Quote from: mindrust on Today at 05:38:10 AM

Quote from: popovicbit on Today at 12:20:57 AM

I can't believe the cognitive dissonance going on around here. Bitcoin/cryto used to be about not trusting 3rd parties by cutting out the middle man.

"don't trust, verify" turned into "haven't verified, but I trust them" LOLOLOLOL!

Tether proven itself to be trusted over the years. Their balance sheet is nearly $70b and that's bigger than the most US banks. If there was anything shady, the US would shut them down.

Quote from: popovicbit on Today at 12:20:57 AM

Ask yourself why you trust Tether so much? I think the simple answer is greed, people "in the know" realize there is something shady going on, but everyone wants to get rich. The party is not going to end well...this will make mt. gox seem like child's play because back then your average joe wasn't invested in crypto.

Tether is too big to fail now. If there are any misdoings, the central bank of Bitfinex will fix the situation by printing more tethers. It is that easy.

Quote from: popovicbit on Today at 12:20:57 AM

Remember the part in the move "The Big Short" when the stripper says she has 4 or 5 condos? Well that's the crypto community at the moment...having too much fun chasing dollars and not stopping to ask if this is sustainable or healthy.
BTW, the lights will turn off all at once, so don't think you will have time to get out.

That's all hater/bear talk. Enjoy staying poor.

1. Idk if you are following the news lately, but the US government is coming after Tether. The head of the SEC has been on a public road show for the past couple of months saying "WE ARE COMING". That's why Binance and other exhcanges are trying their hardest to clean up their act by taking away leverage and cutting off lots of countries. The music is slowing down and people on the inside know it. The Coinbase CEO is basically crying on Twitter every week now bc he knows what's coming. The US government works very, very slow..tons of bureaucracy. Once they get you in their cross hairs, then you are in for a world of pain.

2. One of the main reasons the US government is coming now is precisely because their balance sheet is $70 billion. Tether failing now might spill over into other financial markets, so they want to stop this before the bubble gets even bigger.

3. Bitfinix can do nothing once Tether goes down because people will lose confidence in Tether. Once confidence is gone then you can print all you want, it won't matter if nobody will touch it.

4. I'm actually replying to you because you seem like a real person...most of the other reply's look like "copy/paste" jobs (I wonder by whom?). I'm a believer in crypto long term, but the sooner this gets cleaned up the better. The technology is too good to have bozos like Tether and Bitfinix associated with it.