/biz/ - Business & Finance

>lost access
never had it

>>13436734
This desu

THANKS A LOT TETHER SCAMMERS

>>13436716
Does this mean money that was coming back into btc just ceased to exist?

>>13436716
Are you trying to tell me the Chinese were scamming?

>>13436748
im not sure about that but it means everyone holding Tether is fucked big time

I recommend getting out of Tether ASAP

get your bitcoins, and get them off fucking Bitfinex

>>13436772
bitcoin is falling

>>13436786
> tether stolen from an exchange
> it's bitcoin's fault

????

This is like saying a bank got robbed but you blame USD

>>13436786
YEAH NO SHIT

THANKS CHINK SCAMMERS

>>13436798
>>13436804
retards
nobody is selling their tethers, that is my point

>>13436748
This would be absolutely fucking hilarious desu. People JUSTed across the board because they tried to maximise gains instead of being patient and holding. Pls let it happen basedgod.

Load ze tether fud

>>13436809
ok enjoy holding your monopoly money

BUSTED!!!!

>>13436809
Why wouldn't you sell tethers? They inflated the supply. 850 million tethers is backed up by nothing.

What do you think tethers are going to be sold for? I'll give you a guess, it starts with a B.

is this bad or something

>>13436835
gee I dunno what do you think

>>13436822
what makes you think I hold tether

>>13436829
you tell me
people should be buying btc en masse right now to migrate off exchanges

holly shit the finex premium is gone

>>13436716
shieeeeeeeeeeeeeeeeeeeeeeeeeeeeeet

why is btc price in tether dropping then? isn't it supposed to actually pump in usdt if people get out of it to buy btc?

Guess that was the Kraken sell-off someone knew.

>>13436716
HOLY SHIT GUYS QUICK SELL INTO TETHER GOGOGO!

Binance is next.

>>13436846
right

buying BTC = more BTC buy orders, more demand, should lead to higher prices

That's after the retards realize this

>>13436749
Imagine my shock.

>>13436867
because people are retards and still think its smart to turn their precious BTC into worthless tethers

also BTC/USD is crashing on real exchanges thanks to shaken confidence

>>13436882
LMAO THIS NIGGA CAN'T WINK

>>13436898

Yeah, confidence maybe. But surely people will realize people will sell Tethers for BTC and BTC's price will increase.

>>13436716
holy shit literally $2k incoming lmaooo

>>13436883
Buying more btc with something that has no value. USDT≠USD. That btc will be sold into illiquid currency exchanges like kraken. When you realize over 90% of the volume in these markets is with tether you understand that fiat will not hold up the market.

expect this premium to grow by a lot as people flee USDT

>>13436942

So USDT is no longer the stable coin, and the only other possible coin to hold value on these exchanges is bitcoin. Doesn't that mean bitcoin prices go up?

>>13436961
No it's probably going back to 3k again. We are fucked

So tether is literally worthless and people can't move to Fiat directly. They're gonna all go into Bitcoin.

>>13436961
No because people holding tether do not want to be holding bitcoin. It's the start of a panic exit. BTC is purely speculative, time to hop off the hopium, you alongside many others clearly haven't even thought about this seriously. If the market did tether would have lost all its value a year ago.

>>13436998
Hey faggot, for USDT holders to go into bitcoin somebody will have to be willing to trade their BTC for worthless USDT. Tether holders are fucked, BTC holders are going to take shelter in USD by selling on legit exchanges. Want to know how much buy pressure there is on a genuine exchange? KEK

Perfect news to finally kill the pump. If you're selling your tethers you're not playing the game right.

>>13436961
I would think so too. All those retards that thought they could have comfy crypto-USD will soon try to exchange these illusions of money into something more tangible like Bitcoin.

>>13436977
That only makes sense if people are selling BTC and withdrawing to fiat.

But that's not necessary to get out of tether. All you have to do is sell tether for BTC and get off of bitfinex.

>>13437003
Ok, if they don't want to hold bitcoin, they hold any other alt, or they sell their USDT for USD. How does selling USDT for USD affect bitcoin negatively? USDT isn't even a crypto. In other words, how does an altcoin tank bitcoin when bitcoin can only be a savior in this case?

