/biz/ - Business & Finance

why is everything else tanking as well? :(

>>8389018
>real instate
dumb anime poster

How do I find happiness while being poor? Please help

a-anyone else met their goal but still kept holding through the ath blinded by greed and now is getting burned for it? please tell me i'm not the only one.

when panic selling my shitcoins, do i dump the ones that i have lost on or do i dump the ones that i have made gains on? i'm a brainlet, please advise

Okay so the doomsayers are saying that tether will gox everyone and kill the market. My question is why would this happen? From what I'm seeing, the whole panic is from how much tether gets printed daily, and the belief that the exchanges/tether guys don't have enough real USD to back it up. I'm not a financial expert, so here are the scenarios I imagine:

Word gets out that tether is a ponzi scheme and the exchanges actually can't cash out 1-1 for USD so everyone holding tether dumps it for ETH/BTC which causes them to pump, tether dies like buttconnect. Sure, the tether holders might lose a little "money" in the process but who cares since BTC will end up growing. Why would bitfinex or other exchanges exit scam over that when they themselves don't hold the tether anymore (since they traded their tether for BTC/ETH/real coins), but instead hold the BTC or whatever that will get pumped due to the massive influx of people escaping tether?

Government audits bitfinex over tether? Okay, they get a cease and desist and gox their users, but there are tons of other exchanges that will have time to dump their tether into real coins before they get audited as well. Every exchange gets audited at the same time? Not possible. Tether scammers get audited? Okay, tether tanks and everyone dumps. Tether value plummets below 1 USD, this becomes another bitconnect, see first scenario.

For the scammers, don't you think they would also be smart enough to keep the scheme going longer? Given the BTC selloffs and minicrash lately, perhaps the tether scammers/buttfenix were cashing out their BTC into USD to have the pool of $1.9 billion USD that they say they have? Thus, they can keep the cycle going on for longer.

Help me understand how this will kill the crypto market. I have low IQ and autism so please be patient and I'll try my best to understand.

>>6306306

I've been in crypto for 6 months and lost everything (1k) on bitmex. Then I took a break until december. I've restarted and I'm now back at 1k but I have no doubt I would be well at 10k-100k if I didn't lose everything and not take a break.