/biz/ - Business & Finance

Absolutely fucking incredible. This will go down as one of the biggest scams of all time.

I'm not convinced by this conspiracy theory, but it is a bit odd that there hasn't been any major crash since 'china is banning bitcoin' and even that wasn't that major.

what the fuck is 24 million in the crypto world anymore?

how do you know someone didnt buy tether for this?

theres a lot of maybes in your statement

>>4481065
Lies. OldfagBiztard and his BTC marines stopped the dip.

>retards panic sell because of a single ass hurt faggot on twitter who cashed out at 1k
>the dip is bought
huuur

>>4481088
I bought 0.7 BTC today during the dip personally.

>>4481084
I bet you think there's actually 220 billion dollars in crypto too.

>>4481108
start adding all the Fiat in the world + tether. 24million a drop in the ocean.

>>4481084
>> bitfinex
>> print 24 million dollars
>> send to market
>> leverage 5x
>> wash trade the leveraged "USD" 5 times.

Congrats that is $625MM volume you have generated to pump BTC

>>4481132
show me that happened, im actually curious.

>>4481132
>bitfinex leveraging their own funds with their own funds
the fuck am i reading???

>>4481153
>>4481140

Its a big claim but entirely possible.

https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330

Ill look for more sources but it is pretty simple to execute.

As they wont released their audits the burden of proof is on them as they are claim they posses all money linked to tether.

>>4481065
I don't actually see any tethers getting printed in that address?

Freshly minted tethers come up as "Grant Tokens", not "Simple Send".

>>4481202
No dickhead. Answer me.

How is bitfinex going to use their own funds to leverage their own funds?

>>4481203
Okay, so where did all the tethers come from? Care to explain why people would keep tethers in a fucking wallet? They dont go up or down in value. ZERO reason to keep them in wallet. BUY COINS and put COINS in wallets.

>>4481228
Hurr durr
Make fake money
Put on exchange
Leverage against these "USD" cause they fucking own the exchange.
Buy Bitcoin until they are happy.

>>4481228
QE u moron

>>4481228
these people dont even know the definition of leverage. Why bother

>>4481247
so where are they getting the 5x leverage from? their own pockets?
do you even understand what youre saying?

>>4481235
I imagine that these tethers have come from users, who want to get out of Tether, buying BTC with their tethers on Bitfinex.

>>4481277
I'm new and really don't know what it means. please explain

>>4481283
Margin lending. You are the dumbest faggot i have ever met on this board. Go read the article I posted. Maybe you will learn something.

>>4481283
tether actually has $0 value, they just promise to back it by $1 USD (unenforceable) so they can just request more tether whenever they want at bitfinex and leverage however much they want to manipulate the BTC market. they could request $250M worth of tether tomorrow and trade it all against BTC. They have infinite leverage

>>4481322
HOW THE FUCK DOES BITFINEX MARGIN TRADE AGAINST THEIR OWN FUNDS YOU DENSE CUNT.
HOLYYY FUCKING RETARDED DUMB MOTHER FUCKING PIECE OF SHIT GET OFF MY GODDAMN BOARD

>>4481339
>tether actually has $0 value
Just like every other single coin on the market right?

>They have infinite leverage
Holy fuck another fucking brainlet. Get the fuck out and dont come back.

>>4481366
dude you're confused, they aren't "their own funds", they're just peoples funds being held on their exchange, they don't "own" those funds, they're holding them.

So they aren't leveraging against "their own funds", they're leveraging against "THE MARKET" with holdings that happen to be on their own exchange, do you understand this?

>>4481382
>Just like every other single coin on the market right?

I don't mean it the same way people talk about how "no coins have value", I'm saying there's literally nothing at all behind tether other than "the promise" to value it at $1

nothing inherently makes it worth $1 besides exchanges saying they'll honor it at that price, but they don't have to.

>>4481399
>>4481382
>>4481366
>>4481339
>>4481322
>>4481311
>>4481290
Hey NSA, mad you can't stop bitcoin and rely on muh tulips muh tether conspiracy theories to try to undermine the biggest threat to jewish banking?

