Bitcoin in 2019: Solid reasons for a sharp rise in BTC price.

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3 Reasons Bitcoin’s Price Could Soon Rise to $10K

3 Reasons Bitcoin’s Price Could Soon Rise to $10K submitted by Ranzware to BitNewsLive [link] [comments]

What are the most likely reasons someone with a lot of bitcoin would want to keep the price from rising?

(besides the bitcoin some miners have to sell to stay profitable)
Why wouldn’t a higher price be good for everyone interested in bitcoin?
submitted by bitcoin-bitch to Bitcoin [link] [comments]

03-19 16:35 - 'For everything a reason I’ve just told you the reason why BTCs price is rising and the post should show you why it shouldn’t be. / Ummmm 🤔. / Cranfields always here to help you work it out.' by /u/CreepyCranfield10 removed from /r/Bitcoin within 3-13min

'''
For everything a reason I’ve just told you the reason why BTCs price is rising and the post should show you why it shouldn’t be.
Ummmm 🤔.
Cranfields always here to help you work it out.
'''
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Go1dfish undelete link
unreddit undelete link
Author: CreepyCranfield10
submitted by removalbot to removalbot [link] [comments]

As 20m more Tether are issued today, I think it's important for people to know that an unbacked Tether could be a big reason for the recent bitcoin price rise. (x/post)

The Basics
What is Tether? It's a digital asset distributed on the Omni token platform, which allows for assets to be issued over the bitcoin blockchain. Tethers (USDT) are supposed to be valued 1:1 with USD. Any new USDT is only supposed to be issued when there is at least an equivalent amount of USD sitting in reserve that can be redeemed at any time.
The point of issuing USDT is to allow customers to easily transfer USD value to exchanges, to create a stable reserve token to hold in times of volatility, and to allow exchanges to participate in USD-reference trades without having to hold or deal with USD KYC/AML compliance requirements.
Vast quantities of Tether have been issued over the past several months, almost $340 million are now in circulation.
But there are some problems with Tether as we know it today.
The Problems
  1. Tether's website claims it's 100% backed, regularly audited, and users have 24/7 access... but that's the extent of their proof. You really just have to take the them at their word.
  2. Tether hasn't provided any public audits, despite a promise of full transparency on January 15th, 2015 when Bitfinex acquired Tether
  3. After losing $72 million in a hack announced on August 2nd, 2016, Bitfinex issued a redemption token called BFX to their customers as a promise to pay back what they owed. They began paying this back at an increasing rate, finally buying back the remaining 95% of liabilities between March and April 2017. One theory is that Bitfinex was issuing Tether to themselves to buy assets, pay back the BFX tokens, and appear solvent faster. As long as the public held trust that Tether was worth 1:1 on par with USD and there was no bank run, this activity would go unnoticed. At that time, there were approximately 50m tether issued.
  4. Around that same time, Bitfinex's US banking troubles began as Wells Fargo blocked 180m in funds belonging to their parent company ifinex and Tether:
  5. Bitfinex then filed a lawsuit against Wells Fargo and withdrew it a week later. They to this day have not been successful in establishing a US banking relationship for their customers. This is important, because in order to back Tether, they need to hold USD reserves. So they're either lying, or they have another banking relationship set up to hold $340m worth of assets as USD equivalent.
  6. On August 11th 2017 Bitfinex suspended verification for US customers. It then seems extraordinarily odd that they continue to issue enormous sums of USD-backed Tether, where does the money come from?
  7. On April 18th, Taiwanese banks also began blocking wires to the Tether backed bank, suggesting the funding mechanism for Tether is tenuous and subject to the whims of the banking industry:
  8. The Tether whitepaper has a section called "Proof of Reserves" process, which essentially boils down to "You can see whenever new Tether are issued, and the issuance comes from our bank deposits, ...and you're just going to have to trust us on the bank deposits" The whitepaper goes on detail a summary of weaknesses:
Their responses to these threats mainly try to minimize their severity by claiming other banks and exchanges have these same problems, we should trust their banking partners because they are 3rd parties to Bitfinex, bank transactions are traceable on some level even if not public, and we should trust Bitfinex because their business owners information is public.
Dodging questions
The co-founder of Tether, udecker, participated in an interesting thread where someone was calling out the weaknesses in the process. His arguments included responses like
See above about the TOS - of course you don’t have a right to redeem your tethers for fiat. Who are you? Get an account and go through thorough KYC/AML if you want to do any fiat operations.
Try simple logic. Running a fractional reserve would mean that the company couldn’t stay in business. Why would it do that?
If Taiwan closes Tether’s accounts? For what reason? Tether is a legally operating business in Taiwan.
His responses seem naive to the fact that bitcoin exchanges can and have been operating as fractional reserves in the past under the guise of solvency.
nobodybelievesyou repied:
Most of your answers here so far have boiled down to "this would never happen!"
You also dodged his question about the audit, which has been getting asked and dodged now for almost a year.
https://www.reddit.com/BitcoinMarkets/comments/4vhak0/usd_wallet_idea/d5zfa48/
udecker's only response to this was
At least your username checks out.
External scrutiny
Various redditors and crypto news agencies have taken note of tether's issues over time.
Implications
So why care? What predictions can we make from all this?
  • Bitfinex either can't provide actual, verifiable, 3rd party proof of it's reserves backing Tether, or so far has not cared to.
  • If there aren't enough reserves in the bank to back the USDT, then not everyone will be able to redeem them for USD. A sudden sell pressure would see prolonged withdrawal delays, and a drop in the value of USDT
  • Issuing unbacked Tether would allow an exchange to appear solvent and obtain assets at essentially zero cost, driving up the market price of many digital currencies in the process as their supply dries up.
submitted by digital_del to btc [link] [comments]

