/biz/ - Business & Finance

Oh and with all the hard forks etc and its lack of useability it also resemelbes a ponzi scheme. That is not bitcoin's fault. but people can take legitimate things and make ponzi schemes out of them or form bubbles around them.

>>7410657
With that logic
>Gold is a bubble
>Stock market is a bubble
>Housing market is a bubble
>Fiat is a bubble

Literally anything can be a bubble. Stop trying to FUD and just buy the dip.

This just a dead cat bounce.

>>7410690
this

>>7410690

No, you misunderstand. Bitcoin is not a bubble. Those things are not bubbles.

But they can EXIST INSIDE a bubble!

>>7410657
>constant bubble
>bitcoin has no intrinsic value
>normies are normal
>hear this everyday since bitcoin inception
then what's the problem? wait until wide spread adoption of blockchain and get out?

>>7410751

So like, yes, bubbles have formed around the housing market, fiat, stock market, and gold before.

That does not mean they are scams and should never be purchased.

It means those who are "long" are getting ripped off if they buy into bubble prices and then hold.

Obviously owning Amazon.com stock during the dotcom bubble would be fine today. But you overpaid by not waiting for the bubble to deflate if your intention was holding.

Once companies can use DLT to lower costs and become more competitive, or once a DAO can outcompete traditional companies, crypto is not going to be a bubble but instead "just the way things are."

Nice try fudfag

>>7410657
this is worse than the "high tx fees" meme

kys

>>7410773

Also, popping of a bubble can take some tokens to Zero price, something which I don't think most crypto holders are prepared for.

Just be careful is all.

bitcoins not a bubble its just a shitty first invention, like the first car made was a peice of shit but because it we have the movie cars

BTC needs to die already. Crypto is going to be huge but it's hard to justify buying into a market where a retarded deflationary tinfoil anarchist libertarian wet dream got pumped up by bots and FOMO and is still trading at 7k.

>>7410657

Perfectly legitimate sentiments anon but can you do me a favor and explain this:

>It took me until today to fully realize wha this means

What do you mean it took you until today realise what this means?

>>7410657
Wow nice OP baby's first trading lesson.


God I've waited so long for the bear to come a slaughter faggots like you. So glorious.

>>7410657
Brah. You might wanna think about buying back in.

>>7410657
What always makes me giggle are the 100x cointards who think that an increase in adoption will, or does, or should, correlate with an increase in price.

Increase in price actually HINDERS adoption.

>>7411313

Thanks, I'm watchiing it. However, I am not going to buy at major resistance during an attempted breakout of a bearish pennant with the threat of a double top looming after that

>>7411237

I just mean I was kinda deluded today. I toked some weed and I understood why people call it a bubble.

I mean, I *kinda* knew it was, but didn't really think about what that means and wht the correct course of action was.

When a bubble is inflating, you should be buying and trading, sure.

But when a bubble is deflating... you get the fuck out until the carnage is over.

You might miss some nice bull traps, but you'll be able to buy the ashes afterwards.

>>7411876

The whole point is it's only appreciable as a bubble in retrospect.

You could quite legitimately say it will power on upwards to 6 figures this year which is no less mad a proposition than what it's done so far - yes based on speculation however also based on the process of funding some actually viable projects.

The fact people have been saying "it's a bubble" all the way up is healthier than them not saying it - but it's not generally a feature you see in bubbles...

>>7410773

problem is theres a very good chance that we're well below the 'return to mean' post 'bubble pop'. I think looking at the kind of sentiment that forms around crypto its absolutely rational to conclude that we're headed for a bubble. I'm not convinced, however, that its actually developed yet. Compare the size of crypto markets to the dotcom *after* the crash and it becomes clear that crypto really isn't particularly inflated yet.

>>7411313
that dildo is beautiful

reddit spacing

>>7410794
Read this post 7 times please.

Main problem is still TETHER which still has pumped this market up by literally printing 3billion USD tethers to blow up the bubble.

When they get audited its going to be a never before seen crash. Definitely not buying now.

>>7410657
>he didnt realize the world is not anymore the way it used to be

>>7410657
Cryptocurrency as a whole is a bubble with all the ICOs and PnD
Just like wall street creating all the ETFs like XIV and make millions, then one day it pops

>>7412322
This.

bfx and tether being connected means that bfx will most likely go insolvent leading to a domino effect across exchanges.

