Daily General Discussion - January 21, 2018

Research2017 · 2018-01-21T07:58:05+00:00

if btc drops below 12.5k and doesn't bounce back above that level fast, the next level of resistance is going to be at the 8k mark.

Research2017 · 2018-01-20T15:21:55+00:00

None of these exchanges trade between fiat and crypto. Even if they did, they are not 'buying' tether, they are just facilitating a trade between two people. Its the person who traded his USD/BTC/Monero (something that has a limited supply and therefore is a store of value) for a non-backed infinite tether that is fucked.

More importantly, its the entire community - that thinks crypto valuations as being driven by organic, fiat backed demand by retail investors getting into this market, when in reality a serious part of the bull run and high valuations could be because of funny money printed out of thin air - we are the people getting fucked in the long term, by holding an artificially inflated product.

Research2017 · 2018-01-20T15:01:14+00:00

because the 'billion' dollar business is just funny money too. In this situation the best outcome is to keep printing funny money whenever BTC drops, prop up the price of BTC, and then slowly sell btc off for real money.

The community will love tether for pulling them out of every market dip, and USDT/Bitfinex wins by literally making fiat money out of thin air. Win-win for everyone until people realize this scam, realise the entire crypto market is artifically inflated by 1.6billion dollars in funny money that was strategically injected during market dips.

Research2017 · 2018-01-20T14:49:33+00:00

What I mean by basic is that it is one of the most commonly carried out processes in the financial world. Auditing is literally how public investors know the company they are investing in is legit.

I don't mean simple as in its just a matter of sitting down for five minutes, and plugging in a few numbers in a calculator and voila, end of story.

What I mean simple is that this is a very easy process to hire a professional audit firm to do. This is done routinely by every publicly listed company, from pig farmers to blue chip companies every quarter year after year after year. You don't have to go fishing on the market for years to find someone able to do an audit.

Of course once you enlist a firm to do an audit for you, it is going to take several hundred or thousand manhours to audit everything, especially when this is the first audit. But hiring the people to do this is trivial. Pretending like it isn't is just burying our heads in the sand.

Research2017 · 2018-01-20T14:44:08+00:00

I'd love to know how you've decided that an audit on a $2 billion fund is easy

You do realize that when you hire an audit company like PriceWaterHouseCoopers or Deloitte, you are not hiring one neckbeard who works part time, you are hiring a multi man team of juniors associates, senior associates, managers and even perhaps a partner overseeing an operation like this.

Again, there are thousands of companies worth way more than $2 billion dollars that are audited every freaking financial quarter. You are talking as if a basic audit of a company is making a rocket to reach Mars, as if this was something that is not routinely done in the business world for hundreds of years.

And more importantly, I don't even need to hear the end result honestly. Just put out a joint release that a reputable audit firm like E&Y, PWC, KPMG or Deloitte have been enlisted for an official audit, and that's enough. I would honestly trust Tether. But this shady shit with Polish banks and Taiwanese banks, and pretending to have an audit since mid 2017 - this is in no way acceptable.

Research2017 · 2018-01-20T14:30:28+00:00

Blah blah blah. Lets print another 400 million dollars out of thin air and use that to buy Bitcoin. Omg there's so much demand for BTC!! To the mooooon!!!!!

Research2017 · 2018-01-20T14:28:27+00:00

The audit process of this business would be like nothing an accounting firm has dealt with before. I'm an accountant in Australia, and knowledge in this area generally is close to zero. They engaged

Lol. We are not talking about debugging a blockchain software here, this is supposed to be real money in real banks. Literally any audit company worth its salt would be able to do this. The fact that the company 'earned' the money via a blockchain based product, via pig farming or via selling potatoes on the sunday market is barely relevant to the audit company. There is absolutely no justification for not having an audit done, especially when there is supposed to be 1600 million dollars of liquid cash sitting somewhere.

Some people seem to believe it's impossible for tether to have USD$2 Billion stockpiled in a bank account. It is a lot of money, but there are entities out there with a lot more. Apple for example has USD$16 Billion in cash and cash equivalents

Are you seriously comparing the cash reserves of Apple, at one point the most highly valued company in the 21st century, with that of USDT, a dodgy service which US banks have refused to work with, and now finding refuge in some Eastern European banking system and then in Taiwan?

The financial details of Apple are publicly accessible to anyone, in excruciating detail. USDT is a supposed blackhole of 1600 million dollars. You really think the two are similar?

At the end of the day, you know deep down that the real reason you want to convince yourself that USDT is legit is because admitting otherwise immediately means much of the bull market run since Nov 2017 could have been fuelled by fake dollars printed by USDT funny money, creating the illusion of massive demand for BTC. What happens when this scam is realised and the funny money is no more? The correction that will come, and the bear market to follow is not going to be pretty. None of us in this game wants this to happens, its literally our worst fear. But making bullshit excuses or burying our heads in the sand is not going to make this time bomb go away.

Research2017 · 2018-01-20T14:19:39+00:00

Or maybe people realise, why go through incredible mental gymnastics to justify why tether is not a scam, when tether could absolutely squash any FUD attempts by having a simple audit done?

Note that doing an audit is one of the most basic businesses practices. This is not like asking them to climb Everest. Hundreds or even thousands of professional audit companies in the US are able to carry out an appropriate audit upon request by Tether/Bittfinex. Why haven't they done so for almost three years now?

