I mean how low can bitcoin go because of tether? Back to $2k? There will be shitton of people who'll come to our aid and collect cheap coins.
If you think tether can send bitcoin to zero, that's not a realistic expectation.
Your funds can only go to zero if you get gox'ed. Or in this situation, bitfinex'ed.
Topic: I’ve been in Bitcoin for 5 years, and USDT is the greatest threat I’ve seen! - page 2. (Read 286 times)
April 27, 2019, 01:47:31 PM
April 27, 2019, 01:39:18 PM
Normally, Printing tether itself shouldn't have any impact on bitcoin's price. Think it like this, if I print my own version of tethers, let's call it USDx, who's going to take my shitcoins and give me their dollars? Nobody right?
The problem here is, some people are willing to take tethers for their bitcoins. Even if there isn't any, finex can make it look like they do since they can do wash trading with tethers.
I never touched tether and never will. I know many people avoid that shit too.
Delisting will hurt tether and it is a must. But then, those exchanges need to delist other stable coins too. (UsdC, tUSD etc...) If finex can manipulate tether, what makes you think that coinbase won't do the same to USDC?
After all, I still think as long as you control your private keys, tether's damage will be limited. It'll come and go eventually. If you keep your coins on an exchange however, you are at huge risk.
The problem here is, some people are willing to take tethers for their bitcoins. Even if there isn't any, finex can make it look like they do since they can do wash trading with tethers.
I never touched tether and never will. I know many people avoid that shit too.
Delisting will hurt tether and it is a must. But then, those exchanges need to delist other stable coins too. (UsdC, tUSD etc...) If finex can manipulate tether, what makes you think that coinbase won't do the same to USDC?
After all, I still think as long as you control your private keys, tether's damage will be limited. It'll come and go eventually. If you keep your coins on an exchange however, you are at huge risk.
April 27, 2019, 01:33:08 PM
So, let’s say I want to buy a new car. The new car is $50,000. I could print 50,000USDT, send it to Binance and convert it to 10 BTC. Than I can send that 10BTC to a shady fiat gateway, and cash it out for $50,000 real USD...and buy a car.
Bitfinex found a loophole. They have a license to print money and we are allowing it to happen!
#DelistTether now!
Bitfinex found a loophole. They have a license to print money and we are allowing it to happen!
#DelistTether now!
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