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Oracol Xor Platform made a big splash in Romanian News Outlets yesterday and today during the Romania Blockchain Summit . Get a 40% discount on XOR coin at https://t.co/kPGUOjk0mk . Bitcoin started at zero in 2009 and now is aprox $13.000 CAD.
Oracol Xor Platform made a big splash in Romanian News Outlets yesterday and today during the Romania Blockchain Summit . Get a 40% discount on XOR coin at icopay.oracolxor.com/buyxor/ . Bitcoin started at zero in 2009 and now is aprox $13.000 CAD.
It is proven that Bitcoin's 2017 price spike was an artificial manipulation linked to another coin, Tether. Tons of outlets are reporting this shameful, damaging story, which according the the crypto subs, is good for Bitcoin.
This is a complicated story, but there is a coin called Tether which is supposed to be a more "safe" way of exchanging cryptocurrencies because the company claims that each Tether coin is backed by their massive reserves of US dollars. It's been common knowledge for a long time that these reserves do not exist, and therefore Tether and its parent company, Bitifinex, are committing some serious fraud. After Tether was raided by the authorities a few months ago, anyone with two brain cells to rub together could see this meant Tether was a big old illegal scam. News outlets are now running a story about how the 2017 price spike that propelled Bitcoin into the mainstream was likely due to Tether fraud
The 66-page report states that Bitfinex might have used the virtual coin Tether, which it owns, to generate fake demand for bitcoin by buying up the virtual currency and keeping its price up while it sank at other exchanges. The paper found that the more Tether entered the market, the higher cryptocurrency prices would rise, “similar to the inflationary effect of printing additional money.” By using algorithms to analyze the millions of transactions listed on public ledgers, the researchers discovered that half of bitcoin’s price increase last year occurred hours after Tether was passed along to several other exchanges. Tether usually exchanged hands when bitcoin’s price was flagging. Although the report can’t confirm price manipulation, it does point to suspicious patterns. Exchanges that had support for Tether saw the prices of coins like ethereum and Zcash rise higher than on exchanges that did not support Tether. And the report found that this year, after Bitfinex cut the supply of Tether short, the pattern ended
So now we have academics writing hit pieces about Bitcoin? Let's get this straight... A professor and a graduate from the University of Texas, finance department, felt it necessary to write a detailed 66 page analysis of the role of Tether in the 2017 rise of Bitcoin. The paper is quite polished; it must have taken at least five or six months. Further, there's at least 5 "contributors" mentioned below the abstract. Where is the transparency regarding the motivations of Mr John Griffin and Amin Shams? Who financed this project? How is this any more than a glorified "academic" hit piece, arguably just as manipulative as the practices it condemns?
Should we make a paper with media manipulation to break btc support? So tether FUD is really back? Some stupid university made a paper about it and people believe it? Based on lots of assumptions without any evidence.. really? Maybe we should create a paper about media manipulation acting together with whales to break btc support?
source For my last link, I give you this post where a dude writes a wonderfully cringey screed that calls the Tether fraud "no big deal"
I think we need decentralized news outlets too. I stopped reading when they said a centralized coin that can be controlled and manipulated by a bank would be more secure than a blockchain based cryptocurrency like bitcoin with all the hashing power and a decade of POW behind it.
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