Bitfinex + Tether = Cryptocurrency Crash?

would you watch this video if you want to save a ton of money on the next crash because I'm going to show the most probable location for a crash I'll show a little bit of evidence for it and I'll provide some alternatives for how to get out of that a long story short the combination of BitFenix plus tether to me looks like a crash coming a crash coming for everything that's on BitFenix a crash coming even for tether and potentially for some of the other currencies that aren't even directly affected for example the scrap price of steam might crash even though it's not on BitFenix or traded in tether it just might crash some because of the Bitcoin price however I feel holding any Bitcoin aetherium iOS or iota makes us extremely vulnerable especially if we've got it on bitch track I mean BitFenix excuse me they'll some big Phenix because BitFenix is what the main place or one of the main places the four of these are traded a bit Phenix crash equals all of these crashing also I'll first show a little bit of the evidence now lots of things like this are just gut feelings and guesses and sure in 10 years you could say I was totally wrong or totally right the question is which one is more helpful if you want to hedge your bets I would absolutely say do something besides holding tether at all costs have some diversification on that let's look at take a look at the USD t-this is the abbreviation for tether let's look at some of these recent news stories tether presses bring another 50 million to the market tether shenanigans continuous supply increases tether claims 30 million dollars in US dollars token tether coming the rescue as Bitcoin slides blow the story of tethers is becoming stranger stranger equals bad tether continues to issue USD T and an alarming rate tethers USD affects more markets than Bitcoin alona the I'm just reading these news stories in the order they've appeared in Google I just did this beforehand I haven't even seen some of these teller issued another 20 million u.s. dollar teller tokens tether update 30 million stolen tether controversy and mystery now a huge section of the entire market is currently relying on this strange cryptocurrency named tether it gets worse much worse when we look here's the little news story and I've heard this from several other people also same thing tether the company behind a dollar pegged cryptocurrency tethers supposedly worth a dollar but what happens if that doesn't work what happened recently tether blamed a malicious action by an external hacker interesting theft of 30 million dollars worth of tether this just happened a few days ago maybe 10 to 20 ish days ago now now let's look down this is on coin desk dot-com fairly reputable cryptocurrency but everything has its ups and downs now here's the nice little line in here unclear relationship between tether and the troubled British Islands based Bitcoin exchange BitFenix long-standing allegations the exchange has been using the asset exchange in fraud and market manipulation complicating matters is that the companies are said to share a common ownership that's really really really bad when I'm about to show you this data now tether if you are just casually trading on something like let's say bitch Beatrix over here let's just say you're trading on bitch wreck Germany and paid you just see that there's this little dollar sign and you think okay well I'll just use this this little market here we'll go over here scroll down look this is us DT okay cool this is about like a US dollar right it's about the same as US dollar well these are all tether markets Beatrix and Polonius among other exchanges to the biggest use have a lot of volume on tether but tethers not real money especially when you consider who owns tether and when we take a look at this I just logged into my BitFenix account as you can see I'm a United States customer your account is flagged as belonging to an individual who is a United States resident please be advised that bid FedEx is terminating its relationship with us individuals u.s. individuals must cease trading and funding activity now hold on hold on wait a minute now that that looks real bad when combined with this news story but let me just show you something else tether now a tethered the two main sites its traded on bitch racks and plone iax yes and another this is the Chinese Bitcoin exchange I believe and more Asian exchanges here now wah-wah-wah hold on bid Phoenix number six forty five million dollars from US dollars to tether within the last 24 hours now hold on the number one place I can actually turn a tether into a real dollar is on a website that is not accepting US customers the US government issues US dollars last time I checked now bridge FedEx is the main place to change US dollars to tether and back and forth so how am I going to change ultimately if you can't change US dollars and tether back and forth for $1 the whole tether system breaks down I'm gonna say that again because it's really important if tether cannot be exchanged for one actual US dollar which can be withdrawn into a bank account oh man that made me coffee so seriously excuse me I'm gonna say that again if you can't change $1 in teather into $1 u.s. and actually get that money in a bank then it's all imaginary then it's all just whatever the market offers for it and that's a huge problem if you consider these exchanges here tether is being used as a way to trade back and forth with $1 that means in theory when someone is buying and selling these on these market let's just look at the US dollar tether or tether on bic treks and my favorite exchange for just trading altcoins that means every time someone is buying and selling someone is on each end of the trade that