/biz/ - Business & Finance

[Anonymous No.25455808]

We should all be quite terrified - more than 80% of Bitcoin volume in the past day is fueled by a proxy currency that you cannot verify.

No, not for ourselves, as most who will see this understand the risks, but for our friends and relatives who do not.

[Anonymous No.25455838]

there is nothing we can do but limit our exposure and hold our own keys

[Anonymous No.25455839]

don't give a shit
tether printer go brrrrrrrrrrrrrrrrrrrr

[Anonymous No.25455860]

>>25455808
Do you have a graph of the flow of fiat into Tether, or the flow of alts into Tether?

[Anonymous No.25455864]

>so.... short on the 14th?

[Anonymous No.25455951]

just bought 30k bags of tether, this thing could be huge

[Anonymous No.25455982]

>>25455951
>just bought 30k bags of tether, this thing could be huge

[Anonymous No.25456111]

>>25455808
>tether springs out of nothing

[Anonymous No.25456151]

>>25456111
yes

[Anonymous No.25456194]

i lived 10 years in a country that pegged its currency 1 = 1 to USD.
Needless to say it didnt not stop spending on "muh social programs" and juicy state jobs
some day the music stops, just make money while it lasts

[Anonymous No.25456202]

>>25455860
>Do you have a graph of the flow of fiat into Tether
Yes, right here

[Anonymous No.25456269]

>>25455860
tether has never shown any proof of backing

[Anonymous No.25456492]

>>25455808
tether is the federal reserve of crypto all crypto is an exit scam

[Anonymous No.25456552]

lmao faggots really trying to FUD anons on tether hoping for BTC dumps. BUY NOW or you will be ETERNALLY priced out.

[Anonymous No.25457303]

>>25456202
source for current graph? coinlib doesn't seem to have it anymore

[Anonymous No.25457404]

>>25456269
nevermind, found it https://coinlib.io/coin/BTC/Bitcoin

[Anonymous No.25457499]

>>25455808
>reposting tether fud thread #9364628
Yeah, I'm thinking bullish

[Anonymous No.25457575]

>>25457499
It took nearly a decade for the SEC to crack down on XRP. It's totally within the realm of possibility that Tether has been a scam for years and its reckoning just hasn't arrived yet. i.e., that Tether fud from 2017 might have been right all along
I'm not a bear, by the way, still mostly bull, but I'm concerned

[Anonymous No.25457651]

>>25455808
Time to sell. Jesus this is massive. My cousins/uncles have started to ask me about btc. I keep telling them not to buy the top and wait for a correction. One cousin bought at 29k and has convinced others not to listen to me :(

[Anonymous No.25457720]

>>25457651
you need to wait for them to fomo in and the early normies to look like geniuses and start shilling. Then the final blow off top will happen. That could mean BTC $50K+ usd

[Anonymous No.25457721]

>>25457575
>Is the Fed doing QE bearish for stocks?
No.

>Is Tether doing QE bearish for bitcoin?
No.

Both are indicative that there is manipulation which is not in your interest. In Bitcoin's case, it is meant to be "digital gold". The economy has been made so much worse that people are looking for alternative money, and it has to be something that is within the control of the authorities. Crypto in general fulfills that role perfectly.

[Anonymous No.25457744]

>>25455808
Tether dying will be horrendous in the short term but it'll be very bullish long term. Crypto has been a wild west for too long, for real money to be comfortable going in it needs to be regulated.

[Anonymous No.25457778]

Explain to me this, retards...

Why shouldn't I just switch from USDT to BUSD or any other pegged coin?

[Anonymous No.25457796]

>>25457721
It's bearish if the SEC cracks down on it for market manipulation. Fed can do QE coz they have the backing of the US military. That shit would be illegal otherwise

[Anonymous No.25457827]

>>25457778
Because tether makes up 80% of all trading pairs. Tether dying is the equivalent of a rug pull. Nobody can sell into fiat without massive slippage

[Anonymous No.25457888]

>>25457827
My point is if I trade all my coins for BUSD right now, I will maintain my USD value(aka real world value) as all the shitcoins plunge.

[Anonymous No.25457903]

>>25457744
retard

>>25457796
Yeah that would be bearish, but that's besides the point. The only reason the fed can do QE is because even with the money printer go brr meme widely spread, nobody really understands why that's bad, they think it's just printing money not that it is being and printed and spent by someone else when they didn't work for it.

[Anonymous No.25458009]

>>25457721
The big difference that you're ignoring is that the people printing USD have nukes, and they don't like it when other people intrude on their little operation.
The people printing Tether have, at best, social media outrage about much regulations.

[Anonymous No.25458013]

It's going to be epic. Coiners have been so cocky for years. They will have to look into the mirror knowing they lost it all because they ignored the red flags.

[Anonymous No.25458162]

>>25456552
I'd buy again if BTC is not backed by USDT, instead I want BTC to be bought by USD. If you want to fight the fiat, do it right.

[Anonymous No.25458262]

>>25458009
Yeah but they can't nuke every gold and silver owner in the US. They can however easily shut off an individual's internet connection and crypto access

[Anonymous No.25458582]

>>25455808
The key word here is "Money flow"

As in volume. In other words, trading and arbitrage.

In other words, the amount of exchanging between USDT and BTC is insane, because of traders constantly going in and out of BTC and USDT. Also because of bots doing exchange arbitrage.

Also, Tether is essential for ETH, and Bitcoin traders (who can fuck off). It isn't essential for Bitcoin. Check the market caps of Bitcoin and USDT (or any stablecoin). Even when Bitcoin stagnated and dumped, the stablecoins went up. Why? DeFi. Also, the '17 bullrun didn't have any issues without Tether.

Anything else?

[Anonymous No.25458914]

>>25458582
Yes good points about the meaning of money flow, but you are wrong about '17 bullrun. There are arguments that Tether printing and trading on Bitfinex accounted for half of the increases in price of Bitcoin in late 2017

[Anonymous No.25459057]

>>25458914

[Anonymous No.25459163]

>>25458914
>>25459057

I can't argue against conjecture. You're welcome to rationalize the price of Bitcoin however you want.

[Anonymous No.25459306]

>>25455808
You retarded faggots will still be spamming the tether FUD when BTC reaches $100k. Fucking hopeless.

[Anonymous No.25459370]

>>25455808
poor get poorer. NEETS get richer.

i'm just accumulating API3.

[Anonymous No.25459525]

>>25456111
Trips of Truth, right fucking here folks.

[Anonymous No.25459563]

>>25457651
Based. The jew is beat

[Anonymous No.25459690]

>>25459057
i fucking knew it

[Anonymous No.25460249]

>>25457721
Yeah it's fucking digital gold. Bitcoin should not significantly outperform gold. It should have a convenience premium because it is easy to buy, sell and store. Paper gold is not a good hedge and physical gold is a hassle to liquidate. If it's exploding 100% or more above gold it will eventually revert to the mean.

[Anonymous No.25460707]

>>25457721
The MSM is already using the words "digital gold" to describe Bitcoin.

[Anonymous No.25460727]

>>25459163
You can obviously make the argument that at least some of Tether printing is related to actual usage, i.e., correlation with increasing price doesn't necessarily mean it causes increasing price. Could just as easily be real demand.
But this isn't mere conjecture. The claims are credible: https://www.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.154.0.pdf

and
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3195066

[Anonymous No.25460748]

>>25460249
>>25460707
Completely sidestepped the point

[Anonymous No.25461353]

>>25460748
I mean I agree, there is manipulation at work.

[Anonymous No.25461664]

Not selling. Diamond hands here. To the moon!