/biz/ - Business & Finance

>>25835517

While Bitcoin might not be flat out delisted, banks are now increasingly cracking down on crypto and it won't be long until it's going to be borderline impossible to get money in or out of this through mainstream banks.
And when Tether turns out to be a scam and that blows open, we can expect the price to tank even more and then come the strict regulations which tighten the noose even further.
Bitcoin can very easily end up being unobtanium through regulation, which is as good as banning it.

>>25794894
I want clarity and honestly in the world of crypto, because that's the only thing that will allow it to exist and remain usable by the average Joe.
I love fast profits as much as the next guy, but I'm not willing to put on blinders and say
>Hurr just forget it mang, it's totally backed and everything is great.
>See how it's climbing? We're all going to be rich!
Yeah you and every other person who rode a bubble up, but strangely enough there aren't that many winners once things pop. Bubbles harm everyone except few people, especially when they go up without fundamentals.
/biz/ will be shitting out blood when this thing pops despite everyone now being deep in the green.

If the world of crypto remains sketchy as fuck with things like this, it's only one rug pull a way from tanking in an instant.
Do you want to invest in a market that can drop 90% when you're sleeping?
And like I mentioned, if or more like once this thing gets exposed, it will invite every single regulatory authority to look at crypto with insane prejudice and banks will flat out stop accepting crypto profits, due to it's now proven criminal nature.
Something HSBC just recently did. They won't allow people to move crypto money through them anymore.
Where are you going to cash out when your only option is to establish a Panama or Swiss bank account and pull your wealth out that way?

>>25794994
You're the one with a headcanon about a USD backed coin that admittedly wasn't backed with 1/20th of the market cap it now has.

>>25795258
In a way it's not.
But at least in the situation of honest business of selling mined coins, there's no lie about a dollar equivalent being backed by real world currency. Everyone knows what they're dealing with.
In this situation with Tether we're basically looking at genuine money counterfeiting scandal.

>>25795359
>NOOO IT CAN'T FALL!!! NOT MY BITCOINERIINOO!!
Keep that head in the sand buddy.