/biz/ - Business & Finance

This is even worse than I figured. It's fucking over.

Thank you OP

Looks like winter has just begun just like game of thrones hehe xd
I'm passed giving any shits. Fucking numb to this bullshit by now.

>>13438996
Holy fucking santa clause shit. It's actually real.
Getting my popcorn for this one.

Explain this to me like the brainlet I am please.

>mtgox 2.0
brace for impact

I don't even care anymore, I'm so fucking done with these tether/bitcorn shenanigans. Save me from this hell chainlink

>>13439069
>BitFinex couldn't handle withdrawals
>Uses Tether funds to mitigate collapse.
>BitFinex hack wallet moves 550BTC just hours before NY AG sues.
Basically Bitfinex is about to be Mt. Gox 2.0 and is probably insolvent.

>>13439069
kys AKA kill yourself

>>13439104
what is the BitFinex hack wallet? someone hacked them? how did we not see this coming then?

Fuck. This just made me bearish

>>13439124
Back in 2016 BitFinex was "Hacked" and had lots of BTC stolen. Unironically funds just moved in those wallets right before AG sues.

Basically means it was an inside job. Shit hitting the fan.

>>13439145
we're heading to 1k aren't we

>>13439124
The bitfinex wallet hack I referred to happened 3 years ago in 2016. Someone tracking the wallet notice that the bitcoin in those wallets laid untouched until earlier today.


This (As we know it now) isn't related to the tether news at all, but it his very very weird that the bitcoin in those wallets were moved before the we learned about the tether news.

>>13439164
2k

>>13438996
horrry shit. this is about to collapse

I knew it would happen eventually. If this turns out to be true, it's just one more reason why you shouldn't tie your funds up in worthless pseudo-USD and other scams. When will you crypto brainlets even learn?

BTC private keys or the highway. BTC maximalism is not a meme.

Holy shit we really are going to 1k aren't we?

>>13439145
>>13439174
ok, thanks guys for clearing that up. So we are predicting the hacked bitcoins will be dumped on the market soonish crashing the price to 1k?

>>13438996
i was overall bullish until now (despite the overbought conditions and divergence on the shorter time frames). the market hasnt fully priced in the gravity of the situation yet, but believe me when i tell you this shit is going to crash hard. ive been in crypto since 2013 (bought during the run-up on the first bubble) i sold everything just now.

>>13438996
DELETE THIS.

getting tired of losing everything at every fart from anything crypto related

>>13439164
>>13439176
Yes, the #30 exchange by volume fucking up will cause bitcoin to dump to 1k. This literally just proves once again that fiat is garbage, yet it will cause bitcoin to go to 1k.
Yes brainlets, that makes sense.

>>13439199
They were dumped earlier on Kraken.

>>13439031
>>13439104

Nothing like mt. gox. Bitfinix is just one of dozens of exchanges. Doesn't even warrant a 0.01% price drop. Actually it makes bitcoin more scarce and harder to tether, so if anything its bullish from a fundamental standpoint. Of course, this is a coordinated FUD campaign and idiots are panicking. Reminds me of the china banned bitcoin FUD from 17.

>>13438996
>Bitfnex is mtgox 2.0
Fuck yes. Bitfinex and Tether are what stopped me from getting back into crypto all the times I felt tempted to over the course of the last couple years. The latest rally was starting to make me feel like a brainlet for missing out on the $25 LTC, $80 ETH, and $3.5k BTC. Maybe in a few months I'll be able to go long again.

this is really bad news for crypto in general... marketcap total will drop below 100m

Reminder that Bitfinex is ranked 33rd in exchange volume

>>13439199
Honestly, the dump is irreverent in my opinion.
It just confirms that one of the largest exchanges doesn't have the funds to cover any of the assets on the platform and that a bank run would likely destroy Bitfinex and no one would be able to withdrawal as there is nothing to get out of the exchange. Also confirms that it was a self orchestrated "inside job" back in 2016.

>>13439199
>hacked
I think you mean """""hacked""""". It was an inside job just like mt gox.

>>13439212
you are not understanding the bigger problem here, which is TETHER. do you have any idea what 2.8 BILLION DOLLARS evaporating from crypto would do? (and im not talking about 2.8b just in market cap) all the exchanges that do heavy trading (binance, huobi, etc) have USDT pairs. the panic from this will send btc into capitulation.

>>13439210
underrated comment in this thread, please read anons

>>13439228
Keep calm and buy more ammo!

>>13439223
>>13439199
>>13439193

I'm starting to think this "1k" is paid shills. I mean, does anyone seriously believe this pathetic FUD? Tether is fucking old shit too, there are like a dozen other stable coins now and bitfinix is a dinosaur and is literally less than 1% percent of total crypto volume.

>>13439226
If you're looking at CMC, most of that volume is fake. Bitfinex is one of the top

>>13439239
The result of Tether failing would likely destroy this market. That 2.8B has been leveraged so far up the ass it's probably a multiple of that figure. I mean really think about it, every time BTC crashes, it has been propped up with Tether to bounce prices back.

