bitfinex insolvency

[Anonymous No.11387419]

who else actively watching Tether Implode?

[Anonymous No.11387434]

>>11387419
I'm prepared

[Anonymous No.11387449]

>>11387434
holding PAX on Binance right now and watching the USDT/USD chart on Kraken. If it hits 0.95 I'm sending my PAX off of Binance

[Anonymous No.11387450]

>>11387419
I'm 100% Tether on binance, so I'm safe?

[Anonymous No.11387458]

>>11387450
No

[Anonymous No.11387469]

>>11387419
>Down to .99 cents.
>”Imploding”
>?????

[Anonymous No.11387473]

Its at .98 now amd is fine

[Anonymous No.11387482]

>>11387469
>>11387473
verification even /biz/ is asleep at the wheel

[Anonymous No.11387532]

>>11387469
Steady decline over the past days, but not imploding so far

[Anonymous No.11387545]

>>11387450
in case it turns out it wasn't fully backed it will literally implode like bitconnect

[Anonymous No.11387555]

>>11387419
>Tether fud
Unfortunately indicates a crash

[Anonymous No.11387560]

>>11387419

It's about fucking time.

I hope it takes down every other exchange that is complicit in the USDT scam, Binance included. Fuck that CHink.

[Anonymous No.11387561]

i was absolutely sure this fucking scam would implode much sooner, so it can happen any day or never i dont's care really.

[Anonymous No.11387564]

>>11387555
Oh shit you're right. This same this same thing happened in January

[Anonymous No.11387574]

>>11387545
if this turns out to be true crypto is literally over

[Anonymous No.11387603]

>>11387564
The idea is to STOP you from tethering up

[Anonymous No.11387606]

bitfinexed blocked me :(

[Anonymous No.11387698]

>>11387606

I opened an account with them a while back and I got a notification a few days ago that they are suspending fiat deposits.

Sure smells like fucking insolvency to me.

[Anonymous No.11387820]

What happens if it implodes? Everyone runs to bitcoin? Whole market crashes?

I must know?

[Anonymous No.11387835]

>>11387419
Why would BTC crash if tether is proven a scam? It's not like it would instantly turn unsuable.
People would flock to market buy BTC as soon as fucking possible as to not lose their funds... The reverse would happen from a crash

[Anonymous No.11387847]

>>11387450
you lost like 2% of your wealth

[Anonymous No.11387875]

>>11387419
4d chess anon here... if tether is gonna exploade.. the based time to do it is at the very end point of the triangle

[Anonymous No.11387890]

I actually believe tether will moon very hard. all that pegging is not very sane. expect usdt around $100 eoy

[Anonymous No.11387902]

since yesterday you can't check Bitfinex's Tether / Dollar on Trading View
>>11387890
it's already mooning on some exchanges

[Anonymous No.11387915]

>>11387835
Yeah but they market buy with tether, leaving the USD price unchanged and probably decide to leave crypto as a whole so they dump their btc on real fiat exchanges.

[Anonymous No.11387924]

So if tether blowup wont that signal a alt coin bullrun? Everyone will dump worthless tether and buying whatever they can get their hands on right?

[Anonymous No.11387949]

>>11387924
You got it. And after that it will crash.

[Anonymous No.11387989]

>>11387835
This retarded shit again.

Tether going down != BTC going up. If Tether implodes, people will run to fiat as a safe haven (obv since they were "Tethered up" in the first place). Massively increased trading from crypto to fiat is what will cause the price to collapse.

Your logic assumes USDT=USD is a law of nature, which it most definitely is not.

[Anonymous No.11388003]

>>11387989
it's much easier to buy btc than cashing out though, I will personally flock to btc if shit really hits the fan

[Anonymous No.11388078]

>>11387419
I'm 100% in PAX in my own wallet... am i safe ??

[Anonymous No.11388084]

>>11388003
Pretty much this. If everyone is going from tether to tether to btc to fiat....most will just stop at btc since btc will fucking moon. Beside lots people are trading dark money and never plan to cash out so btc/alts/stablecoins is where the buck stops...or until they can get into another usd backed token.

