Normies are waking up to tether

Very short big spike, followed by even bigger dump and couple months sideways/slow recovery. Gonna be ok in the long run.

Can someone just make another Tether for fuck sakes
This fud is hurting the market but something like tether is needed in it

Yes, but tether is not real money. Buying BTC with Tether will not make the price of Bitcoin increase.

The price of all crypto will crash 90+% when everyone sells to USD.

>Buying BTC with Tether will not make the price of Bitcoin increase
I don't think you know how price rises. Should google that.

This FUD is getting out of hand. Bitfinex'd is fudding hard to buy cheap. He has no reason to do this otherwise.

>bitfinex doesn't want to prove tether is backed by real money
>everything is bitfinexed fault
state of bitfinex shills

You might want to Google how to kill yourself.

Did he invent the fact that Bitfinex auditor literally removed every single mention of Bitfinex from their website (including editing news archives)?

Edgelord.

>>>/rebbit/

They stated the audit was taking too long (I don't buy that excuse). My issue is with bloggers making unsubstantied claims in an attempt to FUD for personal profit.

the wojacks from the tether crash are going to be the best of the entire year. it will be GLORIOUS.

Choke to death on used tampons you redditor piece of shit.

This is all the fault of a retarded deranged individual called bitfinexed, who dedicated countless hours, days, weeks and months to FUD the shit out of tether only because he sold low.
He's a crazy guy and doesn't care about anything.
Even if tether was a scam, without that retarded guy constantly talking shit and posting his own threads here and on reddit this shit would have lasted months or at least one more year.

You can all thanks that fucker for ruining the fun.

i dont think this matters because tether isnt a scam and they have the funds all this will do is force them to allow an audit

could be the case
i worked in corporate finance and when the auditors start dicking around to extend their engagement and milk fees we terminate the engagement and find the next
it's not an easy process to transition from one auditor to another but when they become unbearable you have no other choice.

>don't look into Tether guys
>stop creating fake FUD guys
>all of you are just jealous you didn't Tether up

We've been saying this since day one yet all these fucking Veeky Forums normies are saying it will have no impact on the market when it is found out that they have no reserves and aren't audited and people lost trust and that whole shit show finally gets BITCONNECTED

He doesn't even have the balls to FUD without a handle.

Mega edgelords.

Tether has been hovering between #3 and #4 in trade volume between all exchanges. Only an idiot that can't look up basic information thinks Tether is irrelevant to crypto trading.

>convert all your tether to crypto before everyone else
>????
>profit!

Isn't that why shits been going back up? Bottom sellers to tether are buying back in, kek.

When you hear something like "relationship is dissolved with auditor", it means the auditor was working as an independent contractor for the exchange. And after the exchange saw their report, they refused to sign off.

Go get raped by a pack of niggers. I would cover an aborted niglet in razor blades and use to slice throats of everyone in your family as you watched. I would rape you myself as I throat-fucked your parents with your grandfather's rotting amputated dick. I wouldn't even kill you because you are such a worthless piece of shit. No I'd burn off all your skin, cover you in animal fur I skinned off live puppies, and cream in your ass daily to satisfy my fur fetish. FUCK YOU.

>market on the rise
>being tethered

Ultra edgelord.
>too easy

wowee, the fedora is strong today.

Veeky Forums is dumb as fuck

the whole point of tether was to go around the us dollar fiat pairing as a possible way for the irs to look into auditing.

>buy bitcoin from coinbase
>sent it to exchange that does not offer us dollar
>exchange makes new coin called tether as a stable that acts like a fiat paring.
>when bitcoin price falls significantly, you trade it for tether instead of ether or other pairings since bitcoin pricing affects everything else.
>they price tether equal to us dollar. so other fiats flood in
>cant meet up with demand so they print more tethers
>when bitcoin stops dropping, people buy back into bitcoin without losing money using tether
>irs cant audit because its not a us dollar, but its priced the same.
>irs is now looking into taxing the shit out of everything to discourage americans from making actual good money.
>audits are handed out to exchanges that have tether
>exchanges freezes american customers and tether
>people lose because they didnt sell their soul to the devil like Jay Z and Rhianna and when it rains they are not under the umbrella.

...

>.au
lol implying .au means anything in the context of the real world

normies don't wake up. they sleepwalk into new traps.

...

How much money does Bitfinex make daily?

