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7442446 No.7442446 [Reply] [Original]

Is Btc going to the depths of hell and dragging the market with it or what? No one is talking about this.

>> No.7442491

>>7442446
No, they can't erase a coin once it is released.

What will probably happen is that they'll stop producing it, and the value will moon to Andromeda because supply will be cut off but people will still use it as a safe haven

>> No.7442510
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7442510

muh tether.
they wont audit becase people are wiring dirty money. thats the worst possible scenario.

fucking conspiracy theories dont even make any sense.

>> No.7442545

No.

It turns out USD has a 60 trillion market cap and no whitepaper, central jews airdrop new coins to their friends all the time.

>> No.7442553
File: 49 KB, 600x484, 686cd862ab7e75fc1e710654d17a06bb853b5b7e97cd43a18ed26d49fe125629.jpg [View same] [iqdb] [saucenao] [google]
7442553

>>7442491
>and the value will moon to Andromeda
it's value is the fact that it remains at $1 at all times. This would destroy its entire purpose

>> No.7442600

>>7442553
What's the purpose of this coin going over $1? Are you idiots seriously going to buy this over $1.

>> No.7442609

>>7442553
Then why doesn't every exchange just allow you to trade your BTC to the exchange itself in return for useless coins that are pegged to the dollar and can only be traded for other coins on that exchange?

>> No.7442639

btc will not go to hell
yes tether will collapse

boring thread

>> No.7442733
File: 150 KB, 1280x720, The-MASSIVE-Tether-Ticking-Time-BOMB.jpg [View same] [iqdb] [saucenao] [google]
7442733

They just started printing out the Euro version of USDT called EURT. 86 million printed yesterday but no one's talking about it because of all the bots and paid shills bitfinex operates. Call me a fudder, how is it that they are able to print out EURT when USDT is stagnant? They are just trying to put BTC on life support to keep the market going whilst attracting the least amount of attention. They can't print out USDT now without people freaking out so they are printing out fucking euros now.

>> No.7442795

>>7442733
fuck yeah

>> No.7442839

>>7442446
1)Be bitfinex insiders
2) Buy bitcoin in bulk in fiat
3) A day later print tether to cover fiat losses and buy even more bitcoin
4) wait for normies to buy and inflate bitcoin price
5) dump initial bitcoin investment at elevated value and wait for market to dip again to pump and dump again

This is so transparent it's amazing it works.

>> No.7442939
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7442939

>>7442839
they're playing mindtricks on us

>> No.7443136

>>7442733

does it take effort to be this retarded?

>> No.7443283

>>7443136
It's an obvious scam, no one really seems to care there's an atom bomb sitting in the midst of the market.

>> No.7443315

tether fudders in feb 2018 lul

>> No.7443490

>>7443283
It's strange how relaxed people are about this. Like imagine what would happen to the gold markets if a large minority of gold bullion was found to be gold painted lead.

>> No.7444166

>>7443490
I suspect it's an army of paid shills and bots operated by Tether & Bitfinex. You can't put a thread or comment on reddit or here without getting downvoted and being callled a brainlet fudder. Doesn't take half a brain to connect the dots and see something is seriously wrong with Bitfinex and this market. Has been since they got severed from Wells Fargo

>> No.7444253

>>7442639
right
that's why Yobit announced that they will cover any USDT redemptions that are not met, thereby providing an extra layer of assurance.

TETHER IS LEGIT YO!

>> No.7444338

>>7443490
that analogy doesn't make any sense.
you're alluding to counterfeit gold. Tether is a cross exchange liquidity instrument used by many neets to hedge when BTC takes a dip. ofcourse the issuers could speculate with USDT when BTC is increasing in value. ergo the wash trading you were referring to. but it's not feasible in a downmarket. so issuer grants tethers that are sold for BTC. issuer of USDT

>> No.7444370

>>7444338
issuer of USDT now has BTC, they don't market sell it on the spot. they wait a bit. and sell at a profit.
the surplus fiat is used to buy more BTC.
rinse and repeat. voila 20k!

>> No.7444412

>>7444370
i'm not saying this doesn't fuck with price discovery, ofcourse it does. but it also doesn't mean that tether isn't backed by fiat.

bitfinexe'd is a retard to construct an argument over speculations that Bitfinex doesn't have fiat reserves to cover tether that is circulating
not only do they have the reserves. they fucking made a killing! in december

>> No.7444492
File: 9 KB, 240x240, Trying_to_find_a_nice_hentai_that_1__aab1ef76edd2b62f9455f1e2eb8d18d3.jpg [View same] [iqdb] [saucenao] [google]
7444492

>>7444338
Oh yeah m8... Nothing can go wrong. Nothing at all. Let's just continue to pump tether when it suits us... and they'll continue to back it up with US reserves.... oh yeah this is all fine. This is totally sustainable long term.

>> No.7444737

>>7444492

read my posts slowly and try to conceptualize the material. understand that the scheme was perfectly executed and as long as reserves can be proven no one is going to bat an eye.
but the fact of the matter remains that tether was used by the issuers for arbitrage trading. which i think is quite smart. if everyone agrees NOT TO tether up anymore then they won't run this charade called USDT and they'll exit the market. but as long as you keep using their product they're going to keep making a fuck ton of money off your sorry ass.

>> No.7445114

>>7442839
delete this

>> No.7445132

>>7442553
for once this copypasta is true

>> No.7445557

>>7444737
I understand all of that perfectly. What I'm saying to you is that I'm finding it hard to believe they were able to back up their coins with USD for so long. And what I'm worried about, and what everybody else is worried about, is what is the critical value here? Could they theoretically back up tether with a trillion US? And what happens the other way round? You reckon they'll just exit out in that scenario?