So when the department of justice shuts down tether, how low is BTC going to go? 3000? 1000?

Dude that's ridiculously close to being true. Who told you?

>implying -anyone- will take it

My TA says 556

>But who’s going to sell bitcoin for worthless tether?
A lot of Federalists got filthy rich buying deprecated Continentals off of bag-holding veterans who thought they would never bee revalued

>alt will pump as everybody offloads their tether
nah son, BTC just pumped because all the tether just got offloaded on YOU and every other bag holder of Tether *and* BTC

dont you see whats happening as we shitpost? Bitch is about to crash. Nothing but ETH and LINK will be left.

3000 what?
how would you measure it in the first place without tether?

Any high IQ chad fundamentals traders got shorts in?

Uh two problems with that
>Feds will likely freeze tethers assets meaning no tether can be transferred
>nobody is going to want to sell their Bitcoin for tether.

Trumpcoins

Can the usgov actually freeze tether? Is it that centralized? I don’t even understand how it works desu, I’m just a LAPRer.

>trumpcoins
what we need is to replace the Federal Reserve with a United States National Bank operating on a gold backed blockchain.

Easy peasy.

Asuka, naturally. Everyone assumed it was a typo, but I don't assume such things.

Tether will be instantly worthless... not a single person will be able to buy or sell it if it got shut down.... if it did happen we go to seriously low numbers like €300- €800 for awhile then we bobble around that until something revolutionary happens with one of the alts

It's a little known fact, but the US government is capable of freezing and confiscating Bitcoin too.

*BitCoin

Well they cant freeze bitcoin itself so what are tou talking about

you think peoples will get the news instantly ?
this will be a shit show, I can already see some moron with BTC sell order for 100K USDT getting filled

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>t. doesn’t understand how bitcoin tech works on the most basic level

TA doesn't mean shit for long term movement. It's going just under $100, I guarantee it.
Oh, that's boring.

Are you really that dumb? In such a case, everyone would sell Tether for BTC and cause BTC to hit new all time high

Stupid fucks

Sorry to disappoint, I can't do TA for beans. All I do is look at the 400 day MA and use that to guide purchases.

Who’s buying the worthless tether, brainlet?

> BTC to hit new all time high in USDT pair*

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>under $100
Look, I want to believe but I’m not there yet. Can you give the the condensed redpill?

1000000

He is actually correct that the US government could freeze Bitcoin wallets if Bitcoin got 51% attacked. Wouldn't surprise me if the US government had enough nuclear energy to do that.

It’s not about energy retard, they would also need to procure a shit ton of sha256 ASICS our of thin air

Holy shit dude, you actually just blew my mind. I never gave a shit about the Asuka prediction until now. You pointed out that "typo" so I just took another look at it and Europeans use commas where periods should be. So it's not $87, it's €87, which just so happens to convert to just under $100 where I know its going to crash to.
'no'

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With that said, I guess it’s not inconceivable that the US gov would try to 51% attack bitcoin, since they have the most to lose if the dollar is displaced as the global reserve currency. I guess we have to count on their tactical incompetence until it’s too late for them.

what in the fuck is tether

Based bear bro

Do you really think the US government is incapable of designing and procuring their own ASICS? You know Los Alamos exists right? It'd probably cost about 5-15 billion to design and manufacture their own based on current hashrate and antminer unit cost, that's barely anything when it comes to the defense budget.

Reserve status was always a political benefit, not an economic one. American economy booms when USD loses reserve status. Imagine a world where the rest of the planet isn't allowed to endlessly buy t-bills to devalue their currency against the dollar to accrue market share.

Stablecoin pegged to US dollar. Tether creators are in legal trouble in New York for alleged fraud. It seems like they’re printing coins without backing them in real dollars to some extent.

Yeah m8 btc will crash to 100 dollars. Sure. Do you know how many people are waiting to buy at low 3000s?

