/biz/ - Business & Finance

rip Tether

>>52537366
yup this is the big one. jews are doing their 'don't come into the office tomorrow' rounds.

...gave millions of dollars to DREAM WORLD.

>>52537317
This cock suckers tweet is crashing the market

>>52537317
He is talking about patio11. That guy has been doomsdaying Tether for literal years and hasn't been right yet.

>>52537366
The prophecies of old are true... my god.

>>52537465
I kinda like patio11 in a way. He seems like a pure autist in terms of motivation. I imagine he just genuinely thinks he's right. He's not angry and bitter like most of that little group of fudsters

>>52537317
Thank me later anon.

>>52537317
what a fucking retard

>YCOMBINATOOOOOR

>>52537317
oh no, and everything was going so well.

Was nice knowing y'all gentelman

>>52537317
No shit. people think FTX is the risk. Wait till Grayscale tips over.

>>52538128
Grayscale is fine
This guy is late to the party or just trying to get some extra followers

>sam is rugging and fleeing to the bahamas who now have all the e-gold and are basically a pirate state of blacks and jews and floridians off the coast of the USA
>"bitcoin is about to get FUCKED"
Oh, you don't say.

>>52537317
What sort of systemic risk would be knowable in advance? It can only be regulatory, right?

>I will now post that someone told me shit is fucked but I'll not say what or who
Fucking nothingburger

>>52537317
>Ycombinator

Literally absolutely without a shred of doubt FUCKING WHO?

>>52538235
The only thing substantial enough to cause systemic risk at this point is Tether's implosion.

>>52538235
Tether being insolvent would be one. Just drum up a bank run and see them scramble to come up with the money.

>>52537317
Wht would be a systemic risk for crypto

they're trying to keep us from buying the bottom

>>52537317
>co founder of Literally Who?
Ftfy

>>52537465
You have to be joking here.
If he's actually talking about a patio11 this is fucking hilarious.
I literally had him reply to me on hn shitting on btc in 2013.
The guy knows nothing about crypto.
PG wouldn't be stupid enough to make this post based off some patio11 shitpost, would he?
btw all these people suck in various ways and hn is a fucking joke

>>52537317
Ok fine.......time to sell at a loss...........AGAIN

>>52538274
>>52538323
I mean they're super cringe, but
>literally who
...really?
Zoomers?

>>52537317
holy shit. There's a systemic risk on the blockchain. DO NOT REDEEM, SIRS

You can always spot a midwit pseud trying to sound smarter than they actually are when they use jargon incorrectly like in that tweet. ‘System risk’ has a specific meaning in finance that makes no sense in the context of that statement. He just heard that phrase and thought he’d sound cool but is using the individual words literally instead of the technical meaning when they are combined like that.

>>52538326
those days on hn talked me out of buying bitcoin. fuck patio11

>>52537317
What would actually occur in a Tether worst case scenario? Every exchange could simultaneously halt all USDT pairs, instantly wiping out the effective value of tether to zero. On the other hand if the collapse was prolonged, there might be enough time for people to convert their Tether to crypto. This would result in skyrocketing prices on the USDT pairs and plummeting prices on other pairs like USDC

>>52537317
He obviously means the tether fraud is getting exposed

BTC = $50 at best you HAVE been warned

>>52538486
They wouldn't halt it at first. It would lose its dollar peg. People's savings in Tether would lose 5%. Then 10%. Then 20%. Then 50%. Then 75%. Etc. A mad rush would occur with people trying to dump it. From there, who knows what would happen.

>>52537366
Slowly at first, then all at once,

>>52538274
If you don’t know what YC is you need to go back to buying dog coins
>t. YC founder whose company failed miserably

>>52537317
ALL YOU FAGGOTS NEEDED TO DO WAS BUY BITCOIN AND HOLD YOUR KEYS

BUT NOOOOOOOOOOOO

YOU WANTED LINK
YOU WANTED DOGE
YOU ASKED FOR THIS

FUCK YOU /BIZ/ I WILL NEVER FORGIB.

>>52538346
I don't listen to irrelevant twitterfags. No more relevant than that copeshit co-founder of DOGE who sold all his coins and has been a twatter copefag ever since

>>52538274

Something has to actually break in the system for it to collapse

All this fud over stable coins and jewish ponzi is really meaningless.