means there is a ton of tether on bit tracks there is a lot of tether on Polonia X that means a large part of the price is based on what tether is trading for because a ton of the volume is our and our trades in tether now you'll notice the next website you can use Kraken however how easy would it be for Kraken to remove that's the USD T 2 USD trading pair that's a very small amount of exchanges and you can see there was a fairly small volume of tethered a US dollar on Kraken so if you're looking that it's not very easy to turn tether into real US dollars it's very easy for the price of tether and the entire tether blockchain to become a complete disaster where the price of tether all the sudden could go to 50 cents if let's say there's a crash on bit FedEx right now this whole bit the next game is a house of cards and the house of cards comes down BitFenix fire you know someone actually reveals what's really going on there and leaks that out or tether there's all kinds of ways this mess at BitFenix leaves the whole market down now here's it gets even worse I'll show you something else out of all the exchanges BitFenix is number one and it's largely on imaginary money so let's look at these rankings by exchange here if my Google Chrome browser will work correctly Google so BitFenix one of the main places that trading is going on is on bid Phoenix but bid Phoenix already had a huge hack a year ago and the question is are we going to see another one right now a ton of volume on bit Phoenix a billion dollars and 24 hours back and forth between Bitcoin on what to me is a completely sketchy US dollar whether you can actually get a US dollar out of bit Phoenix to me is very questionable given bit Phoenix's relationship with the bank's given this disclaimer that is on bit Phoenix's own website this is what's on their website this one I get when I log in I don't trust that at all I don't trust it at all and you're telling me this is the number one exchange in terms of volume everything that's being exchanged on here is that risk of a huge crash as well because for most of these bit Phoenix is also the number one volume so if we look at Bitcoin BitFenix is the number one volume but if we look at hi Oda I haven't even looked at this yet but sometimes you don't have to look you can just be no you're right iota number one place is being traded almost four times as much as anywhere else is on BitFenix do it again for aetherium I don't know if it's number one on theorem we'll find out it's probably number one or number two on markets Oh Biff NX number one on aetherium let's go over here and obviously this is another iota pair Bitcoin cash what's Bitcoin cash being traded on well a Bitcoin cash is actually being traded on lots of other markets but it's also up there significantly on BitFenix and then we go down here to eos where's the eos being traded gos is being traded mostly on or significantly on bit fin X if you're looking at this data this does not look good the US dollar versus tether the tether problems and then these BitFenix suddenly putting this disclaimer up and not allowing US customers to participate anymore this looks really sketchy a combined with BitFenix being hacked before combined with BitFenix losing banking before combined with bit fin X's lack of transparency about exactly how much money is in their account versus how much money they're supposed to have on hand for customers this is looking like it's all going to come down with a combination of BitFenix and tether what I would imagine at some point there'll be some problem with withdrawals on BitFenix if there's not already someone will put in a massive withdrawal on BitFenix or something another hack or something will happen and then there'll be a big selling wave and when the problem will come in is during a selling wave because right now while everyone's buying it's all good we're popping bottles or whatever we're celebrating we're making money and I wouldn't be surprised if Biff NX is just trying to go through all this period of success and hope that all the mistakes and all the problems can essentially be made up for by all the new money coming in and maybe that will work I wouldn't want to have everything on BitFenix though maybe it will work maybe everything will come through just fine maybe there won't be any crash maybe it'll all work out just fine right now it looks extremely delicate I certainly wouldn't want to have a bunch of money on BitFenix when BitFenix is not allowing us customers to trade anymore who suddenly just blah after losing banking and who also has a mysterious and sketchy relationship with tether which pretty much allows in theory BitFenix could just print new tether as desired BitFenix if they wanted to could just sit there and double lend I'll lend you this dollar tether I'll lend you this the tether could be lent out 10 or 20 times against an actual US dollar on hand I don't see any way looking at the data that there's actually that much u.s. dollars available against US dollar tether and the problem will be whenever the selling wave happens and people want to cash out and that could be triggered by a news story could be triggered by a hack whenever that happens if you got your money and tether and bit FedEx you may discover oh oh I can't turn this into real money or whatever rate I'm going to get is drastically reduced for example these little US dollar eur/usd t markets on here all the sudden the price could absolutely blow up from for example on coinbase it might be eleven thousand dollars for a Bitcoin but on bit tracks for a USD T it might be twenty five thousand dollars to change your USD T to BTC the prices for these could essentially blow up at any moment therefore I encourage diversification when it comes to tether