Tether has a huge influence on the price of bitcoin.
No-one knows, it's all very clandestine - I don't know whether it was by well meaning people or if it was to take advantage of genuine public outrage during the GFC.
I don't really mind what fundies are buying or what Ken Griffin buys or what Blackrock buys or what 50 lawyers in a room think of Quindell or what S&P thinks of the banks.
I know oil, we use oil lots and lots of oil a day - I see people driving cars and flying in planes. To get more oil the world needs my RIGs and the supply is limited so they'll be paying through the nose for them.
Transocean recently sent an idle harsh environment drillship to Australia where it will be getting a $485,000 day rate for a year including mobilisation. Soon they will be bringing drillships out of coldstack with the operators paying for mobilisation.
There will be a lot of squealing if oil goes above $150 a barrel, if you stop drilling for it for 8 years though what do you expect will happen? Can't just turn on the tap, better start inking some long term contracts and even then it'll take 3 or 4 years before you get production.
Less moving parts for me than bitcoin, I don't say that it's not good for other people I just don't know. I can't play it either way because I think Tether makes it a manipulated market so that you can't short it and I am not particularly interested as a long because I just don't get it and that's OK with me.
