/biz/ - Business & Finance

>>25519343
If I have a billion units of a $0.00 asset, I have zero dollars.

>>25519378

It’s not going to just be $0, it will capitulate and fall leaving bag holders with no way to influence the market. BTC will be just fine.

>>25519343
Double fud

Wouldn't this imply a boom for the crypto market?

Reminder that all stablecoins will be made illegal anyway. It's literally just a tax evasion token and the eternal government jew wants its taxes. That is the end all be all of stablecoin. If anything I'd want to flee my money into btc, not for some reason hoard stable coins during the golden bull. Imagine hoarding stablecoin while the SEC has loosed its hounds. Imagine holding fiat when the printer is running overclocked daily.

Tether is used to create buy pressure for btc. Tether dissapears so does the buying pressure, price go down

COPE MORE

>>25519343
Just look at the fucking wikipedia page. Literally says "Controversial currency".

Whale mone will flow directly to USDC, the US government approved cash backed coin.

The Fed wants it backed by their own worthless dollars, instead of Tether which is backed by vapor.

>>25519585
Not USDC, which will be the official US digital currency in due time. You really have to look at it from a geopolitical standpoint.

seething nocoiner cope kek

>>25519647
This. USDC will be untouched, all otherstable coins are in danger of immediate extinction if tether falls. Not sure about DAI, but most others certainly.

>>25519593
This. Not enough people understand this mechanic. Tether props up the price of BTC so people don't dump it to zero in a down cycle. Without USDT, there isn't enough liquidity

Also USDC, Paxos and the rest - none of those have any real backing or get audited by a third party. Basically the exchanges are going brrrrrr too.

>>25519467
>BTC will be just fine
at $800

>>25519688
I'm assuming PAX, USDC and GUSD will all be fine. They all seem to be putting forth effort to be compliant. The real question is what happens to DAI and Maker. They may hate tether now, but DAI is out of their control and they hate that. Wonder what kind of tricks they will pull to try to stop it's rise.

>>25519343
>tether collapses
>I sue them and exchange for exact amount and emotional damages
>profit

>>25520570
We know this won't happen because everyone here would literally give up a testicle to buy Bitcoin at 800. If the dollar peg on tether breaks you can be damn sure you'll be watching Bitcoin soar to 100k while it happens

>>25519343
Wow never thought of it like that just sold

>>25520915
Youre the only person Ive ever seen that thinks tether shitting the bed would cause bitcoin to skyrocket. I dont know if I should call you a faggot or a genius

It'll flow into USDC dumbass, the only other real stablecoin

>>25519954
>Tether props up the price of BTC
imagine being this dumb

tether is just a shady OTC desk
>asian wants 1k btc
>tether associate goes, "ayy i can get you those, just transfer $30mil into this bank account"
>prints 30mil USDT
>buys 1k btc and sends to whale

shady money laundering, but not fake.

Are tether posters basically just people who placed buy orders at 15k that never filled when bitcoin went above 20k?

If tether has gold reserves and the gold price increases they can print more tether. Any tether printing is simply as a result of gold price increases

checkmate tether fudders

>>25520249
>Also USDC, Paxos and the rest - none of those have any real backing
DYOR. USDC is backed by hard cash

All the US government wants is for their brr paper to back stablecoins

>>25519526
yes. btc will spike for sure.
but then the risk is then people will panic and cash out for real USD / liquidity crisis and a bear market begins. there's a real chance saylor will get dumped on, every btc buyer has to get dumped on.

As someone bullish on USDC I'm pretty certain Tether chinks will find a way to show evidence of backing, they had 2 years to "mint" (ie brr fake money) so they could actually exchange (wash) that through bitcoin purchases and fiat cash purchases in exchange for bitcoin. It's a huge ponzi that they'll pull off.

The date they're supposed to present evidence to the NY judge is january 15th. Expect a major fucking crash within 10 days. For us traders this will be an opportunity to scoop up tons of cheapies.

what a world it would be if hyperwave cucks are proven right, microstrategy goes bankrupt and i get to buy another great dip like I did the March dip. it's inconceivable now but would be magic if 1k is revisited.

