normies are waking up to tether

[Anonymous No.7048540]

http://www.news.com.au/finance/money/investing/without-this-scam-bitcoin-price-would-collapse-fears-grow-over-tether-printing-press-as-auditors-part-ways/news-story/308503ab61f82d320e92847a0b59a23b

https://twitter.com/Nouriel/status/957688596038930432
https://twitter.com/ncweaver/status/954033664601473026?ref_src=twsrc%5Etfw

[Anonymous No.7048562]

>>7048540
We're all fucked.

[Anonymous No.7048706]

>>7048562
>>7048540
Honestly though I need a continency plan for when things go to shit. Obviously all of the exchanges will go bankrupt.

Will it be safe to sell my coins on GDAX when SHTF? Or will it be a bankrun where they exit scam everyone? The only other option I can see is buying gold, but maybe APMEX and friends will freeze BTC payments at that time.

What do.

[Anonymous No.7048752]

>>7048540

[Anonymous No.7048774]

https://twitter.com/cryptomanran/status/955067425019629568
https://twitter.com/Nouriel/status/957623357708668928


ahHHHHHHHHHHHHHHH

[Anonymous No.7049407]

We're absolutely fucked.

Imagine the reverse FOMO where normies sell Bitcoin instead of buying it.

[Anonymous No.7049474]

>>7048540
People have sold their bitcoins for Tether already whent they got Tether. In order for people to get out of tether they need to buy coins than sell them on exchanges that actually have USD like coinbase. The bitcoins that have been bought by tether have already been but and vice versa.

[Anonymous No.7049587]

>>7049407
They already sold their BTC to get tether. This will cause the opposite.

[Anonymous No.7049627]

>>7048540
YES
YESSS

[Anonymous No.7049641]

please no I only got into crypto last week, I'd look like such a big sucker for falling for this

[Anonymous No.7049669]

>>7049587
Very short big spike, followed by even bigger dump and couple months sideways/slow recovery. Gonna be ok in the long run.

[Anonymous No.7049722]

Can someone just make another Tether for fuck sakes
This fud is hurting the market but something like tether is needed in it

[Anonymous No.7049787]

>>7049587
Yes, but tether is not real money. Buying BTC with Tether will not make the price of Bitcoin increase.

The price of all crypto will crash 90+% when everyone sells to USD.

[Anonymous No.7049859]

>>7049787
>Buying BTC with Tether will not make the price of Bitcoin increase
I don't think you know how price rises. Should google that.

[Anonymous No.7049891]

This FUD is getting out of hand. Bitfinex'd is fudding hard to buy cheap. He has no reason to do this otherwise.

[Anonymous No.7050012]

>>7049891
>bitfinex doesn't want to prove tether is backed by real money
>everything is bitfinexed fault
state of bitfinex shills

[Anonymous No.7050043]

>>7049859
You might want to Google how to kill yourself.

[Anonymous No.7050055]

>>7049891
Did he invent the fact that Bitfinex auditor literally removed every single mention of Bitfinex from their website (including editing news archives)?

[Anonymous No.7050057]

>>7050043
Edgelord.

[Anonymous No.7050128]

>>7050057
>>>/rebbit/

[Anonymous No.7050177]

>>7050055
>>7050012

They stated the audit was taking too long (I don't buy that excuse). My issue is with bloggers making unsubstantied claims in an attempt to FUD for personal profit.

[Anonymous No.7050229]

>>7048540
the wojacks from the tether crash are going to be the best of the entire year. it will be GLORIOUS.

[Anonymous No.7050341]

>>7050057
Choke to death on used tampons you redditor piece of shit.

[Anonymous No.7050378]

This is all the fault of a retarded deranged individual called bitfinexed, who dedicated countless hours, days, weeks and months to FUD the shit out of tether only because he sold low.
He's a crazy guy and doesn't care about anything.
Even if tether was a scam, without that retarded guy constantly talking shit and posting his own threads here and on reddit this shit would have lasted months or at least one more year.

You can all thanks that fucker for ruining the fun.

