Any estimations of the damage this will do once it inevitably blows up?

Any estimations of the damage this will do once it inevitably blows up?

If you haven't cashed out, just a little bit to make you feel okay.
> You'll be buying a fucking rope, crying, not able to sleep.

back to $3k btc and a 5 year bear market

All coins will drop by about 90% and we will enter a multi year bear market and potentially never recover

I don't understand how this isn't freaking people the fuck out. I was ignoring the fud, but they just keep the vicious circle going.

Bitcoin supports tether price--->Tether supports bitcoin price.

This isn't sustainable.

1k

see pic

are they printing them out of thing air or theyre actually backed by usd they got in fiat?

Just like love can blind so can greed.

People have been conditioned to think the market only goes up.

They claim they are backed.

1 USDT is probably backed by $0.01 - if you're lucky

They never provided a proper audit. No names on the website, no adress (to sue in case things go to shit). Nobody has been able to redeem tether yet,

DESPITE all of this people on here call it fud?...

Bitfinex must have hired many pajeets.

They were hacked for 31MM USDT, they instaprinted 50MM. That's the proof anyone sane person would need, unless you're blinded by greed just like BCC-fags.

Thin air.

No one knows.
They refuse audits.
What does that tell you?

Biggest bear market period in years, but when this thing starts going down at the rate it should it will be a brutal event.

A lot of time to improve BTC during that season tho.

I'm scared, but aside from cashing out there's nothing you can do. The point is, cashing out is itself almost as risky. Crypto is gamble, basically don't use money you can afford to loose & stop being a whiny bitch.

I think I'll move my shit to Kraken and only swing trade with fiat for now until this shit is resolved.

Ever notice that BTC pumps everytime they print 100M tokens. Price of BTC should drop when they print tokens, not pump. Tether should be printed when people are selling BTC, not selling. They are printing tether to pump and prop BTC desperately hoping that the public will start buying again. It's propped on matchsticks that will catch fire eventually.

If everyone starts cashing out, all BTC would be owned by fiat - crypto exchanges like coinbase right?

To everyone, be safe and invest responsibly. If you have a large amount of profits, cash out a percentage you feel comfortable with.

Don't be disillusionable, it's fine to put some money here and there into crypto but never bet your life or happiness on it.

That being said, once Tether blows up, which is a real possibility, you should be ready to have a plan, it won't be pretty. There will be a massive sell off initially once Tether stops artificially increasing the price, then I think BTC will find a floor at around 1k.

Depends if jCash arrives in time.

It'll be quite a shift. Post Tether hodlfags will get fucked. Crypto will remain a viable way to earn money, but only through trading, at least for a few years.