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File: 6 KB, 200x200, tether.png [View same] [iqdb] [saucenao] [google]
4456368 No.4456368 [Reply] [Original]

You guys do know Tether has no obligation and WILL NOT exchange a USDT to a USD in the event of a crash right?

Tether is a ponzi scam and BTC/bitfinex will be ruined when it's exposed.

>> No.4456419

>>4456368
https://hackernoon.com/the-curious-tale-of-tethers-6b0031eead87

>> No.4456537

>>4456368

What's up with the SATURN RING??? logo

is this a not (((they))) unfriendly coin?

>> No.4456630

>>4456368

so I am buying tulips after all

>> No.4456706

>>4456368
good. i'll scoop all my delicious alts and bitcoin crash at a very low price

>> No.4456720

pajeet makes a coin called USDT
claims its worth $1 per coin
buys lots of bitcoin
smart pajeet

>> No.4456735

>>4456537
That's an anal orifice symbolizing how tether will fuck everyone's ass

>> No.4456740

>>4456735
this

>> No.4456765

>>4456630
There's a reason why its symbol is a T.

>> No.4456783

oh look the bch fudsters are back

>> No.4457782

>>4456368

I just want to know what happens when this thing blows up: Pick all that apply:

1) Bitfinex goes poof, anyone who has money on Bitfinex is screwed

2) Tether goes poof, anyone who has Tether tokens has literal bags

3) Bitcoin price crashes

4) Other exchanges that trade Tethers are affected (Bittrex etc.)

5) End of crypto

1-2 seem obviouslty true. 3 I think? What about #4 though? That's the one I'm mostly asking about.

>> No.4457806

>>4457782
If btc crashes, its taking all of crypto with it. Theirs going to be a few outliners here and their, but its going to be a bloodbath

>> No.4457831

i'll be the first to donate a few dollars to "Back up" USDT if idiots like you think that it matters whether or not it has a dollar backing it.

it's not worth crashing the entire market and entering a 2 year nuclear winter

>> No.4457833

>>4457806
There is no way you can put the cat back in the bag. Crypto will have a massive crash at somepoint thats for sure, but at the end those with Iron hands who were smart enough to choose that which will rise from the ashes will be rewarded. There is not getting off this ride or going back.

>> No.4457838

BTC IS GOING TO BE LISTED ON CME, YOU FAGS!
SCAMCHANGES LIKE BITFINEX ARE TRYING TO HIKE THE PRICE UP BEFORE THE INSTITUTIONAL MONEY POUR IN.
FUCK TETHER!

>> No.4457839

>>4456783
>bch not mentioned once in thread so far
>YOU GUYS ARE BCH FUDSTERS

>> No.4457875
File: 31 KB, 267x400, 1110423.jpg [View same] [iqdb] [saucenao] [google]
4457875

>On the Jews and Their Lies
Pick up a copy, it might save your portfolio.
https://www.goodreads.com/book/show/1110423.The_Jews_and_Their_Lies

>> No.4457888

>>4457833
Say no to drugs, kid.

>> No.4457942

>>4457888
It's just gin and vermouth, I'm not wrong though.

>> No.4457961
File: 7 KB, 250x201, 1510534054910s.jpg [View same] [iqdb] [saucenao] [google]
4457961

>>4457831
> largest exchange by volume wash trades BTC with car wash tokens that are not backed by anything

>doesn't matter

>> No.4458199

>>4457782
1,2,4
if you didn't think tether was fishy as fuck from the start, there's no helping you. als keep your coins in paper wallets, trezor, or bitcoin core wallet when you are not using them because exchanges get hacked.

>> No.4458225

>>4457806
ltc, eth, monero, dash, ripple and maybe a few other shitcoins have a chance of surviving if btc crashes.

>> No.4458282

Obvious FUD is obvious

Reminder to sage and report.

>> No.4458296

>>4456368

BTC price should go up then, right? I personally would rather have a BTC than Tether

>> No.4458419

>>4457838
You know the same institutional money can short the shit out of bitcoin with their endless stash of USD if they detect bullshit, right?

>> No.4458470

>>4456368
tethers business model is to allow you to peg your wealth to fiat without cashing out. they blatantly tell tether is not backed by usd

>> No.4458612

bitcoin will drop a good chunk from general uncertainty but most transactions have been earnest even at these price levels, there's far more holding the price up than just some conspiring wash traders
you can say good-bye to 2k gains a month but good fucking riddance, those were suffocating everything that wasn't bitcoin

shit like gox didn't kill it, tether won't

>> No.4458722

>>4456368
Stop listening to all the fud

https://medium.com/@SirLamboMoon/first-your-title-is-misleading-cf1afab0269f

>> No.4458947

>>4458470
no it lets them "exchange" btc despite being b& from fiat transfers.

if you can't see where this is going . . . thanks for the money. it's almost like most of you haven't seen this happen before.

>> No.4459249

UMM GUYS


https://twitter.com/Bitfinexed/status/932485858791493632

>> No.4459283

>>4459249
Page has been down for months.
Came back yesterday, they fucked up the numbers, now the page is gone again.