>>13436918
Yea, no...smart people realized BTC price was propped up by non backed up imaginary tokens and will sell for real $$ on real exchanges.

>>13437024
I can't make it any simpler for you if you don't understand you never will

>>13437034
nobody is going to want your tethers

>>13436961

lol, any instability is ironed out by basic economics.

Bitfinex just needs to buy 850M tether from the market and then destory it to balance there books. Funny thing is that the pajeets will sell it to them at a discounted rate; the likelihood is that Bitfinex will profit from this.

what's gonna happen to tether, just sold at 5400$ few hours ago on binance

>>13437034
There's a bank. The bank trades euros, USD, japanese yen, etc.

Authorities find out that this bank has been printing fake japanese yen.

So if you have japanese yen from this bank, what do you trade it for? Anything but the japanese yen right? That's all you have to do to solve the problem of fake japanese yen.

>>13437044
That would actually be fucking hilarious. If they all just exitscam giving nobody the opportunity to even swap it lmao.

>>13436942
bitcoin should pump as it did back in october, nobody is expecting it to hold that price
unless nobody bothers to cash out which is what seems to be the case right now

>>13437013
>worthless usdt
it's worth $0.99 as of right now and the news hasn't had a significant impact at all
this is very surprising

>>13437048
bitfinex should have no problem paying back the money since they make bank on fees.
the """lost""" $850m should be the main concern right now

>>13437051
jezus christ tether trade is frozen on binance

tether big scam

>>13436716
That bitfinexed twitter guy will be having a field day.
Also
>using the tether fud at 5k instead of 50k

>>13437048
instability sure, that only affects things in the short term. However, long term it shouldn't affect bitcoin negatively... in fact it should help bitcoin

>>13436821
Never gets old

>>13437082
>THIS IS ACTUALLY GOOD FOR BITCOIN

we never should have let the chinese become so dominant in this space.

WHAT'S GONNA HAPPEN TO TETHER

>>13437082

Buying tether now is like buying dollars for 99 cents.

Probably why Bitcoin support disappeared, all the whales will buy back in shortly for further % gains

>>13437131
probably nothing

>>13437131
People will forget about this in a day like they always do while the exchanges keep the gap closed. Long term you get exit scammed once they can no longer continue the game and get left with monopoly money.

>>13437131
Literally nothing. If you have other stable coins it'll give you a good opportunity to buy more tether. Only about 3% so far, but it could go up some more.

>>13437139
no its like buying a $1 IOU for 99c

>>13437145
but trade is frozen on binance. I sold all my BTC to tether at 5400$

>>13437104

People that have been in bitcoin say keep your money off of exchanges, they say don't buy cryptos that's made by companies. Decentralization is the most important.

Yet retards don't listen and this happens. They print money for free and people buy it up. If you traded bitcoin for USDT with this news, you're retarded. Only going the other way around makes sense.

>>13437139
except USDT was just shown that it wasn't backed up by the US dollar. They printed 850M USDT from thin air.

>>13437165
no I'm dumb af. It's not frozen kek

I should go back right in BTC ?

>babbys first tether scare
dont worry its gone be fine. until its not. but until then we are fine

>>13436746

>>13437048
tether holder cope

bitfinex is kill and so is tether. Imma grab some popcorn, dis gonna be good

>>13437197
It never was. It's always been backed up by an equivalent value of crypto and fiat. Not as liquid as just usd, but it's there. Also i'd like to know what they mean by 'lost' 850 million.

should I go back in BTC from tether now ?

God damn is this a coincidence or fucking manipulated fud to dump BTC because of the golden cross and the 50MA resistance ?

Holy fuck

>>13437248
been waiting for this shit for too long

>>13437255
the golden cross timing is TOO suspicious

>>13437251
btw, btc is gonna paint a bearflag for a few more hours and then dump again. I'm looking for a retest of the long term downtrend line to buy again.

>>13437248
I don't hold any USDT lol

>>13437288
agree

>>13436786
ya this should be causing bitcoin to pump. unless there are enough usdt/usd offramps?

