What country are you from?

Something that happens only once in a blue moon sighted one minute back:

http://i.imgur.com/8XEsVSZ.png

24-hour change = 0.00%

Theymos GUARANTEES PROFIT from it.

Et tu, Theymos?

Our leader musta got bored or something....

This is not going down to 5K, is it, bears.
Buy now or cry later

What like this?

https://fat.gfycat.com/WeightyTautDeinonychus.gif

I hope it's not that kind of rocket.

Underrated post.

Nah man, its time for new lows. Market is dead. Below 7000 in 24 hours, below 6000 in 72 hours, below 5000 this time next week. 

#1 Someone has a habit of doing this:
 - Issuing new USDT
 - Within days, moving that USDT to BitFinex, Bittrex, and/or Poloniex
 - Using that USDT to buy crypto (seemingly a portfolio of BTC & others). They especially like to buy crypto when the price is just below whole numbers.
 - Moving the resulting crypto back to BitFinex
 - Rarely or never selling the crypto for USDT again
 
The authors argue that this is Tether/BitFinex themselves, and I think that this is in fact the most likely explanation.

You know the signature campaigners must have taken over the rest of bitcointalk if theymos is finally retreating to this thread too.

Nah, forget all that shit. Just move to Thailand. Beautiful young women go crazy for us fat old dudes.

Nope. Voted for $8-$8.5k.

Gotta remain optimistic that this bear run will break "hopefully soon-ish".

Why? Why not?

Best case would be that we get some sideways action. There's no reason to go up. Yet.

Meet the path to NEW "ATH" by year end (2018):

I just thought of something. Eventually there'll be some interest in brute force scanning bitcoin addresses to find one with the first few characters customized to your name, kind of like getting a phone number that spells out something. Just by chance I have my initials.

Bitcoin using too much energy is thus pure FUD as it originates in the sectors that will lose more or be
disrupted most by the blockchain, the latest being the Bank for International Settlements (BIS), a core
piece of the global banking infrastructure.

Bitcoin and other cryptocurrencies also potentially replace gold as an international asset of last resort and it is
said the energy expended raping the earth for the precious gold monetary relic is five times that expended on
bitcoin. Even if it was a 1:1, the replacement of gold by bitcoin would surely be an environmental good.

Bullshit statement.  Gold and silver are NOT "money of last resort".  Physical commodity currency is the only real money that exists.  It just so happens scams that do not represent any type of real world goods or wealth such as fiat and bitcoin have seemingly positive traits like less friction (i.e. the ability to transfer imaginary 0's and 1's around faster).  But you're not actually sending any type of wealth, it's just a meaningless ledger that says:  I have 999 units of imaginary, valueless garbage in my account and you have 0 units, so you are now my slave and must do my bidding.

Except your imaginary digital units have no valid Schelling point because it's based on artificial scarcity and anyone can create a new shitcoin to bypass you.  So no, nobody is ever going to be your slave while using fake money based on artificial scarcity unless you can also enforce that zero sum game slavery ledger with violence on top of it. 

The only way you're going to enslave anyone by having more arbitrary chits in your account than them without using violence to prevent them from bypassing your ledger is by using a real world good with intrinsic value that people actually need and they cannot bypass. You know, like hoarding all the physical silver as hostage and forcing them to pay ransom to get it.

we need a button observer thread!

9 years later...

- still 8-10 minutes per block
- still 21M cap
- still SHA256
- still no down time
- still never hacked
- still open source
- still decentralized
- still immutable
- still growing

#bitcoin is unstoppable. 🚀

QUICK list 12288 is finisht GOOD LUCK   WO's

16/04/2018 serveria.com
27/04/2018 BinaryReign
28/04/2018 Toxic2040
29/04/2018 BobLawblaw
30/04/2018 RayX12
05/05/2018 kaicrypzen
07/05/2018 InvoKing
...

CPA here. Former Big 4 Auditor. Have done said cash confirm procedures many times. Wanted to a share a few thoughts, FWIW.

• Cash Confirm Procedures.

These simply confirm a cash balance. The "unencumbered" written in the report after each balance is awkward, with no clarification as to the definition in the context of the report. I personally interpret that to mean unrestricted, non-escrow account, which I would expect this entity to hold their cash in--doesn't give me any additional confidence whether it was stated or not.

It's important to note that without a full audit, you're only seeing a third of the balance sheet categories right now. We have no information as to the entity's liabilities, and let's ignore equity for this discussion.

Without a full audit, we have no evidence that the entity has net assets. They could have $1 or $2.5B in liabilities, for all we know, thus rendering the true cash backing USDT (net of liabilities) unknowable

In my professional opinion, I do gain some confidence from the cash balances reported, but seeing only a portion of the balance sheet, the cash balances do little for me overall.

Additional note: the sentence in the report: "FSS did not provide the Tether personnel with any advance notice, nor did FSS provide Tether the account balance information gathered from the two banks prior to receiving the Tether balance information."

