pretty much sums it up. This is what whole crypto market is based on and regulators do shit. While some poor shmuck gets jail sentence for insider trading or some other tiny crime.
all it would take to get to those levels is more fake money printed, lots of it. Remove fake Money and whole house of cards collapses. BTC would have never seen 10k without fake money most likely.
you have to know this sounds like complete sour grapes. Bitcoin has a market cap of 1.7 trillion and tether has a market cap of about 100 billion, but if the smaller one didn’t exist, the other one would be down 90%? Make the math make sense, brother
Also we have been arguing past each other for literally years and both sides just revert to say the exact talking points. The original point of this post was that the rubber will soon meet the road. The time for talk is nearly over because the US is going to pass stablecoin legislation this year. Tether will be forced to comply (or essentially admit they can’t comply) Point being all this talk is nearly over, we will see who is right this year.
Bitcoin is a global store of value and monetary asset You are correct, it is not tied to earnings, it is driven purely by supply and demand The more they debased the global currencies, especially the US $, the higher the price of bitcoin goes If you view it as FX, sure, look at its value compared to the JPY, Eur, Gbp, Cad, Turkish Lira, and so forth ask yourself, how all those global currencies have crashed in value against bitcoin they are all down >99% in the past 10 years against bitcoin As measured against other store of value assets, it's a bit tricky, we can use bitcoin as a unit of account, There are many examples of this, for example someone in 2013 sold a Porsche Cayman for 300 bitcoin ($39k) now the car is worth less than half a bitcoin A median house was worth 100 bitcoin five years ago, today worth less than 8 bitcoin There are $900 Trillion of Global store of value asset, and most of them are not in currencies that are guaranteed to lose their value, most of it is in baseball cards, arts, stocks, real estate, any asset that will appreciate in value over time due to scarcity Bitcoin is the ultimate digital scarcity, there is not enough for every millionaire in the US to buy 1 whole bitcoin Bitcoin will go to $1M/btc within 5 years, $5M/btc within 10 years and $10M/btc within 20 years...
easily achieved by wash trading with fake money. I understand that truth in unpleasant to hear. BTC is a real deal, but its price is a total manufactured fake.
how the hell does wash trading make something worth 1.7 trillion and by your math it should be worth 170 billion? Come on man you know that’s bullshit
easily. Look at daily tether volume. I have not checked recent stats but tether is 70% of daily volume. Remove it and price of crypto will plummet. Allow only audited stable coins to exist and BTC real price will shock everyone.
That is very interesting, RedDuke So, you're saying that btc is traded in the US markets against tether 70% of the trading volume Can you show proof of this? we got Blackrock, Fidelity, the biggest institutional traders, the CME futures, the options on the Bitcoin spot ETF's trading in the 10's of billions of $ of btc all using tether, huh?