I would say this is the area where there's almost no diversification now I've talked to so many traders that are diversified on things like Bitcoin while I'm not holding all Bitcoin I've got some Bitcoin I've got some aetherium I got I got some steam I've got some neo or whatever and then all that's being traded back and forth between tether and then often when big profits are when you've made a killing because you were right and you sell all that on bit tracks and you're just holding it and tether because you don't want to lose any money and you're waiting for something to buy into are you waiting for another down time to buy and the problem is there's probably a ton of tether just sitting on the sidelines on here having sold out of these high prices and then when there's some kind of issue or a price crash our inability to cash out there won't be any way to turn that into the amount of money it was supposed to be if I had any US dollar tether or just tether for short it looks like US dollar tether cuz it's USD T if I had any of that I'd get rid of it I wouldn't hold any of that right now I have nothing on BitFenix I've completely I'm technically maybe have four dollars here or something I've cleaned out my bid Phenix account I don't trust BitFenix because of banning US customers that to me is a clear sign of sketchy behavior it's the same thing most of us do in person if we if we know we're deserving of getting in trouble if we've know we've done a lot of things wrong then what do we try and do we start trying to protect ourselves if we feel like we're a good person we trust other people we don't need to be protecting ourselves all the time I know when I felt like I was a bad person I needed things like guns I needed things like oh all the stuff baseball bats I needed all these protections all the time I needed knives around in case someone came in I couldn't get to my gun I needed a shotgun and a rifle and a pistol just in case I couldn't get to one or just for each different situation when I felt like I was a bad person when I knew I was doing a lot of things wrong I felt like I needed to protect myself from other people BitFenix pulling out of the u.s. to me is a clear admission of wrong and it's a desire to then protect itself be Phoenix essentially to me and the message is saying we've done a lot of things wrong and we're scared of the US government we're scared of our customers in the u.s. finding out what we've done suing us and we're going to pull out we're just going to pull out right now we're essentially going to just hold on to any US customers that weren't paying attention and left money because if you read the way they do it if you're a US customer you hopefully you may or may not be able to actually get your money back by bid FedEx just doing this bit FedEx is essentially going to be able to just keep any US customers not paying attention be FedEx will essentially just be able to keep all those US dollars all that customers money and not have to pay that back that's sketchy that's not trustworthy and I'm saying this out of love because I'm very grateful BitFenix has made it so easy to trade that bit FedEx has empowered exchanging all these different currencies I'm grateful for that I've used bit FedEx I made to Charles on and I put it my courses I love bit Phoenix don't get it twisted I love bit Phoenix and I'm telling this to Biff Finex is someone out of love that look you're messing up you're slipping you need to do better you need to get honest and start telling everyone all these bad things you need to just get these out there and stop hiding all these messed up things that are going on behind the scenes you need to get honest with the customers and with the community you need to tell us why you're pulling out of the US what are you scared of what are you afraid of that's what needs to happen for me to have essentially a restored relationship with BitFenix until then I'm calling it like I see it be Phoenix and tethers going down I'm yelling timber it's going down I'd get everything off of BitFenix I'd get rid of all the tether before it's too late cuz once it's too late you lose every or almost everything that's my advice I'm not right in the short-term lots of times that's fine I said yes I see what I did before and how things are today I said to sell a OS and 50 cents and he's $3 today I'm not right about everything that's okay I'm human but hey you saw this for a reason today you didn't see this by accident you didn't make it all the way to the end this bikes and maybe this is a message you need to avoid that big train coming and running over your investments in your cryptocurrency I'm BitFenix that maybe is being held in tether somewhere else I don't know maybe this is you you've you've got this issue said he's wrong I'm going to put everything in the BitFenix and I'm gonna dump it all in the tether right now good good because I'm already following my own advice if you want a suggestion I think steam is a really good thing to put in I've got all my money esteemed so if you search for steam I've got all my money's in steam and steam dollars if you're looking for an alternative to USD tea I think steam dollars really good one and more steam dollars the more steam dollars pumps the more steam pumps – so there you go that's it I love you you're awesome thanks for getting all the way to end this I hope this is helpful for you if you ended up saving a whole bunch of money if I'm right and this thing crashes and is a mess please tell me how much money you saved because of this please I'd love to see that Jerry you saved me a hundred thousand dollars cause of this little video you shot at home please thank you Thank You Jerry you cost me a hundred thousand I sold everything and then it went up

