Crypto Megathread v34 - Last Chance to Hop on Before Launch

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BluntForceTrama said:
well goddam
who saw this coming

this industry is so random and unpredictable
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It was by design. Bitcoin is not a fiat currency but it is propped up by Tether. Everytime Bitcoin slumps, Tether is printed out of thin air even though it is supposed to be 1:1 with the U.S. dollar. So, Bitcoin is fiat by proxy. $2 billion Tether just got printed out of thin air so that is why the price of Bitcoin went up but no liquidity was created. If everyone started selling, that $2 billion would evaporate because it isn't real. The whole thing is a shell scheme for whoever gets out when getting out is good. It will all end when Tether collapses or is found to be fraudulent and then the stack of cards collapses because too much depends on Tether.


xzo1ww4y4abc1.jpeg
 
Rob Battisti said:
Also where the hell is @Rygu ???
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Binanace became unusable in Canada not much i could do i sent USDT to Coinbase which they don't allow transactions with they only allow it to come to a wallet so i have to get around to transfering it from Coinbase to some shitty Dex, buy some Eth for gas fees and convert it to something Coinbase allows you do sell/trade then i can do crypto stuff again.

Man BTC is kicking ass and alts are sucking balls.
 
Prefect said:
It was by design. Bitcoin is not a fiat currency but it is propped up by Tether. Everytime Bitcoin slumps, Tether is printed out of thin air even though it is supposed to be 1:1 with the U.S. dollar. So, Bitcoin is fiat by proxy. $2 billion Tether just got printed out of thin air so that is why the price of Bitcoin went up but no liquidity was created. If everyone started selling, that $2 billion would evaporate because it isn't real. The whole thing is a shell scheme for whoever gets out when getting out is good. It will all end when Tether collapses or is found to be fraudulent and then the stack of cards collapses because too much depends on Tether.
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Yes but who knows when that's going to be

Personally I wouldn't mind going back to trading BTC pairs.
 
Rygu said:
Binanace became unusable in Canada not much i could do i sent USDT to Coinbase which they don't allow transactions with they only allow it to come to a wallet so i have to get around to transfering it from Coinbase to some shitty Dex, buy some Eth for gas fees and convert it to something Coinbase allows you do sell/trade then i can do crypto stuff again.

Man BTC is kicking ass and alts are sucking balls.
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Why don't you just stay in defi?
 
Prefect said:
It was by design. Bitcoin is not a fiat currency but it is propped up by Tether. Everytime Bitcoin slumps, Tether is printed out of thin air even though it is supposed to be 1:1 with the U.S. dollar. So, Bitcoin is fiat by proxy. $2 billion Tether just got printed out of thin air so that is why the price of Bitcoin went up but no liquidity was created. If everyone started selling, that $2 billion would evaporate because it isn't real. The whole thing is a shell scheme for whoever gets out when getting out is good. It will all end when Tether collapses or is found to be fraudulent and then the stack of cards collapses because too much depends on Tether.


xzo1ww4y4abc1.jpeg
Click to expand...
Now show the M2 chart
 
Rygu said:
Binanace became unusable in Canada not much i could do i sent USDT to Coinbase which they don't allow transactions with they only allow it to come to a wallet so i have to get around to transfering it from Coinbase to some shitty Dex, buy some Eth for gas fees and convert it to something Coinbase allows you do sell/trade then i can do crypto stuff again.

Man BTC is kicking ass and alts are sucking balls.
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You lost all your crypto?!
 
Rob Battisti said:
You lost all your crypto?!
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Well i had to convert to USDT as per Binance's rules and forgot about when the deadline was and was in USDT when it went bye bye in Canada but i could still sent it to CB i just couldn't do any buyins or converting.
 
Rygu said:
Well i had to convert to USDT as per Binance's rules and forgot about when the deadline was and was in USDT when it went bye bye in Canada but i could still sent it to CB i just couldn't do any buyins or converting.
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Go DeFi
 
Rob Battisti said:
Now show the M2 chart
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Doesn't matter. It just shows that the very basis of Bitcoin is tied to fiat currency, tether or indirectly the U.S. dollar. It is just a shit show to trying to prove a currency that is free from manipulation but you are right back to where you started but this time it is being manipulated by crypto whales rather the federal government, who is trying to prevent bubbles and recessions in the economy. Tether is just being used to pump up bitcoin while whales are exiting with liquidity while fools buy in.
 
Prefect said:
Doesn't matter. It just shows that the very basis of Bitcoin is tied to fiat currency, tether or indirectly the U.S. dollar. It is just a shit show to trying to prove a currency that is free from manipulation but you are right back to where you started but this time it is being manipulated by crypto whales rather the federal government, who is trying to prevent bubbles and recessions in the economy. Tether is just being used to pump up bitcoin while whales are exiting while fools buy in.
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It is? If it’s directly tied to fiat then it would have risen proportionally to M2. Oh wait, that’s the S&P500.
 
Also LMAO at whales exiting you just love talking out of your ass I love it
 
Felya said:
Yes but who knows when that's going to be

Personally I wouldn't mind going back to trading BTC pairs.
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Do you like putting money into a rigged game? This is a game of musical chairs where some parties know in advance when the music is going to stop.
 
Rob Battisti said:
Also LMAO at whales exiting you just love talking out of your ass I love it
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Tether would not be fabricated to pump bitcoin if there weren't parties directly profiting from this. Tether isn't even backed anymore by the U.S. dollar. When it was designed, it was supposed to be a backstop but there has been no equity put into it has more of it has been printed. This pumping action has been done a bunch of times over the last few years. If this was just a currency, it would just be left to settle on whatever market demand there is for it rather than fraudulently increasing its value. People keep talking about inflation of the dollar but Bitcoin is no different except certain parties are directly profiting from the manipulation. Same thing with 90%+ Bitcoin transaction are fraudulent wash trades to give the illusion of high demand and value. This would never need to be done if it was anywhere close to its actual real price point.

You would just be more honest if you just said "I don't give a fuck about any fraud that is going on. I am just trying to get rich by finding someone else to hold my bag". I would have more respect for that rather than just denying what is happening.
 
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Prefect said:
Tether would not be fabricated to pump bitcoin if there weren't parties directly profiting from this. Tether isn't even backed anymore by the U.S. dollar. When it was designed, it was supposed to be a backstop but there has been no equity put into it has more of it has been printed. This pumping action has been done a bunch of times over the last few years. If this was just a currency, it would just be left to settle on whatever market demand there is for it rather than fraudulently increasing its value. People keep talking about inflation of the dollar but Bitcoin is no different except certain parties are directly profiting from the manipulation. Same thing with 90%+ Bitcoin transaction are fraudulent wash trades to give the illusion of high demand and value. This would never need to be done if it was anywhere close to its actual real price point.

You would just be more honest if you just said "I don't give a fuck about any fraud that is going on. I am just trying to get rich by finding someone else to hold my bag". I would have more respect for that rather than just denying what is happening.
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I’d be more open to talking to you but you are just making things up as you go.
 
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