/biz/ - Business & Finance

[Anonymous No.7026156]

HAPPENING

[Anonymous No.7026219]

It will create a dead cat bounce of unseen precedent which might signal the morons around that crypto isn't dead yet and bring even more stupid money to the game eliminating the effect of tether crashing

[Anonymous No.7026230]

>>7026156

Tether falls.
Takes all crypto with it.

I traded all my positions to FIAT. It was fun while it lasted.

This is my stop boys. Enjoy the ride.

[Anonymous No.7026284]

ITS THE END NOW BOYS, FOR REAL
you guys are pathetic, I hope you aren't FUDing larpers and you actually did cash out

[Anonymous No.7026377]

>>7026156

[Anonymous No.7026436]

>>7026156
Why is he only mentioning BTC?
This will affect everything

[Anonymous No.7026453]

once tether is gone, crypto will be stronger than ever. unstoppable momentum. fomo like we have never seen.

[Anonymous No.7026487]

luckily jibrel is coming just right on time to save us. everything is going according to plan

[Anonymous No.7026492]

>guys our tether is worth shit
>quick trade for btc before anyone else noticse
>bitcoin jumps to 50k
>bitfinexed guy hangs himself
>tons of /biz/raelis ejaculate of joy
>wallstreet shorters get blown the fuck out

cap this shit you weak handedfaggots

[Anonymous No.7026500]

Here is my solution anons, buy HelloGold (HGT)

[Anonymous No.7026509]

>>7026487
/thread

[Anonymous No.7026520]

Okay, let's say Tether does not have 1:1 USD backing. Then all Tether holders will supposedly try to trade their USDT for any coin. Then what happens? Will USDT price tank? But why should it, if there are less USDT existing wouldn't it be easier for Tether to back it 1:1 in their reserves ? Can someone explain how this works, do USDT tokens get burnt after anyone sells them? Surely if this was the case then any exchange listing USDT will have a collossal crash...

[Anonymous No.7026537]

>>7026219
Unironically this, all we need to do is keep feding the blockchain and thr dollar will slowly start to die

[Anonymous No.7026540]

>>7026487
>Lets replace tether with someting just like tether
>I promise it is audited
hahahahahahahahahahahahahahahahahahahaha
Get a load of this delusional moron

[Anonymous No.7026572]

>>7026492
50k to buy on tether exchange 5k to sell on normiebase

[Anonymous No.7026577]

How will this harm bitcoin in a direct and major way? It seems to me like only tether holders at the time of collapse will get BTFO

[Anonymous No.7026590]

>>7026492
I wish. More likely:
>the few exchanges that offer USD trading pairs get overwhelmed
>lack of real USD in the system causes systemic market crash as people are willing to sell at any price
>bloodiest day in crypto history
>followed by a massive bounce

[Anonymous No.7026603]

>>7026453
Release the beast or cut the life support?, place your bets

[Anonymous No.7026617]

>>7026487
Very weird that the tether FUD is increasing. Just a coincidence ;)

[Anonymous No.7026623]

nothing will happen. screencap this

[Anonymous No.7026630]

>>7026577
because the bitcoin price is pushed up by tether. when tether is gone the price will fall really badly

[Anonymous No.7026637]

>>7026487
>>7026509
we already have DAI, use bibox exchange

[Anonymous No.7026657]

>>7026630
>>7026623
On the opposite spectrum you could buy tether and enjoy your free gains as it goes back to 1 dollar

[Anonymous No.7026679]

>>7026590
>implying anyone will be able to sell
coinbase and friends will just go into "maintenance"

[Anonymous No.7026681]

>>7026577
Do you expect that once tether dies, exchanges dealing in tether will just open the floodgates to let normies withdraw their funny internet money they fomo'd into because their dollar replacement died? Best case scenario is, that the monkeys on tether exchanges get trapped while the no coin normies interpret the price rise as signal to buy crypto and flood non tether exchanges with dollars. This scenario needs a press holding their feeds and not put one article after the other about crypto being a scam because some scammers thought it was a good idea to peg some funny internet money to the dollar to give monkeys a feeling of security

[Anonymous No.7026733]

>>7026156
How does it make BTC collapse? Everyone will exit tether to get into BTC. BTC will pump like crazy

If we need 15M for every 1k price movement and tether has about 3 billion printed than we will move 200k in price LOL

[Anonymous No.7026735]

>>7026630
Why would it? Even assuming BTC was artificially inflated to it's current level with purely fake money, we still have a market at the current price and if there are buyers at the price, than past events wouldn't matter.

All that would matter is if there are buyers now, which there are.

[Anonymous No.7026775]

>>7026637
dai has no fucking chance against jibrel. this is a free market and free competition and jibrel will fucking slaughter that shit, makerdao cannot compete with 10b$ of arab money. sell your dai bags and dont tell me i didnt warn you

[Anonymous No.7026781]

Someone help me understand the yelling and screaming around Tether.

AFAIK even BANKS aren't 100% solvent, they're only have about 20% of funds with them at any time. I don't understand why everyone is hyping up the possibility that Bitfinex doesn't have the amount of Tether they say they do. Most of the biggest exchanges trust Tether and you'd think they have enough insight into the situation to know if it is safe to do so.

In my opinion, it seems like something nocoiners are obsessing over, praying for a crash so they can finally buy in, or those who hate crypto like "buttcoiners". Most of the Tether fud I see comes from those types and the reddit detectives who think they're onto something.

So if we don't even expect our banks to be 100% solvent, why is Tether such a massive deal? People keep saying "oh boy, once we find out not every single tether is backed by a USD EVERYTHINGS going to go crashing down!" I'm not saying this isn't a big deal, but can some anon tell me where I'm wrong in seeing this as just desperate FUD?

[Anonymous No.7026782]

>>7026735
^Continued:

point is there are no fundamentals to judge the price against. It is purely demand driven so I don't see why it woudl crash of there is sufficient demand.

