/biz/ - Business & Finance

>>25696914
what happens on that day?

Tether gets delisted from exchanges, money moves to other stablecoins or cryptos. Boring

it's gonna be fucked a few days before. this pump is clearly not organic and has never been, only deluded hodl retards believe this is normal. I believe many exchanges are in on this and it will be proven to be the biggest scam in crypto history. Exchanges will be shut down and bitcoin itself might die. Nobody is going to have faith in this shitcoin anymore when they find out that this whole time, some chinks were just printing billions of fake dollars every single day. It's going to be glorious

>>25697445
Tether audit. Basically the day when Tether has to show they have 1 to 1 backing.

until then however, im going to keep riding the pumps. We've still got a few days before shit hits the fan. They wont stop pumping it so just keep buying but get out soon

The company owns billions in crypto, and even if it still wasn't enough, I'm sure Binance and the other CEXs will give them loans. Tether is too big for them to survive a total destruction

>>25697623
imagine clinging to this delusional bear fantasy for so long that you miss the golden bull run. I think this is known as the 'disbelief' phase of the rally

>>25697636
And they will. Tether is backed by some big guys. They will show that they are 1:1 backed because the powers that be have to show that they absolutely aren't pumping the market. It's still prudent to have as little as possible on the off chance that they won't show it, but tooany people are in and are manipulating the market for this to fail.

>>25697636
This is patently untrue

i don't see tether fud on ANY other website than this, so im willing to bet that nothing happens

>>25697734
So you think the court case is just a big larp?

>>25697623
Anon, is there a difference from going from 1k to 10k or going from 10k to 100k? Small mind.

>>25697791
Imagine thinking Twitter normies have a clue about anything

>>25697540
invest in MKR then?
Circle doesnt have a token afaik

>>25697791
tether fud is bullshit

>>25697718
Wasn't there an anon here who showed how Bitfinex was selling off their different
crypto wallets?

>>25697791
Chico posted a video about it but that doesn't mean anything.

What impact will it have on bitcoin?

Dumping court documents:

https://www.courthousenews.com/wp-content/uploads/2020/01/Bitcoin.pdf

https://www.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.154.0.pdf
https://cointelegraph.com/news/ny-attorney-general-expects-documents-within-weeks-in-bitfinex-tether-case

>>25697445
penis inspection

>>25697734
i think you are mentally retarded

>>25697623
Wish I knew you irl so I can laugh and spit on your dumbass on the 16th

>>25697623
Dude, grays ale owns 3% of all bitcoins in existence. There is literally no way bitcoin can fill now. Should tether go down, grays ale will buy up all of their bitcoins and pum it's price in a buying frenzy

>>25696914
2 things can happen:
tether has a shitton of borrowed assets right now, enough to show that they have indeed 1: 1 backing now. They may or may not get a $50 mil fine for the quote where appearently it was not 1: 1 backed at some point in the past

OR
tether doesn't have proof & the suit is basically just "mulibillion dolar corporation is bad and is lying to us, the people" with 0 evidence and Tethers expensive premium laywers completely whipe the floor with shitty government ngmi lawyers. And nothing happens.

damn it feels good to have filled my bags in the last month and not have to be this desperate for a chance to buy in after being priced out

also, check em

>>25696914

Tether is probably going to be printing after the 15th, Causing a massive bulltrap. It's not the immediate price drop people should be concerned about, it's the massive potential for a liquidity freeze in the market. Most people use coinbase to cash out. I guarantee their services go down in the panic. The network could also grind to a crawl under the traffic, which would destroy short term confidence.

Worst case scenario, BTC bottoms at $300

>>25697636
Flat out lie. The 15th is the deadline for some documentation on the Bitfinex Tether loan. It has NOTHING to do with an audit.

