Is cryptocurrency decentralized?

[Anonymous No.15039743]

I'm sure the more optimistic among you have a ready made answer for the above question. Yet, I'm certain that you all have yet to answer it in a total fashion.

I also know that Tether has been discussed to no end on this board, and yet for some reason, the conversation about it doesn't seem to resonate throughout the ecology of cryptocurrency. Why is that? As I look at the "bitcoin" Google search history, past archived conversations about Tether, Youtubers criticizing it before and after the crash of 2017 and even now, and the recent issues with Bitfinex, I cannot help but wonder why the overall community is so calm.

Are people simply knowing that it's an incoming train wreck, but pretending everything is okay? An anon last night mentioned that Tether was not a Ponzi scheme, nor was it manipulating anything. Except, he was talking about it as if it's just a normal presence in the ecology of cryptocurrency. Is that really all? So if you're a resident of Florida, the crocodiles are just a normal part of the ecology, but they can fuck you up if you're not careful. Is it the same with Tether?

I find that hard to believe, and have yet to see an argument that accounts for the close movements of Tether with Bitcoin in recent history. If this is merely a tool for Chinese traders, does that not affect the rest of the crypto community? I feel that the entire ecology is abstracted out of the equation when only certain parties are discussed.

If Tether does manipulate, then the entire ecology is at risk of failure, and lasting failure.

[Anonymous No.15039749]

>>15039743
All moon predictions are predicated upon 2017, which if it was propped up by Tether, is ultimately meaningless unless Tether continues to survive. And since Tether is now going to be embedded into Blockstream, it makes its presence in the entire ecology that much more anchored. When an implosion happens in the ecology because of Tether, too many people will be fucked beyond recovery, both in terms of finance and trust. Which leads to the overarching concern of this post:

If bitcoin is supposed to be decentralized, then how has it become colonized by the parasitic influence of centralized issues? We complain that fiat is printed out of nothing, but we aren't being vocal enough about Tether being "printed" by the millions. This is leading to Tether being the majority "currency" being used for crypto transactions. This is a centralized subsystem of the overall ecology that is working toward the downfall of what was meant to be a decentralized system. At this point, no should be seriously preaching decentralization as a selling point of cryptocurrency if they're not willing to account for Tether and other similar entities.

Folks. Are we actually moving toward decentralization? If you claim that we are, then you'll have to give an account for the real parasites in the ecology. And once you do, then you'll have to give an account for how the parasite needs to be dealt with. The overall health of the crypto-ecology is at stake, so unless you're thinking that you'll just ride as high as you can before shorting for good, I'd like to see some actual decent dialogue. I don't care what coin or token you shill for, because we're all under the shadow of what I think will be exponentially bigger than Mt. Gox. If this thing implodes, you can appreciate the moon from a distance, and not much else

In the spirit of dialogue, just let me know where I'm off base, and please explain clearly why. We gotta be even handed with this folks, our money is on the line

[Anonymous No.15039769]

>>15039749
Don't hold tether.
Don't trade on exchanges without usdt/usd pairs (or better no usdt at all.
Hold BTC.
Problem solved.

[Anonymous No.15039781]

>>15039769
but you haven't answered the question. Is Thether the eventual downfall of cryptocurrency overall?

[Anonymous No.15039851]

>>15039781
>Is Thether the eventual downfall of cryptocurrency overall?
it depend how far the scam will go, the longer it last the harder this shit will fall, if BTC falls too low it will never recover

[Anonymous No.15039889]

>>15039851
with the recent inclusion of Tether into Blockstream, it's looking likely that the scam will go far. maybe even Madoff level far.

[Anonymous No.15039895]

>>15039743
>>15039749
send this to some prominent maximalists and see what response you get for questioning the holy decentralisation ideals.

[Anonymous No.15039929]

>>15039895
Yep. Ideals. Decentralization is great, but only if you make sure the ecology is clean of parasites. Even that might be asking for too much.

If they respond a little too vehemently, then I'd naturally wonder about what it is they're trying to hide, to be honest. If we can't have an actual conversation about it, then we got issues.

[Anonymous No.15039933]

>>15039743
>Is cryptocurrency decentralized?
Some are, some aren't. /thread

[Anonymous No.15039982]

>>15039933
I'm sorry, but this ain't a tl;dr based conversation. We are all at risk.

