/biz/ - Business & Finance

>>25803522
you won the game, fren
enjoy your tendies

>>25803547
Thanks fren!

Well played, enjoy

They should open all their books up to NY just cause, kek you western mutts have been cuckd so long that you don’t even believe in privacy anymore

>>25803522
The most damning part is how they danced around the simple question of how BTC held for backing tether (which is being used to purchase more BTC) is acquired

>>25803522
Based.

>>25803522
The only smart person in the room. The "Tether FUD coordinated bad XRP Jews!!!" folks will soon experience despair like they've never felt before, and it will be delicious.

The tether fudding Samefag is busy

When the tether/Bitfinex scam finally unravels I think we will see a 50 - 75% crash in BTC price, possible kicking off a months long bear market. It might get rough. But if normies get rekt it will be all worth it

>>25803605
No, the most damning part was a maxi shill asking them "do you own shares in Deltec Bank" expecting a denial to lay the matter to rest and the fucking lawyer goes "we don't talk about our investments"... HAHHAHAHAHAHAHA that's as good as a yes buddy. So they DO control a shady Bahamas bank as well.

>>25803676
i dont know what they were thinking doing that podcast. they should have just remained silent on the whole thing

>>25803676
Exactly, that was like one thing out of at least five other things that ringed the warning bells.
It wouldn't surprise me that Tethers "customers" actually is Giancarlo and his friends who simply "ask Tether for a loan" which he/they use to pump up the prices.
Then they just rinse and repeat, while growing their real USD stack and Bitcoin stack.

The mechanism could be more complex, involving leverage trading and other forms of more complex price manipulation.
One thing is for sure, something is really fucking shady with Tether.

Show your sell of to 700K...Dumb fudder you barely own $250 your name. Proof me wrong with the sell off hashes and wallet address holding the 700K

>>25803522
larping faggot

>>25803996
im not behind a proxy, not giving you more than this. told everyone to buy in march 2020 too

>>25803996
Don't feel comfortable with posting my addresses here desu, it feels unnecessary.
It's fine if you don't believe me, you don't have to.

>>25803676
Imagine thinking you can go around and ask influential billionaires about their financial situation and investments, let alone a lawyer . Tether is basically a bank, theyre bankers, tether isn’t and never claims to be decentralised

>>25803522
If you post a photo of your hair showing you are anything other than chink or pajeet i will sell all i have rn.

I know i won't have to.

>>25803996
btfo >>25804200

>>25804338
I don't fucking care if you sell or not and I'm not going to play your retarded little game and waste my time.
People are already starting to learn about how shady Tether is, this interview will just 5x it and this shit isn't likely to go away soon.
People won't talk about when $250K BTC until the Tether case can be put to rest.
It also seems to be a lot of really wealthy people like Raoul Pal or the CEO of Microstrategy who barely have any clue at all about Tether, when they hear this interview it wouldn't surprise me if short sellers like Carson Block gets involved.
I am out, so of course I want to be right but DYOR if you don't trust me.

>>25804994
Sorry for some retarded sentences at the end, it's getting late.
But you now what I meant.

>>25804994
You made the right decision. As soon as it becomes massively profitable to 100x short BTC and reveal the results of forensic accounting into Tether, it will be done. Even if it goes to 60-70k it will come down to at least 20k again. Enjoy your profits.

there was a guy in here who basically said “dont worry, just watch whale movement of usdt on twitter send millions of usdt to binance and it will pump again and all will be well”.

really??? what a retarded incel mongoloid. lots of people here are dumb idiots.

>>25803735
My guess is that they did it because the interviewer said at the beginning of the interview that he thinks its all fud. They probably thought the dude would give them some sweetheart easy interview.

Literally anon who made out of casino with life changing money. Dont look back, and enjoy your life. All the best, dont listen to poorfags

>>25804284
no one asked for their fucking personal financial shit, they're asking them to show that USDT actually has the cash (or equiv.) on hand to back their currency

>>25803665
Not months, possibly a year or more.

>>25803522
You'll look like a genius in 4 months.

well i pulled it an hour ago and i am okay with that decision
also this>>25803665
fucking normies

I'm having trouble selling, I don't want to sell until it pumps a bit


Fuuuuuuck I bought pretty recently too

>>25806338
Don't be a retarded gambler, sell now and buy back after the dust settles on the 16th.

>>25806564
What fucking dust.
The 15th is when the company has to provide documents to the courts. What the fuck do you think happens, a judge pulls out his gavel and declares GUILTY on the 15th? You really don't know how corporate law works do you anon.
This could take years.

>>25803522
So is what you're saying is ((tether)) is pretty much acting like a ((bank)).
Bullish AF.

>>25806653
I fully expect them to not hand over any documents of substance. That's when the fun starts. plus we don't need to wait until the 15th to see a correction, look at the charts today.

>>25806852
no worry. 2.5 million pages of documents. no rocket science!

>>25806852
You are the worst kind of brown person.
You equate correlation with causation, and weak fucking correlation too.

You know that we don't get to see those documents right? And on top of that, a fucking 10 percent drop after A 100 PERCENT INCREASE IN ATH is not a fucking sign that this is some collapse.

Do me a favour and make me an extra spicy vindaloo, because you are not built for trading praveen.

>>25806852
They're literally stuffing a container truck full of documents and driving it to the NYAG office. Based and retarded at the same time. I enjoyed that podcast, can't believe the scammers have lower IQ than the average biztard after all.

>>25803598
Noooooo they must bend over for the us and big tech!

>>25806884
>supply a literal truckload of literal shit to delay the procedure as long as possible
That's what you do when you have nothing of substance. Literally what I wrote.
>>25806926
Yes full of useless shit, the reality is they can't provide the findings of their audit because it didn't happen.

