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/biz/ - Business & Finance

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4711414 No.4711414 [Reply] [Original]

Kek, these cheeky bastards.

http://omnichest.info/lookupadd.aspx?address=3MbYQMMmSkC3AgWkj9FMo5LsPTW1zBTwXL

>> No.4711444

>>4711414
WHATS HAPPENING THE ORDER BOOKS HAVE NEARLY STOPED MOVEING ACROSS ALL USDT EXCHANGES

>> No.4711477

time to short

>> No.4711485

>>4711444
it is over, we are dooomed doooooooooomed
nice get btw

>> No.4711488

>>4711414

ATH buying corecucks triggered.

Newfags.

>> No.4712012
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4712012

>They think only btc can be bought with usdt

>> No.4712086

>>4712012
what's the meaning of this brainlet here

>> No.4712885

>>4712086
Big things happen in jan-july for some reason

>> No.4712919

>>4711414
This will not end well.

>> No.4712940
File: 49 KB, 750x418, DP_3NiUW0AAcVhQ.jpg-large.jpg [View same] [iqdb] [saucenao] [google]
4712940

1.) Tether & Bitfinex are owned by the same people.

2.) Tether in theory is a way to trade Bitcoins for USD without having to move your money off exchanges each time. In theory, it's a great idea. By the way, Tether = "USDT"

3.) Tether is supposed to be valued at $1.00 USD. The owners of Tether in theory would accept wire transfers from whales and create Tether for them, at a rate of 1 USDT to 1 USD.

4.) Tether was supposed to provide frequent audits of their cash reserves, to prove that they indeed had exactly one dollar for each Tether in existence. There have been no audits at all, and very little information exists about Tether at all. We have no idea where their bank is, or if they even HAVE a bank.

5.) The drama currently unfolding is that Tether has ZERO proof that their USDT is backed up by any real dollars, yet they keep creating more USDT.

6.) New USDT appears on places like Bitfinex (which Tether owns!) and starts buying more BTC with it. People see this activity, and think that real USD is buying BTC. This starts to raise the price of BTC.

The theory is that Tether is printing USDT with zero backing of USD. Literally printing money. They have convinced a lot of people that 1 USDT is worth 1 USD, but there is ZERO evidence after years of promises.

If this is true, then the price of Bitcoin is probably being pumped up by Tether, as there are well over 700,000,000 Tethers in existence, which can then be used in margin trading on Bitfinex to start fucking with the market.

At some point, people will start trying to cash out and find that there is a huge gap in what the market says BTC is worth and what they can actually get when trying to sell their BTC.

Once the jig is up, Bitcoin will crash HARD. No amount of normie grandma cash will be able to overcome the bank run that will happen once people realize what's going on. Tether has been doing this shit since BTC 1k.

>> No.4713285

>>4712940

Please explain how they're leveraging USDT. Who is the counter party in that transaction?
I hear a lot of people ranting how 700M USDT could leverage 40billion worth of BTC transactions.

Do mean wash trading? bogus trades between USDT and BTC that artificially pump the value of BTC? because if you noticed lately BTC/KRW is trading 20%/25% higher than other pairs. Are those prices also manipulated by USDT?

we can't discount the KRW pairing with BTC and the values that are being traded there.

another opposing argument would be that the amount of money in the markets is exponentially higher than 2013. 700million is a drop in the bucket. a bail out would fix this. or a bridge loan by some really rich bastards that would end up with a positive report from an independent audit. and then the price of BTC skyrockets.

>> No.4713309
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4713309

>>4712940
YUP

>> No.4713328

>>4712940
.....seriously? again? it's pretty fucking obvious now that you're just some fucking shill

okay /biz/, this is what's really happening:

hyperinflation within hyperinflation

but people are stupid though and are lead to believe that this is a bad thing for Bitcoin

while in fact it's actually literally the complete opposite

this Tether thing is only destroying the U.S dollar faster

>> No.4713346

>>4713328
Shoo shoo Bitfinex/Tether shill

>> No.4713347

>>4711444
Double Top. Mind The Gap.

>> No.4713377

>>4713347
inverted H&S

>> No.4713379

>>4712940
fuckin genius. i hate being low iq. at least i made some money off this whole mess

>> No.4713385

>>4713346
I guess you don't understand supply and demand

>> No.4713410

>>4713377
Inverted head and shoulders does not look like a W.

>> No.4713428

>>4713410
it's forming

>> No.4713453

>>4713428
One side is already formed, and it is not a shoulder.

>> No.4713507

>>4713453
Looking at it straight up without "i just bought in at ATH Oh GOD" mental gymnastics shows a top. Now we are waiting to see if the second one is a double top. Cesation of all activity suggests it is a double top.

>> No.4713553

>>4713507
Of course, this is why they just created another metric shit ton of tethers, with which to buy the dump after the double top to stop it from being a double top. we shall see if they are successful.

>> No.4713569

>>4712940
DUDE LMAO you used me as copy pasta? Feels kinda cool. But yeah it's true.

>> No.4713615

>>4713553
In fact if you look at the timeframe of the printed tether, it always was either at the bottom of a dip, or before a dip.
No one would argue we're at a dip right now since we're still at the ATH, so it's definitively a double top.

I bet on 6k bottom, you ?

>> No.4713619

>>4712919
This is starting to really fuck me off, I beleive in some of this tech and tethers is fucking ruining it

>> No.4713636

>>4713615
Hoping for that, but they will try desperately to stop it at the psych barrier of 7.8K.

>> No.4713659

>>4713615
They are buying the shit out of it with tethers right now to try to stop the double top, "Bridge The Gap" to a steady increase from the double top psych point.

>> No.4713720

The question is how far can this go before collapsing? 20k btc? 100k?

>> No.4713740
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4713740

>>4713720
when Bitcoin has the same market cap as Apple, it'll be around 50k

when it has the same market cap as the S&P500, it'll be 1M+

>> No.4713764

>>4713720
It can go to 100K. Unless they are ready for The One World Global Currency this is all conditioning you to accept before then. I don't think so. I think they are a generation of programming out from that, so I'd say 100K is feasible before they pull the rug.

>> No.4713782

>>4713740
Interesting pnng. It's all there.

>> No.4713802

>>4713782
saw that and I was like, "Finally! Someone with some sense!"

>> No.4713851

>>4713740
>>4713764
Do you faggots know how many Tethers they would need to pump BTC to even 50k? Theres no way they could do it without literally alerting everyone that Tether is without a doubt committing fraud.

They already printed a shit ton of Tether these past two months. Everyone is on fucking red alert. Big crypto personalities are even joining Bitfinexed's stance lately. Tether has too much heat.

>> No.4713864

>>4713740

Oh yes of course. And only about 100 people who own 84% of Bitcoin will become the richest people in the world and the super rich will do nothing against that happening.

>> No.4713872

>>4711414
how do you look this up

>> No.4713912

>>4713851
them printing Tether is making this shit explode even faster

>>4713864
>and the super rich will do nothing against that happening
if they try, people will kill them

>> No.4713925

>>4713912
>if they try, people will kill them

what did you smoke today?

>> No.4713952

>>4713925
He is just a bitcoin nodipper kek. Dont mind him. He wasnt here during Mt.Gox when BTC reached a new ATH thanks to fraud.

>> No.4713955

>>4713740
So l just need to hold for 10,000 years? Lambos here I come

>> No.4713958

>>4713740
>like, "Finally! Someone with some sense!"

source: Woobull.com
>>Woobull.com
>>Woobull
>>Woo
>>bull

lold

>> No.4714485

>>4713720
when they eliminate all tethers and shut down bitfinex