Currency Wars, USD, YEN, Bitcoin and what it means to you.

Talk about anything here. Post lifespan is 1 year.

Postby cktbreaker on Sat Jul 14, 2018 1:27 pm

letstalkprints wrote:made a decent purchase yesterday in gbp. what the fudge happened to the exchange rate yesterday. it settled down, maybe just bad timing on my part, but anyone know a good website to view historical detailed exchange rate by hour?


Trading view, set candles to 1hr.
cktbreaker
Art Expert
 
Status: Active
Posts: 1452
Joined: Sat Jun 13, 2009 10:44 pm

Postby cktbreaker on Sat Jul 14, 2018 1:37 pm



Making more tether as demand for it goes up is normal. It's almost always 1:1usd. Making more doesn't knock the price down like it would with other crypto. You can't make % trading it or move the market exiting it. right now everything I have on Binance is in tether besides BNB.
cktbreaker
Art Expert
 
Status: Active
Posts: 1452
Joined: Sat Jun 13, 2009 10:44 pm

Postby maddoghoek100 on Sat Jul 14, 2018 6:24 pm

cktbreaker wrote:


Making more tether as demand for it goes up is normal. It's almost always 1:1usd. Making more doesn't knock the price down like it would with other crypto. You can't make % trading it or move the market exiting it. right now everything I have on Binance is in tether besides BNB.


Making more tether IS NOT NORMAL! Tether is 1:1 usd because the claim is that they have USD reserves backing it. They have not to date produced evidence supporting that claim, fired their auditor, and are under scrutiny from the CFTC. They can not mint tether from thin air, any anyone holding it is either foolish or just hoping they are not the last fool holding it.
User avatar
maddoghoek100
Art Expert
 
Status: Active
Posts: 2879
Joined: Wed Jun 08, 2011 1:03 am
Location: NYC

Postby finneganm on Sat Jul 14, 2018 9:40 pm

I don’t know fudge about tether, but if that’s (^) true, lulz.
User avatar
finneganm
Art Freak
 
Status: Active
Posts: 15185
Joined: Sun Jan 08, 2012 7:08 pm
Location: NJ
...
...
That's what she said

Postby cktbreaker on Mon Jul 16, 2018 5:10 pm

maddoghoek100 wrote:
cktbreaker wrote:


Making more tether as demand for it goes up is normal. It's almost always 1:1usd. Making more doesn't knock the price down like it would with other crypto. You can't make % trading it or move the market exiting it. right now everything I have on Binance is in tether besides BNB.


Making more tether IS NOT NORMAL! Tether is 1:1 usd because the claim is that they have USD reserves backing it. They have not to date produced evidence supporting that claim, fired their auditor, and are under scrutiny from the CFTC. They can not mint tether from thin air, any anyone holding it is either foolish or just hoping they are not the last fool holding it.


Where do you think US dollars come from? What is backing the US dollar?
cktbreaker
Art Expert
 
Status: Active
Posts: 1452
Joined: Sat Jun 13, 2009 10:44 pm

Postby bkboy77 on Mon Jul 16, 2018 9:33 pm

cktbreaker wrote:
maddoghoek100 wrote:
cktbreaker wrote:


Making more tether as demand for it goes up is normal. It's almost always 1:1usd. Making more doesn't knock the price down like it would with other crypto. You can't make % trading it or move the market exiting it. right now everything I have on Binance is in tether besides BNB.


Making more tether IS NOT NORMAL! Tether is 1:1 usd because the claim is that they have USD reserves backing it. They have not to date produced evidence supporting that claim, fired their auditor, and are under scrutiny from the CFTC. They can not mint tether from thin air, any anyone holding it is either foolish or just hoping they are not the last fool holding it.


Where do you think US dollars come from? What is backing the US dollar?


It is backed by the US government. Last time I checked, the US government owns a nice amount of oil reserves. It has a good amount of untouched natural resources that they can potentially sell. It also has a powerful military that can conquer another country and take all of its resources too... the same way the Lanisters wiped out the Tyrells to pay the debt owed to the Iron Bank. I love a good GOT analogy.
User avatar
bkboy77
Art Expert
 
Status: Active
Posts: 8551
Joined: Sun Apr 08, 2012 10:58 pm
Location: Burger King
fung430 wrote:Expressobeans knows everything.

