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Cryptos are done


D-Hustle
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Not sure you guys even realize why coins have been down. News broke that US regulators allegedly sent subpoenas to Bitfinex and Tether in Dec. This is what both Dingo and myself both have been posting about in past. If news is factual and the money is not there, could get much worse.

 

https://www.bloomberg.com/news/articles/2018-01-30/crypto-exchange-bitfinex-tether-said-to-get-subpoenaed-by-cftc

 

 

 

Shady release of news though. The original Bloomberg article did not say that the subpoenas were sent in December. This was on the heels of a lot of other recent Tether FUD that has been circulating. Could be manipulation by media...or even Tether/Bitfinex itself, or could be a real problem.

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Was doing some reading on the tether situation last night. If it comes to light they don’t have the $2.2b in cash their supposed to, all coins will get absolutely buried.

If they had the funds in the bank it would be so easy to prove yet they don’t show any proof that they even have a fractional reserve of the 2.2 billion

The 2.2 billion accounts for what they assume is 20-25% of all the in flow of cash in all the crypto currency

So if it isn’t there it’s gonna be ugly

Back to 10,000 Btc for 2 large pizzas lol

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Not sure you guys even realize why coins have been down. News broke that US regulators allegedly sent subpoenas to Bitfinex and Tether in Dec. This is what both Dingo and myself both have been posting about in past. If news is factual and the money is not there, could get much worse.

 

https://www.bloomberg.com/news/articles/2018-01-30/crypto-exchange-bitfinex-tether-said-to-get-subpoenaed-by-cftc

 

 

 

Shady release of news though. The original Bloomberg article did not say that the subpoenas were sent in December. This was on the heels of a lot of other recent Tether FUD that has been circulating. Could be manipulation by media...or even Tether/Bitfinex itself, or could be a real problem.

 

the odds of tether actually having over $2 billion in cash sitting in the bank somewhere is roughly the same as me waking up a foot taller tomorrow

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The last big run (October-December) pretty much everyone in cryptos made a killing.  You couldn't miss.

 

Now, it's become a lot harder for buy and hold, and it wasn't until after the big run that a lot of people started paying attention.

 

Unless you're day trading or market making, you probably haven't made much (and probably lost) in the month of January.

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Wow that's crazy mike.

 

 

Say...what are manias?

 

manias are when people go apeshit crazy for something that isn't rare or special

 

cabbage patch kids, beanie babies, random dot com stocks, iphones, crypto currencies

 

why would someone wait in the cold for hours upon hours to get a toy or a phone when they can get it a week or a month later and not have to do that?  because people are dumb lemmings and only want to do what others are doing

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