Bitcoin discussion and news

[pinkychukkles]

From this article, this was interesting:

The latest fall comes after news that one of the largest cryptocurrency exchanges is being investigated by US regulators over its links to a digital asset which, detractors fear, could be inflating the price of bitcoin by billions of dollars.

The US Commodity Futures Trading Commission has been investigating the Bitfinex exchange and digital asset Tether since at least early December, when it subpoenaed both companies, according to a Bloomberg report published on Wednesday.

Tether is a cryptocurrency which is supposed to be pegged one to one with the US dollar. The idea behind it is to allow the flexibility of cryptocurrency trading, while still maintaining the stability of holding money in dollars rather than rapidly fluctuating digital currencies. Bitfinex allows users to sell bitcoins for dollars, and then “withdraw” the money using Tether tokens.

However, multiple critics, including one anonymous author writing under the name “Bitfinex’ed”, have suggested that Tether’s reserves are under-capitalised, and then when it creates new tokens, it does not deposit into reserves a corresponding amount of US dollars.

Since the majority of Tether tokens are used to purchase bitcoin, if they are not underpinned by equivalent US dollar reserves then a significant amount of the value of bitcoin would be based on shaky foundations.

Tether has said that all its coins are backed by dollars that it holds in reserve. Given there are more than 2bn Tether tokens outstanding, that means that the company should have billions of dollars in its bank account.

But it has yet to provide compelling evidence that it actually does have the reserves and, on Monday, fired its auditors saying that “it became clear that an audit would be unattainable in a reasonable time frame”.

“As Tether is the first company in the space to undergo this process and pursue this level of transparency,” it said in a statement, “there is no precedent set to guide the process nor any benchmark against which to measure its success.”

 

[ffsear]

Starting to look like the party is over

 

[phillm]

Starting to look like the party is over

8135.01 US Dollar

 

[mwgdrwg]

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[mwgdrwg]

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[rutabowa]

why is the daily express so interested in bitcoin? if you type a search into google to do with bitcoin the express articles fill the 1st page, they are doing about 5 pieces a day.

 

[rutabowa]

kind of mixed messages here

 

[butchersapron]

why is the daily express so interested in bitcoin? if you type a search into google to do with bitcoin the express articles fill the 1st page, they are doing about 5 pieces a day.

Because people keep searching for bitcoin articles on google.

 

[rutabowa]

Well more fool them as I didn't click on their links.

 

[binka]

Bitcoin is the new Diana

 

[Yossarian]

I'm surprised nobody came out with a DianaCoin.

 

[pesh]

Desmond has probably turned the newsroom and IT department's computers into a mining operation. The entire building is probably now running off a lamppost.

 

[ffsear]

 

[Ranbay]

 

[kabbes]

It won't be the first time it's lost most of it's value. There's no reason it won't recover, even it it takes years and years.

That’s right, keep telling yourself that. It’s impossible that the value of this tulip bulb could ever drop to £1.50. It’ll be worth a house again some day.

10 times what it was last January.

Not tremendously comforting to the mass market that were encouraged to mortgage their houses to buy it this December and January just gone.

 

[mwgdrwg]

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[mwgdrwg]

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[kabbes]

"that's right, keep telling yourself that"... christ kabbes you're coming across as patronising tit.

Patronising means talking down to people.

 

[mwgdrwg]

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[kabbes]

Lol, bless you.

 

[mwgdrwg]

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[mauvais]

why is the daily express so interested in bitcoin? if you type a search into google to do with bitcoin the express articles fill the 1st page, they are doing about 5 pieces a day.

The Sun as well - they combine (a) their prominent placement in Google as major news providers with (b) dynamic articles about popular subjects, in order to draw people in and get clicks on the rest of the site.

 

[mwgdrwg]

They have to advertise their click-bait somewhere, now that Facebook is banning cryptocurrency ads

 

[NoXion]

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Someone's got something to hide!

 

[mwgdrwg]

Someone's got something to hide!

No. Someone can't be arsed.

 

[NoXion]

No. Someone can't be arsed.

Now you see, if you'd just said that, speculation would have been unnecessary.

 

[mauvais]

Now you see, if you'd just said that, speculation would have been unnecessary.

Speculation, you say? How do I invest?

 

[gosub]

why is the daily express so interested in bitcoin? if you type a search into google to do with bitcoin the express articles fill the 1st page, they are doing about 5 pieces a day.

got to be based on you, google gives me CNBC, Guardian and Blomberg with 1 Express article second bottom of the page if I click the actual google news search

 

[NoXion]

got to be based on you, google gives me CNBC, Guardian and Blomberg with 1 Express article second bottom of the page if I click the actual google news search

Did a quick Google for "bitcoin price" and "bitcoin news", and I can report that I got only one result from the Express on the first page of both searches.

 

[planetgeli]

Who the fuck puts an apostrophe in "Lots"? Oh, it's McAfee. Official McAfee.

Stupid cunt.