Cash out all your crypto to fiat now. Tether is a lie and not backed by USD. All of the gains since April are fake.
Not only are we all about to lose a bunch of money, but this will bring government regulations into the crypto space that no one wants or crypto is done for entirely.
Remember boyos from now on don't touch anything that is centralized. It was fun lads.
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>government regulations
We're not all Ameritards.
Your laws mean nothing to me.
I was saying this back in April but nobody listened to me. I feel like a fucking king.
so glad kraken provides euro pairs
and bank withdrawing takes literally 1 day before it arrives in my bank account, its comfy af
feels good to be prepared for the worst, im not letting my ether down to 130$ again
Can someone post links or info?
I thought this for a while I was never sure how tether could be linked to the dollar...
Would alt coins be affected too or just BTC?
Couldn't etherium persevere?
Even if your government doesn't go along with US regulations then it still means a huge portion of crypto users being regulated. If we survive expect 5% gains/year on a good crypto max. Just like the nyse.
>all those FUDers on business news saying it wasn't sustainable
>it was a setup all along to get NEETs to throw their life savings in so they have to get a job
All altcoins that have USDT (Tether) trading pairs are affected
I doubt it. Otherwise the whales that are "in the know" would be cashing out now, which would crash BTC. And it hasn't crashed. So that means the whales haven't pulled out.
>>it was a setup all along to get NEETs to throw their life savings in so they have to get a job
If this is the case they actually got me good. My portfolio is 3x my bank account.
This is some intense FUD.
We all know tether is a scam but if it completely fails all that it will really result in as a loss of margin trading for US customers, reduction of fiat paired trading with the exception of regulated exchanges like GDax, and possibly cause a btc/$ usd dip. The saving grace here is the fact that crypto has now completely bridged into mainstream culture resulting in institutional and retail investors pouring money from their bank accounts to get their slice of the pie. I wouldn't go liquidating your portfolio because of that bitfinexed dude, but it never hurts to put some on the side to be ready to capitalize on a good dip.
In addition, I believe a crash in BTC/$markets will result in a valuation spike of coins like ETH, LTC, XMR, etc.
Is it Tether that is the scam or the exchanges? I thought the issue is literally fake Tethers being used on Bitfinex, but isn't the Tether token on Omni a finite amount?
Oh no, the government is coming for my XMR.
Nice try gold man sacks of shit
whales can't really pull out, and wouldn't because of what you said. they can definitely keep cashing out a little every day until one day you look up and bitcoin is back at 2000.
I think people also forget there are ALOT of BTC whales who frankly don't have any option to sell off thousands of BTC into fiat for various reasons, be it they interacted with the dark market, never paid their taxes in the past or are just afraid to get government attention period
institutional investors wont enter the market with bullshit exchanges like bitfinex and the lack of regulation.
can't they just buy Monero and send increments to fresh BTC wallets? (srs question)
both.
tether is part of bitfinex.
also serious exchanges dont deal with tethers. Because of arbitrage between exchanges, when bitfinex pump the price of btc with fake tethers, the price follows in all other exchanges. so what we have now is a totally artificial btc price
Why the fuck is Tether such a big deal? I haven't used it once. What the fuck is anyone worrying about
see
It pisses me off Bitfinex is still responsible for fuckery in the market, they should have gone under after their hack/theft which in all likelihood was an inside job but no, crypto sheep went right back to it.
they will move out of BTC and into a coin that doesn't have a 5x-too-high-because-of-fake-money price. You can either sell now or after the 80% correction. It's up to you really.
The fake money appeared on the market right after the hack and right before the 5x BTC price increase. There's a causal relationship there. They would have gone bankrupt if they didn't spoof the market.
The thing is though supply and demand is supply and demand, it's one thing when Mt. Gox was running Willy Bot and was practically the only go-to exchange besides maybe btc-e, whether Finex was spoofing the market or not the fact is lots of money is buying and pouring in across many exchanges and many countries now, even if it is shown to be that Finex was fraudulent people psychologically feel BTC is worth around this price now. I can see maybe a correction of 20-30% max but not 80%.
>I believe a crash in BTC/$markets will result in a valuation spike of coins like ETH, LTC, XMR
Cmon dude
I don't understand this FUD. Was there really the idea that it was backed by dollars? Just thought it was another crypto that stayed at just around $1 for liquidity
>I missed out on all the moon missions since april
>I feel like a king
lold