[Anonymous No.7026811]

>>7026781
Yes. Full capitalization only matters if there is a run. IDK why people are assuming there will be a run.

[Anonymous No.7026814]

>>7026781
thats the problem, tether is operating outside of ((thier)) laws, but at the same time no one is gonna help bitcoin if tether collapses.

[Anonymous No.7026815]

>>7026775
sell my dai bags? they are always worth $1 lol

[Anonymous No.7026820]

>>7026492
Once people think tether is worthless they won't be able to sell it for a reasonable amount of tether. The USDT pair would explode but the USD pairs wouldn't.

Eventually nobody would be willing to sell their BTC for tether.

[Anonymous No.7026821]

>>7026781
Get a load of this retard
Really take your funds and stop throwing money at stuff you don't understand cancer boi

[Anonymous No.7026835]

>>7026436
BTC is the only Cryptocurrency that exists to normies.

[Anonymous No.7026848]

>>7026156

whats the safest investment when this happens?

ETH? or ETH + few alts?

or only fiat?

[Anonymous No.7026849]

>>7026781
another thing, the audit was called off, they were meant to present one but it isnt happening, they keep promising it, but nothing has happened to prove tethers are real.

[Anonymous No.7026863]

>>7026848
hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha

[Anonymous No.7026883]

Well boys, the memes have been fun. I'm down bigly over the past weeks so I might as well lose it all. I'll be here on the other side.

[Anonymous No.7026894]

>>7026781
Banks are regulated and can be bailed out by government
Also they don't print money themselves anymore, but when they did it wasn't unusual for a bank to collapse with their money going to 0

[Anonymous No.7026898]

>>7026156
lul

[Anonymous No.7026922]

>>7026811
>full capitalization was spelled out in tether whitepaper fag
Each tether issued will be backed by the equivalent amount of currency unit (one tetherUSD equals
one dollar). By combining the above crypto and fiat accounting processes, we conclude the
“Solvency Equation” for the Tether System.
○ The Solvency Equation is simply TUSD = DUSD.
○ Every tether issued or redeemed, as publicly recorded by the Bitcoin blockchain will
correspond to a deposit or withdrawal of funds from the bank account.
○ The provability of TUSD relies on the Bitcoin blockchain as discussed previously.
○ The provability of DUSD will rely on several processes:
■ We publish the bank account balance on our website’s Transparency page.
■ Professional auditors will regularly verify, sign, and publish our underlying bank
balance and financial transfer statement.
>that last point there is what turnt out to be not true
>bank runs happen when people no longer believe bank is solvent

[Anonymous No.7026928]

ITT: another episode of:
I traded all of my dollars for Tether™ dollars in order to buy shitcoins at 19K but I'm so confident™ that it's totally legit and I didn't get ripped off that I feel the need to lash out in autistic rage at anybody who suggests I got scammed.

[Anonymous No.7026948]

>>7026894
shitty FUD

[Anonymous No.7026988]

>>7026590
>as people are willing to sell at any price

sell what
sell my tethers?

how do i sell my tethers
oh yeah thats right, by buying bitcoin

[Anonymous No.7026992]

>>7026849
I wonder why they would call for an audit in the first place if they knew they would fail it, unless it's a ploy to "buy more time", which sounds like childish logic to me.

People constantly call Bitfinex shady but people rarely point out what it is. One red FUD flag to me is that they no longer do trading in the US though.

[Anonymous No.7027044]

>tether crashes
>everyone rushes to exchange their worthless tether for bitcion asap
>????bitcoin prices go down???

tether isn't gonna hurt anyone than the retards that hold it long term. bitconnect had a mcap triple tether and didn't do shit to the market when it disappeared

[Anonymous No.7027059]

>>7026733

what is maths?

[Anonymous No.7027071]

>>7026928
A lot of millionaires got scammed it seems

[Anonymous No.7027075]

>>7026992
>>7026156
pls no we were just recovering

[Anonymous No.7027090]

>>7026617
gee, i wonder who could be behind all these posts...

[Anonymous No.7027105]

>>7026377
>bitcoin bubble
Who is this clueless retard?

[Anonymous No.7027112]

This fud is planned attack by the US banks, there's no other explanation for (((Roubini)))'s involvement. What's going to happen is arbitrage over the week brings prices on bfx down, bringing usdt back to ~$1 and panic selling brainlets are going to lose.

[Anonymous No.7027124]

>>7027044
but people always say "but USDT is propping the price of BTC up" but that doesn't make sense to me.

So which is it /biz/, Wallstreet manipulators, normies or USDT that's pumped BTC? There's no solid theory on how Tether is proping up BTC's price, and the people saying it is are nocoiners or people who spend all day on /buttcoin/ reddit, or so it appears. That and some guy on twitter who's sole claim to fame is professionally fudding Bitfinex.

[Anonymous No.7027166]

>>7027044
>holding Tether long term

Who the fuck does this?

[Anonymous No.7027179]

>>7027044
I really don't understand people that don't get that someone needs to be selling something for tether in order for you to buy it.

Reality is that if and when tether is exposed anyone left holding Tether will be holding bags and BTC will crash as people try to escape back to USD or whatever fiat.

[Anonymous No.7027184]

Who cares if tether collapses? It's only worth 2 billion while BTC+ETH is worth 300 billion. BitConnect fell and it was worth 2 billion. It didn't crash the whole market.

[Anonymous No.7027220]

>>7027184
This isn't how it works, filter coins by volume. Look how many exchanges use USDT and the volume that is inside of them. If Tether gets fucked up so does everything within Crypto.

[Anonymous No.7027221]

>>7027071
>Millionaires back it so it must not be a scam... like AAA sub-prime mortgage backed securities
fucking retard.

[Anonymous No.7027244]

"The boy who cried Tether and was a filthy nocoiner."

