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14769883 No.14769883 [Reply] [Original]

So when the department of justice shuts down tether, how low is BTC going to go? 3000? 1000?

>> No.14769918

>>14769883
Sub 1k. Every one will get the bottom they always wNted

>> No.14769933

>>14769883
Whatever, they'll just buy USDC or TUSD.

>> No.14769934

>>14769883
BTC and alts will spike because everyone will try offloading their tethers in any way possible

>> No.14769958
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14769958

>>14769883
1400 but ultimately dipping to tripple digis

>> No.14769960
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14769960

>>14769933
like 10x less volume but ok

>>14769883
only god know

>> No.14769961

>>14769934
Lol. This will be a 10% bump at best before the holocaust

>> No.14769967

I have it on good authority that the bottom will be 87 dollars.

>> No.14769969

>>14769883
$0, the only reason why BitCoin has value is Tether. Before 2011, there was no Tether and hence, BitCoin was free.

>> No.14769977

>>14769918
Fingers crossed

>>14769934
People will want to buy bitcoin with worthless tether, sure. But who’s going to sell bitcoin for worthless tether? Most likely exchanges get mired in a legal mess and have to shut down for a while.

>> No.14769978

>>14769967
Dude that's ridiculously close to being true. Who told you?

>> No.14769984

>>14769934
>implying -anyone- will take it

>> No.14769989

>>14769978
My TA says 556

>> No.14769995

>>14769977
>But who’s going to sell bitcoin for worthless tether?
A lot of Federalists got filthy rich buying deprecated Continentals off of bag-holding veterans who thought they would never bee revalued

>> No.14769998

>>14769934
>alt will pump as everybody offloads their tether
nah son, BTC just pumped because all the tether just got offloaded on YOU and every other bag holder of Tether *and* BTC

dont you see whats happening as we shitpost? Bitch is about to crash. Nothing but ETH and LINK will be left.

>> No.14770000

>>14769883
3000 what?
how would you measure it in the first place without tether?

>> No.14770003

Any high IQ chad fundamentals traders got shorts in?

>> No.14770020

>>14769934
Uh two problems with that
>Feds will likely freeze tethers assets meaning no tether can be transferred
>nobody is going to want to sell their Bitcoin for tether.

>> No.14770026

>>14770000
Trumpcoins

>> No.14770047

>>14770020
Can the usgov actually freeze tether? Is it that centralized? I don’t even understand how it works desu, I’m just a LAPRer.

>> No.14770066

>>14770026
>trumpcoins
what we need is to replace the Federal Reserve with a United States National Bank operating on a gold backed blockchain.

Easy peasy.

>> No.14770077

>>14769978
Asuka, naturally. Everyone assumed it was a typo, but I don't assume such things.

>> No.14770082

>>14769933
>>14769934
Tether will be instantly worthless... not a single person will be able to buy or sell it if it got shut down.... if it did happen we go to seriously low numbers like €300- €800 for awhile then we bobble around that until something revolutionary happens with one of the alts

>> No.14770108

>>14770047
It's a little known fact, but the US government is capable of freezing and confiscating Bitcoin too.

>> No.14770135

>>14770108
*BitCoin

>> No.14770153

>>14770135
Well they cant freeze bitcoin itself so what are tou talking about

>> No.14770166
File: 1.94 MB, 254x320, 14941919919494.gif [View same] [iqdb] [saucenao] [google]
14770166

>>14770082
you think peoples will get the news instantly ?
this will be a shit show, I can already see some moron with BTC sell order for 100K USDT getting filled

>> No.14770174

>>14770108
>>14770135
>t. doesn’t understand how bitcoin tech works on the most basic level

>> No.14770183

>>14769989
TA doesn't mean shit for long term movement. It's going just under $100, I guarantee it.
>>14770077
Oh, that's boring.

>> No.14770206

>>14769883

Are you really that dumb? In such a case, everyone would sell Tether for BTC and cause BTC to hit new all time high

Stupid fucks

>> No.14770220

>>14770183
Sorry to disappoint, I can't do TA for beans. All I do is look at the 400 day MA and use that to guide purchases.

>> No.14770222

>>14770206
Who’s buying the worthless tether, brainlet?

>> No.14770226

>>14770206
> BTC to hit new all time high in USDT pair*

>> No.14770234
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14770234

>>14770206

>> No.14770240

>>14770183
>under $100
Look, I want to believe but I’m not there yet. Can you give the the condensed redpill?

>> No.14770243

>>14769883
1000000

>> No.14770264

>>14770174
He is actually correct that the US government could freeze Bitcoin wallets if Bitcoin got 51% attacked. Wouldn't surprise me if the US government had enough nuclear energy to do that.

