Bitcoin Archive

The Collapse of Tether (USDT)

Tether, created to simplify cryptocurrency trading and conversions, has a 1:1 ratio of the asset it is “tethered” to. In the case of the US Dollar, one tether is worth approximately $1.00, with minuscule daily fluctuations. This is how is china leading the rise as the strange nature of the coin goes against simple economic supply and demand. Unlike Bitcoin, Ethereum, or other limited-supply coins, Tether has no production cap and an unlimited supply but flat demand, keeping the price at $1.00.

If you have a background in economics, this is a huge red flag. The price control of Tether isn’t sustainable. Furthermore, for each Tether in circulation, there must be one dollar held in reserve backing it.

Holders, skeptics, and large firms have continued to fire backlash at Tether. They fail to release audit records proving that they hold the equivalent amount of USD in reserve as USDT in circulation. The company has refused to be transparent with that information. In January alone, 850 million Tether were produced, however, no records indicate that the dollars held in reserve increased by $850 million. Some people believe these accusations to be unfounded.

But if they have nothing to hide, why hide it?

If this is found to be the case, it could send cryptocurrencies to crumbling price levels. Tether has become an integral element in purchasing coins, removing ambiguity and the need to convert Bitcoin prices to the dollar. If Tether has been just arbitrarily produced, Bitcoin and other coins would essentially have been bought with thin air. Skeptics believe that Tether production has been inversely linked to drops in Bitcoin prices, using Tether to purchase Bitcoin at low prices and sending the prices back up. What would happen next?

If faith was lost in Tether, people would demand their dollars back, supposedly held in reserve. However, there wouldn’t be enough. The possible effects could lead to a complete reversal in the more positive recent public perception of cryptocurrencies. It would further link coins to fraud and illegal activity. Exchanges could topple overnight with billions of dollars vanishing.

Wells Fargo and Bank of Taiwan have already removed support for Tether transactions. Bitfinex, the sister company of Tether, may even completely shut down, taking millions of coins with them. This news comes at a troubling time. If Tether is found to be guilty of fraud, holders of Tether would rapidly dispose of USDT for other coins, temporarily sending coins to new highs, before an inevitable crash.

This is a wake-up call to investors. We must all do our due diligence and be informed investors when investing any amount of money in any asset. Fraud and greedy motivation can dominate this space and it is your own responsibility to protect yourself.

My Paying Crypto Ads

This is gonna be a simple review about My Paying Crypto Ads. If you know My Paying Ads the revshare that is already covered in this blog which is started by Uday Nara then you should know that My Paying Crypto Ads is the Crypto version of it.

Alright so, Cryptocurrency is becoming bigger and bigger every day with bitcoin as everyone out there knows how to trade bitcoin, while being the father of all cryptocurrencies, people are finding ways to use and grow their cryptocurrency. So Uday Nara has come up with a way to grow bitcoins and other cryptocurrencies through a revenue-sharing business just like My Paying Ads accept this one uses cryptocurrency instead of Dollars.

So how does My Paying Crypto Ads, work?

In My Paying Crypto Ads, there are 3 ways to earn bitcoin, just like I explained on the revshare page of this blog.

The first method to earn bitcoins is through Cash Links, Cash links are simply the ads that are bought by advertisers, which you have to click on them so that you can earn something, in case you like something you might be interested in participating in then you might join one of the. But if you are just clicking to earn then you receive bitcoins, those bitcoins are added to your Earnings Balance.

The second method to earn is through their referral program which gives you a 6% referral commission for AdPacks and a 10% referral commission for other sales such as login ads, text ads, banner ads, and more every time your referrals buy ad-packs. What’s good about this referral commission is that it is withdraw-able.

The third and last method is by buying AdPacks and surfing your daily ads. Adpacks are actually the main source of growing your bitcoins in My Paying Crypto Ads.