>>25519343
tether fud is actually true, but use this information to your favor. Surf the bull run, sell everything eoy

All the no-fudders conveniently ignore that If Tether is unbacked then Tether based exchanges will collapse. It won’t matter what BTC is trading at when your BTC, Tether and alt coins are all trapped in an insolvent exchange. And then, at best, you are just another unsecured creditor standing in line waiting for the bankruptcy court to distribute pennies on the dollar from the implodes “assets” of the exchange. More likely there will be no orderly liquidation ... these scammers will just disappear and these bogus entities (and their customers) left with zippo.

Move your BTC and alts off of Tether exchanges. Better yet, sell and get your cash out.

If there only was one Cryptocurrency that cannot be censored that uses no reserver or is no security.

>>25519343
>sell their usdt for other crypto currency
and what will the sellers get from this ?

2017 called, they want their fud back

>>25522372
>Move your BTC and alts off of Tether exchanges. Better yet, sell and get your cash out.
This. Watch out keeping your crypto in exchanges. Binance is the largest exchange by volume and doesn't even have a fucking license. One lawsuit and their whole chink ponzi collapses, same as tether.

Crypto will be regulated heavy, kyc blockchains, asset-backed stablecoins, and licensed exchanges will only be allowed to operate. It won't be a wild west anymore.

The best way to profet is to know when tether will collapse everything, cash out in fiat, wait for the death bleed spiral and buy everything you can, then move to a cold wallet.

>>25521496
How bout I toss your salad while you call me a genius

> what is market confidence


conclusive proof that a significant portion of btc liquidity is from fake fairy dust money would cause a loss of confidence in the whole crypto space that would take years to recover from

>>25522688
Youre gonna make me gO0M

>>25522372
This includes uniswap too. It’ll make headlines. Again the US doesn’t give a fuck about crypto prices or the technology this is about buttfucking China

you fucking pajet want exchange usdt for bitcoins which will be worth 0usdt when goverment will ban this piece of shit scam stable coin? great move idiot.

>>25522760
IM gOoooOOOOooo00000MmmmmiiiiiiiiiiIIINNNNG

Reminder that Tether is Chink-owned, their headquarters are in bumfuck Hong Kong. Binance is also Chink owned.

>>25520570
>at $800
BUY THE DIP

>>25519343
>>25519467
Too much arbitrage in the DeFi market. Even if the Tether company literally exploded tomorrow, Tether wouldn't just go to 0. People have Tether loans and Tether stakes. People paying back Tether loans would need to buy Tether from the free market and it's also floating against other stable coins. It would go down but not Insta 0. Think more like a slow dump.
DeFi is incredibly resilient and this is the reason why they create so many stable coins

>>25519585
How you gonna DAI and sUSD?

>>25522796
Uniswap is not an exchange lol

>>25521679
It's a store credit only scam from Bitfinex that proved to be so viable that it grew into what you see today. Best case is it's floating on cartel and China laundry money. Worst case it's insolvent.

>>25522372
I don't see why Bitcoin and alts would be trapped... those people can just withdraw Why would an exchange freeze those coins? Bitcoin would be withdrawn and the people stuck in tether would have less Bitcoin on the order book to buy while they frantically try to unload their worthless tether to whoever would take it. I think you would see Bitcoin sell at an insane price premium until the exchange shuts down trading

>>25522372
fucking nocoiner finally admit that u missed out on the greatest bull run of mankind.
They're not suing Tether regarding their reserves, they're suing for documents related to a 2019 incident with one of their banking partners, you havn't even read the lawsuite.
Look at their website, they admitted a long time ago that their spaghetti currency isn't backed 1:1 to the us dollar, this fud is already priced in since 2017.
Please leave and neck yourselfe on the way out.

>>25522070
how new you are. bitcoin rise with bad news for tether and bitfinex, not the other way. expect to hit 40k around 15th

>>25522641
>kyc blockchain
sir, xrp general is that way

>>25522927
this

>>25519585
How is it a tax evasion token? Serious question. If you're in the US, everything is taxable, even selling for stable coins. Are you actually retarded or are you baiting?

>>25520915
when/if people realize their assed was artificially pumped by a fraud they will dump BTC for real USD asap

>>25523359
>how new you are. bitcoin rise with bad news for tether and bitfinex
Lol I hope no one takes financial advice from this drooling wojak

>>25523298
I missed nothing ... huge gains in 2017 and 2020. Dumped out both times. Not at the top, but way way above my entries.