>> No.14770284

>>14770264
It’s not about energy retard, they would also need to procure a shit ton of sha256 ASICS our of thin air

>> No.14770313
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14770313

>>14770220
Holy shit dude, you actually just blew my mind. I never gave a shit about the Asuka prediction until now. You pointed out that "typo" so I just took another look at it and Europeans use commas where periods should be. So it's not $87, it's €87, which just so happens to convert to just under $100 where I know its going to crash to.
>>14770240
'no'

>> No.14770322

>>14770284
With that said, I guess it’s not inconceivable that the US gov would try to 51% attack bitcoin, since they have the most to lose if the dollar is displaced as the global reserve currency. I guess we have to count on their tactical incompetence until it’s too late for them.

>> No.14770337

>>14769883
what in the fuck is tether

>> No.14770346

>>14770313
Based bear bro

>> No.14770363

>>14770284
Do you really think the US government is incapable of designing and procuring their own ASICS? You know Los Alamos exists right? It'd probably cost about 5-15 billion to design and manufacture their own based on current hashrate and antminer unit cost, that's barely anything when it comes to the defense budget.

>> No.14770371

>>14770322
Reserve status was always a political benefit, not an economic one. American economy booms when USD loses reserve status. Imagine a world where the rest of the planet isn't allowed to endlessly buy t-bills to devalue their currency against the dollar to accrue market share.

>> No.14770372

>>14770337
Stablecoin pegged to US dollar. Tether creators are in legal trouble in New York for alleged fraud. It seems like they’re printing coins without backing them in real dollars to some extent.

>> No.14770377

>>14770313
Yeah m8 btc will crash to 100 dollars. Sure. Do you know how many people are waiting to buy at low 3000s?

>> No.14770404

>>14770372
>without backing them in real dollars to some extent.

they just "accidentally" pulled 5B out of their ass how much of the rest do you really think is backed 25% would already be impressive imo

>> No.14770411

>>14770313
>Holy shit dude, you actually just blew my mind. I never gave a shit about the Asuka prediction until now. You pointed out that "typo" so I just took another look at it and Europeans use commas where periods should be. So it's not $87, it's €87, which just so happens to convert to just under $100 where I know its going to crash to.

Glad I could give you a new perspective, anon.

>> No.14770424

>>14770372
they co-mingled assets which is a problem especially if it includes btc. but the real kicker is they had to do more of that because the confiscation of $100 million from their account.

>> No.14770427

>>14769989
>>14770240
I also just realized your TA is actually pretty fucking accurate in a way. There's going to be two crashes pretty close. The first one isn't going to be as bad as the second. I don't give a shit about the first one because the $100 bottom is right around the corner, but I just realized that $556 is right in the ballpark of where the first one is going to bottom out at. I'm really not sure whether its going to be above or below that, though. Somewhere under $1k and above $400.
>>14770411
Thanks.

>> No.14770433

>>14770404
Tether says it’s 74% backed, for what that’s worth, but we’ll probably know for sure in a few weeks

https://www.google.com/amp/s/www.coindesk.com/tether-lawyer-confirms-stablecoin-74-percent-backed-by-cash-and-equivalents%3famp

>> No.14770436

>>14770404
you could say that for a moment tether was only 32% backed

>> No.14770444

>>14770372
The problem is that if it was a mistake to print 5B tether based on some dev fatfingering a command, then there are obviously very little protocols and controls that prevent Tether from issuing tethers at will with no backing.

It looks really bad. They're basically acting as an unregulated wildcat bank

https://en.m.wikipedia.org/wiki/Wildcat_banking

>The traditional view of wildcat banks describes them as distributing occasionally worthless currency backed by questionable security (such as mortgages and bonds).

>> No.14770453

>>14770433
they printed over 1B more since that news came out

>> No.14770464

>>14770424
>the confiscation of $100 million
$800 million and their co-mingled 'assets' includes such cancer as 'loans' from Tether to Bitfinex (ie themselves to themselves) to cover these losses. tldr, total shitshow

>> No.14770515

So why isn’t btc tanking already in anticipation? Just greed and delusion?

>> No.14770522

>>14770066
Jews will always start fractional reserve-ing as soon as you issue something 'xyz-backed'. Just should be a blockchain with a fixed supply like a streamlined form of bitcoin.

>> No.14770524

>>14770464
yeah sorry my bad but the fact that they are not fully backed because of that confiscation is quiet ironic.

>> No.14770535

>>14770522
no stablecoin can be fixed in supply

>> No.14770541

Almost everyone in this thread is a fuder .
Tether issue already resolved by printing Unus Sed Leo tokens.

