And yet it's brought up constantly by nearly everyone including the CTO.
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Replying to @udiWertheimer
Larry Cermak Retweeted Paolo Ardoino
Larry Cermak added,
3 replies 0 retweets 4 likes -
Replying to @lawmaster @udiWertheimer
I talk about velocity on chain. Tether does not make money on on-chain txs and I agree that you can't consider it = to trading volume. So
@lawmaster no, I don't consider it "volume", just "velocity". Happy to be suggested a better term.@alistairmilne which shall I use?1 reply 0 retweets 3 likes -
umm but the chart you use doesn't show on-chain velocity, it shows trading volume. what did i miss?
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Exactly my point. It's not on-chain velocity regardless of what term is used
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I think you have to consider all the trading pairs aggregated among the exchanges and in-fact I won't call it volume
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The chart above and the chart you link does show all trading pairs aggregated among the exchanges. The issue is that 85% of that volume is fake and probably more. So velocity is a nice term but doesn't make sense here.
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Ok but we should then agree that any volume listed anywhere should be taken for granted.
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Well not necessarily. You can make fairly accurate educated guesses on who fakes volume and who doesn't. And then estimate what % of the volume is real and what is fake. Volume is still a significant matric but needs to always be supplied with disclosures.
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My feeling is that who makes fake volumes in BTC/USDt makes fake volume on exchange for ETH/BTC. I might be wrong and not expert in tracking fake volumes across exchanges but that's my train of thoughts
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Replying to @paoloardoino @lawmaster and
Don't try to pull off a red herring dude. The point was that most tether volume in your own post comes from exchanges that fake volume. Don't point at other trading pairs as if that changes anything.
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