I listened today to these 2 videos (link directs to 1st part) and as a nocoiner I can't really tell if it is just a bunch of conspiracies or the speaker should be taken seriously. What are your thoughts? I know it's a hot topic so please be constructive if you are going to reply. Thanks
I don't have time to sit here for 45 mins to watch a video on the internet, but Teether has put itself in a bad position from the start and I think when regulation comes into play then Teether is either going to be banned on US exchanges or regulated to the extreme. When this happens I think it's going to hurt the crypto markets for a little bit but after they will just continue to perform like they always have since we all know, crypto is here to stay.
The point was to understand how Tether is related to the current price of Bitcoin and if it is inflated artificially because they are trying to build the biggest scam in history or if the speaker is connecting some existing dots with a well-made conspiracy theory. To back some of the arguments Tether is being investigated as we speak. All we care in this playground is to benefit from it as traders. If the speaker is right, it looks like shorting Bitcoin is the best action possible at some point, probably at the moment when the Tether case is resolved.
There seems to be a lot of misinformation about this case everywhere I look, so below is the link to the case. https://law.justia.com/cases/new-york/appellate-division-first-department/2020/450545-19-11320.html Reading bitcoin acolytes' websites doesn't help to understand what is going on.
I don't think anyone is patient enough to watch this very long 45 mins boring video. even watching it for 5 mins could be agonizing.
Didn't watch the video. Kraken exchange owner once said that the Tether prints coincide with increased inflows of FIAT deposits to their exchange and he deems Tether legitimate. Anyways Tether has been used for years to cause fear, uncertainty and doubt. Look at the timestamps of when the tether news were being released - most of the time it's at market bottom. If you trade based on that information, you are just being played by whales. There probably will go something wrong with Tether at some point, but by the time it happens you will have lost so much money trying to make it happen, that you will give up on the narrative. So that when it actually happens, you won't be able to act on it, you might even go long bitcoin and be bullish at that point. We are all trying to be smart, but it's wrong. Be dumb, follow the price.