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13443249 No.13443249 [Reply] [Original]

if the SEC investigated and shut down Tether and it was worth $0.00, would we see BTC moon violently?

I'm a brainlet

>> No.13443255

no

>> No.13443272

>>13443255
ok

>> No.13443352

this is going to be one of the bigest crysis in crypto and you are talking about moon. My god.

>> No.13443359

>>13443352
you seem to forget when bitfinex got hacked

>> No.13443363

>>13443249
it would be isolated to non-fiat exchanges with usdt pairs like binance

>> No.13443368

if it was true that the 2017 bull run was propped by fake tethers, then btc will crash violently in USD, while moon in USDT

>> No.13443384
File: 158 KB, 112x112, 1554406221442.gif [View same] [iqdb] [saucenao] [google]
13443384

>>13443249
Yes, BTC will moon in USDT but crash in USD.

>> No.13443410

>>13443368
See you on the ground floor.

>> No.13443498

>>13443384
but wouldn't it be like a massive massive coin burn for the total market cap? and it would rid the space of the cancer that is tether.

>> No.13443535

>>13443498
>massive massive coin burn for the total market cap?
what? imagine all the US dollars that used to buy boomer stocks suddenly burned. these stocks are backed by nothing. what do you think will happen?

>> No.13443927

>>13443535
why does crypto have to be back by USD?
isnt that exactly the opposite of the point of crypto?

I really can't see how this is a bad thing, it's like ripping a bandaid off

>> No.13443952

>>13443249
most certainly. There's no logical way it could cause a dump.

>> No.13443968

>>13443384
why would it crash in USD? It makes sense for people to dump their tether at any price for BTC, but where's the logic in then selling for USD? It won't effect the larger market.

>> No.13443986

all that fud i cant get how stupid you people are. one year back they fudded the shit out of tether right on this board in the exact same way.

>> No.13443988

>>13443927
Can you buy a loaf of bread with any of your shitcoins? No, to give it any real world value it's easiest to tie it to fiat and just talk about the fiat value.

>> No.13443994

To add, anyone who has tether who missed out on the panic dump on tether to $0 is just out of the market (at least for the portion of their portfolio in tether). It's not like they have any market power to dump BTC for USD (and why would they anyway).

>> No.13444021

>>13443498
Tether dying would be bullish long term but bearish short term. BTC would dump alongside USDT and then alts would most likely dump alongside BTC. Someday this will happen but nobody really knows when.

>> No.13444034

>>13443927
that's a different thing, and I agree with you, getting rid of tether is good in the long run, but in the current situation, it's really bad for the market.

>> No.13444038

>>13443352
Tether needs to die, no matter the cost. Let the crypto market recover afterwards

>> No.13444069

>>13444034
I've yet to see a logical cause and effect argument for why the death of tether would result in BTC crashing in fiat.

>> No.13444078

I want crypto to crumble just to watch the endless wave of pink wojaks.

>> No.13444089

>>13443927
You're a dense one, lad. See you in the triple digits (ʘʘ)

>> No.13444097

>>13444069
Distrust in crypto in general, adding to the "crypto is a scam" argument.

It's a speculative asset, if people lose faith in crypto the whole market suffers.

>> No.13444126

>>13444097
I get that, but out of the top 10 real volume exchanges, bitfinex only accounts for 14% of volume, and there are countless alternative stable coins now. Everyone kind of is already aware that tether/bitfinex are shady, this is not something new.

I think whales would take advantage of the chaos and dump the price to make profit from shorts, but I don't see a good argument for why it would literally cause BTC to go to 1k or triple figures (or even a sustained renewable of the bear market).

>> No.13444302

No it will not moon, think about who would sell their btc for the worthless tether? to every buy there is a sell. No ones gonna sell their btc for usdt

>> No.13444319
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13444319

Everyone in the market is slowly starting to see this , tether (a bearish liquidity pool) failing is bullish as fuck and will cause panic buying of crypto assets not selling.

>> No.13444336

>>13443249
Every shitcoin with USDT pair would go to the moon.

>> No.13444347

>>13443249
No, but nano would because it's the ideal trading pair (free and instantaneous transactions)

>> No.13444360

>>13443249
yes

>> No.13444407

>>13444021
but if its bullish long term at all then it is just bullish. if people know its only going to be bearish short term then its instantly bullish.

>> No.13444481
File: 148 KB, 277x385, 1542254169869.png [View same] [iqdb] [saucenao] [google]
13444481

>>13444336
>tfw my shitcoin has a USDT pair
OOOOOOOOOOOOOHHHHHHHHHHHHHHH

>> No.13444927

>>13443368
>if it was true that the 2017 bull run was propped by fake tethers
well if 850 million USD got lost according to a court order, then that means at some point they did actually have 850 million at least.

>> No.13444990

https://news.ycombinator.com/item?id=19752699
this thread is maybe interesting to some of you

>> No.13445052

exchanges would then be in the negative and need to sell btc to balance it out

>> No.13445100

>>13443249
it should prove that central authority can't be trusted not with fiat not with crypto especially not with privately issued asset backed crypto.
this should make bitcoin go up but the world is full of retards so it may cause a crash.