>>7410657
blah blah blah blah blah blah

>>7412322
The outcome of the audit will either crash or boom the market. It will be instantaneous.

>>7410657
I agree OP but it's impossible to know where the "return to mean" is. Anon's love to photoshop le meme chart over coinmarketcap's 1 year chart, but the scale is completely arbitrary.

You can roughly estimate Ripple or REQ's value by looking at the size of the industries they're disrupting (currency exchange, ecommerce payments), and then adding a probability they'll succeed. But BTC is much much harder. As a "store of value" coin, it's basically whatever the market chooses to make it.

>>7410751
The US government just said we're going to $20 trillion next year and bitcoin is the future. Your brainlet opinion is invalid.

>>7410657
it is a bubble but its a small one faggte. even if it crashes to 100bil marcet cap it or less its gona recover fast because that is almost no money when you look how big the market is.

>>7412575
*by 2020

Normie here, how come everything went 30% today?

>>7412601
because 24 hours ago was a bloodbath

>>7412621
So basically...market is stabilizing back and nothing big happened?

>>7412510
Yupp.

My only wonder is how it will end. I except one of the two following outcomes:
>They reluctantly allow and audit forced by SEC. They will cook their books and try to hide it, but wont succeed. Publishing of results will begin the free fall.
> Tether will not allow audit. SEC will be forced to blacklist them, effectively banning them. Tether will blame government, and try to get away with it. Market will crash.


>>7412552
>The outcome of the audit will either crash or boom the market. It will be instantaneous.

Anyone with half a brain can already deduct the result of that audit.
If you check the last public announcement made by them, it literally says they expect lower volumes as their local bank is refusing to process international wires anymore.
Despite that they've magically received up to 3 billion USD worth new investors.

Anyone that thinks the market is "recovering", think about that for a moment.

Anyone still holding should cash out on these temporary bumps while they still can.

>>7412641
is there the possibility of actually righting the ship if they bought btc at low enough with the "usd" they printed?

print tether(usd), exchange to btc or another coin, cash out and stick proceeds into "reserves" for the backing of tether. A backwards book eventually has to come down right?

gj catching up op
most of /biz/ has known that since 2016. you don't seriously think we're in btc, do you?
the only people holding majority bitcoin at the moment are newbies and room temperature oldfags. everyone switched to eth as their crypto of reference a long time ago

>>7412638

Market crash started due to uncertainty caused by the tether situation as evidence rose that suggests they have been printing a metric fuck ton of coins. Their printing alone is expected to have caused about 25% of the astronomical rise culminating in December, which likely also caused the whole media hype etc.

We are literally looking at a situation where it is very likely that the market corrects down to about 1-2k value for BTC. Or less.

>>7412194

I always see people make the comparison of compare the market caps of dotcom to crypto, but it doesn't really make sense to me

There's no number on what the peak of a bubble will be. Crypto isn't as big of a deal as the internet or housing, don't you think that's fair?

So its bubble will not be as big.

The main factor in the bubble thing is that it is massively "overvalued", driven up by careless investors, so thus has a long ass way to fall.

The internet stocks were overvalued, but the internet itself was a bigger deal during dotcom bubble than cryptocurrency is today and for the forseeable future

>>7412641
SEC never said anything about Tether. Because:

1. They don't operate in US
2. US citizens aren't allowed to hold Tether
3. It's a limited liability offshore company
4. By buying Tether you automatically agree you can't sue them
5. SEC just said yesterday that offshore platforms are out of their jurisdiction

Nothing will happen, retard.

>>7412698
They could definitely try that, similar things have happened historically in traditional market scams many times. 99% it never succeeds, and even if they did it would leave an audit trail that shows they did it the past. Which would still be damning and absolutely still crash the market, but probably not as hard.

Now what most likely has happened so far, they cashed out as much as they could, and are making their arrangements to avoid jail time and prosecution.

>>7412641
> Tether will not allow audit. SEC will be forced to blacklist them, effectively banning them
>ban Chinese company, that explicitly states it doesn't operate in US from operating in US

By the way, good luck explaining trading an illegal offshore security to IRS when you do your taxes. They will fuck your ass hard in jail. Should've read Tether TOS, brainlet.

