/biz/ - Business & Finance

>>6732552
the tether fud is getting pretty scary

>>6732552
He found out that Justin Sun banged him mom.

https://medium.com/@bitfinexed/coinbase-insider-trading-litecoin-edition-be64ead3facc

trusing chinks at all

>>6733055
>the tether fud is getting pretty scary
It is fucking scary. Even crypto veterans will probably cash out the moment there is a smoking gun on tether.

I held through china's bullshit since October but no way im holding the moment Bitfinex exit scams. I'm going to hold and refresh /biz/ everyday until Bitfinex exits.

>>6732552
Nice

Can we stop with the FUD please? You are only making it worse.

>>6734377
It isn't FUD if it is real

'Beginning on January 1, 2018, Tether Tokens will no longer be issued to U.S. Persons'

So who can audit them? No one....

>>6734360

>>6734377
Lol as if your little soyboy hands covering your ears will stop crypto from imploding once tether goes boom.

nothing
charlie lee is a faggot that got too rich with a shitty btc knockoff
guy needs to be shot

>>6735107
>tether goes boom
Am I retarded for thinking if tether goes boom, BTC price will go up.

>>6734900
US can still shut them down like Liberty Reserve under the patriot act for money laundering. Tether is Liberty Reserve + Mt. Gox

>>6735183
No that makes u pretty smart well kinda. BTC will rise in USDT (Tether) as everyone panic buys into BTC from tether. Then BTC will plummet as everyone moves from BTC to fiat.

>>6735186
Can they?

'Tether’s Location
Tether is incorporated in Hong Kong
with US offices in Santa Monica, CA
and on the East Coast.'

They not based in US - how US can audit them ?

>>6735219
>BTC TO FIAT
you mean ETH

>>6735219
>everyone moves from BTC to fiat.
It isn't easy to cash out BTC on foreign exchanges for US residents

>>6735319
Which Skelly called a bubble at 300. K.

>>6735183
not really desu

>>6735186
Is the U.S. really going to do shit? I think they have way more financial problems to worry about than forcing an international audit over 2b

>>6735280
Liberty Reserve wasnt in the US either go see its wikipedia page. US cooperates with other countries.

Seriously guys? This is basic stuff, no wonder you fags scream "hurr durr its FUD!" all day.

>>6735511
There is no address on the website.
How do they find them? Do you know the address? Besides who will care to audit them if no one make a claim against them?

>>6734219
>>6734802
FFS

You sell BTC for tether, who do you think buys the tether back from you after you're done with it? That's right, the exchanges. That's the same system as hedging with fiat, except it can be backed by both crypto and fiat. It's up to the exchange and bitfinex printing it to decide how they back it, but there's no reason to expect they can't back it since they survived the latest sell-off too.

>>6735482
>hurr durr why will the US stop fraud that promotes itself as a digital USD
>hurr durr why would they target something so OBSCURE and NON-CONTROVERSIAL as the crypto market
Geez. Warren Buffet was right, you fags are retarded. I hope Tether at least stays business until EOY or we are all fucked.

>>6735634
>>6735750
To add to this, tether is only a problem if all tether holders decide to cash out into fiat at the same time. But if everybody doing crypto does that we'll all be fucked anyway, whether you hold tether or some other crypto.

>>6735550
Really? They "cant find Bitfinex" thats how we survive a tether implosion? Thats an even worse red flag. Who the fuck wires 450million to an exchange you dont know the address of? Did you ever think about that

>>6735813
>>6735750
And that's excluding the possibility that USDT might easily be backed by USD.

Charlie cashed out into Tether after investigating you fools. He's waiting for BTC to finish correcting before rebuying at the lows

>>6735823
That's the real question. Do you have a proof that 'someone' actually wired any money?

I never bought any usdt. Did you? I'm not talking about usdt on the exchange - I'm tallking usd to usdt.

https://en.wikipedia.org/wiki/E-gold#Criminal_prosecution

lol people never learn from history

these fags never have the money they claim they have, and it all comes tumbling down when the U.S. DOJ smells blood in the water

>>6735813
You are forgetting the fraud cases that are being filed by the US government which are crypto related.

The third undisclosed fraud case is 100% tether related. The question is when will they act.

>>6735823
Mr Bogdanoff does. You poorfags don't understand how rich people network.

