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[Official] Crypto Currency Chit Chat Group - Part 5

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Old 24-02-2021, 01:37 AM   #5941
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Gemini withdraw to DBS multi currency is free hor?
dunno about gemini but dbs will deduct about S$10
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Old 24-02-2021, 01:55 AM   #5942
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facepalm. they basically confirmed to the world that tether was never fully backed and at various periods were only 25% backed. basically good luck holding something that can become worthless anytime if some other fool doesn't want to buy it from you at 1:1 rate.
the "recovery" that you are seeing is people dumping their worthless monopoly money for coins and other clueless people thinking that is representing the real price against real usd. before all this senseless printing happened they only had 400m of usdt in circulation. now they have 34b. now take that percentage and discount current btc paper value.
Again, if NY has found a real smoking gun, they wouldn’t have settle for a slap on the wrist with a feather. Despite their tough language in the release, all this does is announcing that they did not find much that can be used to heavily punish them. Hence the rebound that is now ongoing.
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Old 24-02-2021, 02:13 AM   #5943
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It’s not the actual outcome that matters, it’s the findings, means really a lot of blank “counterfeit” tether out there. Wonder how many other companies are doing this also
Actually it is all about the outcome. If NY had found something drastically wrong, they’d have shut down Tether right away or at least suspend their ability to issue new USDT and continuing to build their market cap.

All NY did was slap a small fine and asked Tether to send them quarterly reports for 2 years to prove that USDT is backed 1 to 1 by corresponding assets. What this does is basically say NY will be looking after the users of USDT for the next 2 years and in the short term, will be safe to use.

Look beyond the bluster in the NY AD’s news release. This is a positive outcome for Tether since they can put this investigation to bed by paying a small fine and doing some extra paperwork for the NY AD for 2 years.
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Old 24-02-2021, 02:22 AM   #5944
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Again, if NY has found a real smoking gun, they wouldn’t have settle for a slap on the wrist with a feather. Despite their tough language in the release, all this does is announcing that they did not find much that can be used to heavily punish them. Hence the rebound that is now ongoing.
sigh. stupid no cure. they are forcing tether to disclose all reserves for next 2 years. means that tether cannot anyhow create fake coin out of thin air anymore for the next 2 years. now look back at the last rally. it coincided with tether DOUBLING THE USDT IN CIRCULATION. now use your brain to think a little what that means without new usdt.

if tether does dare to do some funny **** again, they set it up for law enforcement to seize their accounts.

good luck, you will need it in life.
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Old 24-02-2021, 02:25 AM   #5945
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Wa round 3
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Old 24-02-2021, 02:29 AM   #5946
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so people HODLING CDC is banking on the exodus of people from the ETH network despite ETH2.0 in the works?
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Old 24-02-2021, 02:33 AM   #5947
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Wa round 3
trend changed already you should count the pumps instead of dumps
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Old 24-02-2021, 03:34 AM   #5948
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Woke up at 330am to a dump lolol..
This time i dont care just gonna hodl my coins
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Old 24-02-2021, 03:40 AM   #5949
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lol , trolls only crawl out when there's a small price correction .

now still way above S2F model , >$100K before August .

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Old 24-02-2021, 04:21 AM   #5950
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remember the "audits" that were not audits? you dare to hold this rubbish as equal to 1 usd? i have a bridge to sell you..


The OAG’s investigation found that, starting no later than mid-2017, Tether had no access to banking, anywhere in the world, and so for periods of time held no reserves to back tethers in circulation at the rate of one dollar for every tether, contrary to its representations. In the face of persistent questions about whether the company actually held sufficient funds, Tether published a self-proclaimed ‘verification’ of its cash reserves, in 2017, that it characterized as “a good faith effort on our behalf to provide an interim analysis of our cash position.” In reality, however, the cash ostensibly backing tethers had only been placed in Tether’s account as of the very morning of the company’s ‘verification.’

On November 1, 2018, Tether publicized another self-proclaimed ‘verification’ of its cash reserve; this time at Deltec Bank & Trust Ltd. of the Bahamas. The announcement linked to a letter dated November 1, 2018, which stated that tethers were fully backed by cash, at one dollar for every one tether. However, the very next day, on November 2, 2018, Tether began to transfer funds out of its account, ultimately moving hundreds of millions of dollars from Tether’s bank accounts to Bitfinex’s accounts. And so, as of November 2, 2018 — one day after their latest ‘verification’ — tethers were again no longer backed one-to-one by U.S. dollars in a Tether bank account.

As of today, Tether represents that over 34 billion tethers have been issued and are outstanding and traded in the market.
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Old 24-02-2021, 05:42 AM   #5951
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Am I going to be a bag holder?


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Old 24-02-2021, 05:51 AM   #5952
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Elon talk too much. Probably sold all beforehand. Or else why jjww about btc price.

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Old 24-02-2021, 05:54 AM   #5953
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the report said that tether may not have the money in 2018 but it fully backed now

many people in the industry already said it good news. plustwo is a industry expert who think it bad news

Last edited by lordofthering; 24-02-2021 at 05:57 AM..
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Old 24-02-2021, 05:57 AM   #5954
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Microstrategy ceo said something interesting

you cannot redeem out BTC from grayscale. Does it mean when someone buy BTC from grayscale, BTC is effectively burned/destroyed? then the BTC supply is actually very low
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Old 24-02-2021, 07:29 AM   #5955
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Is this the beginning of the end?

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