>>7412726
>$1k BTC
>95% correction
in your dreams you brainlet

>>7412774
>they cashed out as much as they could
I was wondering if this could've had anything to do with the crash.

>Bitfinex sells thousands of BTC at market price
>price crashes
>As soon as it gets too low, they buy it back up to trigger a bounce
>Sell again at the next peak
>Repeat

>>7412751
Sorry you are right, I did not mean the SEC, i meant the The U.S. Commodity Futures Trading Commission.

They have already subpoenaed Tether and bitfinex. And failure to comply is being blacklisted, effectively ending their business 100%.


https://www.bloomberg.com/news/articles/2018-01-30/crypto-exchange-bitfinex-tether-said-to-get-subpoenaed-by-cftc

>>7412852
>They have already subpoenaed Tether and bitfinex.
After which Tether and Bitfinex stopped operating in US and pledged to report US citizens using their services. As of Jan 1. 2018 you are using both services illegally and you will be the one going to jail for securities speculation.

>>7412575
link bro?

>>7412817
>>7412751

what you retards dont understand is that tether has been used to pump btc price which the entire market moves off of.

I open up cryptowatch and almost every single coins charts look the same.

we're talking about 3b tether in circulation that is very likely backed by nothing. thats serious.

>>7412928
Yesterday's SEC hearing. It's on C-span.

>>7412824

Charlie Lee said a 90% correcction ios possible aroujnd the time he sold all his Litecoin.

I think he was trying to hint to us. Just like last time he tipped us off on a crash, this time he was being subtle.

We're the brainlets for holding

>>7412937
>we're talking about 3b tether in circulation that is very likely backed by nothing. thats serious.
You must be new to crypto. There isn't a single coin that's backed by anything. Don't like - don't buy. No one is forcing you to.

>>7412817
It doesn't matter if anyone here has used Tether. It has affected the whole market, and Taiwanese agencies will also be forced to crack down on them once it becomes apparent enough.

>>7412824
You are probably familiar with the concept of a bubble.

The butterfly effects caused by Tether, which was 100% artificially created sparked the whole rise. If this in fact is the case, as evidence would suggest, it most certainly will revert back to the mean which is between 700-1100USD for a BTC.

I know it isn't what you want to hear, but this is long term a good correction. 20k figures were never realistic.

>>7412774
>1k btc
can't tell if trolling or just stupid

>>7412963
youre not understanding, no one had to actually buy the tether.

bfx used tether, a coin pegged to the usd 1:1, to print money backed by nothing to pump btc price. the audit isnt coming because bfx is insolvent and sitting on the biggest crypto scandal yet.

>>7412972
Another brainlet, who doesn't understand how the market works spreading useless FUD.
No one gives 2 shits except a couple of tinfoil retards on twitter. The whole thing is getting old, creating "muh tether" threads for a year didn't make it disappear and it won't make it disappear.

>>7413017
>r*ddit spacing
Go back to where you came from, cuck. You don't belong here.

>>7412461
Lmao

>>7413061
>>7413041
>>7413017
>>7413003

Can't say we didnt warn you.

The problem with talking crypto is everyone is so fucking biased, and just shilling what is best for their position so they lack the sight to actually see reality.

You will be burned by this. I know you are denying now cause you all are in the red now, and are falling for the sunk cost fallacy. i sincerely hope you are not banking too much money on this tether thing being fluff.

>>7412943
>We're the brainlets for holding

greedy not brainlets

>>7413128
>in the red, sunk cost
Fucking moron I’m still up $20,000 though all this bs. You are just cheering for a number that suits you. Admit it, that’s all your hoping for. It won’t happen. BTC was just legitimized by the US fucking government in a hearing yesterday. I never thought I would see that in my life a few years ago. You are wrong. I’m sorry you didn’t buy back in or if you are a nocoiner, the show is over. Go shitpost on pol or b now

>>7412726
>We are literally looking at a situation where it is very likely that the market corrects down to about 1-2k value for BTC. Or less.

This is what nocoiners actually believe

>He didn't get into bitcoin in 2013 or earlier

Subhumans.

Completely assblasted subhumans.

