/biz/ - Business & Finance

>>6647961

what does this mean?

Bitcoin is about to go on a rampage

>>6647988

all in

>>6647961
Dead cat bounce tards btfo.

>>6647961
Can't wait for the pink wojaks of the people who triggered bitfinex's trap card.

>>6647961
you know how tether works right?
you buy tether, and it immediately gets printed ans traded for your btc/etc.
you sell tether, and it doesn't get burned, but kind of continues on as a non-functioning zombie token. In big crashes, a lot of people tether for safety from the market.

IN TETHER WE TRUST

>>6648077
Checked and Kek'd

Praise Kek!!

>>6648089

You realise Tether is artificially printed by Bitfinex to pump up Bitcoin right? Do you know how many countless times they've done does.

It's not healthy for the market what they're doing.

>>6647988
Means fuck all.
Thether is absolutely useless, it's like replacing fiat with a less reliable and secure type of fiat.
It's dumb as bricks.

YESSSS.

>>6648089
How long does it take to hit the market? a few minutes, hours?

100 million is 0.05% of bitcoins market cap.

It will not cause any fucking moon. You guys are brainlets kek.

>the actual state of biz

>>6648203
(stupid person)

>>6648184
don't care. It is good for me. It is bad for wall street and stupid boomers trying to get into crypto.

>>6648227

imagine how much a 100M bitcoin order would pump the price... mkt cap is irrelevant here

>>6647961
550 Million Tether in a month
Tether going to the Top 10 on cmc end of month

>>6648262
We have never seen an entire 100M, 30M, 50M order in one shot, post tether print.

How new are you?

>>6648227
you are the brainlet. BTC is so thinnly traded that 10,000,000 USD trying to get into BTC(or out) will drive the price up (or down) a couple hundred dollars.

It is called slippage. You should read up on it.

>>6648184
Meh, you should really worry about fiat as well, then. It's not as if our currencies were actually still backed by anything like gold reserves. It's all make-belief.

>>6648319
Point me in the direction of these huge 10m entry spikes post tether print. You can't because you're a brainlet who thinks people drop tens of millions instantly.

>what are stagger buy bots
>what is slow accum

brainlet biz is on the case again.

>>6648377

>>6648377
of course no one would do a 100M market buy, it's the trend of 100M fresh entering the market of driving the trend. THen arb bots of GDAX will jump on etc, this is just the match.

>>6648322
Yeah make believe backed by thousands of nukes dozens of aircraft carriers and a million man standing army.

This same shitpost is in every tether thread and it never holds. Bait no you for you

>>6648377

bitfinex has usdt pairs for every crypto it has... doesnt enter the market thru eth or btc only

>>6648322
Tether printing = Creating bubbles = More bubbles = More crashes = Normies getting burned = Government steps in to regulate

If you don't see how this will mean the end of crypto in the long run you are fucking retarded.

BTC got popular precisely because nobody could print it artifically, it has a cap on how many BTC can be created.

This defeats the whole purpose.

Ok guys I've read about this a lot

If tether is such a crazy threat, why do all the exchanges accept without a proper audit

Is it at all possible bittfinex has made a shit ton of money last year and these tethers have backing? tether printing in times of high volatility makes sense because there is more demand.

>>6648500
shut the fuck up boomer i'll take my inflated bubble with 2 anvils over my head that can drop at anytime over growth off "fundamentals
" aka 5% a year

>>6648536
It makes sense that more tethers are printed when the demand increases (in order to maintain it's 1 tether to 1 USD value), but where is the opposite? Where have we seen them burning tethers during a bitcoin bull run?

THEY CANT KEEP GETTING AWAY WITH THIS

>>6648621
>implying people cash out

>>6648536
Yes, the tethers are backed, but the backing was obtained in a fraudulent way.

Print tethers -> buy appreciating asset -> sell asset for slightly more USD than tether you printed -> Use that USD to back tethers in circulation -> keep left over USD for yourself.

So they are skimming USD off the top and giving the market a more easily transfered USD token as compensation. good, bad, either way i don't really care cause it helps me arbitrage.

>>6648077
Praise kek.

Call it in to the Bogdanoffs. We mooning now

>>6648227
Biz is pretty retarded, just like you. You clearly don't understand how marketcaps work.

>>6648414
I keeps seeing this bullshit argument that US dollar is backed by the US military. The fuck do you think the military is going to do if the value of the dollar (which is based on people's confidence in it) drops. Are they going to bomb the unbelievers? Get the fuck out with this retardation.

>>6648955
More specifically, the dollar gets its strength by being the currency used for the world oil exchange. So yes, anyone that tries to break that mold gets bombed

>>6648955
>(which is based on people's confidence in it)

Implying the value of the dollar is purely speculative.

Retards calling out retards.

