People are about to get fucked

Anyone else feel that this tether bullshit is about to pop?

twitter.com/Bitfinexed/status/935333097377329152

Other urls found in this thread:

medium.com/@michaelx777/is-tether-being-used-for-money-laundering-34b29fdc2b74
thestar.com/amp/business/wealth/2017/11/25/another-large-bitcoin-exchange-draws-warnings.html
twitter.com/SFWRedditImages

Plz explain what you think will happen if “tether pops”.

Tether is simply a token to hold value at the rate of $1. If it pops, anyone with tether will be fucked. It won’t hurt anyone else.

many of these tethers have been used to buy bitcoins and open margin positions btw, which is what this whole fiasco is about.

I hope so, fucking dying here waiting for the BTC dip.

I've been hearing Tether's gonna pop any day for months now. "Who fucking knows" is my answer.

I hope they print more tethers so i can grow even richer.

Yeah, and how do you think it's going to drop? People are still accumulating BTC, tether or not.

This fucking guy is full of shit. He has no proof yet behaves like Alex Jones.

If anything this is going to get the government involved and then we are all gonna be screwed.

What exchanges operate from within the USA?

>finex issues tether with no backing, buys bitcoin with it (this is what drew admitted, only he phrased it like "the market wants to buy USDT with crypto")
>guy who just sold for usdt is effectively holding a completely worthless bag now
>rinse and repeat with millions
effectively:
>finex removes sell walls at zero cost, pushing price up
>price can’t go down anymore because finex can just eat the sell pressure at zero cost
>more and more people jump on this gravy train of an ever-rising asset that cannot dump anymore
>price goes up even faster
>etc.
Now what is the real bitcoin price?

Yes. Many articles this week. Questions are piling up. Suspicions are gaining traction.

medium.com/@michaelx777/is-tether-being-used-for-money-laundering-34b29fdc2b74

$200k at least, as it'll eventually replace all of world's store of value.

So what if it dumps for a bit? Just HODL.

Not only that, when it dips there wouldnt be a "Bitfinex" to catch it. Remember the China FUD? It was about to plummet hard when Bitfinex saved it from dipping below 3k.

>Tether imploding = Crash
>No Tethers to catch the crash = Crash even harder
>People thinking its not the bottom = Crash more

Toronto Star article. thestar.com/amp/business/wealth/2017/11/25/another-large-bitcoin-exchange-draws-warnings.html

People actually don't understand tether bust will send cryptos to the moon? Just don't hold tether boys.

>Yes. Many articles this week. Questions are piling up. Suspicions are gaining traction.
Not only that, they doubled the number of tethers issued in a single fucking month. DOUBLED the number of Tethers in existence in a SINGLE MONTH. Do you get how absurd that is?

They are rushing things. You know what happens when fraudsters start rushing profits right? They are getting ready to exit.

>$200k at least, as it'll eventually replace all of world's store of value
You faggots are deluded. If people find out Tether has been inflating BTC's price since its rally early this year no one will take the store of value meme seriously anymore.

Will you be able to say with a straight face that the store of value meme is real when you find out its Tether causing the insane rise in price?

>twitter.com/Bitfinexed
This guy is literally a nut job. Hes made like 30 posts a day ever since bitcoin broke $1000.

>People actually don't understand tether bust will send cryptos to the moon? Just don't hold tether boys.
Temporarily. Then it will dump. Also were you here when people got goxxed? It is insanely similar to what is happening now.

Check the bitcoin prices. Ever wondered why it pumped to $1200 then dumped hard and stayed there for years? Thats because MtGox's willy the bot pumped it hard before doing the exit scam.

>It was about to plummet hard when Bitfinex saved it from dipping below 3k
No. Everyone with half a brain jumped back in at $3000.

Show me your short positions or shut the fuck up.
Mtgox is literally nothing like whats happening now. Billions of dollars have been flowing into bitcoin and you faggots seriously think 20m usd worth of tether issued every now and then can drive it so high? Delusional..

I agree he’s showing heavily paranoid tendencies, but well… his fundamental points are sound in any case.

>tether bust will send cryptos to the moon
It will send BTC/USDT pairs to the moon. You may then purchase extremely large amounts of worthless Tether with your Bitcoin, while BTC/USD and USD/USDT plummet, leaving you without a real way to… you know… cash out.

I totally agree with you, long-term there is no ceiling for crypto. If you got in early, might as well hold through the coming dip if there is one. But it’s not the best time to buy in maybe.
And if you really got in early, this would be a good time to cash out part of your stack for a lambo or two.

>orly.jpg

>No. Everyone with half a brain jumped back in at $3000.
Whatever, there is no helping fags like you. Insane number of tethers were printed exactly when it was about to dip. People jumping in dont cause a large green dildo (300 to 500 price change) in a few minutes.

