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/biz/ - Business & Finance

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14890214 No.14890214 [Reply] [Original]

>Print more Tether
>Market pumps
>Sell off Bitcoin
>Market dumps
>Print more Tether
>Market pumps
>Sell off Bitcoin
>Market dumps

How long do you think this will continue?

>> No.14890222

About 9 more days

>> No.14890237

>>14890222
Maybe less. The inevitable burns might actually begin soon

>> No.14890242
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14890242

>>14890222
based trips

>> No.14890250

>>14890214
Should 4chin have a 'proof of skin' algo to keep the sub-100iq "muh tether print" fud to a minimum?

>> No.14890259

>>14890214
forever and infinity + 1

>> No.14890274

>>14890237
What do you mean by that? Will they burn Tether, or will Bitcoin get burned?

>> No.14890293

>>14890250
The bitfinex/USD price trailed the stable coin prices of btc this entire run up. On the dumps, the btc/usd price lagged behind the others.

What does this mean? It means the pumps were caused by stablecoin buying, and the dumps were caused by USD selling. That’s all it means.

They will have to present evidence they are solvent soon. They can either double down on the ponzi and risk a complete blow up, or starting burning and try to save what’s left.

>> No.14890307

>>14890274
Burning a stablecoin just means reducing its total supply by sending some of it to an unrecoverable address

>> No.14890329
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14890329

>>14890250
100% backed nigga

>> No.14890380

>>14890307
Yeah, I get that, but I didn't know that that's what you meant. I thought you might meant that bitcoin got burned - as in rekt price wise..

>> No.14890405

>>14890380
burning tether = btc dump

>> No.14890414

>>14890405
Can you explain the correlation?

>> No.14890415

>>14890405
This. The moment the burns start bots will start dumping

>> No.14890436

>>14890214
How low is Bitcoin dumping when the US government puts an end to the Bitfinex/Tether meme

>> No.14890439

>>14890405
Lol are you kidding me? There’s no more money keeping the btc price afloat

>> No.14890447

>>14890436
What was the price of btc in 2015 before tether started printing?

250. There’s your answer. We might actually dump lower temporarily on the panic capitulation

>> No.14890461
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14890461

>>14890414
no more buying pressure basically
in October last year they they burned 1B USDT and btc crashed 1 month later

>> No.14890492

>>14890461
Makes sense. Thanks.

>> No.14890505

>>14890447
I think it's gonna dump, maybe flash cash pretty low, but it will never go bellow 1k maybe not even 3k
like it or not there's a lot more retail money than in 2015 now, finex plan worked perfectly in 2017 they managed to create fomo, and get the normies to buy, not happening this time so far

>> No.14890529
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14890529

>>14890293
They can just do this:
>Print 100m USDT
>Buy BTC for with 100m USDT
>Sell BTC for USD
>Now that 100m USDT is backed by 100m USD

>> No.14890545

>>14890529
No brainlet, they can’t if the market sells into them, which is exactly what has been happening. They actually just end up with larger bags of unbanked tether.

For the scenario you described to unfold they would have needed another normie fomo bubble, but it hasn’t happened. They’re screwed

>> No.14890571

>>14890529
>Buy BTC for with 100m USDT
...and what happens to the guy who sold BTC and gained 100M USDT....when he tries to cashout to USD and can't does he complain? If so where is the evidence of those non-redeemable USDT's in the marketplace?
Oh, there is none....please post proof-of-skin to continue

>> No.14890600

>>14890571
USDT isn't backed 1-1 but it's still backed to some extend, so as long as everybody isn't cashing out at once it's ok
most peoples selling into USDT hope to buy back either alts or BTC cheaper

>> No.14890609

>>14890600
The thing is, you can’t even cash out USDT for USD. It was NEVER the case

It’s pretty insane that the market swallowed this bullshit

>> No.14890790

>>14890609
yes it was
until September last years when they really started having massive issue and peoples could not withdraw
because the supposed "banks" which loaned the money defaulted on them some flat out disappeared then there was the ones in Poland and Portugal who got raided and fund were confiscated
the situation is mess honestly

>> No.14890804

>>14890790
Holy shit, so at one point you could actually cash out usdt for usd? Lmao those days are never coming back. How the fuck has the market accepted this bullshit?

>> No.14890856
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14890856

9 days until bitcoins hits $1000

>> No.14890863

>>14890856
Moonbaby cope

>> No.14890924

>>14890863
I actually didn't mean to post an NPC with that. I really do think bitcoin is going to hit $1000

>> No.14890979

>>14890804
Thats the million dollar question.The only reasonable answer is that people are so deluded by the gold at the end of the rainbow, that they have collectively chose to ignore the scam.NYAG taking tether down will hit them like they wont believe.

>> No.14891004

>>14890924
Ok I’ll take back by insult then.

I’m covering at 250 bobros and not a penny more