>> No.14770544

>>14769883
this idiot never has heard of dai or USDC. Tether can't hurt BTC

>> No.14770563

>>14770515
>Just greed and delusion?
>Just
those are strong forces, it's like a game of musical chairs everyone hope to be seated when the music stop but until then they'll keep dancing

>> No.14770585
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14770585

>>14770541
did you missed what just happen ?

>> No.14770591

>>14770427
You got a timeframe on the collapse, or did Asuka nail that one as well?

>> No.14770593
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14770593

>>14770544

>> No.14770615

>>14770535
At some point the value should stabilize naturally right? The fiat USD doesn't have its value pegged to anything but it's stable enough to use in the short term anyway. Bitcoin's volatility comes from it being used much more to speculate on price rather than to pay for things, to my understanding anyway.

>> No.14770617

>>14770541
>>14770544
The problem with tether isn’t that it can’t be replaced; stable coins are brainlet shit.

The problem is that tether becoming worthless will be a systemic shock. Exchanges will have to shut down for legal reasons or because insolvency. It’ll also discredit crypto for a while like gox did.

>> No.14770630

>>14770234
>>14770222
>>14770226

Fuck u. Tether won't be worthless, it can still be traded on exchanges regardless of being shut down

We don't even know if they have the assets right now. What's the difference later? Suck it

BTC goes to new ATH if Tether collapses. Bet my nuts and titties

>> No.14770654

>>14770615
bitcoins value will stabilize at $10 billion apiece too

>> No.14770657
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14770657

>>14770544
do you see this
tether is literally 10X bigger than all other stables coins combined, there's so real buyer in this market if tether goes the whole market crash

>>14770630
i'm gonna enjoy seeing retard like you meltdown

>> No.14770662

>>14770563
>>14770515
Yeah. An analogy would be to think of 2008. People knew things were fucked when Fannie Mae and Freddie Mac seemed like they were in trouble and there were rumours of the government taking over during that summer but it took the collapse of Lehman Brothers in september for the music to really "stop"

>> No.14770665

>>14770630
I sincerely hope you go ahead and long at 10x leverage then. Good luck :^)

>> No.14770674

>>14770630
>Fuck u. Tether won't be worthless, it can still be traded on exchanges regardless of being shut down
How, idiot? They are a centrally-validated ledger. If the US government shuts down the validators, how the fuck do transactions and balance transfers get accounted for?

>> No.14770683

>>14770166
Pretty cringe pic there.

>> No.14770748

>>14770654
We might as well just use bitcoin instead of a US-created currency. The only thing is theres no way to pay with 'cash' using blockchain right now. For example in a bar or the countryside without internet access or something. There should be some physical way to pay for things as well sans electricity.

>> No.14770770

>>14770615
Bitcoin's price volatility comes from thin liquidity. It doesn't cost much to bart the market up and down and make a fuckton off of leveraged derivatives.

Currency like USD has much much thicker order books so it's harder to manipulate.

>> No.14770777
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14770777

>>14770674
how is tether not just counterfeit money anyway ?
like they can make fake account give those fake account 100M USDT buy BTC then sell those BTC in fiat pair, the BTC price doesn't even need need to move and they just made 100M$ out of thin air
there is no way the US authorities don't have jurisdiction over this

>> No.14770781

>>14770591
Late October 2019 should be the bottom. Which also has a pretty weird connection to the Asuka prediction. He put the year on all dates except the one with the 87,00 "typo". That one just says November (and people would obviously assume he meant November 2020, if they were all in chronological order). And considering that the bottom is going to be in late October, it may very well bleed into early November.

>> No.14770804

>>14770770
USD doesn't determine the bitcoin's orderbook liquidity... you're just saying that there are a lot of dollars that can be used to buy bitcoins which is true. BTC 1 million 2021.

>> No.14770816

>>14770781
Excellent, this all fits in very well with the whole ChainLINK usurpation theory.

>> No.14770824

If something this big happens it might trigger some kind of iron curtain black market where crypto is traded in regions under china/russian spheres of influence. Basically we will be free to virtually deflect to russia while living as neets in the dieing west. We can then if we choose to move to a lawless tradezone and fund mercenary armies, trade arms and humans as well as fund genocide games.

>> No.14770899

Someone post the Asuka prophecy here please.