[Anonymous No.7050414]

i dont think this matters because tether isnt a scam and they have the funds all this will do is force them to allow an audit

[Anonymous No.7050424]

>>7050177
could be the case
i worked in corporate finance and when the auditors start dicking around to extend their engagement and milk fees we terminate the engagement and find the next
it's not an easy process to transition from one auditor to another but when they become unbearable you have no other choice.

[Anonymous No.7050435]

>>7048540
>don't look into Tether guys
>stop creating fake FUD guys
>all of you are just jealous you didn't Tether up

We've been saying this since day one yet all these fucking /biz/ normies are saying it will have no impact on the market when it is found out that they have no reserves and aren't audited and people lost trust and that whole shit show finally gets BITCONNECTED

[Anonymous No.7050441]

>>7050378
He doesn't even have the balls to FUD without a handle.

[Anonymous No.7050442]

>>7050128
>>7050341
Mega edgelords.

[Anonymous No.7050484]

>>7050435
Tether has been hovering between #3 and #4 in trade volume between all exchanges. Only an idiot that can't look up basic information thinks Tether is irrelevant to crypto trading.

[Anonymous No.7050494]

>>7048540
>convert all your tether to crypto before everyone else
>????
>profit!

Isn't that why shits been going back up? Bottom sellers to tether are buying back in, kek.

[Anonymous No.7050586]

When you hear something like "relationship is dissolved with auditor", it means the auditor was working as an independent contractor for the exchange. And after the exchange saw their report, they refused to sign off.

[Anonymous No.7050595]

>>7050442
Go get raped by a pack of niggers. I would cover an aborted niglet in razor blades and use to slice throats of everyone in your family as you watched. I would rape you myself as I throat-fucked your parents with your grandfather's rotting amputated dick. I wouldn't even kill you because you are such a worthless piece of shit. No I'd burn off all your skin, cover you in animal fur I skinned off live puppies, and cream in your ass daily to satisfy my fur fetish. FUCK YOU.

[Anonymous No.7050619]

>>7050435
>market on the rise
>being tethered

[Anonymous No.7050678]

>>7050595
Ultra edgelord.
>too easy

[Anonymous No.7050730]

>>7050595
wowee, the fedora is strong today.

[Anonymous No.7050849]

4chan is dumb as fuck

the whole point of tether was to go around the us dollar fiat pairing as a possible way for the irs to look into auditing.

>buy bitcoin from coinbase
>sent it to exchange that does not offer us dollar
>exchange makes new coin called tether as a stable that acts like a fiat paring.
>when bitcoin price falls significantly, you trade it for tether instead of ether or other pairings since bitcoin pricing affects everything else.
>they price tether equal to us dollar. so other fiats flood in
>cant meet up with demand so they print more tethers
>when bitcoin stops dropping, people buy back into bitcoin without losing money using tether
>irs cant audit because its not a us dollar, but its priced the same.
>irs is now looking into taxing the shit out of everything to discourage americans from making actual good money.
>audits are handed out to exchanges that have tether
>exchanges freezes american customers and tether
>people lose because they didnt sell their soul to the devil like Jay Z and Rhianna and when it rains they are not under the umbrella.

[Anonymous No.7051239]

>>7050595

[Anonymous No.7051269]

>>7048540
>.au
lol implying .au means anything in the context of the real world

[Anonymous No.7051309]

>>7048540
normies don't wake up. they sleepwalk into new traps.

[Anonymous No.7051385]

>>7050586

[Anonymous No.7051423]

How much money does Bitfinex make daily?

[Anonymous No.7051546]

>>7048540
>Removing the 3 billion pumped into the economy by Tether will CRASH BITCOIN 80%!!!
>Total tether less than 1% of the marketcap
Who does the math for these situations because they're wrong. If anything it would crash just because people don't have a dollar value to base trading on.

[Anonymous No.7051547]

>>7048706
Wouldn't exchanges that don't deal in Tether be mostly shielded from this? I'm assuming said bankruptcy would come from a run on the bank scenario in which users exit USDT and Bitfinex doesn't have the funds. The BTC price will go down if indeed it's being pumped with Tether, but I don't see how that will kill exchanges, who will still be collecting fees as people exit BTC.

