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/biz/ - Business & Finance

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25275684 No.25275684 [Reply] [Original]

>SEC suing ripple for 1.3 bil in CIVIL COURT over something that literally no other country agrees with
>OMG XRP IS DEAD SELL YOUR BAGS
>Bitfinex/Tether in a fucking federal RICO trial for 1.6 trillion
>Everything is fine, ignore the fud
what is wrong with you people? I seriously wonder what the fuck you think is going to happen. The SEC is clear dog and pony show, but NO ONE has escape a RICO trial. Tether is cooked, and BTC is going down with it.

I don't even think you guys truly appreciate the difference between 1 billion and 1 trillion. To put it into perspective, the Tether case is equal to 1200 of the Ripple cases. They're FUCKED and BTC maxies will go down in history as the greatest bagholders of all time.

>> No.25275718

newfag here, explainpill me on btc going down with tether please

>> No.25275722

>>25275684
>Tether is cooked
could be
>and BTC is going down with it.
lol no

>> No.25275724
File: 172 KB, 1200x892, Bitcoin.jpg [View same] [iqdb] [saucenao] [google]
25275724

>>25275684
See pic related? That narrative will turn out to be a hoax.

>> No.25275733

>>25275684
you absolute dumbshit pruned brain,
tether is not needed, just switch to USDC or TUSD or many other trusted ones

>> No.25275744

>>25275684
This is getting embarrassing for you xrp schizos, just admit it's over for your scam.

>> No.25275755

Tether is obviously fucked but do US exchanges even use it?

>> No.25275772

>>25275684
Here is a (You).
Enjoy!

PS. I've never used USDT and I never will.
I use DAI.

>> No.25275777

>>25275744
kek. /biz/ should rip on xrp nogs to the max.

>> No.25275810
File: 396 KB, 943x1250, 1608537293929.jpg [View same] [iqdb] [saucenao] [google]
25275810

tfw XRP and USDT dropping out of top 10 means LINK will be moving up 2 spaces towards its rightful rank of #3

>> No.25275813
File: 1.19 MB, 325x252, GeneralCompleteGemsbuck-size_restricted.gif [View same] [iqdb] [saucenao] [google]
25275813

>>25275718
Tether is 60% of BTC's trading volume. The case is alleging(with more than 100 pages of evidence) that Bitfinex is printing tether without any USD backing it to artificially pump BTCs price.

>>25275722
Losing 60% buying pressure + consumer confidence is not something you recover from.

>>25275724
It's already proven.

>>25275733
You don't know what you're talking about. BTC's price only remains what it is because people keep buying it. It turns out that no one was buying it at those prices, it was bitfinex(and some others) using tether to create artificial price floors.

>>25275772
>i have never used USDT
Doesn't fucking matter. BTC only has investor confidence because fake USDT pumps

>> No.25275829
File: 744 KB, 240x184, A7280E0B-919C-49B9-AD4D-CA324A36C454.gif [View same] [iqdb] [saucenao] [google]
25275829

>>25275684
Wtf does Puerto Rico have to do with this?

>> No.25275897

>>25275813

why would microstrategy be buying so much btc if tether is about to come crashing down, dragging btc with it?

>> No.25275931
File: 153 KB, 1200x948, 1582149153608.jpg [View same] [iqdb] [saucenao] [google]
25275931

>>25275684
tether going away is actually bullish for bitcoin tho, as it would literally get rid of the derivatives market, making it a lot harder to manipulate price. This would be a green light for institutional investors who are still on the fence about buying it due to fears of market manipulation.

>> No.25276010

https://www.courthousenews.com/wp-content/uploads/2020/01/Bitcoin.pdf
Is this it?

Either way I learned from wolf of wallstreet that rich people always get away with it.
And they are filthy fucking rich now.

>> No.25276045

*yawn*

>> No.25276090

>>25275813
60% buying pressure AHAHAHAHA
please, tell me more

>> No.25276092

>>25275684
El rap de Fernanfloo
El rap de Fernanfloo
El rap de Fernanflo Flo Flo Flo Flo

>> No.25276127
File: 38 KB, 649x138, file.png [View same] [iqdb] [saucenao] [google]
25276127

>>25275897
To create headlines to get dumb money to fomo into BTC at the top so they can dump their bags. The same way the mainstream media ALWAYS lets you know the next hottest gem of an investment well after its pumped.