>>4481403
Get mental help.

>>4481408
dude why are you so mad? can you not even consider the possibility that this is nothing but a house of cards?

>>4481065
The funny thing is they can monitor when the short posititions are adding up and short squeeze them to pump the price up even more.

>>4481405
There's no way of knowing how much of these bullruns are caused by bitfinex. It might be a stupidly small amount, if it was only $30 million.
But there's plenty of reason to keep your money on a more reputable exchange, Bitfinex is sketchy as fuck. and stay away from tether.

>>4481427
>>4481431
Get mental help.

>>4481399
Try and explain how bitfinex is able to inject a total of 625 million into the market in a single day when their usdt/btc pair only sees ~500 million usd a day volume.
Because clearly something is missing here.... You brain dead cunt.

>>4481405
uou paid shill faggot. inb4 muh audit. ill be laughing imagining your face when it turns out theres no backing (how they holding others money when no reputable bank will back em? wells Fargo fucking dumped them, they are blacklisted)

try not to neck yourself when it all becomes clear

>>4481434
https://en.wikipedia.org/wiki/Gaslighting

>>4481444
Get mental help with the NSA paycheck they manage to give you.

>>4481450
>muh tether
>muh bitcoin is tulipmania

get mental help, five-eyes.

>>4481444
>paid fudder callign anyone else a shill
We had days and days of bch shills. They all vanished. Then BAM! here comes thread after thread after fucking thread about muh tether scam.

We arent buying it. Kill yourself pajeet.

>>4481435
They are just rough numbers.
You also realise there are also many other exchanges they can dump their USDT. Which they do.

>>4481472
Get mental help five-eyes and/or NSA shill

>>4481434
>entire point of bitcoin is to get away from federal reserve that can print any amount of USD and can't be audited
>entire point of bitcoin is to attack anyone who questions Bitfinex who can print any amount of Tether and can't be audited

Ive really had it with this board full of idiots. Chasing pump n dumps, defending obvious scammers, conspiracy retardation...
>bitcoin threat to jewish bankers
They could simply buy a majority stake with their printed fiat idiots.
>tether not a scam
Jesus christ how many red flags do you fags need.

>>4481487
>>4481573
>>4481065


Paid for Nsa shilling on /biz/ during price weakness in attempt to further cause crash, failed miserably, NSA now butthurt, floods more
>>4477668
>>4481065
>>4481438
>>4479410
>>4479244
>>4481102
>>4479790
>>4481196

>>4481595
or maybe the flooding is because people realize how fucking sketchy tether is.

seriously what do you have to gain defending bitfinex/tether? you really think the fact that they can request infinite tether is a good thing? how braindead are you. you're the only NSA shill in this thread

>>4481685
Of course goyim it's all organic tether is just like the fed and bitcoin is tulip mania

tin foil hat checking in

>>4481685
no it was blatantly obvious the spamming only started agian when everything recovered, finexed plan didn't work so the nsa hired shills returned to biz

>>4481595
Everyone o this board is an NSA jew except you.

>>4481708
True, want to see my dick since you'rre a faggot?

I am so fucking sick of tether and their scams.
picture related. everyone should look at it

>>4481719
>muh bitcoin is tulipmania
>muh tether is the fed goyim sell all your bitcoin just buy jp morgan

>>4481729
no one is attacking bitcoin you retard. it's the fact that bitfinex is using tether to aritficially inflate the price of btc. were literally on the same side

>>4481729

>>4481746
>muh bitcoin is tulipmania
>muh tether is used to inflate bitcoin goyim it's all artificial

>>4481746
he is defending the current price of bitcoin kek. he would probably shoot you in person if you said its price is heavily propped up by tether.

>>4481719

So... They're trading? Like what you do with your bank, the Tether you get from your dollars, the bitcoin you buy with it, and the USD you get back after you trade well, and so-on?

Those bastards.

>>4481729
u seem extremly triggered. cant u accept that dinosaur coin is manipulated?