[Anonymous No.11388098]

>>11387902
lolwtf is this chart?

[Anonymous No.11388121]

>>11387450

You’re safe until the US govt. shuts them down for securities fraud (which is coming and has been rumored for months). Everything about tether is a scam.

[Anonymous No.11388138]

>>11388121
>been rumored for months
you mean bitfinex and his sock puppet twitter accounts.

[Anonymous No.11388140]

>>11388084
> ...since btc will fucking moon.

The logic of this... Look, when Zimbabwe's currency collapsed, an apple whet from being maybe 1 Zimbabwe dollar to 1 million Zimbabwe dollars.

But here's the point: people holding apples (like maybe an orchard) didn't suddenly become hyper-wealthy.

Christ give me strength.

[Anonymous No.11388164]

>>11387835

Bitcoin and the whole market would crash because now people no longer have the illusion that their money can be kept “safe” by tethering up, plus it means a top 10 coin and the exchange that provides it would go to zero, ala Bitconnect. People would cash the fuck out when the market dips instead of just tethering up and buying back in a few days later. That means dramatically less cash in the entire crypto market, leading to a cascading series of lower lows. There are other stable coins promising the same things as Tether now, so it wouldn’t be as dramatic as it would have been a year ago, but it would be bad for the market like another Bitconnect or Mt. Gox situation.

[Anonymous No.11388167]

>>11388140
he ment short term, everybody will be orderbook buying the shit out of btc and at that moment a lot of people might still believe 1 usdt=1usd

[Anonymous No.11388169]

My impression is fiat is fleeing, the lifeboats are full, if you get out with less than 5% loss in nominal tether dollars you're early

everyone else is fucked

[Anonymous No.11388190]

>>11387835
Lmao you think btc would pump if it was realised that the entire market is propped up by fake dollars being printed at somebody’s computer and the whole space is a literal Ponzi scheme

> some people

[Anonymous No.11388191]

>never used tether
>do not have vested interests in FUDing Bitfinex
>do not follow cucks on twitter that are mad they sold pre-bull run so are emotionally invested in "getting back" at bitfinex

Who /comfy/ here?

[Anonymous No.11388209]

>>11388169
you can always buy tusd, the guys behind it honestly back it with fiat even if crypto collapses

[Anonymous No.11388211]

What if the imposion of Tether will be the catalyst for the upcoming capitulation phase?

[Anonymous No.11388218]

guys whats going to happen to my link?

[Anonymous No.11388230]

I met an €ternal bagholder last weekend, he's convinced last weekend was the bottom and we are going up

>€ternalbagholder.png

I think we are going to take another 90% leg down. Fomo WILL BE replaced with fear of not getting or fast enough, FONGOFE

[Anonymous No.11388251]

>>11388218
In the scenario of BTC $2k every other ERC20 shitcoin will loose another 70% of value for example

[Anonymous No.11388268]

I fucking hope tether implodes, it will be the spark for BTC to hit 10k+ and move into bullish territory.

[Anonymous No.11388294]

>>11388268
Technically Tether cant possible implode in any way or form without the BTC ledgers integrity is destroyed -> double spend etc..
The only way it can implode is the psychological part in the brains of people: dont trusting it anymore as a dollar pegged asset

[Anonymous No.11388315]

>>11388209

I sold 45000 tusd when this retarded market pumped it 1.28 last may

I do think the liquidity famine that is coming will push these coins through the roof but to profit you are going to have to sell out through their fiat mechanisms so this will not be liquidity in the system but net outflow

the reason for the premium of Twitter based exchanges is because coins are being moved to fiat exchanges and selling pressure is high

Some amount of the volume on exchanges like Binance on eth ltc, etc etc are just buying for the p purposes of quick transfer to first exchanges to cash or to mitigate risk

The descending triangle represents a market whose mechanism for pumping is failing like a bilge pump on the titanic, eventually water floods the engine room, no more mechanism, it goes into free fall, the mass displacement of the ship is neutralized and begins to sink.

what we are seeing is structural failure of the crypto ecosystem. Tether not holding a peg is one, stablecoins soaring value is another, and simple prices falling is another.

all these veteran oldfags aren't wrong about shit going to zero. A lot of people will capitulate (jump off the ship at the last moment). The wise know that means certain death by hypothermia in 5 minutes, and they already got in lifeboats. The real smart ones helicoptered away at 10k+.

