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Is not this the truth that we do not know the real price of Bitcoin in USD, since it is monstrously distorted by USDT
So many crypto investors today are deeply worried that the prices of Bitcoin and other crypto currencies may be, indeed, being artificially pumped up by the most world-renowned exchanges (like Binance, Bitfinex, Poloniex and etс) allowing the customers on a large scale to use the controversial Tether coin in trading for Bitcoin. Today always when people buy Bitcoin for USD they totally rely on the price of Bitcoin in USDT since the most popular price tracking sites (like, CoinMarketCap.com and CoinCap.io) do not distinguish the BTC/USD pair from the BTC/USDT pair. How on Earth might it become possible at all??? Just think of what price of Bitcoin in USD would be if people might buy Bitcoin only for USD (or any other coin) but USDT? $1000? $100? $10? And this situation (the world without USDT) may happen very soon. ______ The current Bitcoin capitalization is a fake. The real everyday volumes of trading are a lot less than many think, just some hundreds millions. So 95% of the reported bitcoin volume is fake. https://www.bitcointradevolume.com/ ______ I wonder if is everyone just crazy? So some investors are seeing the current situation with Tether as a good opportunity for Bitcoin.What??? And it is a really a WTF situation. “The Tether debate does seem to have some people nervous, but not about Bitcoin,” Mati Greenspan, senior market analyst in London at eToro, said. What??? But not about Bitcoin??? It is crazy. He continues, “The most likely reaction would be for investors to swap their Tether for Bitcoin.” Okay, okay. They are already doing this, moving the Bitcoin prices in USDT (and of course, in USD) just up. What next? Next there will be the following situation: in the end people will be holding Bitcoin bought at high prices and there will not be Tether anymore. Of course, the prices will drop down dramatically. It is a long-term game.
11-25 19:44 - 'Move your bitcoin off of coinbase and all other exchanges or surrender control of the price of bitcoin in USD' (self.Bitcoin) by /u/BitcoinCanSaveUsAll removed from /r/Bitcoin within 1315-1325min
''' I hope people wake before it's too late to realize that the largest Bitcoin wallets in the world are held by these exchanges which are backed by Banks. Remember supply and demand determines value and banks can be made obsolete if bitcoin succeeds. Why would banks invest so heavily in the very technology that can supplant them? Control. Specifically control over the USD price of bitcoin. How? Relying on the ignorance of the masses who just "buy bitcoin" but leave them in wallets of the largest exchanges in the world that are heavily invested in by the banks. What does mainstream adoption matter when you control the largest wallets in the world? If supply and demand is what determines value and you have the bulk of the tradable supply you can suppress the price by trading back and forth with yourself without any losses regardless of USD price. Compounding this with the fact that they are the exchanges the masses use as on ramps to crypto and what the CFTC uses these "values" as references for futures contracts you can see how truly crazy this can be. Then, if you take it a step further and put the possibility of all the largest exchanges in the world getting into cahoots together this gets really scary. To me it's apparent that the exchanges have both the motive and means to see bitcoins price artificially restrained. TLDR get your bitcoin off these exchanges into wallets you control ASAP! If not then the bank backed exchanges will dictate USD prices indefinitely. ''' Move your bitcoin off of coinbase and all other exchanges or surrender control of the price of bitcoin in USD Go1dfish undelete link unreddit undelete link Author: BitcoinCanSaveUsAll
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