Once it's fullscreen on desktop, rightclick > view image and twitter should show the full format. It's on my website as backup. The short of it:
ALL stable coins are backed by the SAME reserve! EVERY stablecoin shows mainly or even ONLY *Tether* flowing into it!
The USDC Audits are *FRAUDULENT* just like the 2018 Tether audit was. It reads exactly the same as the Tether audit did, only a bit more refined, and they found a willing criminal organization, Granton & Thornton, to run cover for them. It's no coincidence it started October 2018
SKIP THE BITCOIN PART! I'm not gonna have the value discussion here. We can all agree that there have been plenty of scams in history involving value. If you love bitcoin you'd want it to be scam free.
First off; Tether printed another 71,500,000 tether last night. Nice round number. Very organic. They printed 96,399,401 yesterday, what's that all about then?
Printed ~$500 million last 7 days, annualized $25,6 billion, down from $35B. Guess the rising price attention helps.
I needed a distraction after i hit that pile of bad memories and had a little panic attack; So i decided to make another crypto chart ^_^
Maybe this shows better *why* i don't trust Bitcoin volume as measured in trades instead of dollars.
It doesn't line up with the price spike
Peter Lynch in his 1994 speech said "Stocks aren't lottery tickets.... Coca Cola is earning 30 times what it did 30 years ago, its price has gone up 30 times. Bethlehem steel earns half as much as it did 30 years ago, the share price is half."
Well Crypto runs on Pure Demand.
IOTA is more reliable in price action because it's a private network with no ability to print more money AND it's an alt coin with a smaller market cap. Meaning it's out of the public eye, including Tether's eye.
And while Bitcoin might not be able to print more, Tether sure is.
This time, captured it LIVE! (just happened to realize i was checking at the right time).
Top numbers took longer to update, so added em myself. +33 mil tonight, interesting.
Think that's cause it's a Saturday. Markets are quiet.
In order to buy bitcoin for tethers somebody's still gotta trade the #bitcoin for tethers.
Currently they're fine that as #Tether's become the medium of exchange between #crypto.
Point is, with less market participants, less people willing to sell their crypto for Tethers.
BTW i'm also suspecting them of generating much of the bitcoin and tether volume in dollar terms themselves. If they'd move #crypto between accounts the they own on the exchange, it'd show up in the charts as volume. Since trade volume is low, they'd be pretty big block trades.
#Tether's pumping up #bitcoin due to it being perfect for the scam, but they can't put all their eggs into one basket. They've bought some Alt Coins too, so those will follow the same pattern as Bitcoin.
So, the same pattern that reveals the #bitcoin scam; A Parabolic curve up combined with a continual Reduction in Trading Volume as measured in Trades; Also reveal which other coins are affected by the same scam.
Lined up side to side by Unaffected #Crypto; the pattern is obvious
1. You missed #Tether. 2. Scarcity alone isn't enough. Only Utility is. BTC's only utility is Transactional capability - better alternatives exist already. 3. It isn't. Lightning network is a pipedream due to vested interests otherwise it'd be implemented; It's old already.
4. The dumbass energy argument again. Turn off 99% of BTC miners. Artificial difficulty adjusts down, just like it can adjust up. You retain the same transactional capability with 1% of the energy. Shut down 99% of all gold mines watch the price soar. Where's the energy?
Volatility = how far a price can move within a given timeframe. The shorter the timeframe + the bigger the move, the "higher" the volatility.
I'm really not going to short form explain this one. Simply because it's such comprehensive article. It is literally hours worth of reading time. Don't worry; i'll introduce a fix for that soon.
If you wanna read about tether alone; skip to about half way, until the first list.
As far as arguing about it goes; Gimme a day to recover. It's 5 am and i literally have a Gastroscopy in 4 hours where they shove a camera down my throat to see why my stomach hurts xD Still need sleep somewhere.
But my DMs remain open for contact! I'll get to it eventually.
Interesting read; and falls in line with how i'd expect oil to behave going into 2021.
The only thing i find missing is the perspective that War is good for the price of oil, US Shale *also* needs higher prices = more motive for the US-China war path.
Just to clarify, if we look at a #China-#USA conflict through the lens of #oil prices, i see:
1. The price of oil rises. 2. US #Shale needs higher oil prices. 3. China, being the worlds largest importer of oil by far, needs lower oil prices. 4. #SaudiArabia needs higher prices.
Higher #oil prices hurt Chinese industry while helping US industry (currency stays local because of #shale). It hurts the EU too but the US is pretty much past the point of caring about Europe, geopolitically speaking.
In this case, #Russia's the Red Herring. They don't matter.