1/ There is a ton of speculation on what will happen with Bitcoin and Tether on Jan 15th. Many people think Tether Armageddon Day where domains are seized, funds are frozen, and BTC/USD crashes while BTC/USDT skyrockets is coming. I am skeptical.
2/ I think that day will come eventually, but not on Friday. I am not a lawyer and I know almost nothing about legal proceedings, but I’ve seen many of these deadlines come and go over the past few years without any real consequences. maxbit.cc/tether-and-the…
3/ What may come out is a bunch of tether “FUD” aka true info about tether being unbacked. I suspect Paolo’s recent podcast was an attempt to sway those fears and front run the “FUD” with positive spin.
4/ Bitfinex and Tethers ultimate fear is not the DOJ or FBI shutting them down, it’s their customers trying to redeem $10 billion USDT for USD. This is what will ultimately sink them. It’s why the coming BTC crash will be so violent.
5/ The government will pick up the crumbs and seize a bit and pay people back 10 cents on the dollar five years from now, just like they did with Mtgox in my opinion.
6/ Bitfinex will do everything in their power to delay and prevent the inevitable crash. This isn’t trading advice, but I am a contrarian and I actually think Friday is set up well for a short squeeze. Bears will be demoralized when tether is still printing 200M/day come Saturday
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