USDT

[Anonymous No.11277664]

I'm sure this is going to end well
which stablecoin should I switch to?
https://ambcrypto.com/tether-usdts-primary-reserve-bank-has-been-struggling-financially-sources-say-theyre-desperate/

[Anonymous No.11277673]

>>11277664
geminis or just use the real dollar. Real dollar exchanges are the only true way out if tether goes boom.

[Anonymous No.11277692]

oh shit i'm scared now

[Anonymous No.11277718]

Fuck it, I'm buying TUSD on Binance right now. At least they've been audited.

[Anonymous No.11277726]

NO NO NO

[Anonymous No.11277840]

If you think those wetbacks have three billion dollars of liquid assets in this building with no security you're out of your mind. I'd be surprised if tether is worth anything, let alone a three billion marketcap

[Anonymous No.11277866]

>>11277840
What does it matter if they have the money or not? The market gives it value. Unless the US government is actively pursuing them, it doesn't matter. After all, regular banks are only required to keep 10% of their assets in reserve.

[Anonymous No.11277869]

>>11277866
>The market gives it value
not for long

[Anonymous No.11277892]

Reminder that Tether is the 2nd most traded crypto by volume

[Anonymous No.11277893]

>>11277664

Why use tether anyways, bitcoin is a stablecoin now, just use that lol.

[Anonymous No.11277901]

>>11277866

Yea I don't get it really, why does Tether needs dollars behind it?

[Anonymous No.11277919]

>>11277892
If they can't keep up the facade tether is going to go to zero faster than bitconnect. Might happen after BTC crashes and people start asking for their money

[Anonymous No.11278801]

>>11277664
bears will be blasted by this.

[Anonymous No.11278825]

>>11277664
Seems like bitfinexed got his paycheck from gemini again.

[Anonymous No.11278849]

So wouldn't this pump bitcoin?

[Anonymous No.11278964]

>>11278849
No.

[Anonymous No.11278980]

>>11278964
But people panic selling their USDT into btc?

[Anonymous No.11279023]

>>11278980
You don't get it dude NO ONE is going to buy tether from you if it's worthless overnight and you will be the exact same situation that Bitconnect bagholders were in 8 months ago

[Anonymous No.11279026]

>>11278980

BTC/USDT pair would moon beyond your wildest imagination. 50-100x premium on the USDT pair.

[Anonymous No.11279137]

>>11278849
Bitcoin and Altcoin would be more or less unaffected or only implicitly negatively affected in the long run since potential buying power just evaporated.
At some point USDT will just be unable to hold the USD peg.

[Anonymous No.11279210]

lets say tether is fucked. people who hold tether cannot sell it at ANY price because no one would buy it. price of bitcoin would stay the same. tether holders would lose everything.

[Anonymous No.11279216]

>>11277664
btc

[Anonymous No.11279224]

>>11279210
>What is liquidity
Tether is traded against a lot of things. Anyone holding Tether would be JUSTD but BTC as a whole would dump as people try to escape the market.

Tether has a lot of volume and has a rather large effect on the price of pretty much everything. It would be catastrophic.

[Anonymous No.11279256]

Notice how all outlets are putting this out of the blue at the same time with a bunch of no source articles and "tether insiders" (bitmex) being cited. It started from a completely unknown website and grew very quickly from there.

Tether stopped banking with Noble. They've diversified to other banks, but are pushing out fud to create uncertainty until they announce it. This'll help them achieve two things:

1. Gerate a neat profit from people selling their usdt for cheap against other stablecoins. Once they've enough, they'll fix the peg on kraken and everything gets back to normal leaving them with a neat profit.

2. Get more people to open shorts (on bitfinex ironically) so they could use it as juice for a squeeze later. It's too risky to bart down at this point and trigger algos. That's where their hidden walls come into play.

[Anonymous No.11279352]

just buy Dai, faggots

[Anonymous No.11279403]

The only cucks that would be justed by tether would be the people holding it.
Everyone else would still have their crypto or real USD on fiat onramps.
No one would sell into tether trading pairs and they would be delisted.

All the cucks tethered up right now would be wiped clean and all the bot action would move to an alternative stablecoin.

Why people think this would lead to a Bitcoin and alt selloff is beyond me. All of the biggest players that fed you your worthless tether now hold a massive chunk in crypto with zero liability to swap it back.

Think of it like a stock split but without the value adjustment ,moving to smaller total number of shares , and the stock is the entire crypto market. Everyone on the winning side of the stock purge are in a pool of assets that after being halved in supply , and naturally their value will increase.

[Anonymous No.11279452]

>>11279403
>Why people think this would lead to a Bitcoin and alt selloff is beyond me. All of the biggest players that fed you your worthless tether now hold a massive chunk in crypto with zero liability to swap it back.
are you actually retarded?

[Anonymous No.11279467]

>>11279403
Imagine for a second that Tether isn't actually backed by anything and that Tether has had a positive effect on the price of bitcoin and has been used as buy support.

What happens nearly 3 billion dollars in buy support that could otherwise not leave the market suddenly vanishes? How sure are you of the price of a bitcoin when you don't know how much of it was due to to tether?

[Anonymous No.11279569]

>>11279467
You have to stop thinking about the structured buying and selling and look at it from a core economics perspective. Imagine the entire crypto sphere as bitcoin being the USD and everything else being countries shitcoins, including tether. The failure of that currency in an instant removal instead of a gradual hyperinflation is bullish for all of the BTC paired derivatives . Tether is not buying support, it is simply another paired derivative of BTC.