What in the hell is going on with Coinbase/GDAX right now?
OMG!!!!!!!!!!!
It is called pre-announced scheduled maintenance.
OMG!!!!!!!!!!!
OMG!!!!!!!!!!!
OMG!!!!!!!!!!!
No, it's called a colossal fuck-up that resulted in a flash crash on GDAX.
I think an underlying vulnerability in the exchange ecosystem right now is Tether, specifically its legality under banking laws in the various countries where exchanges are established and using Tether. Pegging an electronic token to the USD as a service to depositors is about as close as you can get to a bank without actually being a bank.
I think an underlying vulnerability in the exchange ecosystem right now is Tether, specifically its legality under banking laws in the various countries where exchanges are established and using Tether. Pegging an electronic token to the USD as a service to depositors is about as close as you can get to a bank without actually being a bank.
tether is simply irrelevant because it is not being uses as much as you think it is. the volume that it has indicates it very well.
this is a new thing that i have been seeing you and a couple of rather newly created accounts are saying! and honestly i can't see how we can even start talking about USDT while there are a lot of other things wrong with these platforms that are much bigger.
Where are you getting your tether volume data? Is that volume data the sole reason you claim that it is not "used as much as I think it is"? Also, are you suggesting that I'm a shill because I have a young account?
~$55 spread between Poloniex/BitFinex and Bitstamp/Coinbase. Normally, arbitrage would squash that kind of a spread. The only explanation I have is that there are withdrawal issues at Polo (we already know about BF issues) and/or deposit issues at Bitstamp and Coinbase.
2) the price of USDT tanked. it went down from $1 to $0.96 and that always increases the volume. and that is a 4% decline which is huge in something that is supposed to be worth a fixed $1 value.
Where did you see Tether tank to $0.96?
1) bitfinex situation is bad and USDT is tethered (lol) to that exchange for the most part so people are selling to get out with USDT since they can not do it with USD
Call me a dummy, but I do not understand this point.
Does Bitfinex offer Tether?
I have never seen that option on my Bitfinex account.
If Bitfinex does not offer Tether, then how could people use Tether to move their funds out of Bitfinex?
What am I missing?
Bitfinex does not offer Tether. However, Tether and Bitfinex are owned by the same parent company. It's all moot, because Tether is effectively disconnected from the banking system until further notice. My hunch is the banks realized that Tether was basically running as an unregulated bank, like Liberty Reserve 2.0. Guilt by association, so the banks disconnect from Bfx as well (that part is speculation). The only way to get funds off Bitfinex is to buy BTC with fiat, which is why the price is so high. Similar situation with Polo since Tether is fucked right now. Interesting note, the legal statement at tether.to makes it very clear that Tether is under no
obligation to convert tokens to USD. Bitfinex has been leading this rally for quite some time, so what happens now?
Alright JJG you're going back on ignore.
I've spent the last few months fighting back against BU trolls and explaining segwit to people, I join some others to express concern about the situation with finex and get labelled a "big block nut job."
Anyone with any real input want to weigh in on what's happening with finex? Is there any way to reliably withdraw USD out?
JJG is heavily invested in BTC and wants to profit, thus he cheerleads. Can't blame him, he's acting in his own best interest.
You can withdraw CHF (Swiss Francs) and HKD (Hong Kong Dollars) from Bitfinex as an alternative to crypto withdrawals. All fiat deposits are suspended.
Never looked into Tether. Seemed impossible on its surface. How is the peg maintained? Don't know, don't care - it is an inherent impossibility.
Issue 1:1 ratio between Tether and USD held in reserve. In theory, settlements would result in USD passed to the customer, Tether passed back to the originator, then Tether being destroyed.
bitcoin is literally the most interesting market on the planet.
^calm before the storm==bitcoin price is about to explode up north with leaps and bounds you were never expecting!! :-D weeeee++
Why? What fundamentals have improved recently?
bitcoin is literally the most interesting market on the planet.
^calm before the storm==bitcoin price is about to explode up north with leaps and bounds you were never expecting!! :-D weeeee++
Why? What fundamentals have improved recently?
Less new bitcoins to be found every 10 minutes. Like clockwork.
That's not an improvement, it's always been like that.
bitcoin is literally the most interesting market on the planet.
^calm before the storm==bitcoin price is about to explode up north with leaps and bounds you were never expecting!! :-D weeeee++
Why? What fundamentals have improved recently?
The fundamentals of the fiat currencies you measure bitcoin price with are worse than ever. That is why the country that will lose the most urgently needs a war.
If this were true, gold would be surging today.
))