Why is the SEC suing Ripple when the SEC runs an XRP node?

>>25275931
>as it would literally get rid of the derivatives market
I'm not sure if you know what derivatives are.

>>25276010
>rich people always get away with it
Pic related.

>> No.25276149

>>25275684
>Ripple Labs, Inc. - Headquarters: San Francisco, California, U.S.
>Bitfinex/Tether - British Virgin Islands
not US jurisdiction, not operating in US
suck a dick faggot

>> No.25276166

>>25276010
https://www.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.154.0.pdf
some wannabe daytraders who got rekt are crying about muh tether STILL in 2021

>> No.25276167

>>25275813
>Tether is 60% of BTC's trading volume. The case is alleging(with more than 100 pages of evidence) that Bitfinex is printing tether without any USD backing it to artificially pump BTCs price.

Objectively false. This would create gap between USDT and USD prices, which would inevitably cause the whole thing to fall apart. This does not happen thus you are full of shit.

>> No.25276177
File: 247 KB, 1073x996, Screenshot_20201226-123139_Gallery.jpg [View same] [iqdb] [saucenao] [google]
25276177

>>25275684
"N-N-NOOOOO!!!! IT'S NOT FAIR!!! B-B-BITCOIN IS GONNA GO DOWN TOO!!! I SWEAR!!!!" t. Every seething cRippletard that has posted this same fucking thread every day for the past week

>> No.25276181

>>25276127
>the SEC runs an XRP node
bullshit

>> No.25276191
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25276191

>>25276149
>not US jurisdiction, not operating in US

>> No.25276269
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25276269

>>25276167
>This would create gap between USDT and USD prices

>> No.25276292

>>25275813
>tether to create artificial price floors.
There is a lenghty essay you can find that makes the case that the 2017 pump was fabricated by just one trader in collusion with bitfinex. The analysis seems plausible. What i dont think holds up anymore is tether floats it all. How does grayscale buy btc? Is that documented anywhere?

>> No.25276314
File: 726 KB, 734x846, file.png [View same] [iqdb] [saucenao] [google]
25276314

>>25276181

>> No.25276332

>>25276292
Read the link here >>25276166 for yourself

>> No.25276352

>>25275684
> t. Coping rippletard trying to justify their bags

>> No.25276479
File: 384 KB, 750x422, file.png [View same] [iqdb] [saucenao] [google]
25276479

>mfw BTFO out of every counter argument and ignoring shitposts with no refutations

>> No.25276498

>>25276269

>There is no arbitrage of less than 1% between exchanges or trading pairs unless it's a scam

Lets talk again when you can show me a difference bigger than 5%

>> No.25276630
File: 151 KB, 680x680, Ec4UF7cU0AESMRQ.jpg [View same] [iqdb] [saucenao] [google]
25276630

>>25276498
You don't understand the claims being made. USDT is pumping BTCs price. Arbitrage bots then pump BTC/USD(C). The original Tether scammers then cash out the BTC for actual USD.

It's laundering, not only simple manipulation, and thats why this is a RICO trial.

>> No.25276762

>>25276630

So the arbitrage bots have to use real USD in order to buy the tether bought BTC from the "scammers". This just means they have to ijnect new USD into the system as they pump.

>> No.25276837

>>25276762
>>25276762
No, the arb bots use real USD to buy the overpriced BTC that was pumped by the fake tether. The fake tether is being washed via btc at the expense of BTC maxies

>> No.25276997

>>25276630
>The original Tether scammers then cash out the BTC for actual USD.
So... that would remove the price pressure originally created, because it would create sell pressure so they can cash out...?

>> No.25277010

>>25276837

What organisation is planning a RICO trial against Tether?? I can find anything about this on google.