[Anonymous No.7027279]

>>7027184
1/4 of btcs daily volume is in tether

[Anonymous No.7027287]

Has anybody been here longer than a month lol. This all started as tin foil conspiracy on 4chan and spread into normieville because of all the December January newfags

[Anonymous No.7027305]

>>7027184
see the point here is that BTC+ETH is worth an imaginary 300 billion, while tether is worth a real 2 billion.
because its value is/was pegged to the dollar, it didn't increase in value with the speculative bubble
while the market cap of BTC+ETH is imaginary, it is only the amount * current price. If any significant portion of that amount tried to actually cash out, the market implode.

[Anonymous No.7027304]

>>7027287
people have been calling tether a scam since it first came out

[Anonymous No.7027349]

>>7027244
You must have just woken up.
Allow me to elucidate my friend.

>Shortly after it was reported Tether dropped their relationship with the auditor 600,000,000 USDT inexplicably appeared on the market.
>Within an hour of that on all of the USDT exchanges there was a massive buying rally of BTC.
>This rally did not translate over to fiat exchanges.
>The price disparity between fiat exchanges and usdt exchanges flirted with the 1k mark at one point
Really makes one ponder.

[Anonymous No.7027354]

>>7026156

>"m-muh Tether"

the filfthy no-coiner mutters under his breather, in his 10th attempt of the day to convince himself and others that selling at the ATL was, in fact, the correct decision

[Anonymous No.7027356]

>>7027305
BTC/ETH prices will only implode if the volume of those coins is as a % percentage low enough that those selling/liquidating the asset is enough to fuck up standard volume

[Anonymous No.7027376]

The crash wouldn't come from the collapse of Tether it would be the collapse of Bitfinex for being the one to issue it.

Bitfinex is too big to fail in crypto. The profits they are making on a daily basis aren't worth the risk of printing a couple billion fake dollars, they could make that in a couple months of healthy operations and if the crypto market continues to grow they will only make more.

The only way Bitfinex doesn't have the USD to back up Tether is if it is some CIA tier conspiracy to bring down and discredit crypto.

[Anonymous No.7027387]

>>7027349
>Shortly after it was reported Tether dropped their relationship with the auditor 600,000,000 USDT inexplicably appeared on the market.
CME was just updating its circulating supply.
>This rally did not translate over to fiat exchanges.
Yes it did.
>The price disparity between fiat exchanges and usdt exchanges flirted with the 1k mark at one point
Wrong.

[Anonymous No.7027400]

>>7027354
this

[Anonymous No.7027416]

>>7027387
Tether shill plz. Nobody with an IQ over 60 believes that your post is anything but PR garbage.

[Anonymous No.7027427]

>>7027376
>Gox was too big to fail
You are still under the impression this market is regulated and that tax payers will bail out tether fans. lol

[Anonymous No.7027435]

>>7026540
Except it's audited by PwC.

[Anonymous No.7027471]

>>7027376
>bitfinex is too big to fail in crypto

How can this be a thing? If Tether fucks up, every exchange that trades in it ESPECIALLY those with a USD/USDT pair will get collectively ass raped by every dick in Detroit at the same time. This is bleed out to everywhere in crypto

>>7027435
What is PwC? Source

[Anonymous No.7027496]

can someone explain to be why the prices vary so much?

[Anonymous No.7027534]

>>7027496
>Vary so much
Max 1-2% difference

When tether was 1,03 USD nobody really cared. I love the tether FUD campaign:)

[Anonymous No.7027541]

>>7027416
I'm not a shill, I suspect something illegal/shifty is going on inside bitfinex/tether too but posting lies to prove it isn't going to help anyone is it? In fact it goes against your cause because when people find out you've been lying it'll backfire just like "RIPPLE ON COINBASE" shit.

[Anonymous No.7027554]

>>7027416
Youre a retard

[Anonymous No.7027560]

>>7027435
>Assumption
After tehter dies the same shit with a different name will help to reassure investors
>Reality
3/4 of investors are morons who get their infos from anonymous Vietnamese log rolling enthusiast forums and lamestream media.

It might work out for the next cycle, which will not start before September 2018, more probable February/March 2019

[Anonymous No.7027578]

Has anyone managed to cash out tethers for actual dollars?

[Anonymous No.7027579]

>>7027387
this. disregard frogposting nocoiner
>>7027184
while I do think BTC would recover if Tether collapsed, I think it'd be much bigger than BitConnect.. It's also hard to know the effect BCC had on the market because it crashed while the whole market was crashing.

[Anonymous No.7027584]

>>7027496
nice post

>>7027534
its a troll

[Anonymous No.7027587]

>>7027427
>>7027471
I didn't mean that they would get bailed out it was just an expression I guess to emphasize how important and large of an exchange Bitfinex is.

For them to throw away such a profitable business that could eventually be the next NYSE to make a couple billion dollars in fake money would be beyond retarded from their perspective when they are already making so much fucking money. There is no motive on their end.

[Anonymous No.7027632]

>>7027587
I suppose you're right that it's in the best interest of Bitfinex to not have their exchange fail, and the same would apply for any other exchange using USDT.

if anyone has a legit response to this I'm curious what it'd be

[Anonymous No.7027642]

>>7027534
>1.03

thats 3% higher.

I would have been complaining if i knew tether was doing this the entire time.

but it looks like it started happening mid 2017?
why are they doing this? why isn't it 1:1?

[Anonymous No.7027678]

>>7027587
you are a perfect example of the idiots who bought our bags, while smart money cashed most of their funds out and reinvested in assets and commodities with actual growth.
>Gox will be the next NYSE
>Believe me
>I have One Million dollar at Gox
>They will never endanger their business model
>Think about the fees
>THE FEEEEEEEES

[Anonymous No.7027681]

>>7027642
Because of fucking supply and demand, certain exchanges at certain times value "cashing out" to USDT higher than people at another exchange so the price may be higher or lower

[Anonymous No.7027697]

>>7027642
Bitfinex lost retail banking in may which caused a panic

[Anonymous No.7027704]

Preemptive SFYL for all Tether bagholders.

