a bank run, and then Tether creating this incident in-house as a delaying tactic. Classic ponzi bank run behavior.
Ok let’s assume the rumors are true. Can we correlate the lift off in Bitcoin price to the date that Tether started circulating?
The price of Tether does seem to have a more or less inverse linear relation to btc from it's inception, which was around the time that btc found bottom from mt.gox.
https://i.imgur.com/afAYH5m.pnghttps://i.imgur.com/67bv9Ad.png
4.
Post 24969805 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.28h):
You guys need to chillax. Also, why do you guys consider Bitfinex to be the center of the Bitcoin universe? They suck, everyone knows it, no one trusts them, and hardly anyone I know even trades there.
If hardly anyone trades there, then why do they have the highest trading volume? If BFX really has a QE scandal and BFX leads the markets then the markets have a QE scandal.
It seems to me the order books on other exchanges are often meaningless with the major pairs and that the book that most accurately portrays market direction is the BFX book.
5.
Post 24980259 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.28h):
Is catching a knife the same thing as buying one where you are from?
6.
Post 24980767 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.28h):
idk it's possible this is all nothing, but when it hits msm where is that big institutional money going to go?
7.
Post 24985182 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.28h):
Sometimes resistance is just liquidity
8.
Post 25008462 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.28h):
I know a lot of you guys think this tether thing is just fud, but if it's true it essentially means that Tether is forging bank notes regardless of what their terms of service say.
And who exactly is buying USDT from tether? Why would any VC want to purchase usdt in volume in order to purchase other crypto's when they can just buy btc with fiat directly and not have the associated risks implied in the tether terms of service?
It might not effect things right away because the mania is so strong right now and any dip will be bought by fomo or by bitfinex QE, but if this is legit it could all unravel very quickly.
9.
Post 25161766 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.28h):
what's up with the ETH? why this pump?
Traders may just have decided it is time to pump ETH. OTOH since many alts are going up I rather think it is diversification: people who own more bitcoin than they feel comfortable holding through a bear market are moving some to alts.
... As if a Bitcoin bear market wouldn't affect altcoins greatly.
I think it's also possible that if people are anticipating a major market downturn and want to cash out to fiat and have large holdings on exchanges that do not offer non usdt pairs that they are buying eth as it will be faster for them to move that value to an exchange where they can actually perform a bank transfer.
10.
Post 25162063 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.28h):
Tether scandal is bullish long term for btc core: segwit, atomic swaps, decentralized exchanges
Short term: massive re-evaluation once QE disappears and institutional money pulls out with renewed skepticism
11.
Post 25164951 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.28h):
people pulling out of usdt exchanges?
12.
Post 25218163 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.28h):
Sure, Bitfinex had several opportunities already to employ an exchange exit scam -
For all we know, they have already executed two partial exit scams.
If you want to ground your views of the world on conspiracy theories, then sure that is possible.
I've seen enough exit scams. I know the way this story usually ends. 'Trust but verify' doesn't work, unless you actually get around to the verification part. How's that audit looking?
You don't know shit.... You are merely, guessing, assuming, speculating and also coming to too strong of a conclusion that there is a scam going on based on pretty skimpy evidence, even if you are proclaiming to have some kind of "gut feeling"
You're right. I don't know shit about Bitfiniex's situation. Which is why I don't trust them with my money.
'Trust but verify' doesn't work, unless you actually get around to the verification part. How's that audit looking?
Yeah, keep repeating your tagline, which is your last sentence to suggest that there is only one way in which the free market works....
Sure, we can have audits, and sure that would be helpful, but in the end, we have numerous people making choices to use the bitfinex service - and USA individual folks have been excluded from such choice by Bitfinex's own business decisions. Bitfinex also likely bans other kinds of accounts or does not verify every Tom, Dick or Harry that walks in the door - yet, they seem to continue to have enough of these Tom, Dicks and Harries to keep their business going - and maybe you could be correct, that some day they will do an exit scam.. perhaps... so keep whining about it, and try to scare people away from using their service.. maybe some people will believe and surely others will not, and perhaps, Bitfinex will chose, at some point, to change some of it's offerings or to improve its credibility through an audit or some other method that they choose, instead of an audit...
We are still in a kind of bitcoin wild, wild west, to some degree, which is both good and bad, but it is our current environment - and they don't have to do an audit, as you seem to be whining your preference as if it should be some kind of rule.
It's disturbing that talking about red flags regarding the practices of an exchange and a potentially fraudulent currency they have created is considered 'whining'. To me it seems that it's dismissed so quickly because it would mean a (healthy) correction and everyone just wants that quick easy money.
I've read sentiments on this forum that bitcoin is 'too big to fail' now and earlier in this thread someone said something to the effect that even if it's true that bitfinex is printing their own money to prop up the market that perhaps they are doing it out of benevolence... 'too big to fail'? ...Defending a centralized authority controlling market direction? If the community refuses to take this seriously and demand clarity then even if bitcoin reaches $500k it's a failure imo.
Meet the new boss, same as the old boss.
13.
Post 33455018 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.50h):
It's thursday, but instead of picking on Jay I will just look at the ROE on my short and watch the charts imagining all of his hopes and dreams evaporating.
14.
Post 33455218 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.50h):
Maybe the price is just going down because people deployed debt to fomo buy something they didn't bother to understand and had no intention of using...
Nah, must be manipulation.
15.
Post 33460759 (copy this link) (by Im not a robot) (scraped on 2020-04-04_Sat_15.50h):
Funny how the ATH was on the day futures went online.
Self fulfilling prophecy.
One thing I've noticed consistently with many people in crypto is the keenness, bordering on desperation, to defer to a higher authority. Futures volumes have been negligible much of the time but that hasn't stopped people blaming it for anything and everything or indeed referring to it for their own trades.
I think that article's a crock of shit in the main. Bubbliness couldn't have gone much further. It was crossing from ludicrous to plain insulting with some of the alt valuations.
There will come a time when instruments like this command things. It's not here yet. That said the concept can affect minds just as much as it being put into practice.
The way I see it the psychological road from 3k to 20k first was driven by people fomo buying btc post bcash launch to chase 'free money' from the countless other shitcoin forks. This attracted massive media attention w absurd price predictions and drew in more buyers. After segwit2x failure attention shifted to futures launch with the 'largest transfer of wealth' 'dumping on wall st' narrative, but there was no room for btc to gain further on futures launch as it was already priced in.
