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About missdaboat

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  1. This is what I wrote in XLM forum.. is my understanding correct?
  2. Regulated Financial institutions are constraint by the respective government regulations. If China Central Bank says FIs are not supposed to use Crypto to Fiat and vice versa (which they are saying now), FIs will not use XRP even if it saves them 30% more. FIs are regulated, they do not want to lose their license.
  3. Woohooo! we are gonna be ricH!!! oh wait... Xcurrent...
  4. Let's say you are corret and Market corrected to eliminate tether value. It has only done it up till the amount of Tether printed as of 1st Feb. So, as long as Tether does not supply the audit and keep on printing tether after 1st Feb, you will have never ending correction to the market. The difference between Tether and other tokens is Tether is UNLIMITED in supply whereas other tokens are created with a LIMITED/Specified Supply by the ICO team. What Tether is doing (if it is not backed by actual usd) is equivalent to a Government printing unlimited amount of fiat currency. That's what is scaring the market. Theorectically, Tether can be printing money out of thin air to benefit it own founders, without any one stopping them. And there is no asset backing that 1 tether, so how can it be maintained at $1 forever when you have $400million in early 2007 backed by $400 million USD. Now, without an audit, they have $2bil tethers and you have to have full faith and trust in Tether that it is $1 ? There is even a twitter account setup dedicated to The Tether Printer! lol. You can see the market runup in December co-incides with the Tether printer going full steam. https://twitter.com/tetherprinter
  5. I thought inside teh arrticle, the Worri bank side says they are not using "ripple" currency to do overseas remittance.
  6. Wow... I might have missdaboat 'coz i bought at $0.20 instead of $0.02. But one thing is certain, I know your name says "Throw sarcastic comment or insult at the person , not the discussion and you win".
  7. More appropriate analogy would be :- 1) You get the customers(bank) into your Pizza Shop (Ripple DLT tech and payment system) 2) Customers must now eat your Hawaiian pizza (XCurrent) 3) You want to upsell your add-valued beef toppings(XRapid) which is delicious like heaven for next to nothing 4) Customers just want Hawaiian without the extra toppings because they don't eat beef, no matter how cheap or FOC it is.
  8. Actually, i believe this whole tether saga might accelerate the widescale adoption of XRP and XLM. They are known for their near instantaneous transaction time and tps capability. In times of heavy selling and buying, bitcoin and eth always freezed up the blockchain and it takes hours and days to clear. But switching out of your altcoins trades into XLM and XRP is immediate. What is lacking now is some exchanges setting up Fiat to XLM/XRP conversion and the ability for exchanges to hedge the price volatility of XLM/XRP.
  9. if they can get such easy access to the $1.8bil and $1.1bil bank accounts by just looking at the screen of BFX CEO/CFO and it is relatively simple to ascertain the fund is there. What is stopping the auditor, Freidman , from saying the same?
  10. What do you think will happened ? Tether collapse and all altcoins will get crushed and goes back to pre-November values? I noticed the huge volume in altcoins started around 15th December
  11. I'm more amazed there are people who still believe in Tether and think it's all FUD when they terminate their auditor just when things start heating up. In a listed company, if an auditor resigned on its own accord or get terminated by the company, it signals some serious accounting discrepancy which both sides refuses to compromise.
  12. Wait for Q1 especially January when the price suged! More interested in how much they sold.
  13. This is the first must read https://tonyarcieri.com/the-tether-conundrum https://medium.com/@michaelx777/is-tether-being-used-for-money-laundering-34b29fdc2b74 https://mashable.com/2018/01/29/bitcoin-tether-stablecoin-alleged-scam/#PEaVuvZUzkqx
  14. Yes. that's my worry. And from the last "audited" report, they have only half a billion of reserves. So, if there's 2 billion tether floating around, it becomes a FRACTIONAL currency system like FED (ie money printing). The amount of bitcoin is worth only 50% of its value at most . Optimistic since $20k bitcoin half is $10k Now. But, human mania might drive it down even further till $5000? or even to the last support of $1,000? And not to mention altcoins valuations is greatly dependent on them catching up to Bitcoin valuation. This mean downward adjustments in Altcoins valuation as well. If marketcap of bitcoin is only $50 billion, then most coins would definitely adjust downwards as potential liquidation of altcoins to buy BitCoin.
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