[Anonymous No.7027707]

>>7027678
Is Gox really comparable to 2017/2018 level of crypto exchanges, the market has grown so much in the last 3 months not to mention since when Gox died

[Anonymous No.7027710]

>>7026572
This, just look at the price difference between finex and cuckbase
http://bitcointicker.co

[Anonymous No.7027751]

Brainlet here so can't comment. But what does bother me is that Bitfinex doesnt come out and put this FUD to rest.

[Anonymous No.7027754]

>>7027642
Because demand and supply are making the price.

In dips the demand is higher and ist more worth because supply is less until enough tether are printed to correct it out.

And vice versa. That is the short Term answer

[Anonymous No.7027769]

>>7026848
>having to ask the question

[Anonymous No.7027787]

>>7027707
Keep reassuring yourself. And don't forget to "invest" more Fiat into crypto
>ib4 my crypto portfolio is worth multiple times my non crypto wealth why should I put more money in it?

[Anonymous No.7027790]

>>7026781
Most early adopters of crypto got in because they despised bullshit like fractional reserves that banks utilize. Tether operating like banks is a huge negative, particularly when they have not even paid the right people off.

[Anonymous No.7027820]

>>7027678
I've already cashed out 4x my initial investment with about 50k still left in crypto but thanks for your educated respondse moron. How fucking dumb are you? Bitfinex could:

>print 2 billion dollars in fake tether
>completely destroy an extremely sucessful and profitable business
>leave western society and live in some dominican shithole or be arrested for lifetime for counterfitting USD

vs.

>let business operate normally for a couple months, make 2 billion dollars
>flip the company to Cuban or some other venture capitalist for 10~ billion

And Mt. Gox didn't exit scam they got fucking hacked you retard, it is a completely different subject. Kill yourself.

[Anonymous No.7027827]

>>7027787
I'm genuinely asking, not trying to talk shit.

[Anonymous No.7027831]

Interesting. A guy that fucked himself over selling BTC for 1000$ (and later begged bitfinex to give it back) and guy who hates crypro are at it 24/7.

I think they go away with couple of mill, but to think they dont even have 1.5b to pay off is comedy gold. They had USDT backed by 450m $ (according to audit) in Sept before huge rally even began.

[Anonymous No.7027839]

>>7027751

And what are they supposed to say? They already dug their grave with the last shitty excuse only the most naive retards could buy. Their reputation is gone. Their auditors ran for the hills and deleted everything related to bitfinex from their website which pretty much proves they're guilty as fuck.

[Anonymous No.7027850]

>>7027678
Pussy

[Anonymous No.7027854]

>>7027820
Mt gox was also using fake bidding/money to bid up the price.

[Anonymous No.7027875]

>Tether fud going to 11
>BTC goes up
???

[Anonymous No.7027896]

>>7026679
This kek, or the site will crash. Liquidity is still an issue in crypto.

[Anonymous No.7027971]

>>7027875
It's only pumping because people are getting rid of tether and it's tanking on cuckbase because people are cashing out.

[Anonymous No.7028009]

>>7027820
Thanks for pointing out how new you are moron. The funny thing with all you new fags is, that you know maybe 2% of what happened with gox. Stuff you read on CNN. No one remembers the micro implications. And no one will tell you about it, because it is way too much worth to share it with new fags
>>7027827
>Please good sirs stop pointing out that bitconnect is a scam
>I beg you sirs I need the monies to feed my children
>Stop sirs

[Anonymous No.7028012]

>>7027971
Seems to be holding stable on coinbase fine

[Anonymous No.7028019]

>>7026377
>everyone is selling tether to get back in the game
>liquidity availability limited because not printed on demand but only when they get USD deposits, so prices drop relative to the rest of cryptos because more people trying to get out than get in
>somehow something this basic mechanism proves it's a scam
How can people be this pants on head retarded?

[Anonymous No.7028049]

>>7027875

What do you not understand anon? Tether is a hot potato made of thin air, people are waking up and anyone with a brain that doesn't want to get burned holding it is now selling it for more reliable cryptos.

[Anonymous No.7028086]

>>7028009
Read my earlier posts where I was saying Tether is shit or was saying it having issues will ass rape crypto

[Anonymous No.7028105]

>>7028019
They are retarded because guy who sold btc at 1000 and begged bitfinex to give it back is trying to crash the price, while mr.doom ((roubini)) is at it for years, looking for potential fuckups to stick it up to crypto. His last big 2016 prediction fell flat on its face (global economy crash) so he found crypto. There is a reason why they call him dr.doom

[Anonymous No.7028114]

>>7028049
So who is acquiring the tether then? Two sides to every trade.

[Anonymous No.7028141]

>>7028105
This Roubini person is absolutely rectally ravaged over crypto looking at his twitter feed. It looks like he's Jewish so it's understandable.

>They are retarded because guy who sold btc at 1000 and begged bitfinex to give it back is trying to crash the price
what? is this @bitfinexed? what is the background here

[Anonymous No.7028147]

https://www.youtube.com/watch?v=2XHYkaSemqc

[Anonymous No.7028158]

>>7028114
People buying it on exchanges or Tether when tiny amounts are sold on the Tether site

[Anonymous No.7028174]

so circulating tether supply is now 2.2b? wtf wasnt it 1.6b yesterday?

[Anonymous No.7028175]

>>7026781
>MUH FUD
>ITS FUD GUISE
>FUGGEN FUDDERS!
>FUD
>ITS JUST FUD GUYS BUY BITCONNECT!

[Anonymous No.7028237]

[Anonymous No.7028264]

Four things that will cause a crypto crash:

1: Regulation
If regulators in the U.S., Europe or elsewhere get together and ban exchanges and other companies that provide services to the crypto ecosystem, that would have a hefty effect on cryptocurrencies themselves, which cannot really be banned.