>> No.14770924

>are you guys into conpiracy theories?
there is no central bank for Bitcoin. you cannot print BTC. so these tether tricksters came up with the great idea to declare a stablecoin which is only partially backed (just like banks do). they buy Bitcoin with it and inflate BTC price with it for profit. Other people with power have noticed Tether and want control over it. These big players will sue Tether until it is dead. USDC is backed by Goldman Sachs and might be the future

>> No.14770930
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14770930

>>14770899

>> No.14770978

>>14770777
it is (in this case) perhaps best described as a promissory note, one the exchanges have agreed to accept. The exchanges reasons for continuing to accept this trash are simple, it helps prevent customers switching to dollars and thus removing deposits rightfully belonging to the exchange, just, they haven't yet got round to manipulating the customer out of them till now. And speaking of which, Tether is also great for market manipulation. Where it falls over, no-one is quite sure on what conditions they are accepting this promissory note, as it basically promises nothing. They used to claim it was 1:1 backed, they have (legally, wisely) stopped doing so. But all that aside, they would still need to have been operating in NYC jurisdiction area for NY to go after them - dumbly, they managed even that

>> No.14771027

>>14770585
This was a typo obviously.

>> No.14771156

>>14770930
Thanks.

>> No.14771178

>>14770363
still doesn't make that first dumbass statement true. they can steal people's private keys, but not "freeze tether'

>> No.14771255

Search the price before Tether creation and you will have your answer.

> $600 in July 2014

>> No.14771281
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14771281

>>14771255
>Price of a commodity has increased compared to 5 years ago.

>> No.14771325
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14771325

>>14771255
Oh man can’t wait

>> No.14771328

>>14770674
Transactions on exchanges don't all go on the blockchain idiot. Why would validators be needed?

>> No.14771337

>>14771255
Yeah, if teth smashes under 2k is probably a guarantee. Maybe under 1k. Even with tether it hit 3k so without it and market in panic it could go crazy low

>> No.14771360

>>14771255
Can you imagine how many here on /biz/ alone that would want to an hero??

>> No.14771380

>>14770674
no they aren't, omni is a token layer on btc network (like xcp) and not centralized

>> No.14771409

>>14771360
pink fields will resurrect Bizonacci again

>> No.14771434

>>14770541
>Bitfinex and Tether (USDT) in Trouble: NYAG Calls LEO $1B IEO a Securities Offering
LEO only got them into more hot water

>> No.14771472
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14771472

>>14769934

Yeah ill sell you my 10 BTC for worthless USDT.

>Great Thinkin!

>> No.14771538
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14771538

>>14771472
>implying bitcone wont crash with tether

>> No.14771548

>>14771281
$1000 in March 2017 with a lot of new money coming into crypto. Do you need more expanations?

>> No.14771567

>>14771538
Everything will crash. It would crush every single crypto with the exception of stable coins.

>> No.14771624
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14771624

>>14769934
this, actually. i used to think Tether will dump BTC but think about it.

>>14769883
>>14769918
>>14769958
if Tether becomes valued at 0 over night, no BTC holder will want it.
you can't buy BTC with tether when it becomes worthless.
BTC price won't be affected, if anything it will go up.

>> No.14771639
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14771639

>>14771624

>> No.14771666
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14771666

>>14771639
would you sell your BTC for something that is worthless?

>> No.14771670
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14771670

>>14769883
It's going to be a tough time when tether gets shut down, but I think it's important to cleanse the market from bad actors. Btc will drop hard but it won't be a long drop, I hope we will start using Reserve protocol that is decentralized, trustless and censorship resistant, all the features that Tether is missing.

>> No.14771690

>>14771666
First, what a waste of digits....

Second, if Tether is actually what is propping up the price of BTC, what is BTC actually worth?

>> No.14771694

>>14771624


But Tether is causing false liquidity and buying pressure right now heavily inflating the price of bitcoin.

>> No.14771705

>>14771690
Exactly, impending regulation and tether collapse will cause billions to be pulled from the market.

>> No.14771729

>>14769969
Bitcoin was under 1k, which is its true fundmanetal value

>> No.14771751

>>14771729
It’s costs more than $1k in electricity and hardware to mine 1 BTC. Your fud BTFO.

>> No.14771758
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14771758

>>14771690
sure tether was used to pump BTC but all these people that have sold BTC for tether (making BTC price rise) won't cause any harm to BTC when their tether tokens become worthless.

>>14771694
sure things will change, won't be as much trading volume after tether goes away. but the price won't dump when tether becomes worth 0.

only way tether can dump BTC is if a lot of people find out that tether will become worthless tomorrow and start buying BTC with tether from unaware sellers who will lose all their money tomorrow. if tether has already gone to 0 (it happens instantly) it can't harm BTC's price, which is already locked in.

>> No.14771772

>>14771705
The unfortunate thing if it plays out with Tether getting shut down is the collateral damage it will cause. Pretty much a guaranteed market wide crash followed by a very painful price discovery. Not sure it would shake out how everyone would think it would in the end either.