>>7413061
solid argument bud, really fuckin hurt me man.

>>7413195
everyone is up until suddenly they arent. Just because you knew what btc was in 2013 doesnt mean youre a smart trader, it just means you used the internet extensively back then. usdt will kill this market.

>>7412510
>>7412698
>>7413285
>>7413310
Tether is priced in, retard.

>>7410657
It's not, because it literally can't crash. It CAN NOT go below 5k because miners would be losing money and will shut down. Everyone who tries to sell at 5k will be forced to hodl until more people buy in and the transactions can go through.

It's brilliantly inefficient!

>>7413354
>>7413280
>>7413241


ok smart guy. explain how 3b fake usd is priced into btc? what the fuck does that even mean? please show me your brainpower as i am a little tiny brainlet compared to you

>>7413195
>Fucking moron I’m still up $20,000 though all this bs

You are not thinking about it as +20k, you are thinking about it as as "could have cashed out at 200k". So literally the same thing, except you are less likely to make a rational decision now as you still haven't realized any real losses.
You keep that spark of hope in your mind that it will still go up to 20k per BTC.

It is literally eating you from the inside that you might have fucked up here, and the prospect of not having missed out on the top of the bubble price is terrifying.

I'm literally presenting thoughts backed up by facts, and its triggering you and others to call me a "fucking moron".

I know you think your "Hodling" meme, and shilling can affect the prices, but friend. This bubble has burst and we have not seen the worse of it yet.

>>7410657

I think everone knows this to some degree and it's useless information really, the big question that no one can answer is always going to be WHEN.

Anyone who still has BTC instead of ETH will be pink wojaking hard one day.

here you guys go

https://news.bitcoin.com/bitfinex-printed-one-third-usdt-receiving-subpoena/

https://thetetherreport.com

>800b market cap for a nascent technology which can only be equated to the internet is a bubble
>but a >1 quadrillion $ derivatives market isn't ;^)

thx for confirming that you are a brainlet who does not understand

>cryptography
>distributed networks
>smart contracts
>DAOs

>>7413391

it's easy to say all this now when it's almost at all time low. Just like we had many people saying how bitcoin will rise again and 17k is just a dip. How about you make a real prediction of the bitcoin price in 2 months

>>7413391
there has never been a worldwide bubble in the history of the world anon. crypto has died and come back so many times, so powerfully it's unprecedented. this whole event is something totally new and calling it a bubble is shortsighted at best

>>7413447
lmfao

because all bubbles have the same marketcap? what the fuck man, can you atleast explain what youre saying instead of greentexting? it doesnt give you any credibility.

>>7410690

crypto currencies are barely on the radar ... and no country is defending them ... everyone knows they are made up of thin air whilst barely caring for blockchain "technology" - which is up for grabs for FREE

Blockchain will have a future but that won't be cryptocurrencies - unless it gets adopted and regulated into a "your country coin by your government"

we can already see crypto-niggers don't care for the tech why would they? all about quick gains

this market is just rotten to the core ... and i'll ride this corpse until it falls to pieces ... or rises again

meanwhile its best to keep an eye on the volume and overall marketcap

tokens with actual utility and application might survive

>>7412641
this.

Sorry you missed the bottom OP

Keep staying red while we stay green

>>7413310
>>7413391
I give up with you morons. Whatever. I’m bullish on crypto, sorry if you are not. You will be left in the dust when history unfolds right in front of you. Adios MF!

>>7412751
Bullshit, when you hear about something involving US dollar - know that US gov will get you. Now think for a sec, what is USDT?

>>7413483
It was heebs tho

>>7413533
you dont even have anything worthwhile to say because you don't know what we're talking about. you should atleast stick around and lurk so you can educate yourself a bit more.

Don't know what's with the FUD today, the U.S literally just endorsed crypto to the world and want to embrace the technology, let's see who wins

>>7413533
kek

>be you
>gets presented rational ideas backed by real evidence
>"Fucking moron cuck idiots, you dont know shit, yolo 20k money im gonna get rich hodl moon kek im bullish lel i will make market booom to the mooon"

>>7413543
usdt has been subpeona'd by cftc

https://news.bitcoin.com/bitfinex-printed-one-third-usdt-receiving-subpoena/

seems strange to intake 1bil in new investments after a cftc subpeona is announced, normally these things go in the opposite direction...............................unless its fraudlent and usdt/bfx is locked into propping up btc with fake money or else everyone will know their exchange is insolvent and will lead to a domino effect.

