/biz/ - Business & Finance

>>25798133
It won't. These tether FUDs are trying to scam you out of your coins

>>25798133
it's not the fact that it's not backed, it's the fact that they might get shut down and then stop issuing it. also aside from the steep drop in trade volume there will be people freaking out just because of the panic

>>25798194
Not going to happen

>>25798232
i think the 15th is a nothingburger, but this is the rationale behind it. just explaining it for OP who asked.

Because all the BTC that tether has been pumping will be repossessed and market sold to fill SEC coffers.

>>25798133
It's probably nothingburgers but you never know. Tether is shady and that's a fact.

I think it might go like this:
>People buy BTC with Tether
>Seller has Tether (now worthless)
>Nobody wants to sell anything for Tether
>Cannot trade Tether for BTC or alts
>Tether holder is ngmi
>People who hodl get scared and start market selling
>High price buy orders get filled quickly and so downwind spiral gets worse and worse

Still probably nothing is going to happen except a little dump and then pump

>>25798133
I mean there are other stable coins other there anon. DIA for one.

Because if tether can print infinite tether and buy up all bitcoin, then sell idiots back their bitcoin for actual money, do you see how that is not a fair thing?
Do you see the weakness in the house of cards?

>>25798194
why would they be shut down though, they are in hongkong, NYAG has no jurisdiction

>>25799504
I think that they don't even need to shut them down.

Just think for a moment - if they can absolutely prove that Tether indeed bought BTC and other coins for free, without being backed by anything, what will people who bought with real money think and feel.

>>25800242
We're really fucked if that happens. I don't even want to think this could be real. But knowing 2021 is basically pic related then yeah.

Realistically what's going to happen is a storm of

-market takes a dump because btc took a dump
-btc takes a dump because market took a dump
-negative feedback cycle causes panic among retards
-fear of zognald's retarded chinese EO because he'd rather bitch about china than win elections causes a further dumperino by panicked idiots/chinks
-Tether FUD will be picked up by brainlets to rationalize the dump and therefore will dump harder
-back to 30k because of people being really really dumb

And if tether is actually garbage and not just fud then it goes back to 20k.

>>25800740
>20k
I see you added 5 extra decimal places there