Well done anon, you're one of the few people who will walk away from this shitshow with profits.
Buy some popcorn and watch this board go absolutely fucking nuclear pink once this scam really blows open.

>>25806926
Imagine not knowing it’ll take a year or more just to review and respond to all the docs, he thinks the wheels move quickly

>>25803522
well done dude, tendies for you!

>>25807021
do you think they will get the SEC and whatnot to order an immediate halt on USDT trading because of this bullshit?
i dont exactly believe in them letting these guys do their rofloperation for much longer

Can someone link the podcast

>>25807090
https://youtu.be/b_Uq5QCHcU0

>>25807088
The SEC don't need to do anything, the market reacts on announcements and news mostly. They may not halt USDT for another 10 years, but the uncertainty alone is enough for BTC to lose a decent percentage of its value. Imagine if Binance decided to drop Tether because of this, do you not expect the market to react?

>>25803522
Good.
Now pay your taxes.

>>25807194

Best part is that if the price tanks enough then this scam can blow up on it's own.
I bet the guys responsible just disappear and will never be heard of again and the Bahama bank just topples over on it's own.

What's really going to kill BTC and crypto prices in general after this, is the resulting regulatory action that follows.
There's going to be an absolute witch hunt from every financial regulatory organ against crypto soon enough and this is going to fuck over everything.
Soon it might be very difficult to even get money in or out of crypto if banks start halting any crypto related transactions.
The regulations will definitely come sooner than any hard decisions about the scam itself.

>>25807345
ripple/XRP is key to this while rest of crypto is BTFO'd

>>25807345
>regulations
with Democrats in charge it's a given.
> if banks start halting any crypto related transactions
>if
do you mean when?
>https://www.thetimes.co.uk/article/bitcoin-holders-barred-from-depositing-profits-in-uk-banks-pgswbfrdz

>>25807345
Says the seething nocoiner since a 2k btc

>>25807345
We've got a pretty comfortable cushion, but if the price keeps going down, it becomes a positive feedback loop. My prediction:

1) DeFi loans will collapse first. The interest rates will rise suddenly, then loans will default as the underlying asset falls below the principal of the loan. Since DeFi loans are packaged multiple times within each other, this will rapidly escalate into a domino effect of defaults and forced sells. The one who staked the BTC will lose it, of course.

2) Institutional investors will panic at the plummeting price and start derisking. Since they hold such large positions, the one who bought at the highest price will be incentivised to cash out as the price falls below the buy-in level, and dumping thousands of BTC at once will trigger sells from the other large holders.

3) With prices in freefall, anyone with spare capital will buy everything up hoping to cash out at $42k again. As this available capital is absorbed, the price will fall again until liquidity evaporates, and then there won't be a floor until $3000-5000

4) The price will oscillate there for the next few years until someone figures out another international scam to print money from thin air again. Hodlers parrot "best performing asset of this decade!!" until even they don't believe it anymore and quietly sell at a loss.

You made money congrats anon. I exited as well. Also it's not FUD if it's the truth. The words came directly out of the CEOs mouth. Take your earnings and buy land. Greed destroys, after a 2x I think it's time to sell.

>>25807510
10+ speculations here.
What, where, and how are you shorting to take advantage of your thesis and your big brain?

>>25807560
Sell after a 2x kek, stay eternally poor

>>25806911
>a fucking 10 percent drop after A 100 PERCENT INCREASE IN ATH is not a fucking sign that this is some collapse
How is it not a warning though? Seems like the beginning of a major correction imo

>>25807560
it's FUD, but pretending that the fear, doubt and uncertainty about tether's behavior is unwarranted is fucking stupid

>>25807176
So this gets released 15 hours ago
BTC starts tanking 15 hours ago

Looks like it’s the real deal

>>25807735
Also, you need a 50% drop to cancel out a 100% rally, because that's how percentages work.

>>25804284
theyre an erc 20 token larping as a federal reserve spinoff going to court this week to try to prove otherwise

>>25807735
the drop is actually accelerating now. the resistances will evaporate as the liquidity is very low, we'll plunge through 34,33 and 32k at this rate.

Just cashed out too, wish I did it a few hours back

>>25807930
Yes we will. Sold at 38k and I'm comfy as fuck. I'll be buying back at 28k when we hit an actual resistance.

help me: I sold and I don't get a mail that I sold, should I lower my price?

Can someone redpill me on the Tether FUD? All I hear is that Tether isn't 100% backed by USD as previously thought. Is that it?

What's Tether saying?

>>25807176
cant even listen to this faggot for more than 1 minute
how do normies like this? nails on a chalkboard

>>25808024
Tether has been printing insane amounts of tether, they have printed almost $10B worth of it since the start of the year (and yes, it's been 15 days), and they have printed nearly $20B tether since the start of 2020. This is kind of weird, considering that the total amount of tether before that was around $3B, and then they're refusing to be audited by anyone to prove that they actually have that money. Then there's also other things that people have been posting about how the price of bitcoin correlates with the market cap of tether, which kind of implies that the printed tether is being used to pump bitcoin.

>>25803522
See without you at $200k per btc, nigger.

>>25808024
Tether fud anons are speculating, and building speculations on top of speculations.
These anons could be:
1) nocoiners
2) folks getting short squeezed now
3) gold bugs
Straight from the horses mouth. Are Tethers fully backed:
18:15
https://www.youtube.com/watch?v=b_Uq5QCHcU0&feature=emb_title
If anons had so much conviction, they would short. They have 0 skin in the game which should tell you everything you need to know about... well everything.

