Cryptocurrency

[scooterscot]

The next 4-hours will tell us if this is a break out or a fake out. Volume is needed to sustain the breakout and I'm not seeing it, which may support the USDT story. Regarding USDT, it fell to $0.97, which is something that should / cannot happen unless they've not enough money in the back to support the backup, which would not be the first time I've heard that rumour.

[scooterscot]

OMG - USDT trading at $0.95 - That is interesting and TrueUSD trading at $1.08 whilst Dai trading at $0.99 - so far Dai is winning the stable coin race.

Wonder how USDT is falling, that shouldn't happen at all. Perhaps it cannot handle the trading volumes. It is crazy is handles $4b in volume anyway whilst refusing to prove it holds the money in the bank.

[VirtualMonkey]

A couple of the Telegraph groups I'm on have people blatantly FUDding USDT. Saying it's being delisted from Kucoin and Binance - which it isn't. It appears coordinated to get people to switch into BTC.

Added. This may turn out to be a self-fulfilling prophecy btw. It's not looking good for USDT at the moment.

It does look like a crash in usdt-usd that has caused this. What's odd is the increase in price for BTC-USD as well as the BTC-USDT price. Assuming USDT recovers (and I think it will if this is FUD) then it was a very quick profit for those who saw it happening
I was just speaking to some of the guys at work who are into crypto and it occurred to me that this, if it is intentional, may be genius....
way too early to tell but this could have just provided the spark for a new bull run...intentionally devalue USDT and a BTCUSD price hike comes in...which brings people's attention back to the upside of the market and short squeezes positions.
One can only hope

[scooterscot]

USDT continuing to drop in value, now $0.95. Larger traders will be not expecting a 5% drop on their holdings when they wake up!

[northernladuk]

Just warming up....

Honestly, why do you continue to post crap like this?

At best it might take off so finally one of your many predictions actually happen. I'm sure you'll act all Billy Big Balls about it when everyone knows a ******* blind 3 legged octopus could have a better predication rate.

Either that or nothing will happen yet again and you'll look like an even bigger dick.

[Hobosapien]

So USDT falling below $1 for a sustained period may cause the equivalent of a bank run when holders realise the value is not backed by real $ so try to get out while it's still worth nearly a $.

Tether's only hope, if it is indeed a scam (no proof of the billions of dollars being held as backing currency), is enough people think the current price is a bargain and rush to buy, thus propping up the price.

If tether fails to be supported, what is the likely impact on bitcoin and by association the tulipcoins? Crypto meltdown?

Edit: Previously low seems to be $0.91 in April 2017, so not totally new territory. Meh?

[TheGreenBastard]

Honestly, why do you continue to post crap like this?

At best it might take off so finally one of your many predictions actually happen. I'm sure you'll act all Billy Big Balls about it when everyone knows a ******* blind 3 legged octopus could have a better predication rate.

Either that or nothing will happen yet again and you'll look like an even bigger dick.

Well, he's got egg on his face this time by showing he hasn't got a clue.

[northernladuk]

Well, he's got egg on his face this time by showing he hasn't got a clue.

This time??

[scooterscot]

Seems someone really doesn't want to be holding USDT anymore - now trading at near $0.90c

[AtW]

Coinbase plans for hard Brexit by opening Dublin offices | Technology | The Guardian

Even tulipcoins are running away from Brexit Britain

Mods, the B word was used, please move this threat to dedicated subforum, tia!