HAPPENING

HAPPENING

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It will create a dead cat bounce of unseen precedent which might signal the morons around that crypto isn't dead yet and bring even more stupid money to the game eliminating the effect of tether crashing

Tether falls.
Takes all crypto with it.

I traded all my positions to FIAT. It was fun while it lasted.

This is my stop boys. Enjoy the ride.

ITS THE END NOW BOYS, FOR REAL
you guys are pathetic, I hope you aren't FUDing larpers and you actually did cash out

...

Why is he only mentioning BTC?
This will affect everything

once tether is gone, crypto will be stronger than ever. unstoppable momentum. fomo like we have never seen.

luckily jibrel is coming just right on time to save us. everything is going according to plan

>guys our tether is worth shit
>quick trade for btc before anyone else noticse
>bitcoin jumps to 50k
>bitfinexed guy hangs himself
>tons of Veeky Forumsraelis ejaculate of joy
>wallstreet shorters get blown the fuck out

cap this shit you weak handedfaggots

Here is my solution anons, buy HelloGold (HGT)

/thread

Okay, let's say Tether does not have 1:1 USD backing. Then all Tether holders will supposedly try to trade their USDT for any coin. Then what happens? Will USDT price tank? But why should it, if there are less USDT existing wouldn't it be easier for Tether to back it 1:1 in their reserves ? Can someone explain how this works, do USDT tokens get burnt after anyone sells them? Surely if this was the case then any exchange listing USDT will have a collossal crash...

Unironically this, all we need to do is keep feding the blockchain and thr dollar will slowly start to die

>Lets replace tether with someting just like tether
>I promise it is audited
hahahahahahahahahahahahahahahahahahahaha
Get a load of this delusional moron

50k to buy on tether exchange 5k to sell on normiebase

How will this harm bitcoin in a direct and major way? It seems to me like only tether holders at the time of collapse will get BTFO

I wish. More likely:
>the few exchanges that offer USD trading pairs get overwhelmed
>lack of real USD in the system causes systemic market crash as people are willing to sell at any price
>bloodiest day in crypto history
>followed by a massive bounce

Release the beast or cut the life support?, place your bets

Very weird that the tether FUD is increasing. Just a coincidence ;)

nothing will happen. screencap this

because the bitcoin price is pushed up by tether. when tether is gone the price will fall really badly

we already have DAI, use bibox exchange

On the opposite spectrum you could buy tether and enjoy your free gains as it goes back to 1 dollar

>implying anyone will be able to sell
coinbase and friends will just go into "maintenance"

Do you expect that once tether dies, exchanges dealing in tether will just open the floodgates to let normies withdraw their funny internet money they fomo'd into because their dollar replacement died? Best case scenario is, that the monkeys on tether exchanges get trapped while the no coin normies interpret the price rise as signal to buy crypto and flood non tether exchanges with dollars. This scenario needs a press holding their feeds and not put one article after the other about crypto being a scam because some scammers thought it was a good idea to peg some funny internet money to the dollar to give monkeys a feeling of security

How does it make BTC collapse? Everyone will exit tether to get into BTC. BTC will pump like crazy

If we need 15M for every 1k price movement and tether has about 3 billion printed than we will move 200k in price LOL

Why would it? Even assuming BTC was artificially inflated to it's current level with purely fake money, we still have a market at the current price and if there are buyers at the price, than past events wouldn't matter.

All that would matter is if there are buyers now, which there are.

dai has no fucking chance against jibrel. this is a free market and free competition and jibrel will fucking slaughter that shit, makerdao cannot compete with 10b$ of arab money. sell your dai bags and dont tell me i didnt warn you

Someone help me understand the yelling and screaming around Tether.

AFAIK even BANKS aren't 100% solvent, they're only have about 20% of funds with them at any time. I don't understand why everyone is hyping up the possibility that Bitfinex doesn't have the amount of Tether they say they do. Most of the biggest exchanges trust Tether and you'd think they have enough insight into the situation to know if it is safe to do so.