[Anonymous No.15039987]

>>15039889
it's just too easy, hard to not be greedy when you can create fortune at will
worst part is that this judgment isn't even about tether even if that came in the discussion, this is still the wild west and there's not government power to stop them. I'm expecting a new print in the next 10 days

[Anonymous No.15040011]

>>15039929
a lot of the time they won't answer because that would be them acting as leaders, which isn't allowed.

you should join this tg anon tdotme/briarpatch run by derose. just copy and paste your op into the chat.

[Anonymous No.15040033]

>>15039987
So that in itself presses the question of whether the crypto-ecology could ever have been decentralized in the first place. Since human greed doesn't seem to be factored into Nakamoto's white paper, was this whole thing stillborn from the start?
My god this makes me pissed.

[Anonymous No.15040055]

>>15040011
I'm sorry. I'm showing my age and incomptence here. What's tg?

[Anonymous No.15040093]

>>15040033
even without tether BTC could not have stayed decentralized by design which was actually pointed out way back when this shit started.
because the hash-rate increase and the reward goes down, it was inevitable that only giant mining farm could make a profit out of it in the long run, the more you look into BTC mining the more it look like a giant ponzi ( I do not believe it is but ... )

[Anonymous No.15040097]

>>15040055
telegram chat group. replace dot with .

this is the guy that runs it https://www.youtube.com/user/cderose36

[Anonymous No.15040104]

Cryptocurrency can’t be truly decentralized if there’s a team of developers ready to dump when the price goes up. That’s why Satoshi was so clever, he knew that the last third party point of failure for BTC was he himself and therefore he needed to disappear so as to keep BTC truly decentralized

[Anonymous No.15040112]

>>15040104
It’s not about cleverness, that world is retarded to use here. It’s about humility and devotion to the ideal over personal gain

[Anonymous No.15040122]

>>15040097
>https://www.youtube.com/user/cderose36

ah thanks

>>15040093
Well sheeeeeeeit

[Anonymous No.15040137]

>>15040104

but in terms of Tether alone, can it be truly decentral when it has taken in a parasitic central element?

[Anonymous No.15040151]

>>15040104
also, as >>15040093
points out, and I'm looking squarely at China on this, hasn't the decentralized ideal been crushed already?

[Anonymous No.15040157]

>>15040104
yeah he also gave himself a massive head start mining btc faster than anybody could stacking 1M coin before anybody could really start mining then the difficulty increased dramatically assuring him to have the biggest stack.
peoples were mad that vitalik pre-mined ETH and called it a scam when statoshi did essentially the same thing.

[Anonymous No.15040213]

sigh

Why is the cryptosphere so overall silent on this then?

[Anonymous No.15040236]

why exactly does everybody think that bitcoin will crash if tether implodes? if anything the demand for bitcoin on the BTC/USDT markets will surge.
The only reason I could imagine is that bitfinex will be forced to dump their accumulated bitcoin, but that could also happen with tether being alive and well.
Tether is a scam and its end will come, but it will only leave some bagholders behind and won't affect bitcoin a lot in the long term.

[Anonymous No.15040248]

>>15040213
because 99% of the space is long on crypto remember
WE ALL GONNA MAKE IT BRO OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

>>15040236
> why exactly does everybody think that bitcoin will crash if tether implodes?
this has been explained a million time

[Anonymous No.15040290]

>>15040236
The "everybody" you refer to seems to be a minority report in an otherwise non-existent conversation on Tether's effect on the whole ecology.

The majority is silent, and a little too silent.

Tether is now embedded into Blockstream, so its end might be on a Madoff countdown for all we know. When that happens, later or sooner, don't you think trust in bitcoin will disappear indefinitely?

[Anonymous No.15040305]

>>15040248
Long huh?.....interesting
I had to chuckle a bit

[Anonymous No.15040333]

>>15040248
btw, could you dig up the reference to the conversation on how btc couldn't have been decentralized in the long run? Would greatly appreciate it. Or I could practice the Googlefu

[Anonymous No.15040423]

They don't need tether to do any of this. Tether exchanges are more transparent than fiat exchanges. 75% backed in direct dollars is better than any bank account.

[Anonymous No.15040430]

>>15040333
that was on /g/ back in the days like 2010 ... maybe you can find similar point on plebbit I've never looked into it

[Anonymous No.15040453]

>>15040423
You can't deny that Tether has a huge presence in the ecology though. I think it accounts for more than half of bitcoin transactions.

[Anonymous No.15040496]

>>15040453
If you just look at top 24 hour volume that should show you all you need to know.

