For SHA, please look for a BTC calculator and remember to deduct the daily maintenance fee see contract for further details. Bitfinex provides margin lending. See btc Expanded Rules wiki page for more details about this rule. Meaning it wouldn't cause a dip in bitcoin, it would cause a dip in tether AltPocket seems the pick of the bunch, but setting btc up now after a coingecko years of dogecoin is tedious, and setting up the bittrex api only seems to be worthwhile if you keep your coin on coingecko site would be good for day trading though. Remember dogecoin some of our products have a daily maintenance fee which must be deducted from the daily earnings.
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It doesn't matter if it works right now, lots of things work right now, bitconnect worked right now, it's the working later part that's the issue. Second generation multipools act like first generation pools, but automatically trade the various coins for Bitcoin. You can actually tell it's about to crash when newbies are so frantic to buy. We have been in the mining business for over 3 years now, which is unique in the cloud mining business. The most dangerous part of running an exchange is managing cashflow and always trying to keep enough cash on hand to avoid a bankrun type event when many clients suddenly sell and want to withdraw funds. Furthermore, residents of certain U.
My machine learning algorithms are predicting a price of USD for Bitcoin Coingecko, we coingecko accelerate this process from our end. This is a bait and switch that needs to be stopped. Meaning it wouldn't cause a dip dogecoin bitcoin, it would cause a dip btc tether By trading it for crypto assets of the equivalent USD. I use cold storage as in an offline flash drive or hard drive and paper and for a particular coin Btc have I use a dogecoin client that interfaces with the blockchain and it is made by the people who built the coin.
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Some may 'cash out' but most will just buy other cryptos, thus continuing to spread it out even more. But yes, on the extremely unlikely event that every single person who owns 1 usdt, tries to cash it all out all at once, then there would be an issue I'm sure. Same with any coin or stock, not gunna happen. And if the off chance it did, the price would just drop on usdt and people sell at loss.
So it wouldn't end up being 1: Mitsubishi financial 4th largest bank in world is launching an exchange later this year with a coin pegged to 1 yen. I think this one will cause a sell off of usdt because it will be backed by the 4th largest bank in the world with regular audits. It's "worth" more than usd to create financial arbitrage. You can't withdraw tether. How can you not see the scam. When people finally clue in to what's going on and tether pops Bitcoin is going to craaaaaaaash.
How does the tether get to the market? By trading it for crypto assets of the equivalent USD. If these are immediately liquidated to USD they'd have about what they claim give or take. They might lose a little as the market is crashing keep in mind they will have bots that can do near instantaneous transactions but they will also gain slightly as the market or coins they are taking in are rising, evening it out.
They don't have the usd sitting in their accounts after they move it to some tax haven in the Caribbean. For a trustless system, you're putting a lot of trust in some faceless nobodies. Well, there are two issues. One is the question about fiat backing and the other is the claim that they print more Tethers to pump the market or to support the price of Bitcoin.
I was addressing the second. This is a bait and switch that needs to be stopped. This is how I thought it worked from my reading. I'm a bit confused as to why people seem to freak out about it. It seems like the only cryptocurrency where market cap means anything, and I see it as an interesting indicator. Of course, there's plenty of room to question the organization that is tether, but the concept doesn't seem inherently flawed.
So they are printing US dollars. What would you do with a free USD printing press in this situation? Maybe you'd buy Bitcoin? You make it sound like 'buying bitcoin' is a one way transaction. The person who sells the Bitcoin is at the same time 'buying Tether', so there is a purchase and a sale of Bitcoin for each Tether issued, not just a purchase, and there is a purchase and a sale of Tether for each Tether issued as well. It is only possible to issue as many as there is demand for and the issue of the Tether does not gain the issuer a dollar, since that dollar has to be locked away.
Tether is printing essentially counterfeit US dollars and purchasing bitcoin. Doesn't matter who is on the other end of the transaction, this means counterfeit money is propping up the BTC price. I get why we don't want this to be true, but it's plain as day. That's not how it works though. The only thing that sets tether's supply is the money backed behind it.
It's the same thing with the opposite. What sets USD's value is the American economy. This is not the case with Tether. Its price is set up by the crypto market, not with USD. That's the problem with the coin.
A lot of people don't differentiate between Tether and USD. They think it's the same thing. It's the same thing with Bitcoin's price in Korean markets. The USD price equivalent is way inflated so people think that bitcoin's worth a lot but in reality it's because KRW is worth less than what is shown.
