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/biz/ - Business & Finance

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28813600 No.28813600 [Reply] [Original]

DYOR:
>https://www.bloomberg.com/news/articles/2018-11-20/bitcoin-rigging-criminal-probe-is-said-to-focus-on-tie-to-tether
>https://www.realvision.com/shows/the-interview-crypto/videos/coindesk-are-crypto-markets-overheated?source_topic=crypto
Look at 36:00
>https://www.youtube.com/watch?v=uVnImlRnzKE&t=418s [Embed]
>https://www.youtube.com/watch?v=b_Uq5QCHcU0&t=1547s [Embed]
>https://youtu.be/rQ3nQ8-KY28?t=296 [Embed]
>https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=npvulMdOYzFDYIAomW_PLUS_elw==&display=all&courtType=New%20York%20County%20Supreme%20Court&resultsPageNum=1
-Lied about loaning out $850M of Tethers -reserve
-Lied about Bitfinex/Tether not being owned by same entity
-Lied about that they were going to do audits

"Mueeeh $32B is nothing, it doesn't matter"
>https://cryptocurrencyfacts.com/understanding-spread-slippage-and-liquidity-in-crypto-trading/
"The US don't have the power to shut it down"
>https://en.wikipedia.org/wiki/Liberty_Reserve

Chart highlighting artificial price movements during fall 2018 (red area):
>https://imgur.com/a/EiSzAbQ
>https://twitter.com/RaoulGMI/status/1061641743714664449

To all Tether Denialist; Yes, I have a bias. I have sold half my crypto stack and will not reinvest until Tether is gone.
But DYOR, I love crypto but want this fucking shit gone from the ecosystem.
Not saying anybody should sell precious bitcorn, but just be aware of this highly likely illegal setup and the consequences it could have if/when seized.

>> No.28813701
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28813701

>>28813600

>> No.28813814

>>28813600
Starting this shit again? ffs

>> No.28813914
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28813914

>>28813600
>FUD

>> No.28814312

>>28813600
Next time post that cap from PDF, where they say something about kicking a can and BTC going below $1k if they don't act.

>> No.28815167
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28815167

>>28814312

>> No.28815444

>>28815167
Nice. And do you know about those 325,000 ETHs?

>> No.28816565

>>28813600
I'm pretty much all-in on BTC, although anyone who isn't at least somewhat concerned about Tether is ignorant or in denial.

60% of money flow into BTC is through USDT. It obviously won't destroy Bitcoin if Tether completely disappears, but from an investment perspective it's incredibly risky to hold an asset that has its value linked to a suspicious company.

Tether is under investigation, has already stated they only hold 75% in reserves, and some of that 75% is held in BTC, which would have a cascading effect if BTC loses value.

>> No.28817544

>>28816565
I'm a BTC bull but Tether is going to collapse much worse than people think it is, and the resulting regulation will probably ruin crypto for years.

60% of BTC is Tether volume, but there's also Tether inflation - buying BTC with USDT, trading it for LTC on the BTC-LTC pair, trading LTC for ETH, ETH for LINK, LINK for x; almost all market volume is Tether, not just the USDT-coin pair, because the purchased coins are used to buy other coins and pump the market caps of all crypto.

That 75% reserve backing was when Tether had 2b USDT. They now have 32b USDT and I seriously doubt they even have that original 1.5b backing it considering the majority were overnight loans from associated companies, which is why the bank they own was very specific about "you had x amount at close of business on x date" rather than a real transaction history or bank statement.