>imagine printing 16 billion of fake money backed by nothing only for BTC to double top and fuck up your plan on how to dump on normies again all that while losing two court cases
AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH
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when this shit blows up, the fireworks will be glorious
Someone sounds a little salty about having their shorts liquidated
Even if Tether fell, wouldn't money just flood to the other stablecoins?
Tick tock, Tether cuck.
oh no, this is already the 5894769th time it happens, it's over.
What money? If tether fails, all usdt in the market will be 0.0000001$, there isn't much money flowing into other stablecoins because no one will buy tether if it is a proven scam. Look at the volume, tether volume trumps the fiat volume big time, tether created artifical demand to push up the price.
yes. but fudders will keep fudding.
What was lost exactly? The money printed from thin air?
i literally don't understand the issue with tether printing money, people have to onboard fiat to convert it to usdt anyways so what's the issue
The issue is that tether themselves said only 70% of usdt is backed by usd and other currencies (aka crypto) and this was like two years ago. Look how much tether marketcap is growing since march this year. They are simply minting usdt (without anyone changing usd to usdt), sending that to binance and bitfinex and buy btc, thus creating artifical demand. Once they want to switch that btc to real dollars is when the big crash will start.
yeah whats the issue when people hold usdt and its not actually backed by the same amount. anyone thinking tether actually has 20 bill in a bank is retarded
should i be using BUSD instead?
wait so the issue is the exchanges themselves buying btc using usdt that's artifically minted and sent to them by bitfinex right? ik it's an open secret that it's a massive ponzi at this point but still don't quite understand why
but if a person has to convert their fiat into btc or usdt originally, that usdt is indirectly backed by their original fiat no?
>Tether said
lol
theter is 2020 mt.gox
muh tether conspiracy
also the most probable time this comes crashing down will be EOY2021 when this bull run is concluding and everybody is trying to withdraw right?
even if Tether goes to 0, it'll cause BTC to drop by what...15%? kek who gives a shit
they literally print 10,000,00 tether hit enter and market buy BTC it's a complete joke. And wait get this, new tethers backed by bitcoin, so the ponzicoin known as tether is propping up BTC, pumps BTC, and is backed by BTC and not USD. In leaked correspondence bitifinex and CC even admitted to the above, stating that BTC would fall like a rock if new tethers are no injected into it. Just look at the goddamn charts yourself, tether's MCAP is now up $14 BILLION from this time last year, this shit is a joke. Tether Charts mirror BTC for a reason, it's only a matter of time before tether dethrones BTC as #1 on cmc
Okay, then this will 100% crash the market to nearly zero value. Should I get out of crypto entirely?
No you stupid nigger, look at the tether volume and compare it to btc. Liquidity is all that matters not tether mkt cap
I kind of hope so desu, it will be glorious but sad.
Yes thats the whole fucking point, look how much the market cap of usdt has grown since march this year. Half my net worth is in crypto but im not retarted, i allready took my initial inv out and take profits as the market grows. If tether collaps, bitcoin will go down to 1000 or even lower. Institutions are using coinbase, gemini and greyscale to buy btc. Which institution will convert usd to usdt to be able to buy on binance and bitfinex and huobi? No institution will do that. And retail does not have the pockets to explain the market cap of usdt. It is literally printed out of thin air to buy real btc because retards are selling their btc for usdt.
Brainlet tier
>2020
>muh tether conspiracy
cope
Nice arguments you got there
Nah take your initial inv out so you cant loose anymore. Then set sell targets to take profits Never sell all your crypto, sou never know how high they will pump it
>If tether collaps, bitcoin will go down to 1000 or even lower.
Compare market caps of BTC and any stablecoin during when BTC crabbed.
Have you ever heard of DeFi?
ya dingus
MY NIGGA IM BLACK AND EVEN I CAN UNDERSTAND THAT SOMEONE CAN MAGICALLY CREATE TETHER OUT OF THIN AIR AND THEN BUY BITCOIN WTF IS SO HARD TO UNDERSTAND?
I only have losses thus far after 3 years of trading Crypto though...
um, all this means is people are trading in and out of stablecoins. are you suggesting there will be a liquidity issue for BTC if tether fails?
we already knew tether was only backed 74% . so 1$ should be worth 0.74 usdt but guess what, the market doesn't give a fuck. market participants collectively agree that 1usd=1usdt and there's nothing you can do about it
Shit man stop trading. Buy and hold and set fixed price targets where you sell 10% of your stack each
ITT: Newfags
U DUMB BITCH I'M SAYING HOW CAN SOMEBODY USE USDT TO BUY BTC IF THEY HAVE TO ONBOARD THEIR FIAT ANYWAYS. BUT THE NICE user EXPLAINED TO ME THAT IT'S INSTITUTIONS AND EXCHANGES SO NOW IT MAKES SENSE WTF IS SO HARD TO UNDERSTAND