>Removing the 3 billion pumped into the economy by Tether will CRASH BITCOIN 80%!!!
>Total tether less than 1% of the marketcap
Who does the math for these situations because they're wrong. If anything it would crash just because people don't have a dollar value to base trading on.

Wouldn't exchanges that don't deal in Tether be mostly shielded from this? I'm assuming said bankruptcy would come from a run on the bank scenario in which users exit USDT and Bitfinex doesn't have the funds. The BTC price will go down if indeed it's being pumped with Tether, but I don't see how that will kill exchanges, who will still be collecting fees as people exit BTC.

twitter.com/IamNomad/status/956283471034449920

Let's get something straight here, Veeky Forums. If you all stop giving bitfinexe'd so much attention, you won't be boxed out of crypto trading due to regulations "protecting," you from the big bad volatility. Stop inviting regulations because you're a scared faggot, faggot.

Marketcap is calculated as last trade price * total supply. if there was even a small run, we would see that there is far less than 500B invested in cryptocurrencies.

Bitcoin pricing hasn't effected everything else nearly as strong until tether came into the picture. It used to be BTC down and top alts go up. With tether thrown into the mix when BTC goes down everyone cashes out into Tether dropping alts as well.

this is because it makes it easier for bots to panic dump, I presume. most exchanges require you to cash out via btc, right? outside of Korea, that is.

thx 4 da pasta boyo

What the fuck are you talking about? Tether has been around since 2015.

This makes no fucking sense either. Why would Tether make shit easier to dump compared to Bitcoin which has more liquidity and volume in altcoins.

Veeky Forums is the fucking worst

If everyones afraid to use tether...doesnt that mean you can safely tether after this? If less people use it its less likely to collapse...

The problem is most exchanges deal in Tether though.

Also Bitfinex would be raided by the feds even if they did somehow have the money. There is no scenario in which Bitfinex survives and their employees don't go to prison for life.

Of course, constantly forking Bitcoin effects the price worse than Tether does. When the BCash fork came out each BCash was 0.05btc but there wasn't actually any cash there, just assumed value similar to actual fiat.

Most exchanges go the Bitcoin route yes. It makes it easier than cashing out a dozen different coin types.

Yes but it hasn't been nearly as prevalent as it has been recently. No one really took it seriously and would rather have alts but with more uneducated people entering crypto they see "USDT is paired 1:1" and use it because it seems safer.

...

I was under the impression that Bitfinex was the only exchanging promising this 1-1 backing. So you'd say that any exchange that deals with Tether (and therefore has to maintain cash on hand to back it) is a problem?

If Tether and Bitfinex go down, realistically, what happens? Massive exit from crypto by normies sending everything into the toilet, and more savvy people reallocating their money into other coins?

Bittrex is the biggest holder of Tether. They're a registered US Fincen company with an MSB. They have ex-fbi and ex-irs staff employed in the higher ranks.

Also the US has no jurisdiction in Taiwan where iFinex Inc is registered. You're all inviting regulation just to make yourselves poor again, logical.

That's not based on facts nor makes sense still since Bitcoin pairs still do a lot more volume than USDT pairs.

Will sell the news for FUN when I can sell for 5 BTC I hope all is well when shit explodes. I'll also hedge my money into: Mona (Japanese whales need to go somewhere, not affected by USDT, slightly affected by BTC.) MONERO & DARICO.io (backed by gold, btc and ethc ICO lasts 6 months, ICO price 1 DRC = 1USD.. & remainer in less volatile coins.. Hedge your bets ladies and gents.

Because tether provides nocoiners and latecomers an external explanation for their failure to recognize the rise of crypto. See, it's not 'real', it's all 'fake money' pumped by tether.

>Implying they are wrong

good way for (((them))) to divide everybody in this too.

...

This is the perfect explanation of what's going on

It's simpler and pathetic.
The guy that started all the fud - bitfinex'd, aka AtlasRand1 on reddit shorted btc at ~$1200 on bitfinex and got liquidated. He apparently begged them to rewind the trades. They, obviously, refused. Thus begins the now nearly year-long vendetta of a broken man.

