/biz/ - Business & Finance

>>13941374
I was waiting for 3k train but ended up just buying in yesterday fuck it you'll never time the market

lol ur late

>>13941374
Alright biz gather round. I figured it out. The secret of Tether and the April bullrun. Here are some facts:

1. It’s clear now that the fresh 1 billion tethers printed was to bring btc to 8500 usd. That is the target price.

2. Tether is backed by cash and not btc: at least 1.5 bil usd worth.

3. Bitfinex and Tether are shady as hell.

4. Bitfinex and Tether dont really give much of a shit about NYAG.

So here’s my theory:

Tether was originally a dual purpose token: both to propel the 2017 bullrun AND as a money laundering mechanism. Interested shady parties including criminal cartels can buy into the fund, and they get paid back clean usd after finex launders the money via USDT. However, the NYAG investigation exposes the backing fund to law enforcement scrutiny, so the criminals and clients now want out.

The problem? All the money has been seized and btc is languishing at an all year low.

Bitfinex has no choice but to no longer give a shit and blatantly print usdt. They push the price up to 8500 or so, which lets them repay the cartel. It’s not the NYAG that they are afraid of, it’s the ultra shady criminals behind them.

>>13941374
Nope, enjoy 9k+ tonight lad.
Shakeout already happened.

>>13941374
6k doubtful.
Average in on the dips.
Too many buyers now.

Yes, one more time, then never again, as BTC continues its inexorable march to $0.

>>13941399
lol you must be new here if you think that was a shakeout

>>13941419
>inexorable march to $0
what cancer boomer fuck are you ?

>>13941395
i would really LOVE to see a graphic with dollars and coins explaining me how that would work in detail.
especially the laundering part

>>13941522
Say you have $650m that is dirty, and you want to turn into real cash.

Bitfinex takes your money and declares they have found an investor for usdt. 1billion usdt issued and pumped into circulation. People buy 350m usdt with real , clean money and use it for trading.

You use the remaining 650m on your own exchange to buy btc slowly, building up btc, trading against users, pumping the price, and siphon off the proceeds in a separate account of fresh usd. Now you have at least 650m usd, possibly more, depends on how you manipulated the price.

The original dirty 650m gets seized by authorities. You keep it quiet,

You show that your usdt is still backed by real usd in the new account. Cant be touched because it’s not linked to the original dirty funds.

Clients come for their original money, you return 650m clean and keep the profits. Then you disappear.

Shit out of luck: idiots holding usdt.

>>13941470
>not only falling for a ponzi but falling for a ponzi AFTER it's been exposed as a ponzi and is mid-collapse

>>13941641
That’s where you’re wrong kiddo. It’s not a ponzi scheme. It’s money launderers who hijacked a legitimate industry and twisted it beyond all recognition.

>>13941641
imagine being schizophrenic enough to believe BTC going to $0 or even $6 any time soon

>>13941419
think about this:

would ANYONE interested in the space let BTC drop to $1000, $500? If I owned a home for 1 million and it depreciated, as the same home, to $50k, would it go to 0? Surely it has some intrinsic value

>>13941664
It won’t reach $0. But once the actors behind bitfinex complete their scheme and disappear, it will collapse back into a new equilibrium of neets supporting the price, which is definitely not $8500 a coin. But once another player enters to control the industry (was mt gox, then bfinex), the price will skyrocket again.

>>13941688
Fair value is $12 a coin

>>13941748
says no one, people are buying btc at $11,000 rn

>>13941778
yeah man, people are paying $11k to buy bitcoin OTC even though they could literally pay $1500 less on coinbase rn

>>13941705
one might argue that real value of BTC is ~420USD according to intrinsic value it had on darkweb before big financial industries and shadow governments figured out you can money launder 1 Billion dollars and pay 15 cents fee to transfer it. Until we see new methods and platforms for that niche I don't see anyone dropping BTC back to it's "real" ~$420 price mark

>>13941797
HAHAHA

>>13941809
>i know, i'll type "hahaha" in all caps, that'll show him and seal my victory! my meme money will make me rich because i'm intrinsically special and deserve everything in life, never mind the fact i'm a basement dwelling virgin with no marketable skills and below average intelligence

>>13941803
Yes, but btc is now tainted by bitfinex’s overly blatant manipulation. But money laundering with a 100%+ return is serious business, so I suppose they could then just jump to any random shitcoin. Btc is like a whore that had its vagina stretched by a bbc one too many times now.

>>13941374
I'm sitting on profit and have my buy orders scaled in for a dump on the monthly.

>>13941825
>projecting this hard

>>13941619
ok i got it now.

you'll get 650m dirty money and 350m clean money.
You now use the 650 usdT to buy bitcoin.
Your dirty money gets seized, you sell your btc against usd and back up usdT with it, keeping profits from the buy - sell difference.

but after that there are 350m new usdt in circulation, which are also backed by usd (the clean money).
the 650M new usdT are bought back and unless you put them in circulation again usdT is perfectly covered.

I had the opportunity to put in 50k when BTC was at $3600. Instead I chose ETH, FML

>>13941947
Yup brilliant right?

You guys are talking +/- 2000 when it’s really a drop in the bucket if you look at the big picture. Invest what you affiorc to and hold until at least next May for the halvening. It also gives enough time for the greedy bankers and investment firms to get on board. The entire market is being artificially suppressed until then.

>>13941374
no, we already tested supports at 8k yesterday, buy now or you will regret FOMOing at 10k

>>13942167
I don’t put much stock into TA, but there has been a large pull back in July if every year, across the board. If the stupid lines could for anything, it may be cheaper to buy around then.

>>13941374
3.5k was the bottom. potentially might see 6k again but the halvening in 2020 i doubt it

>>13941395
binance is bitfinex's child
bitmex is the daddy

>>13941705
kek just think of all the headlines and the bad reputation that will stick to it for another couple years

Tether has the second most volume. No tether = Bitcoin drops to $1k or less.

Tether has been printing like mad the past month. Nearly 1 billion tethers were printed. LEO was a Totally fake way to recoup the $850 million lost in the NYAG debacle . Bitcoin is fucking done

>>13941419
You must have very large shorts open if you believe that. Which I doubt you do.... because you're a boomer.

>>13942645
Wont happen anytime soon so there’s still time to make money.

>>13941419
pretty sure if btc went crashed to $0 everyone and their grandma would try to scoop up the cheapest btc they could get, I know I would

>>13941395
Here's my theory:

You missed the rally, so you're in full on cope mode and trying desperately to rationalize a reason BTC collapses when it's clear that's not going to happen. Kill yourself.

>>13941641
>bitcoin will crash THIS TIME says increasingly nervous boomer nocoiner

>>13941374
I sure hope so but it's not looking promising

Bitcoin has the most daily transactions
Highest average transaction value
Most value moved daily
Most daily active addresses
And is the most secure with the highest hash rate

Real bitcoiners understand this which is why over 50% of bitcoins haven't moved in over 18 months
Over 20% of bitcoins haven't moved in over 5.5 years
They just continue to accumulate