>>25806852
If you read the recent updates from the court they have been handing over documents..

>>25808265
Despite overwhelming evidence and red flags, there are STILL people on this board who refuse to accept that Tether is a scam that grew out of control and is now threatening the entire crypto industry if it collapses. They probably won't believe it until it's too late... and maybe not even then.

>>25808241
Thanks anon.

If Tether falls, couldn't other stablecoins like USDC fill in? Why would the collapse of Tether be the death knell for BTC et al?

>>25808357
If it turns out USDT has been printed as essentially $0 cost to buy BTC, which is then exchanged on the open market for $34,476, then it means for the last 12 months, the ACTUAL price of BTC should have been some unknown number, between $0 and $34,476.

>>25808265

>Are they backed?
>Yes.
>How do you know?
>The guys said so.

That's your argument about them actually having the money.
This is like you posting a video of a priest saying that "yes there is a god, the bible says so" and then claiming that this is the irrefutable proof.
These fuckers haven't even said what the cash equivalents are. They only say that they're going to explore this subject in 2021 and that's it.
If they had an audit you'd have an argument. But the money is in a shady bank that might even be owned by them and no one can take a look at what they really have. But they sure do have the money. They said so after all.

>>25808352
>If anons had so much conviction, they would short. They have 0 skin in the game which should tell you everything you need to know about... well everything.

>>25808352
>what the hell is a CDO

Oldfag here.

“Just another Tether FUD”. It has happened many times and it will happen again in the future.

I laugh for all the retards with weak hands.

If you tell me “See you at 18k” Well.. see you at 200k in 1 / 2 years faggot.

Nothing will stop Bitcoin. Fuck the losers.

>>25808357
The problem is that it fucks with speculation because bitcoin was pumped up with mostly fake money (as most of the volume for bitcoin has been on BTC/USDT pairs)

>>25807510
Confirmed for midwit nigger

>>25808502
>if you sell before a dip and buy back in after you are a weak handed retard

FONZI SAYS HOW U LIKE UR PONZI!

I'm down $30,000 today. Why the fuck didn't I coin up. Fuck tether.

>>25808761
imagine how bad it is gonna be when tether finally implodes hahahahahah

>>25806564
Lol don’t sell anything. This is all a set up. This anon is glowing.

>>25808870
I'm not mad at tether for being niggers, I'm mad for not preparing better

Started with $300 and I've got $100k still. It's far from over.

>>25803522
Fuck you OP for sucking so much dick.

Congrats! You made a good call, be sure to save some on the side for taxes just in case you get hit hard, but otherwise well-played and hope you have a prosperous 2021! <3

>>25806884
Not shady at all to spam the NYAG. Haha. Yeah. A normal audit wasn't possible. Haha. I believe in Tether. Haha. Please like and subscribe.

>>25809186
CTO doing the work of CEO and CFO

AHAHAHAAHAHA

I work in banking and I'm listening to this interview right now, and something caught my ear and smells dirty as fuck:

>"Most of our largest customers are banked with Deltec, which is why we can issue Tether on the weekend as the transfers are internal and not on the SWIFT network."

On face-value this seems reasonable but it DOES NOT pass the smell test. I know a grand total of ZERO large institutions with billions of $ AUM who would be banking with this shady no-name offshore bank who I've never heard of before and has the credibility of a sleazy drug dealer in 80s Miami.

Now this can of course be the truth and enormous institutions might prefer to bank with said shady bank (even though there are countless numbers of reputable banks who have branches in offshore jurisdictions which are a million times more reliable), but I sincerely doubt it and I think this is clear bullshit that they cooked up to explain the printing on the weekend.

I just sold my position and I'll be waiting until after the 15th because there is no way in hell these guys are legit.

>>25808241
>how the price of bitcoin correlates with the market cap of tether, which kind of implies that the printed tether is being used to pump bitcoin.
newfags crack me up
they literally buy their own bitcoins from themselves at whatever price they want in USDT to paint the charts at unlimited volume

>>25809242
"Let me just ask if anyone seriously believes that we could we put under the microscope in the way we have and still be operating, it defies logic"

LMAO!!!! Maximalists are fucking brainlets for trusting this clown, who says this with a straight-face?

>>25803522
That’s a wise decision anon. But don’t forget to cash out to your BANK ACCOUNT. Then and only then have you really cashed out your profits.

I always wondered how the system pegging USDT to USD works, does anyone have a link to an explanation about how that works?

>>25809366
>of course I didn't kill him. who would kill someone in public. haha that'd be stupid right? so I definitely didn't do it

>>25803665
It will go to zero ZERO

>>25809242
>>25809366
>"We do not comment on the basket of assets in a general manner"

This is not something a trustworthy institution whose entire existence relies on the markets faith will say. Tether is literally used because it is supposed to be backed by something real and they refuse to comment on it?

Fucking clowns, there are ZERO AMs who are going to trust these scammers with BILLIONS of dollars.

i didn't think the news was this bad until i heard the podcast myself lmfao

>>25804833
Nothing in that pic corroborates his claims

>>25809754
i posted it.
i can never time the top but i nailed the bottoms. safer to secure profit and time the bottom again for me. your choice if you want to hold all way there

>>25809754
>>25809906
oh yea and im not OP but it's an okay amount of bt

>>25809573
It should be easy:
Deposit 1 dollar
Mint 1 USDT
You will now have 1 USDT/1 USD

>>25803522
what if i told you that the harsher regulation is the reason for the crash? Remember when Brian Brooks said on December 3 that Bitcoin regulations are coming in 6 weeks?

>>25807734
I own land. I won already.

>>25809906
10-4.

