/biz/ - Business & Finance

it's gonna be on February 6th

https://www.coindesk.com/sec-cftc-chiefs-set-senate-crypto-hearing-next-week/

>>7258763
what's the problem.

implications are?

>>7258819
>>7258810
Burgers mass selling?

>>7258840
or they remove crypto to crypto trade tax and coins go parabolic, mania phase

>>7258763
It coulld be bullish as we finally get clarification from the us regulators

>>7258875
Do you really think they're gonna contribute to the growth of an unregulated market?
I smell some heavy regulation coming

>>7258946
As per new US regulations Feb 6th all discord groups are a class A felony and all faggot teens in discord groups will be executed publicly.

All pump and dumps that are investigated is a felony if caught.

Remove coin to coin tax.

Check em

the regulators are fin sector lapdogs
nothing positive will come out of this

... Oh.. I guess ill stay in tether a whi longer.

>>7259053
There are a lot of fintech projects. So long as they don't do something retarded as declare all ICOs illegal and people must turn over their cryptocurrency holdings to government with no reimbursement.

>>7258875
wyomming senator already said tokens are not securities!
wwaaaaaa
this hearing is going to be a massive black swan
you pussies you think they're going to FUD, but they're going to shill and maybe bring up Bitfinex and say that if he can prove dollar reserves then it's all good. which ofcourse they can because those bastards ran an awesome scheme. i'll explain it to you inbreds if you want

>>7259074
Tether is under the microscope for now, maybe we should Jew up and go for XRP...
if there's any regulation coming, you know ripple will be the exception

>>7259156
Esplain

>>7259253
They printed USDT and bought BTC with those fake USDT, making the masses believe it was the people getting in, then they sold all the BTC they bought from fake USDT.
Brilliant.

>>7259156
Bls explain

>>7259206
Yeah but why the fuck you would want to support (((them))), remember that ripple isn't even a coin, they will dump it, its just a matter of time.

>>7258763
It means Tether is going to the fucking dirt right after Bittrex gets ALT/USD pairs. Clench your bullholes 'cause we're going for a ride.

>>7259383
pretty much this. they can likely cover it at 1:1 now but the way they got there is dodgy as fuck

>>7259490
but does it matter at the end ?

No, regulators want to check if they have reserves and they have plenty of it. the shady shit isn't whether or not they have the dollars to back up every tether minted but rather how they acquired those dollars.
we've heard about wash trading over and over again. but i guarantee that almost none of you understand what that means.
simply put this is what happened with tether.
they convinced you to accept a crypto in exchange for BTC that you bought with FIAT or mined. in exchange they gave you something that they farted out their nose. so we can begin by saying that you exchange something valuable for something invaluable. don't hate on me, the reason i'm saying it's invaluable is because they themselves disclaimed that no one can force redemption of tether for USDT. that alone means it's worthless. but let's move along.

so you already exchanged BTC for tether. now Bitfinex has your BTC. did they sell it on the spot to cover their reserves? nope. HELL NO, they sold it at a gain. even if it was a tiny gain like 10%, aggregate it across the board and all the tethers they minted and you end up with a massive gain that they were able to generate from selling you idiots tether. so what did they do with that fiat surplus that they have on hand from arbitraging tether for fiat? they bought more BTC, thereby wash trading and distorting price discovery. TADA!

i hope they ban tether or replace it with a transparent alternative. either way tether needs to exit for the show to go on.

they should just be like ok, here are our reserves, every tether is backed by $1, we are going to do a tether buy back and quit this game. but those greedy bastard wouldn't

>>7258763
My accountant told me that last he heard (this was months ago) that there were 80 SEC attorneys working on policy and that they were going to come out with something big.

>>7259730
They are almost certainly going to pull the accredited investor bullshit on every ICO and make it illegal to invest into Crypto if your net worth is below a certain level.

LISTEN FOR ONCE YOU FAGGOTS

https://pastebin.com/QqU5TGFG

5 Things You Need To Know About Stellar Lumens According To IBM
IBM’s Michael Dowling, Group CTO and Chief Architect for Blockchain Financial Services

>It is steps ahead of Bitcoin as it is already compliant with regulations
>It is steps ahead of Bitcoin as it is already compliant with regulations
>It is steps ahead of Bitcoin as it is already compliant with regulations
>It is steps ahead of Bitcoin as it is already compliant with regulations
Do you think a massive company like IBM would invest in crypto without making sure it's legally sound? Do you think they wouldn't have a way of knowing or even lobbying for what they want to see this technology become?

BUY XLM

the funny thing about the tether shitshow is the only way out of Tether is via crypto, and people STILL think it's a safe haven

>>7259767
This would be great as it would force new crypto ventures to pursue a less scammy and more fair means of token distribution. ICOs are bad for crypto

>americans don't realize yet they'll have to pay a ton of taxes
>they'll have to sell off in the coming months for the IRS
>already shit ton of losses and FUD

BTC is going to 5k

I'll buy the dip after april.

Yikes. J/k not worried at all.

> they'll acknowledge crypto as an emerging asset class and seperate them legally from stocks and bonds
> crypto to crypto gains will not be taxed anymore
> 1hr after the hearing robinhood will open the gates for their crypto trading
> the current selloff was orchestrated by insiders who know this and wanted to get in cheaply
> february crypto will surge again to ATHs
> the stock market will continue to crash and contract after the 2017 runup
> btc will be uncorrelated to the stock crash and continue to rise
> investors will acknowledge BTC as digital gold and hedge against traditional markets

nice timing retards, when does this shit end?
>J.P. Morgan Chase Bans Buying Cryptocurrency With Credit Cards

https://cointelegraph.com/news/jp-morgan-chase-bans-buying-cryptocurrency-with-credit-cards

>>7260227
I can physically feel this coming, like when you walk in a room after someone had an argument, but you didnt actually see or hear it, but you just know theres tension, the energy. 2018 is going to be life changing for some of us. I feel it. As ridiculous as this sounds i know theres others who know whats coming.

>>7259832
>the only way out of Tether is via crypt

Lol what? So what are all the USD/USDT pairings I use all the time to arbitrage tether fud? I have made so much cash off tether FUD its unbelievable.

>>7260227
literally this except stock market wont crash, it will get hyperinflated

>>7259913
brainlet

>>7259817
you know you can always sell your bags anon...