[Anonymous No.7051574]

https://twitter.com/IamNomad/status/956283471034449920

Let's get something straight here, /biz/. If you all stop giving bitfinexe'd so much attention, you won't be boxed out of crypto trading due to regulations "protecting," you from the big bad volatility. Stop inviting regulations because you're a scared faggot, faggot.

[Anonymous No.7051595]

>>7051546
Marketcap is calculated as last trade price * total supply. if there was even a small run, we would see that there is far less than 500B invested in cryptocurrencies.

[Anonymous No.7051596]

>>7050849
Bitcoin pricing hasn't effected everything else nearly as strong until tether came into the picture. It used to be BTC down and top alts go up. With tether thrown into the mix when BTC goes down everyone cashes out into Tether dropping alts as well.

[Anonymous No.7051647]

>>7051596
this is because it makes it easier for bots to panic dump, I presume. most exchanges require you to cash out via btc, right? outside of Korea, that is.

[Anonymous No.7051668]

>>7050595
thx 4 da pasta boyo

[Anonymous No.7051696]

>>7051596

What the fuck are you talking about? Tether has been around since 2015.

>>7051647
This makes no fucking sense either. Why would Tether make shit easier to dump compared to Bitcoin which has more liquidity and volume in altcoins.

/biz/ is the fucking worst

[Anonymous No.7051714]

If everyones afraid to use tether...doesnt that mean you can safely tether after this? If less people use it its less likely to collapse...

[Anonymous No.7051715]

>>7051547
The problem is most exchanges deal in Tether though.

Also Bitfinex would be raided by the feds even if they did somehow have the money. There is no scenario in which Bitfinex survives and their employees don't go to prison for life.

[Anonymous No.7051759]

>>7051595
Of course, constantly forking Bitcoin effects the price worse than Tether does. When the BCash fork came out each BCash was 0.05btc but there wasn't actually any cash there, just assumed value similar to actual fiat.

>>7051647
Most exchanges go the Bitcoin route yes. It makes it easier than cashing out a dozen different coin types.

>>7051696
Yes but it hasn't been nearly as prevalent as it has been recently. No one really took it seriously and would rather have alts but with more uneducated people entering crypto they see "USDT is paired 1:1" and use it because it seems safer.

[Anonymous No.7051907]

>>7050595

[Anonymous No.7052007]

>>7051715
I was under the impression that Bitfinex was the only exchanging promising this 1-1 backing. So you'd say that any exchange that deals with Tether (and therefore has to maintain cash on hand to back it) is a problem?

If Tether and Bitfinex go down, realistically, what happens? Massive exit from crypto by normies sending everything into the toilet, and more savvy people reallocating their money into other coins?

[Anonymous No.7052082]

>>7051715

Bittrex is the biggest holder of Tether. They're a registered US Fincen company with an MSB. They have ex-fbi and ex-irs staff employed in the higher ranks.

Also the US has no jurisdiction in Taiwan where iFinex Inc is registered. You're all inviting regulation just to make yourselves poor again, logical.

[Anonymous No.7052114]

>>7051759

That's not based on facts nor makes sense still since Bitcoin pairs still do a lot more volume than USDT pairs.

[Anonymous No.7052211]

>>7048540
Will sell the news for FUN when I can sell for 5 BTC I hope all is well when shit explodes. I'll also hedge my money into: Mona (Japanese whales need to go somewhere, not affected by USDT, slightly affected by BTC.) MONERO & DARICO.io (backed by gold, btc and ethc ICO lasts 6 months, ICO price 1 DRC = 1USD.. & remainer in less volatile coins.. Hedge your bets ladies and gents.

[Anonymous No.7052456]

>>7051574
Because tether provides nocoiners and latecomers an external explanation for their failure to recognize the rise of crypto. See, it's not 'real', it's all 'fake money' pumped by tether.

[Anonymous No.7052503]

>>7052456

>Implying they are wrong

[Anonymous No.7052524]

>>7052456
good way for (((them))) to divide everybody in this too.