I've done my fair bit of research on Tether and I can say that less than 50m is actually backed. I am also almost sure that since the bullrun that started at 2k back in summer, most of the price surge is due to tether. I won't be surprised if Bitfinex pulls a Mt. How can less than 50 million be backed when they sell each tether for 1 dollar. They should have the same amount just in fiat now. You're really going to try and tell us that if some shit went down they would be able to sell their assets for 1.
If they actually were holding this in reserve they'd guarantee your USDT can be exchanged 1: They'd also have an reputable 3rd party audit the system.
Exactly, when there is volatility demand increases, also, number of people in crypto increases every day, that's why more and more tether is needed, let's be realistic here and consider all possibilities.
Its a risky game but i think this is not a big deal. By posting fud about it and making sure people don't use it to cash out more than the bank of tether has. Has there been any verifiable evidence of even a single person doing it?
Like a tutorial video, video evidence, a how to guide with a successful transaction. If insitutions are putting that much money in, it is. Theoretically they only print tether when someone invests. Or, Bitfinex are reinvesting their own profits, which are substantial and is possible. Plus Korean banks are about to open the floodgates. They could essentially be printing these, issuing them to exchanges, allow those exchanges to sell privately to large institutions, who send the money back to bitifinix.
Regulations are also coming. There will be something legit right behind tether to pick up the slack. In six months tether won't mean shit. Either shut the fuck up about tether, or get the fuck out of crypto.
You may feel more safe in the stock market. They've recently been ordered by the government to distance themselves from crypto-currencies. As long as they have assets backing it they can go as long as they want.
And that's assuming they actually have assets backing it. Since they've never passed a third party audit.. If BTC goes down - the backing is not existing. The number of coins only goes up - money in the making.
I do not get it. I'm with you, tether has never concerned me in the slightest. It is a fiat gateway that has very much contributed to the total market cap we are lucky enough to have today.
If tethers are not fully backed by usd, then you should be greatly concerned if tethers are responsible for the huge market cap that we have today. Who says a big exchange does not do the same? They can just credit accounts with Bitcoins as has happened in Mt. Tether is not special, in case at least there is some transparency. Because they receive a dollar worth of assets each time they release a Tether into the markets.
Tether has to be bought and that means there is a buyer for each one who has given the company assets precisely matching the value of the total Tether entering the market. The whole thing sustains itself. If there is no buyer for a Tether then that coin cannot enter the market. You know how much these exchanges make in transaction costs?
So if tether crashes, they will just buy your tether with those other coins. No, because the other Tether is bought with other coins, from other users, so it's just a swapping spot for users, correct? This thread made me see Tether as a real asset. It shows that crypto is undoubtedly the future, if in only such a short amount of time we're able to print our own dollar. How do I get in on that. How shall the payout work in case of a bear market in crypto when everybody flees into Tether?
Assuming there is no upsing directly after. I feel like I am missing something. I don't want to get into a good old witch hunt , they convert a good part of their fees into fiat this way.
There are other coins without conspiracy theories that are backed by gold or other things. Pegging is not hard to do. I don't trust them either, but the same way I don't trust any exchange to back my deposits with actual assets. But its market cap is only a few billion? How could it be a total slaughter?
Crypto market is very resilient. Most major exchanges have USDT as its only conversion to fiat money. Reserve banking in crypto is not at all the same as reserve banking in the real world nevermind the fundamentals of crypto was to move away from this shit in the first place.
Your Tether is backed by this: Gone with it is the artificial demand it's created for months. I thought people would avoid this like the plague after the 30m "hack" a few months ago that they used to buy up BTC. The fact that tether is still a thing makes me want vomit in my mouth. Tether would become worthless like any other token. Why is tether then a problem? So we would not be able to even redeem then IF they were even redeemable in the first place.
Americans constitute a large chunk of the trading space. Americans are also not issued Tether at all anymore. Furthermore, residents of certain U. Tether fluctuates, so it's clearly not anchored to its 1 USD value. How will this crash anything? How is there necessarily fake money circulating through the market? It's crypto-to-crypto money, and one of the two which are paired will fall if everyone is trying to move in a singular direction. My bottom line is: The people who stand to lose the most are the holders of tether if everyone tries to move out from tether at the same exact time.
Otherwise it's a token, not actual usd. It doesn't matter if there is or isn't money backing tether because they won't even allow you to cash out; therefore, it's a token bound by the same laws of crypto as all the others. If everyone moves their money to tether, then tether will necessarily rise Meaning it wouldn't cause a dip in bitcoin, it would cause a dip in tether Exponential growth of tether. Bullish as fuck on its cap for the next couple of weeks.
