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RE: WOW - Starbucks To Be Adding Crypto Payments / Coincheck Exchange Recompense / Tether: BREAKING NEWS

in #crypto-news7 years ago

Guys, please actually listen to what Omar is saying about Tether. Them not going through with any audit ever is total horseshit. He makes that face because he's not trying to freak you guys out, but he is urging you to look into this issue. This is your money at stake. Your funds could be frozen at any exchange instantly and you would have no recourse as they exit scam you.

Most exchanges use Tether. Tether is probably about 20% of net cash inflows into crypto. That is not a small amount. That few exchanges have fiat conversion is going to create a disastrous scenario for those who still have coins and funds at exchanges.

This is not Mt. Gox. This will be larger. Please understand the implications of this as it relates to your investments' safety at the institutions that you place trust in. Please understand that this CAN potentially go on for much longer but it's just as likely to collapse very soon. They have tried very hard to paint the tape above the 10k line.

If you think prices will only correct 20% then you are misunderstanding the situation completely. The article I linked on Omar's last thread gives a detailed history of bitcoin's price and how it relates to Tether.

This shit will implode and yes the prices in fiat will fucking collapse but he's right, it's necessary for this to implode or else crypto will always have this specter looming over its head and that will continue to scare away legitimate investment in the industry. Going forward just keep your coins safe, keep yourselves informed and on top of the news, because it's going to get fucking wild out there.