In my opinion, it seems like something nocoiners are obsessing over, praying for a crash so they can finally buy in, or those who hate crypto like "buttcoiners". Most of the Tether fud I see comes from those types and the reddit detectives who think they're onto something.

So if we don't even expect our banks to be 100% solvent, why is Tether such a massive deal? People keep saying "oh boy, once we find out not every single tether is backed by a USD EVERYTHINGS going to go crashing down!" I'm not saying this isn't a big deal, but can some user tell me where I'm wrong in seeing this as just desperate FUD?

^Continued:

point is there are no fundamentals to judge the price against. It is purely demand driven so I don't see why it woudl crash of there is sufficient demand.

Yes. Full capitalization only matters if there is a run. IDK why people are assuming there will be a run.

thats the problem, tether is operating outside of ((thier)) laws, but at the same time no one is gonna help bitcoin if tether collapses.

sell my dai bags? they are always worth $1 lol

Once people think tether is worthless they won't be able to sell it for a reasonable amount of tether. The USDT pair would explode but the USD pairs wouldn't.

Eventually nobody would be willing to sell their BTC for tether.

Get a load of this retard
Really take your funds and stop throwing money at stuff you don't understand cancer boi

BTC is the only Cryptocurrency that exists to normies.

whats the safest investment when this happens?

ETH? or ETH + few alts?

or only fiat?

another thing, the audit was called off, they were meant to present one but it isnt happening, they keep promising it, but nothing has happened to prove tethers are real.

hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha

Well boys, the memes have been fun. I'm down bigly over the past weeks so I might as well lose it all. I'll be here on the other side.

Banks are regulated and can be bailed out by government
Also they don't print money themselves anymore, but when they did it wasn't unusual for a bank to collapse with their money going to 0

lul

>full capitalization was spelled out in tether whitepaper fag
Each tether issued will be backed by the equivalent amount of currency unit (one tetherUSD equals
one dollar). By combining the above crypto and fiat accounting processes, we conclude the
“Solvency Equation” for the Tether System.
○ The Solvency Equation is simply TUSD = DUSD.
○ Every tether issued or redeemed, as publicly recorded by the Bitcoin blockchain will
correspond to a deposit or withdrawal of funds from the bank account.
○ The provability of TUSD relies on the Bitcoin blockchain as discussed previously.
○ The provability of DUSD will rely on several processes:
■ We publish the bank account balance on our website’s Transparency page.
■ Professional auditors will regularly verify, sign, and publish our underlying bank
balance and financial transfer statement.
>that last point there is what turnt out to be not true
>bank runs happen when people no longer believe bank is solvent

ITT: another episode of:
I traded all of my dollars for Tether™ dollars in order to buy shitcoins at 19K but I'm so confident™ that it's totally legit and I didn't get ripped off that I feel the need to lash out in autistic rage at anybody who suggests I got scammed.

shitty FUD

>as people are willing to sell at any price

sell what
sell my tethers?

how do i sell my tethers
oh yeah thats right, by buying bitcoin

I wonder why they would call for an audit in the first place if they knew they would fail it, unless it's a ploy to "buy more time", which sounds like childish logic to me.

People constantly call Bitfinex shady but people rarely point out what it is. One red FUD flag to me is that they no longer do trading in the US though.

>tether crashes
>everyone rushes to exchange their worthless tether for bitcion asap
>????bitcoin prices go down???

tether isn't gonna hurt anyone than the retards that hold it long term. bitconnect had a mcap triple tether and didn't do shit to the market when it disappeared

what is maths?

A lot of millionaires got scammed it seems

pls no we were just recovering

gee, i wonder who could be behind all these posts...

>bitcoin bubble
Who is this clueless retard?