I bought dip at 33.5 & 33.7. I thought I missed my chance earlier today at 35

>>25810008
>Brian Brooks
This Brian Brooks?
>Former Chief Legal Officer at @Coinbase.

>>25809573
They say it's worth 1:1. Trust them, they say they have the money in a bank.
That's it.

>>25809656
Yeah the interview really shows how fucky it is. Might as well be talking to Pajeet phone scammers.
It's insane how easy the crypto market is to manipulate. Only thing it seems to require is some balls and a residence in a tax haven.
Then you can make whatever claims you want and hope that no regulatory authority is able to look into your dealings too quickly to put and end to the scam. Market will believe whatever the hell you tell it.

>>25810052
kek you bought a falling knife, idiot

>>25803676
It sounds incredible, but fully possible, if you are a lawyer you should have clarified that your client does not own shares in his bank, since he didn’t do you almost have to assume the worst. Now how will Deltec keep their bank charter long term if they are owned by Bitfinex/Tether who no one else wants to bank? It seems obvious the risk for laundering is too great even for Bahamas to accept.

>>25810169
Owning a bank is fine. Owning a bank and printing "money" is probably not so fine. I wonder how long Deltec will be able to hold their license after this.

>>25810169
It's not just their bank charter which is at risk. Even if they keep it and the Bahamas Financial Services Board ignores the obvious conflict-of-interest, their USD correspondent banking relationships with Tier-1/Tier-2 banks (JPM, Citi, banks connected directly to the Fed network) would be in jeopardy as the banks would deem the AML risks to be too great.

This happens all the time with no-name offshore banks and while some are able to miraculously keep their USD banking relationships (usually have their charters issued in Puerto Rico which has a very convenient regulatory framework to connect to the CONUS banking system, see Peter Schiff's laundromat that was recently busted) in 2021 it is essentially impossible to pull off a stunt like this without some serious due diligence from a million different parties.

My guess is that they recently bought the bank and the correspondent banks haven't wised up to it yet, allowing them to commence the rugpull to end all rugpulls which is this bull run.

>>25810147
>ou bought a falling knife

Teflon hands baby. I catch every dipp

>>25808024
tether is being used to pump bitcoins, and it's only 70% backed. people are seeing that bitcoin got pushed way above what it should be because of tethers scam

Would this impact ETH at all?

I assumed this was going to cause a crash with every coin but this sounds more concentrated with BTC

>>25810525
this is no ordinary dip baby. if Tether collapses, we're at risk of going back to 2016 prices: $1000 corn.

>>25810598
USDT is the primary trading pair for ALL shitcoins, altcoins, bitcoins, eth, defi networks, cryptoponzis, and has now infested ETH, TRON, BTC Omni.

What do YOU think?

USDT is still USD $1 though brehs except when scared noobs are selling it for 0.88 and look what happens, it gets bought, no shortage of buyers of a $1 asset at 0.88, I know it should be a surprise but somehow somewhere some anon is making money, I can't figure out how hes doing it...

>>25810598
Depends on the fallout if this is actually Tether rugpulling the market. Considering how big crypto has become I wouldn't be surprised if regulators and central banks seize the opportunity and introduce some very stringent regulation as a consequence, including possibly banning or otherwise severely limiting non-custodial wallets. Would be very convenient for them to do now that central banks are planning on rolling out the digital equivalents of their clown monopoly fiat currencies.

>>25803605
they literally said they bought some in 2015-16 and use it for transaction fees

>>25810712
It's also traded on an exchange where they have a vested interest to ensure it stays within the illusion of 1:1 with the USD.

>>25810692
I thought that was USDC

>>25803522
Why not get another stablecoin you dumbfucking retard?

>>25810640
And if the sun burns out we will all freeze to death. Do you lay up at night worrying about it?

>>25803522

>The risk ain't fucking worth the reward anymore.

This is precisely the thing. With 700k on the line the risk/reward ratio on bitcoin just ain't there at these levels. A lot of these moonboys only know how to estimate the upside, it's sad really.

You gotta know your potential downside, always.

>>25810763
If the sun went on a podcast with its lawyer and was asked "Are you burning out soon hahah" and the sun replied "Uh ah I'll let my lawyer answer that uh it's not really 100% true" while sweating bullets and looking guilty af then I will be shopping for a fucking rocketship to get me off this rock before I freeze to death.

>>25810747
>>25810692

What I am wondering is who else is in on this obvious fucking scam. I cannot for the life of me understand why Binance is allowing USDT monopoly money to be their primary USD stablecoin. I would have expected both them and other quasi-regulated exchanges (like Coinbase, who to ones surprise refused to list Tether) to disassociate themselves with Tether/Bitfinex due to the serious reputational risks.

Maybe I give CZ too much credit, he is after all a bugman who probably cares more about short-term gains than anything else.

>>25810753
Check this out, and decide for yourself.

>>25810712
Are you kidding?
Buy USDT for 88 cents/USDT
Go to Tether
Ask for Redemption 1 dollar/USDT
You just made 12 dollars (minus fees)

It will work for as long as Tether is solvent, which they won’t be any minute now, in fact who is selling USDT for USD? Maybe investors who got their redemption denied.

>>25803522


There goes your 1 chance in life to ever become a millionaire. Lol at these replies. Babys first bullrun. Paper handed pussies bever deserve to make it.

>>25810888
well fuck me

>>25810902
*12 cents

>>25810640
And yet I find this premise to be ridiculous, because btc isn't priced in tethers. If Tethers fall to 0.50/USD then 1 btc will become 2x in terms of tether, not in terms of USD.