Why is it dumping? Is every whale cashing out to tether to buy the dip or what?

>>6649146
looks bullish to me

>>6648322
the usd is backed by oiltrading, the american army and ur burgertaxes

alway the fiat ponzi meme from basement dwellers, go ask ur patreon heroes about that

>>6648955
They already bomb the unbelievers.
Ask Gaddafi.

>>6648955
More like US property. A few cities could pay off the US national debt.

>>6648293
Why should they issue 100mil tether?
Thats right because somebody wants to put huge stacks on the BUY ORDER BOOK you fucking retard, it doesnt matter if you have one singel order for 100mil. You have the demand increased by 100mil that is driving up the price like crazy

>>6649222
and a 19 trillion dollar GDP.

>boomers
kek, theres no boomers in crypto faggots its only millennials scamming other millennials

wont be suprised if they just outright ban crypto since you cant unfuck the mess that its a ponzi built in a ponzi built in a pyramid built on a ponzi backed by nothing

>>6648246

You turning crypto into USDT to hedge against devaluation will do nothing once Bitfinex goes belly up and people panic as they figure out that this shit is worthless.

>>6649322
I wonder who will my special snowflake shit generation blame when the last boomer is dead.

>>6649090
>Implying the value of the dollar is purely speculative.
Not really. It's based on confidence and that confidence is based on real world factors like the US economy. The military obviously does play a role but saying that the US dollar is "backed" by the US military is asinine.

USD is backed by the fact that it's a stable country with a functioning economy and taxpayers.
If you live in a shithole that devalues its currency every Tuesday like China, you'd rather hold USD over Yuan. Only brainlets don't understand this

>>6649406
half of the world is plastered with us army bases
y?
for burgersafety?

what is the roman empire?

>>6649406
Ah my apologies, I misunderstood what you said.

Holy fuck the Ifinex crowd is actually fucking autistic... that's 450000000 in just FOUR DAYS now. Stop RAPING my market!

>>6649322
>backed by its own money printer
fixed that for you

>mfw Tether is backed by PepeCash

>>6648227
>market cap

>>6649687
Why does your meme line go backwards

>>6648500
what are your thoughts on shorting tether?

>>6649795
Daylight savings in there timezone

>>6649863
and how would you go about doing that?

>mfw faggots are saying tether is a scam but I put all my money into it just before the crash and didn't lose a penny, and am now buying the dip

>>6649795
>>6649941
this

>>6649864
Looks like a star of david formation
We're going to 30k

>>6647961
Still not able to register to redeem my 82k USDT. How long does it normally take? Are there servers overloaded right now?

>>6649795

Ever hear of a retracement?

>>6648478
11/10

aaaaand BTC - USDT is not available again due to too much traffic

>>6649941
kraken offers usd/usdt trading

>>6648621

You can only cash out through Kraken and they're not big enough to support a tether run. Not even Bitfinex lets you cash out USDT. In fact if you go to the Tether website they straight up say that they're not obligated to follow up on the entire premise of backing up printed tethers.

Most people only hold tether as a hedge against devaluation but even that is based on the flimsy trust that somebody, somewhere believes that they can cash out (usually an exchange). As for why they all accept it for now, as >>6648536 asked, everyone is just following the incentives, and there are no incentives to ask the hard questions. Bitfinex earns money whether USDT goes up or down vis a vis BTC, they can just short one or the other.

>>6650391
>0.13% of total volume

>>6650391
how would u short tether via USD when tether is pinned to the dollar.

>>6650459
lol

>>6650459
Shorting tether usually means using more of it to buy back BTC, that's why you are seeing a market recovery right now. Tether is pumping the market cap with something as valuable as car wash tokens.

>>6650582
that doesn't make sense. Shorting a security is the belief that that particular security will decline in price allowing you to buy back that security at a lower price.

So how do you short tether via USD?

>>6650537
humor me faggot.

>>6649687
what's the site anon?

>>6650736
>So how do you short tether via USD?

You can't. You can only short it by buying back crypto. When bitcoin exchanges find out that Tether can't follow up on its pledge to peg each tether in circulation you'll start seeing crazy things like people using 100.000 USDT to buy 1 BTC. This is going to make normies think that this is what people are paying for BTC with actual money.

Tether is a disaster waiting to happen.

>>6650736
mexican pesos

>>6650884

That is my point, it's not possible to short tether. I'm well aware that USDT is incredibly vulnerable to a bank run.

I just wanted to hear some of these ignants explain how to do the impossible.

300m in 48 hours, you guys are fucking blind. This is about to pop.

>>6651255
this
dubs confirm
we are running out of grater fools (https://en.wikipedia.org/wiki/Greater_fool_theory))
there isn't enough influx of money to keep the price up and tether can't last forever.
Wall street shorted btc like a bitch the last week and they are going to do it again with the next round of futures