Bitcoin Price Thread

I don't hate USD, i hate Tether because they print unbacked Tethers, therefore making themselves a fraud and a ponzi scheme

For now, the peg is 1$. But will it always be? The CEO when asked on CNBC whether can they guarantee they will always be able to redeem Tethers for 1$, he said "I can't guarantee anything, but i believe we will."

What a joke! Every ponzi scheme ever has said the same thing ever.

It works until it doesn't!
 
orbit23 said:
I don't hate USD, i hate Tether because they print unbacked Tethers, therefore making themselves a fraud and a ponzi scheme

For now, the peg is 1$. But will it always be? The CEO when asked on CNBC whether can they guarantee they will always be able to redeem Tethers for 1$, he said "I can't guarantee anything, but i believe we will."

What a joke! Every ponzi scheme ever has said the same thing ever.

It works until it doesn't!
More...

We already know how you feel about Tether usdt, but you did not answer my question on the exchange rate comparison of usdt vs physical usd to your local fiat currency

It was a market trading related question, btw

Supply and demand, which one commanded a higher value in the open market?
 
And at this point it's a question of WHEN, NOT IF.
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There is one soft-landing scenario that 'could' happen when the ticking time-bomb goes off. If we can knock down Tether's cap size in comparison to competing stable-coins... damage 'should' be minimized with fewer needing to run to the exit points in a panic.
 
The_Krakenite said:
There is one soft-landing scenario that 'could' happen when the ticking time-bomb goes off. If we can knock down Tether's cap size in comparison to competing stable-coins... damage 'should' be minimized with fewer needing to run to the exit points in a panic.
More...

You're trying to pick the stablecoin winner against the market

usdt has the most liquidity across all exchanges and most blockchains and most collateral acceptance in dexes and most usage in defi platforms for borrow/lend

no one is stopping you or anyone from using competing stablecoins such as usdc or dai
 
johnarb said:
You're trying to pick the stablecoin winner against the market

usdt has the most liquidity across all exchanges and most blockchains and most collateral acceptance in dexes and most usage in defi platforms for borrow/lend

no one is stopping you or anyone from using competing stablecoins such as usdc or dai
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Because the market is so good at choosing? It efficiently picked UST, Celsius, FTX, Blockfi and countless others?

My problem with USDT is that they don't have the reserves they claim they do, eg. they are NOT backed 1:1 for every Tether.

And they keep printing unbacked Tethers and pumping up the price, creating artificial demand and FOMO for retail and institutional funds to buy into the ponzi scheme.

Ponzi scheme needs continuous inflows from new participants, or else it collapses.
 
The market is being extremely forgiving at this point... Giving you another chance to sell at above $60K. You should grab this opportunity with both hands.

There is a possibility of a squeeze; $70k, $80K maybe... But $100k, $200K a $MILLION? FORGET ABOUT IT!!! Only in your dream.

The ponzi scheme is on it's last legs.
 
orbit23 said:
There is a possibility of a squeeze; $70k, $80K maybe... But $100k, $200K a $MILLION? FORGET ABOUT IT!!! Only in your dream.
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Have Fun Staying Poor, orbit


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orbit23 said:
The market is being extremely forgiving at this point... Giving you another chance to sell at above $60K. You should grab this opportunity with both hands.
More...
Sounds a bit religous, ask for forgiveness now and turn to bjezus before ya end up in hell. :)
 
(MORNINGBREW)


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FTX was ordered to pay $12.7 billion to customers. All customers will recoup their deposits that were locked when the crypto exchange went under in 2022, the Commodity Futures Trading Commission said on Thursday. FTX was able to guarantee the payments thanks to its bankruptcy liquidation, which it’s also used to reach settlements with regulators and former business partners of founder Sam Bankman-Fried, now serving 25 years for fraud. Some FTX customers reportedly feel stiffed, since their payouts are based on 2022 crypto prices.
 
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