>>52538802
Haha

>>52538492
I would actually buy 8,000 btc if this happened and I could manage to deposit my money fast enough

didnt they fund worldcoin lmao

I despise HN.

i see crippling regulations (can;t cash out) as bigger fud than tether

Thread full of zoomers who don't know who Paul Graham is, this place really has gone to shit

>>52538973
A grifter.

>>52538973
>omg le reddit investor Paul Graham says something big is brewing but he doesn't know what it is

>>52538492
BTC was at 20K before Tether was even relevant

>>52539037
the entire 2017 pump was correlated with 100s of millions of tether prints

>>52538295
>>52538289
$60 billion imploding doesn't seem that much

>systemic
*systematic
Systemic is a made up word by women who chopped their vaginas off in thr name of feminism and niggers.

>>52538140
Grayscale is fine
Assets are fine

>>52539073
>Systemic is a made up word by women who chopped their vaginas off in thr name of feminism and niggers.

>thing happens
>tourists flood /biz/
>they get bored with the thing
>they stare at tether for a week waiting for it to collapse
WE ARE NOW HERE
>they leave

>>52539073

>>52539073
big brain take

>>52539073
based

>>52539073
go back to pol you stupid mongoloid

>>52539073
It is a gay sounding word that means nothing really. A CEX just collapsed, is that systemic or not? Who knows the word is too vague to say really

>>52539194
>>52539203
Systematic = done carefully in compliance with a set or rules or methods
Systemic = relating to an entrenched feature that affects an entire system

>>52539294
thanks this is completely new information to me which i definitely did not already know

>>52539253
>A CEX just collapsed, is that systemic or not?
It's "systemic" if it affects the entire system. The vagueness is only in which 'system'. Just the crypto ecosystem... or the global financial system?

>>52539332
No problem, happy to help.

>>52538198
(((sam))) doesn't have a single bitcoin

>>52538274
Go back you fucking zoomer redditor

hello im the CEO of W combinator

don't come to bitcoin market tomorrow

Best regards,
Cucky O'connell

>>52538752
your bitcoins were worthless from the start. you’re poor because your greed made you retarded.

>>52538785
>>52538323
Absolutely fucking go back and take the pajeets with you

>>52539001
His company helped start Coinbase and stripe, zoom zoom

>>52539491
so he is a fed
opinion discarded

>>52539471
personally, i blame your rabbi

>>52539564
is that sam in the middle?

>>52538614
>t. YC founder whose company failed miserably
At least you got to talk to Paul and hopefully learned lots. Best wishes on your future endeavors.
t. TechStars reject

>>52539073
Systematic means "done according to a system"
>A systematic audit
Systemic means "relating to a system"
>As credit dried up, there was a systemic collapse

>>52537903
>>52538274
>>52538384
>>52538785
>>52539001
>>52539073
>>52539451
>>52539564
70 replies and not one of you autists realises that he’s talking about Brian Armstrong? Ngmi

>>52539727
>Implying he doesn't know many plausible candidates
Vague warnings of doom are useless though, when they're accurate they're too vague and when they're specific they're wrong.

>>52538032
kek

>>52538128
And microstrategy. Saylor just started to sell...

>>52539491
Lol poor guy. Coinbase might be the first stock in my poorfolio that actually gets delisted next year

fud is at an all time high. im buying again

>>52539831
Coinbase will be the last exchange standing, unless it gets regulated out of existence

>>52539763
>”A person I have known for more than **10 years**”
>Coinbase joins YC in 2012
>Prior to that, Brian Armstrong worked at Airbnb. Another YC company
Ngmi

>>52539354
>It's "systemic" if it affects the entire system
Yeah that's the problem, everything affects everything doesn't it. Does a CEX collapsing affect the entire system? Well yeah, everything dumped 20% just now, if I was the system I'd say I just got affected in a pretty major way. So I guess that qualifies for a systemic collapse doesn't it.

>>52537317
Tether, Coinbase, something else?

>>52539872
He's 58. "More than 10 years ago" is 83% of his life. You're making the mistake of looking to confirm what you're focusing on instead of thinking about how many other options there are.

