Thread by @BambroughKevin

Everyone should be prepared for a liquidity drain that’s coming. Bitcoin is set to crash imho. Tether Holdings is 100% the biggest ponzi ever. It’s shockingly horrible truth that is finally getting man stream understanding.

Bitcoins are nothing more than the 1st of the 15,000+ bullshit coins with all sorts of stupid names and childish logos. All the unbacked coins are nothing more than digital fiat and requires suckers to keep feeding the ponzi.

What makes this crypto sector ripe destruction is the fact that Tether Holdings is being exposed as pure ponzi. The Comercial paper swaps it has entered into are a fucking sham. These guys are hiding the truth because the truth is bad. If the Comercial paper was good they show it

If they had good banking relationships they’d reveal them. You have to be an idiot to not appreciate this… it’s bullshit people. Pure bullshit.

Don’t believe the hype that somehow the fiat crypto coins are going to survive Tether blowing up.

My bet is nearly all the billions that went into tether will be at best paid out to people in pennies on the dollar.

The unregulated exchanges and digital ‘wallet’ creates will likely ‘socialize’ loses.

To understand what’s gonna happen picture the entire crypto world..

As one big entity. Billions of real currency has moved into that ecosystem. I expect much of those real dollars have come back out via exchange fees and trading and profit taking by the and paid to creators, developers, infrastructure, advertising etc to build out the coin world

There’s likely a small fraction of the billions of hard dollars that went in actually sitting in bank accounts around the world. As people fee this ecosystem we will soon find out that it’s out of hard dollars to pay out. It will be clear that everyone is trapped

You’ll have a digital wallet that is only viewable on your computer screen or mobile phone app. Yes you’ll be able to trade between pieces of shit.. but nobody is going to give you real word dollars for those digital tokens.

What everyone will soon realize is they paid hard dollars to play a crypto video game. Like a online poker game but not for real money that you can collect.

Like a fantasy stock market game and the coins are stocks.

I love the line the biggest risk to crypto is crypto. Cause you can create an infinite amount of coins.

Bitcoin could be replicated exactly and called Bitcoin 2, 3, 4 and so on

In fact global banks could just decide to create another enter exchange with there own coins

That’s the problem with fiat.

And people don’t want to trust the government to create currency but want to trust these fucks that make tether coins? Lol you’ve been had. You’ve been bamboozled, hoodwinked, greatest grift of all time.

I can imagine the responses I’ll get to this thread. Old news.. what ever boomer. I don’t understand finance. Lol.

Well I’ve read a shit tonne books on the history of money, finance and central banking and understand the system perfectly well.

I wrote off Bitcoin years ago know it’s a ponzi. So ya. I missed the boat and could of made lots of money playing the greater fool game that’s been going on. But ya know. I retired at 43 and have done just fine investing and compounding for 25 years. What’s new to me is Tether

But it’s easy to understand Tether Holdings. Claims to be amongst the biggest owns of Comercial paper in the world. But no one reputable trades with them and only one shitty little cayman bank admits they have an account with them? WTF? Smell it people. It’s over

There’s digital metaverse billionaires that are in for a shock. Their wealth is pretend and they’ve accomplished nothing more than making the Forbes 500 of the SIMS world.