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/biz/ - Business & Finance

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25356119 No.25356119 [Reply] [Original]

Long time BTC purist. Thought Tether was under control but latest $20B printing spasm (which cannot possibly be backed by US dollars) has driven BTC to the current highs. Tether going to be wiped out by the NY AG investigation ... asset seizures, frozen accounts and principals (if they can be identified and found) will go to prison. Tether-based crypto exchanges will implode. Going to be ugly. Get into cash and move that cash to a real bank. BTC will be back after that, better than ever, but the blowout is going to be very painful if you hodl.

The XRP case is only going to make it worse. The market is going to take a serious beating.

>> No.25356158

How new are you?

https://twitter.com/pat_jane_crypto/status/1344673896675618818?s=20

>> No.25356192

>>25356119
What about usdc?

>> No.25356240
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25356240

>>25356119
>load ze tether foud

>> No.25356295
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25356295

>>25356119
He thinks 2017 FUD will work today.

>> No.25356385

>>25356119
If that happens, I’ll buy more on the cheap. I’m not selling now so if it doesn’t, I’ll be fine. Either way, I’m good.

>> No.25356396

Long time listener, first time caller here. Bitcoin will crash because of Tether. I've said this now for the last 23 years and no one has listened to me.

>> No.25356421

>>25356158
New. Hardly. Just cashed out a 280% gain.

Thanks for confirming I am totally correct though.

Hodl and fudstruggle at your own risk people.

>> No.25356580

>>25356192
Other stablecoins are not going to help what is coming. The Tether fraud is too pervasive.

The fudspiracists will claim it is all a fudspiracy. Until it isn’t.

>> No.25356596

>>25356421
They said this back in 2017. It won't happen.

>> No.25356655

Tether is backed by bitcoin which is backed by boomers fomoing in each halfing.

>> No.25356911

>>25356596
Tether wasn’t being chased by the NY Attorney General in 2017. The printer is going to be unplugged this time. All bad scenarios follow from there, and with no new Tether pumps, the market will correct.

>> No.25356977
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25356977

I have alot of Tether lying around in Wallets and Exchanges, should i sell it for Fiat

>> No.25357121
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25357121

>>25356655
>>25356911
>>25356977

>> No.25357155

>>25356977
Yes, and wouldn’t leave the cash on any Tether exchange.

Even using Tether to buy back into BTC and then moving the BTC into a wallet would be better than holding Tether, or holding anything on a Tether exchange. BTC will always be worth something. Tether is totally fraudulent.

>> No.25357201

>>25356119
I think its possible to tether to keep getting away from this kek

>> No.25357309

So should I be trading with a different stablecoin pair on Binance? Should I just be doing BUSD?

>> No.25357334

>>25356911
How do you reconciliation the fact that companies are literally buying billions of dollars worth of BTC and publicly disclose it? Do you have a sense of cognitive dissonance when you realize none of them bought with tether or ever cashed into tether? Is there a chance that there are actual buyers in this market or is your tinfoil hat too thicc?

>> No.25357389

>>25357155
It's laying on the exchange for trading and convenience, buying BTC also wouldnt be the smartest because when USDT crashes it will also rekt BTC (at least in the short term)

>> No.25357413
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25357413

>>25356158
seems like a guy who knows his stuff

>> No.25357442

Pretty sure you're wrong because the only thing that really needs to back tether is someone's willingness to buy it for a dollar much like the actual dollar...

>> No.25357538

>>25357389
oh, so just what do you expect people with large USDT holdings to do, assuming they can't exchange them for real USD on an exchange or from Tether?

honestly this Tether FUD is pretty tiresome. It's the same nocoiner argument that's been going on for years now, because they're salty they missed out on the moon mission. Might as well say "backed by nothing" or some other retarded nocoiner drivel

>> No.25357814

>>25357538
The real question here is if tether gets sued or whatever will it crash, desu I also think this is FUD but I stocked up a ton of Tether because I wanted to buy the next big dip

>> No.25357878

>>25357334
I don’t have to reconcile that ... you do. I and everyone other long in the market are the beneficiaries of this $20B Tether pump. No sane person would believe the move from $8000 to $28,000 was “organic”, after knowing the $20B Tether infusion happened. It is what it is. It happened already. The only question is what risk do you feel is worth taking now.

