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RE: Bitfinex, the daddy of Tether, green lights another $300 million out of thin air... where will it all go?

in #cryptocurrency7 years ago

Ha ha, true, and sorry if I'm all negative lately Lucy, I know you are trying to stay level headed, but if it makes you feel any better, I am dollar cost averaging every week into Steem because I actually believe in it, so don't think I'm all negative Nancy like.

I just don't see the point of Bitcoin, because to me it is useless. I'd rather have Monero for currency truth be told, and I think Bitcoin is just a speculative asset without a purpose.

I will try to write more positive pieces in the future, I promise, but the bear market is still chugging along, so I have to report on all the ways people could be burnt again.

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Not at all! I get you completely. I now invest in an index so I get a bit of everything (I do hold bitcoin as well but it is just part of the index) and if anything goes up, well hurrah! ;)

Ah, sweet, did you create your own index?

Yes, we created a tool to calculate the index and place the trades. We've been testing it for some time now and out of all different approaches, this one is the one that is working the best! :)

You going to create a post about all this here on Steemit, or is it all still a secret?

Yes, I will certainly make a post about it and also make the tool available in time. No secrets here :)

Well, you know... we all have our secrets. 😉

That sounds very interesting Lucy. Maybe you can share some of the lessons and also your approach.
As for the Tether story, I’m not convinced yet. There is no increase in Tether market cap. Why?

Hmm, that's strange?

You mean after they printed the $300 million, the market cap hasn't reflected it yet?

I have no idea, except the last time they did it it showed clearly.
I’ll withhold judgment until it can be confirmed

Judge away my friend... I got your back! 😉

Hey @appone certainly! Will definitely share more and make the tool available for others to use as well :)

I will be following along as well. That sounds like it could be super useful down the road.

I am tempted to just throw everything at Steem till I get that slider bar but know that would be kind of stupid when the bar will come on its own given time. I hope you are right @tolkatore could be fun to jump on and off that roller coaster.