We covered our theory on the Tether news and concern is growing with the Tether USDt and market manipulation. Word today of a hack of $30 million USDt brings a bump to similar competing services. The largest benefactor of the hack so far (other than Tether) is Bitshares.
Referenced to the USD and traded on its own exchange, Bitshares work like USDt so a rehash of the mechanism is not important. What is important is the price increase of a token that is indexed to the USD. Bitshares promises a stable coin indexed to the USD giving piece of mind to the holders to trade for other crypto currencies. Price increases on an indexed coin are the opposite of that mantra. People are worried with the hack on Tether.
For its part Bitfinex came out with a statement today announcing a forthcoming statement.
Bitfinex is solvent and both fiat and crypto withdrawals are functioning as normal. We are seeing increasing FUD which we believe is a co-ordinated attack to create a market disrupting event 1/2
I guess it takes a while to say – We trust Tether. The wording is very delicate I guess. Those holders of Bitshares might want to take profits on the news.
Ardor (ARDR) pricebump on Airdrop news
Admittedly I am not familiar with this coin but it did see a 20% price bump today when it announced an airdrop of what it calls a ‘childchain’. The airdrop is a 1:0.5 ratio to holders of record December 25-28 with the mainnet going live 1 January. More research is needed to see if this is a possible investment opportunity. The new coin is called IGNIS.
XMR is rumored to be coming online with multisig wallet which is considered the last step in online anonymity. No official announcement so you might be wondering how I know. You might check the official Monero Forum but there has not been a post over there in a while. Twitter has nothing. Reddit has nothing. Sometimes we just need to keep our sources to ourselves. Needless to say this is important and you can bet though nefarious users of Monero are watching. Look for a piece later today or perhaps tomorrow depending on how busy I get which discusses this in more depth. The debut of multisig should lead to increase demand and therefore price of Monero.
NXT has a baby with Ardor
I figured out what a childchain is. If anyone needs a class please watch the below video. If you have kids, there is nothing funnier than asking kids where babies come from.
No idea if Ardor or NXT is the dad or mom but the childchain is born from these parents. Same ratio applies to NXT and the airdrop of the new coins. Seems to me if you are interested in the IGNIS coins then buy NXT as it is cheaper. NXT is up 60% on the news. Now I need to go look at this project in depth. One baby coin and airdrop at the same ratio to two coins of different values equals one coin of the same value. I should have paid more attention in math.
Disclosure – We are getting a viewership now that I guess thought would be appropriate for a disclosure. I am not a trader. I still have my first Litecoins I mined back in 2013. If it ever becomes life changing money then I might sell but the taxes are too confusing to bother with at the moment. At todays value it is worth somewhere above $1 and less than $1 billion. Closer to $1 though. I also mine Monero and have never sold anything I have mined. Same value applies from above. If I purchase any coins I will be sure to update. I cannot speak for other authors on our site.