FAQ
>Why is Tether not crashing?
Wash trading bots. Once those go off it's game over.
>Should I get out of Tether?
Yes.
>Is BTC going to crash
Relief rally because people cash out of Tether and after that likely back to 3k support.

AND I JUST BOUGHT BACK IN TODAY AFTER LIKE A YEAR

Calm down guys, CME bitcoin futures end today. They just want to manipulate the price to maximize gains.

>>13436821
China ban fud when?

>>13436961
who the fuck was still using USDT anyway? after all the scandal?!?!

retards there were other decent stablecoins

So, what's the best stable coin ?

>>13437491

Already happened like two weeks ago lol

>>13437461
just looked further into it
essentially this is what is happening
>bitfinex is being sued for supposedly offering its services to NY residents
>as part of the lawsuit it has been revealed that finex got robbed by crypto capital for $850m and used tether's funds to cover the loss
>headlines are screaming about tether when it has nothing to do with the lawsuit
>this information proves that tether has reserves which is why tether is not imploding despite what all of the FUD that you morons are being fed

>>13437478
don't post a faq as if you're not a clueless drone.

>>13437013
orderbooks will be cleared then at minimum. RIP idiots who go to sleep with open usdt buys.

>>13437482
oh yeah :))
jews at it again
https://www.cmegroup.com/trading/equity-index/us-index/bitcoin_contract_specifications.html

>>13437519
USD

>>13437522
and where did the $850m for the cover up come from?

>>13437021
t. Mr. Life Savings in usdt

>>13437535
Now that's a good joke.

>>13437519
LTC? XMR?
That's where I am hiding some rn

>>13437550
tether reserves

>>13437522
Tether Inc already admitted that tether isn't 1:1
https://breakermag.com/tether-now-admits-its-not-fully-backed-by-dollars/

>>13437570
and where do they get tether reserves from?

>>13437585
They say it's backed by assets and that its value is PEGGED to 1 USD because Tether regards 1 Tether of the equivalent value of 1 USD. But it doesn't actually have the cash reserves. It is pegged cause they're washtrading it.

Long bitcorn, short tether

>>13437251
>i'd like to know what they mean by 'lost' 850 million
Hmmm.. tricky one to decipher alright. What could they have meant by this, 'lost, 850 million' ?

>>13437570
>>13437600
what was the original $850M though? users funds? if so then it's not necessarily that bad as long as their isn't a run on the exchange.

tether is fucked though
>850M unbacked tether floating around

>crash now
>rally again in a month to 5800
>crash back to 3k after
>Bitfinex start to buy up cheap BTC again after selling their tethers at 5800 and on the way down.
>eventually market pumos
>Bitfinex win again

When will u fags learn

>>13437736
why the fuck would bitfinex have tethers? they are trying to petrodollar that shit, not the opposite.

Only weak handed faggots used tether anyway. And why would there be a dollar backing every tether when there isn't a gold.standard

>>13437850
bitfinex can print USDT at will. That's what they did to cover 850M in losses

so yeah, bitfinex has tethers. In fact they control tether.

I knew a guy once, he always said don't touch anything which involves chinks. This has proven to be right over and over again.

>>13437879
good point. assuming people are still willing to sell their btc for tethers after this shitshow.

>>13437850

You do not understand the game.

>>13437879

More or less. I have tracked this for months. In 9 weeks, 756M tether has been taken out of the treasury and put into circulation correlating with the pump. This is why i have been long since this started.

Yesterday finally the treasury was down the the last 2m. First time ever in history. 300M was printed suddenly and immediately some sent to Kraken(10m).

Mystery solved. Now the next phase. Bitfinex will sell their BTC for a while while price is stable, and on another pump from 5400-5800. They will then let market crash and sell on the way down till 3k(or lower) where they buy back in with huge profits. (Remember that tether doesnt need to be backed 1:1, and Collateral such as BTC is used). Then they pump their BTC unload and make bank. Repeat again.

This is the 3rd time its happened like this, but used to happen on smaller scale monthly

>>13436961
I use USDC only so I can transfer ezpz from Binance to Goybase

Is this related to that flash on Kraken earlier today?