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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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11377868 No.11377868 [Reply] [Original]

>Bitfinex is ignoring customer service requests.
>Tether will be revealed as insolvent in the next few weeks.
>Massive run on Bitfinex will render them in default.
>Massive run will affect Binance and anyone else who trades USDT, causing a cascade of default exchanges
>Collapse of Bitfinex and Binance, et al, will crash the price of BTC to below $1,000.
We're standing before a Mt. Gox style erruption.
>Don't try to short
>Don't tether
>Take everything off of exchanges, especially Bitfinex, immediately, or cash out and wait.

The rest of the year is going to be the year of death. I hope the damage doesn't hit you too hard, anons. Good luck.

>The Good News:
There will be the greatest of all buying opportunities in the next few months. Gather up your fiat and have it ready on the sidelines.

>> No.11377880
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11377880

>>11377868

>> No.11377885

>>11377868
They have been saying this for two years now

>> No.11377964

Bitmex will unironically be safe lol. everyone hates it but they have insane protection and legal coverage. they would love to become market leader unicom.

>> No.11378315

Even tough I agree.
Never will Tether just go insolvent. How can meme token create out of thin air can get insolvent. Aslong BTCs ledger is intact nothing will happen to tether.
The redeemabilty could be the only issue. Current user dont need to redeem USDT directly they just can sell it for BTC and get FIAT on kraken or bitstamp. The day it will get ugly is when users want real USD for their USDT from Tether Inc. The only reason the company actually was created according to them: to redeem USDT to USD. To this day I dont know of a single case where this happened.

>> No.11378317

>>11377964
this, immagine if they added the first 20 coins

>> No.11378394

>>11377868
You guys are fucking stupid. Btc will never go to 1k.

If it were the case there would be a couple big players that see this and not some faggot loser in 4chan.
If it were the case your saying they could increase their btc holdings 6 fold?
Why the fuck would exchanges miss out on the opportunity if it were there. 5 exchanges hold over 100k btc each. 5 of them 6x their holding when btc drops as you can tell us then over half btc supply would be between them, considering lost coins etc there wouldn't be a single coin for anyone to buy. Oh wait supply and demand price of btc skyrockets because then the exchanges have full control of btc.

God fucking damnit I'd beat the piss out of you for being such a fucking wanker man. Running your mouth and you don't even understand how a market moves or operates.

Take your .0004 btc and gamble it cause you got no hope elsewhere.

>> No.11378429

>>11377868
>don’t try to short
????

>> No.11378473

you literally are uninformed.

Volume broke down on all exchanges dramastically. The current infrastructure would be enough for 500 million crypto users. All exchanges are on the verge on profitably and fail to attract new users. Bithumb just today sold 36% of their equity to remain liquid. finex struggles with the fiat off and on ramp since weeks know. coinbase shutting down their instituinal product because no demand. lost a main executive to bakkt.

with another bullrun at the earliest in 2021 exchanges really need to get their shit together . some will shot down no doubt about that.

>> No.11378480

Tether is for losers. Play the game or do something else like flowerpressing.

>> No.11378481

>>11378394
forget to add

>> No.11378510

>>11378394
You sound too emotionally invested anon.

>> No.11378799

It would be interesting to know what is actually going on with finex and tether. My guess is only s small portion of USDT is backed by USD, the rest is backed by BTC they sell off to cover withdrawals as needed. But they need BTC above a certain price to stay solvent and selling BTC to cover withdrawals would crash the price right now.