>>7413569
A question. How bad is it if they get audited and the reserves aren't 1:1 but 1:0.99 (or that they were so at some point)? And 1:0.9? At what point does it go to the price of a potato chip?

>>7412322
Oh, to open a leveraged position on that day

>>7413578
That's all well and good. But the real post bubble price should still be below 1k, and perhaps with the US "endorsement" (more like, were gonna protect the investors, but sure) price could be cracking 1200 USD realistically.

The correction will happen once the scale of Tether gets exposed.

>>7413388
How do you know it's fake? You have no proof whatsoever.

>>7413634
i would very surprised if they have 2,970,000,000(1:0.99 ratio of current tether circulation)

The only proof of money they have is a screen shot of an account with 600mil usd with a redacted name. this came after people called on them to prove their reserves when they said their banking relationships failed and they wont do the international wiring.

what is more likely is that 600m usd was gained from converting tether into btc and then out to usd to show as "backing".

to answer your question: the market will collapse and hard because btc is coupled to everything.

https://news.bitcoin.com/bitfinex-printed-one-third-usdt-receiving-subpoena/

https://thetetherreport.com

Id really recommend reading the second link, forcasting a 40-80% correction from btc ath

>>7413607
or everything is fine and they have no reason to halt their business. meanwhile weak handed investors and butthurt nocoiners are hanging on every word of the alex jones of crypto, bitfinexd.
I HAVE THE DOCUMENTS ITS ALL OUT THERE CAN'T YOU SEE ITS ALL OVER

>>7413569
>>7413605
>rational ideas
>evidence
Oh I’m sorry, was all that bullshit you were spouting from your greasy sausage fingers from your armchair into your keyboard without sources supposed to be credible because you tipped your fedora extra hard at me? You literally know nothing NOTHING of the future. Nobody does. You don’t know shit about tethers books as well. Are you an accountant for Tether? Are you an auditor for a big 5 firm working with tether? Are you a government regulator? I think not. You are a speculator with an idea just like everybody else. Tether is just a small piece of this puzzle, they came into existence long after BTC and a handful of cryptos. If Tether goes down it will be forgotten in a week. But you want to know what I believe will happen? They will be fined and allowed to continue doing business. A slap on the wrist with a financial penalty and that is that. Your rooms day theory will not play out. Not this time, not this year, not now. Green text me and tip your fedora at me all you want, it doesn’t make you smarter.

>>7413689

https://news.bitcoin.com/bitfinex-printed-one-third-usdt-receiving-subpoena/

https://thetetherreport.com

along with their accounting firm they hired for audits dropping them as customers in mid January for no apparent reason.

bfx/usdt are tied but no one knew about that until paradise papers were released. secondly, 3b tether has been printed exponentially. we're talking 1billion AFTER the subpeona came in.

>>7413731
You have no economic understanding, if they don't have 1 dollar for each Tether that means Tether is engaging in the same practice as every fucking bank in the world, fractional banking.

Is the word collapsing because in the event of a bank run there won't be enough for everyone? No. World thrives on credit and debt.

So yeah, worst case scenario: tether is as bad as banks, big fucking deal.

>>7413634
When they get audited, and it turns out it wasn't 1:1, they have already committed fraud and will be hit with jail time and massive fines, to an extent where they will effectively be shut down.

Even if they managed to get it up to 1:1 its fucked, and will resonate through the market, albeit to a much smaller extent than a full crash.

But let's be honest here, the likelihood of them doing that when have hundreds of years worth of examples of other companies doing the same thing, they NEVER make the money. They always run, they are criminals.

However, I don't think they will even allow the audit and instead slowly wither away and like that try to avoid personal responsibility in the situation.

What is funny, is that the news can be dropped at any point that Tether is blacklisted. And that will cause an instant crash, the likes of what we haven't seen before.

Only question is when.

Bubble denial makes you lose money.