The titanic analogy is a good one in the sense that there aren't enough lifeboats for everyone. Let the market hold bags, get the fuck out while you still can.

[Anonymous No.11388317]

>>11388251
fuck me. i cant afford for my bags to get any heavier

[Anonymous No.11388337]

>>11388230

>bounces off $6k 5+ fucking times
>thinks it is going down 90%

D E L U D E D
E
L
U
D
E
D

[Anonymous No.11388338]

>>11387419
>muh tether is a fraud
fuck off bitfinexed, nobody likes you

[Anonymous No.11388344]

>>11388315
fuck - this made so much sense what you wrote. and you dont even mentioned the gox sell off next year.

unironically market selling everything is the only right thing. MSM was all over crypto boom last december and didnt lost a single word about it ever since. like literally not one article. i get the feel they will report it again about their called death of crypto when btc heads to tripple digits

[Anonymous No.11388356]

>>11388191
cool, I don't follow fudders and news either, the way I found about this was it turned out my balance slowly shrinked by 2% in value over a week. picrelated blue line - btc tether, red line - btc us dollar, you have to spend a hundred of those chips more to buy bitcoin now

[Anonymous No.11388359]

>>11388315
so what are you proposing? just getting out all together and wait on the side lines for another year?

[Anonymous No.11388362]

>>11388098
Wex. An exchange that halted withdrawals. Thanks for having a laugh.

[Anonymous No.11388364]

>>11388315
hey man, I'm just looking for a way to save me balance here, I'm not retarded to believe in some x100 gains or golden bull run in a short term

[Anonymous No.11388397]

>>11388190
You dense mother fucking retard. He's saying that the demand for btc would be temporarily higher, due to everyone buying up the order book to get out of tether. It won't be a lasting run, but it will drive the price up to ridiculous levels.

[Anonymous No.11388410]

>>11388359

my basic proposal is there is no reason to hold onto a depreciating asset

if you are a gambler, get professional help

[Anonymous No.11388411]

>>11387835
I'd like to be a bit more apocalyptic than the other people that replied your post. If tether crashes, all major exchanges will go down too. Binance, BitMEX, OKEx, Bitfinex, all of them will disappear with billions of user funds. We're talking about a crash that will bring BTC to 100$.

[Anonymous No.11388415]

>>11387545
>in case it turns out it wasn't fully backed it will literally implode like bitconnect

So many markets use USDT for trading against other crypto that if USDT collapses the whole market is completely fucked.

[Anonymous No.11388416]

Cash is king for the rest of the year

[Anonymous No.11388424]

>>11388167
Thanks fren. You understood my post.

>comparing apples to bitcoin
I dont even have a face for this.

[Anonymous No.11388425]

>>11388416
Fuck me i made a little money trading shit coins. I cant afford to hold cash on coinbase just to get fucked with taxes

[Anonymous No.11388427]

>>11387450
If you don't hold your own private keys you are never safe.

[Anonymous No.11388447]

Tether is a disaster waiting to happen. It's only a matter of time. People extrapolating the past saying that nothing bad will happen because nothing bad has happened yet is a logical fallacy.

You have an unreputable entity printing money and buying real assets with it. They have every incentive to be dishonest and then throw up their hands at the end to say they got "hacked" or something ridiculous. Your money isn't insured. There are no guarantees here. You will lose everything.

[Anonymous No.11388452]

>>11388411
>They will vanish
It really depends actually. If they are solvent they are fine. Anyone holding Tether just gets fucked.

