/biz/ - Business & Finance

[Anonymous No.11401307]

Is Tether collapse needed to start the final capitulation dump and break down from the meme triangle?

[Anonymous No.11401311]

Yes and it will happen, believe me

[Anonymous No.11401337]

>>11401307

They're dumping and hiding tether as fast as their infrastructure lets them.

[Anonymous No.11401338]

i like how tether fud appeared before btc shit the bed again
must be a coincidence

[Anonymous No.11401350]

>>11401307

How low we going boys, 2k?

[Anonymous No.11401361]

>>11401338

[Anonymous No.11401380]

>>11401338

Tether is soulbound to bitcoin. The mega scam went on for too long, and people are holding more tethers than the exchanges have bitcoins they can cash it out for.

That's why the 'stablecoin' magical internet money token has dropped to 92 cents on some exchanges, and commands a premium on others. I'm sure they can calm the situation, but the people running this thing are as dumb as the people who gave them money for it.

>>11401350

If tether tanks, bitcoin tanks to fuck all, and there'll likely be a crypto equivalent of a bank run.

[Anonymous No.11401381]

>>11401361
Kekkkkkkkkk ty for the laugh

[Anonymous No.11401384]

>>11401361
That is weird and spooky

[Anonymous No.11401429]

>>11401307
How... if stable coins arent stable bitcoin is the next best thing.

[Anonymous No.11401442]

[Anonymous No.11401459]

>>11401429

That's like saying since the Zimbabwe dollar has been proven to be complete garbage, and not worth the paper it's printed on, it's a good idea to switch to agro cheques, 'because they're the next best thing.'

[Anonymous No.11401583]

>>11401459
No you missed my point and I did a horrible job explaining. For the average user you cant sell tether TUSD for actual fiat. If the stable coins are jeopardized people will have to go in a "crypto" which crypto do you think that will be?

[Anonymous No.11401611]

>>11401583

You mean the one that's not available in high enough supply to where people can cash out into it, thus leading to market panic as the rubes realize they've been duped?

That's what you mean.

And I covered why that's not gonna work already. There will be a bank run on all the shitcoins, bitcoin, and everything else, and like GOX before them, they'll freeze all transactions in panic.

[Anonymous No.11401613]

>>11401583
>No you missed my point and I did a horrible job explaining. For the average user you cant sell tether TUSD for actual fiat. If the stable coins are jeopardized people will have to go in a "crypto" which crypto do you think that will be?
They will buy BTC but they can easily take a 90% haircut on their USDT. You will see something like 1 BTC = 60k USDT

[Anonymous No.11401629]

https://twitter.com/lawmaster/status/1051577040086949888

>Tether now valued at $0.96 on Binance

[Anonymous No.11401670]

>>11401629

It's been at 92 in some places. It it dips below 90, there will be serious shockwaves. If it stays where it is, that's still very bad, but there's not gonna be a bloodbath.

Either way, the tether meme is dead. Cash it out for shitcoins if you can, or lose it all. Many exchanges are sending their tethers back to the 'treasury' already.

Disregard this at your own peril. Ask the Mt GOX whales of ancient past what they got for ignoring common sense signals of bullshit.

[Anonymous No.11401780]

>>11401670
>It's been at 92 in some places. It it dips below 90, there will be serious shockwaves.
Where do you think carnage will begin? Sub 0.90 seems likely, it will just snap and plunge 50%+ when it finally reaches breaking point. At the current rate I don't think it will survive the week.

[Anonymous No.11401881]

>>11401780

91 is significant enough to ignite a hilarious feeding frenzy. Even True Believers who are totally into it for the tech or the HODL will snap out of their brainwashed state to save what little internet money they can, tanking the price even further in the process.

But even a drop to 94 is likely to convince average reddit users to dump their tethers, only to discover that you can't - unless you want to get a new stablecoin for your old stablecoin. Pic related.

I agree. It doesn't look like it'll survive the week. If the clowns running the crypto scam pooled their limited brainpower, they could easily convince the sheep that this is really for serious just a healthy correction, but they're too dumb to do that.

My wish is that it flashdumps to sub 90s, so I can watch the whole crypto sphere burn.

[Anonymous No.11401952]

>>11401380
It will be a crypto nuclear winter
4-5 years for recovery, if at all

[Anonymous No.11401986]

Nobody brings up all the other stable coins coming out. TUSD is back 1 to 1.

