/biz/ - Business & Finance

I rather not think about it my dude. It would perhaps mean 5-6 year bear market for crypto and "back to the stone age" prices

I don’t think the untethering is likely. But for now I’m going 50/50 on btc and xmr, looking for projects that wouldn’t crash if this black swan happens. All the DeFi lending projects shilled here would tank

>>25269207
>looking for projects that wouldn’t crash if this black swan happens

>>25269025
Not really. I think that even if tether explodes BTC has enough new buyers that the effect wont be as bad as some think.

It's like the Mt. Gox coins. I just want it to be over already so we can all just move on.

>>25269311
I think it will be massive fud that'll bring btc down to 23k for me to buy more

I was a bit worried. But thinking on it I don't think these large institutions would be buying if there was much risk of this. People like Grayscale or microstrategy have to have way better intel than us

not one bit. fuck stable coins and fuck promissory notes.

>>25269347
>down to 23k
try 2.3k

I hope Tether Chad walks into court and drops reams of documented proof of reserves to that liberal nigger bitch

>>25269382
>>25269402
I don’t get why people think this would affect btc. 20T in stablecoin being unpegged wouldn’t dip the 500T market cap Bitcoin that much. Alts would be rely though, because they are all leveraged on each other.

>>25269462
Tether is backed with BTC. If Tether crashes, they need to sell BTC to give the money back.

>>25269025
If tether tanks then crypto tanks and kikes and chinks don't want that since they're all in crypto.

Kikes will use tether to pump bitcoin to a million or whatever, then they will kill of tether and reset everything for another hypercycle. Screencap this. This xrp sec lawsuit has proven how easy you can kill a coin. The top might not be a million too obvious, only they know how high they will push it.
Dirt cheap BTC will come again in our lifetime, just be sure to buy and don't fall for the astonomical fud that will surround it saying its dead for good, ponzi, etc.

>>25269544
I know. But there’s so much buy pressure. Btc would dip short term. So what?

>>25269462
>99% of volume collapses with a single letter from the SEC
>"I DONT GET IT GUYS"

absolute baboon, there would be a run on the bank, tether liquidates their BTC, which causes even more bailing, at which point tether cannot pay back everything it lended (they are maybe <10x leveraged or some shit on their hard reserves)

so basically bobo will own biz until FED coin shows up and cleans house

What could they possibly do?

>no one gives a shit about the tether lawsuit
>everyone is freaking out about the xrp lawsuit
Hmm, where's the fud directed and where are the shills trying to project calm?

>>25269661
>99%
Where did you pull that out of?
Yea, there’d be a sell off. A lot of exchanges would collapse. A lot of Alts would never recover.
Your btc would be fine, as long as it’s in cold storage. This fud acts like it kills btc, but it doesn’t.

>>25269719
what's the scenario you see playing out?

look all I need to know is that I'm up 400% this year, and I need another sucker to dump on

lets hit $30k and then dump

tether is outside of US jurisdiction, try better fud glowniggers.

>>25269890
Yes, that’s perfect. Bitfinex can just sell off all the free BTC they’ve printed fake dollars for and they can buy mansions in the Cayman Islands

>having a lawsuit irl rather than in kleros court

lmao, you get what you pay for

anyone who uses USDT is responsible for this mess. I am Trading since 2016 and never had to touch that "Coin".

Why dont u trade in USD/JPY/ EUR ?

>>25269025
"The plaintiffs are five crypto traders who allege that they bought cryptocurrencies at inflated prices and, therefore, incurred monetary losses."

lmao. Not worried.

>>25270080
>Exchanges have to be legitimate in order to get a fiat license; the majority don't bother and settle for using usdt (lower cost).
>In some countries, everytime you trade from/to fiat it triggers a taxable event, the same does not apply using stablecoins
>Imagine you sell your crypto for fiat, withdraw to your bank and deposit again on a second exchange or hold the amount on your account; how long do you think mr goldsmuchstein will keep your account open?

>>25270279
You'd have to be retarded to be down right now with bitcoin at such a pomp.
Regardless. Tether fund scared me a bit. I don't k ow why you couldn't get some gay coin on popular exchanges and then say "hurr durr it's worth x" then immediately swap for bitcoin. Unless crypto to crypto transactions don't drive price?

>>25270281

1) just use a validated Exchange then?
2) All trades are taxable as far as I know. Crypto to Crypto or Crypto to FIAT doe not matter. Sounds to me like Tax-Fraud. However if Crypto to Crypto is TAX free, can you advise which country?
3) I only cash out when I need the money. Alternatively (if you trade high volume) you have to open an business account with your bank.

There is no need to use USDT if you are smart.

>>25270382
that has nothing to do with this tether shit from 2017.