[Anonymous No.15040525]

>>15040430
Alright, thanks. The only thing I could think of in counter to the possibility of the miner ponzi is that a lot of big mining pools lost millions. They might make more money, but they also have bigger risks to deal with, relatively speaking.

[Anonymous No.15040544]

>>15040496
Meaning what? Join the actual conversation man.

[Anonymous No.15040601]

bitfinex is not running a scam.

maintaining banking in crypto is notoriously difficult. that’s why they’ve never had an official audit.

they had 700M in funds frozen, so they took a loan from Tether to cover withdrawals. they staked shares as collateral and pay interest on this loan.

is it kind weird, yeah but that’s crypto. is it the biggest scam since madoff, definitely not.

also this whole “tether supply increase correlates to btc pump therefore it’s propping it up” meme needs to go away and die. literally the dumbest thing that’s caught on in the last 2 years.

[Anonymous No.15040650]

>>15040601
Even if I grant what your'e saying, Tether's performance on its own needs to be accounted for then. How the hell does its market cap suddenly have exponential growth in its history?

[Anonymous No.15040659]

>>15040525
it's only a ponzi if satoshi dumps his coin tho
until then it's a gold rush based pure speculation that the price will keep going up, because unlike gold which has real tangible value and use BTC only rely on the fact that the next guy will pay more so you can pay your electric bill to mine the next coin, if the next guy doesn't come ... poof
that's why they use tether to pump the price artificially and hope to bait in real money

[Anonymous No.15040665]

>>15040544
Meaning that its volume is hands down larger than any other and it is a defunct layer of liquidity in the market, if tether goes down expect to see a 99% flash crash, it won't last very long but it will still wreck a lot of people who have no clue or don't want to hear it. Always do the opposite of what /biz/ says, and right now they are saying tether is safe and btc is bullish. Buyer beware!!!!!!

[Anonymous No.15040676]

>>15040601
>bitfinex is not running a scam.

[Anonymous No.15040682]

>>15040601
>maintaining banking in crypto is notoriously difficult. that’s why they’ve never had an official audit.
https://twitter.com/winklevoss/status/1052580017799090176

[Anonymous No.15040687]

>>15040650
it’s directly correlated to demand. not that complicated. sure you could say there’s a lot of wash trading going on which inflates it, but that wash trading isn’t pumping any prices. the market cap of tether is incredibly irrelevant.

[Anonymous No.15040698]

>>15040601
>bitfinex is not running a scam.
> maintaining banking in crypto is notoriously difficult. that’s why they’ve never had an official audit.

coinbase doesn't have any problem ...

[Anonymous No.15040701]

>>15040698
>>15040682

[Anonymous No.15040703]

>>15040687
You can also argue that the demand is artificially inflated by the tether being printed. you must work for bitfinex.

[Anonymous No.15040723]

>>15040687
fact remain that there's proof tether isn't backed and can be generated at will, while there's ZERO proof it's backed

[Anonymous No.15040728]

>>15040698
https://www.bloomberg.com/news/articles/2018-12-18/crypto-mystery-clues-suggest-tether-has-the-billions-it-promised

[Anonymous No.15040733]

>>15040698
>>15040682
>>15040676
The only thing Tether did wrong was letting people do what they want with their money. US Goberment can't have that...

[Anonymous No.15040742]

>>15040723
I hope they just go off the rails and start minting trillions of tether right before the next hearing lmao it would be glorious!!

[Anonymous No.15040745]

>>15040665
Now that is a response and I thank you good sir.

Flash crash eh? a day in the life i suppose....except we'll see a whole bunch of suicides if the 99% happens.

[Anonymous No.15040761]

>>15040703
yes I’m sure you could argue that, but show me the proof.

>>15040723
did you even read what I said?

I know they had an unofficial audit, which claimed it was all kosher.

and then there’s this as well:
>>15040728

[Anonymous No.15040766]

>>15040728
Well suggest and proves are totally different aren't they? I can suggest that I'm a humpback whale but if I can't prove it then what good is my original claim?

[Anonymous No.15040783]

>>15040665
I see waaaaaaay more people FUDing tether. which I get. people have their shorts open, whatever, it’s fine. but do some basic research and the likelihood of it being a scam is <1% imo. hedge that accordingly and you’re golden.

[Anonymous No.15040801]

>>15040745
If they suicide over digital chucky cheese tokens then they fuckin deserve it. The writing is on the wall. People have been warned, just have money ready. If you can't afford to lose everything in your portfolio then pull out your initial investment.

