/biz/ - Business & Finance

>>11445294

Some salty fuck who got liquidated once and now thinks there is a conspiracy against him due to Dunning-Kruger effect

>>11445312
so hes not right about how tether is a scam?

It's just Tone Vays alter ego.
>Both hate bitfinex
>Both call tether scams
>Both autisticly negative
>Vays creates alibys like he won't have internet for certain days

>>11445349
Yes, that's the million dollarydoo question, we know he's a salty fuck, however: is he right?

>>11445385
>Both called the said the top was in last year before June

>>11445349
There are fishy shits all over the place but I doubt bitfinex is solvent. Even if the "company" is people behind it wouldn't just let it shit all over the place,at least not yet. But I expect we'll have some price supression during next bullrun, precisely because bitfinex will try to balance their ledger.

>>11445294
why is every german such a fucking idiot

>>11445294
Is Tether a scam? Yes.
Will it go down and ruin crypto? No.
It's way too big at this point and every major exchange such as Binance/bittrex that supports tether will back it up or they'll end up going bankrupt as well since they all hold hundreds of millions of tether.

>>11445294
He's autistic but he's also correct, bitfinex/tether is dodgy as fuck, especially their recent moves

>>11445294
Bitfinex'd is a fucking lunatic. Think rationally for a second. Journalism is one thing, but what the heck is he so mad about?

>>11445452
yep thats the big question. binance and bittrex and other exchanges which use Tether will going bankrupt but does it matter? the guys behind this exchanges made a ton of money if the company is going bankrupt they have enough money to just enjoy the rest of the life without being founder/ceo of the company.

>>11445582
Why would they settle for what they have now, when they can be the leader of crypto when it's worth 100x more than it's currently worth? Greed is a strong thing, and they'll never let tether crash crypto until it's worth a stupid amount.

>>11445600
so we have to find that sweet spot where "they" are thinking to get out and go out before them.

This is still dodgy as fuck, and bitfinex supporters still need to explain how this is acceptable

>>11445614

I think that moment was pretty clear Sunday/Monday. Smart money has been exiting tether all week

>>11445632
hm

he shorted at 1k and is still at a loss
just laugh at the pathetic red headed kike

>>11445632
They are working with banks that dont know they are bitfinex, using shell company names. Its the same shit with pokerstars when they werent allowed to operate in the US but before black friday.

>bitfinex
lifelong scammers who pulled off their biggest con. could actually be solvent from the sher manipulation, but more likely to have pocketed the change
>bitfinexed
reddit autist mixing accurate sleuth work, leaps to conclusion and nonsensical pro-regulation ramblings
>anti-bitfinexed
90-110iq late adopters who bought btc above $3k. essentially the crypto version of mortgage house investors in 2007, yelling at the messenger

bitfinex is definitely a scam this time guys! get out while you still can!

(please let it all crash so i can buy it under 1k again ;_;)

>>11445294
I don't think it's one mental loser anymore and I think they're working for someone. Maybe a competing stablecoin or linked to preston byrne.

everyone who doesnt recognize hes telling the truth is a fucking idiot

the redpill is that even though hes right about everything, it doesnt matter, because the whales will obv. keep the scam running

see: our entire stock market and monetary policy

>>11445385
>>11445402
Tone interviewed him last year https://www.youtube.com/watch?v=TerIjELO7IY

>tfw all this tether fud keeps making me huge stacks

>>11447017
this

tether is basically a ponzi scheme

Can someone explain what is the correlation? Why tether going to zero will plummet the whole market? Even if it a scam, people who have tether will lose all their money, how is that connected on the BTC/crypto price? I understand how printed tethers can pump the price, but when tether lose value why will market collapse? What we saw last few days was the opposite effect - tether lost value, market go up. South Korea, Japan for example never use tethers and they have a lot of fiat money (KRW,JPY) invested in crypto.

>>11447161
I like to add that i don't believe in tether. If all were right in their books they had to show it by now. That silence is scary.

>>11447161
Bitfinex and any other tether exchange will go bankrupt. Trading volume will fall dramatically. Everyone on normal exchanges will lose confidence and dump whatever they have. The lack of buying liquidity on those exchanges will accelerate the price fall. No more phat juicy bid walls to absorb the selling.

The price spiked last few days because people were de-risking and getting their money out of Bitfinex/Tether. The only way to do that is to buy BTC/Alts and send it to a non-tether exchange.

>>11445294
paid banker shill

Banks only keep like 20% of the money you deposited there. The rest is given out as credits again. That actually makes banks the main creators of fiat money. It's not the central bank if you thought that.

Now these Tether people loudly exclaim that every Tether is backed by one dollar. I doubt that they are more careful with their deposits than traditional banks. I think they reinvest it and move the money around and in the worst case lost a lot of money by trying to manipulate the Crypto market.

>>11447340
Why Binance for example go bankrupt if tether collapse? Its just a coin they listed that will go to zero. Unless Binance have large amount of their capital in USDT which is highly unlikely. Tether company is guaranteeing that 1 tether = 1 USD, so liability is theirs. If people trust Tether company for that statement that is their problem, not Binance.

>le too big to fail maymay
you kids will learn

Any estimates on when the house of cards will come crashing down?

Tether FUD already cost me tens of thousands. Never again.

>>11445392
He is probably right but it is more of a coincidence. Even if they were solvent he would be shouting the same things.

>>11447499
These exchanges rely on Tether to operate. Without it, they have no fiat onramp or way to trade a stable currency like USD. Binance would end up only having crypto to crypto pairs like BTC/ETH, BTC/LTC, etc which is pretty useless, especially if crypto across the board is crashing.

