Quote from: RodeoX on February 14, 2018, 09:02:23 PM

Quote from: danielhodous on February 14, 2018, 07:00:10 PM

This is a Lehman brothers moment coming here so similar to the 2008 housing bubble

What?
The one that is "crypto insurance
The one that would truly rattle the market to maybe another 60%+ drop or more?

Tether.

Whether you are in tether or not its one that if proven to not be backed would trigger panic like no other.
Zero faith to run and hide and hedge.
All the other cryptos would start dumping to fiat, which would show the ineptitude of coinbase and others not being able to fund the "run on the banks".
The destruction of tether would take BTC to under $1000 I guarantee this.

The Crypto-cartels or as some call them Whales.
Only they can save the market by propping up AIG (sorry, tether).
Our federal reserve (the crypto cartels) will have to save the cryptos from annhilation by showing a balance sheet of fiat large enough to back the one insurance policy we have Tether.
Which is PROBABLY why the market has gone down 50% since end of year... I imagine most of the CryptoCartels have sold off to prop up AIG (dammit sorry, Tether)

Think Im wrong and wearing a tin foil hat.. thats cool.

I find it humorous that true believers in crypto and all its libertarian Utopian ideals.. have allowed a quasi federal reserve to form... not only with abilities to shape market conditions, change the supplies of our coins, manipulate price at their whim, Develop insurance scams against dips in market to protects us from massive failures (that shouldnt exist!!!!).

Allowing them to get so much power in the first place and WE INVEST in a derivative like Tether, all the while its backed (supposedly) BY FiAT and we TRUST IN THAT?!?!!!!!
Now we have to HOPE, and PRAY that our overlords can prop up Tether and back it by enough FIAT to prevent a market disaster of biblical proportions.

To quote the son at the end of Diggstown talking to his defeated father who scammed a town, and then, got out conned by a better con man in James Woods You deserve to lose.

None of those have any effect on my use of bitcoin. I don't touch alts because they always end up like this. It comes as zero surprise to me that Tether is not backed, I never thought they were. You have to set yourself up to take a fall with alts. I'm good with bitcoin.

I hope you don't really believe that... the market manipulation using USDT is well documented. Bitcoin will fall hard if tether isn't backed... you'll know its happening when bitcoin goes up 50% + in one day. Since BTC is more weighted and tied to USDT than USD the flood of users out of USDT to BTC will for a couple hours skyrocket the currency... then it will crash hard.