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24660323 No.24660323 [Reply] [Original]

They are ready to take down tether and further regulate stablecoins like USDC. The proposal for their approach is still in the works but it will happen in 2021

Remember to convert to real fiat once you see the btc megapump. To cashout, tether whales have to convert their usdt to BTC, this should make btc rally

>> No.24660400

>>24660323
Why would there be a tether whale? Whats his endgame since its always 1 dollar?

>> No.24660419

>>24660400
they got in when it was only 0.01

>> No.24660470
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24660470

>>24660400
checked and based were all gonna make it

>> No.24660508

>>24660400
It could make sense if you're a swing trader and don't want to create shittons of easily trackable taxable events. Swing your way up 50x of initial investment over a year and then convert back to BTC and sell the BTC, boom now it looks like you held for a year (so you get the lower tax rate) and your taxes are way simpler. The exchange doesn't know the difference between that and crypto coming and going from a cold wallet and the IRS isn't going to analyze the blockchain if it looks like you're paying your taxes honestly.

>> No.24660555

They will suspect something when you claim 50x taxable gains after bitcoin has gone up 5x

>> No.24660639

>>24660400
Whales convert to usdt for cash exposure in their hot wallets
Much faster to go from usdt -> crypto than traditional fedbux

>> No.24660730

enough about fuking thether whales

are these news any thing to care about?? or is it just thhe same mumbebumble bullshit as in 2017

>> No.24660760

>>24660555
They MIGHT. I'm sure there's a way to make that look reasonable (ie pick a shitcoin and claim you bought low and sold high like a genius) and say you had to trade strange because it wasn't listed on the exchange. Again, they're not going to investigate the blockchain to check on you. Trying to litigate that would be a nightmare with the average american on the jury.

>> No.24660811

>>24660730
There isn't a simple up or down answer since they get to pick the date to announce the fud

The only thing that's certain is longing volatility when it happens

>> No.24660845

Tether whale here. Kind of nervous. What's my next move?

>> No.24660915

>>24660811
what are the practical implications? so you wouldn't be able to trade against the dollar anymore unless the crypto exchanges make it against the real dollar?

how would the exchanges go to de-phasing the stablecoins?

feeling like a retard not knowing

>> No.24661154

>>24660915
No one has a clear picture of the full implications yet anon
Only thing we know is that the fed doesn't want a private company to have control over a derivative of their own money without oversight

>> No.24661250

>>24660915
USDC is positioning itself as a regulator-friendly pretty well so far. I suspect there will be a huge exodus from USDT to USDC soon. I'm not sure what will happen with DAI though.

>> No.24661298

>>24660323


Where do you get dec 14th from?

>> No.24661338

>>24660323
>Remember to convert to real fiat once you see the btc megapump
if you wanna get taxed that is