This also means nothing to me... The "advanced notice" portion is useless--Tether contracted FSS thus they know the procedures will occur. Also, Tether not providing FSS the bank balances and vice versa also means nothing--in fact, in a normal financial statement audit, you often are provided the balance by the client which you are confirming with the bank, which is totally legitimate. The fact that they didn't share balances doesn't give me any additional confidence, but seems written as if it's supposed to provide an uneducated reader such confidence.

• Choice of firm used

Strange to me that a legal firm is performing an accounting firm's role. An entity this large can easily afford a Big 4 accounting firm to perform these procedures. Or even a mid-sized firm, which would provide investors greater confidence over the report. While cash confirm procedures aren't very difficult, would you rather have a plumber or an electrician wire your house?

Also, note that the report reads:

"Judge Eugene R. Sullivan (Ret.), one of the partners, is a member of the advisory board of one of Tether’s banks. It was through this connection that Tether was introduced to FSS. As well, the firm's relationship with the bank allowed for the following review to commence in a timely and comprehensive manner, ensuring that no pertinent information was overlooked in the process."

While AICPA independence codes don't explicitly restrict an auditor from being on the board of a bank for which confirmation procedures will be performed with for a client, this falls into the gray area where the auditor would want to maintain independence "in form AND appearance."

Again, we aren't dealing with an accounting firm here, we're dealing with a legal firm. As I'm a CPA, not a lawyer, I am unaware of the independence rules that lawyers must abide by, and openly stating something like that, I'd imagine they are in the clear. Not ground shattering. However, contextually, Tether has struggled with accusations, and I find it strange that they wouldn't seek out a completely independent, third party accounting firm. Furthermore, the comments regarding the review occurring "timely/comprehensive/ensuring no pertinent information was overlooked" is very, very unprofessional. You wouldn't say something like this in an actual opinion and/or procedures letter, at least coming from an accounting firm, as it opens you up significantly to liability in the advent of a lawsuit. I'm rather surprised a legal firm would issue that in their report.

Final/Overall Thoughts: This report gives me no additional or decreased confidence in Tether. The questions it raises as to their lack of an entire audit, along with choice of firm, leave me with little evidence and don't do much for me.

Disclaimer: This isn't FUD, rather me hoping that my former boring job experiences and professional opinions might be worth something to someone. This also cannot be constituted as financial advice, and anything said within this comment is merely personal opinion based on professional experiences.

I agree with /u/sniper24usa , except for he / she is quite generously dismissing the 'they could of hired professionals, why didn't they?' - I would argue that is a classic, very direct indication of fraud and intent to mislead the public. They incurred, what, $200,000 in costs for this ultimately meaningless statement? When they could of hired qualified, licensed professionals for the same fee?

As he states, if someone pays $200,000 to a plumber to certify the electrical wiring of a high rise apartment complex for sale, I would suggest becoming triply skeptical as opposed to simply saying "hum", though it's not factual, direct evidence of fraud.

My statement :

I am an auditor, licensed CPA, etc.

I know lawyers, and how they act. Remember a lawyer's BONUS only comes in AFTER a client gets sued. Up until then, they just earn retainer, basic fee. During a lawsuit, they get millions.

Granted there are kind lawyers out there, but corporate lawyers are paid to lie. And I don't mean 'whoops' but out-right lie. This is their responsibility. They HOPE for a lawsuit, and management simply hopes they don't get caught.

Auditors are quite different. Auditors are NOT allowed to play stupid (lawyers are). Auditors LOSE money in a lawsuit, lawyers gain money. While Auditors ultimately serve management (see Auditors Tether Fired), their obligation is to walk away from bad relationships, AND to warn others. Lawyers have no such obligation, and typically are actually forbidden from disclosing information, even to governments, where as Auditors are required to divulged all information that contacts them. And not "if sued" but every 3 years, or so - so regularly Auditors get 'Audited', by competent professionals.

So... pretend there is a medical clinic that does fake surgery, profiting Billions of dollars in 'untraceable' currency. Let's pretend a medical hospital with a reputation 'audited' this fake clinic, and was fired half way through. Now rumors fly. Now say there is a LAWYER who says "I've confirmed this surgeries to be legit".

Is he telling the truth? Well... one, he's NOT A FUCKING DOCTOR, or an Accountant - so he has provided NO EXPECTATION OF EXPERTISE. Just as a hobo can tell you he can cure you with a magic crystal and not get into trouble, so can a lawyer. Doctors can not. Likewise, Auditors can not, regarding financial matters.

Two, they FIRED THE FUCKING AUDITORS, the QUALIFIED, AND EDUCATED PEOPLE. Sure, maybe it was because they were fat, too black, or some other weird dumbass shit you believe, but it's MUCH more likely it was because their conclusion would have been unfavorable. I mean, they probably paid them $100,000 up to that point, why fire them for having a bad attitude? It's more likely it was because $100,000 is less than the cost of preventing them from issuing a statement.

THREE, the person telling you the 'surgeries' (or tether) are legit IS THE FUCKING PERSON WHO GETS PAID MOST WHEN PEOPLE LIE AND ARE HURT from said lies. You might want to ask yourself, ARE LAWYERS CHEAP HOBOS WHO DO WORK FOR FREE? Why then hire dumbasses who cost ass tons of money to do work they are WAY unqualified for, unless their primary qualification (being able to lie, and profit from it), is the exact and only skill you need.

