Zerpening Part 2: The Sequel

[Guest]

6 minutes ago, HodlOnASec said:

I have watched fake sell walls pop up and disappear on Bitfinex, Binance, Bitstamp...

It's a rotten market. Just because some of them haven't been caught doesn't mean they are any better.

The price manipulation is one thing, being able to control it and hold it down. However, when you put Tether in play, they're creating 2.2 billion dollars out of thin air (as far as we know, they won't supply an audit). 2.2 billion dollars that can push the price of BTC upwards (because we know the market cap isn't accurately reported) and a simple one million $$ could push the price of XRP (which has billions of coins ,rather than millions) a whole 0.10, given that the whale walls aren't fully erected. Could you imagine what kind of inflation we're seeing if these Tethers are found to be fake, with no backing, with no audits (still no real audits, last auditor has been fired. Bitfinex has jumped bank to bank, avoided CTFC subpoenas and have used Twitter manipulation to try and silence others speaking about.) That one exchange could ruin it for the whole of us.

EDIT: I just remembered, Kraken is now reporting having lost their banking status due to Tether on their exchange.

Edited March 6, 2018 by Guest

[RegalChicken]

here's an article from 3 years ago about how 99% of BTC were controlled by only 1% of owners. 

https://www.ccn.com/1-bitcoin-community-controls-99-bitcoin-wealth/ 

[Alffons]

Just now, RegalChicken said:

I'm not convinced that it's over yet. 2018 will be the year that big money truly begins to pour in. but it may be another year or two before that money is fully invested.  we're only scratching the surface. 

 

You guys really think whales weren't manipulating markets 1-2 years ago?

Yes they were, but not as much as now. Knowledge of this whole **** has grown and number of whales and programming of bots have developed too

[RegalChicken]

1 minute ago, Alffons said:

Yes they were, but not as much as now. Knowledge of this whole **** has grown and number of whales and programming of bots have developed too

everything I'm reading is suggesting that there is greater diversity in ownership. There are more owners than before, spreading the holdings around.  there are definitely whales but there are a lot more small players than there were 2-3 years ago too. 

[DRAKON]

1 minute ago, RegalChicken said:

everything I'm reading is suggesting that there is greater diversity in ownership. There are more owners than before, spreading the holdings around.  there are definitely whales but there are a lot more small players than there were 2-3 years ago too. 

It is true !

https://ledger.exposed/rich-stats

[Guest]

6 minutes ago, Mr_McFearson said:

The price manipulation is one thing, being able to control it and hold it down. However, when you put Tether in play, they're creating 2.2 billion dollars out of thin air (as far as we know, they won't supply an audit). 2.2 billion dollars that can push the price of BTC upwards (because we know the market cap isn't accurately reported) and a simple one million $$ could push the price of XRP (which has billions of coins ,rather than millions) a whole 0.10, given that the whale walls aren't fully erected. Could you imagine what kind of inflation we're seeing if these Tethers are found to be fake, with no backing, with no audits (still no real audits, last auditor has been fired. Bitfinex has jumped bank to bank, avoided CTFC subpoenas and have used Twitter manipulation to try and silence others speaking about.) That one exchange could ruin it for the whole of us.

EDIT: I just remembered, Kraken is now reporting having lost their banking status due to Tether on their exchange.

I am tired of talking about how Tether is nowhere as big a deal as people make it out to be.

Another day, another time. Perhaps.

[Alffons]

1 minute ago, RegalChicken said:

everything I'm reading is suggesting that there is greater diversity in ownership. There are more owners than before, spreading the holdings around.  there are definitely whales but there are a lot more small players than there were 2-3 years ago too. 

Yes there are, lot more people putting their money to this game to loose. I really hope it is not what I think, but I am starting to think my money is gone (and NO It is not gone until I sell I know...)

[XRPisVELOCITY]

3 minutes ago, HodlOnASec said:

I am tired of talking about how Tether is nowhere as big a deal as people make it out to be.

Another day, another time. Perhaps.

Hold on a second, what was that?

[Guest]

Just now, HodlOnASec said:

I am tired of talking about how Tether is nowhere as big a deal as people make it out to be.

Another day, another time. Perhaps.

I'd be more than willing to hear your insight on it as well. I enjoy piecing together information. However, what I have taken from previous readings is that the Market Cap is incorrectly reported; that there is actually much less FIAT in the system than is being shown. Much of this is to due with some of the algorithms that CMC uses in conjunction with others; and also trying to report a dollar amount to altcoins that are being traded in BTC / ETH or some other coin rather than fiat. so users can feel comfortable seeing a dollar amount, rather than a coin amount.

[RegalChicken]

we've been saying this for a while, but I still feel we are on the brink. There are so many huge developments that are about to pop. 

[Guest]

Market cap in no way determines how much Fiat is in the system. This folly has been exposed many times over here.

If anyone looks at a $1B market cap coin and thinks that $1B is actually invested in it, it's their own damn fault and they deserve whatever the whales throw at them.

[CryptoOwl]

1 minute ago, Mr_McFearson said:

I'd be more than willing to hear your insight on it as well. I enjoy piecing together information. However, what I have taken from previous readings is that the Market Cap is incorrectly reported; that there is actually much less FIAT in the system than is being shown. Much of this is to due with some of the algorithms that CMC uses in conjunction with others; and also trying to report a dollar amount to altcoins that are being traded in BTC / ETH or some other coin rather than fiat. so users can feel comfortable seeing a dollar amount, rather than a coin amount.

In general market cap is very misleading indicator... There's plenty of discussion about this on the forum. 

[Guest]

Continuing this, if there is much less $$ in the system than is reported; Tether having maintained its 1:1 ratio promise (would literally mean that tether is a dollar for every u.s. dollar at all times) there is literally 2.2 billion DOLLARS of tether circulating. Note: with the Tether having being printed off, kickstarted Bitcoin's huge rise (and so with everything else that traded with bitcoin)

[steffenmanden]

2 minutes ago, Mr_McFearson said:

I'd be more than willing to hear your insight on it as well. I enjoy piecing together information. However, what I have taken from previous readings is that the Market Cap is incorrectly reported; that there is actually much less FIAT in the system than is being shown. Much of this is to due with some of the algorithms that CMC uses in conjunction with others; and also trying to report a dollar amount to altcoins that are being traded in BTC / ETH or some other coin rather than fiat. so users can feel comfortable seeing a dollar amount, rather than a coin amount.

Marketcap is purely = Last price x Circulating Supply.

A value that can never be pulled into fiat as the price would drop instantly sells started

[BLPinfinity]

Yes there are, lot more people putting their money to this game to loose. I really hope it is not what I think, but I am starting to think my money is gone (and NO It is not gone until I sell I know...)

How do you mean putting their money to lose? AFAIK you can only short with CFD which has no bearing on the underlying asset. So it's simply a lot of people and whales day trading plus us HODLers who are long as long can be.

Be patient in the tough times. When the institutional money comes (once they are protected by regulation and hedging instruments) it will pay off, very handsomely in my opinion too. [emoji4]