>>7413767

you fucking idiot. of course we arent tethers auditors or regulators but you know since you mentioned that:

on the auditor side of things their accounting firm fired them as customers without saying why and usdt saying way

on the regulator side theyve been subpeona'd by the cftc


sooooooooooooooooooooooooooooo, again, youre showing your lack of knowledge by saying that usdt is a small piece of the puzzle when one of the largest EXCHANGES has been using it as repayment after the hack and to buy btc with lol.

im sorry you bought in without knowing what youre doing. some people made a lot of money, a lot more people will lose all of their money.

>>7413772
>Receiving a subpoena
>Website with 0 evidence

So what? How does that prove anything?

>Oh wow, they are investigating me that means I am guilty

Fucking brainlet

>>7413731
>Id really recommend reading the second link, forcasting a 40-80% correction from btc ath
BitCoin just corrected over 70% from its ATH so what exactly is your point? It will shoot up to $20k again tomorrow then drop down to $5k Do you even listen to yourself and are you too wrapped up into your own head?

>>7413792

the problem is they didnt say they were running a fractional reserve system and allowed the valuations of btc and all other coins to be built on this false predication.

Stay mad the US government saved cryptos yesterday

Based on post timing we got a lot of thirdies / euros who missed the bottom.

>>7413607
>>7412943
>>7412834
>>7412751
>>7412641

The more i look at it the clearer its becoming ...

1. bitfinex got hacked or not (multiple times maybe even their personal crypto DOSH)
2. bitfinex had bots to manipulate all along
3. bitfinex creates tether ... waits for adoption on major exchanges
4. tether works its magic "wow 1 USDT = 1 USD - never mind the US Government friends"
5. more and more gets printed - people catch up to their ploy
6. b is wash trading on major exchanges propping up the price since Nov ...
7. b gets an official subpoena ... (big surprise it was on their radar all along)
8. b knows shits going to get fucked hard ... tries to play along > failed audits
9. b reaches peak attention with tether ... > their subpoena is made official > market crashes again
10. b plays along ... meanwhile they've already re-filled their pockets while maintaining a functional appearance
11. b patiently waits for the US Gooberminte to shut them down ... in one way or another while wash trading their remainders
12. b blames the government lol ... while everyone's been ripped off market crashes HARD and b is off the hook and the people in charge off the grid FORFUCKINGEVER
13. good luck getting concrete proof on anything but "gooberminte shut us down"
>>7412641

>>7413827
youre going to delude yourself into losing all of your investment. straight faced saying it will shoot up to 20k again is pure retard.

>>7413792
>being this delusional
kek

>>7413843
>the problem is they didnt say they were running a fractional reserve system and allowed the valuations of btc and all other coins to be built on this false predication.

How is bitcoin built upon tether when it supposes less than 3% of its total market cap?

Tether, if anything, takes away value from BTC by offering an easy and instantaneous escape from its volatility.

You think printing Tether is pumping BTC price? How the fuck does it work, come on, explain, how do you print Tether and make people sell you BTC more expensive, what's the process, I'll be waiting.

>>7413883
Nice arguments buttfinexed

>>7413927
i.....i already explained that? this whole thread is the explanation anon.

>>7413955
If you don't even understand that not disclosing your fractional reserve is extremely fucking criminal and still doesn't change the fact that they artificially manipulated the market to ATH.

But then again you are probably some neet praying hard to make some money in order avoid flipping burgers for a few years until you shit the bed anyway and go back to flipping burgers.

:)

>>7413927
Author’s opinion - it is highly unlikely that Tether is growing through any organic business process, rather that they are printing in response to market conditions.
Tether printing moves the market appreciably; 48.8% of BTC’s price rise in the period studied occurred in the two-hour periods following the arrival of 91 different Tether grants to the Bitfinex wallet.
Bitfinex withdrawal/deposit statistics are unusual and would give rise to further scrutiny in a typical accounting environment.
If there is questionable activity, the author believes a 30-80% reduction in BTC price could be forecast.

https://thetetherreport.com

>>7413927
read the fucking thread

yes it is a bubble, but no this is not the bubble popping
i'd say it if will pop in max 2 years
maybe this year but not right now

>>7414069
It's popping when tether gets exposed.

Since the pressure on that subject is increasing, it is likely to happen sooner rather than later.