>>6732552
He found put that litecoin was 300 dollars and that he could sell and never work again, and at the same time, get the fuck away from you autists.

>>6735916
Do you have any sources to these?

>>6735823

I'm really surprised that people actually using bitfinex...


http://www.trustnodes.com/2017/11/22/bitfinex-reveals-new-polish-bank-account-panama-registered-company

>>6734219
It's too fucking late to sell when bitfinex exitscams and you are probably sleeping then. Now is the time to sell when everybody is euphoric with their gains again.

Bitfinex is a ticking time bomb. But people use it anyway because it has leverage and contracts

Not much reason to use bitfinex these days anyways, only if you margin trade ETH and such.

>>6735634
But Bitfinex' Taiwanese bank is shady as fuck and no bank outside Taiwan seems to be accepting their wire transfers. Even if their reserves do exist, it's out of reach for non-Taiwan residents.

>>6736189
Bitfinex being insolvent would definitely be a problem yeah

>>6736025
Google it faggot or look at the other tether printer thread its in there. Im mobile right now.

>>6733055
because ur an idiot and have absolutely no understanding of fundamental econ concepts

/biz and reddit shit themseves over tether when its not that big deal ur thinking it is

not saying its not shady at least, but its not the big or even the biggest problem for crypto atm

won't go in detail because like i said most of u morons don't have an understanding of econ at all

I'm not ur mum, but let me assure u i'm worried of other things than this bullshit

>>6736310
All I found was an investigation to a tether hack.

Welp, the positive side here is that at least it's not gonna have as large of an impact as mt. gox. Unless the tether situation somehow propagates to the other exchanges

>>6736352
Tether makes a huge chunk of the volume of crypto its basically saving our asses whenever there is FUD about governments banning crypto. An econ major like you definitely dodnt fall fpr the marketcap meme right?

But dont worry if crypto crashes because of bitfinex exitscamming im sure tether will save our asses again...... Oh wait.... Lol

>>6736352
god you type like a fucking chav, nobody will take anything you say seriously when your post sounds like a concussed retard

>>6736435
>Unless the tether situation somehow propagates to the other exchanges
HAHAHAHAHAHAHAHHAHAHA we r fucked.

Every major exchange except coinbase uses Tether. Binance, Bittrex, Kraken, Poloniex yep u fucking name it they use USDT aka Tether.

>>6736461
why is marketcap negligible? i see this all the time on here and genuinely want to know

>>6736503
>they use USDT
I wonder how many people, especially chinks and pajeets have been trading assuming USDT literally means US Dollars. The shitstorm if that's the case would be unimaginable.

Does anyone know how many tethers are in circulation?

>>6736556
https://coinmarketcap.com/currencies/tether/

Why is it a big deal if tether fucks up I don't get it. Bitconnect had huge MCAP and went down and nothing happened

>>6736461
saving our asses
marketcap meme

look boy, it's not my problem if you are scared of things you don't understand

happens all the time

talk with your local church representative about that if it worries you

and im not an econ major, real chavs do that on the side while studying real science

>>6736612
How does tether work? Is there a limit on how much can be created? How did this even become acceptable

Circulating Supply

1,618,090,823 USDT

Total Supply

1,650,000,000 USDT

Does it mean they can only print 32mln?

>>6736509
Because a 500 billion in marketcap does not mean 500 billion entered the market. The amount of money that entered crypto is probably only 10 billion to 50 billion.

Tether is pure fucking volume. When tether implodes people will realize there isnt really that much demand.

Yep what happens when you trade low volume shitcoins in delta and you want to sell? You have to sell at a massive loss right? Now imagine that for the whole crypto market.

There isnt enough volume for all of us to cash out at a profit.

>>6736553
>I wonder how many people, especially chinks and pajeets have been trading assuming USDT literally means US Dollars.
Judging by the number of ignorant anons in this thread, i guess a lot lol.

>>6736503
That's possible. But there are still upsides - the other exchanges can use their crypto reserves to pay for tether holders, and they might have even the fiat available somewhere. So it can potentially be very bad or not.

Tinfoil hats away lads. Tether is being printed just to bring the price of Tether down to the 1:1 goal. When there are market dips it gets traded about 2-4% over because demand is greater than supply, hence the need to print more to normalise the price.