Jan 15th is going to be NOTHING and you fags will cling to another memedate like XRP schizos to cope with the fact you have been eternally priced out of the most important asset of the century

>>25698576
no you absolute retard, there's way too much people hoping to buy cheaper bitcoin right now than ever, any dum below $20k will instantly turn into a giant bullwick

>>25697540
>Bitcoin (which moves the entire crypto market) is proven to have broken key resistances due artificially printed USDT
>smart money is going to trust an asset with a fake chart
pea brain

>>25699352
Ok, wtf

I want to fill my fucking bags but I'm so tired of losing money

>>25698591
There are two lawsuits. If on the 15th Paolo looks shady it just accelerates the fact that they are scammers. If they weren't, they wouldn't have fired their fucking auditors and wouldn't be operating under banana republic banking with 0 clearance.

>>25699352
This. Fucking chinks ruined crypto with their fractional reserve printing ponzi scams.

>>25699352
>implying these practices aren't just business as usual in the whole financial system & Wall street
> implying smart money isn't long aware of some 3 year old fud and hasn't calculated it in
>implying it's going to scare them away from the most promising growth market of the next century

also, yeah I'm pretty sure Tether's million dollar shark lawyers are no match for 4 lines of out of context chat messages in a trillion dollar claim

Imagine being this retarded

>>25698044
>https://www.courthousenews.com/wp-content/uploads/2020/01/Bitcoin.pdf
ngl, that does look bad for Paolo and his chink band.

Why can't they just mint tether and then buy bitcoin causing it to pump then unload the bitcoin for USD for more than they minted for? That way it really is backed by USD

>>25699700
Looks terrible

>>25699795
They already do this. Each tether is probably backed by 4 or 5 dollars. Tether fudders are funny people.

>>25699795
They actually do that and causing massive market manipulation with BTC and alt shitcoins, which is why they have a RICO charge filed against them in NY. Remember how Italian mobsters and FIFA got rekt by this? Tether is next and bringing the whole crypto market with it.

>>25700039
>>25699878
>>25699813
>>25699795
>>25699700
>>25699671
SO WTF CAN SOMEONE EXPLAIN, WHAT IS GOING ON WITH TETHER?

IS IT GOING TO CRASH DURING the 15th OR NOT

>>25697718
Gox was big too

>>25696914
>we

tether could disappear and btc would maybe drop by 1000 fiat, jumping right back.

>>25696914
Thanks for the post. Making a collage to post on the 16th so we can all laugh at how retarded and delusional bearcucks are

>>25700132

see
>>25700223

>>25700274
based and make it pilled

>>25700282
>>25700223
>>25700274
What about the chart that shows the majority of money flooding into BTC are from Tether?

>>25700223
If disappears then so will the monster pumps

>>25700334
it's the universal stable coin available on fiat onramps. No surprise there (unless of course you're a delusional tinfoil head wearing nocoin coper)

>>25700132
it could dip anytime between now and the 15th if the fud becomes too overbearing. On or shortly after the 15th there is a possibly that the NYAG will release a damning statement against tether which could really tank the price. I think the most likely outcome for now is the price of tether quickly tanks 5-20% due to fud and then quickly recovers, but the ultimate day of reckoning for tether is coming. Watch some American Greed episodes, the people behind the ponzi scams always do the most damage in the last year when they know the investigations and laswuits are closing in

>>25700039
So, why isn't link affected by the speculation on this?

It seems like it's the only crypto that consistently does well on the macro level due to people becoming aware of its use potential, not due to investment by these chink firms?

>>25700539
>it could dip anytime between now and the 15th if the fud becomes too overbearing. On or shortly after the 15th there is a possibly that the NYAG will release a damning statement against tether which could really tank the price. I think the most likely outcome for now is the price of tether quickly tanks 5-20% due to fud and then quickly recovers, but the ultimate day of reckoning for tether is coming. Watch some American Greed episodes, the people behind the ponzi scams always do the most damage in the last year when they know the investigations and laswuits are closing in

im curious why do you think LINK is unaffected by this?

t. brainlet LINK holder that doesnt understand ze Tether issue right now

>>25698576
300 yea sure i will buy thousdand bitcoins in that case and im not even millionaire.

