- Tether declared in Dec 2018 that have $1,800M in a bank account (same as their marketcap)
- Bitcoin was in Dec 2018 at $3,200
- In April 2019, was discovered that Bitfinex borrowed $ 850m from Tether and only has been returned $100M.
- Tether has $ 4,000M marketcap in July 2019 but no updates about their bank account FIAT.
- Whats next?
banana
tether is insolvent so what
everyone liquidates into bitcoin
bitcoin breaks 20k and starts the GBR
I’ll cover at 1k and ladder down my buys to $250
I jsut transfered 14000 USDT to USD on bittrex. I can relax now, right?
Yeah, BTC holders will sell their BTC to buy an insolvent token.
Until next economic crisis
There are retards on this forum who actually believe bitcoin will pump on a tether panic
it did happen last time tho
then we crashed to 3k
there will be nothing to liquidate you fucking brainlet cuck. USDT would instantly be worth $0 and anyone holding it loses everything.
this
or may be 1 USDT will be 0.1 USDC
yeah but peoples currently in USDT would panic buy anything they can while at the same time nobody will be selling
100K BTC or 1k link in the USDT pair is entirely possible if tether goes to zero
it would be meaningless but what a sight to behold
yes because bitmex uses bitfinex prices.
This right here is why it's good for bitcoin , once Tether is dead daytrading will happen in btc as it's the most stable of all cryptos.
When btc falls 5% the rest fall 10% , when btc goes up 10% the rest go up 3%
Only usecase for tether is waiting between trades without worrying about banks.
Doesn’t a lot matter as to whether the tether prints were backed at all or only partially backed?
If it was printed out of thin air, then the Bitfinex parent company would have a lot of BTC to dump.
if the tether prints were legit customers but now the deposits aren’t fully backed, then BTC should pump as people sell tether for BTC
>holy shit i just sold 1 btc for 1 million USDT
>look at the fuckers panic buying loool
>turns out there is no tether scare and everything's good
>gonna buy 100 btc now heh
the official board language is english.
nothing will happen to tether
screencap this and post it in 2021
btc 100k eoy
yeah but if tether really is worthless you now own 1m useless coin and nobody is going to sell you anything
worth the 1 btc gamble
Who will pump Bitcoin to 100k without new Tether? This market do not have FIAT liquidity to push it because smart money are not interested in Bitcoin.
Lies. Tether is a legit stable coin