This fud is planned attack by the US banks, there's no other explanation for (((Roubini)))'s involvement. What's going to happen is arbitrage over the week brings prices on bfx down, bringing usdt back to ~$1 and panic selling brainlets are going to lose.

but people always say "but USDT is propping the price of BTC up" but that doesn't make sense to me.

So which is it Veeky Forums, Wallstreet manipulators, normies or USDT that's pumped BTC? There's no solid theory on how Tether is proping up BTC's price, and the people saying it is are nocoiners or people who spend all day on /buttcoin/ reddit, or so it appears. That and some guy on twitter who's sole claim to fame is professionally fudding Bitfinex.

>holding Tether long term

Who the fuck does this?

I really don't understand people that don't get that someone needs to be selling something for tether in order for you to buy it.

Reality is that if and when tether is exposed anyone left holding Tether will be holding bags and BTC will crash as people try to escape back to USD or whatever fiat.

Who cares if tether collapses? It's only worth 2 billion while BTC+ETH is worth 300 billion. BitConnect fell and it was worth 2 billion. It didn't crash the whole market.

This isn't how it works, filter coins by volume. Look how many exchanges use USDT and the volume that is inside of them. If Tether gets fucked up so does everything within Crypto.

>Millionaires back it so it must not be a scam... like AAA sub-prime mortgage backed securities
fucking retard.

"The boy who cried Tether and was a filthy nocoiner."

1/4 of btcs daily volume is in tether

Has anybody been here longer than a month lol. This all started as tin foil conspiracy on Veeky Forums and spread into normieville because of all the December January newfags

people have been calling tether a scam since it first came out

see the point here is that BTC+ETH is worth an imaginary 300 billion, while tether is worth a real 2 billion.
because its value is/was pegged to the dollar, it didn't increase in value with the speculative bubble
while the market cap of BTC+ETH is imaginary, it is only the amount * current price. If any significant portion of that amount tried to actually cash out, the market implode.

You must have just woken up.
Allow me to elucidate my friend.

>Shortly after it was reported Tether dropped their relationship with the auditor 600,000,000 USDT inexplicably appeared on the market.
>Within an hour of that on all of the USDT exchanges there was a massive buying rally of BTC.
>This rally did not translate over to fiat exchanges.
>The price disparity between fiat exchanges and usdt exchanges flirted with the 1k mark at one point
Really makes one ponder.

>"m-muh Tether"

the filfthy no-coiner mutters under his breather, in his 10th attempt of the day to convince himself and others that selling at the ATL was, in fact, the correct decision

BTC/ETH prices will only implode if the volume of those coins is as a % percentage low enough that those selling/liquidating the asset is enough to fuck up standard volume

The crash wouldn't come from the collapse of Tether it would be the collapse of Bitfinex for being the one to issue it.

Bitfinex is too big to fail in crypto. The profits they are making on a daily basis aren't worth the risk of printing a couple billion fake dollars, they could make that in a couple months of healthy operations and if the crypto market continues to grow they will only make more.

The only way Bitfinex doesn't have the USD to back up Tether is if it is some CIA tier conspiracy to bring down and discredit crypto.

>Shortly after it was reported Tether dropped their relationship with the auditor 600,000,000 USDT inexplicably appeared on the market.
CME was just updating its circulating supply.
>This rally did not translate over to fiat exchanges.
Yes it did.
>The price disparity between fiat exchanges and usdt exchanges flirted with the 1k mark at one point
Wrong.

this

Tether shill plz. Nobody with an IQ over 60 believes that your post is anything but PR garbage.

>Gox was too big to fail
You are still under the impression this market is regulated and that tax payers will bail out tether fans. lol

Except it's audited by PwC.

>bitfinex is too big to fail in crypto

How can this be a thing? If Tether fucks up, every exchange that trades in it ESPECIALLY those with a USD/USDT pair will get collectively ass raped by every dick in Detroit at the same time. This is bleed out to everywhere in crypto

What is PwC? Source

can someone explain to be why the prices vary so much?