[Anonymous No.7052617]

>>7052456

[Anonymous No.7052727]

>>7052456

This is the perfect explanation of what's going on

[Anonymous No.7053206]

>>7052524
It's simpler and pathetic.
The guy that started all the fud - bitfinex'd, aka AtlasRand1 on reddit shorted btc at ~$1200 on bitfinex and got liquidated. He apparently begged them to rewind the trades. They, obviously, refused. Thus begins the now nearly year-long vendetta of a broken man.

[Anonymous No.7053263]

>>7050378
You are absolute scum

[Anonymous No.7053288]

>>7052456
>tether Co. keeps moving from bank to bank
>virgin island
>auditors have no clear view of reserves
>bitcoin pumps when tether prints
>tried to hide the fact bitfinex was associate with tether company
>auditors ran for the hills and scrubbed them off their website

[Anonymous No.7053313]

The thing is, Tether is the same as cashing out to USD except without real USD. But you can't cash out Tether, into USD. It has to go back into Bitcoin, or its worthless. It's all FUD. It's just a way of cashing out.

[Anonymous No.7053359]

>>7053206
i hope they follow through with the lawsuit on him and drag his ass off twitter and into a courtroom to defend his claims

[Anonymous No.7053390]

>>7053313
>The thing is, Tether is the same as cashing out to USD except without real USD. But you can't cash out Tether, into USD
> It's all FUD. It's just a way of cashing out.

What the fuck am I reading

[Anonymous No.7053414]

Tether is going to be this bubbles equivalent to mtgox.

[Anonymous No.7053424]

>>7053359
that would mean they'll have to prove their reserves of usd. which they aren't willing to do. Hes not going to court until that happens kek

[Anonymous No.7053492]

>>7053288
>tether Co. keeps moving from bank to bank

Banks don't like crypto, news at 11

>virgin island

Because no taxes and regulations duh

>auditors have no clear view of reserves

consequence of (1)

>bitcoin pumps when tether prints

No, demand for tether rises when bitcoin crashes, elevating its price into ~$1.05. Easy to check on cmc. In response to this arbitrageurs deposit fiat into bitfinex and withdraw usdt. Bitcoin rises afterwards because it was a bull market, at least in 2017.

>tried to hide the fact bitfinex was associate with tether company
>auditors ran for the hills and scrubbed them off their website

Again, due to (1)

>>7053313
You literally can deposit usdt at bitfinex and withdraw either usd or euro. Euro withdrawals go much faster. They don't have solvency problems, they have problems sending wires to retail clients due to hostile banks.

That's the reason for the new $10k limit for registrations.

[Anonymous No.7053512]

>>7053414
explain to me in simplest form possible why
protip you cant. no one can because ifinex is a private company and is under no obligation to open their books. if the books are not open you have no idea what’s going on and speculation is meaningless either way. a bunch normie fucking news agencies that heard about crypto two months ago whos main source is a twitter account isnt proof unfortunately

[Anonymous No.7053618]

can someone give me a quick rundown please

[Anonymous No.7053626]

>>7049891
>He has no reason to do this otherwise.

He's doing it for recognition. If he is right he gets to be the one that called the crash, the one in the know that saw it all coming and tried to warn everyone but no one listened blah blah blah. I've seen private messages of his with other people where he says exactly that.

That says nothing about whether or not he is right, but yeah, those are his motives. Him pushing his idea is the same as him feeding his ego and desire to be right.

[Anonymous No.7053731]

>>7053626
you probably don’t want that title.
causing people to lose hundreds of millions of dollars they will be looking for a sitting duck scapegoat. people are irrational and people are already fucking pissed at him if you read twitter comments

[Anonymous No.7053777]

>>7051239
highly underrated response

[Anonymous No.7053801]

>>7053626
but if tether proves theres reserves he'll just shutup and that will be the end of it.

But if hes right everyone gets fucked.
I think its healthy this is getting a spotlight cause it means tether cant be complacent anymore and that they should hurry up

[Anonymous No.7053986]

>>7053801
who the fuck do you retards think you are telling a company they have to prove solvency? do you people bitch and moan and tell the private bank that holds your fiat that they have to prove their reserves, doubt it and guess what even if they were audited you would see the same shit, complexity that can’t pinned down and conpletely fleshed out. the whole fucking world runs the same way

[Anonymous No.7054032]

>>7049859
You're implying that Tether will keep its price as everyone will be panic selling.

