THIS IS NOT A DRILL

you're retarded mate, the fags that run the tether ponzi are claiming that one of their "treasury wallets" containing $31,000,000 worth of Tether was "hacked"

all exchanges that issue tether are basically claiming to back each tether with $1 USD of their own money, so if they lose $31M tether to a hacker it means they have to swallow the cost themselves to protect investors. Do you think Bitfinex is going to be able to cover a $31M loss?

Go look at the markets right now everythings on a downtrend because of this news. People are pulling into fiat.

Ifyou buy tether in the first place you're a fcking pajeet. We make money off the volatility of crypto, want safe investments go to forex. Bunch of wojacks. USDT is shit, they exit out with 30mill already. Tether is stopping money from entering the ecosystem. Everyone calm you balls, but if you hodl USDT you're a fcking dumbass and forever hold your bags.

>Do you think Bitfinex is going to be able to cover a $31M loss?
yes?

they are literally printing money, kek

There is 30,950,000 tethers still in the wallet and they tagged them and blacklisted the wallet.

Put some effort if you're gonna fud, this is some weak ass shit. Even "tha flippening" was more effective.

This is all a Jewish trick, right? They weren't going to let us have fake money

Reminder to get your BTC out before the mempool congests again.

In a bear market, BTC dies with these congestion issues.

I should say that they weren't going to let us have money without banking

You think this is about $30 million? This is every exchange all their hundreds of millions of tether are going to be worth nothing. They'll all be sub-$100 million . They're going to bail to prevent the lawsuits. Shut down. Flee.

I'm gonna keep holding my Ark but GL to the rest of you.

no

thanks, I just bought 13 more BCH.

>"if you receive any USDT tokens from the above address, or from any downstream address that receives these tokens, do not accept them, as they have been flagged and will not be redeemable by Tether for USD."

They're trying to solve this by pushing out new "Omni Core" builds but this is dependent on exchanges actually implementing these builds in a timely fashion otherwise the hacker that holds these hacked USD-T is free to enter exchanges with them, but ultimately these Tethers will not be redeemable for USD by Tether.to which means people will get stuck holding WORTHLESS Tether with no $USD backing.

If you don't understand how this is problematic not only from a direct investment perspective but also market confidence/tether confidence perspective you're a moron.

Like I said before, go look at the market, literally everything is on a downtrend at the moment. Alts are all down today, BTC pulled back a bit, BCH is back a bit. People are moving into FIAT which is not good for us.

I can all but guarantee Bitfinex will either 404 or experience prolonged downtime in the near future (hours/days) but hey, be a fucking moron and keep trying to argue.

IT 404'd FUCK

>Like I said before, go look at the market, literally everything is on a downtrend at the moment. Alts are all down today, BTC pulled back a bit, BCH is back a bit. People are moving into FIAT which is not good for us.
BTC moved 5% and everything else is just moving sideways, you're full of shit
This also just happened so there hasn't been time for anything to really move

i never said anything crashed, but its pulling back.

And no not everythings just moving sideways, all altcoin markets are on a downtrend, look at LTC, NEO, QTUM, all back 3-5% so far after strong performance over the last few days. ETH starting to pull back as well.

Not CRASHING yet but investments are being pulled out into fiat.

I've liquidiated into fiat as well since, like you said, "this just happened", it's going to get bad if any of this hacked tether starts circulating in some of the mid-tier exchanges and into investors accounts. Even worse if any exchanges go down for maintenance as a result (which I think is extremely likely)

It's still getting worse...

this is the government at work

GET OUT NOW

>he's not on bitflyer
>trusting jews and chinks over nips

HOLY SHIT BITHUMB IS DOWN. COINBASE GOT HACKED. BITSTAMP QUIT. WTF ITS OVER??

hey all

a quick math quiz:
USDT accounts for about $700 M of the entire 240 B capialization in cryptocurrencies

what percentage of this market cap does USDT represent, and why are people faggots?

$30M of that tether getting hacked just lopped off like 7 billion dollars of bitcoin's market cap...

did you take calculus yet user

OMG EVERYTHINGS GOING DOWN GET OUT NOWWWWWW BITCOIN WAS NEVER REAL IT WAS MADE UP BY THE GOVERNMENT TO SELL MORE BITCOIN

If tether goes under, every exchange becomes insolvent

because its straightforward like that you fuckin shill

how do we know ver or jihan wasn't dumping again? they literally do this once a week.

someone was dumping bitcoin and it started before the news, cause they knew the hack would cause panic, and was very aware of it happening.

Whales just got a whole lot richer

>HURR DURR

Retard.

yea whatever fagit

Not exchanges that don't use it.

...

so what its not shit lmao, look at it...

Isn't 30MM not that much all things considered?

Tether being a scam or not, seriously get into DEXs.

Related news - BTS just got listed on Binance and remains severely undervalued.

Market cap doesn't mean shit. If everyone sold today would everyone get 8k/BTC?

A 30mil hack caused BTC to drop by much more than 30mil.

>20 million in dollars is enough to pump bitcoin

get mental help

tell me about BTS. never seen this DEX until recently. it's already really high, why could it go higher?

Look up the term "fractional reserve"

If you think they have 600 million USD sitting in an account somewhere to back every single Tether 1:1 then by all means sleep easy.

Hey sock puppets

Your lowest of all shitcoins was delisted from Bittrex because it was literally too shit even for them, and they list Gbyte ffs

Yeah I think so.
Bitfinex trades a billion a day. They earn 0,3% commission a day.

So 31 million dollar equates to 1 day of revenue. Not to mention they can easily fork tether just like ether in the dao hack

The outcome of this: that all stolen tether funding is marked and unusable from her on out is another significant victory for Bitcoin.

BTC promises a global transparent system of settlements. The end to corruption. That promise means nothing if you can still pull off a giant currency heist, run the funds through a tumbling service, and collect your clean coins on the other side. Everyone will be watching that address, and all of its downstream addresses. If you don't check where your money is being sent from, and you receive payment from any associated wallets, you CAN expect a knock at your front door.

The only people who should be afraid of this news are those who wanted to use crypto for bribery, corruption, and illegal black market racketeering.

That's not how it works.

And most exchanges hold lots of other currencies. They would just lose the value of the number of Tether they're holding. It doesn't change the value of their other assets like btc or eth.

> another significant victory for Bitcoin.
Dude. The only thing bitcoin supposedly has that's good is immutability. This is bad PR for bitcoin.

...

no, not a sock puppet, just was genuinely confused. now I understand, it's has no volume on any legit exchange because its a scam

Normies know two hard facts about Bitcoins: it was invented by drug dealers to help them launder money, and it is used to ransomware your computer. Bitcoin is impervious to bad PR. So who cares.

People think that the selling point is its pseudonymous transactions or low fees or immutability. But for global players, its most powerful USP is its transparency. Nobody actually enjoys paying bribes to gangsters, but nobody can stop while they run a fiat-backed confidence scheme. Nobody wants to be the first to speak out against the mobsters running the show. Once BTC makes it harder to hide the movements of your money, people can stop paying their protection money and the world suddenly feels a lot less poor without the vampire parasites sucking us dry.

That is probably the best argument I have seen yet. They make enough at $30 million to back every tether in 20 days lmao. I'm guessing they're fine.

They are forking tether and making it so the hacker can't move the stolen tethers

exactly. Two options: quarantine, or detect.
This will demonstrate it is a robust system.