Gold collapsing. Bitcoin UP.

sgbett

Active Member
Aug 25, 2015
216
786
UK
😳 Binance Coin out of nowhere, competing with Etherium. According to this Binance coin (BNB trading for $376 today) was an ICO that raised $15M at a unit price of $0.15, and the other 50% used for PR.

And the crazy thing they issued 200M tokens and every 3 months Binance buys back BNB with the intent to destroys 100 million Binance coins – 50% of the total supply, so only the promoters end up with the issued coins.

So they raise $15,000,000 in an ICO and now have a $37,600,000,000 financial liability. WTF kind of space is this?


Binance has a competing token Binance USD, and it seems Euro is the only fiat currency fueling this massive clime in price.
I suspect it gives you a ball park true value for Tethers

37,600,000,000usdt = $15,000,000
=> 1USDT = $0.0003

seems about right
 

cypherdoc

Well-Known Member
Aug 26, 2015
5,257
12,995
Or has Bcash turned into the dumpster fire the Core people said it would since the beginning?
well, we've never seen the dreaded 51% attack Core cucks fud'd about, now did we? "Bcash" at all time highs with the final story still to be told :)
 
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79b79aa8

Well-Known Member
Sep 22, 2015
1,031
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hey @xhiggy, not sure i catch your drift, just recording my own dwindling patience for announcements of announcements, discussion of cryptic moves that may or may not have been made, and promises of future delivery. it simply adds to a climate of deserved suspicion.
 
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xhiggy

Active Member
Mar 29, 2016
124
277
hey @xhiggy, not sure i catch your drift, just recording my own dwindling patience for announcements of announcements, discussion of cryptic moves that may or may not have been made, and promises of future delivery. it simply adds to a climate of deserved suspicion.
Ah yes, I was pretty unclear here, sorry about that.

I think what will happen on Wednesday, will essentially be people arguing about what happened on Wednesday :p
 

79b79aa8

Well-Known Member
Sep 22, 2015
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3,440
finex/tether slapped with a $18.5 million fine . . . all to be reverted within a morning's trading session. nevermind the >1 billion hole in their balance sheet -- it's ok so far as number go up.

but only so far.

regardless, i don't see them doing business in NY again. you know, that place where the banks are.
 
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AdrianX

Well-Known Member
Aug 28, 2015
2,097
5,797
bitco.in

LOL, That Protocol change to mitigate the swing mining and hashrate oscillation seems to be not working as designed.
I'm guessing those smart technocrats who decide when and how to change the BCH protocol made another mistake.

In other news BSV is looking more stable, probably because right now it's 25% more profitable to mine the BTC chain.
 

Zarathustra

Well-Known Member
Aug 28, 2015
1,439
3,797


Pseudo-anarchist and economically illiterate Erik Voorhees has never heard of banks that create money through credit and that the majority of credit is backed.
 
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lunar

Well-Known Member
Aug 28, 2015
1,001
4,290
I normally ignore this guy, too much noise.
But these two tweets :confused:

If he's correct BTC is over. I can't see how a system that has such an obvious flaw won't be gamed by someone.

Can anyone confirm if they think it's possible?