There are 4 types of AdPack Plans you can buy, here they are:

AdPack Plan 1: 0.010000BTC, Expires At 120%, 5000 Rotating Banner Ad Credits, 100 AdPacks Allowed

AdPack Plan 1: 0.030000BTC, Expires At 120%, 10000 Rotating Banner Ad Credits, 100 AdPacks Allowed

AdPack Plan 1: 0.050000BTC, Expires At 120%, 25000 Rotating Banner Ad Credits, 100 AdPacks Allowed

AdPack Plan 1: 0.010000BTC, Expires At 120%, 20 Banner Credits,50 000 Rotating Banner Ad Credits, 100 AdPacks Allowed

There there is 3 membership in My Paying Crypto Ads that you can buy.

Membership Notes:

The number of active adpacks that you can have depends on your active membership. For example,

As a free member, you can purchase only in Ad-Pack Plan 1 and can have active adpacks up to 100.

Explorer membership (costing 0.02 BTC/month), can purchase in Ad-Pack Plan 1 and Ad-Pack Plan 2, and can have active adpacks of up to 100.

Professional membership (costing 0.05 BTC/month), can purchase in Ad-Pack Plan 1, Ad-Pack Plan 2, and Ad-Pack Plan 3 and can have active adpacks of up to 100.

Elite membership (costing 0.10 BTC/month), can purchase in any of the adpack plan(s), and can have active adpacks up to 1000.

Is Cryptocurrency a Solid Investment?

The long term viability of cryptocurrencies such as Bitcoin will depend on many factors, and so does its perceived merit as a type of investment. As with any investment, the future is never clear, but if cryptocurrencies can overcome some of the major obstacles facing them today, we may see that the wild volatility that has plagued them in the past due to speculation will ease up and a general upward trend will emerge.

Cryptocurrency was little more than a purely academic concept around 2008, when a forward-thinking tech entrepreneur was in the process of developing the Bitcoin under the pen name Satoshi Nakamoto. In 2009, the first Bitcoin was released without much pomp and circumstance from the mainstream media. It was barely a blip on most people’s radar; to this day, there are many people who have never heard of such a thing as Bitcoin.

As it gained popularity and monetary value, competing cryptocurrencies were released in the years following, such as LiteCoin (2011) and Ripple (2012). But Bitcoin really caught the attention of Wall Street and forex traders in 2013, when the value of the Bitcoin jumped from around $140 USD to $230 in just 3 days (April 5-8, 2013). That bubble was short-lived, however, crashing down to just over $80 in less than a week (April 14, 2013). This sort of volatility has made many investors question the value of cryptocurrencies as a form of investment, being that they are speculative in nature (for the time being, at least) and not back by any material assets.

Still, anyone who held on to their Bitcoins through the end of that year had a pleasant surprise when the value shot up once again, peaking at a little over $1230 on December 4, 2013. But like before, the bubble quickly burst, eventually hitting a low point at around $260 on February 16, 2014, bouncing back well for the rest of the year and then plummeting to $164 on January 4 of this year. Since then, the Bitcoin has recovered quite well and while it is still prone to volatility, it seems to have calmed down slightly. From August 24 to this writing, the value has increased fairly steadily from $212 to its current $307.

The value of cryptocurrency is not intrinsic; rather, it depends entirely on people’s willingness to use it and how much they are willing to pay for it. This means that making average people comfortable with something as technologically complex as cryptocurrency is a hurdle that needs to be jumped if we want crytpocurrency investments to pay off. More merchants are accepting Bitcoin, for example, every day, but they are still few and far between. Becoming more widely accepted may reduce the volatility of cryptocurrency somewhat as its value becomes more tied to supply and demand than speculation.

There is also the question of how increasing attempts by world governments to regulate cryptocurrency will affect their popularity, particularly among their main demographics. how to make money with bitcoin is the most asked question from the customers when it comes to usage of cryptocurrencies. Traders make use of these bitcoins to carry out the selling and purchasing of the product. They can make more bitcoins for free by making purchase from the existing one.