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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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4479133 No.4479133 [Reply] [Original]

GET OUT OF ALL EXCHANGES . NOW!!!!! TETHER IS INSOLVENT. EXIT SCAM IN PROCESS. EVERY EXCHANGE IS ABOUT TO GO UNDER. GTFO MOTHERFUCKERS THIS IS NOT A DRILL

>> No.4479140

you need to suck a dick and shut the fuck up with this FUD

>> No.4479146

What is the quickest and cheapest place to send my BTC to convert to fiat???

>> No.4479147

>>4479133
i don't think "TETHER" can be insolvent, exchanges that can't cover the cost of the tether they issued would become insolvent, which I assume is just Bitfinex which will probably 404 within the next few hours

>> No.4479165

>>4479146
you can send it to me

>> No.4479226

>>4479133
BITTREX IS DOWN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

>> No.4479240

>>4479133
wtf is tether even

>> No.4479264

Ponzi is collapsing

>> No.4479265

hope nobody believes this fud bullshit

>> No.4479277

>>4479133
FUUUUUUUUUUUUUCK MY ALL TETHER IS GONE

>> No.4479348
File: 258 KB, 1273x881, tether shit the bed.jpg [View same] [iqdb] [saucenao] [google]
4479348

>>4479265
you're retarded mate, the fags that run the tether ponzi are claiming that one of their "treasury wallets" containing $31,000,000 worth of Tether was "hacked"

all exchanges that issue tether are basically claiming to back each tether with $1 USD of their own money, so if they lose $31M tether to a hacker it means they have to swallow the cost themselves to protect investors. Do you think Bitfinex is going to be able to cover a $31M loss?

Go look at the markets right now everythings on a downtrend because of this news. People are pulling into fiat.

>> No.4479362

Ifyou buy tether in the first place you're a fcking pajeet. We make money off the volatility of crypto, want safe investments go to forex. Bunch of wojacks. USDT is shit, they exit out with 30mill already. Tether is stopping money from entering the ecosystem. Everyone calm you balls, but if you hodl USDT you're a fcking dumbass and forever hold your bags.

>> No.4479393

>>4479348
>Do you think Bitfinex is going to be able to cover a $31M loss?
yes?

they are literally printing money, kek

>> No.4479416

>>4479348
There is 30,950,000 tethers still in the wallet and they tagged them and blacklisted the wallet.

Put some effort if you're gonna fud, this is some weak ass shit. Even "tha flippening" was more effective.

>> No.4479428

This is all a Jewish trick, right? They weren't going to let us have fake money

>> No.4479443
File: 192 KB, 1408x600, Screenshot-2017-11-21 Johoe's Mempool Size Statistics(1).png [View same] [iqdb] [saucenao] [google]
4479443

>>4479133
Reminder to get your BTC out before the mempool congests again.

In a bear market, BTC dies with these congestion issues.

>> No.4479490

>>4479428
I should say that they weren't going to let us have money without banking

>> No.4479559

You think this is about $30 million? This is every exchange all their hundreds of millions of tether are going to be worth nothing. They'll all be sub-$100 million . They're going to bail to prevent the lawsuits. Shut down. Flee.

>> No.4479562

I'm gonna keep holding my Ark but GL to the rest of you.

>> No.4479600
File: 127 KB, 601x508, 1505320537517.png [View same] [iqdb] [saucenao] [google]
4479600

>>4479133
no

>> No.4479611

>>4479443
thanks, I just bought 13 more BCH.

>> No.4479614

>>4479416
>"if you receive any USDT tokens from the above address, or from any downstream address that receives these tokens, do not accept them, as they have been flagged and will not be redeemable by Tether for USD."

They're trying to solve this by pushing out new "Omni Core" builds but this is dependent on exchanges actually implementing these builds in a timely fashion otherwise the hacker that holds these hacked USD-T is free to enter exchanges with them, but ultimately these Tethers will not be redeemable for USD by Tether.to which means people will get stuck holding WORTHLESS Tether with no $USD backing.

If you don't understand how this is problematic not only from a direct investment perspective but also market confidence/tether confidence perspective you're a moron.

Like I said before, go look at the market, literally everything is on a downtrend at the moment. Alts are all down today, BTC pulled back a bit, BCH is back a bit. People are moving into FIAT which is not good for us.

I can all but guarantee Bitfinex will either 404 or experience prolonged downtime in the near future (hours/days) but hey, be a fucking moron and keep trying to argue.

>> No.4479629

>>4479614
IT 404'd FUCK

>> No.4479681

>>4479614
>Like I said before, go look at the market, literally everything is on a downtrend at the moment. Alts are all down today, BTC pulled back a bit, BCH is back a bit. People are moving into FIAT which is not good for us.
BTC moved 5% and everything else is just moving sideways, you're full of shit
This also just happened so there hasn't been time for anything to really move

>> No.4479735

>>4479681
i never said anything crashed, but its pulling back.

And no not everythings just moving sideways, all altcoin markets are on a downtrend, look at LTC, NEO, QTUM, all back 3-5% so far after strong performance over the last few days. ETH starting to pull back as well.

Not CRASHING yet but investments are being pulled out into fiat.

I've liquidiated into fiat as well since, like you said, "this just happened", it's going to get bad if any of this hacked tether starts circulating in some of the mid-tier exchanges and into investors accounts. Even worse if any exchanges go down for maintenance as a result (which I think is extremely likely)

>> No.4479736
File: 189 KB, 1408x600, Screenshot-2017-11-21 Johoe's Mempool Size Statistics(2).png [View same] [iqdb] [saucenao] [google]
4479736

>>4479443
It's still getting worse...

