SELL FOR FUCK'S SAKE, YOU GOD DAMNED IDIOTS. DOES THIS NEED TO BE SPELLED OUT FOR YOU?
ONE OF THE BIGGEST CRYPTO EXCHANGES IS ABOUT TO GO DOWN, AND IT'S GOING TO CAUSE SYSTEMIC HAVOC.
THIS IS NOT A "PREDICTION" OR "FUD". IT'S HAPPENING. IT'S FUCKING HAPPENING, RIGHT NOW. THE CRYPTO APOCALYPSE IS UNDERWAY, AND YOU'RE ALL JUST SITTING THERE IN DENIAL, LIKE NOTHING IS GOING TO HAPPEN.
Everyone is gonna get caught with their pants down. I already moved my tusd to ledger. Got my popcorn ready
Michael Miller
shut up zoomer
Nicholas Powell
>y no crash literally no reason for it not to blow soon desu, appears inevitable. ticktock
Zachary Peterson
i don't understand what's going on, i feel like the market should be in turnoil right now... was it only the much needed technical correction from 5.6 to 5k? anyway if tether/bitfinex has to go under, let's do it asap, that issue looming over us when we reenter the bull market will suck if its not resolved.
>bitfinexd bull market confirmed kek he's not wrong tho
Levi Richardson
Everybody will migrate to binance, BNB will goto $100 overnight
Massive amounts of bitcoins will be seized, the shortage will rocket BTC to 12k overnight
Aiden Sanchez
This isn't MtGox, and there isn't just one cryptocurrency anymore. We're talking about one token linked to one exchange that only does 15% of trading volume. The crash isn't going to be like you expect. Also the price of coins are going to go UP because people are going to want to get out of Bitfenix FAST so they can liquidate elsewhere. They will be swapping Tether for coins with dollars worth 0.74 USD, which will obviously boost the premium way the fuck up. Add in the urgency and we are looking at a pump.
Wyatt Cox
>implying the market will moon because of this
Logan Myers
cope
Gabriel Gray
Tether is like 30% trading volume across all exchanges
Ian Clark
>Everybody will >'will' yeah, fucking when but ? 'Gee, theaters on fire, maybe wait to see what happens in the second half of the show first tho..' some sense but 15% volume is hardly fucking negligible
Camden Gomez
Nothing is going to happen
Xavier Campbell
Priced in.
Isaac Johnson
it was priced in
Aiden Long
>bitfinex'ed You realize that he's been trying to short the market since 2014 right?
everything will go up in comparison to tether... funds will quickly migrate to other cryptos
and if you look at the timing and you remember last year you will realize that the deepstate has been suppressing crytpo.. look at the dates... if it was benefiting crypto these fuckers would already be in jail
You're all fools. The bank that got shut down was only holding a fraction of the total USD backing tether.
Yes it's true that tether is no longer backed by USD 1 to 1 because of the loss. But most of the dollars are still there (74%, to be precise) and the tether peg isn't in any danger of breaking.
"Tether currently has cash and cash equivalents of about $2.1 billion, “representing approximately 74 percent of the current outstanding tethers,” the filing said.." >'cash equivalents' >representing 'approximately' Nothing To See Here, Nope
Aaron Brown
trading volume doesn't matter. people will just switch to another stablecoin.
the only metric you need to worry about is how many people will be bagholding tether when there are no more buy orders they can dump on.
tethers death should only cause real cryptos to pump. exchanges aren't going to die because they lose 30% of volume. exchanges have huge profit margins.
William Robinson
Get fucked Bobo, it is never going down to 2k like you desperately wanted. If it happened a year ago, maybe it would death crash, but there are trustred stable coin alternatives now. Also right at the start of the last bull run Bitfinex got hacked. That exchange and people can use it can get fucked. I consider it the last fat to cut off.
Face it the golden bull has started and the fundamentals prevented the market from crashing.
