/biz/ - Business & Finance

>>14711085
>Nothing, tether will collapse and finex will get fucked. BTC will cary on as usual, unless finex decides to massively exitscam and massively sell btc which is unlikely

the absolute state of /biz/. by and large, the crypto market is 100% reflexive, ran on emotion and the assumption of, and reaction to, perceived emotions. it's the reason that soros bought bitcoin. if bitfinex goes down and tether goes with it then bitcoin will dump hard too.

what happens when traders see the number 1 volume coin disappear in an instant? what happens when there's a panic and rush for the exit to sell their coins and tokens at the highest (tether inflated) price possible but people realise they can't withdraw because binance is probably running on fractional reserves? what happens when the bitcoin mempool gets bottlenecked instantly with withdrawal tx's? what happens to all the USDT pairs on ALL exchanges? who takes the L and carries the loss?

also, it takes less dollar value (in btc) to dump bitcoin than it costs in dollars to push the price up. there's a reason why it's nicknamed 'ponzi'. mark my words, because of fucking tether, the collapse of bitfinex *will* be worse than mt gox.