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7759772 No.7759772 [Reply] [Original]

What will happen when it becomes clear for everybody that Tether isn't backed by shit and that the true value of Tether is zero?

1. people will exchange all their tether for bitcoin, causing BTC to hit 40000
2. people will think that Tether Limited has madoffed the bitcoin price to its current height, everybody will sell, causing BTC to hit 400

>> No.7760529

>>7759772
>What will happen when it becomes clear for everybody that Tether isn't backed by shit
massive crash, massive regulation, bitfinex owners wanted by fbi, interpol

>> No.7760619

Crypto community would raise funds to fill the tether hole and things would be back to normal.

>> No.7760661

>>7760619
kekery

>> No.7760687
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7760687

>>7759772
>1. people will exchange all their tether for bitcoin, causing BTC to hit 40000

No-one will want to trade their bitcoin for worthless tether

>> No.7760824

>>7759772
Dude, that is the $64k question. My thinking is that it starts off like your #1 scenario, but note that BTC goes high IN TETHERS only. I guess we should see a rapid divergence of the BTC price in tethers compared to usd, with the difference implying the underlying perceived value of a tether.
I'm really interested in seeing how that goes down. But, maybe the whole thing will just fizzle instead of boom.

>> No.7760844

>>7760687
True, but on exchanges like Coinbase, they can trade btc for $ directly. I think there are Euro equivalent exchanges around too. No?

>> No.7760867

https://blog.bitmex.com/tether/

>> No.7760871

>>7760619
lol. Yeah, in fact you can just start by sending your pre-emptive donation to me directly.

>> No.7760917

>>7759772
Bitfinex is LOADED man. Calculate the fees for yourself and tell me they don't have tether. Literally a non-issue.

>> No.7760984

>>7760824
Tethers are never traded between people it's through the exchange, exchange would need to cover all the buys which they would because it's backed by Bitcoin

>> No.7761028

jibrel will kill and replace tether. screencap this.

>> No.7761137

>>7760984
>because it's backed by Bitcoin
Isn't the idea of Tether that is is backed by USD not by BTC.

>> No.7761163

>>7759772
no one cares about tether fud when we're not crashing. come back when the market is going down to scare people into not tethering up

>> No.7761225

>>7761163
>scare people into not tethering up
How many levels of reverse psychology is this?

>> No.7761259

>>7761028
This! Wait till normies hear about audited tether, we will be booming

>> No.7761266

>>7760917
>look at all the fees they make paid to them in this token backed by nothing, if the token were shown to be worthless, there is no way there would be any problem because they have been paid so much of it

>> No.7761268
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7761268

What will happen when it becomes clear for everybody that BTC isn't backed by any utility and that the true value of BTC is zero?

1. people will exchange all their bitcoin for bch, causing BCH to hit 40000
2. people will think that Blockstream has Madoffed the bitcoin price to its current height, everybody will sell, causing BTC to hit 400

>> No.7761305

>>7760687
Sellbooks will be emptied if tether trading is not disabled before that and some people will end up holding worthless tokens.