>> No.25277058

>>25277010
>What organisation is planning a RICO trial against Tether
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

https://www.courthousenews.com/wp-content/uploads/2020/01/Bitcoin.pdf

>> No.25277065
File: 9 KB, 250x250, 1607459794416.jpg [View same] [iqdb] [saucenao] [google]
25277065

>>25276630
>nooo tether fake dollars are faker than fake fed unlimited dollars

>> No.25277077

>>25276479
top delusion & cope. neck yourself, xrp fag.

>> No.25277083

>>25277065
In a RICO trial, yes that is 100% the case and no amount of greentext or funny memes will change that.

>> No.25277176

>>25277058
>>25277083
it's a civil suit, stop trying to make it sound like more of a big deal than it actually is

>> No.25277229

>>25277058
>https://www.courthousenews.com/wp-content/uploads/2020/01/Bitcoin.pdf
I looked at the document, the plaintiffs are:
Eric Young, Adam Kurtz, and David Crystal
They are traders who are butthurt because they bought high and sold low
It's not UNITED STATES DISTRICT COURT SOUTHEN DISTRICT COURT NEW YORK COURT DISTRICT LORK YORK PORK GORK COURT DORK

>> No.25277232

>>25275684
posted a thread about it at night, nobody listened
>>25261576

>> No.25277244
File: 34 KB, 427x416, yTU71R8.png [View same] [iqdb] [saucenao] [google]
25277244

>government losing control over economy
>sue everyone
god bless america

>> No.25277304

>>25275684
lol Tether's money printing isn't going to change the fact that everyone in the world is trying to get their hands on BTC. It will not affect Bitcoin.

>> No.25277307

>>25276314
Lol.... few things.
The SEC ran a node to build the legal case against XRP. The SEC cannot build a viable case without understanding the source material.
>>25275813
To summarily blow away any tether fud:
From February 2018 to July 2020, Bitcoin price started and ended the period at $11k, while the supply of stablecoins increased from $2B to $11.5B. Tether increasing from 2.2B to over 10B.
https://formula-builder.coinmetrics.io/#244
If the creation of stablecoins somehow supported the price of Bitcoin, why was its price unchanged as the supply of stablecoins increased by 400 percent?
(You), fixated on Tether, have no answer for this question.

>> No.25277317

>>25276837

The USD price IS NOT pumped by tether. The USDT price is pumped by tether, in this scenario. Is there something wrong with your brain?

>> No.25277363

>>25277317
Holy shit you're actually retarded. Think really hard about the relationship between the price of USDT and USD.

>> No.25277428

>>25276167
It works because
1.) Nobody is actually trying to redeem their Tether for USD from Tether Limited.
2.) Tether Limited is not even obligated to redeem your Tether for USD according to their ToS.

>> No.25277590

>>25277428
You're not understanding the national security implication if chinese black money can use USDT to get clean dollars.

>> No.25277612

>>25276127
XRP node?

>> No.25277687

>>25277590
I haven't even gotten into the geopolitical ramifications of this whole thing yet. BTC maxies tend to not understand that having 60% of the hashrate controlled by 4 miners (AcKcHuAlY it's 4 mining POOLS - btc maxie) in china is a bad thing for the rest of the world and also defeats the entire decentralization argument.

>> No.25277874

>>25277363

Your scenario makes no sense because there would be equal sell pressure on Bitcoin as there is buy pressure. We can look at TOTAL amount of Tether in the market and compare it to Bitcoin.

20 billion in TOTAL amount of Tether. Bitcoin is a 45 billion dollar volume currently and the market cap is five HUNDRED billion, 25 times the market cap of Tether. In the last 6 months, we have 10 billion in Tether created, we have an appreciation of of hundreds of billions.

Your numbers make no sense. The increases in Tether supply also do not correlate with explosive growth in Bitcoin prices.

>> No.25277910

>>25277687
>AcKcHuAlY
xrp schizos are hilarious as fuck lol

>> No.25277959

>>25277874
Yeah.. he is not interested in the truth:
>>25277307

>> No.25278047
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25278047

>>25277874
The scam isn't tether pumping the price. The scam is enormous buy walls of fake tether holding the price at fake floors, spurring fomo from dumb money.
pic related, just fucking read the lawsuit for yourself and then start asking questions.