>> No.14771775

>>1477175
Miners adjust or go broke

>> No.14771786
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14771786

>>14771690
Demand of BTC in FIAT gateways will set the value.

This image is from May with new money coming to crypto

>> No.14771809

>>14771758
The biggest holders of tether are the exchanges.
Even if every person sold their tether for bitcoin, a tether collapse would destroy the exchanges

>> No.14771822

>>14771690
Tether is creating literal usd in crypto format. They have nothing to really back it up, if they ever even did at any point. As soon as the market start to panic about it everything will crash because everyone will want out of the market. Sure some stable coins will be around and might pump even but it will be a fucking firesale of everything. If no one wants something the price drops

>> No.14771849
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14771849

>>14771809
i'd be very surprised if any exchanges large enough to make a difference is holding any substantial amount of tether. they just have a bit to make trading go smoother. they know tether isn't real USD.

>> No.14771860

>>14771849
This is either bait, or you are just too fucking stupid to bother with

>> No.14771870

>>14771849
?? Binance has 80% of its trade volume in tether.
Even if they didnt hold the tether they hold, it would still rekt their volume

>> No.14771871

>>14771860
i'm serious.

>> No.14771872

>>14771751
the fuck is this, Chink Miners Welfare & Wellbeing Society ? Mining cost is irrelevant, BTC is worth whatever someone will pay for it. And minus the fake Tether capital, that will be significantly less than now. And fuck the profitability or otherwise of mining. The market would regulate itself without all Tethers fake garbage

>> No.14771899
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14771899

>>14771870
why does it matter to the market place if the merchant's token become worthless?

any percentage cut they get from a tether sale they get rid off very quickly

>> No.14771904

>>14770978
There is no exchange that operates in NYC that has tether

>> No.14771906

>>14771666
No I'd cash it out for actual USD and run for the exits because tether being worthless suggests that there was little actual demand for Bitcoin and the tether pumps were all fantasy.

>> No.14771933

>>14771904
They had customers in NYC
They were advising NYC customers how to bypass the ban
They had fucking operational bank accounts in NYC UP UNTIL LAST WEEK - It was the bank closed on them
tldr, they jurisdictioned, they screwed

>> No.14771934

Lets say for example there are 100 Bitcoin, at $1 a piece and 100 people with $1 want to buy it

Price = 100 bitcoin/100 people = $1 per bitcoin

Now lets say you keep those 100 people with their $1, but add $1000 of False purchasing power (Phantom Money) to the market.

Theres still 100 bitcoin, but $1100 ($100 organic + $1000 Phantom Money) worth of buying power

Price = ($100+$1000)/100 = $11 per bitcoin

Remove the Phantom Money and you remove a large source of buying pressure from the market.

>> No.14771940

>>14771906
It’s been a fantasy since January 2018, but we managed to make some real money from the public streaming in. That pyramid has now collapsed and we are in a second shakier pyramid. I sold at $12500 for real money and will be watching how this shit implodes with interest

>> No.14771949

>>14771906
This!

>> No.14771959

>>14771933
oh shit is all of that in the case documents? I dont see what the NYAG can do beyond getting ether banned from the US anyway

>> No.14771969

>>14771178
No, if they have control of the Bitcoin network they can't steal your private key. They can double spend. They can refuse to validate your transactions and include them in the longest chain (aka "freeze" your bitcoin wallet) but they can't actually take your private keys.

Why do so few people understand how cryptocurrency actually works on /biz/?

>> No.14771977

>>14771899
Get rid of tether? To whom

>> No.14771985

>>14771959
They can go after shits like Novogratz and Galaxy Digital who circumvented the law when they provided the initial liquidity for the Tether pumps. These guys can then be squeezed to nail the finex guys. Reggie Fowler is already in custody. With solid evidence, it’ll soon be very hard for the finex guys to find a place for their money.

>> No.14772014

>>14771969
Well they can take your keys, but they have to catch you in person or haxx0r your pc

>> No.14772067

>>14771959
Related bank accounts can be shut down etc.
Tether doesnt die outright from nyag, but it can be crippled in such a way they stop with the printing or forced to burn tethers.
Look what happened in nov last year, they burned a lot of tethers because of legal problems and then btc tanked 50% from lack of liquidity

>> No.14772121
File: 45 KB, 342x219, mat lock.jpg [View same] [iqdb] [saucenao] [google]
14772121

>>14771906
ok sure, if people panic sell BTC simply because they lose faith in crypto when tether goes under then it crash

>>14771977
anyone that want to buy tether for whatever other crypto. benefit of the markets is that they can just have themselves be the seller.