Also there is no fundamental reason to doubt that the company could have sufficient reserves, since they receive a dollar worth of assets for every Tether they sell onto the market and they can obviously sell that asset for a fiat dollar as soon as they receive it. It is the people who buy the Tether that fund the fiat backing. You don't need to ask where Tether gets the money from to back more Tether as the money comes precisely from selling that Tether to willing buyers.

>>6736766
dubs for truth

>>6736722
>But there are still upsides - the other exchanges can use their crypto reserves to pay for tether holders, and they might have even the fiat available somewhere
So these exchanges have to take a massive loss right? What would that most likely result in?

Hmmmm bankruptcy and closing down.

>>6736669
than cash out already and put your money where your mouth is

jesus, u retards are even worse than the "we will all get rich desu" hypers

take it as a chance to sit down and actually read a few books about econ instead of lurking here and reddit and get hyped up, u will profit for the rest of ur life from it

or call it a day and have a wank

don't care

but this fearmongering is pathetic you sissy

>>6736789
That depends entirely on where the assets backing tether are located. Do the exchanges pay bitfinex to buy tether? If so, bitfinex holds all the backing and tether is indeed a time bomb. Or do the exchanges just prove to bitfinex that they have backing assets? If so, it's business as usual even if bitfinex pulls le grande exit scam.

>>6736819
>but this fearmongering is pathetic you sissy
You sound pretty fucking terrified though. If you are so sure tether wont implode then why do you care if people get scared?

The moment tether implodes expect -90% losses on every crypto.

>>6736612
Coinmarketcap isn't accurate though, tether has printed a lot more than that.

>>6736865
>Or do the exchanges just prove to bitfinex that they have backing assets?
This is the best case scenario. Why wont the binance CEO clarify this? Hes pretty vocal on tv. Would really do crypto good if he tries to give his side on the tether situation.

>>6736918
u clearly must have some mental issues, look up the psychological concept of transference

if u really are worried u dramaqueen, did u cash out already?

if not, why?
enjoying the little tickling the sensation of fear gives u?

>>6736503
>u fucking name it they use USDT

bitstamp does not.

>>6736865
Which exchange would be retarded enough to wire Bitfinex $ for some fake monopoly money? This Tether FUD is way overblown.

>>6732552

no wollies ... all is well

meme

cashes out

this ricer saw it coming along with everyone else who isn't afraid to look

>>6736918
i care because right now its rainy outside and
personality types like you are the ones who should be avoided at all cost

especially if you are a girl

remember it anon, will make your life better

>>6737046
>if u really are worried u dramaqueen, did u cash out already?
Not yet. Why? Because i havent made it yet u idiot.

Doesnt mean im going to turn a blind eye to tether like you brainlets.

>>6737046
>if u really are worried u dramaqueen, did u cash out already?
Not yet. Why? Because i havent made it yet u idiot.

Doesnt mean im going to turn a blind eye to tether like you brainlets. you don really type like this right? You sound like someone with a two digit iq

>>6737216
strange things must be going on in ur head

u will never made it anon and not because of tether

seek some help or get your shit together, maybe hit up the local library

your brain clearly isn't wired strong enough for the internet age

learn to understand

no one likes the dramaqueen

not being homophobic but maybe ur a fag deep down?

only tryin to help u desu. im sure daddy loves u anyway

>>6737322
why do you type like a fucking faggot? Kill yourself

>>6737322
Fuck replyig to this retard while mobile isnt worth it. Im out of this thread.

>>6737357
KEK

>>6737357
only because im so worried about tether and my internetmoney

you cryboys

>>6737322
you write exactly like a pajeet

>>6737398
grindr buddy arrived around the corner?

>>6737449
maybe im from the tether clickfarm to lure u into our grand scheme and steal ur internetshekels?

>>6732552
What percentage of the Bitcoin market actually uses USDT atall?

The Koreans use KRW, the Japanese use JPY.

>>6736662
What? They've been printing over half a billion this week.

>>6732552
Now it is confirmed. Tether is under a coordinated FUD campagn. Every day multiple threads and multiple accusations.

Bitfinexed is paying the pajeets and Jibrel pretty sure too.

>>6737659

yeah only 700 Million ...

http://stockemperor.com/currencies/tether-printed-more-usd-us-government/

>>6737559
Probably double the circulation of Bitcoin in Binance

>>6736647
This. I see how it could ruin day traders, but why is this such a big deal?

>>6736918
-90% losses. HOT GAINS