The reason they have to use USDT is because having normal fiat USD means abiding by strict US laws, regulations, and banking. Thats why Tether was created. So unregulated, offshore, shady exchanges can offer stable USD trading without dealing with all that.

Of course, they can always resort to using a fiat other than USD, like from some shithole country with less regulations, but then they'll lose most of their customers.

>>11447793
>These exchanges rely on Tether to operate. Without it, they have no fiat onramp or way to trade a stable currency like USD
Shhhhh

Don't let the newfags know this I'm long on regulated exchanges next year

>>11446579
very acurate.

He blocked me so that's something

>>11445516
Imagine being an early BTC adopter and selling way to early and then shorting and getting liquidated.

>>11447867
anon...is this a regulated exchange? pls halp.

>>11448659

>>11445312
[citation needed]

>>11449476
>>11448659

>>11445312
wtf is with anons bringing up dunning-kruger so much lately

>>11448659
>has current bitfinexed logo
>convo is allegedly from when bitcoin was under 2k

gtfo of here with these fake screenshots lmao

>>11449515
>Someone uses an uncommon term or definition
>Retards google it
>Retards now want to impress everyone
>Retards over/missuse the tern
We dunning-kruger now

>>11447499
binance has a huge amount of thei capital in Tether...just saying

>>11446579
This is accurate AF

>>11448659
>take USDT market cap
>double it because "muh manipulation on bitfinex not accounted for"
>subtract entire amount from BTC market cap

-3.6%

Remind me why Tether is such a big problem?

>>11449974
Tether dying will ruin trust in crypto retard

>>11450024
Nobody trust crypto already.

>>11445294
He is right, but mandatory kyc on exchanges is a scam as well.
And @soleil_dusoir9 is better.

>>11445312
hello whalepool

>>11446579
This, this guy nailed it.

>>11445349
Most likely Tether is a scam, Bitfinex is insolvent, but the other exchanges won't go down. The binance chink advertises other stable coins so I doubt he cares if people sell their Tether.

>>11447340
>Bitfinex and any other tether exchange will go bankrupt
Why should they? It's not Binance that promises to redeem 1 Tether for 1 USD. If Tether goes to 0 tomorrow, it's not Binance' problem.

Some people will lose their money, about 10% of the Tether market cap will float back into Bitcoin, that's it.

Let me add that all tether had to do was hire one big name auditor (peanuts for a company making alledged millions in fees) to go over the books and issue a statement that all's good.
They haven't done so in more than 1.5 years... think about that. They are scammers. However, it will only come to light after a long bearish period (and they won't be the only exchange doing shady shit).

>>11447793
FIAT ramps are not as important as people claim.

Bitfinexed is a salty fucker that sold at 1.8k because "it's not possible it could go higher, it's a SCAM it's a PONZI" and never bought again. He has planted an idea in his mind and he refuses to admit to himself that he's wrong.

>>11449974
because that's not how marketcaps work, retard.
If I buy 1 billion $ worth of bitcoin, the marketcap doesn't increase by 1 billion. It has been shown that for every dollar that comes in the market, the marketcap increases on average by 25 dollars. Same goes in the other way. If tether goes to shit, the marketcap of crypto will crash by at least 20 times the marketcap of tether.

>>11445294
careful following this guy.
he has been fudding for over a year. i half fell for his fud lasy year and didnt make nearly as much as i should have in the great bull run.

>>11450400
Do you have a source for this (been looking for that)

>>11450421
https://medium.com/crypto-punks/tether-misconceptions-2984430e7e48

skip to the net inflow if you're not interested in the other stuff, but you should be cause that's how the market works and there are too many brainlets around here that don't understand this.

>>11450400
so we're fucked if tether pops. its like bitconnect: as long the price is stable or going up the scam works. as soon the price tanks to a certain point the scam implodes. i just hope for another bullrun before i jump of the boat.

>>11450546
>fucked
Price will drop by 20-25% if Tether dies. Hardly fucked.

>>11450552
it will drop for 25% and that creates panic sellers = price will drop 50% or more.

>>11445294
I hope so I could buy more cheap linkies

>>11450372
>Big auditor
>Has to reveal BS and evidence everything
>Bank name is getting public
>Land of freedom aka burgerland forces the bank to freeze everything

Fucking retarded.

>>11446529
This most likely

>>11445294
He has legitimate concerns but he's like the boy who cried wolf with all the FUD and bad predictions.

>>11450750
So they're counterfeiting usd, then?
>>11450486
Thanks.

>>11445294
Stop shilling your faggot twitter account.

>>11449768
So Binance CEO tells people that there is always concern with tether, but will put most of his capital in it?

inb4 trust the chink

He panic sold like a pussy too early, then he went short out of rage. He's absolutely insane now. I predict he will an hero soon. Fucker deserved that

This image sums up about 90% of the posters ITT. Crypto market is so easy when you realize nigh everyone is a brainlet.

You guys know bitfinex'd is a woman right?

>>11453050
I heard that somehwre and it actually makes sense, only a mental bitch would go as far as bitfinexed has gone over the year. Absolute psycho. If I listened to that retard everytime he/she screamed
>HURRR DURRR WITHDRAW EVERYTHING FROM XYZ EXCHANGE TETHER COLLAPSING SOON!!11
I would be broke and paranoid cuck sitting on the sidelines like he/she has.

How can you bitch for over a year non stop the same shit
>hurr durr manipulation, prices too high durr
lmao, like fuck off, you already sold so move on and fuck off, what;s your problem

>>11453050
>>11453300
>"I'm 100% sure tether is manipulating the price upwards"
>"I'm going to sit on the sidelines and cry, instead of benefiting from the upwards manipulation"
It does seem like female logic to me

>>11450342
>And @soleil_dusoir9 is better.
Wow, who is this?

>>11453476
CZ's boss.