Nolan White
>absolute newfags don’t even know what happened last time tether was under fire and lost its $1 peg October 15, 2018
Chase Rogers
bro, banks keep reserves closer to 10 or 15%
74% is a very safe reserve ratio. It will not happen that more than 74% of people try to redeem their tether for dollars. Tether is fine.
where do you get this idea that 74% exists let alone is available... definitely a no linker
Aiden Foster
by mid 2017, everyone knew tether/bitfinex was insolvent these news are news only to retail investors who somehow weren't smart enough to understand this before - and there were so many signs, most people who believed in tether then will still believe in tether you can actually feel the spin from ANTI-tether people... because 74% backed is a lot more than the 0% we all believed then you've got retards who will argue "still better than fractional reserve banking", "muh tether fud", and so on basically smart money made their moves 2 years ago, and mongs won't stop being mongs. investing on fundamentals would have made you sell your bitcoin at $900 near the beginning of 2017 when it became obvious the 2016 bullrun was initiated by Spoofy washtrading and tether printing. incidentally this is what the bitfinexed faggot did, and now he's endlessly buttmad he missed the golden bullrun due to being too smart (this user sold at $3k in summer 2017, fuck being rational)
Ethan Carter
B E A R C O P E E A R C O P E
Blake Brown
They also have deposit guarantee schemes and stuff. Non-optional deposit guarantee schemes, that is
Gabriel Hall
> now he's endlessly buttmad he missed the golden bullrun due to being too smart tfw too smart to make good decisions
this. fundamentals are meme (in any market). the only thing that matters is what the market thinks of the fundamentals not the fundamentals themselves.
Elijah Jones
Binance relies on usdt. Bitfinex is the foundation of the entire crypto market.
Hunter Ward
no... its the ceiling and its about to be broken
Angel Davis
But Tether aren't a bank... What a false equivalency
Owen Ross
this.. also, there was still plenty enough to be made with a 1:1 ratio - they had, literally, one fucking job. 'reserve' of 74%, 24% or fucking 4%, its all BS, trust (fwiw) gone. tldr, Tether is un = tis ded already
Anthony Gomez
It'll be like bitconnect. Everything is fine until the music stops.
Noah Russell
why not just do a 1% fractional reserve stablecoin? each dollar stablecoin is 100% guaranteed ironclad backed by a penny - or some alternative penny equivalent.
Matthew Nguyen
Nobody cares about a literal who exchange. Coinbase, binance and bitmex are the only relevant companies left.
Tyler Adams
JUST FUCKING CRASH I'M SICK OF THIS SHIT WAITING AND WAITING KNOWING IT WILL HAPPEN. JUST DO IT
Ian Mitchell
Bitcoin price is already 6% higher on Bitf*nex. What else do you expect?
Liam Evans
why do they rely on usdt? cant they just switch to a different coin. or is it all the usdt bags they are going to be holding?
Xavier Wilson
**CRASHING NOW**
SEE? I GAVE YOU HOURS OF WARNING.
Aaron Torres
imagine being bitfinex'd. He wasted the last 3 years fudding something and it comes out he's actually completely wrong. They always had the cash reserves up until the company they trusted with their money got into trouble with the law.
And even now when it all comes to light, no one even gives a shit and the price goes up haha
Ultimate justing.
You can stop making these threads now, we don't give a shit.
Ryder Jackson
It doesn't matter if it's 75% or 100% when the authorities come in and close Bitfinex and Tether.
Sebastian Hall
so tether is now worth $.74.
Alot of banks hold less than 10% btw! BUT that is the way they where set up! tether is NOT a bank! Don't confuse them
Cameron Morris
Newfags don't realise this but all we need is 1 more big fud news article to complete wipe the system and crash the prices. Reason why it hasn't completely crashed yet is because they're still preparing, i.e. letting their own boys move the funds as well as letting delusional people like biz boys stack up on longs and build more buy walls. These niggys don't know how goxxed they're about to become.
Andrew Hall
who cares.
Carson Reed
i just sold into bitcoin, thanks for reminding us bro
Aiden Evans
you will
Noah Watson
Shut the fuck up, you little FUD nigger. Hope you go broke from your short.
Lucas Collins
when will you retards realize that bull market is in progress and no amount of fud bad news can tank price more than %5 from now?
Tether $2,843,929,661 $1.00 $11,613,304,113 2,834,358,182 USDT * what's wrong OP? where is the crash?