>>25269828
The price will crash hard and would likely take years to recover. BTC under 1000$ would not be unthinkable. Institutions will sell upfront because they will not hold an asset which is then proven in court to be heavy manipulated. Sure they will buy back after a few years when the dust has settled but it will take some time and a lot of regulation. Michael Saylor will be forced to sell because his whole cash roll is in btc AND he has given out new bonds, so he is even leveraged in btc. Greyscale and PayPal are not buying crypto because they want to, they are buying for there customer demand and make bank on fees. They are not buying crypto for themselves and normies with wrak hands will also contribute to the sell pressure.

Can someone provide links as to what Tether lawsuit news they’re talking about? Thx

What is the problem exactly? The market will just switch to using USDC as the main stablecoin.

>>25269382
>m-muh institutions

Sell now or lose everything. It’s that simple. It really is.

https://www.desogames.com/why-i-hate-bitcoin-and-why-tether-will-end-up-killing-it/

imagine being in crypto and not knowing the tether/bitcoin ponzi scam

When?

if tether blackswan happens, XRP will be the only safehaven as its already cratered.

>>25271390
>if one ponzi scheme collapses, this other one will be the safehaven

>>25269462
Do you even know economics? If 20T buckaroes are removed it would bring BTC to atleast $16k. Institutions didnt do jackshit. Its all tether money that has brought bitcoin to another ath.

>>25269025
Would the smartest move be to take a Tether loan and cash it out?

>>25271526
Timing is everything and I doubt you could get an undercollateralized loan in Tether. idk

>>25270494
There's always a narrative to end the bull market. Wouldn't be surprised if this lawsuit starts turning into heavy FUD around 1 year from now.

>>25270494
>Michael Saylor will be forced to sell because his whole cash roll is in btc AND he has given out new bonds, so he is even leveraged in btc
His average is like $22k iirc.
Imagine our negro Arthur hunting Saylor’s stops kek

If this much volume suddenly vaporizes a lot of trading pairs will go poof and many exchanges will lose access to easy stablecoin liquidity. It will take time to rebuild all those lost pairs and replace USDT as a USD equivalent with other stablecoins on many exchanges so it's a systemic risk.

>>25269089
Tether is a cancer on crypto, it better fail sooner rather than later

>>25272067
I've seen tether talked about for years and still I have no clue what the fuck it is

>>25269025
The solution is simple my friend:
>sink all of your tether into a pump and dump
>lose so fucking much that it’s not worth cutting losses
>no more tether problem
It’s worked for me with REEF, I can work for you too.

>>25271125
>original post made by

>>25271804
Nah his average is around 15k unless. He bought the bulk at 10k

>>25269025
everyone holding tether would just buy bitcoin with it until the peg is lost. so it wouldn't hurt bitcoin too much if tether failed, but might be bad for people who are "tethered up"

>>25272134
Its a centralized token pegged to the dollar by pixie dust and collective delusion, it can only end in a bank run but you will never know when it will happen.

>>25269025
Is there a court date coming up for the tether lawsuit?

>>25272337
It started ages ago. Document submission delayed repeatedly, but now due on 15th Jan.

>>25272188

>>25272046
The "institutions" buying BTC don't realise this. Neither does /biz/. They think "even if 20b went to 0, that's only 1/50th of BTCs market cap, so it won't do much.

But we'll probably see around 6k BTC again, which is where Tether began pumping like crazy. Maybe even lower if there's real fear in the market.

With such BTC rising more people try to take part in blockchain but it is still so hard to find a good platform.

>>25269207
>looking for projects that wouldn’t crash if this black swan happens
555-COMON-NOW
Everything will go down if it take place. You still can make big bux out of this with well timed shorts.

>>25272257

who will sell BTC for USDT when there is a risk of USDT being worthless?

>>25269207
Everything will crash. Have you never seen those tether pumps working bitcoin up?

What people dont realize is a bank run o tether will become a bank run on bitcoin and crypto in general, exchanges hold very limited usd compared to the crypto volume that is traded.
It will probably send crypto back 10 years

>>25270706
This

>>25270944
nice brainlet take, surely the biggest stablecoin being sued and BTC being proven to be manipulated by them is no problem at all

>just a small dump, we all switch to another stablecoin and everything goes on!

sounds bullish for dai/mkr.

maybe fed getting nosy into crypto will be the final push into full decentralization. I welcome the inferno

now repeat after me:
FUCK
STEVEN
MNUCHIN.

literally nothing will happen besides debt written in USDT will be "free" to pay off and anyone holding USDT will find it really hard to find anything to buy with any amount of USDTs

TLDR dont hold USDT and dont issue debt in USDT

>>25273058
this is what we get for being a dumbass country electing orange man and his croonies, what did you guys honestly expect to happen

>>25273072
Getting a bitcoin loan on a tether collateral seems like an interesting gamble

>>25271390