Bitcoin Spikes to Over $7000

AlphaAtlas

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The price of Bitcoin briefly spiked to nearly $7800, before falling back down and stabilizing at $6650. This brings Bitcoin back to the price it was at before last week's big drop to $6250 a coin. CCN says that massive Tether selloffs were related to the spike, as that cryptocurrency is now sitting at $0.90 per coin. Tether has been used to manipulate Bitcoin prices before.

The needle then points to one thing: whether Tether has funds to support its USDT supply or not? It can only be found out with a clear and transparent audit. But, even on that front, the project has not come reasonably well. Against the promises made in their original whitepaper, the Tether team has not conducted a proper financial audit. It had however hired a legal firm, which already had a business relationship with Tether and Noble Bank, to perform an inspection. All stories collectively have created a negative community sentiment for USDT. Retail investors are already exchanging their Tether holdings for Bitcoin and other top coins, which have also seen an impressive rally in the past 24 hours.
 

Galvin

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Also shorts were extremely high as well, and natural fomo. Also bitfinex doesn't have deposits open. So no arb can happen
 

Sikkyu

I Question Reality
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dropped $150 form 7k. with the real market tanking i feel that btc will also tank. those thinking btc is insulated from big market charges are kidding themselves.
 

thebufenator

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So when is this supposed to replace my "worthless" fiat currency, again?

Whenever you want to conduct business across borders without a currency exchange into local currency.

Or have oppressive governments to deal with.
 
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Zarathustra[H]

Extremely [H]
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More Bitcon news.

People wanted a decentralized non-FIAT currency? You got it. You also got all the cons, schemes and manipulations that go along with it.

Cryptocurrencies are great for those looking to defraud others, and terrible for those suckers who actually have any faith what so ever in them.

For the rest of us? It's kinda d of meh.
 

seanreisk

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I have been very anti cryptocurrency on these forums, but I also feel that the gross amount of negative press about cryptocurrency has made it an easy target for my fellow haters. In fact, the sheer power of our hate has stifled the conversation, and I feel the pro-cryptocurrency members of these forums have tossed in the towel. And I don't want any man's towel. So I made a personal decision not to comment on anti-cryptocurrency threads if my views had already been represented elsewhere.

But I still want credit for my graciousness. So I'm here to say, "Hey, I'm not saying anything."



... "Not a word."



P.S. Nothin'. These fingers ain't talkin'.

P.P.S. If cryptocurrency is bought and sold on the internet, does that mean that cryptocurrency depends on the support of Net Neutrality?

P.P.P.S. <Looks for a picture of Ajit Pai>
 

ccityinstaller

Supreme [H]ardness
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Messages
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More Bitcon news.

People wanted a decentralized non-FIAT currency? You got it. You also got all the cons, schemes and manipulations that go along with it.

Cryptocurrencies are great for those looking to defraud others, and terrible for those suckers who actually have any faith what so ever in them.

For the rest of us? It's kinda d of meh.


So those of us that are still stacking cash are suckers? Right.

You can disagree with it, but the fact that I make money means it is worth something to me, and I do not "defraud" anyone. BC is the future, and CC's are responsible for dragging the world into modern times.
 

HockeyJon

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Whenever you want to conduct business across borders without a currency exchange into local currency.

Or have oppressive governments to deal with.

Let’s be honest here. Few people are actually involved in accumulating crypto because they actually want to use it as a currency. Most people are accumulating crypto so they can sell it later for something they can actually use as a currency, such as the US dollar. There’s nothing underpinning it’s value aside from that. The concept has value, but I fail to see it going mainstream until a central bank backs it up.
 

Retronym

[H]F Junkie
Joined
Mar 5, 2007
Messages
13,608
I have been very anti cryptocurrency on these forums, but I also feel that the gross amount of negative press about cryptocurrency has made it an easy target for my fellow haters. In fact, the sheer power of our hate has stifled the conversation, and I feel the pro-cryptocurrency members of these forums have tossed in the towel. And I don't want any man's towel. So I made a personal decision not to comment on anti-cryptocurrency threads if my views had already been represented elsewhere.

But I still want credit for my graciousness. So I'm here to say, "Hey, I'm not saying anything."



... "Not a word."



P.S. Nothin'. These fingers ain't talkin'.

P.P.S. If cryptocurrency is bought and sold on the internet, does that mean that cryptocurrency depends on the support of Net Neutrality?

P.P.P.S. <Looks for a picture of Ajit Pai>
Bitcoin was taken over by a group that places economics last in priority. The “thought leaders” are running around telling people to use credit cards and centralized trust agencies. It’s the exact opposite of its former self.
People look for alternatives only to be taken in by scam ICOs that are the equivalent of palm reading.
All the people that actually know anything in the space are inactive and waiting it out.
 
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