Quote:
Originally Posted by brainz01
4) Not sure how many read the article I posted
|
I read the article that was sent to me via another source, and thought, "hmm, I wonder what the Pelican OT people think of this." Looking at the comments posted here, it would appear that pretty much no one read the article.
I did read the article, and it is an explanation of a recent manipulation of the price of Bitcoin. But there is one thing I don't understand though, is that how Tether could be actually used to buy Bitcoin - there must be a whole bunch of people willing to trade their Bitcoin for Tether. I guess that's the whole point of moving it to the exchange - if they move it to the exchange, then Tether LTD is getting their Bitcoin and giving them fake-o Tether. But since the volume of Bitcoin that can be moved to the exchange and traded for Tether is limited by the volume of "Bob's initial purchase", I don't quite understand how the price gets levered - because we're still only dealing with a finite amount of "real money" ($100).
More info on this:
https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3
Please read the article mentioned in the first post before replying to this thread. Here is the link again:
https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3
-Wayne