[Anonymous No.7054082]

No one will panic sell it's all a fucking nothing burger understand?

[Anonymous No.7054127]

I feel like everybody misses the mark on tether or skims over what I think it the key point.

Tether is only "fake money" or "pumping up bitcoin" if bitfinix are in fact using their OWN unsold tethers to directly purchase bitcoin. If that isn't the case there can literally be nothing wrong, because the tethers only enter the market if somebody has paid for them which means they have not created value that did not exist prior.

But for some reason all the shit I read seems to brush over that as if it's somehow a FACT that they are buying crypto with "worthless" tethers (not that the tether is only worthless if there has been no purchase of the tether, while purchased tethers have worth because somebody has initially paid for them and they are therefore backed).

[Anonymous No.7054174]

>>7048706
>>7051547
the issue is that it's hard to tell what ill happen when tether crashes.

if tether crashes, everyone wants to get rid of their tether, but what can they exchange it for? I only know of one exchange that has a USD/USDT pair. the the best and fastest way to sell your tether is to pick a decently liquid coin, probably BTC/LTC/ETH as those are the big three, and are listed on GDAX which is one of the bigger exchanges with USD pairs. as people flood out of tether, tether's price drops as the demand/buyers dries up, this super-inflates crypto prices as there is so much tether in the market, and probably more tether than USD hanging out in everyones crypto accounts, so that weird relationship between USD, and USDT means the price also pumps in USD, this will probably trigger another wave of fomo as price skyrockets, but it's doubtful that any of the big players or institutional money gets in, especially because the futures contracts are all cash settled, so they could take advantage of the move without exposure to BTC's actual risk. Then everyone floods to either take profit, or cash out into actual with the expectation that everything is going to hell in a hand-basket effectively crashing the entire market with no survivors and bringing MT. GOX 2.0

alternatively the smart people and those that use actual fiat pairs might collectively cut and run to aviod the shitstorm entirly, which could trigger a large initial panic, which cascades and prevents the spike that would result from people fleeing tether. those that didn't get the news would see the crash and sell, many likely into tether and be left with nothing, and everyone else would be scrambling to cash out so fast the market doesn't have enough buyers to hold a price.

[Anonymous No.7054240]

>>7048706
>>7051547

>>7054174
basically the conclusion is that either:
1) people flee tether into crypto causing massive spike with uncertain outcome, but likely resulting in massive crash
or
2) crash starts, slows as people move out of tether but bleeds out and continues crashing as everyone runs

if senario 1 occurs, and you are willing to take the risk, you can make shit tons of money if you have the right coins and have access to usd pairs, but you have to know when to cut and run, senario 2, sell for fiat, and if you can, go short with massive leverage and ride that shit down.

high risk play:
get it wrong and at worst you lose a lot on your short, or while holding and waiting for the pump

low risk play:
cash out and miss out on the bull run of a lifetime, likely dwarfing the run from nov/dec

[Anonymous No.7054272]

>>7054032
even if tether crashes, if there is enough tether in the market compared to actual USD, then the USD price of bitcoin will follow the USDT price.
this depends on how much tether vs fiat is in the market, and a few other factors, but could still spike fiat price as well

[Anonymous No.7054346]

>Literally 0.003% of the market.
>People will either lose all their tether or move it into other coins.
Your acting like it's the end of the world.

[Anonymous No.7054427]

TETHER DEATH SPIRAL EXPLAINED
>Making sense of the Tether situation
https://steemit.com/cryptocurrency/@cryptoscopia/making-sense-of-the-tether-situation
>What Happens When the Tether Shit Hits the Fan?
https://hackernoon.com/what-will-happen-when-the-shit-hits-the-fan-with-tether-f59f92fd8dca
>Tether Traffic Light
http://www.blocklink.info

[Anonymous No.7054430]

>>7053986
Did you read the Tether white paper? Because it would be Tether calling for Tether to prove its solvency.