>>52539955
The gubment selling all the btc they seized from that chink who hacked silkroad? 3.3B worth of bitcorn, can be brutal while the liquidity is as low as it is rn.

>>52539977
>doomposting on twitter at 58
what a fucking loser

>>52539904
For some systems. For others, effects may stay local. The collapse of the Mayan civilization had no systemic effects on the global economy because pre-contact there was no connection. Obviously finance and crypto are highly interconnected and most things have systemic consequences, but for example one day trader gambling himself to ruin won't measurably affect everyone else, even if it does in theory, a butterfly flaps its wings yadda yadda.

>>52537395
>hey, some of you goys are alright, dont come to bitcoin tomorrow.

>>52540008
That sounds survivable, and so does coinbase going down.
I think tether going pop will be left for the next bull market. No reason to do it now.

>>52538525
I guess they could take two exits, into fiat and into bitcoin
>my God, they're taking the fiat exit aren't theysr4pt

>>52538274
they are less relevant than they used to be but everyone uses Orange Site.

Let me guess, a fortnight?

his friend exited at 0.08, almost the ethbtc top

>>52537317
bullish

hearoors gonna hear

>>52540613
Does this guy have down syndrome?

His friends said this his friends said that this is not advice

>>52537317
it s the first time i hear someone saying that. I m selling NOW

>>52540670
he's obviously psyoping and tries to buy as much crypto as he can

>>52537317
Fuck him and fuck ycombinator. Crypto hating fucks, reddit-wonna-be.

>>52540613
Lmao

>>52540685
Based swiftness

>>52539862
RIP CZ. He just died reading your comment

>>52541069
I will irresponsibly abuse this power. I have the Langford basilisk and the world will never be the same.

>>52541116
That reads like ESL word salad. Come to think of it, it reminds me of Ethereum's spaghetti code.

>>52537317
all the crypto fud comes from boomers who are too scared to make an email address

>>52541245
I'm actually curious: what part of it doesn't parse for you?

>>52539904
>everything affects everything doesn't it
lol you wish baggie

>>52541245
Be honest: you are the ESL pupil, no?

>>52541652
It all parses just fine.

>>52538235
The mass realization that crypto is inherently worthless.

>>52537317
Jannies are NIGGERS
I WANT TO SEE THEM BAN ME
THEY CANT

>>52537317
its why brian sold his stock... to scoop the crypto lows

>>52541245
> the words Jason,
> WHAT DO THEY MEAN???

>>52539695
Thanks anon, best wishes to your future endeavors too. I actually got rejected from TechStars kek

>>52539727
Here's the thing.

1. Coinbase is a regulated company. Furthermore it has little influence on crypto much less could ever be classified as a "systemic risk". Binance has 10x more volume than Coinbase!

2. This retard tweeting that he got insider information from someone in the know and you implying it's Brain Armstrong if right would implicate both the twitter fag and brian amstrong. They would literally have their words put against them in a court of law. Furthermore the retard tweeter knows this very well so he would never go on twitter and imply that he knows something that could hold him liable in court later on.

Just stop and think you brainlets you clearly aren't an autist.

>>52537661
>incurable autist
>moved to japan
>found beautiful asian wife
>makes shitloads working for stripe
>still takes time out of his busy day to write autistic blogposts
I genuinely appreciate the guy. I think he's wrong about this one, but his autism is pure, not coming from a place of hate.

>>52537317
Tether is a hot potato game. shit is getting hot and Jews no longer want to play :(. goyims will be left holding hot potato. auchie!

>>52542646
>not coming from a place of hate.
which devalues the entertainment you cringy redditnigger

>>52539872
they're justifying not doing any research to themselves. this is the same instinct that got them to dump all their money in crypto and is going to wipe them out. fuck if paul graham is hearing stuff he's pretty connected
agreed, they're ngmi

>>52541245
>look mom I spotted the ESL!!

>>52537317
Absolutely worthless "information".

>>52537317
>I have an announcement to make on a sunday, when the volume is at its lowest, also when crypto price have already been decimated.
So it was true then, too much people withdrawn their coins from exchanges to the extent that exchange shareholders need to tank the price as hard as they can so their fractional reserve exchange can redeem their fake IOUs and avoid bankruptcy.

