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/biz/ - Business & Finance

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4447101 No.4447101 [Reply] [Original]

>Oh look, bitfinex minted 50 million more tethers while I was asleep

>> No.4447137
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4447137

>>4447101
stay out of my wallet addresses goy. Im trying to exit pump BTC here

>> No.4447144

>>4447101
btc moon incoming?

if my alts bleed again I will cut you

>> No.4447155

>>4447144
yes btc moon. cme launches tmrw

>> No.4447173

>>4447155
if every nikka is waiting for it and the news are underwhelming maybe it will dump. I will stay in usdt

>> No.4447182

>>4447101
>i got meme’d into believing conspiracy theories on twitter

>> No.4447192
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4447192

>>4447173

>> No.4447194

>>4447173
good point, it might be sell the news, but also think of the dumb (with respect to crypto) money from traditional markets

>> No.4447200

>>4447182
>I got memed into believing that thinking that any powerful entity with the incentives to do wrong will never do wrong and I should claim that anyone who presents reasons to believe so in any specific case is a nutjob

>> No.4447201

>>4447192
what's so funny faggot?

>> No.4447202

>>4447101
naw last one was 2 days ago

https://omniexplorer.info/default.aspx?filter=grant

>> No.4447219

>>4447173
also come on man, don't sit in USDT, that's a recipe for FOMO. at least hedge into ETH or LTC

>> No.4447221

>>4447101
>I believe some random twitter user that's been going through a psychotic break for months after losing thousands of dollars for being a lame trader.

>> No.4447269

>>4447221
Every shitcoin that gets listed on bittrex gets pumped sky high shortly after, all in the same pattern that's correlated with new tether mintings.

>> No.4447288

>>4447269
Sorry *bitfinex

Freudian slip

>> No.4447289
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4447289

>>4447101
so it's a scam based on fiat money, which is itself a scam

>> No.4447302
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4447302

>>4447201
>rumour has it usdt is toast
>you keep on accumulating
Goy...I...

>> No.4447319

>>4447269
Supply of tether is expected the grow as more money comes into the crypto markets. How is this surprising?

>> No.4447370

>>4447319
The fact that btfinex is issuing more to themselves than their pre-tether market cap while also having been blacklisted by their banks. How in the fuck are they supposed to back it up with real dollars? They're exchanging monopoly money for real crypto.

>> No.4447535

>>4447370
You can exchange it for btc at btcs current usd rate. Just convert usdt to btc to usd. Theyre simply using tether as a way to not have to have a bank, knowing full well yoi can easily xfer btc to another exchange (ex. Coinbase) and cash out to usd. If btc is crashing and you want it in fiat real quick but its on an exchange that isnt able to change it to usd due to fucked up banking terms, but can put it in a mirror currency that acts as usd, and later can be used to purchase btc once its movement is over and xashed out into usd on a more regulated exchange, youd appreciate it.

Usdt is nothing but a mirror for usd because they simply cant provide that service. So theyre giving next best thing.

>> No.4447600

>>4447535
You're retarded aren't you? The whole reason it's a dollar replacement is that you can exchange it for reserve dollars at a 1:1 rate, like you used to be able to do with real USD and gold back in the day. Except tether isn't actually backed up by anything, which poses a systemic risk to the entire crypto market when people realize that bitfinex was lying about being full reserve.

>> No.4447665
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4447665

They're using their own magic internet money (USDT) to buy up and pump the price of other magic internet money (BTC and altcoins). Then they can sell the magic internet money on other exchanges for real money. Sounds like a good business

>> No.4447687

>another low IQ FUD thread

>> No.4447745
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4447745

>>4447665

>> No.4447748

>>4447200
You’re right, the earth is flat, we never went to the moon and climate change don’t real

>> No.4447771

>>4447600
>except tether isn’t backed by anything

Did you learn this from a tweet you moron?

>> No.4447841

>>4447745
I've always wondered why the coin founder wouldn't give himself a load of them, is it impossible to do in regular crypto without being caught?

>> No.4447920

>>4447771
You deserve to lose your money if you think that bitfinex can back more tethers than their market cap while also being cut off from their banks. Enjoy getting Gox'ed.

>> No.4447973

>>4447920
show source

>> No.4448109

>what is a public ledger

>> No.4448248

>>4447973
Check coinmarketcap. Do you honestly believe that bitfinex acquired enough USD over a couple months to back 678 million dollars of tether and counting?

>> No.4448326

Don't treat usdt like actual dollars.. you can't withdraw it and have paper money