28 thoughts on “Bitfinex + Tether = Cryptocurrency Crash?”

  1. i think that both bitfinex and especially tether bring a lot of positive changes to the crypto currency market and help it grow. there are no real reasons for worrying about them doing any kind of manipulations

  2. so many speculations about bitfinex and tether but as far as I know it is legal to be shareholder of both these projects.

  3. Seems to be anti-btx fud lol. Let's leave btx alone as it's ok for the profs and still one of the tops 🙂

  4. two years passed – in 2017 i was thinking tether is a scam for a long time..but now i changed my opinion…and u?

  5. It appears that your prediction of Bitfinex's and Tethers collapse is probably about to be vindicated with the recent academic research paper by Griffin & Shams showing price manipulation of BTC by Bitfinex through the 'printing' of USDT (that in all likleyhood was not backed by real USD). This could not have come at a better time for the newly appointed Valerie Szczepanik (Associate Director of the SECs Division of Corporation Finance and Senior Advisor for Digital Assets ).

  6. You were way ahead of the rest of the community bro! It's now clear that these ass holes are manipulating the market!!

  7. You said bitfinex is imaginary money mostly. I am rather new to this and isn't all money imaginary i.e., $1 = 0001 binary code?

  8. hi can you post one more video related to tether , i am pretty sure they are the only cause of bitcoin price drop , if you notice more tether are increased more sudden drop in bitcoin price ,
    i am pretty sure they buying from people bitcoins and throwing back into market causing massive price drop ,
    since they have nothing to loose because it is not backed by u.s dollar nobody ever seen their funds ,
    i think exchanges need to throw out this shit coin before everybody burnt , it will be end of crypto currency wonderful technology ,
    any coin which is exchanges directly with te

  9. Jerry, have you heard of TrueUsd coin? Alternative to tether coming out i heard. Here is the article

  10. ahem,,,, 30 million dollar hack doesn't even put a dent into tether it adds 100 million a day. That's just pocket change. And what cryptocurrency crash? The net effect of tether failing is a flight out of tether into bitcoin, which makes it go up. A non-event.

  11. This guy has a squeaky voice that drives even my dogs into a frenzy. Yes its all imaginary like Jesus. Just believe and keep accepting it to be true and its all good. Bitfinex is the Jesus or is it the US dollar or tether. They are all one in the same I call it the Trinity.

  12. Thanks Jerry mate always very helpful, Tethered up last night felt like it was a good move until I realised I didn't know a thing about them!

  13. Check the Tether terms and conditions, and weep. You have no right of exchange into USD, so once you buy Tether, you're on your on your own sunshine.

  14. What about using USDT as a means of arbitrage. Buying it, transferring and buying another reliable crypto like ETH or XRP. Afterwards transferring back and dumping it on an exchange that once sold it gives you a USD balance instead. The risk is momentary while you buy, send it and buy the alternate crypto.

  15. Then WHERE do investors go to park gains & assets when they don't want to be in any cryptos, and wish to maintain a stable dollar (or Euro) peg ? At least until they wish to come back into cryptos ?

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