>>4481754
>obligatory NSA asshurt begging the bad goy to silence himself

>>4481759
strange because you're the one on the verge of snapping and shooting people once your tether conspiracy horseshit continues to NOT MATTER AND BITOCIN GOES UP MORE nigger

>>4481153
you just lend yourself a whole lot of numbers banks do it all thr time

>>4481761
>muh tether is the fed
>bitcoin is fake because of tether
>tether can't be used for any other coins

Fuck off NSA

>>4481771
kys dude. u are a really delusional fag

>>4481768
if I was really NSA there'd be a black ops death squad en route to your location right now to put you down

>>4481761
he can't accept the possibility that he may have sunk this much money into a market that was this overbought

>>4481760
it would be like if your bank could produce monopoly money at will and use it to loan out to customers, but only accept payment in $USD

its next level, it's not "just trading" and it's much worse than the US Treasury printing money (which is bad as well), because it's unregulated and unrestricted. They can literally produce infinite tether with no oversight and buy BTC with it when BTC is at a lower price, forcing BTC to gain value in the short term (due to their own multi-million dollar buy walls on their exchange) and then re-sell the BTC for a higher value.

It's like they've created their own arbitrage machine where they have the ability to produce infinite of one of the currencies for free. Do you understand now?

>>4481771
dude you have made it clear in this thread that, right or wrong about the tether issue, you are the one who actually needs mental help.

>>4482014
>it would be like if your bank could produce monopoly money at will and use it to loan out to customers, but only accept payment in $USD
This shit is going to destroy crypto. The conventional banking sector learned this lesson a long time ago, that's why we have central banks.

>>4481065
They're the hero we've got but don't deserve

Not all heros wear capes, the same who kept us up during the bcash drama

>>4481905
>>4481984
butthurt NSA begging for the blood of le bad goy

>>4482019
>le you're crazy for noticing this desperate NSA fud

>>4482014
MUH BITCOIN IS VALUELESS ALL OF IT COMES FROM TETHER GOY SELL ALL YOUR BITCOINS!!!!

>>4482007
BITOCIN IS TULIOP MANIA TETHERS ARE THE ONLY REAOSN BITCOIN IS GOING UP GOY SELL YOUR BITCOIN I PROMISE WE ARE ALL REAL ANONYMOUS USERS

>>4482086
>>4482091
>>4482098
What is wrong with you? If BTC plummets you're the type of guy that Im sure would be on suicidewatch.

>>4482091
>>4482086
>>4482091

search help. I hope u lose all ur money. u really deserve it

>>4482073
>They're the hero we've got but don't deserve
They're the hero we've got but doesn't have the reserve

>>4482110
>>4482116
paid money by intelligence agencies for this pathetic FUD and hapless response

lmao

>>4482091
>>4482098
seek therapy

>>4482155
Wow man I agree tether is just like the fed and bitcoin is tulip mania and only goes up because of tether

>>4482053
its exactly what the fed does tho, usd is monopoly money.
this shit will destoy any economy eventually. it just takes a long time to get there

>>4482176
I agree man bitcoin is tulip mania and tether is just like the fed

>>4482014
start with 7 mil
create 7 mil tether
buy 10,000 bitcoin at 700 tether each
sell 10,000 bitcoin at 1000 USD (not tether each)
have 7 million USD, plus 10 million USD

Now if you do that in USD:
have 7 million usd
buy 10,000 bitcoin at 700 USD
sell 10,000 bitcoin at 1000 USD
Have 10 million USD

See any difference?

>>4482202
haha i agree man bitocin is tulip mania and only went up because of tether

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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/

>>4482224
Literally only you have suggested that. You are displaying symptoms of schizophrenia. I'm not joking.

>>4482251
>muh tether is the only reason bitcoin is going up
>i-i'm not trying to imply tether has an effect on the market, I'm just stamping my feet and creating a thread or a dozen threads a day about it to try and convince people about it's massive negative effect!