>without backing them in real dollars to some extent.

they just "accidentally" pulled 5B out of their ass how much of the rest do you really think is backed 25% would already be impressive imo

>Holy shit dude, you actually just blew my mind. I never gave a shit about the Asuka prediction until now. You pointed out that "typo" so I just took another look at it and Europeans use commas where periods should be. So it's not $87, it's €87, which just so happens to convert to just under $100 where I know its going to crash to.

Glad I could give you a new perspective, user.

they co-mingled assets which is a problem especially if it includes btc. but the real kicker is they had to do more of that because the confiscation of $100 million from their account.

I also just realized your TA is actually pretty fucking accurate in a way. There's going to be two crashes pretty close. The first one isn't going to be as bad as the second. I don't give a shit about the first one because the $100 bottom is right around the corner, but I just realized that $556 is right in the ballpark of where the first one is going to bottom out at. I'm really not sure whether its going to be above or below that, though. Somewhere under $1k and above $400.
Thanks.

Tether says it’s 74% backed, for what that’s worth, but we’ll probably know for sure in a few weeks

google.com/amp/s/www.coindesk.com/tether-lawyer-confirms-stablecoin-74-percent-backed-by-cash-and-equivalents?amp

you could say that for a moment tether was only 32% backed

The problem is that if it was a mistake to print 5B tether based on some dev fatfingering a command, then there are obviously very little protocols and controls that prevent Tether from issuing tethers at will with no backing.

It looks really bad. They're basically acting as an unregulated wildcat bank

en.m.wikipedia.org/wiki/Wildcat_banking

>The traditional view of wildcat banks describes them as distributing occasionally worthless currency backed by questionable security (such as mortgages and bonds).

they printed over 1B more since that news came out

>the confiscation of $100 million
$800 million and their co-mingled 'assets' includes such cancer as 'loans' from Tether to Bitfinex (ie themselves to themselves) to cover these losses. tldr, total shitshow

So why isn’t btc tanking already in anticipation? Just greed and delusion?

Jews will always start fractional reserve-ing as soon as you issue something 'xyz-backed'. Just should be a blockchain with a fixed supply like a streamlined form of bitcoin.

yeah sorry my bad but the fact that they are not fully backed because of that confiscation is quiet ironic.

no stablecoin can be fixed in supply

Almost everyone in this thread is a fuder .
Tether issue already resolved by printing Unus Sed Leo tokens.

this idiot never has heard of dai or USDC. Tether can't hurt BTC

>Just greed and delusion?
>Just
those are strong forces, it's like a game of musical chairs everyone hope to be seated when the music stop but until then they'll keep dancing

did you missed what just happen ?

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You got a timeframe on the collapse, or did Asuka nail that one as well?

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At some point the value should stabilize naturally right? The fiat USD doesn't have its value pegged to anything but it's stable enough to use in the short term anyway. Bitcoin's volatility comes from it being used much more to speculate on price rather than to pay for things, to my understanding anyway.

The problem with tether isn’t that it can’t be replaced; stable coins are brainlet shit.

The problem is that tether becoming worthless will be a systemic shock. Exchanges will have to shut down for legal reasons or because insolvency. It’ll also discredit crypto for a while like gox did.

Fuck u. Tether won't be worthless, it can still be traded on exchanges regardless of being shut down

We don't even know if they have the assets right now. What's the difference later? Suck it

BTC goes to new ATH if Tether collapses. Bet my nuts and titties

bitcoins value will stabilize at $10 billion apiece too

do you see this
tether is literally 10X bigger than all other stables coins combined, there's so real buyer in this market if tether goes the whole market crash

i'm gonna enjoy seeing retard like you meltdown

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Yeah. An analogy would be to think of 2008. People knew things were fucked when Fannie Mae and Freddie Mac seemed like they were in trouble and there were rumours of the government taking over during that summer but it took the collapse of Lehman Brothers in september for the music to really "stop"

I sincerely hope you go ahead and long at 10x leverage then. Good luck :^)

>Fuck u. Tether won't be worthless, it can still be traded on exchanges regardless of being shut down
How, idiot? They are a centrally-validated ledger. If the US government shuts down the validators, how the fuck do transactions and balance transfers get accounted for?

