Seein lots of .001-.05 btc sales being met buy 15 btc buys in this dip. I think the Saylor thing is happening. Ppl cashing out their lambos while Uber rich secure the market
I know that I put in $6,000 yesterday and it's worth about $5,000 now. Really wish I would have waited a day, but o well.
While what they are saying is true. What Tether did is bad as well. IDK why I have 10k tied into people with laser eye profile pics.
user15000 is there a middle of the road summary of the settlement? Tether seems to be doing a victory lap and the fine is low but the comments from Letitia James don't seem like they were cleared as being fully clean.
https://www.coindesk.com/ny-ags-850m-probe-of-bitfinex-tether-ends-in-an-18-5m-settlement In a statement, New York Attorney General Letitia James said, “Bitfinex and Tether recklessly and unlawfully covered-up massive financial losses to keep their scheme going and protect their bottom lines. Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”
However, the settlement said, “As of November 2, 2018, tethers were again no longer backed 1-to-1 by U.S. dollars in a Tether bank account, because a substantial portion of the backing in the Deltec account had been transferred to Bitfinex to make up for the funds taken by Crypto Capital, while the corresponding funds transferred from Bitfinex’s Crypto Capital account to Tether’s Crypto Capital account were impaired by Crypto Capital’s actions.”
You think it drops a bunch more? I texted my brother to buy ETH at ~$1,425 and he bought two at $1,450. He's already up $300
What tether did has absolutely nothing to do with btc, its software, its value proposition, etc. I’d be totally fine with tether disappearing tomorrow and being replaced by something more transparent. Sounds like they’ll now do quarterly reports on their reserves. This is what all of the people concerned about Tether should have wanted as a result.
I’m on calls like all day and haven’t had a chance to do more than scan Twitter. My read is that the AG is kind of puffing her chest after the fact if the entire thing settled for a slap on the wrist.
She's just the NY AG so there's not much she can do past ending their trading in NY. While it won't affect them at all, and is big picture just a slap on the wrist, that's about the limits of what she can do.
might be not thinking this through, but how about a fan of icon in here? from what I've read, many here are adding on an ongoing basis.. a tag when it dips might happen to coincide closely enough with a planned weekly deposit that it ends in a + situation over the long haul for all the regular depositors. idk just throwing it out there
Maybe but I'm not an expert on what the NY AG typically fines. It just seems like Tether is saying no wrong doing while the AG is saying different. I don't think it matters to BTC at this point fwiw.
they can do more than 18.5 million. The no wrongdoing thing from tether is likely some lawyer speak technicality though. like in college I got a disorderly house ticket. I plead no contest. The judge didn’t charge me as guilty but I still had to pay a fine.
Like I said, not trying to make a "Oh this will end BTC" argument or anything close to that. BTC is beyond being affected by Tether at this point imo. Just the Tether comments and crypto twitter and even some itt made it out like Tether was squeaky clean and none of the accusations were true but the NY AG clearly disagreed. The NY AG literally said some fuckery was going on.
Yeah I’m more arguing w the ghost of Husk Guy who acted like crypto was going to disappear because of this.
They bought $50 million in October And I forgot about my bisq deposit of $150 from October. I transferred it to my Ledger wallet as a measly $625 over the weekend. Sucks to be them.
Oh I know. My entire Twitter feed was btc guys making fun of the fed’s system crashing. I think that’s the more important point.