Be smart this time guys

this shit just prints 30 000 000 usd every few days?

>Bitfinex definitely has the fiat to back this up

please explain it to a simple brainlet like me

Increased my stack, happy for the day

medium.com/@bitfinexed/the-bitfinex-dilemma-blow-up-now-or-try-a-hail-mary-to-retain-in-business-10b9d989359f

Each transaction shows the amount of tethers issued. Take the top tx: shows 20 million usdt issued 15 hours ago. Every previous tx in that list has coincided with a BTC pump.

Keep refreshing this page every 10-15mins. If a new transaction pops up, that means fresh ammo has arrived for a BTC pump

holy shit. This has been going on for 7 months as well? would this not crash the entire market if and when it collapses?

YES AAAAAAAAAHAHAHAHHAHAHAHAHHAH

Nice trips.

After the fork cancellation, I sold at 7300, but I didn't expect it to recover so fast.

I thought we were going to have a month of down time, but we only had 4 or 5 days. I had to buy back at 7000 so that I wouldn't miss the train to almost 8000 that we just saw.

I really don't know when we're going to see the next major correction though. Aside from the Jihan BCH episode, there has been so much upward pressue.

Welcome to the world of smart money

thankyou so fucking much man.

which i knew this months ago.

This is pure insanity

looks like its losing momentum.
take profits

this is funny because USI Tech gets tokens like these.
so thats how they guarantee a pay out.

will come the fuxk down with this tether scam

can you expand on that user? people keep asking me about them. have nfi. looks like sillyness to me.

how do you know

you buy packages at $60 a piece from their website and they trade or mine it for you using their forex trade bot. its a 140 day contract mon-fri and they guarantee atleast 0.5-1% or more a day. at the end of the contract you have the option to buy more.
the more people you recruit the more commision you can take and so on and so forth.

they issue these tokens.
so thats how they stay afloat.

sorry if this is a stupid question but when you say "like these" you mean not tether, but something that operates similarly which they issue?

So the great bull run this year and the 200billion market cap of all crypto could just be a big fake inflated mess that could implode on itself any day? That is fucking terrifying.

That's the Bitconnect scam. You will never get back your full amount if people stop signing up. Literally a ponzi scheme.

Bitconnect + Bitfinex tethers makes me want to cash out everything. This shit is such a ticking time bomb. The first chance I get to cash out with some good profits I'm going to. If the market does end up crashing ill be able to buy back in at dirt cheap prices later on.

>This shit is such a ticking time bomb.
IT FUCKING IS!!!!!
PEOPLE ARE BLIND
people are eager to make those 10%, but don't realize of time bomb that is ticking behind their backs.

Dumb shit believing in a conspiracy theorist

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHH

FUCKEN DUMP!!

>Another 30M just now

Why aren't people talking about this more???

How can the tether bomb be set off though?
Maybe I'm a brainlet but I don't how it will be realistically stopped unless a government shuts them down.

People aren't going to wake up and be like "wait a minute, if we all sell these tethers they're not actually going to buy them back to maintain the price and will just leave us hanging" and then actually sell.

leave the last 10% for somebody else. Get out of the bitcoin market asap!

If BTC crashes due to tether scam, will other cryptocurrencies be safe? I mean of course there is going to be a huge dip for the whole market, but will let's say Monero or ETH survive?

Ah and I have a second question, since USDT is running on the bitcoin blockchain, a flippening would render tether unusable too, right?

No. If bitcoin fails we're all fucked

If the BTC network's totally clogged, the existing tethers would be untransferable and they probably can't mint any new ones too.

Thank you guys

this is kind of interesting
coinmarketcap.com/currencies/bitcoin/#markets
coinmarketcap.com/currencies/bitcoin-cash/#markets

BCC coming in via KRW (China?)
BTC coming in via USD (US?)

Maybe they're actually in on the game and it's legitimate?

Plenty of other currencies there than just USD at any rate, but lets analyse the situation for say today where we can see a nice big USDT entry to see how much of an impact that has on the total volume of the marketplace;

50M USDT

Total market volume for 24 hours 5.5B

0.9% of the total market volume.

That doesn't seem completely implausible, and it does seem somewhat unlikely to be the cause of some massive rout all by itself. all that JPY KRW EUR and GBP all in on the exact same game? The other USD that isn't accounted for by the daily USDT injection? What am I missing here?

Tether are completely irrelevant OBJECTIVELY.
But market aren't an objective place, but a subjective one.
And SUBJECTIVELY, this will seem like the end of BTC and will make everyone get out of BTC.

In others words, keep a big pile of fiat close at hand, because there'll be the mother of all dips to buy.
Getting back to 3 digits per BTC may not be impossible.
With a mere 10k jewpaper you could own more than 10 BTC.
I have a huge boner just thinking about that easy x100.

But let's be realist, even a full-blown tether crash paired with another FUD like some moe flippening/china ban narrative would still not make it go below 3k.

It's not going below 5k unless something truly catastrophic happens

medium.com/@bitfinexed/the-so-called-tether-audit-that-isnt-an-audit-at-all-5a40cfcc2a75

>Tether are completely irrelevant OBJECTIVELY.

not that you're wrong or anything but fucking humans.

The Tether collapse will take out all of the USDT-based exchanges. Bitfinex, Binance, HitBTC, KKex, Poloniex, and YoBit among others.

This will cause mass panic and will utterly dynamite the market. This elevator is going way lower than 5k.

Why though? There are only 600m tether. What happens when 600m tether are suddenly worth $0. It seems like it would suck, but it's less than a billion dollars. How is this bringing down multiple exchanges with it?

Lol if you had above 60 IQ and actually knew what a ponzi is before writing this comment

lots of bitcoin has been purchased using margin accounts funded by tether. imagine liquidating basically 80% of all margin accounts, on top of bringing down the entire bitfinex platform. when mt gox went down, even though a hundred million$ of bitcoin was lost it sent btc into a bear market for 2 years where it went from 1200 to 200$

what you fail to realize is:

INSTITUTIONAL MONEY COMING IN

THIS WONT CRASH FOR MONTHS.

I just cashed out today. Made over 2 grand on a 400 dollar initial investment. Wish I invested more but I couldn't justify turning all of my money into internet tokens. Anyway I'll buy back in after the next dip if it dips again.

Your descendants will analyze your internet history in 2100 and identify today as the day you sentenced them and yourself into wage slavery.

Won't quantum computers make it so hackers can just steal everyone's crypto in about 10 years?

quantum computers get protected with quantum encryption

Yeah but quantum computers will have the capabilities to look through directory.io and find every account with bitcoin in them and send it to their own account.

bankers and rich people investing on BTC