[Anonymous No.7054478]

Lol you retards. Do you see BTC volume in last few days? It cannot stay above 12k because volume is fucking terrible. This has nothing to do with tether and all to do with BTC being straight out garbage.

[Anonymous No.7054488]

>>7053618
Ausfag here. From what I understand, classic ameriburger style; print more money for what it was supposed to be worth. There is no way there is one for one exchange for 1USD /USDT somewhere in the world as Tether keep printing fake USDT, therefore pumping the market 'unrealistically'. So, if and when the gigs up, all markets connected to USDT will become really volatile. Hedge your bets: cash out in anticipation everything's going back to'true' median with a massive bear market; buy a heap of ETH or coins with 'real' value, or ignore the FUD and put your fingers in yo ears and close your eyes.

Personally, I'm buying up Japanese projects. Coins with purpose or 'value' to the community. I'll hedge my bets with MONAcoin. 65% of its value is Japanese Yen. Actual money. No USDT pair. That and ETH, Saudi Coins and Chinese Coins. Nobody wants deflationary MuricaBurger coins with no value. Pic related, it's Mona

[Anonymous No.7054504]

>>7054127
>tethers only enter the market if somebody has paid for them which means they have not created value that did not exist prior
Anon.. they're literally being printed out of ether

[Anonymous No.7054733]

THE NOYIM KNOW!
https://www.express.co.uk/finance/city/911293/Bitcoin-price-crash-cryptocurrency-tether-Bitfinex-dollars-market-investors-value-latest

[Anonymous No.7054799]

Every time I seriously look into this "tether imploding" business, all I find is lukewarm evidence, if any. It's like there are a few, really loud and obnoxious voices repeating the same mantras over and over, without much substance behind it. I come to /biz/, and the implosion seems like such a certainty, like everyone is on the same page is so so sure of themselves. I think it's 90% bullshit, some kind of mass hysteria/hypnosis.

[Anonymous No.7054983]

>>7054504

i dont think you understand, anon.

[Anonymous No.7055028]

>>7054799
it's 100% bullshit

[Anonymous No.7055046]

>>7054799
even if they prove they are legit these loud people will just double down with the theories. they will never be satisfied guarentee it

[Anonymous No.7055087]

>>7054799
https://en.wikipedia.org/wiki/Belief_perseverance

[Anonymous No.7055960]

>>7050378
>He's a crazy guy and doesn't care about anything
He cares about the truth you lambo seeking brainlet.
Didn't you ever think the cryptocurrency boom was to good to be true?

[Anonymous No.7056006]

>>7051546
Look at 24 hour volume friend

[Anonymous No.7056057]

>>7054504
>Print Tether
>Give it to exchange
>Exchange has Tether reserves
>Someone sells BTC for Tether
>He can't cash out of the Tether. He has to rebuy BTC/LTC/ETH
>Exchange gets their tether back, always

See? That wasn't so hard.

[Anonymous No.7056091]

>>7050378
Yeah, fuck that weakhanded piece of shit

[Anonymous No.7056177]

>>7056057
Having said this; this is what happens.

When Tether gets printed, every exchange gets part of it for their reserves. They don't go to every exchange and buy BTC for the Tether in order to inject the appropriate amount of Tether to that particular exchange.

The only thing fishy about Tether is whether they can back up the statement about being backed on a 1:1 ratio against the USD. Anything else is dumb fucking conspiracy theories.

[Anonymous No.7056220]

>>7055046
Audit

[Anonymous No.7056236]

>>7055960

>cares about the truth

Nigger, you are flat out retarded.

[Anonymous No.7056253]

>>7053206
Such a sad pathetic attention whore fucking up the market several times already

[Anonymous No.7056287]

>>7056236
Why? At least try to argue instead of flinging shit at me you fucking monkey

[Anonymous No.7056336]

>>7054488
>Monacoin
so many Japanese people must have jumped in front of trains because of it

[Anonymous No.7056341]

>>7048540
crypto is a SCAM.. youve been warned

[Anonymous No.7056346]

>>7056287
See >>7056177

They didn't use the Tether to purchase BTC on various exchanges to inject the appropriate amount of Tether to each exchange.