[Anonymous No.15040804]

>>15040761
a fuckign ((( bloomberg )) article and you think this is enough
GTFO back to pleddit shill your spacing is showing

[Anonymous No.15040842]

>>15040783
Except the basic research is showing that all signs point toward what is an absolute shit sandwich.

[Anonymous No.15040851]

>>15040804
>cope

out of actual arguments so you resort to ((( ))) and plebbit.

the sad thing is you’re probably FUDing with like...$100 worth of shorts open. if you had real money on the line I’d kind of respect it.

[Anonymous No.15040866]

>>15040842
got any links?

I really don’t have much of an agenda here. got about 5% of my net worth in a basket of crypto’s that I think will be relatively fine long term (even if tether is a scam). just curious if there’s any substance to the frothing FUDsters.

[Anonymous No.15040884]

>>15040761
In order for your defense to be taken seriously, you'd have to account especially for how they're being sketchy about their ability to back up all the tethers they've printed. Be reasonable man. You're money is on the line too.

[Anonymous No.15040887]

Try moon3d and get good profit

[Anonymous No.15040928]

>>15040884
like I said, it’s definitely sketch. but I’d guess it’s more along the lines of “we’ve had our banks fuck us way too many times to risk anything”, rather than “let’s ruin this profitable business we’re running by launching a massive scam we have no way off pulling off long term”.

I also expect the NYAG case to be dropped later this year. That plus halvening will prob boost BTC quite a bit. thats my outlook for the rest of the year in any case.

[Anonymous No.15040977]

>>15040928
https://cointelegraph.com/news/tether-says-it-invested-some-of-its-reserves-into-bitcoin-and-other-assets
https://breakermag.com/tether-now-admits-its-not-fully-backed-by-dollars/
https://www.forbes.com/sites/jasonbloomberg/2018/11/25/bernie-madoff-move-over-stablecoins-have-you-beat/
https://www.youtube.com/watch?v=PGsF5wDksPI

just to name a few. I've tried to be evenhanded about it, but the more I look at it, the more I get concerned.

Thank you for the reasonable response by the way. Too little of it on biz.
I guess that is a possibility. But if it is the case, then my god is it irritating

[Anonymous No.15040987]

>>15040928
though scams do have a way of living well. it's the reason why I refer to it as a parasite in what was otherwise supposed to be a decentralized ecology

[Anonymous No.15041040]

>>15040987
yeah, sometimes I think I might be naive.

Bernie madoff could’ve been rich, instead he wanted to be Uber rich and scammed a bunch of people. idk.

thanks for the links, will check em out.

[Anonymous No.15041062]

>>15040687
The market cap of tether is not irrelevant... it's really the Crux of OPs issue, because each tether is supposed to be backed 1:1 with USD. Anyway, what tether is doing is similar to fractional reserve banking with a few key differences. One of them is FDIC insurance. But another is that they aren't lending the money, they provide market liquidity essentially. But if they can take 75 dollars and buy Bitcoin with it as though they had 100 dollars, they're boosting the value of Bitcoin, but also devalueing/debasing the dollar. This may or may not align with Trump's geopolitical short term goals, although I have to think it would not be aligned with long term us foriegn policy, unless the elites have seen the writing on the wall for the USD.

[Anonymous No.15041116]

>>15041062
Bottom line is they are lying about their holdings, they have no oversight of the minting of tether, and are in bed with international criminal cartels. Tell me again how you think this shit is going to hold up?

[Anonymous No.15041163]

>>15041116
It won't hold up. The timeline is what none of us know. That's the infuriating part.

[Anonymous No.15041170]

>>15041116
but they’re not lying. they’ve admitted it’s about 74% backed with cash/cash equivalents. they even admitted the loan they gave to bitfinex. you can question how sketchy that is, sure, but they’ve made pretty clear what the backing is.

I give up. I actually just came here to shill DUSK, but thought I might learn something new about Tether. guess I was wrong.

[Anonymous No.15041241]

>>15041170
>they’ve admitted it’s about 74% backed with cash/cash equivalents.
that was when the MC was 2.5B there's 1.5B more now

[Anonymous No.15041256]

>>15041062
I'm not intimately familiar with the details of tether, I'm more of an armchair guy. I follow crude and geopolitics much more. But I have a few key questions. How does tether make money (on paper, legitimately, according to white paper etc.)? What are their "legitimate" incentives? Also, say this nyag thing goes poorly for bitfinex, how will this expose that tether isn't 100% backed, and how will it force them to stop operating even if it does? Worst case there would be a market sell off of usdt into BTC until 1 usdt=.75 USD and an overshoot maybe. Also 75% backed is still high, more than 4x what is required for us Banks iirc. This may not cause a crisis of faith at all, although it would mean less decentralization and that tether is de facto central bank of crypto.