If the exchanges have been doing what everyone suspects them to be doing and SELLING COINS THEY DON'T HAVE for various reasons then they are all fucked. A lot of smaller exchanges like Bibox list low caps and fake volume and then endlessly dump the price by selling large sums of coins they don't have into any volume the coin gets.

Exchanges like that are just going to fucking vanish when people actually try to remove their coins all at once only to find out they have been manipulating the market and the coins they were trading didn't exist.

If Tether falls it will literally remove 95% of the scam exchanges.

[Anonymous No.11388453]

>>11387419
stop it carlos

[Anonymous No.11388470]

I only trade on dex am I safe? All my trading volume is on etherdelta, idex and waves dex.

[Anonymous No.11388479]

>>11388470
You're "safe" if you're not holding Tether. However if USDT crashes it will likely lead to a crash of everything. So in that sense, none of us are safe.

I general DEXs are the way to go. People will figure that out, they just need to lose a lot of money first.

[Anonymous No.11388497]

>>11388425

you don't have to hold on coinbase

tusd is as good as usd ( maybe better with coming volatility )

I don't know anything about pax. there are a few collateralized stablecoins coming online.

If you kyc yourself you can buy stablecoins for a dollar. Stablecoins will always have value. they are going to be the standard for smartcontracts where deals can be made without the risk of slippage. I think there will always be a market premium for them.

the stable coin market cap is tiny but they are gaining

[Anonymous No.11388511]

>>11388167
>might still believe 1 usdt=1usd

Yes, incorrectly believe. That's my entire point. BTC isn't going to fucking "moon" because Tether is collapsing. My apples analogy is bloody balls dead on accurate.

[Anonymous No.11388514]

>>11388497
Thoughts on DAI? think for the discussion btw?

[Anonymous No.11388529]

>>11387419
not insolvent but will get shut down for money laundering. simple as that

[Anonymous No.11388542]

>>11388497
i just googled PAX and the first couple articles are talking about a backdoor

[Anonymous No.11388547]

>>11387603
Fucking this. The january tether FUD was absolutely insane. Reddit, /biz/, everyone freaking out that it will be any moment and it will crash to zero and anyone in it will lose everything. I listened like a retard, didn't tether up and ended up losing $180,000 in the crash. At least I was smart enough to tether in April and still kept my $120,000

[Anonymous No.11388582]

>>11388447

tether serves a vital market function of creating liquidity pools. the exchanges make shitloads of profit off the trading volume.

There is a black swan possibility of some government sanction on Tether, sure. But in the sense that it's a stablecoin with a use case (exchange liquidity) and secure (Omni layer) is also a reason it's not too bad an investment.

To be clear, I think crypto is going down, but I think it's as likely tether will go back to 1.00 because nothing has fundamentally changed about belief in tether (fundamental) and the stablecoins are going to stay above 1.00 for it's intrinsic redemption value.

What I am saying is that proof has a slightly higher premium than belief as a fundamental for a currency. But belief can totally blow away theoretically while proof is resistant. When belief is high, it can support $2billion in liquidity and it does so on a regular basis. If belief cracks because of some black swan, regulatory crackdown, server seizing exchange raid... who knows what happens... exchanges probably totally halt trading.

I am just speculating, the chaos in the market would be insane.

[Anonymous No.11388614]

>>11388514
I looked into DAI, it's just too complicated.

I was balls deep into nubits when it imploded, I got out without too much damage. Its complicated rube goldberg three way stabilization scheme reminds me of DAI, not that it's exactly the same, but that it's complicated.

The collateralized scheme is just simple which makes it resilient.

[Anonymous No.11388631]

>>11387574
This, tether pumpet since years ago, its not magical to go from 0 to 20k.

[Anonymous No.11388914]

>>11388582
>because nothing has fundamentally changed about belief in tether

except the exchange that is issuing them is having trouble with banks

[Anonymous No.11389314]

>>11388138
They received supoena: https://www.bloomberg.com/news/articles/2018-01-30/crypto-exchange-bitfinex-tether-said-to-get-subpoenaed-by-cftc
Might take two years but bitfinex is going down.