>>7413866
exactly, now, go tell your friends you give a fuck about and short the shit out of btc

>>7414011
Excepting you didn't.

You said printing Tether boosts the price of bitcoin, that's a statement, not an argument. .

You didn't explain the economic dynamics that would boost Bitcoin price through Tether printing, specially not when you have not demonstrated they don't have the US$ they claim to have.

So I guess we'll be waiting a long time before we have a throughout economic explanation of how printing Tether makes bitcoin more expensive instead of it making Tether be able to keep with the demand from people.

>>7413417

Oh, yeah, I realize that. I was claiming the bubble is deflating now.

>>7414180
are you fucking retarded? usdt and bfx are linked. we're talking about an exchange being insolvent and using its coin, very conviently pegged to the usd, to pay out its "hack" and to pump btc price...

>>7414026
I understand that if you don't like it nobody is forcing you to use it.

I also understand that Tether is touching sensitive grounds and they cannot fully disclose publicly their operations due to lack of cooperation from banks and governments.

I also understand that if I'm running a multi-billion business such as Binance, Bittrex, etc, the last thing I need is to blindly trust my livelihood to a shady company, I for fucking sure would be in the know even if the public wasn't.

>>7414180

This is particularly alarming because in recent months Tether has been rapidly expanding the supply of tethers. Last April, there was a little more than $50 million worth of tether in circulation. Today, the figure is $2.2 billion—with $850 million worth of additional tethers created in January alone.

Yet Tether says that during this same period, it has been unable to receive international wire transfers. So where did the $850 million in cash backing these tethers come from?

Some critics suggest that these new tethers might not be backed by anything at all.


there has been AMPLE evidence in this thread they lost their banking relationships and have only shown 600m in a bank account with a redacted name. you're literally sticking your fingers in your ears and saying things that arent true.

How is BTC a bubble when it is still difficult for the retail customer to get into? You can't even use a line of credit to buy cryptos. Bubbles are filled with inflated derivatives/future promises that may have potential value. How that is decided is usually through pie in the sky powerpoints, paid media schills and unverfied data.

With cryptos this is fact and we can all agree here: The success of these blockchain ICOS will dismantle infastructure that cost industries trillions worldwide. Verify information and give people accurate projections. This will disrupt the derivatives market. Go look up the market cap in that market alone.

Don't be a pussy and let's not forget what we are actually supporting here.

NO BUBBLE.

BTC/CRYPTOS is a LEGIT disrupting technology ending all this fuckery in the world.

>>7414180
ahahha oh wow, okay let me help you out kek

>Bitfnx creates Tether, pegges to USD
>USDT gets legitimized as a good alternative instead of converting to fiat.
>Bitfnx starts printing out Tethers
>Market believes this is real people buying the tethers
>Actually Bitfnix just printing it out
>Since Tether is now officially traded on several exchanges, bitfnix starts converting the tethers to BTC
>Market sees sudden increase in demand, price goes up
>Bitfnix cashes out more and more over time
>Still prints out and buys more BTC continuously to keep price high

Very hard to understand i know, but try to understand.

>>7414354
just give up. some people are obviously deluded into thinking theyre going to the moon, some people are desperate and need this to work. i think this guy is just stupid.

>>7414274
Do you maybe consider that Tether's expanding supply is due to its expanding demand?

>there has been AMPLE evidence in this thread they lost their banking relationships and have only shown 600m in a bank account with a redacted name. you're literally sticking your fingers in your ears and saying things that arent true.

So they lose banking relationships every time they disclose their status, and you wonder why they're not more open and transparent?

They work on a need-to-know basis, Binance, Bittrex, Polo, all of these companies know perfectly well what Tether is backed with and it's just not possible that in such a competitive market none of them renounce to Tether in exchange for bitsharesUSD for example and denounce the rest of exchanges.

>>7414238
aahhahahaa

truly a lost cause ahahah

An employee of Citibank told me that as soon as there is speculation that something is a bubble then people take meaures to protect themselves, therefore it can’t be a true bubble.

>>7413128

ANON has all the vision and lets not listen to a the guy who had the vision to create the cellphone market back in the 80s. An investment that netted him over 200 fuckin' million dollars. Let's just not take his advice of this being a potential 20 trillion dollar market.