>>52537317
>brutally mocks paul

>>52537317
SOMEBODY KNOWS SOMETHING

>>52541859
>he doesn't know about decentralized trading platforms where you don't need kyc

Somebody once told me the world was gonna roll me

https://saylortracker.com/

RIP

>>52544434
Brutal.

>>52544434
honestly this is cope.
Paul is connected to the policymaking Jews.
They really do have inside info.

If governments decide to start cracking down and normiebucks started drying up, things could get bad.

>>52537317
The systemic risk is obvious to anyone with a brain.
1) Satoshi
2) The industry itself as it is scam and incompetence ridden

>>52544434
>trust the Russian twink
>USDT, the main in/out of crypto not about to collapse

Exit scam

>>52542351
I can tell you have an IQ barely over room temperature just by the fact that you draw the inference System Risk + Brian Armstrong => Coinbase is the system risk. Who else thinks about systemic risks to crypto more than the CEO of literally the largest exchange and has, coincidentally, known Paul Graham for just over 10 years? It’s obvious the origin of the risk is exogenous to Coinbase but affects the entire industry.

>>52541116
Kek, this autistic skeleton has a sense of humor

>>52541116
It would be shame if ...
He'd be such a faggot...

Oh, wait...

>>52544872

this

armstrong is shitting himself because he knows one of the major players in the "industry" (its not an industry so much as a grift) is about to get fucked. That's bad for armstrong/coinbase because, despite playing by all the rules, they'll get fucked over as normies and others lose interest in crypto. Of course the perma bull tards think normies will buy back after losing literally all their money in scam after scam kek

ive never seen a group so frequently getting things wrong yet still confidently making assertions as crypto baggies.

could have something to do with greyscale refusing audit

>>52537317
He seems pretty buttblasted after being called out in his BS.

>>52542646
Bagholder fragility

>>52545119
Vitalik is right

>>52545119
why is a 60 year old typing like a zoomer lmao

>>52545507
>is typing like boomer
Hurr, durr, boomer talking, blah, blah.
KYS

>>52537317
>I KNOW SOMEONE WHO SAID SOMETHING COULD HAPPEN IN TWO WEEKS
riveting content

>>52546122
graham, please

>>52546499
>https://pbs.twimg.com/media/FA9C1nGVkAgI2_Y?format=png
Suck it dry, no spitting. Schlop, schlop.

>>52537317
I'd also be concerned if he were exposed

Gonna go with Paul on this one, I mean "big happening in two more weeks" is a bullshit tweet, but vitalik has a huge vested financial interest in this and is an unlikeable fuckwit. Also he has a massive scam premine and made baggies of all the people who staked their eth. Also eth is cancer.

>>52537317
source: a trusted dude

>>52538274
most it professionals are anti-crypto
its understandable because a lot of crypto fans are retards

what they miss is that two can be retarded

>>52537317
Attempting to manipulate the market is illegal. Someone tell this fear mongering retard.

>>52546898
It's not illegal. It's part of the game

>>52544872
>>52544991
how much are you guys getting paid for this dud campain? where can i get the same job?

>>52542351
he's definitely referring to Brian Armstrong. Coinbase is custodian to GBTC funds though, so I assume the systemic risk he's talking about has to do with that.

>>52547112
So you're saying Coinbase falsified the assets they're holding for grayscale to auditors??

>>52545119
the tweet was pretty uncharacteristic of graham, which is why I wouldn't just brush it off. he probably does know something big is about to happen, but can't come right out and say it.

>>52547149
>boomer comes across his first tether fud on facebook
omg better warn the young ones

>>52547125
no, but maybe they are trying to withdraw now in order to liquidate. there's certainly going to be conversations happening with coinbase about these funds if anything is our of order...cause it's a fuck ton of btc

>>52547149
Are you acting on the tweet? Like what's the move here?

>>52537317
>>52547149
>Load ze silicon valley fud
>>52538274
go back, never return.

>>52547172
I was already positioned before this tweet. the uncertainty around GBTC is massive and not something you should fade anon.

>>52547212
So I should sell all of it at a loss now?

>>52547212
i dont belive it to be the case. Coinbase walks on egg shells. They didn't peruse yeild farming scheming because the asked the SEC first. you have to be retarded to believe this paid campaign going on right now