• Actually in this youtube video this guy talks about bitfinex and the shady stuff they were doing.

    but uh, kinda neat I wasn't sure how seriously to take the guys video, I didn't actually watch all of it.
  • The same guy made a more recent video about this:

    It's extremely worrying.
    I have personally been discovering and studying the crypto landscape for a few weeks, wondering if the latest 50% correction in the BTC price, as well as a more reasonnable Mayer Multiple, were a good entry point in the market.
    Well, now that i found out about this potential huge scam, definitely no chance i will enter this market until the CFTC says it's not a scam.
  • Well, y'kno just because one exchange is doing shady things doesn't mean there are other exchanges you can go to. Just do your research! and I don't think even if the exchange exploded or news found out where everyone involved with bitfinex eats children in their spare time, it would rly kill crypto in the long term... but ykno... don't rly trust me lol just do ya research! I think now is an interesting time to think about buying, but ykno this thing very much seems lke a bubble so maybe not buying until a large major crash could be the wisest move... Also I'm not invested at all I just enjoy watching it, I don't have enough capital to feel good about even a small position in bitcoin or other cryptocurrencies.
  • edited February 2

    This really looks like a textbook case crash.
    85% correction for nasdaq, that would bring us at 3000 for bitcoin. I still won't enter at 3000 as long as the bitfinex investigation is not ended.

  • Your chart is outdated (same chart by the same source, but up to date):
  • Bitfinex is a structural threat to the market. Tether as well. But all of these are known and have been existing for a long time.

    I do not think that Tether going down will end crypto.

    Contrary to popular believe, historically most bubbles ended without a triggering event and just panic of investors realizing that the fear of missing out is over.

    Tether will mainly destroy investors who do not know what they are buying. For long term investors that might actually be good.
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