>> No.14772156

From a legal perspective, tether isn't doing anything illegal. It's essentially USD Monopoly money.

>> No.14772189

>>14772121
Well you could still believe in crypto as a concept but until you figure out how much of the demand was fake from tethers and how much was real it would be very hard to assess the actual true value/price at that moment! Just makes prudent financial sense to sell if tether gets v& by the feds even if you believe in crypto long term.

>> No.14772191

>>14771849
You have to be retarded. Every exchange that doesn't use direct USD pairings are going to get instantly nuked. That means places like Binance are instantly dead once tether collapses. The only exchanges that will still exist are places Coinbase and Gemini which wont have enough volume together to keep the market up.

>> No.14772206

>>14772121
Then they have to guarantee the tether usd backing. Nobody would do that themselves.

>> No.14772210

>>14772014
I think he meant they can't steal your keys through 51% alone.

>> No.14772261
File: 2 KB, 160x160, george26.png [View same] [iqdb] [saucenao] [google]
14772261

>>14772191
ok

>>14772156
imagine if i started printing IOU papers and hand them out, guaranteeing that they are worth 1 USD each but you can't actually look in my bank vault and it's super hard to exchange the papers for USD (tether's terms are really bad, impossible to actually redeem your tokens).

the gov would squash my money printing operation, which is exactly what tether is doing but they dance around with strange terms. you aren't even allowed to own tether if you are a U.S. person according to their own terms. that's a huge red flag.

i remember reading about some guy that had a lot of silver and started making notes backed by his silver, and it actually got traction. the government crushed his little business.

>>14772206
just pretend they aren't selling it themselves. maybe they don't do everything fully legal, it's not like officials have access to their foreign servers

>> No.14772294

Imagine unironically sitting on tether like a spooked faggot while other people make money.

>> No.14772300

>>14772261
The Liberty Dollar
https://en.wikipedia.org/wiki/Liberty_dollar_(private_currency)
SPOILER: DIDNT END WELL

>> No.14772306

>>14772191
Why would binance instantly get nuked

>> No.14772308
File: 405 KB, 1124x1338, 1557355667996.png [View same] [iqdb] [saucenao] [google]
14772308

Whatever Asuka prophet says for the time period.

>> No.14772313

>>14772261
>just pretend they arent selling it
Do you know how an exchange listing works?

>> No.14772317

>>14769933
I don't get why people don't just stop using Tether when there are safer alternatives like DAI and USDC

>> No.14772325
File: 582 KB, 812x634, 1473985046690.png [View same] [iqdb] [saucenao] [google]
14772325

>>14769989
Holy fuck based ID, you're gonna make it

>> No.14772330

>>14772306
90% of their volume is USDT based trade pairings, that's why.

>> No.14772331
File: 1.69 MB, 480x239, finger.gif [View same] [iqdb] [saucenao] [google]
14772331

>>14772313
not really, no

>> No.14772377

>>14772261
Like Monopoly money gift cards? Or maybe Monopoly meal vouchers? Monopoly money coupons? Or wait, what about Monopoly money rebate checks? Where I work people get paid off this way on a daily basis.

>> No.14772430

>>14770748
A company can issue bitcoin gift cards. Only scratch off the private key/QR code on the back when you're ready to use it.

>> No.14772436
File: 155 KB, 1400x1050, penny.jpg [View same] [iqdb] [saucenao] [google]
14772436

>>14772377
dunno what your point is with this text, i assume it's some form of joke i don't get

>> No.14772448

>>14772430
And these giftcards come in different amount of satoshis. So we just use the gift cards as currency off chain.

>> No.14772466

>>14770777
>how is USD not just counterfeit money anyway ?

>> No.14772488

>>14769998
0xBitcoin is the ideal cryptocurrency. Doesnt require miners for security and unlike bitcoin, it can interact with other erc20 tokens and smart contracts. Tx fees remain low no matter what because of that. Ethereum fud makes me chuckle. Even tether is an erc20. Chainlink is an erc20. Most bags being held are erc20 tokens.
Why cant biz admit a pure mined token backed by pow mechanics on ethereum is actual a great idea? Wait when sharding and PoS is operational.

>> No.14772570

>>14770541
You are LITERALLY retarded as fuck

>> No.14772588

>>14771872
>Mining cost is irrelevant, BTC is worth whatever someone will pay for it.
Retard alert.

>BTC no longer profitable to mine
>miners leave
>less secure
>51% attack more likely
>BTC loses its track record of security

>> No.14772613

>>14770082
retard

>> No.14772615

>>14772588
>BTC no longer profitable to mine
>miners leave
>less secure
>51% attack more likely
>BTC loses its track record of security
>they just want ME TO PAY MONEY to prevent this and in exchange I get nothing

>> No.14772681

>>14772488
>Even tether is an erc20.
Omni

>> No.14772810

how does one sell BTC if they can't trade for Tether?