[Anonymous No.15041267]

>>15041170
You never knew shit in the first place, just the narrative that crypto media authors wanted you to believe. This is obvious by the fact that you would consider shilling anything other than LINK. Fuck off kike.

[Anonymous No.15041272]

Until parasitic entities in the crypto-ecology are dealt with extreme prejudice, we're going to see the increasing risk of people losing virtually everything, and not just to bad buying/selling decisions, but to the intentions of Tether and Tether like entities. And though this might sound a bit cold, the heavier cost will be the indefinite distrust of bitcoin.

I'm gone for now. And, it would be nice if I'm utterly wrong.

[Anonymous No.15041283]

>>15041163
Well they have less than 90 days until the next hearing, by then all of the details will be reviewed and the judge can make decisions from there. New flash, it aint looking good.

[Anonymous No.15041298]

>>15041256
They make money by creating tokens out of thin air and selling them to retards.

[Anonymous No.15041322]

>>15041298
Well yes that seems to be true. Is that what it says in their white paper though?

[Anonymous No.15041340]

>>15041170
it's really what >>15041062 says
this is what I see as a parasitic action within its indefinite life within the cryptoecology. don't mind the ones on biz who may have too big a mouth.

>>15041267
again, it doesn't matter what coin or token. We might all be fucked.

[Anonymous No.15041346]

>>15041256
They make money off interest.

>>15041267
I bought LINK at the ICO, which is probably worth more than your entire net worth you brainless faggot.

>>15041283
Please let me know what aspect of it you think “doesn’t look good”. NYAG literally doesn’t even have jurisdiction. Case will be thrown out.

[Anonymous No.15041360]

>>15039743
>I cannot help but wonder why the overall community is so calm.

It's called "denial". By pretending the line on the graph is moving from mythical 'bears" and "bulls" and "whales", they can pretend that the whole thing isn't a house of cards that's about to get hit with a leaf blower. It's wishful thinking, magical thinking, and easier than realizing the NEET lambo dream is over, dead.
They don't want to admit to themselves they've wasted almost a year on a get rich fast party they weren't invited to, and that their sinking the few bucks that they can scrape together into the mass delusion only paid developer's rent.

[Anonymous No.15041403]

>>15041360
>seeing through the facade

some of us are unironically here for the technology. the money will come, give it 4-5 years tops.

[Anonymous No.15041416]

>>15039889
This. Liquid is going to be Tether's dark pool to pump Bitcoin without seeing all the new Tether Treasury creations/movements, since liquid uses CT. article on this https://medium.com/coinmonks/did-tether-just-create-a-2-27-billion-monero-like-dark-pool-using-liquid-522178e4e508

[Anonymous No.15041447]

>>15039781
The only thing propping up the price of Bitcoin artificially after the meltdown in January is Tether. They started printing tether with no real assets behind them in April. The whole thing has been a pump and dump. The "real" price of bitcoin is a fraction of what it is now, and might have established itself more as a stable asset over this timeframe. But it's been doubly fucked - not only is it yet another fucking bubble that's gonna burst, but that burst will make all crypto toxic as hell to most people.
There was a brief time when crypto had a clear path forward towards more legitimacy with the general public, but Bitmex and Tether sold that out from under you.

[Anonymous No.15041461]

>>15040887
Fuck off this board with your scam. https://medium.com/@stackgambler111/moon3d-exposed-as-a-scam-transcript-4f0d18392c8d

[Anonymous No.15041476]

>>15041346
Oh yea well i mined in the first 1000 btc blocks suck my dick, see? Anyone can claim they have millions of dollars. Get where I'm going with this?

[Anonymous No.15041497]

>>15040650
>Even if I grant what your'e saying, Tether's performance on its own needs to be accounted for then. How the hell does its market cap suddenly have exponential growth in its history?
Have you seen this?
This growth happened during what seemed to be like a bear market.
Do you think they're printing those too?

[Anonymous No.15041504]

>>15041170
Listening to schizo FUDsters with a bear agenda was your first mistake.

[Anonymous No.15041510]

>>15041346
>NYAG literally doesn't even have jurisdiction
LMAO FUCK COPE

[Anonymous No.15041582]

>>15041322
It could and people would still give them their money/corns.

