/biz/ - Business & Finance

Hint: most of the buys of BTC are not being bought for USD. There are relatively few people paying $40k USD for a single BTC.

$40k USDT for a BTC, on the other hand, is Bitfinex's business model.

gee anon it's a mystery

>>25671803
>tether would have already crashed
If you're looking at the right information, you realise that it already is crashing.

>>25671860
>holy shit this seems like a ridiculous financial superstructure placed on BTC's alleged original determinants of market value.
It will go down as the biggest financial scam in history. There's going to be great documentaries about it in a few years. More than 700 billion dollars of value could disappear overnight if 1 USDT does not equal 1 USD. This is nothing like 2017, don't listen to people saying this is standard fud. This is a financial apocalypse waiting to happen.

>USD inflating dramatically, driving up prices denominated in USD
>/biz/ is completely in agreement on this
>USDT also inflating dramatically, driving up prices denominated in USDT
>70% of all BTC traded is denominated in USDT
>therefore when more USDT is printed, and the supply is inflated, BTC goes up because of inflation
>if you can't exchange those $25,000,000,000 USDT for USD, then this is false inflation and a ponzi
>/biz/ REEs about this
>since March alone, the supply of Tether has gone from $4b to $22b. A 550% increase.
>BTC, in that time, went from $5k to $30k. A 600% increase.
Yes, Tether fud has been around for years. But if you don't realise how different this post-March environment is, you should be extremely concerned. Everything denominated in Tether on exchanges would moon to astronomical levels. But if anyone tried to cash this out into USD, it would trigger an astronomical rout. BTC will moon extremely hard before it dumps. It might be 50k, it might be 100k, it might be 200k, but this will be the BTC-USDT price and you unironically won't be able to cash that out into USD.