>>25810902
The last redemption "proof" posted on Twitter was from a few years back. If you actually checked it out, the redemption was... $80,000. Total.

>>25810930
if Tether turns out to be gucci just buy back in a few days later

>>25810930
He has 700k. He will easily be a millionaire if he invest them in a diversified basket of REAL assets.

>>25810933
Note: This was Q1 2020, before they printed a further $21 BILLION DOLLARS HAHAHAHAHA
This shit is so fucked I can only laugh.

>>25810950
Kek well it’s a gamble of course. But that’s how you theoretically make money buying USDT for 0.88 cents/USDT. It is theoretically easy arbitrage money, as long as Tether is solvent.

>>25810996
is there any time to recover from the most recent dump?

What does something like this mean for DAI and other stable coins?

>>25810980


700k aint shit... especially after taxes. He literally sold the FIRST correction in a bullrun. This is the difference between a beta and a chad like me.

>>25803522
Fuck it, just sold, everything is crashing plus this tether scam bullshit.

>>25810949
Here's where they did the sleight of hand. BTC's price, right now, is actually 34,700 USD/USDT. It's both. You can buy it with either and arbitrage bots will average out the price. How much USD and how much USDT? Nobody knows. But because major exchanges allow you to buy the asset with one currency, and you can send it to a second exchange and sell for a second currency (and vice versa), the price becomes blended. This is why the US frowns upon people naming their money US DOLLARS T EDITION.

>>25810826
Sounds like you are just experiencing extreme confirmation bias. I didn't get that impression at all. If you are the only person who can see an elephant in the room it means there's probably no elephant

>>25803522
>slippage
lmfao, stopped reading there, you have no idea what you're talking about. nice try

>>25810902
I agree that practically no one redeems tethers for fiat.

In theory the existing fractional reserve banking system would fail if everyone suddenly withdrew their fiat. Similarly, in my metro area there are 6 times the capacity of the regional water supply, if everyone turned on their faucets, running water would fail.

All these hypotheticals describe events which don't happen- they could, in principle, though, like you could wake up and get hit by a meteor. Meteorgate is a serious thing, my friends. And a 70% reserve is far more substantial backstop than a fractional reserve bank.

>>25803522
Bitcoin is way too big and past Tether to manipulate with their few billions printed. Even if they did manipulate BTC price at some point it wouldn't be anything magnificent but merely a 1%. They're obviously shady but it wouldn't make any significant damages to BTC. Conduct your own research, evaluate the data absorbed.

>>25811114
>denial

>>25811089
If I'm the only one seeing the elephant, the price wouldn't have tanked 15% since the podcast came out. Maybe you can't see the elephant because your head is stuck so far up its ass.

>>25811037
USDC is safe as that is a reputable semi-centralised stablecoin. Dai is also safe as the value is maintained through its decentralised monetary magic, but I'd expect to see some serious volatility if this dump continues and the ETH market implodes due to USDT collapsing.

Dai is the best stablecoin on the market atm imo. Hope it will continue to exist and not get buttfucked by the regulators.

>>25811150
Agreed USDC is the safest, but they're so regulated you might as well change to USD desu, there's practically no difference for them because they are backed by audited cash.

>>25810826
kek. Excellent analogy

>>25803522
>I listened to the interview with Peter McCormack.
gib link

>>25811150
Read terms of agreement for USDC. There is no guarantee of deposit and right for redemption is conditional.

>>25810930
Lol my chink stocks have quadrupled in the last year. How pathetic that your only shot to financial success is through ponzi coins. Sad.

Lets say they go nuclear and freeze the assets of tether, literally come in through the skylights, mp5s drawn, all that.

Now Tether can't surreptitiously print tethers, sell or trade tethers, and bitfinex is shut down. I can't see why people wouldn't just dump tethers for anything else, including other stablecoins.

I just don't see the slippery slope to muh $1000 btc

>>25803522
the tether thing is a nothing burger. grats on taking profits though.

>>25803598
>lol you socialist wanting to have your banker provide you with an audit!
Anyone holding an unaudited token like this is retarded. I get the trading aspect, but for more than a couple days when USDC, DAI, and TUSD exist is retarded.

>>25803522
I learned this from the Buidl team, usdt has a function in the Mary contract where all usdt can be recalled to the origin wallet

>>25811263
Didn't know this anon, thanks for the info as I haven't read the agreement in detail. I think they are just putting that in there to save their ass in case of some force majeure event, the reserves are audited by Grant Thornton every month and while I think meme audit companies are memes, there is significantly more certainty in USDC than there is in USDT.

>>25810949
But part of the value of 1 BTC was determined by Tether, on the basis of 1 USDT = 1 USD. You're essentially saying, BTC's value in tether will double, but you omit that BTC's value itself was driven by tether. If tether's value drops so will BTC's.

Interesting feature

>>25811269
If it falls below mining Break-Even for a longer period (>1 month or so) it is probably over. In that case the entire eco system will freeze up. However are the exchanges even solvent? How mich cash withdrawals can they handle before they run out of cash? What will break first? Tether? The exchanges? The miners? The leveraged Hodlers? So many weak points in this chain sub $1000 is very realistic. Zero is realistic. Don’t be delusional there’s no saving this train if Tether goes.

>>25806884
Tether printer prints documents too. It's a new feature

>>25811496
It is more secure than USDT, however in the event of insolvency of the issuer you won’t necessarily get your money back, that money may end up in the hands of the banks/creditors of the issuer of USDC.