>reminder that the only "proof" is 6 lines of chat with no explicit mention of actually doing anything illegal in the mids of pages & pages of just evidenceless stories

just to stress it:
>no proof

if anything not only are they never getting convicted, they'll probably win when they countersue for slandering their billion dollar brand

>>25700669
I've been watching it closely.

When everything else does a suspicious and unsustainable pump, it does nothing. When everything else plummets, it really doesn't do much.

It seems to be marching to the tune of its own drum.

Which makes asking "Why?" pertinent. Why aren't the Chinese interested in it? Why does so little tether go through it? Why do whales seem to be completely unshaken?

>>25700539
>So, why isn't link affected by the speculation on this?
It is, Bitfinex's largest ALT holding was LINK and they slowly started dumping it last few days. Check their coldwallet:

https://etherscan.io/address/0x742d35cc6634c0532925a3b844bc454e4438f44e#analytics

>>25700873
based on the 7D chart shown here there was a net loss of about 4m Chainlink withdrawn from Coinbase

https://www.viewbase.com/coin/chainlink

methinks that Staking is likely out soon (as referenced by Sergey's new tweets, the speculation on that one podcast on q1 staking by oglibve or whatever you call it, the recent moves by Linkpool to shift to ERC-20 standard (which will run Arbitrum enabled nodes), plus Arbitrum test net out for Bancor.)

>go to AAVE
>deposit eth for collateralized USDT loan
>take USDT loan, buy whatever with it
>tether crashes to zero
>buy tether for a thousandth the price
>pay back AAVE loan
>take back your ETH

is there a flaw to this idea that I'm not seeing? If tether collapses you get free money. If tether doesn't collapse then just break even.

>>25700873
>>25701033

unfortunately while fundamentals look good for LINK there is still shit happening like this

>>25700954


idk maybe im retarded or so, but what gives? are linkies going to be justed or have their day of vindication?

>>25700181
Getting hacked isn't the same as this situation (if it's gonna happen at all)

>>25700865
>show papers
>nah
>ok you’re not guilty!
You honestly think this is how it works?

>>25701060
I'm guessing they already have a smart contract in place that in case for that happening will automatically switch your debt to some other stable coin

>>25701033
That could be to hide the effect of what they're doing.

>>25701138
>show papers
>okay here
>nooooooo these don't count I want to see this paper but I want to see it in 2017!
>AHA GUILTY!
this is even less how it works. Tether is going to have the papers to show that everything is correct at least now, and their lawyers will spin the chat to be meaningless and out of context and it's going to be one of these situations where everyone knows it's shady but there's no proof so no conviction and noone cares enough to bring it up ever again a day later

>>25701288
How did you learn to predict the future? I am very interested in this skill.

Please teach me.

>>25701541
because expensive law firms are specialized in exactly this kind of thing. Creating paper work to creep just outside of the scope of getting convicted happens all the time in big business. Again the biggest "proof" is the few lines of chat, the rest is basically constructing a 'reasonable' storry which yes that story sounds bad but that's worthless without actual evidence (of which there is none).

The thing anons, is that I'd be expecting to be seeing extreme dumping from whales trying to escape the biggest rugpull in crypto history. We haven't got any more knowledge or autism than they do and I'd be surprised if the old /g bitcoin guys didn't come back occasionally.

There are three possible scenarios to explain the absence of dumping

>Tether will rugpull on Bitcoin. However, it will bounce back so the whales aren't concerned. Remember, these guys either held from 2010. We have to assume that they're rational.

>Collective whale madness. They have all gone into denial and the Tether rugpull will put bitcoin in the ground. The whales aren't selling because they don't believe it.

>Nothingburger. The whales have some insider information that Tether will not rugpull. I would be surprised if there wasn't some orthogonal way for whales to communicate and that would be how they have their insider information and we don't.

tldr: the tether rugpull will probably not kill bitcoin.

>>25698418
mt gox will dump