We are sorta fucked, guys
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What happens to Tether after Bitfinex takes the money and flees?
Bitfinex is able to draw on the accounts.
shit, that's not good
even better/worse
so what do we do??
We go 2400 and buy every btc we can
Simple.
Just remove all of your crypto from any of these exchanges that you have crypto in, and move it all into COINMETRO
Lmao
kek
well fuck, what DO we do, OP
lol
Won't this make the price go up?
>People realize exchange is insolvent
>Realize Tether is worthless
>Tether goes into Bitcoin
>After this pump BTC implodes to 3-fitty
I don't hold anything in their exchanges and have only 350$ in Tether as we speak. I guess I really don't care if I lose those 350, but it would suck if USDT went to shit as I usually sell bitcoin for $ by first tethering and then selling the tether for $ "over the counter".
Cool and then get exit scammed in a month when they run out of money.
If Finex truely is insolvent then Tether is worthless as it's only value comes from Finex guarranteeing a 1 to 1 conversation to USD
Get out of Tether, send the BTC to Binance and go into TrueUSD or something.
I already hold most of my crypto assets on binance. The problem is really just that USDT has more "brand recognition" so there are people willing to buy it for real money. I don't know if these people will have TUSD or USDC and will accept it.
I've literally never heard anyone talk about USDC o TUSD irl. Gonna be a hassle. My plan, for now, is to just cash out immediately every time I sell for USDT and when it crashes how to just have a couple hundreds of less. And then I may start using USDC.
Why don't you just use a BTC ATM to cash out?
Idiots
The truth is that USDT will always trade 1:1 for USD
In people's minds, it's the same as a dollar. There is no "realize it's worthless." They've been printing USD essentially the whole time.
Think about it for a moment.
Aren't the fees for those absolutely insane? I've seen 10% for fucks sake.
Yeah it probably is. I'd prefer to not lose my money on scammers though so that's why I mention it but if you think you're safe then use Tether I guess. I didn't know there was an OTC market for Tether. Kind of ironic because I've actually never seen or heard anyone ever redeem Tether with Finex
For now the fees I get charged are less than 10% so I'll stick with this method. And I'm sure that with some talking we could agree for USDC or other stablecoin. By the way, this is not an established OTC market. It is just direct connections I have locally.
What they use the tether for I have no idea but they buy shit tons of it.
How many tether scares have we gone through, and how many of them amounted to nothing?
>What they use the Tether for I have no idea but they buy shit tons of it
That's kind of weird, why would someone be bulking on Tether? Someone trying to corner the market???
You are a hero boy, but seriously it's fast and fees are quite ok. Problem is the retarded KYC.