>>25806884
>among the documents were the following emails
>D1GGER B1CK P1LL$
>re:re:fwd:re:re:re:fwd: nigerian lottery authority
>fwd: corporate policies re:cunny

>>25811136
When lots of people spread baseless conspiracies it can cause real world consequences in the short term. ultimately reality prevails. Tether fud has been turned up to 11 recently and so a lot of weak hands who can't think clearly are getting shaken out. But soon people will realize they acted irrationally and things will even out

>>25811548
$0 is probably unrealistic desu, btc can function perfectly fine if difficulty drops enough to return to desktop processors being viable miners. It probably won’t recover ever again but we can at least trade coins that used to be worth billions.

>>25811539
You're missing the third leg of the stool, USDT/USD

That leg will adjust, the price of btc in usdt will go up, it will remain the same in usd

>I believe in muh efficient markets

>>25803522
>Trust in crypto markets will take a hard hit and institutions will become more skeptical.
getting crooks out the system is bullish retard

>>25811694
Tether FUD was dismissed as FUD, even by me admittedly. It was the underwear on head level retarded podcast yesterday that made everyone realise Tether is a fucking scam. I still dont know why the fuck they did that. Go and listen to it.

You're better than most investors with that critical thinking. If you explained your thought process to your parents & showed them your 700k profit then the following week their friends will be begging you to help them with the stock market.

I bet you're smarter than their brokers as well.

>>25811758
I'm going to listen to it. It better be as amazing as you think it is or my morning walk will be ruined

>>25811804
I guarantee you it’s golden kino level desu. You will actually stop several time while walking and start chanting “what the fuck!”

Frankly speaking I think there is going to be some obvious SEX happening by the SEC against coinbase because I just don't understand how they are going to greenlight coinbase to IPO when 2 weeks ago it was making millions in fees from people trading the illegal security XRP...

i've almost falling for it too i've asked for a debunk on a couple of project heads AMAs multiple times in moments where they were looking for a good question and nobody pays attention plus all logic and data shows newly tether pumping bitcoin

>>25803665
Will it be worth in buying BTC when it crashes 50-75%? You think it'll ever bounce back from that to make sweet profit?

>>25804994
>Microstrategy who barely have any clue at all about Tether
yes a company that has spent hundred of millions def didnt know about tether. after all the planning they had to do, not one dollar was spent to find out what tether was. hahah your thread is shit. go kill yourself pajeet.

>>25811758
I didn't hear any of that. Sounds like you've fallen victim to Tether Derangment Syndrome. Long term exposure to conspiracy theories and fudders can do that. Again if some people see an elephant and most dont then it's probably not there

>>25811886
I think that the SEC and other agencies are afraid of making industries lag behind.

SpaceX may screw up every so often but nobody would dare shoot that puppy with regulatory actions.

>>25803522
F

you are gonna rope.

>>25806653
Rumor, news, etc

>>25803522
>harsher regulation
That’s the plan you moron

>>25803522
You have chosen wisely.
https://youtu.be/-_IlNbsILLE

>>25803522
>I listened to the interview with Peter McCormack
WHERE IS THE FUCKING LINK?

>>25803522
why don't you retards use DIA instead of USDT? Is safer in every possible way
>inb4 muh liquidity
you can trade dai for usdt or eth instantly in uniswap without losing that much.
You will have to kill me to have more than 5k in tether.

>>25812054
You know what? Don’t buy, just leave it laying there at 75% if its value and check back in a decade. What do you think?

>>25812209
Lets say tethers activities are frozen. What happens to the 25,000 daily eth being paid to miners to finance its tethering activities?

People be talking about btc, but tether runs on the Efferium network

>>25812090
>he fell for the store of value meme
crypto's been a series of grifters grifting each other since its inception

>>25812711
Up dere

>>25813111
fucking thank you, 111

>>25803522
next time post it in the intro, god damn faggot

>>25803665
Bitfinex issues won't determine the price of BTC in the long run.

You're going to feel fucking retarded when BTC reaches 70k at the end of the month.

>>25810104

Exchanges should have banned Tether a long time ago from their platforms, but the fuckers generate most of their fees via USDT pairs, so they accept it even though they agree that it's a fucking scam.

Binance generates around $3M a day in fees from the Ethereum / USDT pair alone. It's fucking crazy

>>25813111
shame you can't see his face, only hear the voice

Tether fud has me worried about USDC now.
Is this whole thing just a house of cards?

>>25813460

USDC is legit. What the fuck are you talking about ? It comes from the most legit crypto company, Coinbase

MTGox bitcoins were actual stolen, and then sold on the market, which crashed the price. Tell us how you think this will crash bitcoin. Walk us through it. Tether is caught, and audited. They are then delisted from exchanges. Then what? Why would anyone sell bitcoin. They would get their cash out from Tether sure, but why Bitcoin and other cryptos?

>>25813488
>They are then delisted from exchanges

And people lose billions of dollars lol because those tethers always exchange hands. Someone has to baghold that shit.

It will destroy the entire market

>>25806884
Even people with no degree in law can tell it's a stalling tactic.

>>25813530

Will also shake market confidence and remove around 80% of the trading liquidity. And if it turns out that they were the ones pumping the crypto markets, then who the fuck is going to pump crypto to trillions in market cap ? It'll recover to 1 trillion in a fuck ton of years

>>25813488
Tether, if fake, has been buying $34000 btc for $0. Remove it and you now need real usd to buy btc. Buyers might not have $22billion usd lying around. Lower demand + same supply = ???

>>25813468
True.
I need to go to sleep

issue USDT
buy BTC that now backs the USDT
BTC price up
USDT has more money to be backing more USDT
buy BTC
BTC is up
USDT has more money to back itself
periodically sell BTC for USD at insane price
they have made a money printer
I'm impressed, I lost 250 dollars and I'm out

>>25806884
Oh no they’ve sent that many docs in that it’ll take Nyag till well past the end of the bull run to get through it all, probably sometime in 2022 kek. 4d chess

>>25813488
In MtGox case you had an increase on the sell side followed by decreased buy side, in Tethers case you will have an initial decrease on the buy side followed by an increase on the sell side.