'The *reason* bitcoin price is dropping is the rapid 1500% rise in 2 years, esp. the last 3 mo. The "scaling debate" is just a trigger. Relax.' | Andreas on Twitter

In a year or two we'll be laughing about all of this.
https://twitter.com/aantonop/status/886581777556398081
submitted by finalhedge to Bitcoin [link] [comments]

Why is the price rising so fast? A possible reason: there is a MASSIVE rise of the public interest in Bitcoin in Latin America (and some other regions)

Why is the price rising so fast? A possible reason: there is a MASSIVE rise of the public interest in Bitcoin in Latin America (and some other regions) submitted by themetalfriend to Bitcoin [link] [comments]

THE ECONOMIST: "There may be good reasons for buying bitcoin. But the dominant reason at the moment is that it is rising in price".

THE ECONOMIST: submitted by readish to Bitcoin [link] [comments]

Greater Fool Theory: The bitcoin bubble | There may be good reasons for buying bitcoin. But the dominant reason at the moment is that it is rising in price

Greater Fool Theory: The bitcoin bubble | There may be good reasons for buying bitcoin. But the dominant reason at the moment is that it is rising in price submitted by hitbyacar1 to neoliberal [link] [comments]

Five Reasons for the Current Rise of Bitcoin Price

Five Reasons for the Current Rise of Bitcoin Price

https://preview.redd.it/tykq9wsdf4531.jpg?width=800&format=pjpg&auto=webp&s=c7a46f8a0c34f0a7238905ee32236d88d14a4451
During the course of the weekend, Bitcoin, the top cryptocurrency by market cap spiked to $9,000 for the second time this year after May 30, 2019.
https://coinnounce.com/five-reasons-for-the-current-rise-of-bitcoin-price/
submitted by zorberger to u/zorberger [link] [comments]

Bitcoin [BTC]: Strongest reason for price rise is evolution of different players coming in, says ErisX CEO

Bitcoin [BTC]: Strongest reason for price rise is evolution of different players coming in, says ErisX CEO submitted by n4bb to CoinPath [link] [comments]

4 reasons why Bitcoin’s price keeps rising given all the negative news.

4 reasons why Bitcoin’s price keeps rising given all the negative news. submitted by Actualcrypto to btc [link] [comments]

4 reasons why Bitcoin’s price keeps rising given all the negative news.

4 reasons why Bitcoin’s price keeps rising given all the negative news. submitted by Actualcrypto to dogecoin [link] [comments]

4 reasons why Bitcoin’s price keeps rising given all the negative news.

4 reasons why Bitcoin’s price keeps rising given all the negative news. submitted by Actualcrypto to Crypto_Currency_News [link] [comments]

As 20m more Tether are issued today, I think it's important for people to know that an unbacked Tether could be a big reason for the recent bitcoin price rise.

