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4479410 No.4479410 [Reply] [Original]

for those of you above average pajeet shiller intelligence consider the following.
Tether was created in response to the bitfinex hack.
Tether has been printed far more while bitfinex has lost banking.
Now here is the interesting part. Tether has never released any audits as everyone knows and so I believe they have been insolvent for a long time. However, because the same people who run finex run tether, they have likely been using fees on their exchange to try and make up the difference. However, now with scrutiny coming from wall street and other investors, bitfinex knows there exchange is likely to be exposed as fraudulent soon, or never be used again, so they have to try and become provably solvent in time. Enter the final problem, how can they become solvent with a 1-1 to peg if they don't have the 1-1 and can't make enough money in time.
Here's how:
They fake a hack on tether leading to whatever the difference in solvency and assets on hand to appear to enter circulation, in this case 30 million tethers. They then announce it in an emergency announcement.
2. The public responds with fear as they obviously are going to, theres uncertainty whether these fraudulent coins are about to enter the market, and about whether there will be lasting affects. The crucial part is the USDT to USD trading pair will drop on exchanges that offer it as well as the BTC to USDT will allow for arbitraging for a short period of time with BTC to USD. Here's the strategy, they buy back as many USDT tokens as possible with all of there crypto and usd holdings while this uncertainty event lasts, if they can buy enough up they could theoretically because of the dip become solvent. The trick is they need to have cash on hand on exchanges like gdax and kraken to buy as much USDT and bitcoin as possible in order to make enough money to successfully become solvent again. The real question is if they can make it.

>> No.4479431

I'm pretty sure if usdt trades below usd ever it'll be all over

>> No.4479441

>>4479431
You mean right now, the only asks are 97 cents on kraken, which I think are Bitfinex's own assets.

>> No.4479447

>>4479431
>it's all ogre now

>> No.4479480

>>4479441
it's .98 and that's 0.16% of the volume

>> No.4479783

>>4479410
bump

>> No.4479802

Who are the retards still trading on Bitfinex? They has been news for a week that they are under investigation, and yet you choose to MtGox yourself along with all of us? Transfer to another exchange now you idiots.

>> No.4479806

>>4479431
pretty sure youre some new blood piece of shit

tether has gone below $1 multiple times

>> No.4479834

>>4479802
I want to buy ETP

>> No.4479863

The same ilk and the ones who dismissed Bitfinex'd.
>just a bear that sold for $800
>has no proof
>everything is just fine

>> No.4479999

>>4479834
I bought ETP on there a month a go and got off as fast as I could.
I've never used a shittier exchange. well one, but it was a tiny exchange.

>> No.4480007

>>4479863
>just a bear that sold for $800
Yes. His expert technical analysis got blown the fuck out by institutional investors coming in and hes been raging every single day since then because BTC kept rocketing up and he has been too retarded to buy in at any point since then. He even asked bitfinex for a refund, LMAO!
>has no proof
He doesnt.

>everything is just fine
It is.

If you cant put the first two together and figure out what his motives are, then youre a fucking dumb cunt and should just leave the market entirely.

>> No.4480014

>>4479806
https://coinmarketcap.com/currencies/tether/

>> No.4480043
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4480043

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Please search 「EA development factory of SuperJunior」
We develop and publish EA (automatic trading tool) of FOREX.
http://aqwsed123.blog.jp/

>> No.4480045

>>4480007
is this place trolled by Bitfinex staff? You guys must be scared.
Look, no one gives a fuck, not a single fuck about "bitfinexed". We care about the idea of fraudulent tethers being issued. And Bitfinex, who owns the tether printing press does not let anyone else audit their supply.

They obviously have something to hide, and that's the millions of bitcoins they're effectively stealing using this method.

>> No.4480082

>>4480045
>is this place trolled by Bitfinex staff?
Nope. Just normal anons who are sick of idiots trying to fear monger.

>We care about the idea of fraudulent tethers being issued
Fraudulent how?

>does not let anyone else audit their supply
This is also wrong.

>> No.4480117

So this is gox 2012 all over again? Boy, 20K after dip, here we come. Time to accumulate. Sell normies, I want cheap coins

>> No.4480153

>>4480082
an infinite number of tethers can be created with the click of a button.
do you know how the federal reserve works? it's the same thing, except now its run by a frenchman with a history of scamming.

>> No.4480165

>>4480082
Pajeet makes a token called eRupees. Pajeet claim eRupees are backed by real Rupees, hence eRupees should be traded at the price of 1 Rupee. Pajeet print 10 million eRupees every month. When asked to be audited for his backing of eRupees' value, Pajeet refuses. Pajeet's eRupees are honest magic internet Rupees.

>> No.4480519

Here's why the tether thing is probably bullshit. And I say this as someone that doesn't like tether, doesn't like bitfinex, and doesn't like BTC.

Volume. The amounts of money flowing into crypto absolutely dwarf the amounts coming from tether. It may well be some shit tier small time scam, but it doesn't have anything but a minor impact. It's not even a significant fraction of USD volume letalone *all* volume of all fiat currencies across the world.