[Anonymous No.11402023]

>>11401986

Because it's the only thing you're allowed to trade your meme tethers for on most platforms, like >>11401881

Exchanging one shitty 'stablecoin' for another does nothing for confidence.

[Anonymous No.11402046]

>>11401307
It will force people back into holding crypto instead. Also there are a lot of other stable coins on the line now.

[Anonymous No.11402062]

>>11402023
that's the exchanges doing that shit. If they switch which they will if they want to keep the value of the coins they are holding then they will use TUSD

[Anonymous No.11402081]

>>11401338
This. Exact same fud as when btc started crashing, not falling for it again. Do not fall for it biz, tether up or cash out. And to the whales who pay for the fud and the pajeets that are paid to fud, kill yourselves.

[Anonymous No.11402091]

>>11402062

They can't just outright switch, because they don't have enough reserves of the actual magical internet money, or are you saying they should do some more fractional reserve banking and magic out 'stablecoins' from thin air, anon senpai?

This is why they're desperately moving as much shit tether as they can back to the 'treasury,' hoping average investor faggots don't notice it's about to get really messy, but Bitfinex also doesn't have any reserves.

[Anonymous No.11402103]

>>11401611
It's the opposite of gox. Gox had no btc so the price of btc as people wanted to exit into fiat and only morons were buying a database entry of btc that weren't actually in reserve. This time it's the other way round and every cunt will be dumping tether at whatever price they have to in order to buy btc. This will cause btc to go up and usdt to eat shit.

[Anonymous No.11402110]

>>11402081
This. Look at cmc, see that tether is well within normal variation.

[Anonymous No.11402127]

>>11402046
Perfect timing for bitbay and their dynamic peg to hit the scene.

[Anonymous No.11402135]

>>11402103
>This will cause btc to go up and usdt to eat shit.
They will likely panic dump the BTC for fiat, you might see a short term BTC pump though.

[Anonymous No.11402136]

>>11401307
Until the other stable coins are out there, we need USDT to stay alive or it will kill all of crypto. When they are in place, let it die in a fire.

[Anonymous No.11402142]

>>11402091
hmm thanks for clearing that up. IT really is a ponzi scheme

[Anonymous No.11402149]

>not shorting USDT right now on Kraken

[Anonymous No.11402150]

>>11401881
not to mention it may be difficult or impossible to short bitcoin which makes it more difficult for a market to find a bottom. The only way to short will be to sell!

[Anonymous No.11402162]

>>11401881
>91 is significant enough to ignite a hilarious feeding frenzy. Even True Believers who are totally into it for the tech or the HODL will snap out of their brainwashed state to save what little internet money they can, tanking the price even further in the process.

The main thing that is being triggered right now is that biz is being targeted by a political group. And its making me want more than anything to start a war on you assholes who seem to be going along with that narrative.

There seems to be a lot of people right now who are SUDDENLY WORRIED. And we are also seeing a lot of people pushing a false narrative that this board is full of Nazis which is completely untrue. I abhor and will debate anyone who abides by unprincipled ideologies.

The combination of things going on at the same time is making me feel like its time to fight back. Not only that but its time to begin weeding out the NPCs that believe a technology like this has no value when its, in fact absolutely amazing for pissing people like you off. Which by itself is amazing. Not to mention crypto provides censorship resistant social media and automation which are both needed for the next generation technology. Video games and Social media are extremely important.

I'm getting pretty sick of the bullshit on here. And I fucking HATE bullshit.

[Anonymous No.11402170]

>>11402142

The most amazing part is that all the supposed badguy scammers, like the dudes running Binance, were in turn scammed by the OG scammer Brock Pierce, who is the mastermind behind both tether and Bitfinex.

Mark and everybody else like him did what they did because they didn't know better, and thought they were captains of industry. Brock is a rich ass pedophile, who's been running actual scams with shell accounts and secret banking partners for decades.

Bitcoiners can't even pull off long cons correctly, and get put in their place by actual criminals.

[Anonymous No.11402177]

so it's tether fud again
just like last year

[Anonymous No.11402211]

>spreading fud on a board browsed by literally AND unironically 7 people.

[Anonymous No.11402219]

>>11402211
Kekek

[Anonymous No.11402246]

>>11402211

>tfw your one active thread has lead to dozens of other threads, and some actual discussion for once.

Feels good, man. I hope you don't end up being one of the guys parading outside Binance's office asking where your money is, like so many did in 2014.