ANON is right. Everyone sell!!

>>7414425
>Do you maybe consider that Tether's expanding supply is due to its expanding demand?


ahhhhaha I needed a good laugh today. I knew coming here was gonna be worth it in memes.

>>7414395
Yeah, the mental gymnastics here to save their hopes are fascinating

>>7412194
I think you're seeing it wrong.

What you should look at mostly is the valuation of projects and compare them to the real world. F.e. How much, with the businessplan he wrote, would a guy like Justin Sun have gotten if he did a VC round in Silicon Valley for his TRON project. 10 million at most, realistically they would have told him to hit the road. There are tons of projects like that, hugely inflated bubbles. If BTC becomes gold it's not a bubble. But 90% of the top 100 tokens are...

>>7414425
or maybe, just fucking maybe, there are no regulations in this market to protect investors from ponzis and shady exchanges which is exactly what bfx/usdt is.

I'm going to keep waiting on news. I won't be selling on "audit tomorrow". But when anything official happens, if I don't like what I'm hearing I'm not going to be the last one hodling. And if/when I'm out I'll have time to rethink when I want to reenter.

Ok maybe i'm missing something but where's the actual evidence that tether itself is buying bitcoin?. Tether gets printed, people buy tether with dollars and then they buy bitcoin with tether. Even if tether implodes this is not going to be the apocalyptic scenario you guys are painting

>retards come out of the woodwork with the need to convince others that it isnt over yet
this is how i know its over.

>>7414354
>Bitfnx starts printing out Tethers
>Market believes this is real people buying the tethers

This is so easy to demonstrate false, yet nobody has. As simple as creating a chart comparing demand for Tether with circulating supply.

You're basing your conclusion on false premises.

>>7414354
Bitfinex issues tether to other exchanges you dipshit
Do you seriously think they are just market buying for themselves?

>>7410657
this bubble is made of steal

Also every major exchange lists tether. You think at least ONE would have distanced themselves by now, right? So much fucking speculation in this thread

>>7414564
So if there were no regulations that prevented you from food poisoning you think all restaurants would poison their food?

I can tell you guys have never done anything in your life when you have this view of how business and wealth are built upon. Exit scams are small game, no fucking exchange is going to trust their business on the faith that nobody will call Tether out if they really are defrauding.

>>7414741
ahahahhahaskjdhafsl;kjfadf lmfao!!!

yeah i would, you know why? because its already happened. go read the jungle dude, business dont care about you. once a restaurant figures out it can cut costs by buying rotten meat or horse meat AND sell it at the same price AND not get sued(lol all regulations are gone) they will all adopt that strategy. zero regulation capitalism is a race to the bottom

>>7411313
ahem.

>>7414843
Yeah, people would love to eat at a restaurant with 0 tripadvisor stars and people getting sick constantly in the media.

There's nothing more profitable than being legit when everyone around you isn't.

>>7414738
kraken you can short the usd/usdt and there has been significant amount of wash trading between the two.

every major exchange hosted real estate derivatives. does that mean they are top notch, nothing wrong investments?

>bitfinex gets suspended on twitter
>this thread appears
top gigakek

>>7414909
except being legit = more cost you fucking idiot.

we have already gone through unregulated capitalism phase in the 1800s and it was pretty fucking ugly for everyone involved(except the owners). you libertarian fucks keep repeating what you think is logical in this fantasyland youve created while ignoring all past evidence against the same statement.

>>7414961
>we have already gone through unregulated capitalism phase in the 1800s and it was pretty fucking ugly for everyone involved(except the owners).

Yeah, going from 40 years life expectancy to 60 under 3 decades, reducing sickness, pests and hunger must have been terrible for all that people.

Fucking commies talking economics, I could tell the moment you related printing to economic growth and perception of value.

>>7415038
lmao with government run and funded studies? you mean all the medical device and pharma companies absurdly pricing everything through the roof for no other reason than they can?

speak to the point. why were there fingers in peoples meet in the 1800s?

>>7410690
/thread

>>7415279

/thread? Those things were all in bubbles at some point or another.

>>7416245
Someone obviously sold on the dip. Fuck outta here you smelly slave nigger.

>>7415038
friendly reminder that your austrian school of economics caused the great deflation and depression