>> No.4479829

this is the government at work

>> No.4480069

GET OUT NOW

>> No.4480272
File: 350 KB, 824x684, 1474323825461.png [View same] [iqdb] [saucenao] [google]
4480272

>>4479133
>he's not on bitflyer
>trusting jews and chinks over nips

>> No.4480348

>>4479133
HOLY SHIT BITHUMB IS DOWN. COINBASE GOT HACKED. BITSTAMP QUIT. WTF ITS OVER??

>> No.4480461

hey all

a quick math quiz:
USDT accounts for about $700 M of the entire 240 B capialization in cryptocurrencies

what percentage of this market cap does USDT represent, and why are people faggots?

>> No.4480509

>>4480461
$30M of that tether getting hacked just lopped off like 7 billion dollars of bitcoin's market cap...

did you take calculus yet anon

>> No.4480563

OMG EVERYTHINGS GOING DOWN GET OUT NOWWWWWW BITCOIN WAS NEVER REAL IT WAS MADE UP BY THE GOVERNMENT TO SELL MORE BITCOIN

>> No.4480630

>>4480461
If tether goes under, every exchange becomes insolvent

>> No.4480654

>>4480509
because its straightforward like that you fuckin shill

how do we know ver or jihan wasn't dumping again? they literally do this once a week.

>> No.4480667

>>4480461
someone was dumping bitcoin and it started before the news, cause they knew the hack would cause panic, and was very aware of it happening.

Whales just got a whole lot richer

>> No.4480705

>>4479362
>HURR DURR

Retard.

>> No.4480844
File: 313 KB, 1883x607, fagit.png [View same] [iqdb] [saucenao] [google]
4480844

>>4479736
yea whatever fagit

>> No.4480855

>>4480630
Not exchanges that don't use it.

>> No.4480877
File: 225 KB, 1883x607, ksiu9mvc.jpg [View same] [iqdb] [saucenao] [google]
4480877

>>4480844

>> No.4480895

>>4480877
so what its not shit lmao, look at it...

>> No.4481211
File: 91 KB, 327x300, felix_meme.png [View same] [iqdb] [saucenao] [google]
4481211

Isn't 30MM not that much all things considered?

>> No.4481279

>>4479133
Tether being a scam or not, seriously get into DEXs.

Related news - BTS just got listed on Binance and remains severely undervalued.

>> No.4481320

>>4481211
Market cap doesn't mean shit. If everyone sold today would everyone get 8k/BTC?

A 30mil hack caused BTC to drop by much more than 30mil.

>> No.4481326

>>4481320
>20 million in dollars is enough to pump bitcoin

get mental help

>> No.4481334

>>4481279
tell me about BTS. never seen this DEX until recently. it's already really high, why could it go higher?

>> No.4481337

>>4481211

Look up the term "fractional reserve"

If you think they have 600 million USD sitting in an account somewhere to back every single Tether 1:1 then by all means sleep easy.

>> No.4481351

>>4481334

Hey sock puppets

Your lowest of all shitcoins was delisted from Bittrex because it was literally too shit even for them, and they list Gbyte ffs

>> No.4481354

>>4479348
Yeah I think so.
Bitfinex trades a billion a day. They earn 0,3% commission a day.

So 31 million dollar equates to 1 day of revenue. Not to mention they can easily fork tether just like ether in the dao hack

>> No.4481426

The outcome of this: that all stolen tether funding is marked and unusable from her on out is another significant victory for Bitcoin.

BTC promises a global transparent system of settlements. The end to corruption. That promise means nothing if you can still pull off a giant currency heist, run the funds through a tumbling service, and collect your clean coins on the other side. Everyone will be watching that address, and all of its downstream addresses. If you don't check where your money is being sent from, and you receive payment from any associated wallets, you CAN expect a knock at your front door.

The only people who should be afraid of this news are those who wanted to use crypto for bribery, corruption, and illegal black market racketeering.

>> No.4481500

>>4480630
That's not how it works.

And most exchanges hold lots of other currencies. They would just lose the value of the number of Tether they're holding. It doesn't change the value of their other assets like btc or eth.

>> No.4481567

>>4481426
> another significant victory for Bitcoin.
Dude. The only thing bitcoin supposedly has that's good is immutability. This is bad PR for bitcoin.

>> No.4481582
File: 53 KB, 642x333, YOULOOKLIKEAFOOL!.jpg [View same] [iqdb] [saucenao] [google]
4481582

>>4479133
>>4479443
>>4479348
>>4479611
>>4479614
>>4479736
>>4480069
>>4480069
>>4480563
>>4481279
>>4481334

>> No.4481619

>>4481351
no, not a sock puppet, just was genuinely confused. now I understand, it's has no volume on any legit exchange because its a scam

>> No.4481989

>>4481567
Normies know two hard facts about Bitcoins: it was invented by drug dealers to help them launder money, and it is used to ransomware your computer. Bitcoin is impervious to bad PR. So who cares.

People think that the selling point is its pseudonymous transactions or low fees or immutability. But for global players, its most powerful USP is its transparency. Nobody actually enjoys paying bribes to gangsters, but nobody can stop while they run a fiat-backed confidence scheme. Nobody wants to be the first to speak out against the mobsters running the show. Once BTC makes it harder to hide the movements of your money, people can stop paying their protection money and the world suddenly feels a lot less poor without the vampire parasites sucking us dry.

>> No.4482102

>>4481354
That is probably the best argument I have seen yet. They make enough at $30 million to back every tether in 20 days lmao. I'm guessing they're fine.

>> No.4482144

>>4481426
They are forking tether and making it so the hacker can't move the stolen tethers

>> No.4482205

>>4482144
exactly. Two options: quarantine, or detect.
This will demonstrate it is a robust system.