/biz/ - Business & Finance

[Anonymous No.49381825]

I think Tether is backed by dreams and fairy dust. I think general faith in cryptocurrencies is on an inexorable decline, and Tether will enter its death spiral within three years or so. I think the collapse of Tether to zero will nuke the crypto market (since apparently USDT is traded more than BTC and ETH now) and almost every coin is going to collapse if not go belly up. I think judgment day approaches.
How do I turn these thoughts into bets? Let's say I have ~$1M to play with.

[Anonymous No.49381993]

All of your initial capital will slowly get eaten by fees and funding rates. You don't have some brilliant insider play here bucko people have been have been having this idea and doom posting about tether since 2017

[Anonymous No.49382032]

>>49381825
I mean... short tether? Short everything?

[Anonymous No.49382033]

>>49381825
>Let's say I have ~$1M to play with
no you don't

[Anonymous No.49382048]

>>49381825
BUSD is set to gradually replace Tether. Binance is permanently delisting USDT backed perpetual future contracts on their platform as of late and replacing them with BUSD backed ones. It's a gradual transfer of power.

[Anonymous No.49382096]

>>49382032
The problem is, where do I short? If I think crypto exchanges are going to collapse, I obviously don't want to place the shorts on those exchanges. If I'm worried about solvency of the entire system I'm betting against (wow I feel like Michael Burry), is my best bet to get an FCM and short BTCM2 on CME? Anything else easier to trade that I can trust to track crypto?

[Anonymous No.49382110]

>>49382096
>BTCM2
Well, not BTCM2, I guess just BTC. First time looking at CME futures.

[Anonymous No.49382143]

>>49382048
Okay, but how is that anything but a renaming of the backed USDT to BUSD, leaving the same amount of unbacked USDT as there is today.

[Anonymous No.49382193]

>>49382143
I don't know. I ain't the con master here but I'm sure Tether and CZ will figure something out.

[Anonymous No.49382202]

>>49381825
You can literally redeem tether 1:1 on tether.to and tens of billions have been getting redeemed since the start of the bear market. You think even if they run out of money crypto mms and exchanges will keep tether solvent and bail them out. Why? Because their golden goose counts on crypto not going to 0. Newfag animetranny made me respond, kys.

[Anonymous No.49382231]

>>49382202
This, i wanted to do it for arbitrage but you need to have 6 figs to even place a order fml im not gmi

[Anonymous No.49382264]

Honestly unironically it's next week

[Anonymous No.49382274]

>>49382202
Binance gonna be the first to empty their coffers in case of insolvent tether, they have the most volume. FTX wouldn’t move a finger cause sam is an evil kike rat.

[Anonymous No.49382281]

>>49382202
Why won't you help separate a fool from his money? I'm not trying to convince you, I've convinced myself and I'm looking for somewhere to place this bet.

[Anonymous No.49382497]

Oh, I was thinking I could avoid being accused of FUD, but I just realized, I could just be spreading advanced FUD by pretending I'm not spreading FUD and "just trying to make a bet". Shouldn't have explained my reasoning. It's a funny ecosystem when belief itself helps underpins the system and needs to be protected from attacks
>>49381993
Missed your post. I'm not trying to make an insider play and sneak away with some easy money, I'm making and standing by a bet! I'm looking for a reliable bookie who can offer reasonable odds and afford to pay me if it happens to play out.

Well, I was hoping there'd be something a bit easier, but I guess I'll start reading up on how trading CME options.

[Anonymous No.49384092]

Shorting is much too risky imo. You don't know the timeframe and it's very possible to lose it all even though crypto is slowly rugging.


Stay in cash and scoop up the dip.

Maybe with a part of the capital you can do more risky things i.e. very long term dated puts on crypto related stocks like COIN, MSTR, TSLA to some degree.

I wouldn't trust crypto futures (CME) as the underlying marketplaces and businesses will go belly up

[Anonymous No.49384245]

Another way is leveraged tokens, but you can't fully ride it down. Ideally with your view you would want to cash out before the exchanges go belly up.
https://www.binance.com/en/leveraged-tokens/tokens/allTokens/BTCDOWN

So staying clear of all exchanges would be the best way to go and trade only on regulated stock and options markets.

If you are bearish on crypto, are you bearish on the stock market as well?
How about crypto related businesses?

If you are long term bullish there are smart contracts to enter in which you can get paid out in crypto

Shorting can be done but scam wicks and the like wouldn't let me be comfortable with any liquidation target
Put options on COIN are only to jan 2024 for now

[Anonymous No.49385122]

>>49381825
>genkek
>Let's say I have ~$1M to play with
No you don't

[Anonymous No.49385169]

the largest holder of tether is sam & alameda. you want to be on the other side of a trade with them, good luck

[Anonymous No.49386522]

>>49381825
I can see ETH getting absolutely blasted into Jupiter's orbits via the simple fact that USDT is a smart contract living on the Ethereum chain. Bitcoin will suffer too but it's kinda isolated, even if it's paired with USDT. But Ether will get double fucked. A separate world of hurt awaits ETH

[Anonymous No.49386551]

>>49384092
>>49384245
Thanks, really do appreciate the detailed advice. Two questions
>Stay in cash and scoop up the dip.
>If you are long term bullish there are smart contracts to enter in which you can get paid out in crypto
Doesn't this assume crypto will bounce back at some future point? If I'm this bearish, I don't think I want to be holding a giant bag of BTC at the end of the day
>I wouldn't trust crypto futures (CME) as the underlying marketplaces and businesses will go belly up.
The CME is as regulated and legitimate as they come, isn't it? There shouldn't be any chance I wouldn't be able to cash out the options.

[Anonymous No.49386643]

>>49381825
>06/05/22(Sun)06:56:39
>Tether thread

[Anonymous No.49386692]

>>49386643
I don't understand the insinuation

[Anonymous No.49386703]

>>49381825
I want a Hu Tao girlfriend so badly. I want to breed and marry her