Get mental help cunt. maybe I'm tired of seeing your weak ass tether bullshit every time bitocin hits a new high, nigge rlover

>>4482251
he is either a committed troll or severely mentally ill

either way i suggest everyone just ignore
>ID: KxpMon8o

>>4482176
USD is backed up by the US Government. If you try to bring it down, you will be the victim of a coup, invasion, or assassination. Crypto is backed up by inertia.

>>4482266
>i-ignore him that'll kmake my hollow conspiracy theories and whiing about bitocin going up be more credible

Get a psychologist. Or suck my dick. Make a choice, cunt

>>4482266
>>4482251
also maybe if you NSA would go buy a 4chan pass you wouldn't be getting talked circles around by a kid with nothing to lose except time blowing you retards out

>m-muh tether is moving the market
>i-i'm not suggesting it's actually effecting it though!!

>>4482263
At this point I'm just going to assume that you are talking to yourself. I know you're not engaging with me.

>>4482334
Why would I talk to a subhuman who works for intelligence agencies? I'm just enjoying you waffling and begging people to give creedence to your bullshit conspiracy theory

>muh tether is moving bitcoin higher
>muh crypto is worthless!!

>>4481108
i bet you're a retard

>>4482281
you've been shilling tether for 6 hours, do you really think your insane ramblings are making any difference

>>4482369
Obviously since you're asshurt enough to continue begging people to lend an ear to you poisonous whispering

>>4481065
>normies flocking to crypto
>bitcoin at ATH
>at the same time a token used to exchange dollars for crypto sees a lot of volume
>it's the jews!

>>4481405
HOLY FUCKING SHIT THE JEW (((BLOCKSTREAM))) TROLLS ARE PUSHING THIS NSA SHIT COS THEY ARE ALL PAEDOPHILES AND IN FACT THE CIA ARE THE ENEMY

>>4482809
hahahahah stay asshurt NSA

>>4482811
I'm not fucking NSA you Jewish cunt. We are onto your tricks though.
>What is D.A.K. 2k16

I swear ppl defending tether and bitfinex are the fucking brainlets who bought into BTC just recently, LMAO. It's better for the whole crypto market to deal with this bullshit ASAP so we won't have to worry about it when BTC will be worth much more than now.

>>4482946
not going to work nsagent your fud is meaningless the market proved it

>>4482867
nsa
>>4482946
nsa intern

>transparency-page still down

kek the sheer deludedness of biz
>t-the fudders are nsa

everything is fud to you guys you only want to live in a world where btc is $1m

>>4481108
There doesn't have to be 220 billion dollars. You look at the trade volume to get an indication of the liquidity. 24 hour trade volue for bitcoin is $4,499,760,000. 24 mil is nothing.

>>4482946
This. If we want to restore confidence in the market, we need to sort this shit out ASAP. If there's a scam, the scammers must be brought to justice. Those who are calling others NSA agents, simply for pointing out the strange events surrounding Tether/Bitfinex, need to fucking stop, because this is making the situation look even worse. If there's a scam going on, the scammers are not getting away with it. They are not gonna play a confido on the entire market.

>>4483075
the market is reactionary though... there's an obvious domino effect. if bitfiniex prints $50M tether and throws up a $50M buy wall it results in more buying, it doesn't matter if $50M is only a fraction of the daily volume or not.

Its like you dipshits expect that for the price to shift up/down in any meaningful way requires like a doubling or halving of the daily volume or something... that's not how it works.

>>4483075
this. can this nsa bullshit stop pls

>>4481108
220 billion is nothing m8. Reminder that crypto is GLOBAL so comparing it to whatever market or Burger company is irrelevant. For instance, Forex has a daily liquidity of approximately 6 trillion and crypto is set to eventually overtake it. Fuck off fudder

>>4481132
It doesn't work like tht brainlet. You can clearly see the market cap for all trading pairs on coinmarketcap and none of them resemble this fantasy scenario

>>4481405
>>4481456
>>4481694
>>4481729
>>4481755
>>4482098
>>4482170
>>4482179
>>4482224
The tulip meme is about bubbles, not fraud.

>fighting NSA tether "tulip mania" on a Norwegian ice-fishing forum this hard