This Tether shit is happening. Don’t blame others for your being the poz in the ponzi. Get blown out ... nobody cares. I will be back in bigly when the dust settles.

>>25523602
you are a brainlet and clearly haven't followed the case, every time NYAG orders documentation or meets with ifinex, bitcoin rises

>>25523298
This is false though. Here is the lawsuit:
https://www.courtlistener.com/docket/16298999/110/in-re-tether-and-bitfinex-crypto-asset-litigation/

> Defendants have executed a sophisticated scheme to fraudulently inflate the price
of cryptocommodities, a class of crypto-assets that includes bitcoin. Defendants’ scheme was
wildly effective, causing the price of these cryptocommodities to spike far above their legitimate value in the largest bubble in human history, and ultimately resulting in billions of dollars of damage to innocent cryptocommodity purchasers.

>>25523789
every time they delay
which they can't anymore

>>25523491
it's way easier to just claim that you didn't cash out to stable coins using dex

>>25519343
No one will trade usdt anymore, exchanges will delist it as soon as possible. Retards having liquidity on uniswap will be left holding the bag

Wont this Tether thing crash all crypto and not just BTC? Should you sell everything?

>>25523881
>>25523881
its not going to end the 15th you know, this shit takes time and they are going to use fake tethers the longer they can, the corn is going to 100k. Check the charts, we are in the 2013 fractal with Mt Gox

>>25523890
And what happens when they track your transactions from your wallet?

>>25523919
> Having liquidity on Uniswap
What if I have used Uniswap to send coins to my Coinbase Wallet, will I be left holding the bag then or will I be OK?

>>25524053
never said theyre not gonna turn on the printers again, just saying it will bleed like hell eventually

>>25519378
But you have a BILLION zero dollars, anon

>>25519343
Do you retards understand that you can redeem tether?
https://twitter.com/paoloardoino/status/1346101912677048320

>>25524930
Lets see you try to redeem 200 mil

>>25523870
this is not what the 15th dec. is about
https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=2AsYgvjJAsSdalpfkInbHA==

>>25523870
Jesus christ it's just another bagholder lawsuit. These happen literally every day

>>25519585
My sweet summer child
https://www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-2.html

The US basically just announced they're officially adopting stablecoins. Don't get left behind.

>>25525231
this.

Fuck it
I can't take this Tether fud anymore
Just cashed out all of my random shitcoins that I had on Binance, it's all back on my bank account. The only crypto I own now is a small amount of suicide-stack BTC and all my LINK on my personal wallet
Won't consider going back in until at least mid-February
You faggots better be right. I'd better see nothing but pink wojaks on this fucking board this month

>>25525391
>always do the opposite of what /biz/ tells you to do
you failed again anon, see you @ 50k when you buy my bags

>>25519343
Why not just go into USDC/TUSD/BUSD/DAI though? How would things change if everyone just went into busd for example

>>25519343
>Everyone holding tether will dump it... wait for it... for Bitcoin retards
who the fuck is going to sell their btc for useless tether? the bots will be shut down ASAP the panic starts

>>25521496
Nah, dude he's right
All of that value would just go elsewhere but anyone caught holding tether would be fucked
Never touched it and have no reason to care about tether sinking ship either, a volitile market is the best condition for mars mission spikes

>>25519647
>>25519726
>"This ponzi will definitely work!"

>>25525472
This is the only sentiment holding up Bitcoin price, or any other shitcoin.

>>25525472
>selling at 50k
ngmi

>>25525391
>he fell for it

So many DeFi projects have slated start on the 15th, you're going to see a lot of Wojaks, but they're gonna be green

>>25522070
>bullish
>on USDC
???
its 1$ and will stay 1$ retard, its not gonna be 2$ its a fucking dollar stablecoin

>>25521925
In an actual gold standard with a non braindead population, the gold price wouldn't go up, prices of goods would go down. If a politician started printing gold certificates to fix the "problem", they would get hanged.

>>25522160
hyperwave is broken when you break last ath

>>25520915
>people will want o sell their testicle for this coin that was backed by another scam coin