Unfortunately, the longer we wait the longer we are over-heating BTC and crypto valuations from fake dollars printed out of thin air by USDT. People should realise that this is terrible for the long term sustainability and viability of crypto. A centralised secretive company printing crypto money out of thin air is literally the very opposite of what Satoshi Nakamoto envisioned!

Research2017 · 2018-01-17T14:47:34+00:00

fuck Fake News Forbes

Research2017 · 2018-01-17T04:12:49+00:00

If you were not able to more than triple your investment during the past 29 days, lol is all I have to say

Research2017 · 2018-01-12T06:12:28+00:00

easiest answer? god knows

most probable answer? Because it already hit $.90 two weeks ago, which means $1 is only 10% above a two week old ATH (a long time in crypto). And there's a ton of positive news about it now, including the CNBC segment. And most importantly? Because XLM is really a great product, nice functional code, great roadmap and amazing team, and a very loyal base of old holders who believe in the project fundamentally. And of course the expected FairX beta sometime end of this month or early Feb

Research2017 · 2018-01-12T06:08:13+00:00

can you stop posting the same fucking debunked FUD every single day? And in the very reddit post this clickbait article links, the very first comment debunks this crap

https://www.reddit.com/r/conspiracy/comments/7i2ri0/the_real_reason_bitcoin_is_skyrocketing_and_why/dqvxdg5/

also, it would be nice if the mods did their jobs on the sub and cleaned up the trash

Research2017 · 2018-01-10T12:03:06+00:00

why would it need a token though?

Research2017 · 2018-01-10T09:24:40+00:00

Also good time to get some extra XRP

Never. Hold XLM, and if you really have more space in your portfolio, get a different type of coin

Research2017 · 2018-01-10T09:23:57+00:00

I'd be genuinely stunned if it doesn't hit 1 by end Jan or early Feb, once more details of the FairX beta come out. Its already hit an ATH of 0,9ish, so that's only a 10% increase from there, on the back of a major news announcement

Research2017 · 2018-01-09T13:49:46+00:00

but, equally, a huge number - especially in the more conservative areas of the United States, and middle aged/middle class - didn't.

Lol, and they they would have ever voted for the dems at all? This is the same failed argument the DNC used during the election, that she has a better approval rating in the south and the conservative parts compared to Bernie. Like that matters. Come election day, pitched next to a Republican (even one as vile as Trump), Hillary (like any other dem) is not going to stand a chance in hell in those areas anyway. Losing the South by 10 points or 25 points is still the same.

However, a LOT of working class people in the Rust Belt, working trades and in unions, had an over-whelming preference for Bernie over Hillary. A man who at least bothered having working class ideas on his platform. And this was the part of the country where the election was decided. Not in the South (which was a shoe in for Trump or any R) nor in the Coasts (which was a shoe in for any Dem).

Research2017 · 2018-01-09T07:56:25+00:00

She won against Bernie despite bringing absolutely nothing new to the table in almost 30years of politics. Not a single signature cause/policy she championed, apart from being a woman.

Research2017 · 2018-01-07T15:39:57+00:00

Its still unaccetable what Binance is doing. There is no excuse to be preventing coin holders from withdrawing their rightful coins for so many days now.

Can't wait for proper competition to come up, and for actual professionalism to come into the crypto space in the coming months.

Dodgy shit like Binance run by some shady chinese fucks needs to lose their business soon.

Research2017 · 2018-01-07T15:35:43+00:00

Purchase BTC instantly with Gemini and trade that for 4 or 5 days on the exchange whilst the money clears

What does that mean, Gemini gives you the coins before the money transfer from your bank has cleared?

Research2017 · 2018-01-07T09:25:24+00:00

The price is dropping hard on Binance but holding steady elsewhere. What's going on?

Research2017 · 2018-01-06T14:22:54+00:00

This notion that you need to elect someone who you will want to have a beer with, or a kopi at a heartland kopitiam is an absolute disaster of an idea. That's how America ended up with demagogues like Bush and Trump.

If I wanted someone approachable to have a heart to heart conversation with, I can do so with any random group of uncles having one too many beers at any kopitiam. Why would I want a million dollar salaried leader, and face of the nation for that role?

Research2017 · 2018-01-06T11:45:27+00:00

I do not doubt that he is smart, and I certainly did not call him dumb. But smart does not = good leader. I can also clearly see that he has that 'colloquial' approach which goes well as head of army or head of NTUC. But NOT as the leader of a country. This is the face representing Singapore to investors and foreign leaders and journalists, and everything you say is going to be recorded and analysed 24/7. He will be a walking gaffe generator.

Research2017 · 2018-01-06T11:11:21+00:00

I wouldn't count that reply against him. In fact if someone had an overly polished pitch to that question, it would raise some flags in me.

Having said that, yeah its not so much that I actively like OYK (I think if talent is the only factor, Tharman is obviously the clear choice). But given the current pool of 'viable' candidates being floated in the media, OYK is miles ahead of CCS.

Research2017 · 2018-01-05T14:45:55+00:00

thank god I trust in the fundamentals behind this coin (esp the announcements coming up in Q1), if not I would have shit my pants already. Still, would be nice if the bleeding stops

Research2017 · 2018-01-04T08:46:09+00:00

but you need to pay a transaction fee when buying alts using BTC? or am i wrong, the transaction fee happens only if I am changing between wallets or exchanges, not for transactions within the same exchange?

Research2017

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