A gentleman buys millions of completely legitimate tethers, preparing to buy those sweet bitcoin dips later

this is whats happening

This tether nonsense started right after you cashies stopped trying to meme the flippening; just fuck off nobody wants your bags.

It really isnt though you dumb fuck
The tethers are issued because there is demand, people want them, mainly for margin positions.
Do you seriously think bitfinex prints out 30m tethers and just buys bitcoin for themselves? Youre a dumb cunt bro.

true facts

You speak the truth
Just lol at anyone who follows that twitter fag

For fucks sake I even considered BCH superior in the beginning but now it just pisses me off because of these retards forcing this conspiracy bullshit like bad losers because it didn't flip

For anyone who is skeptical of why BTC is actually rising - it's driven by ridiculous price arbitrages for cash in places like Zimbabwe and Venezuela, those dealers are getting ~13,500 USD per BTC, those guys keep having to restock and that's having an effect on worldwide exchange prices. One of the best ways to be "short" Venezuela or Zimbabwe, i.e. bet on their governments collapsing, is to be long BTC and short the official bank note; which shady forex traders can do through non-US brokers.

zerohedge.com/news/2017-11-19/bitcoin-soars-record-high-above-8000-after-mugabe-speech

Should be a lesson for anyone who is getting their news from Veeky Forums and /pol/ that these places are where people go to cry and brag, not where you get news from

>Guys, we're already making millions of dollars annualy on trading and withdrawal fees. What's next ?
>Oh, I've got an idea my dear friend Pajeet. Let's print shitloads of fraudulent dollars to pump up the bitcoin's price and then all go to prison for life when this shit is inevitably uncovered by SEC
>Sounds like a good idea, Rajesh!

finally, someone speaking sensically

But we already have satoshis vision, user

complete bullshit. u must be a huge brainlet to believe this shit.

Zimbabwes gdpi per capita is 600 USD. compare that to the US 50.000.

but ofc all these africans who cant even afford food are buying bitcoin. man u are fucking stupid

>thinking there aren't rich people in Zimbabwe or Venezuela
You stupid fucking nigger; you think the average Zimbabwean makes $600 per day? No; they make $5 and some other nigger is walking away with $595 per day and has King nigger telling him "I don't want to leave office"; rich nigger is freaked the fuck out and wants security so he goes to his local crack dealer and says "yo, hook me up with some of that bitcoin" and his crack dealer is like "aite".

Now that I dumbed it down to /pol/ levels of autism maybe you'll understand why this shit matters. Fucking Amerimutt.

>Zimbabwe
ethereum's marketcap is larger than their entire GDP. Also read this:
>According to Golix, it has processed over $1 million worth of transactions in the past 30 days, a sharp increase from its turnover of $100,000 for the entire year of 2016.
$1M usd is a daily volume of some shitcoin like chainlink, this shit can't affect the price anyhow.

The capital flow into btc comes mostly from USA and other developed countries, from people trying to make a buck. It's a speculative bubble, nothing else. Pure hype and reflexivity.

Is there any way to arbitrage this situation? I tried making an account on Golix (zerohedge mentioned it) but can only withdraw fiat to Zimbab bank account.

>16.15 million niggers * 600
>$9.69 billion/year
>Zimbabwean interest rate is 6 gorillion
>USD is easy for the government to track and hard to make international transfers with
>BTC
Next you'll tell me niggers are too stupid to use BTC.

>thinking BTC market cap has anything to do with purchases
There are millions of BTC that will never be available on the market, either because of stupid hodlers or because they're already used as currency in business transactions.

You need a Zimbabwean bank account and probably will want a forex broker that lets you trade zimbabwean dollars, or somebody in Zimbabwe you can work with.

biggest brainlet i have ever encountered. even in ur story the rich guy is a King nigger.

how many kings are there? not a lot. 99.999% Cant even afford food.

btcs price rises because of tether manipulation. thats it.

Holy shit you're even stupider than I thought; you said volume. Volume fucking means nothing in this markets do you know how many people trade BTCUSD with multiple trades a day? That's volume. The $1M USD at Golix is probably ALL capital influx into BTC, to say nothing of it's after effect on making BTC trend upwards, pushing more traders into leveraged long positions.

$595 USD is not a king and he's got savings from all those years that he doesn't want confiscated by Mugabe. Fuck off; you have zero legitimate evidence of tether fraud except your FOMO and disbelief that people could want BTC instead of bcash.

>According to Golix, it has processed over $1 million worth of transactions in the past 30 days, a sharp increase from its turnover of $100,000 for the entire year of 2016.
You can move the price approximately $5 with that much liquidity. It won't have much of an impact on the entire market. On the other hand there were 60 million tethers printed since Friday. That much liquidity combined with wash trading on Bitfinex will have significant impact on price.

See >wash trading on bitfinex
You know that might not be Bitfinex itself but a wealthy Chinese guy who's friend who knows anything about Hong Kong style stock trading (i.e. is a whale) offers him some return on investment in exchange for his capital

>it's gotta be a fucking fraud
The fraud is the fucking dollars in your wallet you think are worth something

$1 million will have a net effect of increasing price by $5 based on current liquidity. I'm basing it on GDAX so actual global effect will be less.

How are you calculating that, because it's wrong.

It's jumped to 40 now. Look at the order book and check how much you could move the price by taking $1 million worth of liquidity.

I'm venezuelan and believe me, there's plenty of whealthy people who's willing to buy BTC and ETH.

god damn i'd smash that bitch hard, got more?

>holy shit he's using the order book
I shouldn't even explain this and you probably won't get it anyway. The order book is just all the orders that are on the books from traders right now. You don't know that they aren't going to be canceled. You also don't know that those people aren't just setting stop losses to shorts or stop limits on their longs.

Even after that, the order book is BEFORE actual volume. Actual volume is the combined sum of all the trading activity that day - meaning if I buy 1 BTC in the morning and sell it in the evening, 2 BTC were exchanged.

After taking out orders that are never filled, stop/limit orders that are trade entrances/exits, and all the volume of trading, you finally arrive at net capital influx, which is the difference in value of all the dollars sold for bitcoin that day and the dollar value of those dollars that morning. That number is what fundamentally drives up the valuation of bitcoins in dollars.

Its not illegal though so they dont give a shit, itz easy moneyz

This. They are sitting on a gold mine and would risk it all for..what exactly?

>risk it
You mean like hoe the fedral reserve risked it by passing an anti-constitutional bill that is now the way usd is printed and works?
How many have gone to jail?
Jail is for poor people

>sensically

Nobody is talking about volume. Liquidity is what matters. On average you can clear $1 million dollars with a single market taker order and not move price more than $100. The order book displays currently available liquidity. Yes it changes constantly but there's a near constant average liquidity available. Based on current liquidity conditions, $1 million market taker order, and assuming the trade won't be closed it will net less than $100 price increase. It is insignificant capital.

You have no idea what you're talking about and you can't recognize people that do. I suggest reading babypips so you can understand something about exchange markets before you invest more than you can afford to lose.

Bitfinex also has a hidden order feature that allows orders to not show in the order book

You guys are alright, dont go to hodl school tomorrow and you will make it. You all have shit perception anyway when it comes to picking the right altcoins so why risk it?

I will shill you a nice discord group I just became part of
We pump on bittrex, +10k members, active channels on trading/rumors and admins who find a good coin to pump and shill.
Last week I made 30% on Bitbean in several trades under 15 minutes and 20% on a Bitbean pump.

Join us or stay pajeet faggots!

discord.gg/K2TBDXq