>Show me your short positions or shut the fuck up.
SHORT? ARE YOU RETARDED? Didnt you just hear me say that Tether is pumping the price and you want me to short it while Tether has not yet imploded?

These fucking brainlets lmao.

20 million Tether, on margin, has a magnitude effect.

SEVENTEEN BILLION dollars moved in from 3k back up to over 4k. Not even 100m usd worth of tethers were issued in that period.

Youre a fucking idiot.

>SEVENTEEN BILLION dollars moved in from 3k back up to over 4k.
>Not even 100m usd worth of tethers were issued in that period.

I fucking hate brainlets like you who think a billion dollar marketcap increase means a billion dollars entered the market. Just goes to show how dumb these store of value faggots are.

Do you even know how marketcaps work?

I’m not short, as you can’t really pin down when shit is about to go bust. (And in any case I don’t entirely rule out finex running a legitimate, if extremely shady business.) But I cashed out most of my stack…

>Billions of dollars have been flowing into bitcoin
A market cap increase by billions does not in any way mean that much money has actually "flown" into BTC, as in, was used to buy BTC in the recent months/weeks. For stocks, a "market cap" is a somewhat good approximation for the price a whole company might be bought at -- for crypto, it is much less meaningful, because you cannot put a price on the package of "all BTC in existence." Some people think one BTC is worth at least 200k (like that other guy), while some believe that 1k is the actual price and we’re in a bubble. For a company, such a spread is nigh-unthinkable: You can at the very least look at the worth of its assets, and if someone wants to buy stock from you thousands of percent above asset valuation, it’s an absolute no-brainer to take that offer: Because you can literally use that money to buy these assets, if at some premium, and come out far ahead.

Another point:
Think of the effects of sell walls and dips. If there wasn’t any psychology behind this, no one on this board would bother. Yet people look at this all the time. If a sell wall is blown through, or a dip decisively caught, that’s creating huge confidence in the market. Possibly it has been enough for Finex to deploy their USDT like that, to draw in lots of legitimate money.

>Insane number of tethers were printed exactly when it was about to dip
Yep. Because everyone was opening up short positions over the china news.
Keep trying. I know its hard for you brainlets to actually understand how the market works. But it cant be analyzed with numbers and liens drawn all over your screen =/

"ANY DAY NOW IT WILL CRASH!!!" since $1000. So Im guessing you've already been liquidated?

Explain how bitfinex is going to margin trade against themselves.

>he doesn't understand how Market Cap works

lol........... speechless

>50m usd tether issued in a period accounts for a 16b market cap increase in bitcoin
And whos the brainlet? Lmao

just bought 100 btc, thanks

>"ANY DAY NOW IT WILL CRASH!!!" since $1000. So Im guessing you've already been liquidated?
Ive been invested in Bitcoin before you faggot. I even ordered Jalapeno miners from Butterfly Labs (well tried to), got hyped for colored coins, used old school wallets like Armory. Dont know what the fuck im talking about? Thats because you're a newfag.

I invested heavily in Ethereum in its early days because it fulfills the promise of "colored coins" that BTC was never able to deliver. BTC is nothing but a ponzi now. People admit the tech is shit but continue to buy it since it will supposedly rise to infinity.

But sure, keep deluding yourself that you are the smart money.

>SEVENTEEN BILLION dollars moved in from 3k back up to over 4k. Not even 100m usd worth of tethers were issued in that period.
>It's another "he doesn't understand how marketcap works" episode.
It's okay, it happens to a lot of people.

Quick simplified extreme situation example to show you how it actually works.


Marketcap is amount of coins multiplied by current price of coins. For example, if you multiply the amount of bitcoins with the price of bitcoin, that's the bitcoin marketcap.

Current prince of coins is what it was traded for on average over a span stretching a short time into the past.

Let's say a coin has 5000 coins and it's trading at 2 USD per coin. That's 10 000 marketcap.

Let's say the next day, the only people willing to sell the coin sell a total of 6 coins for 40USD and there are 6 buyers who buy at that price.

Now the marketcap is 5000 times 40USD = 200 000

6 coins for 40USD is 240USD

So it cost a total of 240 USD to increase a 10 000 marketcap coin to 200 000 marketcap.

It is clear then that the purchasing pressure required to raise a coin's price is mainly affected by the value of the volume / selling supply, not the total value of all the coins of the currency.

Here's a question for you -- what do you have to gain here? If I'm wrong, I miss out on gains, do I not? So why are you sucking my cock?

Tethers create an inflated market cap, imaginary volume. Can use on margin, gain actual BTC. Prices go up with renewed FOMO.

Bitfinex doesn't margin trade against themselves, they wash trade it.

most people that go crazy are right about something that nobody else will acknowledge or care about.

Thanks for warning us Veeky Forumsraelis for so long, you tether folks. I divested half my BTC holdings at 7900 the day tether got hacked, and I'm so happy I did. Seriously.