Tether's Legitimacy?

I just want to know what happens when this thing blows up: Pick all that apply:

1) Bitfinex goes poof, anyone who has money on Bitfinex is screwed

2) Tether goes poof, anyone who has Tether tokens has literal bags

3) Bitcoin price crashes

4) Other exchanges that trade Tethers are affected (Bittrex etc.)

5) End of crypto

1-2 seem obviouslty true. 3 I think? What about #4 though? That's the one I'm mostly asking about.

If btc crashes, its taking all of crypto with it. Theirs going to be a few outliners here and their, but its going to be a bloodbath

i'll be the first to donate a few dollars to "Back up" USDT if idiots like you think that it matters whether or not it has a dollar backing it.

it's not worth crashing the entire market and entering a 2 year nuclear winter

There is no way you can put the cat back in the bag. Crypto will have a massive crash at somepoint thats for sure, but at the end those with Iron hands who were smart enough to choose that which will rise from the ashes will be rewarded. There is not getting off this ride or going back.

BTC IS GOING TO BE LISTED ON CME, YOU FAGS!
SCAMCHANGES LIKE BITFINEX ARE TRYING TO HIKE THE PRICE UP BEFORE THE INSTITUTIONAL MONEY POUR IN.
FUCK TETHER!

>bch not mentioned once in thread so far
>YOU GUYS ARE BCH FUDSTERS

>On the Jews and Their Lies
Pick up a copy, it might save your portfolio.
goodreads.com/book/show/1110423.The_Jews_and_Their_Lies

Say no to drugs, kid.

It's just gin and vermouth, I'm not wrong though.

> largest exchange by volume wash trades BTC with car wash tokens that are not backed by anything

>doesn't matter

1,2,4
if you didn't think tether was fishy as fuck from the start, there's no helping you. als keep your coins in paper wallets, trezor, or bitcoin core wallet when you are not using them because exchanges get hacked.

ltc, eth, monero, dash, ripple and maybe a few other shitcoins have a chance of surviving if btc crashes.

Obvious FUD is obvious

Reminder to sage and report.

BTC price should go up then, right? I personally would rather have a BTC than Tether

You know the same institutional money can short the shit out of bitcoin with their endless stash of USD if they detect bullshit, right?

tethers business model is to allow you to peg your wealth to fiat without cashing out. they blatantly tell tether is not backed by usd

bitcoin will drop a good chunk from general uncertainty but most transactions have been earnest even at these price levels, there's far more holding the price up than just some conspiring wash traders
you can say good-bye to 2k gains a month but good fucking riddance, those were suffocating everything that wasn't bitcoin

shit like gox didn't kill it, tether won't

Stop listening to all the fud

medium.com/@SirLamboMoon/first-your-title-is-misleading-cf1afab0269f

no it lets them "exchange" btc despite being b& from fiat transfers.

if you can't see where this is going . . . thanks for the money. it's almost like most of you haven't seen this happen before.

UMM GUYS

twitter.com/Bitfinexed/status/932485858791493632

Page has been down for months.
Came back yesterday, they fucked up the numbers, now the page is gone again.

can you elaborate on that I don't get it?
If btc crashes it won't affect me

Tether is blatantly not operating as it was originally described.

>tethers = ~$650 MM

>Bitcoin daily volume = $5 B

>mfw this thread again

If I see that bitfinexxed retard get shilled here again baka

tether is less than 1% of the bitcoin market cap.

>if tether goes poof

it's actually will put an buy pressure on BTC. People will pay any amount of Tether to get BTC so they get move out of exchange.

Tethers now ~650m
BTC price now ~8000
That can buy 81250 BTC.

So what if the price goes to $16k/BTC?
Then what happens when the 81250 BTC bought with the USDT above want's to sell... and their BTC is now worth $1.3 Billion?

Does the exchange take a 650m loss cashing them out? Or does the exchange then exit scam?

No, it's actually really simple. If there isn't enough Tether to buy the sell orders then the sell orders don't go through. The people trying to sell their BTC can't so you know what they do?

They move their BTC from Bitfinex to Bithumb/GDAX/Bitstamp or any exchange of choice and they sell for USD there.

tether is going to cause the collapse of exchanges.

Wouldn't the price discrepancy develop between Bitcoin on true fiat exchanges and USDT? For example, people with Tether buy Bitcoin for 9000 USDT, meanwhile there are less buyers willing to buy-in with USD for the market price.

Correct. is missing part of the equation.

People will be rushing to buy BTC at any price with USDT... but why would anyone accept USDT once it has started going poof?

Assuming every single BTC was exactly priced at $8000 and you could just buy every single BTC for $8000 but we all know that doesn't work.

For example there can be 1 BTC for sale at $8000, but 20 BTC for sale at $9000. If you want to buy 21 BTC, you would have to spend $8000 on the 1 BTC, and the price would change to be $8000 for 1. But wtf, there's no more BTC for sale at that price, so you would have to go to $9000 next.

The total for 21 BTC in that case is $188000 which averages to $8952 each BTC

This is why corecuck supporters have no idea about economics, and why Bitcoin Segwit Fee Market Blockstream Core Censorship Coin is doomed to fail eventually.

Also BCH will be enabled to have 50,0000 tx/s next year compared to BTC's 3 tx/s. Think about that.

LOL ignoring the obvious elephant in the room guys? If BTC crashes in this ensuing drama the surviving coin would be BCH, the original Bitcoin without Segwit, centralization, or censorship. Low fees, scalable, Satoshi's vision.

>being a btrash supporter

perfect pitch good sir cashie

I wish you best of luck. I shan't be investing any fiat but I do hold future bch on coinbase for btc that i have since liquidated. So technically I hold more bch than btc.

> First they ignore you (we're rank #3 in crypto, it's kind of hard to do this now)
> Then they laugh at you (calling it BTrash or Scam Coin)
> Then they fight you (DDoS on exchanges, DDoS on miners and pools, etc)
> Then you win (Support from the people moves from BTC to BCH)

I recommend this video vimeo.com/242870813#t=4626s

No luck is needed my friend, by entering the game today it's all just a matter of waiting, spending, hodling, before the eventual profit.

Normiebase I think will be having BCH trading in the future, it's all hinted at in their emails but it's all speculation at this point.

also 40% of its volume is from bithumb which has no usdt trading pairs

I wonder... What would happen if 660 million suddenly vanished from the market in 1 day?

nah. the market is already expecting finex to go under (ie: it's priced in) so smart money will move to real exchanges if they haven't already. when it's all said and done everyone will be saying "I told you so" and it will be business as usual. they are chinks so no one is holding them to any moral standards.

neither is fiat
the truth is every trader loves tether

But when exchanges start liquidating tether to bump up BTC prices? Isnt that worrying?

Market cap is such a misleading measurement for crypto. Just knowing that for example the Bitfinex fags trade on their own platform, much of BTC volume is fraudulent. All BTC/USDT trading is fraudulent. Wash trading is rampant.
We are getting a Gox 2.
I'm bullish BTC long term but I want these shitters to take their money and run so the crash can happen and we can move on.

of course it is, dont get gaslit by cultists