After that, the apocalypse. Unfortunately there is no way to take advantage of this as an investor because while the printer sells it for real money, it will never appreciate in value.
We only have downside. Therefore, you better hope it crashes within a few weeks at most. If they had a huge position like that and won, you better bet Kraken would fold. They wouldn't be able to settle. A lot of people use it as a safe haven store of value when selling their crypto. Nothing good will come of it going wrong in the short-medium term at least. They may be getting ready to exit scam soon. There is a nondisclosed fraud case being brought forth by the CFTC people who govern futures contracts in the U.
The case is sealed, so there's no way of knowing whether its finex, but that together with press release by the SEC and CFTC , it's possible that the U. This fits in with the fact that they had to stop issuing to U.
I kind of tried, but it's a bit diffcult to piece everything together. I hate to recommend bitfinexed, since he sometimes gets so overzealous he starts foaming at the mouth, but I think a quick way to do it is sift through all the things he posts to twitter, then dig into the sources a bit and be skeptical of what he says.
He posts all sorts of crap so sometimes it's junk but a lot of it is good. Take this with a grain of salt, "purely speculative" and "might" don't mean much. USDT is, on the face of it, an irrational asset to hold. There is zero upside, because if the price rises they print more to stabilise it.
The downside potential is considerable in that if it collapses it will likely collapse entirely. So it's an unequal risk distribution, as long as the probability of the downside is greater than zero. So why does such an apparently irrational asset exist and have investors? The value proposition, the reason people hold the asset, is partly to provide ease of access to the rest of the crypto market, and partly to avoid paying taxes on crypto money that you want to move into fiat temporarily.
There is also an irrational element of people simply having faith that USDT will not fall in any circumstances. But that doesn't really matter anyway. The best currency to hold to stabilise prices would be BTC. So if demand for usdt eventually goes down do they have some mechanism to destroy or unprint them to push the value up to a dollar? The best part or worst depending on how you look at it. Anything happens to Tether and Binance goes under.
Ok to all the people freaking out Even if they print off million tether, how does that get to the market? They sell it of course. So whatever crypto they sell it for will be worth roughly million if they were to liquidate it all at the time of transaction.
Now of course they probably don't do that, but I'm sure they also have a fairly advanced system in place to liquidate at an ideal time and possibly even make a profit off the crypto they're purchasing with this tether. Obviously this could work the other way around but all in all it probably evens out and assuming they're liquidating a good amount they probably have a large amount of USD and combining that with whatever crypto assets they're holding at the moment is probably worth the 1.
Isn't that everyone's biggest concern that it's backed by nothing? But by logic, it'd be backed by the money crypto of the people buying it. If this is being handled in a professional way then there's a good chance that they have plenty of reserves as they claim. These are a lot of assumptions to be making about an entity that refuses to be transparent. Maybe that would be all fine and good, but if they were doing things in a legal and non-reckless way it would be trivially easy to be transparent about it.
It would also instantly quash any credibility to people making these criticisms. As it stands, there is a big incentive for them to be manipulating the market and scamming people and they could easily prove that they aren't doing that.
But somehow they seem to have trouble coming up with proof that they are doing things by the books. I'm genuinely worried that tether will have a devastating effect on all cryptos when it becomes clear that there is no real backing. Nothing has been accounted for It boggles my mind. I genuinely hope the backing in USD is there. Formerly assigned new account flair. Luckily a decentralized alternative is here. Hopefully many exchanges will have trading pairs with Dai in the future. I don't know, but there actually are ERC tokens that are backed by stuff.
Digix is pegged to gold. They won't lose the value, because for every token there exists a gram of gold in storage. Who has audited these grams of gold? Will they take their tokens in exchange for actual physical gold mailed to me? DGX tokens can only be created if someone purchases and store gold at Digix's custodian. The biggest gold custodian service in Singapore. They published the last results which were basically a test because most of the gold will be purchased as the DGX token goes live and people buy it.
There are a lot of scams in crypto and Digix isn't one of them. They've been around the space for 2 years and are finally reaching mainnet launch in Q1 of They were one of the first ICOs on Ethereum.
Inorder to keep the value consistent, they will need to print from time to time. Yes but they also have to have actual USD to back it up. The company who owns them has a very long history of shady behavior.
They have lost ALL previous banking partners in the U. They currently don't disclose who they bank with or where they are based, so it is very difficult to pursue legal recourse against them. They also have shared ownership with Bitfinex, which was not disclosed until it was leaked through the Paradise Papers, which was a leak of offshore banking shell accounts and tax evasion. This indicates that they actively tried to hide the fact that they indeed were shared ownership. Tether could provide evidence of an audit tomorrow and all of this would be quashed.
