So let me get this straight

So let me get this straight.
The true amount of money in tether is whatever they claim minus $850 million. If this is true tether would probably implode.
During the last major tether scare Bitcoin pumped. So what's the difference now that's making it dump? Supposedly $850 million worth of crypto was taken out of circulation aswell so what gives?

Attached: honklhonk.jpg (800x450, 47K)

This isn’t a “scare” retard

Lol. It is a scare. Last of the weak hands leave before 100k.

Holy shit the cope from you bullfags

Uh huh
>that’s when my real life will begin
Sucks to be you

Panic has its own unique stupidity

What is it then? Because I'm confused as well.
Why did this play out differently from October 15?

>tfw you realize now Bitfinex dropped the $10k limit just weeks ago to lure money in because they already saw the abyss they were about to drop in
>tfw you realize now Bitfinexed was right all along

Not spoon feeding you dumbfucks. It’s been talked about on reddit years ago already on how things will play out when tether slowly unravels. I’m just here to enjoy your pink wojaks for like 5 minutes.

hodling to 0

30% of tether marcet cap, so USDT should be worth 0.7$ per USD

I am also very interested in what's going on. I think it's basically what i described in the OP but idk.
Go back faggot

give it some time for the retards to realize the only safe crypto to hold is BTC or some other established crypto. Not BNB, not some other exchange coin, not some shit alt coins.

Also, lots of trading bots assume the safe asset is USDT but these algorithms don't know that it's USDT that's insolvent. They immediately sell to USDT when BTC goes down but they don't realize USDT was the problem that caused BTC to go down.

this is good for bitcoin. it means there are enough on and offramps to fiat currency that people were able to dump for fiat. this was just general "gtfo of crypto quick!" hysteria. once people relax and realize only USDT is fucked, then the real pump begins.

if you have USDT you should be dumping it into BTC or any other coin (or stablecoin if you prefer aka a pussy).

bots make a lot of sense too. good theory.

This is the truth. This news is exactly why crypto exists - to not trust custodial services.
Selling into other custodial services right now is fucking retarded. Dumb money.

3.5 Percent of All USDT Already on TRON

Back at the beginning of March, TRONannounceda partnership with Tether which is supposed to see the stable coin migrate its supply to TRON’s network.

>reddit
Go back.

you can just say you don't know lmao.
and that's the whole point I was making. I'm assuming this is different from those hypothetical scenarios you're talking about because Tether actually remained relatively stable and btc dumped instead.
i like this explanation

I like the ideas but if tether really was insolvent that could also crash the market couldn't it? If tether were to be worth $0.70 instead of $1 then we'd a dump in any trading pair connected to tether untill it hit $0.70. from there tether could be completely removed for some reason or another (legal reasons) and could go to zero.

About 80% of Bitcoin trades are done with USDT so if USDT were to go to $0 then the amount of money lost in the crypto markets would be about 2 Billion and the volume would also drop by a large amount. I think the lack of liquidity would cause a dump.

bitcoin got to 20k / 5k on tether pumps.

80% of the trading volume is based on tether.

What happens to a market when liquidity dries up? Any of you retards care to answer?

Well last time there was FUD so buying BTC seemed right until it stabilized.

I think this time, people are going to USD because they think the market is gonna implode. The Marketcap on CMC is going down

>tfw you realize now Bitfinex dropped the $10k limit just weeks ago to lure money in because they already saw the abyss they were about to drop in
MotherFUCK

scams partnering with scams

>imagine actually thinking bitcoin will ever, EVER go anywhere close to 100k