The Basics
What is Tether? It's a digital asset distributed on the Omni token platform, which allows for assets to be issued over the bitcoin blockchain. Tethers are supposed to be valued 1:1, so $1 of USD = $1 USDT (tether) for instance. USDT is only supposed to be issued when there is at least an equivalent amount of USD sitting in reserve that can be redeemed at any time. The point of issuing USDT is to allow customers to more easily transfer USD value to exchanges, to create a stable reserve token to hold in times of volatility, and to allow exchanges to participate in USD-reference trades without having to hold or deal with USD KYC/AML compliance requirements.
Vast quantities of Tether have been issued over the past several months, almost $340 million are now in circulation.
But there are some problems with Tether as we know it today.
The Problems
  1. Tether's website claims it's 100% backed, regularly audited, and users have 24/7 access... but that's the extent of their proof. You really just have to take the them at their word.
  2. Tether hasn't provided any public audits, despite a promise of full transparency on January 15th, 2015 when Bitfinex acquired Tether
  3. After losing $72 million in a hack announced on August 2nd, 2016, Bitfinex issued a redemption token called BFX to their customers as a promise to pay back what they owed. They began paying this back at an increasing rate, finally buying back the remaining 95% of liabilities between March and April 2017. One theory is that Bitfinex was issuing Tether to themselves to buy assets, pay back the BFX tokens, and appear solvent faster. As long as the public held trust that Tether was worth 1:1 on par with USD and there was no back run, this activity would go unnoticed. At that time, there were approximately 50m tether issued.
  4. Around that same time, Bitfinex's US [banking troubles began](https://themerkle.com/wells-fargo-blocks-180m-in-funds-belonging-to-ifinex-and-tether-customers/] as Wells Fargo blocked 180m in funds belonging to their parent company ifinex and Tether:
  5. Bitfinex then filed a lawsuit against Wells Fargo and withdrew it a week later. They to this day have not been successful in establishing a US banking relationship for their customers. This is important, because in order to back Tether, they need to hold USD reserves. So they're either lying, or they have another banking relationship set up to hold $340m worth of assets as USD equivalent.
  6. On August 11th 2017 Bitfinex suspended verification for US customers. It then seems extraordinarily odd that they continue to issue enormous sums of USD-backed Tether, where does the money come from?
  7. On April 18th, Taiwanese banks also began blocking wires to the Tether backed bank, suggesting the funding mechanism for Tether is tenuous and subject to the whims of the banking industry:
  8. The Tether whitepaper has a section called "Proof of Reserves" process, which essentially boils down to "You can see whenever new Tether are issued, and the issuance comes from our bank deposits, ...and you're just going to have to trust us on the bank deposits" The whitepaper goes on detail a summary of weaknesses:
Their responses to these threats mainly try to minimize their severity by claiming other banks and exchanges have these same problems, we should trust their banking partners because they are 3rd parties to Bitfinex, bank transactions are traceable on some level even if not public, and we should trust Bitfinex because their business owners information is public.
Dodging questions
The co-founder of Tether, decker, participated in an interesting thread where someone was calling out the weaknesses in the process. His arguments included responses like
See above about the TOS - of course you don’t have a right to redeem your tethers for fiat. Who are you? Get an account and go through thorough KYC/AML if you want to do any fiat operations.
Try simple logic. Running a fractional reserve would mean that the company couldn’t stay in business. Why would it do that?
If Taiwan closes Tether’s accounts? For what reason? Tether is a legally operating business in Taiwan.
His responses seem naive to the fact that bitcoin exchanges can and have been operating as fractional reserves in the past under the guise of solvency.
nobodybelievesyou repied:
Most of your answers here so far have boiled down to "this would never happen!"
You also dodged his question about the audit, which has been getting asked and dodged now for almost a year.
https://www.reddit.com/BitcoinMarkets/comments/4vhak0/usd_wallet_idea/d5zfa48/
decker's only response to this was
At least your username checks out.
External scrutiny
Various redditors and crypto news agencies have taken note of tether's issues over time.
https://np.reddit.com/Bitcoin/comments/6719bj/tether_announcement_about_their_banking_problems/ https://hackernoon.com/the-curious-tale-of-tethers-6b0031eead87 https://cointelegraph.com/news/tethers-bank-problems-create-unease-as-token-value-slides-below-1 http://www.newsbtc.com/2017/03/21/tether-balance-sheet-unveils-large-discrepancy-usdt-usd-reserves/ https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330
Implications
So why care? What predictions can we make from all this?
  • Bitfinex either can't provide actual, verifiable, 3rd party proof of it's reserves backing Tether, or so far has not cared to.
  • If there aren't enough reserves in the bank to back the USDT, then not everyone will be able to redeem them for USD. A sudden sell pressure would see prolonged withdrawal delays, and a drop in the value of USDT
  • Issuing unbacked Tether would allow an exchange to appear solvent and obtain assets at essentially zero cost, driving up the market price of many digital currencies in the process as their supply dries up.
submitted by digital_del to Bitcoin [link] [comments]

4 reasons why Bitcoin’s price keeps rising given all the negative news.