Lastly, as someone else mentioned (I haven't read the report), the lawyers statement is that AT ONE TIME, Tether had equal dollars as Tethers. You might notice how absolutely moronic that statement is. I can represent on paper to have 100x more money than I ordinarily do, if the only question is 'what's the most money you are capable of possessing' instead of how much money do you normally possess. Creating an artificially high 'spot' price for an instant in time is relatively easy. Thus the lawyers could technically be correct (best kind), but highly misleading to the public.
...
WHY FIRE THE AUDITORS, AND WHY HAVE A lawyer ISSUE THE AUDITORS REPORT INSTEAD? Because they get paid to lie, dip.

But all that said, I suspect Tether has ~80% liquidity. I am 100% confident they have not had 100% liquidity, at all times. Just observing their business practices, I also feel confident they are planning for a lawsuit, and to flee jurisdiction. Maybe it takes years before their bubble gets popped, maybe never. Really all you need is around 40% liquidity to keep something like Tether working. But perpetual fraud is costly, and as time goes on they are more likely to eventually pop. Sure use Tether all you want, but calling it 'backed' by dollars is pretty stupid. It's just a centralized banking system put on to crypto with a false pretense. Is that a problem? Well, maybe, and maybe not.

Tether could also have 100% of their amounts backed up all the time now, who knows. But they fired their auditors, and hired a lawyer to issue an auditors report lookalike. Surely most are smart enough to know what that means.

@waxwing__
Yeah, it'll be stable, but it'll be stable at 0. If the reward is 10 and the current total supply (after 1 trillion blocks) is 10 trillion. (I ignore the natural loss phenomenon, but I think you were too).

Looks like another great day to enjoy a nice bottom:

The bitcoins gods are angry. We must sacrifice more!

I am fucked.

All my life savings are gone. (Ok ok not all, let's say Ive lost a great deal) I kept buying since 15k and downwards with the hopes of a bull market comeback.

Bears came in my ass.

Blood on the streets.

Abandon fucking ship.

Run to the hills run for your lives.

Btc was a pump&dump casino scheme without any real world usage after all.

Btc is dead.

R.I.P

Time to buy?

Shocking if true... mostly its inside job, I always fear of such incidents I knew one low level exchange saving their data on google drive.

Hacked Customer Data From World Leading Cryptocurrency Exchanges like Bittrex, Poloniex, Bitfinex, and Binance is sale On The Dark Web?

On a darknet market called “Dread,” a vendor going by “ExploitDOT” is attempting to sell user data from the know-your-customer (KYC) data top cryptocurrency exchanges ask for, required by most jurisdictions.

the hacker has an ad that has been online since July 2018, in which he claims to have hacked documents used in KYC checks – including identity cards and drivers’ licenses – from users of top exchanges.



As proof, the cybersecurity expert got pictures of individuals holding up a piece of paper with the word “Binance” and the date the picture was taken at. In these pictures, their faces are visible, as well as their identity cards or drivers’ licenses.

https://www.ccn.com/hacked-customer-data-from-world-leading-cryptocurrency-exchanges-for-sale-on-the-dark-web/

I found this one
https://9to5google.com/2019/01/23/galaxy-s10-leak-cryptocurrency-wallet/

shit market

shit thread

shit

Yeah.. there are a lot of dumb asses out there that are deluded into a belief that ETH is kind of similar to BTC.  That is why they market or promote "crypto" items in ways that include ETH as if it were some kind of BTC equivalent.

Lol you deserve one for this post.
I’m out of sMerit though

We're going digital, you know it and there's nothing you can do to stop it.  Your energy would be better spent working to help bitcoin decentralize.

In TA-related news,
https://www.newsbtc.com/2019/01/26/bitcoin-btc-could-be-gearing-up-for-a-big-move-as-sideways-trading-persists/

it could see a price surge up to $40,000.

The chart is not informative.  It is in fact misleading.

With your presentation of that nonsense chart you appear to come from some kind of BIG blocker nutjob camp that tries to prescribe what people should be doing with their bitcoins?  And to suggest that people are only good bitcoiners if they are attempting to spend their bitcoins.

The chart merely presents a bunch of false and denigrating choices that attempt to force any reader to assert that s/he is using/spending bitcoin... and therefore, attempts to assert that the only way to be a virtuous bitcoin user is to actually use/spend bitcoin.

I've seen Roger and some of the other BIG blocker nutjobs make those kinds of assertions and try to trap people into being less than good bitcoiners if they are not regularly transacting with their bitcoins.

You really believe that NONSENSE?  Are you capable of thinking a bit deeper about a variety of bitcoin usages including that various bitcoin systems are still being built (including some regulatory (eg taxation) hostility to spending and accounting for spending of bitcoin), and you should question yourself about why you are presenting false dichotomy bullshit ideas, here.

fuck, everything is monitored, even crypto. even assholes know everthing about me.

Looks like even more promotion for bitcoin.
By a pornstar? So is this good publicity?

Atleast she has a football jersey on and not in her work clothes.