This Tether conspiracy theory has nothing to do with how Tether propped up the price, but everything to do with whether Tether really backs it up on a 1:1 ratio against the USD.

[Anonymous No.7056446]

>>7048706

invest in 0x

[Anonymous No.7056486]

>>7049891
HES A FUCKING KIKE
CRASHING MARKETS IS WHAT THEY DO

[Anonymous No.7056547]

>>7056057
All of that is predicated on their being one real USD held in reserve for every UDSDT that gets printed dumb brainlet. You're describing a process of how Tether works once it enters the market based upon the general assumption that Tether really do have USD to USDT dollar for dollar backing. The scam is that that assumption is manifestly false, and that Tethers are printed without matching USD reserves, hence out of "aether".

[Anonymous No.7056570]

>>7054478
>BTC being straight out garbage.

Let's say BTC is in a dumpster, tether is kind of like pissing in that dumpster, until the BTC is now about 2% piss in addition to the garbage it already was.

[Anonymous No.7056637]

>>7056547
Really, this is nothing but uncomfirmed, and somewhat paranoid suspicion.

[Anonymous No.7056877]

>>7056637
>just trust us dumb fucks
>1.6 billion plus printed
>less than 50 million under a year ago when actual USD deposits closed and banks cut them off from real money
>auditor walks away

[Anonymous No.7056943]

>>7056547
With Tether being given directly to the exchanges for them to store in their reserve, it does not impact the price of BTC.

>Anon sells BTC for Tether
>Anon has to buy BTC with Tether

The only thing that can be argued is whether it's actually backed up by USD, as to give its holders a feeling of relief. Which has zero to do with propping up the markets.

[Anonymous No.7057100]

>>7056943
>buy/sell bitcoin for USDT that assumes that 1 USDT = 1 USD
>in reality USDT are beung printed from aether and 1 USDT = 0 USD
>1.6 billion of monopoly money injected into market on the assumption of 1 USDT = 1 USD
>doesn't inflate/affect the value of bitcoin because i posted a wojak

[Anonymous No.7057108]

>>7050378
You're a moron. Every day this scam goes on the damage to the entire ecosystem is compounding.
It is better for crypto if this shit implodes sooner than later. Or maybe you want to see them print another 3 billion of funbux made of thin air and inflate everything so much by the time this market crashes we will all hold mount everest sized bags, lol.

[Anonymous No.7057242]

>>7057100
ur a fucking moron
reddit dramaqueen
>sell usdt for btc
>sell btc for dollar
>voila, magic

not so hard to understand fucker, eh?

[Anonymous No.7057292]

>>7057108
stop it you bastid I can only be so erect

plz print moar funbucks

[Anonymous No.7057317]

Dump everything you have and put it all on POWH. You literally cannot lose if you hold.

[Anonymous No.7057325]

>>7057100
I'll try to slow it down even more, since you seem to be a little dense.

>Paul buys 1 Bitcoin for FIAT
>Paul registers on Binance to buy NEO
>Paul thinks NEO is crashing, so he sells NEO for Tether
>When NEO stops crashing, Paul uses the same Tether to re-purchase NEO

No additional value was injected into the market.

[Anonymous No.7057376]

>>7057325
Dont bother arguing with them
A few months ago it was all "bitfinex is printing tether to market buy btc on their own exchange with 25x leverage". They are retards.

[Anonymous No.7057388]

>>7056877
It's all bullshit. I don't fucking believe a word that dribbles out of your pie hole.

[Anonymous No.7057400]

>>7057242
>>sell usdt for btc
On the assumption that 1 USDT = 1 USD, when in reality 1 USDT = 0 USD.

The ONLY reason USDT has any role is because it presents itself as a "stable coin", and it's a "stable coin" because it purports to have 1 USD in reserve for every 1 USDT issued. Except it just prints billions. And those billions get used as if they were "stable coins" backed by 1:1 USD reserves (that will be worth a stable 1 USD at any future point) to buy and sell bitcoins at X price when in reality there is no stable future value for USDT because the premise underlying that stable value, 1:1 USD reserves, isn't true.