Pretty cringe pic there.

We might as well just use bitcoin instead of a US-created currency. The only thing is theres no way to pay with 'cash' using blockchain right now. For example in a bar or the countryside without internet access or something. There should be some physical way to pay for things as well sans electricity.

Bitcoin's price volatility comes from thin liquidity. It doesn't cost much to bart the market up and down and make a fuckton off of leveraged derivatives.

Currency like USD has much much thicker order books so it's harder to manipulate.

how is tether not just counterfeit money anyway ?
like they can make fake account give those fake account 100M USDT buy BTC then sell those BTC in fiat pair, the BTC price doesn't even need need to move and they just made 100M$ out of thin air
there is no way the US authorities don't have jurisdiction over this

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Late October 2019 should be the bottom. Which also has a pretty weird connection to the Asuka prediction. He put the year on all dates except the one with the 87,00 "typo". That one just says November (and people would obviously assume he meant November 2020, if they were all in chronological order). And considering that the bottom is going to be in late October, it may very well bleed into early November.

USD doesn't determine the bitcoin's orderbook liquidity... you're just saying that there are a lot of dollars that can be used to buy bitcoins which is true. BTC 1 million 2021.

Excellent, this all fits in very well with the whole ChainLINK usurpation theory.

If something this big happens it might trigger some kind of iron curtain black market where crypto is traded in regions under china/russian spheres of influence. Basically we will be free to virtually deflect to russia while living as neets in the dieing west. We can then if we choose to move to a lawless tradezone and fund mercenary armies, trade arms and humans as well as fund genocide games.

Someone post the Asuka prophecy here please.

>are you guys into conpiracy theories?
there is no central bank for Bitcoin. you cannot print BTC. so these tether tricksters came up with the great idea to declare a stablecoin which is only partially backed (just like banks do). they buy Bitcoin with it and inflate BTC price with it for profit. Other people with power have noticed Tether and want control over it. These big players will sue Tether until it is dead. USDC is backed by Goldman Sachs and might be the future

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it is (in this case) perhaps best described as a promissory note, one the exchanges have agreed to accept. The exchanges reasons for continuing to accept this trash are simple, it helps prevent customers switching to dollars and thus removing deposits rightfully belonging to the exchange, just, they haven't yet got round to manipulating the customer out of them till now. And speaking of which, Tether is also great for market manipulation. Where it falls over, no-one is quite sure on what conditions they are accepting this promissory note, as it basically promises nothing. They used to claim it was 1:1 backed, they have (legally, wisely) stopped doing so. But all that aside, they would still need to have been operating in NYC jurisdiction area for NY to go after them - dumbly, they managed even that

This was a typo obviously.

Thanks.

still doesn't make that first dumbass statement true. they can steal people's private keys, but not "freeze tether'

Search the price before Tether creation and you will have your answer.

> $600 in July 2014

>Price of a commodity has increased compared to 5 years ago.

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Oh man can’t wait

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Transactions on exchanges don't all go on the blockchain idiot. Why would validators be needed?

Yeah, if teth smashes under 2k is probably a guarantee. Maybe under 1k. Even with tether it hit 3k so without it and market in panic it could go crazy low

Can you imagine how many here on Jow Forums alone that would want to an hero??

no they aren't, omni is a token layer on btc network (like xcp) and not centralized

pink fields will resurrect Bizonacci again

>Bitfinex and Tether (USDT) in Trouble: NYAG Calls LEO $1B IEO a Securities Offering
LEO only got them into more hot water

Yeah ill sell you my 10 BTC for worthless USDT.

>Great Thinkin!

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>implying bitcone wont crash with tether

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$1000 in March 2017 with a lot of new money coming into crypto. Do you need more expanations?