>Vary so much
Max 1-2% difference

When tether was 1,03 USD nobody really cared. I love the tether FUD campaign:)

I'm not a shill, I suspect something illegal/shifty is going on inside bitfinex/tether too but posting lies to prove it isn't going to help anyone is it? In fact it goes against your cause because when people find out you've been lying it'll backfire just like "RIPPLE ON COINBASE" shit.

Youre a retard

>Assumption
After tehter dies the same shit with a different name will help to reassure investors
>Reality
3/4 of investors are morons who get their infos from anonymous Vietnamese log rolling enthusiast forums and lamestream media.

It might work out for the next cycle, which will not start before September 2018, more probable February/March 2019

Has anyone managed to cash out tethers for actual dollars?

this. disregard frogposting nocoiner
while I do think BTC would recover if Tether collapsed, I think it'd be much bigger than BitConnect.. It's also hard to know the effect BCC had on the market because it crashed while the whole market was crashing.

nice post

its a troll

I didn't mean that they would get bailed out it was just an expression I guess to emphasize how important and large of an exchange Bitfinex is.

For them to throw away such a profitable business that could eventually be the next NYSE to make a couple billion dollars in fake money would be beyond retarded from their perspective when they are already making so much fucking money. There is no motive on their end.

I suppose you're right that it's in the best interest of Bitfinex to not have their exchange fail, and the same would apply for any other exchange using USDT.

if anyone has a legit response to this I'm curious what it'd be

>1.03

thats 3% higher.

I would have been complaining if i knew tether was doing this the entire time.

but it looks like it started happening mid 2017?
why are they doing this? why isn't it 1:1?

you are a perfect example of the idiots who bought our bags, while smart money cashed most of their funds out and reinvested in assets and commodities with actual growth.
>Gox will be the next NYSE
>Believe me
>I have One Million dollar at Gox
>They will never endanger their business model
>Think about the fees
>THE FEEEEEEEES

Because of fucking supply and demand, certain exchanges at certain times value "cashing out" to USDT higher than people at another exchange so the price may be higher or lower

Bitfinex lost retail banking in may which caused a panic

Preemptive SFYL for all Tether bagholders.

Is Gox really comparable to 2017/2018 level of crypto exchanges, the market has grown so much in the last 3 months not to mention since when Gox died

This, just look at the price difference between finex and cuckbase
bitcointicker.co

Brainlet here so can't comment. But what does bother me is that Bitfinex doesnt come out and put this FUD to rest.

Because demand and supply are making the price.

In dips the demand is higher and ist more worth because supply is less until enough tether are printed to correct it out.

And vice versa. That is the short Term answer

>having to ask the question

Keep reassuring yourself. And don't forget to "invest" more Fiat into crypto
>ib4 my crypto portfolio is worth multiple times my non crypto wealth why should I put more money in it?

Most early adopters of crypto got in because they despised bullshit like fractional reserves that banks utilize. Tether operating like banks is a huge negative, particularly when they have not even paid the right people off.

I've already cashed out 4x my initial investment with about 50k still left in crypto but thanks for your educated respondse moron. How fucking dumb are you? Bitfinex could:

>print 2 billion dollars in fake tether
>completely destroy an extremely sucessful and profitable business
>leave western society and live in some dominican shithole or be arrested for lifetime for counterfitting USD

vs.

>let business operate normally for a couple months, make 2 billion dollars
>flip the company to Cuban or some other venture capitalist for 10~ billion

And Mt. Gox didn't exit scam they got fucking hacked you retard, it is a completely different subject. Kill yourself.

I'm genuinely asking, not trying to talk shit.

Interesting. A guy that fucked himself over selling BTC for 1000$ (and later begged bitfinex to give it back) and guy who hates crypro are at it 24/7.

I think they go away with couple of mill, but to think they dont even have 1.5b to pay off is comedy gold. They had USDT backed by 450m $ (according to audit) in Sept before huge rally even began.