Angel Garcia
I'm never selling Fuck Niggers/Jannies/Spics/kikes/Roasties/degenerate homosexuals/pajeets/chinks/etc... There is actually no string of text that I can read that will convince me to sell my chainlink tokens and Bitcoin(BTC) cryptocurrency
Nolan Bennett
Bitfinex going down wouldn't wreck havoc on the markets, but since they owe Tether $800M, that sure could wreck havoc.
I don't think the market will crash until Tether in effect is shut down. People love their hopium, it was the same thing with Mt.Gox.
lel, bitfinexed btfo, wasted all his time for nothing.
Camden Flores
THERE ARE OTHER STABLE COINS THAT ARE 1TO 1 BACKED NOW YOU STUPID FAGGOT. STOP POSTING THIS SHIT BECAUSE YOU MADE A BAD TRADE
Owen Campbell
Figuring from funding. Everyone and his mom is short. So I really doubt its this bad. Volume showed smart money buying the dip. It could still go down. But this will hardly be a significant crash.
Carson Jackson
kek
Cooper Garcia
Do you guys think bitfinex will exit scam the same day satoshi gets the 1,100,000 btc from the tulip trust?
And yeah I've ran the scenarios of what could happen. And most likely things will pump if Tether goes down. People will panic buy. But in order to bring the price down it would then have to be sold on fait exchanges. Since Tether will create a premium I really doubt a lot of people will go for an instant -10%.
Camden Carter
Hurrr only *some* of our money launderers have been caught so far, we are definitely still doing fine guyz.
Asher Bailey
>ONE OF THE BIGGEST CRYPTO EXCHANGES IS ABOUT TO GO DOWN, nigga please
Elijah Jenkins
they lied and said it was every dollar.
Lucas Gonzalez
>Binance relies on usdt. Not really... they've already got stablecoin markets open for USDC, TUSD, etc. The volume will switch over very easily.
For all we know, their cold wallet holds literally only the customer deposits and they refuse to hold onto any USDT themselves.
Kayden Johnson
So each tether is backed by 74% of cash and other securities. Bitconnect is a security, right? Hmmmm Hmmmm no no no!
Only utter drooling retards and criminals who are complicit in the tether scam are left in the crypto market
Daniel Reyes
Why would you even want Tether? It's just like holding blockchain 'dollar' bills. It's just fucking FIAT on the blockchain. Gee literally all world banks are devaluing and playing shady tricks with their currency SURELY that isin't happening on the blockchain though, nope.
Fucking fools, liquidate all your 'stable' coins to BTC immediately if you have ANY self preservation in you.
Jordan Adams
You fucking retards are still making the shady crypto exchange in non-extraditing tax haven = central bank of a sovereign nation equivalency
Please sell everything you own, take out loans and turn it all into BTC so your autistic ass can crash and die with it
Christopher Wood
#droptether
Joseph Sanchez
Are you forgetting the reason you hold Bitcoin in the first place? There's no where left on earth you can preserve your wealth. Your advice about taking big loans and buying Bitcoin has been the smartest thing you've said.
Wyatt Sullivan
they're calling the markets bluff, like go ahead everyone cash out 100% of tether today, only 74% of you can get the full amount. Not enough of a discrepancy to make people panic so it stays above water.
Colton Green
>implying people even know how to cash out Tether
Kevin Rogers
Bitfinex is so fucking crooked i wouldnt be shocked if they all of a sudden "get hacked" and lose everything - ie exit scam the Mt Gox way.
Dylan Taylor
No no, they keep 10% reserve per outstanding debt. So if you invest in a bank by depositing money, someone else can borrow that money and pay you with it. After which you can deposit that same money at the bank, except now their outstanding debt to you has doubled. Repeat ad infinitum.
Adam Morris
>implying it's possible to cash out tether
Cameron Lewis
The market is a casino. It's rigged. The volume is fake. There is so much dirty money with no way to get it out. Its going to stay elevated until it gets sorted out which may be never, so don't be stupid with your money
Evan Lewis
>implying that I'm implying you can cash out tether.