The sad thing is, you just fucking KNOW Binance is pulling shady shit like this, if not even shadier shit.

The only thing keeping crypto afloat is the lack of regulation. It's literally the fucking wild west out there and of course the US is going to try to spoil the party as much as we possibly can.

>>13439097
On the chainlink train as well hoping lord sergey can deliver us from this clusterfuckery of being chained to BTC. While knowing full well grandpa shitcoin is going to drag LINK down to sub 10c if it actually does tank to 1k.

>>13439239
So it's a good time to sell the summer house and dump it into BTC?

>>13439210
>>13439218
>>13439226

To be clear when I Called it "Mt gox 2.0" I was stating it would literally be Mt gox 2.0, exchange going insolvent dipping out on investors.
>>13439205
As the others have said this is #33 ranked exchange, I never and I do not believe bitcoin will touch anything near 2k to 1k because of this. "Merlin" (bitfinex executive) stated it would, but that's mostly him trying everything he can to stress how badly he needed that money as legal action would be taking against him if he didnt get it like it is now.

that reminds me back in 2011 when the DOJ effectively banned online poker, it crippled the industry for a long time

>>13439267
>sub 10c LINK
yes please

>>13439257
right and a lot of volume from other exchanges is USDT pair trading. and again this isnt like a coin losing $2.8b in market cap with can happen just from demand being shifter, this is literally $2.8b dollars of value. remember what happened a few weeks ago when just $100m worth of btc was bought on the exchange? we went from 4.2k to 5k. when people start panic dumping into an already EXTREMELY illiquid market, this shit will crash way quicker than you could ever imagine

>>13439282
if i wasnt so attached to my link stack i could have tippled it by now

>>13439257
right and a lot of volume from other exchanges is USDT pair trading. and again this isnt like a shitcoin losing $2.8b in market cap (which can happen just from very little volume if the book is thin) this is literally $2.8b dollars in "real" dollar value. remember what happened a few weeks ago when just $100m worth of btc was bought on the exchange? we went from 4.2k to 5k. when people start panic dumping into an already EXTREMELY illiquid market, this shit will crash way quicker than you could ever imagine

Wow this thread really blew up. Thanks for the plebbit gold anons!! HUrr durr

>>13439228
>It just confirms that one of the largest exchanges

In no way is bitfinex "one of the largest" exchanges, it doesn't even allow people in the US to sign up.

Its #30 on cmc, and 0.5% of the total crypto volume.

>Bitfinex took $625 million in real money at a real bank from Tether, and in exchange gave Tether back $625 million in fake money at a fake bank.

>>13439300
Bitfinex has the largest volume of fiat to crypto in the entire market you fucking retards. the other exchanges are trading futures and shitcoins with USDT pairs

Can someone explain how Crypto Capital aren't the ones getting fucked here? Bitfinex borrowed real money from Tether's cash reserve to let customers withdraw because Crypto Capital seemingly lost or stole Bitfinex's money.

>>13439300
bitfinex is the second largest exchange by REAL volume and not FAKE volume, as reported by bitwise

>>13439299

>>13439339
>this image
we looked at the data

>>13439339
>bitwise

Are you fucking trolling? According some VC funded startup bank rolled by Facebook, Goldman Sachs, and JPMorgan? Very trust worthy source you got there.

>>13439339
that powerpoint was great. i didn't take that anon's bait bcz there's a 99.9999% that some random anon on a dead board doesn't know wtf he's talking about, and that the rest of crypto world is right to be cautious

>>13439300
>In no way is bitfinex "one of the largest" exchanges
That's a "yikes" from me, newfag

>>13439339
and binance doesnt have fiat pairs. they use bitfinex's USDT pairs. bitfinex is literally the largest fiat exchange and the retards here are acting like its nothing

>>13439375
you're a nobody and deserve no trust

>>13439412

It is nothing. You are just part of a coordinated shill campaign just like summer '17.

It sounds like they avetred the crisis. What's the big deal? How would a measly 500 btc dump us to $1k. You guys are absolute morons.

>>13438996
>transaction documents were signed on behalf of Bitfinex and Tether by the same two individuals. Those two individuals are also directors and owners of Digfinex, Bitfinex, and Tether.
So Crypto Capital loses $851 million because they were "seized", bitfinex/tether owners print themselves $625 million to stay solvent

Quadriga owner "dies" and they're one of 4 exchanges listed on the Crypto Capital site

Sounds like Crypto Capital is jewing everyone or getting jewed by all the governments and banks.

>>13439440
bait

>>13439440

Kek its so obvious too. Who the fuck has these random exchange volume pics ready to go

>>13439453
it took me 2 minutes to make that in microsoft pain you fuckin retard. have fun going down with the ship

>>13439453
>random exchange volume pics
it's a recent report and you can read it here, in SEC's website:
https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf

>>13439463
>>13439473
you're taking a bait...

>>13439354
>not understanding sarcasm
Kys

>>13439211
what about kraken kyc?