Postby hax0n on Tue Jul 17, 2018 5:53 pm

PUMP IT
User avatar
hax0n
Art Expert
 
Status: Active
Posts: 2718
Joined: Thu Feb 16, 2012 6:43 pm
Location: Keepin' Austin Weird
ImageTrade Stocks & Crypto w/ Robinhood | Bitcoin Options w/ Deribit | Trade Alts @ Binance | Trade Crypto up to 100x Leverage @ BitMEX
electrachrome wrote:None of us who are responsible for this website really have any idea how it works

Postby chevyav53 on Wed Jul 18, 2018 10:01 am

hax0n wrote:PUMP IT


Then dump it while you can :)
User avatar
chevyav53
Art Connoisseur
 
Status: Active
Posts: 815
Joined: Thu Jan 26, 2017 4:11 pm

Postby 63schoeffling on Wed Jul 18, 2018 10:38 am

Hope everyone kept loading up on their respective bags the last 6 months.
User avatar
63schoeffling
Art Expert
 
Status: Active
Posts: 7994
Joined: Sun Jan 01, 2012 10:52 am
ImageImageImageImageImage

Postby maddoghoek100 on Fri Jul 20, 2018 12:15 pm

cktbreaker wrote:Where do you think US dollars come from? What is backing the US dollar?


not to take anything away from BK's hilarious response but paradigm shifting new world orders have not done much to supplant basic economics. the US dollar is backed by the faith and good credit of the US government, and the Treasury department is entitled to print as many paper bills as it would like. Lots of paper bills chasing a limited supply of goods creates inflation. So, now we come to the problem of a currency peg.

Tether has pegged its value to the US dollar at 1 to 1. That was a policy decision they made, not some economic truth. If you want to use a fixed exchange rate you will have to defend it with open market transactions. In most cases that function is performed by a central bank keeping hard currency reserves. In this case Tether is maintaining the peg by making a rather precarious claim that they are keeping USD in reserve to back each Tether in circulation. So they should be able to defend the peg in the market by buying up tether and pulling them out of circulation. No one has yet tested them in the open market and tried to break the peg because there are not a lot of market mechanisms (if any) to put on a large enough short position.

So that brings us to my comments from before. I dont think that Tether could have access to the amount of fresh capital they would need to back recent releases of new tether and if i could think of a way to go soros on them and try and crack them like the bank of england i would. It has to be the biggest single opportunity in crypto at the moment, the handwriting is all there on the wall, but there is just no great way to execute the trade.
User avatar
maddoghoek100
Art Expert
 
Status: Active
Posts: 2879
Joined: Wed Jun 08, 2011 1:03 am
Location: NYC

Postby 63schoeffling on Fri Jul 20, 2018 2:00 pm

So I think this BTC ETF is going to get passed. While I hold basically zero BTC, this will be fantastic for crypto as a whole and will lead to ETH futures and ETF as well.

:pint:
User avatar
63schoeffling
Art Expert
 
Status: Active
Posts: 7994
Joined: Sun Jan 01, 2012 10:52 am
ImageImageImageImageImage

Postby hax0n on Sun Jul 22, 2018 11:09 pm

nice fakeout then breakout today. beep beep here comes 8k :pint:
User avatar
hax0n
Art Expert
 
Status: Active
Posts: 2718
Joined: Thu Feb 16, 2012 6:43 pm
Location: Keepin' Austin Weird
ImageTrade Stocks & Crypto w/ Robinhood | Bitcoin Options w/ Deribit | Trade Alts @ Binance | Trade Crypto up to 100x Leverage @ BitMEX
electrachrome wrote:None of us who are responsible for this website really have any idea how it works

Postby SwampButt on Sun Jul 22, 2018 11:11 pm

hax0n wrote:nice fakeout then breakout today. beep beep here comes 8k :pint:

Beep beep remember 18k?
SwampButt
Art Enthusiast
 
Status: Active
Posts: 78
Joined: Mon Dec 04, 2017 2:00 pm

Postby hax0n on Sun Jul 22, 2018 11:19 pm

SwampButt wrote:
hax0n wrote:nice fakeout then breakout today. beep beep here comes 8k :pint:

Beep beep remember 18k?


I remember $18 :lol:

P.S. Theo wants to have a word with you :wink:
User avatar
hax0n
Art Expert
 
Status: Active
Posts: 2718
Joined: Thu Feb 16, 2012 6:43 pm
Location: Keepin' Austin Weird
ImageTrade Stocks & Crypto w/ Robinhood | Bitcoin Options w/ Deribit | Trade Alts @ Binance | Trade Crypto up to 100x Leverage @ BitMEX
electrachrome wrote:None of us who are responsible for this website really have any idea how it works

Postby hax0n on Sun Jul 22, 2018 11:28 pm

maden wrote:You should have invested in bitcoins.
User avatar
hax0n
Art Expert
 
Status: Active
Posts: 2718
Joined: Thu Feb 16, 2012 6:43 pm
Location: Keepin' Austin Weird
ImageTrade Stocks & Crypto w/ Robinhood | Bitcoin Options w/ Deribit | Trade Alts @ Binance | Trade Crypto up to 100x Leverage @ BitMEX
electrachrome wrote:None of us who are responsible for this website really have any idea how it works

PreviousNext

Return to Anything Goes



Who is online

Users browsing this forum: No registered users and 5 guests