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Forum » bitcoin price is fake asf? are we overpaying for inflated coin? INCOMING CRASH??
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Thread: bitcoin price is fake asf? are we overpaying for inflated coin? INCOMING CRASH??

post 1628941553 01-18-2021, 08:56 AM
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bitcoin price is fake asf? are we overpaying for inflated coin? INCOMING CRASH??

Originally Posted By PenorBrahNoHomo⏩
Irrelevant to the thread but USDT is likely fraudulent and not backed by the assets it claims to be backed by. The deadline for handing over their documents to the NY OAG was Friday, don't know how long it will take for it to fully come to light.
I remember back in 2017, questions swirled on whether tether was backed by USD 1:1. They claimed it was 1:1, now they say it was 74% backed.

Supposedly Tether is owned by the same person as the exchange Bitfinex and he manipulated the rise in price of bitcoin in 2017 by trading back and forth in his exchange USDT for BTC.

So we all paid an artificially inflated price for bitcoin?
The suits were consolidated in the State of New York in January of 2020, and Poloniex and Bittrex were added as defendants in June of 2020 for their role as facilitators.

The suit identifies two wallet addresses which it is claimed were used by Bitfinex to perpetrate the scheme on each exchange and that both exchanges knew the wallets were being used by Bitfinex to inflate the price of BTC.


???
post 1628941633 01-18-2021, 08:57 AM
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did not read but i will never invest a penny into BTC unless it comes back down to around $10k -- and even then I'm just buying one BTC to have some skin in the game in case it really does moon (ded fkn Srs)
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post 1628941873 01-18-2021, 09:00 AM
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Just realize coincels that what makes something a good investment (high ROI) and a good currency (stable and predictable store of value) will forever not be compatible. Buying bitcoin is just hoping there is a bigger idiot out there who is willing to pay more for it.
post 1628941993 01-18-2021, 09:02 AM
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IN!

post 1628942753 01-18-2021, 09:10 AM
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Interesting read and where I got that from:

https://crypto-anonymous-2021.medium...e-f8dcf78a64d3
post 1628943003 01-18-2021, 09:13 AM
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The fact that people make this post while using the most abused, baseless, arbitrary global paper monetary system of all time is a bit amusing.

Green paper is fake af, are we spending all of hours toiling and producing for an overvalued piece of paper? INCOMING CRASH??
post 1628943013 01-18-2021, 09:13 AM
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Post deleted by user
post 1628943203 01-18-2021, 09:15 AM
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Originally Posted By DizzySmalls⏩
The fact that people make this post while using the most abused, baseless, arbitrary global paper monetary system of all time is a bit amusing.

Green paper is fake af, are we spending all of hours toiling and producing for an overvalued piece of paper? INCOMING CRASH??
But the dollar is the world reserve currency, backed by the world's most powerful military, and yes it's value is expected to decrease a lot pretty soon.
post 1628943503 01-18-2021, 09:19 AM
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Originally Posted By DizzySmalls⏩
The fact that people make this post while using the most abused, baseless, arbitrary global paper monetary system of all time is a bit amusing.

Green paper is fake af, are we spending all of hours toiling and producing for an overvalued piece of paper? INCOMING CRASH??
Green paper is backed by the US economy. The strongest in the world. Bit coin is backed by nothing. It's ether. Monopoly money. It's going to be worth as much as a Confederate dollar eventually.
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post 1628943593 01-18-2021, 09:21 AM
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BTC is going to $200k+ by December and there is nothing you can do about it bucko
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post 1628943653 01-18-2021, 09:22 AM
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What I dont get about the supposed BTC ballers is who will ever pay them their billions for the BTC?

Stuff like Coinbase will never cash you out. They dont have enough money even if they wanted to.
post 1628944493 01-18-2021, 09:33 AM
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Originally Posted By PenorBrahNoHomo⏩
But the dollar is the world reserve currency, backed by the world's most powerful military, and yes it's value is expected to decrease a lot pretty soon.
Originally Posted By Kev1972⏩
Green paper is backed by the US economy. The strongest in the world. Bit coin is backed by nothing. It's ether. Monopoly money. It's going to be worth as much as a Confederate dollar eventually.
In reality it's based on a printing press and the willingness of investors to finance it. Without a relatively fixed supply, it will be abused and inevitably fail. The second they push a little too far on the debt funded spending vs. the GDP and the military power no longer frightens foreign investors, and interest rates cannot be held down through the usual tactics, it's over.

The healthcare costs alone that are coming around the bend would have tor****ed our whole system, but now with this COVID spending and a slew of new costs like fighting climate change and making college "free", it's almost to the end already
post 1628944813 01-18-2021, 09:37 AM
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Bitcoin is massively overvalued. It is fundamentally flawed and only used for gambling/speculation. It drains more value than it gives and is a cancer upon this world that help to destoy the planet.

And tether is probably fueling the price. Tether is shady. Deltec, bitfinex and tether ltd. A bank, an exchange and a money printer all operated by the same people.
post 1628945673 01-18-2021, 09:48 AM
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The answer to the OP is yes, yes, and yes.

/thread.
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post 1628945873 01-18-2021, 09:51 AM
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So ****ing what?

Just take profits now then. Can we all stop lying to ourselves?
post 1628945883 01-18-2021, 09:51 AM
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no **** sherlock
post 1628946313 01-18-2021, 09:55 AM
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Originally Posted By DoctorKazama⏩
no **** sherlock
you still having trouble with coinbase?
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