[Anonymous No.11389361]

>>11389314
Lol this market is in for a rough couple years. Oh well, guess it's time for me to wagecuck then buy everything hella cheap

[Anonymous No.11389411]

>>11388614
>collateralized scheme
Even these scare me tbqh.

I don't really want a decentralized stablecoin, I would much prefer digital banknotes issued by a central authority who has made a legally binding and auditable promise to back every single one with the corresponding real asset.

Yes, not perfect either, but at least it won't implode in a black swan.

[Anonymous No.11389460]

Tether fud is a sure sign of another leg down. We 5800 again boys.

[Anonymous No.11389963]

>>11389314
More like two months

[Anonymous No.11391319]

.

[Anonymous No.11391345]

>>11388003
It's easier to cash out than watching BTC falling in value next after Tether implodes in a domino effect. No amount of shilling can convince people to keep holding.

[Anonymous No.11391833]

>loads the tether fud

This is actually bullish.

[Anonymous No.11391853]

>>11391833
yeah, right man. usdt market price is already 0.979, the same as in january. but in january there was an extraordinary situation - considering the bubble was popping and the overall chaos. what's the matter now?

[Anonymous No.11391876]

>>11391345
true, cashing out is relatively easy. pouring my fiat back onto the exchange though if btc starts to go up is a whole different matter. the unstoppable force of "whatif" keeps me in the market

[Anonymous No.11392182]

>>11391853
Tether is worth maybe ten cents on the dollar and we're all fucked is what's the matter now. This is what happens when people print money.

[Anonymous No.11392253]

>>11391853
Last shakeout, that is the matter now. Just sell everything you stupid goyim, it's gonna crash another 300%!!!!!1!1!!

[Anonymous No.11392277]

Ahahahahaha

[Anonymous No.11392294]

>>11392277
>In this moment, I am euphoric

[Anonymous No.11392310]

>>11387603
jokes on you, im true usd'd now

[Anonymous No.11392328]

>>11387924
i just switched to trueusd, so probably not. Its on binance also so its easy.

[Anonymous No.11392354]

So alt bullrun when?

[Anonymous No.11392408]

fuck it. just took all my tokens of exchanges. im not sitting around for this shitshow.

got a $1k short on 20x leverage on bitmex so if anything does happen, at least ill get out with something

[Anonymous No.11392418]

>muh if tether crashes the whole market crashes

You guys are honestly the /pol/ IT'S HAPPENING of crypto. Remember when everyone said Bitconnect collapsing would bring down the market in a tidal wave of lost confidence? What actually happened? Fuck all. Bitconnect went to zero and the market carried on. If Tether goes to zero it will be the same thing. The tether bagholders get fucked and the market picks up a new stablecoin and it's business as usual. There will certainly be solvent exchanges who will pick up volume if the rest go under. Please stop with the ciclejerk doomsday predictions.

[Anonymous No.11392471]

>>11387902
god, wex is like the revolving door anus of the crypto space. every scammer and russian drug lord shows up here, blows his filthy load, drops a $50 on his way out. how is this place even operating like this still, esp. after getting assblasted by the Feds last year?

[Anonymous No.11392488]

>>11388230
covfefe

[Anonymous No.11392502]

>>11388547
It is reverse psychology. It will be the opposite this time. Remember, trust nobody on /biz though....

[Anonymous No.11392505]

>>11392328
did you switch before of after the crash? because tusd price is 1.05 so added to that 2% lost if I switch that will make 7 percent of balance lost and I'm reluctant to do that just yet

[Anonymous No.11393000]

>>11387820

The market will implode. There's not enough actual magical internet money for people to cash out, and no one will want to be saddled with worthless less magical internet money.

It's called a bank run, anon.

[Anonymous No.11393159]

>>11387419
Nothing is going to implode, at worst bitfinex allows one-time withdrawal through a lawyer, like they did last time.

[Anonymous No.11393198]

>>11393159

Last time, they took 36% of everybody's money.