You are absolute scum

>tether Co. keeps moving from bank to bank
>virgin island
>auditors have no clear view of reserves
>bitcoin pumps when tether prints
>tried to hide the fact bitfinex was associate with tether company
>auditors ran for the hills and scrubbed them off their website

The thing is, Tether is the same as cashing out to USD except without real USD. But you can't cash out Tether, into USD. It has to go back into Bitcoin, or its worthless. It's all FUD. It's just a way of cashing out.

i hope they follow through with the lawsuit on him and drag his ass off twitter and into a courtroom to defend his claims

>The thing is, Tether is the same as cashing out to USD except without real USD. But you can't cash out Tether, into USD
> It's all FUD. It's just a way of cashing out.

What the fuck am I reading

Tether is going to be this bubbles equivalent to mtgox.

that would mean they'll have to prove their reserves of usd. which they aren't willing to do. Hes not going to court until that happens kek

>tether Co. keeps moving from bank to bank

Banks don't like crypto, news at 11

>virgin island

Because no taxes and regulations duh

>auditors have no clear view of reserves

consequence of (1)

>bitcoin pumps when tether prints

No, demand for tether rises when bitcoin crashes, elevating its price into ~$1.05. Easy to check on cmc. In response to this arbitrageurs deposit fiat into bitfinex and withdraw usdt. Bitcoin rises afterwards because it was a bull market, at least in 2017.

>tried to hide the fact bitfinex was associate with tether company
>auditors ran for the hills and scrubbed them off their website

Again, due to (1)

You literally can deposit usdt at bitfinex and withdraw either usd or euro. Euro withdrawals go much faster. They don't have solvency problems, they have problems sending wires to retail clients due to hostile banks.

That's the reason for the new $10k limit for registrations.

explain to me in simplest form possible why
protip you cant. no one can because ifinex is a private company and is under no obligation to open their books. if the books are not open you have no idea what’s going on and speculation is meaningless either way. a bunch normie fucking news agencies that heard about crypto two months ago whos main source is a twitter account isnt proof unfortunately

can someone give me a quick rundown please

>He has no reason to do this otherwise.

He's doing it for recognition. If he is right he gets to be the one that called the crash, the one in the know that saw it all coming and tried to warn everyone but no one listened blah blah blah. I've seen private messages of his with other people where he says exactly that.

That says nothing about whether or not he is right, but yeah, those are his motives. Him pushing his idea is the same as him feeding his ego and desire to be right.

you probably don’t want that title.
causing people to lose hundreds of millions of dollars they will be looking for a sitting duck scapegoat. people are irrational and people are already fucking pissed at him if you read twitter comments

highly underrated response

but if tether proves theres reserves he'll just shutup and that will be the end of it.

But if hes right everyone gets fucked.
I think its healthy this is getting a spotlight cause it means tether cant be complacent anymore and that they should hurry up

who the fuck do you retards think you are telling a company they have to prove solvency? do you people bitch and moan and tell the private bank that holds your fiat that they have to prove their reserves, doubt it and guess what even if they were audited you would see the same shit, complexity that can’t pinned down and conpletely fleshed out. the whole fucking world runs the same way

You're implying that Tether will keep its price as everyone will be panic selling.

No one will panic sell it's all a fucking nothing burger understand?

I feel like everybody misses the mark on tether or skims over what I think it the key point.

Tether is only "fake money" or "pumping up bitcoin" if bitfinix are in fact using their OWN unsold tethers to directly purchase bitcoin. If that isn't the case there can literally be nothing wrong, because the tethers only enter the market if somebody has paid for them which means they have not created value that did not exist prior.

But for some reason all the shit I read seems to brush over that as if it's somehow a FACT that they are buying crypto with "worthless" tethers (not that the tether is only worthless if there has been no purchase of the tether, while purchased tethers have worth because somebody has initially paid for them and they are therefore backed).

the issue is that it's hard to tell what ill happen when tether crashes.

if tether crashes, everyone wants to get rid of their tether, but what can they exchange it for? I only know of one exchange that has a USD/USDT pair. the the best and fastest way to sell your tether is to pick a decently liquid coin, probably BTC/LTC/ETH as those are the big three, and are listed on GDAX which is one of the bigger exchanges with USD pairs. as people flood out of tether, tether's price drops as the demand/buyers dries up, this super-inflates crypto prices as there is so much tether in the market, and probably more tether than USD hanging out in everyones crypto accounts, so that weird relationship between USD, and USDT means the price also pumps in USD, this will probably trigger another wave of fomo as price skyrockets, but it's doubtful that any of the big players or institutional money gets in, especially because the futures contracts are all cash settled, so they could take advantage of the move without exposure to BTC's actual risk. Then everyone floods to either take profit, or cash out into actual with the expectation that everything is going to hell in a hand-basket effectively crashing the entire market with no survivors and bringing MT. GOX 2.0

alternatively the smart people and those that use actual fiat pairs might collectively cut and run to aviod the shitstorm entirly, which could trigger a large initial panic, which cascades and prevents the spike that would result from people fleeing tether. those that didn't get the news would see the crash and sell, many likely into tether and be left with nothing, and everyone else would be scrambling to cash out so fast the market doesn't have enough buyers to hold a price.