>>25813468
Ask yourself what happens with your USDC if Coinbase goes bust.

These are the people who are holding the 22 fucking billion dollar reserves for Tether

hahahahahahahahahahahahahahahahahahahahahahahahahaha

>>25813940
>be my nyag
>ask for documents
>get chaffed
>not my first rodeo
>actually finds incriminating evidence in the chaff
Oops

>>25813982

Deltec (Bahamas)

>>25813982
That’s why the price is crashing
These people now need real money, so they pass on the hot potato and rush for a fiat exit
What happens when the next person realises it’s a hot potato?

>>25813456
cuz they're all sitting around a desk with a room full of layers telling them how to reply.

>>25807345
>regulatory clarity
Oh, the thing XRP has been asking for? Do you see it now?

So many newfags will fall to this again. Tether does not matter at all. It might cause a short term dump thats all.

>>25810725
That is exactly what is about to happen

Hold on a sec

Isnt the USD pumped out of thin air at ridiculous inflationary rates? Especially since the coof relief checks started getting issued? There's also the coin "shortage" to consider

Maybe there is more parity between usdt and usd than people realize

>>25803522
If this is true, wouldn’t people be buying up tether and redeeming it for USD with tether because there’s immediate arbitrage opportunity? Can someone explain what I might be missing?

>>25816122
You can't redeem USDT from ifinex unless you redeem a minimum of $50k a pop AND you are on their list of "special clients"

>>25816163
Thanks for the response, makes sense

>>25811886
>XRP
>Illegal security
HAHAHAHAHAHAHAHAHAHA YOURE SO FUCKED

>>25812209
It will be slapped with regulatory action once it has matured to the point that it is more beneficial for it to be so. There is nothing that will not at some point be tightly controlled and regulated.

>>25816071
Yes, it is the SAME SCAM. Except that the central bankers are not getting their cut of the scam, so now Tethers scam will end. The central bankers will now implement their own scam that will be fully backed by every government.

I work at a law office. Submitting documents (I bet most are years of transaction reports, etc) will take months and months to process. Public servants are sloooooooow. This is the same type of Tether/China ban FUD we saw back in 2017 before the mega run.

where can I listen to this interview?

>>25816739
Shhh don't tell them
These retards expect the new york judge to come out and announce that tether is a fraud on the 15th

This is why you guys SHOULDN'T BE SELLING.

Noone remember the tether fud in 2018? Tether was supposed to get cucked, BTC FLEW UP 6k-8k, think about it...

Where the fuck would you sell your tether into? its actually a good thing lol... guess what? there is another 100 stablecoins that will gain adoption... it won't be the end of the world. 125Xlong nice try.

> 80% BTC volume is from Tether
> Top BTC wallets are from Tether exchanges (Bitfinex, Binance, Houbi)
> Tether is backed with money laundering.
> USA/EU is creating new antifraud rules to track FIAT/crypto
> Yes, BTC is already too big to fail but biggest wallets bought it under $1,000

If they were doing illegal shit, feds would of taken them out many moons ago, instead they're being sued for 1:1 backing.

Do you fags know how these cases work? When Auther Anderson collapsed in 2002, it caused massive issues for the government. Thousands of employees out of work, financial damage throughout the entire financial industry. If tether is guilty, they will be slapped with a massive fine like the banks. They're not going to "delist" tether and cause a $1 TRILLION market to collapse. Millions of Americans own crypto assets. Think about it.

can an anon post the highlights of this interview: https://www.youtube.com/watch?v=b_Uq5QCHcU0
So far an anon mentioned 18:15 is there any other important parts I should hear ?

>>25816850
https://www.whatbitcoindid.com/podcast/questions-for-tether

>>25817995
it starts around the 23~24 minute mark
they're asked about the concerns of tether manipulating bitcoin
gives bullshit answer

>>25817967
Pretty sure they don't give a fuck about "millions of mutts having crypto assets". Ripple got buttfucked without a bigger fuzz. They don't even have to take Tether down, they probably cannot even do that. But if they completely destroy the trustworthiness (show proof about heavy manipulation, buying Bitcoin for "free") then would people still want to hodl their coins?

>>25817967
Look at what is happening right now with Trump and MAGA though. Big Tech are doing a huge powergrab along with the democrats and rinos.
Gab blacklisted by Visa etc.
Bitcoin and crypto in general is a huge pain in the ass for the powers that be. They would totally crash a 1 trillion market if it helps them gain more control and go forward with the great reset. Hell, all of Western World crashed a way bigger market and economy just so they can get their dick hard locking people in their homes.
You have to be smart and see how bitcoin and crypto in general is at the center of a huge political and geopolitical power struggle.
US spends trillions on their army to maintain the dollar reserve currency and basically bomb the shit out of anyone posing any threat. Do you see how "muh 1 trillion market theyll never crash it" is totally retarded now ?
Look at XRP, its obvious banking jews dont want a decentralised system they have no control over. Its obvious States will try their hardest to fuck over any chance of financial freedom for the plebs.

https://twitter.com/search?q=%20(from%3Awhale_alert)%20%22minted%20at%20tether%22&src=typed_query&f=live

>>25818362
I mean look Gab is accepting payment in echeck and bitcoin. Wikileaks put their insurance files links straight on the bitcoin blockchain. Its obvious the kikes hate blockchain and will try to control it.
If you schizo'd a bit and followed the xrp generals, you would understand how tether is a huge and real FUD. Backed by shady chinese exchanges to buy shady btc hashed in China ? What is ISO20022 ? What is Circle and the USDC that fits into it ? What is the new OCC regulation allowing stable coins to be used by US banks ?
The writing is on the wall they will fuck decentralised / anonymous (zdash, monero fud) / chinese owned crypto and blockchains and usher in stuff they have complete control over like USDC and XRP. Then you can kiss bye bye any modicum of freedom from government and big tech regulation and monopoly.
Thats why so many people seethe at XRP, they know it will completely fuck over their crypto will free humanity utopia. I'm not too happy about it either but I'd rather at least get somewhat rich on it than get fucked and robbed poor anyway.