[Anonymous No.11402262]

>>11402162
Of course everyone's worried. BTC's testing the 6k floor so many times. At this rate, the likely direction is down.

Even if there are political groups trying to fud crypto, that should have minimal impact on the price. /biz/ is only a small part of the whole crypto space anyway.

[Anonymous No.11402269]

>>11402170
Pierce isn't an autonomous scammer thoigh, he's a trauma programmed mk slave. The gov has been in btc since day 1, playing out some bullshit script as they get everyone switched over to their cashless nwo honey pot like eos or such.

[Anonymous No.11402294]

>>11402269

You do know that Pierce is the primary force behind EOS as well, right?

Back in the bitcoin talk days, he said, and I quote, 'If I need money, I just make another token.'

It helps that he got so many other criminals involved, like pic related.

[Anonymous No.11402297]

>>11402262
>Of course everyone's worried. BTC's testing the 6k floor so many times. At this rate, the likely direction is down.

BTC will be fine even if it does go down more. Its probably not though. Social media and gaming which are cornerstones of modern life are the main use case (((they))) are worried about. This is an attempt to stomp out competition and its an attempt to make us all look like Richard Spencer clones.

Fuck them!

[Anonymous No.11402329]

>>11402269
>>11402294

Fundementals are all that matter. Arguing if a technology is capable of being useful by debating if they person who invented it has perfect is NPC logic. Anyone who sees the technology for what it is and how it works has full capability of deciding what it is useful for.

So this two posts are obviously based on illogical arguments. Its poisoning the well. That wont work on free thinkers.

[Anonymous No.11402344]

>>11402294
Yes that's why i mentioned eos. What i mean is brock is basically an agent for the deep state who was made that way through trauma based programming as an abused victim of hollyweird.

Eos is a pedo coin by name and association. Stan larimer is a war mongering psychopath from lockheed and northrop grumman and there's no way he has society's best interest at heart.

I just meant it's stupid to make it out like brock is a scammer just doing it for money. He's an operative for the deep state psychopaths who are hell bent on destroying everything good in the world And enslaving as many as possible.

[Anonymous No.11402346]

>>11402329
This is like literally saying that ETH will never be useful because of a twitter post by Vitalik. How can you fools possibly believe that kind of bullshit.

[Anonymous No.11402352]

>>11402103
What will happen to exchanges that hold Tether if it's value goes to 0? Binance hold 800MM+ of USDT. You think they have enough in fiat to cover for this loss? I don't think so anon. It's as bad as Mt Gox

[Anonymous No.11402356]

>>11401361
thanks for the solid kek

[Anonymous No.11402377]

>>11402352
>What will happen to exchanges that hold Tether if it's value goes to 0? Binance hold 800MM+ of USDT.

We need to be phasing out non dex exchanges anyway. As much as possible actually. So what is going on right now is character assasination in an attempt to claim that BTC has no value. Above posts show this quite effortlessly. So this tether FUD may be an attack as well. Biz is being hit by a lot of people at the same time right now.

[Anonymous No.11402380]

>>11402329

You're such a free thinker, you bought into fake money, that you then used to get fake-fake money, which you then stored on an unsecured, unregulated, shady 'exchange,' and now you're saying that the solution to inevitable capital loss is to use the fake-fake money to buy fake-fake-fake money, on the same exchange, so you can maybe cash the fake-fake-fake money into fake money, which you then hope you can turn into real money - somehow.

What happened to all the tech, the anti-bank sentiment, the trustless systems, the use of magical internet money to replace real money, and even buying drugs and guns? You guys are such a sad shadow of what bitcoiners used to be. At least their insanity was grounded in naive fantasies and idealist desires. All you guys have left now is greed and going against everything you used to preach.

[Anonymous No.11402389]

>>11402352

They have 800mm usdt, not 800m dollars worth. When tether shits itself and people can't exit into fiat they'll be buying whatever they can with their usdt which will be in majority btc. Sure you won't get the full 800m buy pressure on btc as once it hits a certain amount like -50% then you'd have to be a total spaz to sell ypur btc to buy the shit but there may still be gamblers selling their btc for 50k usdt

[Anonymous No.11402405]

>>11402170
>The most amazing part is that all the supposed badguy scammers, like the dudes running Binance, were in turn scammed by the OG scammer Brock Pierce, who is the mastermind behind both tether and Bitfinex.
He's connected to Hillary Clinton as well. Bitfinex, USDT, EOS and XRP all appear to have some connection with the Clintons.