4 reasons why Bitcoin’s price keeps rising given all the negative news. submitted by cryptoallbot to cryptoall [link] [comments]

Bitcoin in 2019: Solid reasons for a sharp rise in BTC price. - Coinnounce

Bitcoin in 2019: Solid reasons for a sharp rise in BTC price. - Coinnounce submitted by ulros to fbitcoin [link] [comments]

One reason Bitcoin price rises can be reinforcing /r/Bitcoin

One reason Bitcoin price rises can be reinforcing /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Four Reasons Why I think Price will Continue to Rise in 2016, Plus New Content Coming to Bitcoin Futures Guide

Four Reasons Why I think Price will Continue to Rise in 2016, Plus New Content Coming to Bitcoin Futures Guide submitted by Bitcoin_Markets to btc [link] [comments]

[#939|+263|111] As 20m more Tether are issued today, I think it's important for people to know that an unbacked Tether could be a big reason for the recent bitcoin price rise. (x/post) [/r/btc]

submitted by FrontpageWatch to longtail [link] [comments]

What are the reasons for the recent price rise? Is a dip coming? /r/Bitcoin

What are the reasons for the recent price rise? Is a dip coming? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Could the price of BTC rise significantly after segwit2x? and this is the reason why... /r/Bitcoin

Could the price of BTC rise significantly after segwit2x? and this is the reason why... /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Reason: Bitcoin's Crazy Price Rise Might Lead Owner of Bankrupt Former Exchange Mt Gox to Crazy Profits

Reason: Bitcoin's Crazy Price Rise Might Lead Owner of Bankrupt Former Exchange Mt Gox to Crazy Profits submitted by thefeedbot to TheBlogFeed [link] [comments]

2 Reason Bitcoins Price Continues to Rise  ETF Rejections Drove Price? Why Bitcoin's Price Continues To Rise - YouTube BUY THE DIP! Bitcoin PRICE Dives, Altcoins Rise! Where is BTC Price Going Next? Bitcoin Price Collapse The Real Reasons Bitcoin Halving 2020 Explained & Why Price WILL RISE!!!

The Reason Behind the Sudden Rise of Bitcoin Prices. Nevertheless, it seems that a few days later, positive forces generated enough upward pressure to overturn the negative trend. Although attributing a change in Bitcoin price trends to a single event is overtly risky, this time around it is difficult to find more than a single factor for the turn around. Chatter on social media seems to point ... Bitcoin and cryptocurrency prices have fallen sharply over the last few days, with around $50 billion wiped from crypto markets. [Updated: 07:32am EST 03/12/2020] The bitcoin price, which had been ... Simply put, when the price of bitcoin goes up, the price of altcoins drops in fiat value and ruins further in connection to BTC. This happens in light of the fact that, with BTC value development, altcoins’ reserve is pushed to bitcoin. In such a case, just altcoins having solid help can keep up its position. In 2017 we saw tremendous growth in both the price of bitcoin and the investment in initial coin offerings in the crypto space. This year, even though the price of bitcoin and the investment in initial coin offerings both have dropped sharply, the overall blockchain and cryptocurrency adoption have seen a significant rise. The price of Bitcoin went up by over 210% during the past year, trading from about $450 in mid-2016 to record-breaking levels of $1,400 in May 2017. In the eight years since its founding, Bitcoin ...

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2 Reason Bitcoins Price Continues to Rise ETF Rejections Drove Price?

2 Reason Bitcoins Price Continues to Rise ETF Rejections Drove Price? Tyler S. Loading... Unsubscribe from Tyler S? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe 30K. Loading ... Bitcoin continues to rise in the face of all challenges: Contentious hard forks, government intervention, mindless attacks... and stagnant transaction volume... Hold your etherum. This video is unavailable. Watch Queue Queue USDT and bitcoin price correlation. Market sentiment – everybody wants to buy the dip. ... Market sentiment – everybody wants to buy the dip. ... Skip navigation Article, Why Bitcoin Shoots Past $7500; https://www.cryptocoinsnews.com/bitcoin-price-achieves-new-time-high-7598-market-optimistic/ Bitcoin on its way to $2...

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