>> No.14772833

>>14770377
This. I wasn’t in crypto for the big bull run but I got in right at $3500 or so.

>> No.14772835

>>14772810
Use a reputable exchange that uses actual USD pairings.

>> No.14772961

>misinterpreting a prediction wrongly on purpose

>> No.14772999

>>14770541
How would you explain the five billion tether just printed then? checkmate atheist

>> No.14773022

Also why is it that american leaders are so against Crypto but almost every other country is in some way supportive. Even planning to launch their own Crypto currencies?

>> No.14773113

>>14769933
Notice this anon didnt mention DAI that because DAI users have an average IQ of 200 and know about Blockstream and BTC

>> No.14773369

>>14770264
>>14770363

> Nuclear energy
> Los Alamos

I'd like to take a moment from the topic at hand to highlight this guy - who thinks they're mining bitcoin at Los Alamos with a supercollider

>> No.14773549

>>14773369

Posts like these are the only reason I'm here.

>> No.14773652
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14773652

>>14773369

>> No.14773683

>>14773549
Biz is being astroturfed by us gov

heads up

>> No.14773701

>>14773022
Because they are panicking due to the otocash cult actually gaining traction

>> No.14773740

>>14772588
youre basically saying bitcoin is worthless then

>> No.14773755

>>14773369
It’s funny how some people think

>> No.14773766

Is anyone putting in a short tho? Where’s your skin in the game?

>> No.14774466
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14774466

It doesn't matter if Tether isn't 100% backed through the concept of fractional reserve. Banks only need to keep 10% onhand, Tether at 70% is doing pretty well.

>> No.14774494

>>14774466
Fractional reserve banking is exactly what we are supposed to be getting away from you retard. If we allow tether to play their shitty games, then bitcoin because just as bullshit as fiat and the current banks. Tether is literally trying to act as a central bank right now. God, you people are the whole reason why bitcoin is going to get destroyed.

>> No.14774497

>>14774466
bitfinex literally almost went bankrupt and had to launch a new imaginary shittoken to re-stabilize. The only reason they didn't bust is because other exchanges were scared by the domino effect and immediately fronted them hundreds of millions in cash

>> No.14774510

>>14774494
>>14774497
I don't really know shit about tether and I'm learning as I go rn anons. If the NYAG finds Tether guilty of fraud, what are the consequences? They seem to be incorporated in Hong Kong. Would they be prohibited from doing business with people and companies in New York state?

>> No.14774521

>>14774510
it could be anything

>> No.14774533
File: 251 KB, 931x815, 1563087846331.jpg [View same] [iqdb] [saucenao] [google]
14774533

Confirmed- This will be the real gem when BTC crashes.

>> No.14774553

>>14774521
It couldn't be *anything*, NYAG couldn't infiltrate the Tether headquarters and blow up their shit. I'm trying to determine the likelihood that a guilty verdict influences the market.
>fact: a 2018 statement by Tether said they had and always will have enough fiat reserve to back up outstanding USDT completely
>fact: a 2019 court filing said they have 74% backing but this is okay guys because banks only have to do 10
clearly backpedaling but what's the worst that NYAG could do? The news is out that Tether isn't backed 1:1, and BTC volume hasn't crashed yet. Are we expecting a guilty verdict to actually do something substantial?

>> No.14774606

>>14774553
yea it could be anything, from absolutely nothing changing, to tether and bitfinex getting shut the fuck down

>> No.14774636
File: 22 KB, 805x104, Screenshot_20190714_041801.png [View same] [iqdb] [saucenao] [google]
14774636

>>14774606
>tether and bitfinex getting shut the fuck down
How is the New York AG going to shut down a Hong Kong company?
Apparently Tether and Bitfinex aren't allowed to operate in New York. What else does the New York court actually have the power to do? Imagine they fine the parent company iFinex. What consequence does iFinex face if they don't pay the fine? Are they going to prohibit them from doing business in New York? They already did that.

>> No.14774639
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14774639

>>14774553
>and BTC volume hasn't crashed yet.
because they literally printed 1B USDT since the 75% news came out, look at the market cap
they are fucked and they pumped the market to get out

>> No.14774642

>>14769883
will they shutdown USDC too?

>> No.14774652

>>14774636
Don’t let logic get in the way of a good ol tether fud. Look at these moron bears cumming at the idea of btc tanking in the hopes that their shitcoin bags moon.