>> No.4459303

>>4458947
can you elaborate on that I don't get it?
If btc crashes it won't affect me

>> No.4459680
File: 163 KB, 663x520, TetherWhitePaper pdf.png [View same] [iqdb] [saucenao] [google]
4459680

>>4459303
Tether is blatantly not operating as it was originally described.

>> No.4459705
File: 7 KB, 290x174, download.jpg [View same] [iqdb] [saucenao] [google]
4459705

>>4456368
>tethers = ~$650 MM

>Bitcoin daily volume = $5 B

>mfw this thread again

>> No.4459734

>>4459705
If I see that bitfinexxed retard get shilled here again baka

>> No.4459765

>>4456368
tether is less than 1% of the bitcoin market cap.

>> No.4459789

>>4457782
>if tether goes poof

it's actually will put an buy pressure on BTC. People will pay any amount of Tether to get BTC so they get move out of exchange.

>> No.4459819

>>4459705
Tethers now ~650m
BTC price now ~8000
That can buy 81250 BTC.

So what if the price goes to $16k/BTC?
Then what happens when the 81250 BTC bought with the USDT above want's to sell... and their BTC is now worth $1.3 Billion?

Does the exchange take a 650m loss cashing them out? Or does the exchange then exit scam?

>> No.4459864

>>4459819
No, it's actually really simple. If there isn't enough Tether to buy the sell orders then the sell orders don't go through. The people trying to sell their BTC can't so you know what they do?

They move their BTC from Bitfinex to Bithumb/GDAX/Bitstamp or any exchange of choice and they sell for USD there.

>> No.4460408

tether is going to cause the collapse of exchanges.

>> No.4460495

>>4459789
Wouldn't the price discrepancy develop between Bitcoin on true fiat exchanges and USDT? For example, people with Tether buy Bitcoin for 9000 USDT, meanwhile there are less buyers willing to buy-in with USD for the market price.

>> No.4460518

>>4460495

Correct. >>4459789 is missing part of the equation.

People will be rushing to buy BTC at any price with USDT... but why would anyone accept USDT once it has started going poof?

>> No.4460549

>>4459819
Assuming every single BTC was exactly priced at $8000 and you could just buy every single BTC for $8000 but we all know that doesn't work.

For example there can be 1 BTC for sale at $8000, but 20 BTC for sale at $9000. If you want to buy 21 BTC, you would have to spend $8000 on the 1 BTC, and the price would change to be $8000 for 1. But wtf, there's no more BTC for sale at that price, so you would have to go to $9000 next.

The total for 21 BTC in that case is $188000 which averages to $8952 each BTC

This is why corecuck supporters have no idea about economics, and why Bitcoin Segwit Fee Market Blockstream Core Censorship Coin is doomed to fail eventually.

Also BCH will be enabled to have 50,0000 tx/s next year compared to BTC's 3 tx/s. Think about that.

>> No.4460588

>>4457806
>>4458225
LOL ignoring the obvious elephant in the room guys? If BTC crashes in this ensuing drama the surviving coin would be BCH, the original Bitcoin without Segwit, centralization, or censorship. Low fees, scalable, Satoshi's vision.

>> No.4460602

>>4460588
>being a btrash supporter

>> No.4460626

>>4460588
perfect pitch good sir cashie

I wish you best of luck. I shan't be investing any fiat but I do hold future bch on coinbase for btc that i have since liquidated. So technically I hold more bch than btc.

>> No.4460832

>>4460602
> First they ignore you (we're rank #3 in crypto, it's kind of hard to do this now)
> Then they laugh at you (calling it BTrash or Scam Coin)
> Then they fight you (DDoS on exchanges, DDoS on miners and pools, etc)
> Then you win (Support from the people moves from BTC to BCH)

I recommend this video https://vimeo.com/242870813#t=4626s

>>4460626
No luck is needed my friend, by entering the game today it's all just a matter of waiting, spending, hodling, before the eventual profit.

Normiebase I think will be having BCH trading in the future, it's all hinted at in their emails but it's all speculation at this point.

>> No.4460880

>>4460588
also 40% of its volume is from bithumb which has no usdt trading pairs

>> No.4461068

>>4456368
I wonder... What would happen if 660 million suddenly vanished from the market in 1 day?

>> No.4461116
File: 22 KB, 829x829, 1504185100601.png [View same] [iqdb] [saucenao] [google]
4461116

>>4457782
nah. the market is already expecting finex to go under (ie: it's priced in) so smart money will move to real exchanges if they haven't already. when it's all said and done everyone will be saying "I told you so" and it will be business as usual. they are chinks so no one is holding them to any moral standards.

>> No.4462169

>>4459680
neither is fiat
the truth is every trader loves tether

>> No.4463107

>>4462169
But when exchanges start liquidating tether to bump up BTC prices? Isnt that worrying?

>> No.4463166

Market cap is such a misleading measurement for crypto. Just knowing that for example the Bitfinex fags trade on their own platform, much of BTC volume is fraudulent. All BTC/USDT trading is fraudulent. Wash trading is rampant.
We are getting a Gox 2.
I'm bullish BTC long term but I want these shitters to take their money and run so the crash can happen and we can move on.

>> No.4463174

>>4463107
of course it is, dont get gaslit by cultists