Looking at China, which "banned" cryptocurrencies in the summer of 2017, there's one clear result: People and companies simply moved somewhere else. And instead of the market collapsing it rallied. Would the U.S. or Europe have a more dramatic effect? I am pretty sure they would, but how likely is the entire scenario of one of the major Western economies banning cryptocurrencies? After bouncing this idea off a lot of people that I trust, I would give it a 10 percent chance in 2018, leading to a decline of about 50 percent from the market top.

Continued--->

[Anonymous No.7028266]

>>7027534
If you think 2% difference between exchanges isn’t a big difference or concern you must be novice investor or just plain stoopid or worse, a paid shill to keep the noobs in check
>learn2trade

[Anonymous No.7028278]

>>7028141
https://mobile.twitter.com/btcvix/status/932109743652524033

[Anonymous No.7028293]

>>7028264

2: Exchanges
Prior to 2014, the crypto ecosystem saw one exchange accounting for over 70 percent of all trading volume: Mt. Gox. At the beginning of that year it suspended trading, initiating an 80 percent crash of the entire crypto market from its high.

Some worry that we could see something similar today, but trading is much more distributed and hardly any exchange owns more than 10 percent of the entire trading volume according to CoinMarketCap. There are, however, some significant exchanges that do play an important role: According to Hackernoon, Coinbase and its backend solution GDax account for one of the largest exchanges to bring fresh fiat money into the ecosystem. It also boasts some of the largest user bases worldwide.

So a problem to the ecosystem could arise not from a hack, but rather from the cessation of fresh money to keep feeding the growth.

On the crypto-to-crypto side, we have an even scarier picture: One of the largest exchanges by trading volume is the only 6-month old exchange Binance, sometimes adding over 200,000 new users per hour.

While I am NOT implying that any of the mentioned exchanges do a bad job, I am just highlighting some of the risks involved. What if Coinbase goes down and fresh money dries up? What if the extremely young exchange Binance runs into any issues?

I know first-hand that they and many other exchanges do the best they can to keep users' funds safe, but there is always the risk of one or more of them blowing up. Growth is exponential and if some small thing goes wrong, it could make fresh capital dry up or lock up lots of coins indefinitely.

I see the chances of a large exchange running into serious issues at around 25 percent for 2018 – with a drop of 10 to 15 percent from the market top.

[Anonymous No.7028315]

>>7028293
3: Credit

Some exchanges allow users to buy cryptocurrencies with credit cards. And, on top of that, investors can even leverage purchases in many cases.

In fact, one report put the number around 3 to 4 percent for purchases that are made on credit that could not be paid back by the buyer.

Such a play is a bet the market will continue to go higher, so any extended period of sideways movement could be bad news for those who have to start closing positions. We haven't seen a such a market since the summer of 2017, so some recent entrants into the space could be caught unawares.

I see such a scenario as reasonably likely, but it would probably have a weaker impact than other market risks due to the single digit prevalence. I give it a 20 to 25 percent probability with a 5 to 10 percent drop from the market's top.

[Anonymous No.7028327]

>>7028086
Okay, lets stop the poo posting for one moment
>Is Gox comparable to finex/tether
Yes, and it is way worse. Gox was ONE exchange which at that time represented about 75%+ of the crypto economy and managed to destroy the trust in crypto for a good 2 years. Finex/tether represents probably about the same or even more of the crypto economy AND it isn't just limited to one exchange. In addition US citizens are already legally in a grey area playing with tether, same goes for chinese.

So the best case scenario is the first post of this thread, worst case is that not even 2020 halving will bring back trust in crypto exchanges, let alone some muah pwc audited replacement. And that's it, cryptos worth is currently just based on trust. The only real world application of crypto is drug and pedo market and obscure unregulated pseudo shares, represented by the erc 20 token market

[Anonymous No.7028340]

JUST HAPPEN ALREADY SO WE CAN MOVE ON AND MAKE EVEN MORE GAINZ. FUCK.

[Anonymous No.7028343]

>>7028315
4: Tether

If a cryptocurrency has a market cap of $1 billion, it doesn't mean that $1 billion has flown into that cryptocurrency. It was probably a lot less, since the market cap gets calculated by multiplying the number of tokens by its last trading price.

So, for a cryptocurrency to have a market cap of $1 billion, maybe only $50 million actually moved into the cryptocurrency. Therefore, if that coin collapsed completely, its market cap would go from $1 billion to zero, but investors would have actually only lost $50 million.

There is one big exception: tether.

Tether gets issued out of thin air through a very complex system, supposedly whenever $1 is deposited in return. At the moment, tether is priced at around $1.6 billion, which supposedly means $1.6 billion actually went into that cryptocurrency.

According to some reports, however, there isn't actually $1.6 billion backing up the token. Since many exchanges and other cryptocurrencies are connected to tether, any finding that its stated value is untrue would send the market into a significant decline.

I've assessed this probability at only around 10 percent this year, but I think it would put the market down by around 10 to 15 percent.

It's worth noting that in-house counsel for Bitfinex, an exchange with close ties to tether, said in a December statement that "every claim made by these bad actors has been patently false and made simply to agitate the cryptocurrency ecosystem. As a result, Bitfinex has decided to assert all of its legal rights and remedies against this agitator and his associates."

[Anonymous No.7028349]

>>7026781
Looking at the times this FUD resurges I'm pretty much convinced the whales use it at the bottoms so more normans get scared and sell low before a bullrun; and when a bullrun is reaching its final stages, so the mania starts cooling off while they sell the top so they can repeat the process.

Of course sometimes you see an orca or a group of dolphins trying to pull this off on their own and failing because they don't time it right.

[Anonymous No.7028361]

>>7026894
When a bank writes you a loan it is literally printing money. Grow up.

[Anonymous No.7028362]

>>7028114

Pants on retards who like nice bags. Once this shit starts really collapsing no one will buy it anymore.

[Anonymous No.7028365]

>>7028264
>>7028293
>>7028315
>>7028343
Looking at these options, we see a few things: One individual outcome is neither likely nor would it have a huge impact, but many of the potentialities are interconnected. If one domino starts to fall, it could take others down — and probabilities start to add up, potentially taking the market down the same 80 percent that Mt. Gox did in 2014.