[Anonymous No.11402429]

>>11402380
>you bought into fake money

People value things at what they want. So no money is inherently fake.

> You guys are

He came in to shit post from some other group or location.

> All you guys have left now is greed

Arguing in favor of fiat is equal to arguing in favor for the Japanese Yen or the Bitcoin any other currency.

>>11402405
> He's connected to Hillary Clinton as well.

Doesn't change the code or the use case. Its like saying hammers were invented by communists. Nobody should use hammers anymore because Stalin.

I'm debating you fuckers right now so keep it coming.

[Anonymous No.11402450]

>>11402389
You need a course in accounting. That literally 800m of assets lost. You think they got the 800m USDT for free? Nah man hey paid for it. It's a loss. Imagine your house having 0$

[Anonymous No.11402468]

>>11402377
Get off your high horses anon. Biz is dead. There is literally nobody here

[Anonymous No.11402480]

>>11402429

I can buy drugs and pay my taxes with real money.

You guys need to stop memeing about how it's not fake, and muh tech. All you have left now is literally greed.

Even the memes are focused on greed. Lambo is the ultimate dream. You mock the guy who convinced a pizza place to serve him two big ones for 10k bitcoins. You're holding your trash magical internet money like it's gold, or putting it onto centralized exchanges, that have their own pseudo-banks, that do fractional reserve banking, issue centralized, root secret 'stablecoins,' that supposedly guarantee that your lambo coins are backed by real money, only to see the banks and exchanges get 'hacked,' or 'lose' your money, or need to be bailed out by others/issue haircuts to everybody who's using them. You don't even have control over your coinz or gainz anymore. If the exchanges don't want you to cash out, you're not gonna cash out.

[Anonymous No.11402549]

>>11402468
>Get off your high horses anon. Biz is dead. There is literally nobody here

Its alive

>>11402480
> I can buy drugs and pay my taxes with real money.

Its actually easier to buy with cash. Cash is the root of all evil prove me wrong. Its best for the Mafia and cartels. Its 100% untraceable and its very difficult to track down.

> You guys need to stop memeing about how it's not fake, and muh tech.

Mother fucker what are you dong here then? Go bang some rocks together you fucking neo ludite. Technology is crystallized ideology. Its the absolute most important asset of humanity. I dare you to attempt debating further without your PC.

> All you have left now is literally greed.

All you have is a shit tier argument kek

> Even the memes are focused on greed. Lambo is the ultimate dream.

Memes can be a problem for people like you who hate computers. Do you take a similar stance against AI? How about 3d Printing? You hate that too? Literally all crypto represents is the next tier of technology. Its scary to people because they realize it effects the status quo.

The main problem you will run into is that if we dont go balls deep into AI, 3d Printing and Crypto then someone else will first. And they will get very rich and powerful. America has NO CHOICE and debate against crypto is to debate that we fall far behind the rest the world.

You are either with us or you become irrelevant.

[Anonymous No.11403043]

>>11402549
in regards to cash

you know, it's possible to split few thousands of BTC in separate wallets by 1 / 0.1 / 0.01 / etc, write down private keys and sell them without moving actual satoshis

by doing this you can transfer without using network

some oldschool and high level crimes will use this for sure, and there even will be market for "clean" / "whitelisted" UTXO

[Anonymous No.11403801]

What "code"? There's 21 block producers elected as delegates through a supposed democratic process but apathetic voting and propaganda has meant that block one controls more than the prohibited 10%. Their consitution is garbage and the collusion that will occur to enforce any violations just shows how not decentralized the shitcoin is. Keep Hoping that the pedos have made the best code because that's what the hype is saying.

[Anonymous No.11403919]

>>11402450
Kek, no they didn't, they printed the tether for free then retards fell for the tether up meme and sold their btc for a iou that's backed by nothing. When it comes out they have no usd and your usdt is worthless the only way you can exit your usdt position is to hope you can find a retard who buys the tether is solvent meme and sells their crypto for usdt for a "steal". Usdt bagholders are gonna get rinsed hard.


>>11402480
He didn't convince a pizza shop to accept his btc, he convinced a bitcointalk user to buy him pizza on their credit card in exchange for 10 000btc.

That was the first valuation of btc through a consensus between two people exchanging value which is exactly how all currencies/units of exchange start.. Through user consensus.