Tether Critical Announcement

Re:Tether Critical Announcement by jack_pp on Tuesday November 21, 2017 @02:04AM (#15746225)

"market cap" is a very bad representation of the overall value which is impossible to actually estimate. try selling 600 million worth of btc and see how that cap changes.

[ Parent | on HN ]

Re:Tether Critical Announcement by cloakandswagger on Tuesday November 21, 2017 @02:15AM (#15746259)

Dump large amounts of ANY asset and it will crash. It's only crypto that gets accused of having a "fake" market cap though.

[ Parent | on HN ]

Re:Tether Critical Announcement by standupstandup on Tuesday November 21, 2017 @04:56AM (#15746865)

It's only crypto that uses the term "market cap" to mean "outstanding crypto-tokens * price". That isn't what the term means in conventional finance. It's normally applied to shares.

[ Parent | on HN ]

Re:Tether Critical Announcement by mrb on Tuesday November 21, 2017 @03:11AM (#15746478)

5 BILLION dollars worth of bitcoins are sold every day. The trading volume is higher and the orderbooks are deeper than you think...

[ Parent | on HN ]

Re:Tether Critical Announcement by ActsJuvenile on Tuesday November 21, 2017 @04:16AM (#15746740)

Google "Wash Trading"

[ Parent | on HN ]

Re:Tether Critical Announcement by mrb on Tuesday November 21, 2017 @04:28AM (#15746772)

Doesn't work in crypto markets. Taker fees are typically > 0.20%, with the notable exception of BitMex.

[ Parent | on HN ]

Re:Tether Critical Announcement by joosters on Tuesday November 21, 2017 @05:59AM (#15747087)

There is plenty of evidence of wash trading occurring on Bitfinex and other exchanges - there are also many accusations that the exchanges themselves wash trade, to pump up their own volumes. They don't need to pay their own fees!

[ Parent | on HN ]

Re:Tether Critical Announcement by mrb on Tuesday November 21, 2017 @01:44PM (#15750425)

Taker fees are 0.1-0.2% on Bitfinex. Wash trading would be too expensive.

Where is the evidence the exchange itself is doing it?

[ Parent | on HN ]

Re:Tether Critical Announcement by 55555 on Tuesday November 21, 2017 @04:59AM (#15746880)

Those who are downvoting the parent, please explain why? He is correct. Is the assumption here that the exchanges themselves are wash trading and not charging themselves fees? Seems possible. But otherwise wash trading is very expensive due to the maker/taker fees.

[ Parent | on HN ]

Re:Tether Critical Announcement by ActsJuvenile on Tuesday November 21, 2017 @09:17PM (#15753671)

Taker fees are significantly discounted for higher volume traders, because they bring smaller traders to an exchange. I know two mid-sized whales who have almost 0% rate as long as they trade certain number of BTC a month.

[ Parent | on HN ]

Re:Tether Critical Announcement by reefoctopus on Tuesday November 21, 2017 @06:24AM (#15747163)

Korean exchanges are 0 fee.

[ Parent | on HN ]

Re:Tether Critical Announcement by mrb on Tuesday November 21, 2017 @09:22PM (#15753700)

Koreans account only for ~7% of the 5 billion USD/day.

[ Parent | on HN ]

Re:Tether Critical Announcement by amarkov on Tuesday November 21, 2017 @04:58AM (#15746875)

Where are you getting this number from?

[ Parent | on HN ]

Re:Tether Critical Announcement by mrb on Tuesday November 21, 2017 @05:29AM (#15746989)

24h trading volume: https://coinmarketcap.com/currencies/bitcoin/#markets

[ Parent | on HN ]

Re:Tether Critical Announcement by amarkov on Tuesday November 21, 2017 @06:04AM (#15747107)

This includes a lot of crypto-crypto volume. Just in the top ten, there's $168m Bitcoin Gold, $145m of Bitcoin Cash, $95m of something called "PowerLedger" that I'm hearing of now for the first time, and $84m of Neo.

Is this real trading activity, or is it people discovering that there's no feasible way to trade USD directly for the meme coin du jour?

[ Parent | on HN ]