While I personally do not believe we will see this happen in 2018, I would react instantly by moving my crypto holdings into "safer" asset classes if I noticed one of the scenarios becoming more likely.

[Anonymous No.7028393]

>>7028361
retard

[Anonymous No.7028452]

>>7027105
the same man who started negative interest madness. he truly is clueless

[Anonymous No.7028463]

>>7028327
Thank you for giving me a serious response I appreciate it. Do you think it's in the best interest of those at Tether and those at exchanges using USDT (Binance for example) to allow this to happen? If so then why are they letting this shit happen?

Why does Binance still trade in USDT pairs? Or do you think that they don't want to be a Exchange for years to come and instead are taking advantage of the huge surge in new money into crypto this last 6 months and will just try get as much $ as they can before Tether destroys everything?

Or can exchanges like Binance really just do nothing and pray Tether doesn't fail so they can have a long term legitimate business?

Thanks

[Anonymous No.7028488]

>>7028293
>sometimes adding over 200,000 new users per hour.
That's an illusion brought by their referral system. I have currently 50 accounts on binance, I bet some chinks are in the thousands per person

[Anonymous No.7028520]

>>7028488
Why do you have 50 accounts lmao

[Anonymous No.7028574]

>>7028463
Not that guy but, if you think about it, pulling Tether off your exchange would make it less attractive to most regular people. Better push it all under the rug and keep making all that cash everyday until it's all gone.

[Anonymous No.7028589]

>>7028574
that's what im thinking too

[Anonymous No.7028598]

>>7028343
I don't care if tether crashes. Nobody should except the tether bagholders. Tethers can not be redeemed to dollar, so it will just be a useless shitcoin like link. Exchanges don't have to refund dollar for usdt to holders. Market will hardly notice this.

[Anonymous No.7028609]

I don't really get how it would even crash anything that badly if it went down. Right now total Tether supply is $2,248,090,824. If you completely wipe the total supply of tether off only Bitcoin right now Bitcoin will still have a Mcap of $194,923,344,476 or $11580 per BTC. Is this wrong??

[sharp dressed ant No.7028612]

>>7026630
>because the bitcoin price is pushed up by tether.

this is completely unsubstantiated.

[Anonymous No.7028624]

>>7026775
>t. brainlet
Dai aims to remain at $1, you mong. That's the whole point of a peg.

[Anonymous No.7028625]

>>7028463
Last option. They can only pray
Of course they would love to see their business model survive but they have minimal influence on it. If they say tomorrow that they stop USDT trading pairs and replace it by whatever it will send a shock through the exchange scene which will hurt trust and the flow of new FIAT into the crypto economy
>>7028520
Just in case. Selling accounts is big business. Look at the twitter account market

[Anonymous No.7028710]

>>7028598
>useless shitcoin like link

[Anonymous No.7028739]

>>7028625
Cool that's my thoughts too, if Tether just keeps getting and Auditor every 3 months then losing them over and over what's the issue? Won't people just ignore it since they don't wanna think about bad things happening?

>>7028625
You mean incase they limit how many people can signup? I understand twitter @ having value since they're one use and no-one else can have them but this would only give binance value if they permanently or for a long period of time stopped accepting new people and were the main exchange by far. But it's a good idea.

[Anonymous No.7028753]

Ok i have a question. What about cryptopia's NZDT? Any of you have info about that? What would happen if I stopped using USDT and go for NZDT?

[Anonymous No.7028795]

[Anonymous No.7028803]

Bitfinexed other claims:

>all BTC price in 2017 manipulated by spoofy
>charlie lee is a PnD scam artist
>poloniex cuts secret deals in USD for whales

https://twitter.com/Bitfinexed/status/952985389962285056

https://twitter.com/Bitfinexed/status/955185109019316224

https://twitter.com/spiralcal/status/956931274194726912

you got memed on by YOSPOS and SRS nocoiners

[Anonymous No.7028868]

>>7028753
Everything, EVERYTHING will get aids if it's anything to do with Crypto if Tether fails.

Watch this

>Tether gets outed somehow for actual real bullshit $ reserves
>Everyone starts selling Tether for ETH/BTC
>Everyone starts selling Alts for ETH/BTC
>All those people now go TRY to sell ETH/BTC on Coinbase
>Coinbase stops people withdrawing and the market continues to plummet

nothing will be safe. Cryptopia will get destroyed and NZDT as well

[Anonymous No.7028922]

>>7028739
the ostrich method doesn't protect from decreasing value and lost trust. Only way it will go away is new money flowing into crypto, which requires stupider money then right now. And tho, I have never seen so much amount of retarded money then now, being pessimistic about stupider money

Twitter account market is a bit more tricky and requires accounts that look legit and have been grown over a certain amount of time. Crypto exchange accounts are no brainer. Doesn't cost anything to set up, doesn't need to be grown and can be sold if a block happens and a certain demand remains, no matter how small. And the risk of having many accounts to be offered to sell is equal to 0

[Anonymous No.7028960]

im probably going to take some heat for this, or be called a brainlet...but don't most governments literally follow the exact same model as the implied Tether scam. They print money...which may or may not be backed by anything other than "full faith and credit" and inject it into the economy as a stimulus, and nobody questions it. The only way this turns bad is if it's confirmed that Tether has been artificially inflating the market to a large degree, which is certainly possible, but not proven. How much could they actually manipulate a market valued in the hundreds of billions? IMO there are two questions here. 1) is USDT a complete fraud? or do they just have some "creative accounting"
and
2) Does it actually matter?

[Anonymous No.7028992]

>>7028922
What do you think is or will be the catalyst for Tether to get JUSTed and what sort of time frame would that require?

I think they could probably get a new Auditor after losing Friedman but if they lose it again there might be issues

[Anonymous No.7029014]

>Delusional retards actually think anyone will sweep in to save unregulated uninsured currencies
Has anyone here actually read the Tether terms?
Holding a tether gives you zero legal rights.

