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/biz/ - Business & Finance


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25739278 No.25739278 [Reply] [Original]

So you're telling me institutional investors send their clean money to an offshore bank account of an unaudited company who nobody knows who really owns it in exchange for monopoly money (USDT) to buy BTC. Instead of asking Coinbase, a respected vendor who can hold BTC for customers in a secured vault which clears USA legalization and is about to IPO? How do the institutional investors even get their BTC from USDT?

>> No.25739338

>>25739278
Yes. Now buy some more, we're going to 50k soon.

>> No.25739345
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25739345

>>25739278
Institutional investors bought before november when BTC was under $10K, the printing that inflated BTC started then. Institutions won't be rugged because they keep their BTC safe away from exchanges. Users and traders will get the short end of the exchange stick up their ass.

One week left maximum.

>> No.25739352

>>25739278
Who the fuck are you talking to schizo?

>> No.25739362

Coinbase doesn't have enough to sell them you stupid fucking mong. How is this hard to understand. Coinbase has a minuscule amount of volume and are basically nobodys in the grand scheme of this entire industry

>> No.25739389

>>25739278
>What are taxes
There's a reason they do it this way. Use your fucking brain.

>> No.25739415

>>25739278
Tether is audited, when will your fudlets learn

>> No.25739437

>>25739345
How do institutions store their BTC? You really think someone holds the private keys there? An employee? The moment he realizes he can funnel them out and say his computer was compromised, he will depart to Bali or some Venezuelan hole. I doubt institutional investors who barely operate Excel know how multisig works. So tell me, they buy USDT from tether. Supposedly. Where do they get their btc from? And why is the tether never burned?

>> No.25739451
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25739451

>> No.25739509

>>25739362
Coinbase Pro does 1.4B in trade volume. Whenever they want to buy from Coinbase they internally just buy from Pro. So let's be reasonable and say buy/sell is 50/50. That means there's 0.7B worth of BTC for sale every day Coinbase can tap into. Every day.

>> No.25739514

How much money in BTC is even from USD, originally? You can buy Bitcoin in Euros, Yen and with some tricks even Yuan. Why the fuck is this shitcoin affected so much by a single FIAT?

>> No.25739625
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25739625

>>25739514
>How much money in BTC is even from USD, originally?
Used to be 80-90% back in 2017, now fiat is less than 15%. It's all fake dollars.

The SEC has proof of Tether/Bitfinex scammers panic chats over BTC plummeting.

Read and you'll be creeped out:

https://en.wikipedia.org/wiki/Bitfinex
https://en.wikipedia.org/wiki/Tether_(cryptocurrency)

>> No.25739677

>be chinese millionnaire
>send 300M to Tether
>market buy BTC at 40K

seems legit

>> No.25739682

>>25739625
any second now bobo, any second now!

>> No.25739890

man i really dont know what to believe. and i dont care anymore

>> No.25739979

>>25739278
Well you are obviously a fucking retard. Stay poor!

>> No.25740020
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25740020

>>25739890

I'm going to redpill you with the truth.

1) USDT is a scam. There is zero (ZERO) doubt about it.
2) Point #1 does not matter. It is a bootstrap: by maintaining the illusion of it being real, Tether has survived long enough for one big change...
3) Real institutional money is coming in, and they are not playing small. Grayscale, Circle, Coinbase are all influential and loaded with investory money. They all know Tether is a scam. It doesn't matter: what matters is the price of BTC. By selling the narrative of "store of value" successfully, BTC has been adopted as a reserve asset in real life.
4) The price of BTC is going up, and because of that big companies with real fiat are buying in. Ironically, this makes it "real".

BTC-USDT is like Tupperware. It started as just another scam, but generated enough true believers to graduate into something 'real'.

Gold will be replaced. There is no doubt in my mind. It's an equally stupid store of value, and its price is actually DROPPING right now.

Do yourself a favour and just buy in. This shit is going to 5-10x in the next five years.

>> No.25740140

Guys, do i undertand binance will bust?