basically the conclusion is that either:
1) people flee tether into crypto causing massive spike with uncertain outcome, but likely resulting in massive crash
or
2) crash starts, slows as people move out of tether but bleeds out and continues crashing as everyone runs

if senario 1 occurs, and you are willing to take the risk, you can make shit tons of money if you have the right coins and have access to usd pairs, but you have to know when to cut and run, senario 2, sell for fiat, and if you can, go short with massive leverage and ride that shit down.

high risk play:
get it wrong and at worst you lose a lot on your short, or while holding and waiting for the pump

low risk play:
cash out and miss out on the bull run of a lifetime, likely dwarfing the run from nov/dec

even if tether crashes, if there is enough tether in the market compared to actual USD, then the USD price of bitcoin will follow the USDT price.
this depends on how much tether vs fiat is in the market, and a few other factors, but could still spike fiat price as well

>Literally 0.003% of the market.
>People will either lose all their tether or move it into other coins.
Your acting like it's the end of the world.

TETHER DEATH SPIRAL EXPLAINED
>Making sense of the Tether situation
steemit.com/cryptocurrency/@cryptoscopia/making-sense-of-the-tether-situation
>What Happens When the Tether Shit Hits the Fan?
hackernoon.com/what-will-happen-when-the-shit-hits-the-fan-with-tether-f59f92fd8dca
>Tether Traffic Light
blocklink.info

Did you read the Tether white paper? Because it would be Tether calling for Tether to prove its solvency.

Lol you retards. Do you see BTC volume in last few days? It cannot stay above 12k because volume is fucking terrible. This has nothing to do with tether and all to do with BTC being straight out garbage.

Ausfag here. From what I understand, classic ameriburger style; print more money for what it was supposed to be worth. There is no way there is one for one exchange for 1USD /USDT somewhere in the world as Tether keep printing fake USDT, therefore pumping the market 'unrealistically'. So, if and when the gigs up, all markets connected to USDT will become really volatile. Hedge your bets: cash out in anticipation everything's going back to'true' median with a massive bear market; buy a heap of ETH or coins with 'real' value, or ignore the FUD and put your fingers in yo ears and close your eyes.

Personally, I'm buying up Japanese projects. Coins with purpose or 'value' to the community. I'll hedge my bets with MONAcoin. 65% of its value is Japanese Yen. Actual money. No USDT pair. That and ETH, Saudi Coins and Chinese Coins. Nobody wants deflationary MuricaBurger coins with no value. Pic related, it's Mona

>tethers only enter the market if somebody has paid for them which means they have not created value that did not exist prior
user.. they're literally being printed out of ether

THE NOYIM KNOW!
express.co.uk/finance/city/911293/Bitcoin-price-crash-cryptocurrency-tether-Bitfinex-dollars-market-investors-value-latest

Every time I seriously look into this "tether imploding" business, all I find is lukewarm evidence, if any. It's like there are a few, really loud and obnoxious voices repeating the same mantras over and over, without much substance behind it. I come to Veeky Forums, and the implosion seems like such a certainty, like everyone is on the same page is so so sure of themselves. I think it's 90% bullshit, some kind of mass hysteria/hypnosis.

i dont think you understand, user.

it's 100% bullshit

even if they prove they are legit these loud people will just double down with the theories. they will never be satisfied guarentee it

en.wikipedia.org/wiki/Belief_perseverance

>He's a crazy guy and doesn't care about anything
He cares about the truth you lambo seeking brainlet.
Didn't you ever think the cryptocurrency boom was to good to be true?

Look at 24 hour volume friend

>Print Tether
>Give it to exchange
>Exchange has Tether reserves
>Someone sells BTC for Tether
>He can't cash out of the Tether. He has to rebuy BTC/LTC/ETH
>Exchange gets their tether back, always

See? That wasn't so hard.