Bitfinex Operator Accused by N.Y. of $850 Million Cover-Up

Every issue with Tether in the past has ended up being a buying opportunity for Bitcoin. I highly doubt this time will be any different. Many of the articles about this debacle are mischaracterizing the exact nature of the transaction. Tether loaned the money to Bitfinex at a rate of 6.5% with 60M shares in Bitfinex as collateral. Regardless of whether Tether does or does not have 1:1 USD backing it, this will not cause any issues unless Bitfinex becomes insolvent.
 
mt2rules said:
Every issue with Tether in the past has ended up being a buying opportunity for Bitcoin. I highly doubt this time will be any different. Many of the articles about this debacle are mischaracterizing the exact nature of the transaction. Tether loaned the money to Bitfinex at a rate of 6.5% with 60M shares in Bitfinex as collateral. Regardless of whether Tether does or does not have 1:1 USD backing it, this will not cause any issues unless Bitfinex becomes insolvent.
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The fire sale did not last :(
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mt2rules said:
I hope you got a chance to pick up some cheap crypto! I got some LTC at $70, this market is way more bullish now than most are giving it credit for. The bears who didn't get out on that dip are going to start sweating soon.
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Time will tell, I see 1,000 and below at some point. Could obviously be totally wrong. Would not touch this shit with a 10 foot pole.
 
Indeed cryptocurrency is meant for low security transaction.
You have this cover up problem,
problem not knowing the password because CEO died in India,
cryptocurrency simply disappear into thin air ....
 
RedDuke said:
Time will tell, I see 1,000 and below at some point. Could obviously be totally wrong. Would not touch this shit with a 10 foot pole.
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To each their own. I think the bull case for crypto has never been stronger than it is right now. You have TD Ameritrade testing BTC and LTC trades on their platform, NYSE getting involved with Bakkt, and ErisX set to release some time this quarter. There are also rumors that Samsung and Nike are planning to release their own cryptos and Samsung is going to include a pre-installed wallet on their future phones. If an ETF can get regulatory approval in the US as well this year, the asset class will be completely legitimized. Either way, I think it's worth having some exposure just in case.
 
mt2rules said:
To each their own. I think the bull case for crypto has never been stronger than it is right now. You have TD Ameritrade testing BTC and LTC trades on their platform, NYSE getting involved with Bakkt, and ErisX set to release some time this quarter. There are also rumors that Samsung and Nike are planning to release their own cryptos and Samsung is going to include a pre-installed wallet on their future phones. If an ETF can get regulatory approval in the US as well this year, the asset class will be completely legitimized. Either way, I think it's worth having some exposure just in case.
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I never said, blockchain is crap. Fantastic technology and bright future. Bitcoin, Ether, Litecoin and so on, too much manipulation and fake shit around them. There is no real price discovery, and therefore the real price could be $100 or $10,000. Agree, if someone has large capital, sure why not. People gamble in casinos 24/7 :)
 
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