[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 6 KB, 200x200, tether.png [View same] [iqdb] [saucenao] [google]
4791961 No.4791961 [Reply] [Original]

Legit question here, considering the only way to still get value from your tethers would be to buy BTC. There is literally no way to get USD with your Tethers therefore there can also be no panic sell away from crypto, or am i missing something here?

>> No.4792009
File: 10 KB, 250x246, 1474393948931.jpg [View same] [iqdb] [saucenao] [google]
4792009

>>4791961
you're just pretending right

>> No.4792105
File: 5 KB, 166x249, 1478785665158s.jpg [View same] [iqdb] [saucenao] [google]
4792105

>>4792009
Sorry i'm brainlet nocoiner

>> No.4792294

>>4791961

That's what I'm thinking too. Of Tether turns out to be a scam, the only people who lose their money are Tether holders

>> No.4792319
File: 8 KB, 226x223, eeee.jpg [View same] [iqdb] [saucenao] [google]
4792319

>>4791961
>>4792294

>> No.4792404

>>4791961

I’ve been wondering the same, Tether only accounts for like 2% of BTC Mcap and that’s considering it all goes to BTC.

>> No.4792443
File: 5 KB, 211x239, hur.jpg [View same] [iqdb] [saucenao] [google]
4792443

>>4792404

>> No.4792471
File: 53 KB, 750x418, tether bubble.jpg [View same] [iqdb] [saucenao] [google]
4792471

>> No.4792475

>>4791961
>>4792294

just wow. yeah you guys will be fine

>> No.4792512

>>4791961
Yall faggots gotta realize that new sister what moves prices, its normie reactions to the news. That's why, for example, if a stock reports good earnings it can still tank the enzr day.

It doesn't matter that no one loses money, how do you think normies will react when they find out that the only thing pushing up the price of bitcoin was fake printed money?

They will panic sell like crazy because it will mean this whole bull run from 6k is fake

>> No.4792523

>>4792471
accurate. btc won't crash as hard as everyone is expecting since this brings real $ into the market as well

>> No.4792565

>>4792512

Do Normies even know what Tether is? Nobody cared when millions of Tether was "hacked" either.
Normies don't care about technical details. News wouldn't cover the conspiracy only that an "altcoin turned out to be a scam"
Bitcoin would be stable and Altcoins would tank

>> No.4792612

>>4792471

Yfw this doesn't matter because nobody is going to ever cash out

>> No.4792626

>>4792565
Ether's price didn't even flich when the parity hack happened... The last one, I man. The first one made it fall like 40 bucks for a day and then up again.
This should tell you that the market is heavily manipulated and news are only taken into account when they suit the narrative.

>> No.4792658

>>4792565
I do believe that one mainstream news report about how one exchange is printing money and using it to skyrocket bitcoins price will spook plenty of normies. Nobody cared when that stuff happened because not enough normies were in bitcoin. Right now all eyes are on it, I see 5 articles a day about how it keeps hitting new highs

>> No.4792673

>>4792612
I cashed out yesterday.
BTC may crash, or it may continue to rise on this crazy trend for years. Either way, I'm sitting comfy with my gains, waiting and watching.

>> No.4792871

>>4792565
Bitcoin dropped from $8.3k to $7.8k when the hack was made public. It quickly recovered because Tether just issued new USDT 50m as if nothing had happened.
What do you think will happen when normies find out that Tether is probably a fraud and Bitfinex will not be able to pump Bitcoin price by issuing new USDTs anymore?

>> No.4792897

>>4792612
cashed out last night as well, made a fat stack and plan on getting back in with a portion once the dip sets in. lets see how this tether news plays out.

sell the news, buy the rumours

>> No.4792902

>>4792471
The Bitfinex guys who own tether could achieve the same effect more covertly without tether using deposits of clients to put in orders on their exchange pushing the price up through arbitrage.
BCH has orders of magnitude more pumping power than tether. For some reason (pumped by scammers) the market cap for this worthless token is $25 billion bringing $25 billion worth of purchasing power into the crypto economy causing higher demand for popular tokens likt btc. $25 billion is more than $500 million.

>> No.4793164

>>4791961
If tether is revealed to the general public to be a massive scam, they will lose confidence in all crypto related activities. Right now only nerds realize what is up with Ifinex and their various businesses, which include Bitfinex and Tether. Don't hold tether and you'll be fine.

>> No.4793279

big money isn't stupid
big money moves most of bitcoin
big money already knew about the tether situation
all the normies combined don't move a fraction of what big money moves, not yet, normies are barely yet in the game.

so fretting about how the normies will react to this and that, while it has value in speculation, should be taken with a grain of salt. at this stage in the game we need to focus on big money, and they get the rumours fast, they know whats happening, and i want to follow them and i don't think they care about normies too much when they know that they are the ones driving the market.

but maybe i'm wrong, i just assume most of the btc is moved by an extreme minority of the holders

>> No.4794024

>>4792471
full version of this image?

>> No.4794065

>>4793279
>Big money isn't stupid
I thought this meme died in '07.

>> No.4794247

>>4791961
Say you're you. Say you've got $500 to spend on crypto. You invest the whole $500. You want to invest more though. Afterward, you'd have to deposit more money.

Now say you invested the $500. You want to invest more. You don't have any more money, but you do have a fake-money-printing machine that nobody really questions. So you just print however much money you want and invest.

Pretty much Fed Reserve 2.0 but without the interest due, and also the goal is to boost up BTC $ to convert your fake money into actual dollars through selling BTC.

Ask any deluded yet savvy crypto individual... the goal isn't to make dollars... it's to accumulate more BTC. Tether is the cryptovirus.

>> No.4794307

>>4792626
Or it should tell you that the market is so big nowadays that individual incidents don't move the price that much.

>> No.4794501
File: 66 KB, 372x276, 14739.jpg [View same] [iqdb] [saucenao] [google]
4794501

http://fortune.com/2017/12/05/bitcoin-btc-price-usd-tether-limited-bitfinex/

>> No.4794554

>>4794065
they knew what they were doing. they knew the risks. they didnt care. they got bailed out anyways. they gambled and lost and laughed and broke the law and got away with it. they made money for a while and that's all that matters, as long as the roof comes crashing down on someone elses head they don't care. and even if the roof does come down on their heads too, as long as it crushes us more they can still buy us and trade our lives in weird ways on strange markets