[Anonymous No.15041616]

>>15041416
>https://medium.com/coinmonks/did-tether-just-create-a-2-27-billion-monero-like-dark-pool-using-liquid-522178e4e508
well if this shit is truth, that it, it's unironically over, crypto is just a ponzi at this point

[Anonymous No.15042705]

>>15040104
>hat’s why Satoshi was so clever, he knew that the last third party point of failure for BTC was he himself and therefore he needed to disappear so as to keep BTC truly decentralized

Or maybe he didn't want to put a target on his back in case his Ponzi scam worked (it did).

[Anonymous No.15043739]

>>15041447
holy shit you are fucking retarded
bitcoin is real money
if some faggot got scammed by tether nobody fucking cares
if all money from tether would be pulled from it's security, people would just buy back BTC, pumping it to the stratosphere
you are the dumbest fucking kike alive

[Anonymous No.15043783]

>>15043739
Lmao the delusion on this board. If tether didn't pump btx we would still be at sub $1000.00 get fuckin real.

[Anonymous No.15043852]

>>15043783
No.

[Anonymous No.15044544]

Good genuine concerns by op, I've always sort of wondered it too, when there are no more blocks to mine what is the incentive to mine besides transaction fees? If anything centralization approaches with a probability of 1 over time, any smart anons can explain this?

[Anonymous No.15044644]

>>15043783
Btc*

[Anonymous No.15044653]

>>15043852
And usdt has since minted 2 billion tokens and counting.

[Anonymous No.15044665]

>>15044653
My bad i thought it was back to may 18'. Anyways. Keep thinking nothing will ever happen to tether. Im getting my pop corn ready.

[Anonymous No.15044849]

>>15039851
That is fine now that 0xBitcoin exists and Ethereum is the world computer. Bitcoin transactions will suck when it gets past 20kif it ever does again.

[Anonymous No.15044913]

>>15040104
Satoshi is dead he's in jail. Hal Finney, Dave Kleiman, or Paul Le Roux are the most obvious to be Satoshi. Paul Le Roux is a mastermind and the crator of TrueCrypt. His large stash of Bitcoin is encrypted so good, that Craig Wright and Calvin Ayre can't crack it no matter how hard they try. Craig is smart enough to devote time to learning and becoming a knowledgeable figurehead in crypto. He has hard drives that Dave and him were able to retrieve.

[Anonymous No.15045098]

>>15040236
Jesus this has been explained ad nauseum, tether is pumping the price of bitcoin and its not backed by anything. Without tether, the real price of BTC would be ~$500

[Anonymous No.15045161]

nice, the conversation is still going

>>15041497
I believe so. And I don't think it helps its case at the present time.

[Anonymous No.15045172]

>>15041504
Well maybe you should try to enter into conversation instead of being contrarian just for the sake of being contrarian. How many times does it need to be stated that all of our money is on the line.......unless you're part of the tether scheme. If that's the case, then you have a separate incoming issue.

[Anonymous No.15045188]

>>15044913
>His large stash of Bitcoin is encrypted so good, that Craig Wright and Calvin Ayre can't crack it no matter how hard they try.
Nobody tries to break encryption you fucking retard. Are you 12?

[Anonymous No.15045193]

>>15041616
what the.....

[Anonymous No.15045206]

>>15043852
i'm sorry, but I need to double check.
how are you interpreting this?

because as I read it, that is a shit ton of nope.

[Anonymous No.15045213]

>>15045188
people try to break encryption and succeed sometimes every day.

[Anonymous No.15045218]

>>15044544
hopefully some smart anon will. I will be continuing this conversation for as long as it takes. This is what needs to be done anyway. Doesn't matter what coin you shill, we might all be royally fucked.

[Anonymous No.15045227]

>>15041416
Crypto is over. Even if finex gets shut down they will be able to manipulate the price lol

[Anonymous No.15045239]

>>15045188
there's literally bots runing 24/7 trying to get into big wallets

[Anonymous No.15045241]

>>15045213
Do you believe that at some point, the sha256 encryption can be broken, depending upon an unfortunate series of deeply connected events?

[Anonymous No.15045324]

>>15045241
i consider it more or less inevitable that sha256 will be broken, but when it gets broken it means that there has been some dramatic advance in number theory or some related field, like somebody is going to get a fields medal for their work. so i'm not sure it's a bad thing

[Anonymous No.15045327]

>>15045206
Increase in percentage of tether volume correlates with the price going down not up. The big bullrun happened before tether gained dominance. In this recent run tether lost dominance.

[Anonymous No.15045688]

>>15045327
That doesn't exactly account for the times Tether movements correlated with bitcoin.

I used to think Tether was just a mere stablecoin and was blissfully unaware of the fud around it. After the recent bullrun past 13k, I couldn't help but notice that Tether almost seemed to dominate the whale alert feed on twitter. Wondering what the hell was going on, I started to see that the fud around Tether couldn't be described as fud. Anyone who says it is really needs to be able to say it with a straight face while actually accepting that Tether actually does dominate bitcoin movements in terms of transactions.

If you are okay with how there is a vicious cycle of bitcoin to tether to "bitcoin at a cheaper price," then you'll have to quite brave to face such an ecosystem. I use the word "brave" advisedly. In all honesty, I want to be wrong.

[Anonymous No.15045704]

>>15045688
>you'll have to BE quite brave to face such an ecosystem

sorry, i'm tired

[Anonymous No.15045728]

Why nobody understand that the new dark liquidity pool for Tether is an exit scam.

- You have USDT in a exchange from public Tether supply.
- Blockstream swap USDT from public supply to dark pool.
- Send the new "dark USDT" where you want
- Tether do not burns original USDT from public supply.
- You cash out your tether for FIAT
- Apparently all crypto market is OK but is losing FIAT liquidity

[Anonymous No.15045737]

>>15043739
Your anger is amusing, but holy fuck are you in for a rude awakening. And you'll be here posting "OMG THIS FUCKING PONZI WHAT HAPPENED TO MY MONEY", because you've drunk yourself retarded on the get rich Koolaid.

>bitcoin is real money

All I need, to know I'm dealing with a room temp. IQ.

[Anonymous No.15045752]

>>15045737
My penis is ready. Their buttholes are not!

[Anonymous No.15045828]

>>15045688
>I couldn't help but notice that Tether almost seemed to dominate the whale alert feed on twitter
Why is that so surprising? Especially in a cryptowide bear market? Tether is the first established stablecoin with by far the highest volume. When it, a form of semi-crypto that wasn't volatile was introduced the entire crypto market bled into it. There's massive demand for stablecoins from people that don't ever intend to trade them for crypto. You can make 10% from lending them right now and you have (apparent) control instead of the banks.

[Anonymous No.15046010]

>>15045728
I read the article about the Tether to Monero thing, but I'm not entirely sure yet if the writer was on point.

>>15045828
Except its effect on the whole crypto ecosystem probably won't be truly felt until its likely implosion. Again, if the tether to btc cycle continues, what actual positive thing can happen in the long term? Sure a number might get stinkin rich in the short term, or barely break even, but does this really set us up for a decentralized system? Again, we have a centralized parasitic entity residing in an ecosystem that was established in the hopes of a decentralized life cycle. Of course, now I'm questioning whether the intent toward decentralization is complete bullshit now.

[Anonymous No.15046042]

>>15046010
They don't want to hear it, the author wrote that article with the bias that tether will continue to get away with this, and with the presumption that the large btc transfers had to do with that particular incindent, when i looked at the announcement it just seemed like they made tether available on their network, nothing complicated like he was implicating. No one wants to hear that their investment is in serious danger of losing 99% of its value and liquidity in seconds, and their pride will cost them.

[Anonymous No.15046075]

>>15046042
Anyway I just discovered that half Tether holdings is Bitcoin and NOT FIAT.

It would be nice to know if there are more sources that confirm this.

[Anonymous No.15046089]

>>15046075
Wouldn't surprise me since they dump their worthelss usdt for btc, not only that, they purposefully fuck with the price to liq hunt a bunch of unsuspecting idiots.

[Anonymous No.15046096]

>>15046042
Yeah, pride does seem to be a key factor with a lot of the conversation surrounding Tether.

Some here haven't been too generous with the pro-Tether commenters, and vice versa. At this point in time it's impossible for this issue to become a dead horse beaten. The conversation must continue.

It's just that it seriously sucks that what could have been something quite amazing is likely turning into a situation where people are shitting where they are eating, and eating where they are shitting.

[Anonymous No.15046170]

>>15046075
Another risk is that if itncan be proven they are laundering money for criminal organizations then all of their btc could be either seized or blacklisted, it would be catastrophic short term, but bullish as fuck long term.

[Anonymous No.15046182]

Its no coincidence that the trump administration has really taken interests in cracking down on criminals transacting with btc.

[Anonymous No.15046212]

>>15046010
>the tether to btc cycle
There is no such cycle. This idea that tether pumps btc is based on schizo tier data fixing. I always avoided tether as a a centralized shitcoin but none of the doomsday fud is convincing. The price discovery system was already compromised as you call it by the main trading pairs being different sovereign fiat which are all centralized and unregulated by code.

[Anonymous No.15046257]

>>15046042
Does that mean that only serious projects will survive if BTC explodes?

[Anonymous No.15046289]

>>15046212
Jesus the chutzpa on you kikes. Tether is absolutely not a "stable asset" they definitely have dressed it up like one pretty consistently so far, but if you have seen the waves of fud in the past that have made tether worth
.74 and crazy shit like that, you can't sit there and tell me that this shit is so great and stable, that there is no looming threat, you need to buy some rope soon before you are not able to afford any.

[Anonymous No.15046304]

>>15046257
More than likely. LINK is an obvious winner, maybe a couple others as well, but id say over 99% of coins will never recover.

[Anonymous No.15046316]

>>15046212
This is a great example of the denial I was referring to.

[Anonymous No.15046355]

>>15046304

Would that also cause an ultra massive increase in those projects?

[Anonymous No.15046358]

>>15046212

2016 anon here.

Give me an answer to these facts.

- Tether daily volume in July was $ 26b/day. In Bitcoin ATH (2017) was $3b/day.

- Tether known supply is now x4 times higher than in Bitcoin ATH in 2017.

- All combined volume at Bitcoin ATH in 2017 was $19b / day

I give you the answer, this whole market is now based on USDT wash trading there arent real FIAT volume.

[Anonymous No.15046368]

>>15046355
Yes, we might even see btc get permanently dethroned from #1 in marketcap, but im not betting on it being totally destroyed.

[Anonymous No.15046395]

My personal theory is that we will see LINK take off with derivatives and marketplaces right after everyone gets bitfinex'd.

[Anonymous No.15046411]

>>15046368

I'm afraid, anon.
> I have 5k in bitcoin
> 2k in Link
> 2k in FTM
> 1k in Ocean Protocol


I sell all my btc and pass it to Link?

[Anonymous No.15046444]

>>15046289
>centralized shitcoin
>great and stable
>>15046289
>>15046316
You live in a fantasy world my friends.
>>15046358
Consistent with tether contributing to the bear market by bleeding demand away from other crypto instead of pumping it. People want stablecoins for a million reasons and for every USDT trading pair on every exchange there's an arb opportunity which you need tether for.

[Anonymous No.15046532]

>>15046444
>You live in a fantasy world my friends.
More of the denial. But I expected it - but surprised I haven't been called a kike yet.

[Anonymous No.15046536]

>>15046212
Could you provide an example of "schizo" tier data fixing? And what makes it "schizo" as opposed to the bare data that almost seems to make it painfully obvious that this is a massive and quite well done ponzi? Since you're not a Tether holder, but also see it as mostly benign, I'm actually interested in seeing a sustained line of reasoning that accounts for what I see as legit concerns and criticisms. Please don't consider them illegitimate from the outset. Just consider the key ones, and try to account for any blindspots you might have.

>>15046257
>>15046304
>>15046368
Except I think even "serious" projects are under the shadow of Tether's fall. (And I thought LINK was showing itself to be on the exit scam phase?) The fallout of trust from bitcoin's collapse can't automatically mean a fleeing toward alts. It means a lot of angry people being welcomed back into the arms of smiling central bank overlords.

Bitcoin destroyed.......you know, I would actually seek to get more if the price hits triple digits, due to a foolish hope. But, I don't believe it would ever have the potential it once had. If it's true that it was compromised from the beginning as the mother of all ponzi/ultimately central/eventually hackable and god knows what else, then we have sadly dreamed a foolish dream.

[Anonymous No.15046675]

>>15046532
You're probably only a golem of the kikes. They have adrenochrome fueled rituals where they take control of your brain through satellites and turn you into a mindless puppet.
>>15046536
>data fixing
Picking and choosing a few data points that fit your view while ignoring others. People do it unconsciously and the more a narrative is pushed the more people find data to match it. The incoherence of the accusations is one symptom of it. The graph I posted shows a clear long term trend that's the exact opposite to what you would expect if tether was pumping crypto which is the only claim relevant to btc price which is what I care about.

[Anonymous No.15047390]

>>15046675
So, can you be sure that the pro-tether narrative isn't compromised by cherry picking data that fits?