They have promised to provide an audit for nearly a year now, and have not done so. This could be legit. I haven't touched Tether. But those who did during this latest dip: So, is it cheating or playing the game? I don't think they have the capital to back it up. I'm also certain for example Coinbase don't have enough capital to cash out all their users if they all did it now. I did what you hypothesized.
My motto is never hold onto Tether for more than a day. But I noticed the crash and sold midway through for Tether. I just call it playing the game as efficiently as possible at this point. You guys are all tilted because its a crypto not actually backed up by anything? You've got to be fucking kidding me. No, we are tilted because there is a crypto that is claiming it's backed by something that seems to be lying.
Furthermore that crypto is owned by the same people who operate one of the largest exchanges in crypto Bitfinex , so if something were to happen to tether, it would likely affect Bitfinex and possibly shut it down. If the exchange suddenly shuts down, we all lose a lot of money.
I dont see a solution. They can't just grab an extra billion bucks. If they let the price rise due to demand it loses its reserve appeal. If they drop it the market goes berserk anyway. What do you suggest? I suggest that governments should regulate exchanges and pursue legal action against people who are running fraudulent exchanges.
This doesn't mean that I support regulation of cryptocurrency, just that exchanges are held to the same standard that banks and other financial institutions are. They used to accomplish this by making tether "redeemable" for USD. However, they have had a lot of trouble with international banking regulations, and have lost all banking partners in financially regulated countries. This is a big red flag and indicates that something fishy is going on.
They then stopped redeeming tethers and insisted that people just trade them to other people 1: They then started printing tethers like crazy, and have provided no audits guaranteeing that each tether is actually backed by a USD.
It was also discovered that Tether and Bitfinex are owned by the same people. This was done in the Paradise Papers, an international banking leak where a lot of tax fraud was uncovered. This suggests that the relationship was intentionally covered up.
There's a clear motivation for the owners of bitfinex to print their own money to inflate crypto prices on the exchanges. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. CryptoCurrency comments other discussions 1. Log in or sign up in seconds. Requires comment karma and 1-month account age. If this feature doesn't work, please message the modmail. Limit of two posts per cryptocurrency on the front page. Check out the latest Weekly Skeptics Thread.
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This would mean a decrease in the mining difficulty, which will also have a positive impact increasing your payouts. Conversely, if difficulty raises, your payout would decrease. The payout generated by this contract depends on difficulty, and the luck we have in the pools we are mining in. It may happen that due to the lower payouts, the global interest in mining DASH diminishes.
It may happen that due to the lower payouts, the global interest in mining ETH diminishes. The DAG file is necessary for the algorithm to work, and it is installed in the same mining hardware also called GPU that provides the hashpower for Ether mining purposes.
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The concept is the same and only the exchange rates and difficulty website must be checked separately. For SHA, please look for a BTC calculator and remember to deduct the daily maintenance fee see contract for further details. Remember that these calculations are only an estimate and valid only for the day. Keep in mind that returns are not guaranteed and depend in large part on the luck we have in the pools we are mining in, on Dash vs USD exchange ratio, and on mining difficulty.
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We want to explain these specific delays in more detail in this blog post. We have recieved an inquiry with the same topic. Your inquiry is in queue and will be processed as soon as possible. Thank you for your patience and understanding. Customer Service Center What coins can I mine with each algorithm?
What is Genesis Mining? How does bitcoin mining work with Genesis Mining? Is mining bitcoins profitable? If so, then why are you not mining yourself? Where is your mining farm located? As of February , we provide the following coins per algorithm: We add new coins to this list from time to time. What is my expected return on investment? Which pools are you using for mining? You have to wait and hope. And if the merchant has a stock shortage; it is you who has to wait.
With Genesis Mining you pay and get your hashpower immediately online. Costs for additional equipment: This adds up significantly to the overall price for hashpower.
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Second generation multipools act like first generation pools, but automatically trade the various coins for Bitcoin. Third generation multipools are highly optimized second generation multipools, that mine the most profitable portfolio of altcoins instead of the most profitable coin. This requires deep knowledge about the mining process, switching costs and makes use of advanced portfolio theory also with respect to correlation patterns among different coins.
The following slide gives a good overview: Where can I learn more about you? How can I unlock my account? I forgot my 2fa code, what can I do? How can I change my email address? How can I set up a new wallet? How can I create a new account? How can I erase my account? Please contact our customer service team directly. This may happen for a number of reasons. Please select one of the options below. I have bought my contract in the past 48 hours. During this time there will be no activity in the graphs.
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