So I'm supposed to believe they somehow actually have almost $24,268,973,978 sitting around somewhere, without a bank account? Are they fucking kidding me?

>>25808024
>Can someone redpill me on the Tether FUD? All I hear is that Tether isn't 100% backed by USD as previously thought. Is that it?
Bitfinex is a scam Chinese company and they own tether:
https://en.wikipedia.org/wiki/Bitfinex

Read pic related.

>>25818946
Also this is how Bitfinex is manipulating not just BTC with Binance/Huobi washers but the alt market as well. If you want the rest read the impending RICO charge against them in New York:

https://www.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.154.0.pdf

>>25818990
I want tether to explode as much as you but be honest, it's a CIVIL suit which is fucking meaningless. Wake me up when the feds bring a rico charge, then I'll care. Until then resume the bull

>>25819197
as i said it's a civil suit, the gov just wants a share of the pie. tether will get a big fine and everyone goes on their merry way. Watch Billions, they're all corrupt.

>>25818362
This anon is on the right track. Why would the elites care about millions of Americans? How does caring about them
help them achieve their goals? In this case, it does not!

>>25818619
And the anon sees the picture! Exactly right. It is now time for the elites newest iteration of FIAT!

>>25819592
and I mean im banking on XRP because they have all the right connections and putting the dots together theres a good chance all those iatba coins will be used in the new elites system (XLM XRP ALGO IOTA USDC JPM? ). Thats what I'm banking on anyway because theres nothing else to bank on.
Maybe its wrong too and they will just all make their own cryptos but if thats the case there will be no profit to be made anyway as we cant accumulate any of them beforehand so.

>>25803522
Tether accounts for around half of the tradable supply lol they pump the price with fake usd. The public come in with actual fiat, they take the real at the high price and dump the market. All the while driving demand away from real safe havens like silver and gold. They do not want the comex system blowing up any time soon

>>25818362
>Its obvious States will try their hardest to fuck over any chance of financial freedom for the plebs.
And thats why crypto gonna fail

>>25803522
Tether in combination with marketing hysteria on mainstream business media has poomped BTC. It's going to go down HARD. The Tether lawsuit is scary as fuck as well. If this plays out like i think it will , government will prove that Tether is at best backed by 70 cents ont eh dollar. At best.. this will erode all trust in crypto for years to come. If and when stonks crash as well , this shit is going lower than in March

>>25813030
It actually not that simple anon, BTC is only valuable because everywhere thinks so, none really "needs" BTC. If everything gets so bad that none believes in it anymore, it might indeed not be worth buying.

BREAKING NEWS!!
ATTENTION
ALL
ANONS
THAT HAVE CRYPTO IN COINBASE PRO or CB
If you try and send Crypto to any of the addresses listed on Coinbase's "New Blacklist", your transaction will be canceled!
Right now they have blocked ALL addresses from Bitchute if one wants to donate or pay for a membership

Multiple Anons have confirmed this already!

MOVE YOUR MONEY OFF ALL EXCHANGES NOW!!!

>>25803522
based
if i had as much as you i probably would have cashed out
at $300K and below it's not life-changing, so the slight chance tether crash might not happen and crypto would keep pumping, thus losing a free chance at making it, would be more psychologically destructive than losing what we have now
but $500K+ holders definitely ought to cash out

>>25808265
>Straight from the horses mouth. Are Tethers fully backed
jfc what a cope

>>25817995
>tether is backed by loans made by third parties
this outright says tether isn't backed by any definition of "backed" that matters
you can get away with anything in crypto

>>25821327
this. Tether is just fake money laundering all of the real money out of crypto.
>Muh 20B market cap
Mother fucking anons please, please, they are flushing that 20bn through the system every day, skimming off just enough real money that it doesn't collapse. There is going to be nothing left in crypto by the time auditors lift up the hood. It's already gone.

>>25803522
lol boomer got fudded by pajeets - ngmi. $700k isnt make it money you poor bastard

>>25803522
>I listened to the interview with Peter McCormack.
why are you doing this to yourself ?

>>25812084
>he thinks that michael has a brain and uses it
kek ngmi

>>25808413
anon u don't know how trading works
price is dependent on future sellers and buyers, not the past sellers and buyers

>>25803665
>50 - 75% crash in BTC price
kek you will have to PAY people to take your monopoly money it will be that worthless

Not gonna lie but I'm scared of Jan 15.

>>25811235
https://www.whatbitcoindid.com/podcast/questions-for-tether

>ctrl+f XRP
>11 results

some of you already understand.

>>25822376
thanks anon

This is clear fraud.
Just listen to the guys speaking, I'm 100% sure.
If you hold any crypto, the smart thing to do is sell it, at least until these events past buy. Just because this can end up not being a crash, but actually a wipe out.

>>25823609
*pass by

Op ended up making a pretty swell trade.

>>25803522
>Peter McCormack
Post link nig

>>25824259
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA