EXIT ALL MARKETS

[Anonymous No.16561211]

BITFINEX: DEAD
TETHER: DEAD

IT'S OVER.

>https://www.coinspeaker.com/bitfinex-tether-defrauding-investors/

>According to the documents released by the New York Office of the Attorney General, the judgment day finally comes to the castle of Bitfinex and the tower of Tether.
>Both companies were cheating with financial laws. And the development of their case only shows that Bitfinex is having some major troubles.
>The U.S. Supreme Court has destroyed Bitfinex, now it is the time to start packaging the inner functionaries
>the Attorney General wants to dig deeper into every counterparty who had dealt with Bitfinex
>the OAG investigation is not only about Tether, but the Bitfinex exchange in general
>The OAG has also found proofs that Tether and Bitfinex were lying to the investors about 1:1 backing
>the OAG is going fully transparent in saying that they will destroy Bitfinex for defrauding the investors

[Anonymous No.16561234]

So buttcorn will moon as everybody that tethered up is trying to get cash. Explains the longs

[Anonymous No.16561238]

[Anonymous No.16561283]

This is bullish for bitcoin. USDT users will have no choice but to buy bitcoin or lose all their money.

[Anonymous No.16561339]

>>16561234
Retards like you were born to be poor

[Anonymous No.16561350]

>>16561339
die of old age boomer

[Anonymous No.16561355]

>>16561339

[Anonymous No.16561359]

>>16561283
No it isn't, there might be a quick spike up but then complete crash when big players exit to fiat currencies. All of the margin trading, futures etc. are functioning via Tether.

If Tether dies, we will see under 1k$ BTC for sure.

[Anonymous No.16561361]

>>16561211
>>16561238
better close your shorts then if you believe tether fud
are you really naive enough to believe that you'll be able to get out the door first before the exchanges?

[Anonymous No.16561365]

Bullish for other stablecoin projects such as Reserve and dai.

[Anonymous No.16561372]

>>16561211
>boomer: how can we make ppl invest in our paper bitcoin in our desert peopels casino?
>answer: demonize tether. demonize the exchanges

[Anonymous No.16561380]

BITFINEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

[Anonymous No.16561381]

>>16561211
Bullish, "bankrun" on tether soon to bitcoin, stablecoin fags btfo.

Soon btc will be the stablecoin.

[Anonymous No.16561390]

>>16561359
BTC to 1 million dollars in 2020
1 million dollars marketcap

[Anonymous No.16561401]

>>16561359
>All of the margin trading, futures etc. are functioning via Tether.

So? Futures only track the price of bitcoin. They don't change it.

[Anonymous No.16561429]

>>16561359
Bitcoin will become tether anon , tether is in theory backed by usd.
Guess what btc is 150 days away of having lower inflation than the usd.

And if they don't like it they can use defi instead of tether , fucking boomers still don't get it that once cryptos reach low inflation they can be used to back up anything since they will become more stable than fiat , btc, monero and eth will be the first to reach that stage pretty soon.

[Anonymous No.16561458]

>>16561211
Bullish as fuck for Reserve

[Anonymous No.16561459]

>>16561381
BTC was always the stablecoin. When has 1 BTC not equaled 1 BTC?

[Anonymous No.16561467]

>>16561458
shut the fuck up you fucking satsgang shill

NOBODY WANTS YOUR SCAMCOIN

[Anonymous No.16561486]

>>16561381
>Bullish

YOU REALLY THINK 1/3 OF ALL VOLUME DISAPPEARING IN A BLINK OF AN EYE IS BULLISH?

YOU ARE NEVER GOING TO MAKE IT.

>>16561458
>Bullish as fuck for Reserve

NOT USED AS A BASE TRADING PAIR ANYWHERE. SORRY KIDDO, NICE IDEA THOUGH.

[Anonymous No.16561548]

>>16561486
Tether is not a fiat gateway it has the most volume because daytrading fags and big exchanges use it.

If Tether get's rekt we return to the glory days of btc being used for everything.

Tether has been a cancer for btc , bitfinex and tether are owned by some french no one ever saw (probably the bogs to be honest).

It's the worse fucking scam in crypto , bitfinex is the casino and tether pumps and dumps rigging that casino in their favor.
And since the faggots managed to get big exchanges to use it for accounting purposes they can move the price short term without any movement onchain.

This is why there is the tether fud of tether pumping , tether is not pumping shit otherwise big exchanges would not use it as back end , tether is however short term manipulating to rig their fucking casino.

With tether out of the game shit will happen onchain again and we moon , the fud was the reverse actually tether was supressing the price not pumping it.

[Anonymous No.16561564]

>>16561459
The moment tetherfags managed big exchanges to use it as a back end , they manipulate the price short term(15% drops or pumps) to rig their casino bitfinex.
You can have a 15% drop or up in price without any movement inchain because this cancer.

[Anonymous No.16561618]

>>16561350
>>16561355
Except I’m 24

[Anonymous No.16561620]

>>16561359
>mfw a shit ton of BTC gets liquidated into LINK instead of USD because theres plenty of whales who dont want to be stuck in fiat for legal reasons

[Anonymous No.16561627]

>>16561618
dont dox yourslef, anon

[Anonymous No.16561774]

>>16561283
>this is bullish for bitcoin.

Use your brain to think beyond the bitcoin number going up, who's going to end up holding the bag for over 4 billion dollars worth of hot potato ponzi tokens?

Hint: Binance, Huobi, Okex, Kraken, Bittrex

>https://www.Investopedia.Com/terms/l/liquidity-crisis.Asp

>a negative shock to economic expectations might drive the deposit holders with a bank or banks to make sudden, large withdrawals, if not their entire accounts. This may be due to concerns about the stability of the specific institution or broader economic influences. The account holder may see a need to have cash in hand immediately, perhaps if widespread economic declines are feared. Such activity can leave banks deficient in cash and unable to cover all registered accounts.

Replace 'deposit/account holder(s)' with 'traders' and 'banks' with 'exchanges' in the above.

Hint 2: exchanges are most likely running on fractional reserves already.

[Anonymous No.16561783]

>>16561618
ok 24 year old boomer

[Anonymous No.16561824]

>>16561548
>Tether is not a fiat gateway it has the most volume because daytrading fags and big exchanges use it.

This is wrong anon, If it was not a fiat gateway it would have ZERO worth. The only reason why traders use Tether is because of the shared belief that it is redeemable for USD since 1 dollar = 1 USDT, right? The way it was intended to work in theory - and did work in practice - is that people send the Tether company USD and they will send USDT in return, vice versa for cashing out. This worked well until they had 680 million dollars stolen from them and subsequently started getting heat from regulators, so they started the endless printing, running on fractional reserves (they even changed the terms and services to state it is no longer backed 1:1 to the USD Dollar), they also started accepting 'USD equivalents' - I.E. Bitcoin - instead of dollars.

>If Tether get's rekt we return to the glory days of btc being used for everything.

Read the article linked here >>16561774 about liquidity crises. Yes, BTC returns to being the king trading pair, but there's still a 4 BILLION DOLLAR gaping flesh wound of a black hole, and there are far reaching and serious second and third order effect consequences beyond what is being used for trading pairs. 4 billion in liquidity, 1/3rd of the current volume, deemed irrevocably worthless in an instant.

>The acute need for liquidity across institutions becomes a mutually self-reinforcing positive feedback loop that can spread to impact institutions and businesses that were not initially facing any liquidity problem on their own.

1/2

[Anonymous No.16561932]

>>16561824
Btc will be lucky to stay above $500 if this happens

[Anonymous No.16561965]

>>16561401
Holy kek this is the type of retards browsing this place

[Anonymous No.16561982]

>>16561211
Tether fud is passed schizo-tier faggotry and absolutely nothing you larp-post will change this fact.

[Anonymous No.16562001]

>>16561783
ok zoomer

[Anonymous No.16562037]

>>16561211
I’m so glad I have never used tether.

[Anonymous No.16562054]

>>16561359
>when big players exit to fiat currencies
That's the scam. When it crashes, you little cult members and gamblers will suddenly find out you can't cash out.
Ever.

[Anonymous No.16562064]

>>16561982

everything is awesome them

...except it isn't

[Anonymous No.16562066]

>>16561211
lol implying the FED and the US dollar is backed by 1:1, oh wait there's no such thing they print money for no reason backing it up
fuck outta here

[Anonymous No.16562080]

>>16562066
Cringe

[Anonymous No.16562085]

>>16561234
1 final +20% pump then is back down to $400 fair value. (before usdt)

[Anonymous No.16562097]

>>16561548
COPE

[Anonymous No.16562100]

>>16561965
Yes, it is. Rational people fled this forum and crypto last year, /biz has been a clubhouse for the get rich crowd, the /pol schizos who love crypto because no JOOZ, and pajeet scammers. Of course they think this is good for bitcoin, they think everything is good for bitcoin, because if they don't think that, they'd have to admit they threw money away on this scam, and will never see it again.

[Anonymous No.16562117]

>>16562085

law enforcement is slow to move, but eventually it catches up
this has been long in the making

[Anonymous No.16562129]

>>16561211
This article was written by a literal retard

[Anonymous No.16562139]

>>16561824
2/2
In the past 'haircuts' and 'clawbacks' have been used to cover losses from hacks (Bitfinex) or other traders mistakes (Okex):

Bitfinex:
>https://uk.reuters.com/article/us-bitfinex-hacked-hongkong/bitfinex-exchange-customers-to-get-36-percent-haircut-debt-token-idUKKCN10I06H

>Crypto-currency exchange Bitfinex, which lost $72 million to hackers last week, told customers on Sunday they would lose just over 36 percent of the assets they had on the platform

Okex:
>https://webcache.googleusercontent.com/search?q=cache:zS3uOY91TyEJ:https://www.bloomberg.com/news/articles/2018-08-03/a-massive-losing-bet-on-bitcoin-futures-has-investors-buzzing
(Link to Google cache of the article because of Bloombergs paywall)

>The long position in Bitcoin futures listed on OKEx, a Hong Kong-based exchange, had a notional value of about $416 million, according to an OKEx statement on Friday and data compiled by Bloomberg. OKEx moved to liquidate the position on Tuesday, but the exchange was unable to cover the trader’s shortfall as Bitcoin’s price slumped. Because OKEx has a “socialized clawback” policy for such instances, it will force futures traders with unrealized gains this week to give up about 18 percent of their profits.

The point is: Don't leave your coins on any exchange, in the very likely event of a USDT collapse many exchanges WILL be going bust, and if they have resorted to stealing from users to cover relatively smaller losses in the past they will most definitely steal from you again to socialize their share of the 4 billion dollars that evaporates overnight.

>>16561932
>Btc will be lucky to stay above $500 if this happens

Pic related is from OAG court filings, regarding when Bitfinex had a liquidity crisis of its own and couldn't honor withdrawals after 680million was stolen. Now, imagine what happens when all of the exchanges have a sudden shock massive liquidity crisis?

[Anonymous No.16562344]

>>16562080
cope

[Anonymous No.16562428]

>>16562066
>lol implying the FED and the US dollar is backed by 1:1, oh wait there's no such thing they print money for no reason backing it up
>fuck outta here

Good little sheep. You will be bleating 'HODL' all the way to the slaughter. Keep listening to your moon lambo podcasts and #StackingSats. Institutions are coming BTW... Not financial institutions, though. Pic related, coming soon to Bitfinex and Tether.

[Anonymous No.16562456]

>>16562097
Stupid bobo with bitfinex out you won't be able to short through non kosher means.

>>16561824
>>16562139
Good posts , but i disagree on your conclusion , most of those exchanges tethered the fuck out are cancer.
They are the normie tier exchanges that want the fags to leave the coins in the exchange cold wallet allowing for fractional reserve furthermore most are the exchanges that cuck themselves to kyc.

The sooner btc returns to it's p2p origins the better , look what happened to localbitcoins , they cucked to eu regulations and now there are like 12 alternatives in just a few months.

Centralized exchanges been a cancer for btc

>but there's still a 4 BILLION DOLLAR gaping flesh wound of a black hole, and there are far reaching and serious second and third order effect

How so?All daytrading fags in alt will have to use btc as a stablecoin , that or an eth defi solution , both are bullish for crypto.

Tether has been stealing btc momentum the only reason they manipulate the market short term is because they are hunting in a zoo, they own btifinex and tether so the prey in their own casino has no chance.
The volume in tether that you see in coinmarketcap is irrelevant , you can see btc fall in price 15% and no movemen onchain because tether allowed this big degenerate exchanges to move the price without even moving the coins out of exchanges.

Thing is so shaddy that no one ever saw bitfinex/tether ceo , some say dude may not even exist.

>>16562139
>In the past 'haircuts' and 'clawbacks' have been used to cover losses from hacks (Bitfinex) or other traders mistakes (Okex):


This is bullish as fuck and exactly what happened after mtgox, once the market realized a lot of the liquidity was not there and not even existed anymore people cashed out to their wallets , the hacking that came after was also bullish because then again liquidity was removed from the market by the hackers.

O

[Anonymous No.16562465]

>>16562139
>Pic related is from OAG court filings, regarding when Bitfinex had a liquidity crisis of its own and couldn't honor withdrawals after 680million was stolen. Now, imagine what happens when all of the exchanges have a sudden shock massive liquidity crisis?

They pumped the price because the fucking retards started to back themselves in btc instead of fiat.

[Anonymous No.16563012]

In hindsight these are the moments you need to look out for, in order to achieve maximum financial oppurtunity

[Anonymous No.16563039]

>>16562139
the screenshot was in regard to bitfinex being illiquid. it would cause a bank run if a top exchange didn't have the funds for withdrawals

[Anonymous No.16563066]

>>16561211
although I agree that this shit is gonna go down you gonna see some massive wick up when shit really hit the fan
peoples are gonna try to get out of tether in any pair possible

[Anonymous No.16563106]

>>16561548
This is the sort of cope that is going to destroy this board

When tether collapses only Bobos and silver anons will make it out alive

[Anonymous No.16563229]

>>16561283
this isn't 2014 when you can only cash out through BTC. The smart choice is to cash out through ETH because otherwise the mempool will be full

[Anonymous No.16563243]

>>16563106
Bobos will lose all their money since margin trading is done with tether. Silvercucks will never make it.

[Anonymous No.16563399]

>>16563066
there are so many stablecoin pairs on binance alone, i think people will just trade usdt for pax/tusd/busd etc but instantaneously and on all exchanges. think of it like the matic dump but on steroids. tether will obviously be worthless after that and everyone who didnt switch in time (which i think are like at least 80-90% since the volume of tether is like 95% of all stablecoins) will lose everything. this will ultimately cause massive fear in the entire cryptosphere and smash btc and the rest of the market down like a mtgox 2.0. thats the tether implosion for you, at least how i see it (if it even happens lul)

[Anonymous No.16563417]

Daily reminder that 90% of bitcoin's volume is in tethers which are backed by nothing and printed by the millions every day. Once that shit is gone bitcoin is going to $500

[Anonymous No.16563444]

This is good news for XTZ. Who's here smart money?

[Anonymous No.16563450]

Dumping my SAFEX because is a scam

[Anonymous No.16563513]

>>16563444
Smart money sold time ago. Now only there are gamblers, scammers and poorfags.

[Anonymous No.16563559]

I longed LINK using borrowed tethers
does this mean I make it

[Anonymous No.16563630]

Not funny, I'm 100% in USDT right now.
Should I at least move to a different stable coin (USDC, TUSD or whatever they're called) or there will be domino effect?

[Anonymous No.16563682]

>>16563630
>Not funny, I'm 100% in USDT right now.
lol same but i wouldnt worry about it. unless they declare tether insolvent over night and trigger the biggest implosion of a market in the history (which would be fucking hilarious to watch) its a huge nothingburger like always and will be dragged on for another year or so until something actually happens. remember when bitfinex and tether were first asked to the NYAG? that was almost a year ago and absolutely nothing has happened since

[Anonymous No.16563866]

>>16563682
Most likely the yet another Tether FUD and nothing happens, like always.
But sooner or later Tether will implode and I would prefer to not get stuck in it, you know...

[Anonymous No.16563882]

>>16562085
that's all fake volume, no one cares about that.

[Anonymous No.16563901]

>>16563630
Not really sure why you wouldn’t

[Anonymous No.16563919]

>>16563630
yeah you're retarded. >>16563682

[Anonymous No.16563941]

>>16562456
>All daytrading fags in alt will have to use btc as a stablecoin

Many alts can be traded against fiat directly already.

[Anonymous No.16563950]

>>16561620
based

[Anonymous No.16564013]

>>16563630
GTFO!!!! you're lucky you know this early. better a year early than a minute too late

[Anonymous No.16564050]

So from my understanding of all of this, Tether is the last major event of this bear market? Because once this clears, things will likely get regulated and then we will enter the era towards actual gains. There is obvious potential in blockchain/smart contracts, just gotta deal with the scam artists making a dime off the sheep.

[Anonymous No.16564056]

>>16563941
Behind the scenes tether is used

[Anonymous No.16564062]

>>16563417
Absolute nonsense if that were the case then tether would be buying btc with their unbacked coins.

Show me those wallets

[Anonymous No.16564067]

idk i trust the bitfinex chinks

[Anonymous No.16564073]

>>16561211

[Anonymous No.16564079]

>>16564062
>if that were the case then tether would be buying btc with their unbacked coins.

They are, dummy head

[Anonymous No.16564104]

>>16564062
jesus christ you are a retarded nigger aren't you?

[Anonymous No.16564106]

Who the fuck holds Tether??

My portfolio:

75% ETH
20% DAI/USDC
5% LINK

[Anonymous No.16564126]

>>16561965
But he is right retard, futures as of now are settled on paper not btc.

[Anonymous No.16564316]

>>16563630
just go 1x short on any derivative exchange...

[Anonymous No.16564371]

>>16563901
>>16564013
Just set a bid for converting my USDT in USDC (backed by Coinbase and Circle and monthly audited).

I knew it was stupid to stay in Tether, but actually never realized I went full retard.

[Anonymous No.16564671]

>>16561211
It's pretty much over, except you should be holding some Pegnet for 2020.

[Anonymous No.16564708]

>>16564671
this... if you're not using apps on the factom chain idk what to tell you

[Anonymous No.16564726]

>>16561548
>Hates Tether (my fave daytrade pair)
>Is a moonbaby

Kek you're everything I aspire not to be in a man

[Anonymous No.16565235]

By now 90% of exchanges and all the major ones, and about 100% of the asian ones, use tether. They won't let it die because their business depends on it. It will be interesting to see whether American agnecies can pressure Singapore and Hong Kong enough to force something though.

[Anonymous No.16565715]

>>16561458
No. We are Pegnet now.

[Anonymous No.16566246]

>>16563682
you are the dumb money that smart money dumps on.

[Anonymous No.16566301]

>>16565235
the value of tether is determined by the fact that peoples trust it
there's nothing exchanges can do if peoples no longer believe the lies

[Anonymous No.16566579]

*bzz* *bzz*

[Anonymous No.16567101]

>>16564726
I don't give a shit i like crypto because it has the potential of freeing humanity in a lot of ways not because you can earn money daytrading , if you earn money daytrading someone else lost it it's a zero sum game.

Crypto in general is not, if crypto rises it forces governments to moderate by providing a way out of the system, if crypto rises we all rise.

[Anonymous No.16567111]

>>16564126
No he’s not...

[Anonymous No.16567173]

>>16561548
absolutely delusional indian cope.

fuck off pajeet

[Anonymous No.16567182]

>>16563399
It's okay everyone. Come back any buy bitcoin

[Anonymous No.16567235]

>>16561620
As usual a linktoddler pajeet comes in trying to shoehorn his ERC token into crypto discussion. Back to rebbit you go.

[Anonymous No.16567521]

>>16566301
This also works the other way around, it can be a huge scam but as long as enough people believe in it it'll stay afloat, just like basically every fiat currnecy ever.

[Anonymous No.16567587]

>>16561211
>tether dead
good

[Anonymous No.16567600]

>>16561359
>If Tether dies, we will see under 1k$ BTC for sure.
what's the name of this cope
this is possibly one of the dumbest things I've ever read on this website, I'm screencapping your post

[Anonymous No.16567611]

>>16566301
most people inherently trust state monopoly money, even if its bullshit like tether. all ytou have to say is its "pegged" and they wont give a shit if its backed or not

[Anonymous No.16567653]

>>16561359
here you go
I just hope that you remember that somewhere in this vast planet, somebody is laughing at your stupidity

[Anonymous No.16567657]

tether fud is the absolute BIGGEST bear cope bar none. absolutely NOTHING has happened for more than 2 years and NOTHING will happen.

it's a literal fucking cope for missing out on the biggest bullrun in history and a massive fucking cope for not being able to buy "cheap" (for their imaginary standards) bitcoin.
bears are the biggest copers and there's nothing you can tell me to convince me otherwise. they will watch bitcoin climb to 100k in the next 2 years and scream tether all along the way. they are literally the peter schiff equivalents of crypto. are you going to stay poor because some basement dwelling retard told you bitcoin is going to $100 based on his delusional conspiracy theory?

have sex you incel bears and don't even bother replying to my post.

[Anonymous No.16567666]

>>16567657
>bitcoin to 100k

And you're calling people delusional?

[Anonymous No.16567681]

>>16567666
I have math to back up my claims. What do bears have? A made up conspiracy theory? KEK

STAY FUCKING POOR. I WAS HERE TELLING YOU RETARDS IN 2016. I'M SAYING IT AGAIN. BUY NOW OR STAY POOR FOREVER.
GOOD BYE.

[Anonymous No.16568631]

>>16567666
Nice try Satan, with gold marketcap btc will be priced at 473k.
Previous halvings increased the marketcap by at least 100 times , let's say it happens 25 times now , we are still above 100k with that number.

100k is absurdly close, once the halving happens and miners stop dumping so much and inflation goes bellow fiat it's over for bobos forever.
We moon like it never happened and if breadline sanders or warren is elected i am sure i will meet many anons at the citadel.

[Anonymous No.16568650]

>>16567657
>nothing has happened
Until it happens

[Anonymous No.16568658]

This FUD is older than bitcoin itself. Tether serves a fungible purpose with legions of stablecoins able to swap it's place at any time.

[Anonymous No.16568679]

>>16567681
Kek i am sure you were in this thread

>>/biz/thread/S1214767

[Anonymous No.16568705]

>>16567666
>>16567681
>>16567657
The technicals (log hopium curve) is one story.
>but who will buy at 100k???
The other thing bears don't understand is that bitcoin being divisible to 8 decimal places means that absolute prices DO NOT MATTER.
Stocks for instance - very few platforms offer fractional investing. Almost none even in the last five years. It's just being offered at a handful of places now.

percentage gains is what matters.
With enough grinding of weak hands and manipulation to flush people out, you can absolutely support 100k prices even with today's level of volume/liquidity... people just have to be accommodated to trading sats instead of a whole bitcoin.
Even an exchanging rebranding from bitcoin denomination to sats could be a catalyst, weirder things have happened because people are stupid.
it's probably not likely and more fresh money always helps, and 100k isn't guaranteed but if it does happen that's how it will happen

[Anonymous No.16568746]

>>16568705
At the current amount of Bitcoin in circulation, ignoring the million from satoshi, couple million burned, and maybe a couple million lost, the market cap at 100k would be 1.8T. The OTC derivatives market at the end of last year was almost 550T. BTC is a global financial instrument. 100k is nothing.

[Anonymous No.16568751]

very bullish for SNX which was made to be censorship proof, or heavily resilient to it. when tether stops working they'll go to DEFI and synthetix

[Anonymous No.16568777]

>>16568705
I am going to tell you a story of how i discovered bitcoin anon.
Back in 2015 my country Argentina was under capital controls(now we are again but that's another story).

So i discovered i could resell videogames since no one had cards to buy them and to bypass the capital controls i used bitcoin , i never hold 1 fucking bitcoin(i want to kill my self for that kek).

My drill was easy

Argentinean pesos > BTC for 30 mins > buying games

Then i resell them , i never give a single fuck about bitcoin price because btc was nothing less than the medium of exchange i was doing 200 usd weekly payments without giving a shit about btc price because it was irrelevant i was buying at different price and it was accepted at a different place but the fiat was the same ammount.

Bearcucks have never checked btc average transaction(55k usd now), the volume doing transactions like i mentioned above is fucking massive , and once we hit lower inflation than fiat it's going to go on fucking steroids since the price stability will increase.

Should the unit of account moves to sats that will trigger an ever harder bullrun.

[Anonymous No.16568779]

>>16567681
Seething retard