[Anonymous No.7057402]

[Anonymous No.7057422]

>>7057400
>when in reality 1 USDT = 0 USD
when in reality only the market can dictate the value of something. if people are trading it as $1, its worth $1.
econ 101 dick weed. should have paid attention in middle school.

[Anonymous No.7057438]

>>7048540
It’s about time the cryptomeme empire crashed. I want my cheap GPUs back.

[Anonymous No.7057459]

>>7057292
I mean it would be hilarious to watch those assholes print another 5 or 10 fucking billion hot potatoes before all the idiots wake up and see the emperor is naked but I doubt we want to see the absolute nuclear meltdown of entire cryptospace that would follow.

[Anonymous No.7057461]

>>7057438
Tether will collapse if everyone tries to cash out. If people are cashing out crypto is done anyway so who cares about tether?

[Anonymous No.7057462]

>>7057325
>Bitfinex prints tether
>Buys bitcoin/shitcoins for said tether
>Sells said bitcoins for real USD
Monopoly money>bitcoin>USD

[Anonymous No.7057476]

>>7057422
Bitfinex has stated that every tether is backed by one dollar and they can't provide proof of that.

[Anonymous No.7057503]

>>7057400
no u fucking dramaqueen, on the assumption that tether sells the btc you paid for usdt for dollars

voila, magic

not so hard to understand, eh?
now go back to ur fearcirclejerking on reddit

ur the perfect example of dunning-kruger
kys

[Anonymous No.7057532]

>>7050595
heh............

[Anonymous No.7057703]

It's absolutely hilarious to watch those still in denial. If it were a stock market investors would already run for the hills the moment they see how tether and bitfinex are dicking around and using weak excuses to hide their scam.
I mean who the fuck is retarded enough to buy this "We started an audit, but we aren’t going to finish it because it’s hard and stuff." crap? What are you fucking 9? Jesus, and there are fuckton of brainlets out there who don't even know what Tether is. This will get ugly, put on your brown pants boys.

[Anonymous No.7057860]

>>7057703
so you cashed out entirely already?
no? why not?

maybe u don't believe in ur own stupid assumptions? maybe u only like the slight thrill the negativity gives u und ur /dramaqueen fagbrothers?
explain pls

[Anonymous No.7057888]

>>7057703
It's not a scam it's not even a ponzi scheme.
Nobody should be cashing out of crypto and selling their USDT for USD.
Tether is good. It's all or nothing. If people sell their crypto, crypto will be finished anyway, tether or no tether.
Tether is irrelevant because cashing out will collapse it all anyway.

[Anonymous No.7057964]

>>7057860
I don't believe Tether crashing will completely implode BTC price. It may even be good in the long term. Losers will want to cash out of Tether once the word spreads out. They will go for safer options like ETH and BTC. The rise of their price may even mitigate the effect of Tether crash, who knows. But we need to cut this cancer out before it does too much damage. Do everybody needs to cash out every crypto? Not necessarily. Does it make you a brainless zombie to hold worthless tether right now even for a second? Definitely yes. Personally I'd just wait and don't buy anything new before this train crashes.

[Anonymous No.7057997]

>>7053986
Private banks ARE audited you absolute dumbass.

[Anonymous No.7058951]

>>7057459
They WILL print more of their toilet paper just like the US government.

It will implode eventually, would be pretty hilarious to watch. I don't even give a shit cuz I only threw in play money, I'm just waiting for all the pink wojacks from all the pajeets around this shitpile after they lose all their rupees.

[Anonymous No.7058991]

>>7057703
Its so ironic that crypto is supposed to be the answer to monopolies and centralized power, and yet here comes tether to fuck it all up.

[Anonymous No.7059190]

>>7058991
Ikr. Letz run away from theze bad FED people who print worthless moniez guyz! O hai mr Tether, mai I have anoter 100m dicks? I need liquidity sir.

>Sure anon, why not you take 850m instead? we just printed it this January. Just for you.

[Anonymous No.7060166]

>>7059190
lmao

mynigga.jpg

[Anonymous No.7060199]

>>7057997
Dumbass