/biz/ - Business & Finance

[Anonymous No.13490623]

Guys, what is going on with Tether and Bitfinex right now? should I be scared? I had my money in tether trying to short the market and i decided to get out of tether in case some shit goes down.

I think the market will rise if shit goes down then drop astronomically once people realize tether is just fluff, But I am not sure if the market even cares that tether really is fluff, does it matter?

Will the market even respond to the tether FUD?

[Anonymous No.13490635]

up, down, then up.

[Anonymous No.13490653]

>>13490635
I Think up, down, stays down for a LONG time as people realize the entire crypto market is resting on a "stable" coin based off an already centralized FIAT, and see that our need for decentralized currency is really just a fallacy.

The only reason people are in it is to get rich, theres no real world use of crypto as of now

[Anonymous No.13490971]

>>13490653
The stablecoin is not the problem, the insolvency, wash trading, market manipulation and money laundering is the problem.

[Anonymous No.13491008]

>>13490623
pussy. tether is 100% backed by loans and assets.
Only 74% backed by immediate liquidity.
Plus they have ongoing litigation to recover the $800 billion.
This is much more than your bank has.
You should be in crypto cold storage not any of those things, though

[Anonymous No.13491075]

>>13491008
>Only 74% backed by immediate liquidity.
and that's assuming they are not lying

[Anonymous No.13491103]

Trade Tether for Bitcoin. Tether is as scammy as XRP.

[Anonymous No.13491420]

Won't alt stablecoins like TUSD or USDC fill the void if they have enough capital to back their coins?

[Anonymous No.13491427]

>>13491008
its 74% backed at BEST. The issue here isn't specifically tether, It's that the market doesn't give a shit that they are legit frauding them, which points to a much larger problem with the crypto market.

It's legitimately gambling at this point. No science, no facts, just throw in your money and hope that you get lucky. The lack of true economic science is staggering in the crypto market

[Anonymous No.13492050]

>>13490971
I completely agree

[Anonymous No.13492083]

>>13491427
>The lack of true economic science is staggering in the crypto market
Heres a fucking economic fact for you. If you don't have it it's not yours.
This fucks up your 401k, your bank account, gold notes and any other useless faggotry you are storing your money in.
Cold storage crypto is the only thing that makes economic sense.

[Anonymous No.13492150]

>>13491427
Moonbois are growing so tired of the bear market that theyre going to let a literal scam bail them out. That's how desperate they are.

[DarkTrip !nNThBA7CKU No.13492171]

>equivalents

[Anonymous No.13492345]

>>13492083
Those are at least regulated. The world financial system is not perfect, and trusting the established financial system has its downsides, but simply relying on decentralization and and unregulated marketplace to fix these issues fucks everyone.

The people, like you said, making the true gains are those able to manipulate this market and fuck everyone else. Some normal people get lucky and get rich, but the gains are vastly in the hands of conmen, who are actually MUCH dumber than the ones currently in charge of the current world marketplace.

Crypto allows people to dumb to scam in the real world the opportunity to scam. Tether and pretty much every coin is a scam. Even coins with real potential use. Why create fucking coins in the first place??? Because their idea isn't viable in the current tech world. Nobody likes them, so they go after normal people like us to make their money

GET OUT OF CRYPTO YOU FUCKS. IT'S NOT GONNA END IN YOUR FAVOR

[Anonymous No.13492386]

>>13492345
It's not your money unless you own the only access point.
Ask anyone who has ever been in debt to the irs or been through a nasty divorce.
They will take everything from you before you even have a chance to speak up. And they will profit from it.