[Anonymous No.7029034]

>>7027376

Dude look at the size of “too big to fail” companies that have failed in the past. Anything is possible. Greedy, fallible humans are driving the bus.

I somewhat agree with your point that the exchange makes so much money that it would be crazy to fraudulently print. Maybe they fucked up and let the balance sheet get in the red, and are buying time to make it right with their profits? Actually nah, then they wouldn’t be issuing more tethers.

[Anonymous No.7029060]

>>7028960
Yes you're right that the US dollar is just printed and then people buy bonds when this happens, however

USD is insured by nuclear missiles
USDT is insured by unaudited meme reserves????

[Anonymous No.7029155]

>>7028361
You fucking retarded? It does not
Read some laws and how this shit works
Banks loan this money from feds if they can't back your loan with their own reserves

[Anonymous No.7029170]

>>7028960
>scam. They print money...which may or may not be backed by anything other than "full faith and credit" and inject it into the economy as a stimulus, and nobody questions it.

You wanna know what the USD is backed by?

[Anonymous No.7029232]

>>7028327

I kinda disagree, I think the damage would be contained. When gox happened crypto was still unproven and there were no real other exchanges to pick up the slack. Right now, everyone is so horny to get into crypto that a big crash would just be viewed as a buying opportunity. People can now say “oh this is just like Gox again, and that was a huge buying opportunity.” Also, the crypto space is teeming with exchanges now, yeah Tether is everywhere but only bitfinex is really liable, the rest just shrug it off. They make feed on trades; panic selling or buying both just mean a windfall for exchanges.

[Anonymous No.7029241]

>>7028992
Look, the only reason why anybody puts dollar into crypto, beside buying drugs, pedo stuff and laundering money in an ineffective way is the assumption that stupider money enters the game and drives the price, or in this regard somebody operating a willy bot with unlimited FIAT/ FIAT replacement, which is currently done by finex, as they admitted on bitcointalk (somebody post the pic, I can't find it right now). The moment the price in FIAT doesn't go up as it went up in the past, capital that wants to grow leaves crypto. No auditing, no promises and no vague announcement will bring it back, when other assets and commodities have real growth.
>What do you think is or will be the catalyst for Tether to get JUSTed and what sort of time frame would that require?
Hard to say. I guess withdrawal issues for FIAT and crypto happening more often, which is the case, looking at cryptopia, polo and from time to time finex, biance, kraken, hit and bitrex, are the first signs. Dollar exchanges halting the deposit of crypto is one of the signs that it is too late to get out. When this will happen, no idea, but looking at the bearish market, it may happen soon

[Anonymous No.7029283]

>>7029232
>Right now, everyone is so horny to get into crypto
are you willing to transfer 20K into crypto right now? If you answer is anything else than
>HELL YES
Your whole assumption is a pipe dream

[Anonymous No.7029288]

>>7029241
Aren't currencies like Stellar being used by banks? Won't there be, or isn't there already use for non-meme currencies outside of Monero type transactions like the things you listed?

[Anonymous No.7029295]

>>7026988
There will be temporary market distortions but if you think that pervasive fraud of this magnitude will send the price of BTC soaring, I think you are sadly mistaken.

[Anonymous No.7029403]

>>7029283

I’m not saying right now, min saying if it crashed. But yeah, I’ve been steadily buying dips, keeping cash on the sidelines in case Tether or another huge crisis hits. If Tether explodes and the market tanks 80%, though, I’m not being cautious anymore, I’m buying like fucking crazy, and I think a lot of people would be doing the same.

[Anonymous No.7029414]

So when tether collapses we're going to see a huge price rise before a complete collapse of the crypto market. Should be interesting to watch, I'll be waiting to buy back in whenever it happens - could be in a few hours or a few months or a couple years. I don't give two fucks I'm waiting for tether to fold. If i wanted fake money I'd just use dollars.

[Anonymous No.7029443]

>>7029283

My point is, during Gox it was still “oh, this wacky unproven internet money!”. Now even skeptics are like “yeah, crypto, in some form, is going to be a thing.”

[Anonymous No.7029455]

>>7029288
>Aren't currencies like Stellar being used by banks
No, they aren't. Banks are actually advising their employees to keep away from crypto
>Won't there be, or isn't there already use for non-meme currencies outside of Monero type transactions like the things you listed?
The only thing that is currently happening beside grey and black market use and a tiny market of retailers taking crypto through cryptopay, is the issuance of tokens on a more or less functional network, etherum, to acquire risk capital, done by companies/teams that have no other options to acquire capital for their projects, hoping that they will make money once their projects have real world use. To mention that a big part are untalented code monkeys who use the capital to buy lates and drugs, not being able to hold any roadmap, beside giving out a random wallet to trade their token shares.

Crypto is right now as a whole a futures market. Nothing more nothing less

[Anonymous No.7029597]

>>7026520
To keep the value of USDT 1:1 with the dollar they need to begin buying when it drops below $1 and selling when it exceeds $1. It's likely they're working closely with multiple exchanges.

[Anonymous No.7029642]

This is the most annoying FUD in my view. I've never heard anyone give a plausible explanation for how a Tether crash would actually play out. How will the run happen exactly? On what exchange? How often are US dollars directly redeemed for Tether? As long as the market agrees that Tether is worth 1 USD - nothing will happen. How will the Tether backing be proven false such that the consensus would be destroyed?

[Anonymous No.7029696]

So if BTC is gonna crash that means I should tether up right?

[Anonymous No.7029729]

>>7029443
>Now even skeptics are like “yeah, crypto, in some form, is going to be a thing.”
This is true. But currently nothing much has yet happened. Lots of promises, announcements and possible use cases and more eyes on crypto. But this could be also the reason for another bear market. Teams who promised the world and more during the hype failing or getting behind in their projects and serious investors deciding to put money on the sidelines or somewhere else waiting to see what happens. Not to forget the bad press scammers and dubious occurrences produce.

tbf, no matter how much I don't like regulations, if the current price should be maintained, there needs to be regulation, else only risk capital will flow into crypto, and out as soon as it gets shaky

[Anonymous No.7029776]

Funny how you guys thought that Ripple was the Jewish scam, but it really it was Tether.