>> No.14774707

>>14774636
block their bank accounts? summon and hold their executives?
these are usual things for courts to do, target the people and the money.

>> No.14774719

>>14774652
They literally made up 5 billion coins while the market was crashing and it magically bounced back up. Then once they were getting ass blasted for it, they backtracked and said it was all a mistake and burned it. Surprise surprised, the fucking market stopped pumping and started going down again.

ITS NOT FUD WHEN THE MANIPULATION IS OBVIOUS.

>> No.14774722

Considering the price is still 1.00 at 70% backing the price and the reserves are uncorrelated so when they seize their bank accounts the tokens will still hold 1.00 due to Bitfinex being unaffected and the amount of wash trading they can do to preserve the price.

>> No.14774832

>>14774652
you sound like a fucking boomer in 2007
> the housing market will never crash this is just fud, I'm buying more deustch bank stock right now

>> No.14774867
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14774867

>>14774832
It's not his fault. Throughout BTC's history, it has had its share of FUDs both true and ridiculous, and many people fell for the "btc is invincible" meme. It's not.
Mtgox was fudded to hell and back and when it turned out to be true the market went into decline for fucking YEARS. But with this run, many people are stuck in the "btc will always go up no matter what" mindset, forgetting the real possibility that btc might turn out to be a failed experiment. It is hubris of the highest degree.

>> No.14775447

>>14771694
If tether is worth 0 overnight, it will only make the BTC worth more because the money you injected into the cryptomarket will never be cashed out

>> No.14775449

>>14772588
miners are not that quick to jump ship as proven in the past. they can mine btc at a loss seemingly for multiple reasons among them futures markets allow them to hedge against periods of unprofitably.

>> No.14775460
File: 73 KB, 590x366, jy1zqqgb_1w1oj52_pbla1m.png [View same] [iqdb] [saucenao] [google]
14775460

crypto is going to 0 soon

>> No.14775463
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14775463

>>14769933
>>14769989
>Jeb Go Rap

>> No.14775466

>>14774867
well btc didn't die with gox did it? it is invincible. doesn't mean we can't visit $1000 again. it means btc will come out stronger.

>> No.14775482

>>14775460
>this time i will bring my own kneepads
what did he mean by this?

>> No.14775515

>>14772681
well actually it is also on the eth chain

>> No.14775549

>>14770313
No. The Asuka prediction says: this is a $1.5tn market cap. $87,000 x 17,000,000 is roughly $1.5tn

>> No.14775602

>>14775482
He had to rent them from bibi

>> No.14775648

>>14775482
you have to go back

>> No.14775661

>>14769989
based, show me that TA please

>> No.14775678

Friendly reminder. If alts dont recover, we will have another big drop in Bitcoin soon (people exit all markets).

Not FUD. $8k or $3k is now a possibility

>> No.14775684

>>14769989
YO
MY NAME IS JEB AND I'M TUFF ENOUGH
ROUGH ENOUGH

KAMALA AIN'T A PORKER BUT SHE GRUFF ENOUGH

>> No.14775783
File: 94 KB, 1215x1247, ytdytytf.png [View same] [iqdb] [saucenao] [google]
14775783

>>14775678
the old 2017 alts need a purge, no way this market can move up with all that dead wight

>> No.14775791

>>14775783
weight*

>> No.14775892

>>14775783
Right but I writing about legit alts. Shitcoins should drop another 99%

>> No.14775935

>>14769967
Thats what ETH's price will dip right below to according to muh tried and true gan box extensions.

>> No.14776021

>>14775892
>legit alts.
anon, I ...

>> No.14776049

>>14771959
>I dont see what the NYAG can do beyond getting ether banned from the US anyway

Enforcement[edit]
Civilly, the attorney general may bring an action under the act to obtain preliminary or permanent injunctive relief against defendant selling or offering to sell securities in New York.[2] Violation of a Martin Act injunction is a misdemeanor, punishable by a cumulative civil penalty of $3,000 per violation.[2]

Criminally, the attorney general may assume a prosecutorial rule to punish both misdemeanors and felonies. Misdemeanors are punishable by a fine of up to $500 or imprisonment of up to one year, or both.[2] Felonies carry a penalty of up to four years of imprisonment.[2]

>> No.14776081

>>14769883
$1,280.

Buy $OTO for a hedge.

>> No.14776129

>>14776021

chainlink and eth are the only legit alts.

>> No.14776150

>>14775892
Legit alts lol.Everything in this space is utter shit, EVERYTHING.if you have not learned that by now then you are beyond saving.its just an excuse to gamble on something.

>> No.14776321

>>14770654
Don't tease us like that.

>> No.14777140

>>14770824
Russia wants to hand crypto, son.