>> No.25357971

>>25356119
With that group. I'd say you own an Anderson or a PSA and shouldn't be projecting BTC.

>> No.25358252

>>25357538

All of crypto is backed by nothing, tardo.

>> No.25358430

>>25357878
I have accepted that there are $20B worth of buyers. Have you?

>> No.25358466

>>25357878
>do. I and everyone other long in the market
Also, you had years to buy, larp bucket

>> No.25358920

>>25358430

That's not the issue. The issue is, Who is fronting tethers supposed cash reserves? What high net worth individuals or companies are going to park their money in an asset that literally cannot and does not appreciate?

>> No.25359070

>>25358252
you had 12 years

>> No.25359134

>>25356119
Institutions aren't buying BTC with USDT
Take your FUD back to 2017

>> No.25359173

Oh no they are going to ban tether from exchanges like XRP, and then bitcoin will crash just like when XRP was banned from excha... oh wait.

>> No.25359198

>>25357413
HAHAHAHAHAHAHAHA

>> No.25359331

>>25359173
But BTC is dependent on Tether, while it had no direct relationship with XRP

>> No.25359338

>>25359134
yes but even just the announcement that some American bureaucracy is going to be targeting tether is going to spook the market which could cause a big dump

I don't know if op is right or wrong but I see a big overreaction to some bad news as very plausible

>> No.25359345 [DELETED] 

>>25356119
Start using Coinmetro, and buy as much of their their XCM token as possible before it's too late.
That is my response to the op and this thread.

>> No.25359400

>>25356119
Former btc supporter here. It's been hilarious watching it crash and burn. But seriously, we can't let it get ahold of the hash rate.

>> No.25359454

>>25359338
I'm going to do a gigantic dump in your mouth

>> No.25359463

Start using Coinmetro, and buy as much of their XCM token as possible before it's too late.
That is my response to the op and this thread.

>> No.25359478

>>25359463
brown hands typed this comment

>> No.25360145

>>25357155
What exchange is safe if I can't cash out?

>> No.25360192
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25360192

>>25356119
noooooo but but but Satoshi backs tether

>> No.25360210

>>25357878
Was the move from 100 to 2k organic? What about the move from 2k to 20k?

>> No.25360657

>>25356158
I don't really get some of the talking points.
Most people use tether over other stable coins cause it's ok big exchanges. On uniswap most people use other stables.

Also what's with the tether pumping btc talking points?
Isn't that relation obvious as tether gets printed as new money enters crypto and pumps btc?

>> No.25361555

>>25356119
>Tether-based crypto exchanges will implode. Going to be ugly. Get into cash and move that cash to a
No one cares. No is buying tether to access usd reverses. Besides when tether unpegged $1 a while back the market reacted by pumping everything as people sold tether for btc. Binance and coinbase have zero obligation to honor tether so if it blows up it means nothing to them.

>> No.25361879

>>25357878
>No sane person would believe the move from $8000 to $28,000 was “organic”, after knowing the $20B Tether infusion happened. It is what it is.
Now tell me how a $20 billion infusion increased the market cap of BTC by $300 billion. I'll wait, and anon, I need you to show your work on this one, it's important.

>> No.25361968

>>25356295
It will anon. This FUD never got settled. Hence why they are uncertain and doubtful.

>> No.25362006

>>25361879
I don't believe that a Tether collapse will destroy the market like him, but market cap is a fucking meme.

>> No.25362148

how it works, for the retarded:
>bitfinex prints tether
>claims 1:1 parity with the usd (this is a lie)
>use tether to buy bitcoin
>drives the price up
>cash out the btc for USD
>exchanges like it because they make money and have fake liquidity through tether (they don’t have their actual supply of bitcoin either)
so in theory if bitfinesse were to have their accounts frozen, you’d have every person who owns bitcoin stampeding for the exits...at 7 transactions per second