[Anonymous No.7029821]

>buttcoin

just imagine missing the boat on bitcoin so hard that you even knew about it back in 2012 but purposefully avoided it, and now you spend all your time online desperately trying not to kill yourself deluded into thinking it's all one stop from collapsing to zero.

being a buttcoiner must be one of the most miserable existences i can imagine

[Anonymous No.7029824]

So what? You want me to cash out so I pay 60% taxes? No fucking way. Get lost with your FUD. I'd rather take the risk than pay taxes.

[Anonymous No.7029893]

Reminder that anyone spreading FUD has an ulterior motive.

Bulls are overbought from buying in during the last couple failed breakouts, so they have no money to push the price up. Thus, they resorted to spamming FUD in order to get bears who had tethered up to buy back in.
Tether itself is antifragile; people who believed the FUD actually pushed up the price for real, which means Bitfinex makes money and can cover any USDT withdrawal requests.

Another possible motive could be something like this >>7029824

[Anonymous No.7030366]

>>7029283
>40k actually

[Anonymous No.7030455]

>>7029060
>>7029170
i understand that USD and USDT are not even close to the same thing. I wasn't specifically talking about only the Dollar, just using it as an example. My line of thinking was more along the lines of..We willingly accept that fiat currency has value, A) because we all agree that it does, and B) because people will exchange goods and services for it. It doesn't even really need to be backed by anything as the agreement that is has value remains intact. IMO, USDT is no different, the price is pegged to $1, every exchange adheres to the 1:1 value, every customer knows that its "worth" $1. And you can exchange btc, and many alts for USDT at a known and set rate. So as long as that remains understood, does it matter if they don't have the cash to back up every token. Of course that means they are vulnerable to a bank run scenario. But so is literally every bank, everywhere. The only difference in this case is there is no insurance on your deposits, but there is no insurance anywhere in crypto. I think the only way USDT is this huge problem, is if it turned out that they were propping up, or inflating the market in a fraudulent or artificial way. Which i'm just not convinced they're a big enough player to really have that much of an impact. i'm not defending tether, i'm just wondering if USDT being shady is like pissing in an ocean of piss. The entire crypto space is loaded with scams, shitcoins, manipulation, insider trading and ins some cases outright/borderline criminal fraud.

[Anonymous No.7030828]

The more you read about Tether FUD the more retarded it sounds.

You have been screaming MUH TEETHER for years now.

Shut the fuck up already.

[Anonymous No.7030954]

Correct me if I'm wrong.. It seems like tether was created to be like a loan to prop up a business, hoping that the business would gain momentum, but it didn't.

[Anonymous No.7031078]

>>7030954
Tether was created because the world banking system refuses to work with crypto companies. There is literally no other option than to use tether, or something just like it. These people are 100% retarded.

[Anonymous No.7031553]

>>7031078
Do more niggers and female celebrities need to shill Bitcoin?

[Anonymous No.7031583]

Can't wait until bitbay release the dynamic peg so we can be rid of tether once and for all

[Anonymous No.7032093]

Ya'll niggas realize that the price is higher on tether exchanges because the tether is worth less right? The price is already crashing you just don't realize it. The prices on Tether exchanges are being inflated meaning if you transfer to a cash exchange right now and cash out you are LOSING money. This means that the price of Ether on the tether exchange is not what it really is, but it's relative to tether and not usd.

Basically, tether is tanking right now and you dumb fucks are too stupid to notice.

[Anonymous No.7032138]

>>7031078
DAI

[Anonymous No.7032540]

>>7026781
there's no central bank to prop it up if there is a run

[Anonymous No.7032583]

>>7026156
Pajeet. Disregarded.

[Anonymous No.7032589]

Tether fanbois JUSTd
https://mobile.twitter.com/Bitfinexed/status/957668305120227328

[Anonymous No.7032606]

>>7026156
Bitcoin which is supposed to replace fiat should be backed by the dollar? What?

[Anonymous No.7032741]

>>7026603
the beast will be released
this is when the shitcoin dies and the real coins shine

[Anonymous No.7032759]

>>7032093
this

[Anonymous No.7032962]

>>7028019
You're retarded, tether isn't backed by anything, not to mention USD.

[Anonymous No.7033109]

>>7026781
Banks are bad enough as is, now you want to trust a coin that isn't backed at all, has no regulation and no bail-out by government .
You're putting yourself at a dumb risk with no chance of return, you have to be dumb.

[Anonymous No.7033120]

>>7026156
disregarded

[Anonymous No.7033611]

QUICK SHORT TETHER

[Anonymous No.7033862]

>>7026230

>I sold everything at the bottom of a dip, and I'm THIS FUCKING MAD the market is climbing without me

[Anonymous No.7033986]

>>7026821

jesus Christ this bumper-lipped fuck's face is so fucking punchable. Hang this monkey somewhere

[Anonymous No.7034554]

>>7026617
The kikes found the weak spot of crypto. Now they’re trying to exploit it. Little do they know that taking out the weak spot will just make crypto stronger in the long run.

[Anonymous No.7034705]

>>7026156
>tether tanks
>all my other coins moon
kek, tether fudsters are so autistic it's not even funny
When tether dips, it means that money is flooding to other coins
That's why during most of this bear market tether's price was above 1 dollar.

[Anonymous No.7034964]

>he didn't short tether at $1.04 with 5x leverage on kraken

[Anonymous No.7035010]

why dont they just burn some tether to lower mcap

[Anonymous No.7035086]

>>7026156
holy shit such brainlets
it dipped to 93 because some moron market sold and wiped out a lot of buy orders on the way down