>>13438996
>>13439104
>>13439145
Why were the coins moved?
>Basically means it was an inside job. Shit hitting the fan.
How exactly does the movement of coins mean anything?
>>13439228
>Also confirms that it was a self orchestrated "inside job" back in 2016.
How?

>>13439210
>>13439212
>>13439273
Bitfinex is the second largest exchange you utter morons.

>>13439226
>>13439300
Reminder that you are clueless.

>>13439239
Why would $2.8bn evaporate?

>>13439333
The only person with a functioning brain in this thread, and as expected not a single person replied. Yes, CC are the ones that are going to get fucked if anything.

Very low IQ thread.

>>13439333
Sorry a little late but "Crypto Capital
told the senior Bitfinex executive the reason that funds totaling $851 million could not be
returned to Bitfinex was because the funds were seized by governmental authorities in Portuga returned to Bitfinex was because the funds were seized by governmental authorities in Portugal. Poland. and the United States" TL:DR it wasn't stolen it was claimed to be seized

>>13439446
Probably a little bit of both.

>>13439532
So are we facked or not anon?!

>>13439535
>TL:DR it wasn't stolen it was claimed to be seized
This can be easily verified.

>>13439546
I don't know. But what I do know is that you shouldn't listen to anyone here or anywhere because 99% of people is absolutely fucking clueless. DYOR.

>>13439532
See my reply I was literally typing as you typed yours, second

That wallet was untouched since 2016 until today, before the news broke. As I said earlier it's just really weird timing.

You claim this is a "low" iq thread but all you literally had to do was read the a few lines out of the link i posted to get the answer to that guys question.

>>13439532
I believe CC will get fucked but that doesn't mean bitfinex are blameless here

>>13439558

>>13439558
It isn't verified so far, all we have is this one source in which in acknowledges how Respondents claimed the seizure was false. There's no evidence given in the whole document supporting either side which is why I contuine to say claim. And I very much agree, DYOR which is why I linked everything so you can read.

SOMEONE GIVE ME A QUICK RUNDOWN

>>13439590

>>13439590
>The USDT marketcap is 2,848,738,952 and there is a hole of 900m in the reserve, 30% hole, so 1 USDT should worth 0,7 cents

>>13439590
See pic.

>last year
yawn

>>13439615
the gap is getting even larger. it is really over folks. there is no coming back from it this time. this isnt like last october where they could slide it under the rug by telling everyone that things will be ok. the only reason btc hasnt dumped hard yet is because people fleeing USDT is pushing the price up, but when this is over you can absolutely expect this shit to dump

>>13439532
thank you anon

regular candles are coinbase price, yellow is bitfinex. you guys have no idea whats coming

>>13439668
oh jesus. when it really dumps it's going to have the biggest market cap, isn't it

>>13439590
>>13439590
>Crypto Capital gets bitfinex's 825 million seized
>Bitfinex can't give customers there money back, is on verge of collapsing
>Bitfinex dips into Tether resverses to cover Crypto Capitals fuck up but doesn't tell anyone

All happened in the past few months dating back to october 2018

>New york attorney is now going after bitfinex for "covering it up" but also to see how that money taking from the reserve is effecting everyone.

>>13439658
Interesting....

>>13439708
lmao

>>13439708
Dumbass

>>13439684

Please explain

>>13438996
stop posting this creepy cat

>>13439684
oh fugggggggggggggggggggg

>>13439911

>>13439906
tether getting hyperinflated because there is more tether in existence than real USD backing it, the tether price of BTC will moon and your tether will be worthless

>>13440108

Does this mean BTC is likely to dump because of it?

>>13439926
huh from the thumbnail i though that was a picture of a horse's ass

lo and behold it's just a birb

i guess that's just how it is sometimes on this bitch of an earth

>>13439201
so you've just got a history of shitty decision making, then

>>13440212
nothing to dump into as tether is imploding, that's the shit part about it. it would have to be actual USD, or TUSD, or USDC, or PAX. FUD like this will cause a short term fall (thinking about september 2017 with the china ban), but long term no one cancelled the bull market. I already dollared up, preparing for at least 4400 USD

>>13439190
>BTC maximalism is not a meme.
Unironically the truth.

>>13439218
>over the course of the last couple years

kek fucking bitch made brainlet

>>13438996
>UASF
>NO2X

This is exactly why universal enfranchisement should never be implemented.

>>13439190
>cold storage is btc maximalism

>>13439190
Cold storage more like cuckold storage amirite

>>13438996
How can he support this?

>>13441148
Its where most of the volume to his shitcoin comes from.

>>13439164
Heh, no. Why the fuck should we go to 1k? Doubt it will even touch 4k

hoping for a crash for a proper buy in opportunity
prices are still retarded right now

>>13441148

Because he doesn't give a fuck about you or the "community" you gullible idiot.

>>13439218
You are a fucking brainlet. Don't try to convince yourself otherwise

Thread

How btc even dumps? No one is going to sell into shady stable coins and cashing out is a meme so the only thing left to do is holding