/biz/ - Business & Finance

>>4638164
hehe, we arent allowed to sell our tethers anymore guys, oh no, that means we also cant cash out any of our large customers even if we previously had private contracts too. so sorry, we really wanted to cash you guys out, darn it

Uh oh spaghetti-o's. Does this mean my magic internet money won't make me rich after all.

MOMMY NOO. I WANNA BE RICH NOWWW MOMMYY

Short btc

>>4638194
Should have been quite obvious they are trying to rush things this month. Normies are about to get so fucking rekt.

Its funny how they announced this the moment BTC hit 10k.

>>4638187
Does anyone actually convert tether to usd? That's not the point of it.

>For customers with bank accounts in Taiwan, we are currently experiencing no difficulties or delays in funds transfers in USD, with deposits and withdrawals functioning as expected.

Withdraw every fucking satoshi from any USDT exchange or get goxxed. Up to (you).

>>4638309
this.

>>4638251
Tether is a non-issue. People freaking out about it have no concept of how financial institutions operate on fractional reserves. Tether is just a transactional tool, it's not insurance

This whole time weve been building a boat on some companies dock, and now theyve finally had it so its time for us to use the boat and leave.

USD is cutting off connections to BTC in attempt to save itself.

>>4638370
>fractional reserves
>bitcoins
So what you're saying is they don't have enough bitcoins for everyone to cash out their bitfinex accounts to BTC and get paid? Because that's exactly what happened to Mt. Gox.

>>4638164
Idea is good.
Execution= terrible

If crypto is going to last. Legitimacy must be added. Usd is pretty legit yo

should i withdraw my 27 btc from finex? was only leaving them there for ez monero conversion

>>4638309
Kek most people dont believe the Tether fraud is real yet. This is going to be fucking fun. So many normies are going to kill themselves.

also wanted to do some Qash trading on BFX once it hits the exchange on Dec 1st, guess it'd be safer not to? fuck me.

>>4638523
>Qash trading on BFX on Dec 1st
Not worth it imo. So many warnings signs that Tether is about to implode.

>>4638570

are they really that close to imploding, that they can't last a week? looks like the entire crypto market is gonna die soon, RIP all my gainz

>>4638370
The only reason fractional banking is permitted in our fiat currency is because of the presumption that inflation would be very bad for the central banks, so it is presumed that it is in their best interest not to print any more money than necessary. This of course chips away at actual savings, one of the reasons we bought into crypto in the first place. The system screws savers.

Tether has no such balance within the system. There is no consequence to printing Tethers for themselves, economically. (Legally there god damned well should be.). Print as much as they want, use it as much as they like. BitCoin dipping? Create artificial margin longs, wipe the sell orders out, etc.

What will prove Tether's fraud, is the moment a whole bunch of wealthy fools go to cash out. Like a bank run, except insulated from financial consequence.

>>4638618
>a week
Errr not that close really. Well, i dont think they will exit scam in a fucking week lmao. But you should be worried about how they are rushing things with Tether. Look at how many tethers were issued this month (it doubled the total supply).

They are no longer trying to be subtle and that should worry you. The only time scammers are like that are when they are about to pull the plug.

>>4638672
>>4638164

what the fuck man, that announcement was made a week ago+ now that I checked. fearmongering? why do this to your biz friends.

>>4638692
>that announcement was made a week ago+
>we promise the tether supply wont increase
>prints a shitton of tether

And how many tethers did they produce after that announcement? Go on faggot, answer me hahahahahaahahahahahaha. Fucking brainlets. Go on how the fuck can you rationalize this?

Also i didnt check when it was release, it was on their fucking site there was no date with the annoucnement.

How susceptible do you all think Bittrex is to this? I don't have a lot of money on there (about $600) but I haven't gone through their verification bullshit yet and I can't withdraw.

WHAT ABOUT MY ETH?

How are you faggots still not using bitshares or bitUSD? You know Larimer built it as the true answer to this bullshit fractional reserve manipulation.

>>4638164
Well played OP. You gave the link but literally no one read it. They deserved it.

>>4638164
>https://tether.to/announcement/

''First they ignore you, then they laugh at you, then they fight you.''

HAHA oh boy. This is going to be top gold.

FUCKING DIIIIIEEEEE BTC

Guys look at monero, it's skyrocketing for a reason, lots of people are preparing for the worst.

>>4639234
>skyrocketing

>2% increase

I think you don't know what that word means

hahahahahaahhaha bitcoin permabulls absolutely ignoring this fucking thread

WOW. I thought you guys were crazy talking about this tether conspiracy but this whole thing is a fucking scam!

>>4639354
The evidence just starts piling up, when you start reading, listening.

This isn't what anybody wants. But it is happening nonetheless.

Why the fuck should I care about tether? I will just cash out to USD.

USDT is nice for convenience but who the fuck holds USDT for more than a couple days?

>>4639299
>was <100$ a month ago

>Taiwan

>>4639428

BTC was $5100 a month ago, now it's $10200.
XMR was $100 a month ago, now it's $200.

See the connection faggit?

>>4638958

>>4639417
Lmao, as if BTC's price wont take a significant hit from Tether imploding.

>>4639503
>>4639428
>>4639299
>>4639234

>>4639428
>>4639299
>>4639234
>>4639503

>>4638493
no.

>>4639407
Agree, everyone who doesnt believe the fraud at this point is either extremely stupid or willfully ignorant.

>>4638570
unironically this whole need for tether situation is exactly what qash is going to solve. couldnt have come at a better time, platform release q2 2018 doe, 7 month hodl boyz

>>4639529

Yup. When's the audit supposed to be wrapped up? People are going to be shitting their pants soon IMO

>>4638309
Binance too?

I'm not holding any Tether, however I use Bittrex for my exchanges. Will a Tether scandal directly effect me negatively in any way besides Tether exchanged coins dropping as a consequence?

>>4640216
when they bust tether, forget about it. it's gonna be the crashening™

>>4640296
I don't hold BTC either.

>>4640216
>he thinks any of the tether-using exchanges will survive

Non-fiat exchanges use tether because they're shady as fuck, and they'll exit as soon as they see any loss. And they lose nothing, they never had to be insured for shit, or regulated, or just about anything besides a promise.

>>4638164
>>4640649
you guys are retards.

>omg guise tether is not real money everyone cash out this will cause bitcoin to crash
bitcoin rises as people cash out of tether into btc instead.
>omg guys the exchanges using tether will die so send all money off of these exchanges
bitcoin price rises further as now everyone is holding not selling

you bcc bcash boys are idiots.

>>4639529
As if it won't rocket from tether imploding
If people have money in tether, and tether is dying, they are going to be climbing over the top of each other to get it back into btc

You know how markets work, right?

>>4641033
let me just add if you read that link it basically says

>As our customers and others in the blockchain space may have recently experienced, Tether is currently expecting continued delays in processing international wires to and from tether.to users. Blockchain-based withdrawals and deposits are in no way affected. The Tether Reserve remains in surplus of the 1:1 backing of USDT and has more than the necessary currency on deposit to redeem all existing tethers.

and

>back in april taiwanese banks put a hold on transfers through their bank to us, this may mean not as much tether is generated as our original roadmap specified.

literally bcash boys in here like "oh man its bad when they release too much tether, AND bad when they dont release enough!"