DON'T GET TOO BULLISH!
Okay, I'm just gonna say it. People have the attention span of gold-fish. We cannot forget the storm that is brewing and the bullshit they're setting up.
For starters, don't forget about SBF and FTT. But wait, what was even before that? The Evergrande Situation? And then what about before then/around that time...(See, I'm guilty of it too), but there was there USDT nonsense before that....and what's kind of driving it all? Bitcoin!
So, they figured out how to manipulate Bitcoin in a way that it wasn't meant to be manipulated. Instead of it being "non-hackable" and "non-inflationary" this is what they managed to do. And I need you to really think about what I'm about to say:
We're going to fast-forward past any tin-foil involving BTC and it's creation...Let's go to USDT:
Tether (USDT) is a stablecoin that is designed to maintain a value of 1:1 with the US dollar. This means that for every Tether token issued, there is an equivalent amount of US dollars held in reserve. The purpose of Tether is to provide a stable alternative to cryptocurrencies such as Bitcoin, which can be highly volatile. It is widely used as a store of value and a means of exchange on cryptocurrency exchanges, where it can be used to trade for other cryptocurrencies.
The answer to the question “What is USDT?” involves four specific parts:
USDT is an abbreviation for the term United States Dollar Tether
United States Dollar Tether (USDT) is a blockchain-based cryptocurrency
USDT is also known as Tether
USDT is the symbol under which Tether tokens trade
But USDT is much more than just those four details. At its heart, it’s a centralized, fiat-collateralized stablecoin.
(vauld.com/blog/what-is-usdt/)
Let's see what my good friend ChatGBT says; which by the way, exists only to steal your ideas and the collective human consciousness. It's the same reason why Elon Musk really wanted Twitter for 54b when he could have easily bought or build his own social media platform for a fraction of the price. Elon wanted the data of the human mind and social interaction. That's why it was such a fight with the bots, and why he also immediately went to a "Free Speech" platform (Even though they all did at the same time. Stuff you see on Youtube now you would have never saw 1-2 years ago...or since 2020, but I digress) Elon needed the bots gone because it corrupts the data (You wouldn't want to upload AI into AI under the impression that it's human behavior.) and he wanted the free-speech because people's voices have been politically censored for the last like 10 years, progressively getting worse and worse each year, and then before you know it, the entire data is full of fake human interaction and not the true nature and opinions of people, which is why he needed free-speech. Elon obviously has plans for some insane AI, and my guess is it involves nueralink, and I for one will not be participating in that, and those of us that don't are going to get left in the stone ages. Okay, my bad, back to ChatGBT/USDT. Here is a convo we had.
Me: When did USDT go public?
ChatGBT: Tether (USDT) is a stablecoin that is pegged to the US dollar. It was first issued on the Bitcoin blockchain as an ERC-20 token on the Ethereum network in October 2014. It later added support for other blockchains such as Bitcoin Cash, Litecoin, and TRON.
Me: "Tell me more."
ChatGBT: Tether (USDT) is a stablecoin that is designed to maintain a value of 1:1 with the US dollar. This means that for every Tether token issued, there is an equivalent amount of US dollars held in reserve. The purpose of Tether is to provide a stable alternative to cryptocurrencies such as Bitcoin, which can be highly volatile. It is widely used as a store of value and a means of exchange on cryptocurrency exchanges, where it can be used to trade for other cryptocurrencies.
Tether was first issued on the Bitcoin blockchain as an ERC-20 token on the Ethereum network in October 2014 by Tether Limited, a company based in the British Virgin Islands. Since then, it has added support for other blockchains such as Bitcoin Cash, Litecoin, and TRON.
Tether is one of the most widely used stablecoins in the crypto market and is considered to be one of the most important players in the stablecoin space. Despite this, there has been some controversy surrounding Tether, with some critics questioning the transparency of the company's reserves and how it manages its funds.
Me: "Have they been under investigation or public allegations or involved in any alleged scandals or fraud?" (I already knew the answer to this).
ChatGBT: "Tether and its associated companies have been subject to a number of investigations and public allegations over the years. The most notable of these include:
-In April 2019, the New York Attorney General's office announced that it had launched an investigation into Tether and the cryptocurrency exchange Bitfinex over concerns that the companies had covered up a loss of $850 million of co-mingled client and corporate funds.
-In January 2020, the U.S. Commodity Futures Trading Commission (CFTC) also announced that it had subpoenaed Tether and Bitfinex as part of a probe into whether the companies had manipulated the cryptocurrency market.
Some critics have raised questions about Tether's reserves and whether the company truly holds enough US dollars to back all of the Tether tokens in circulation. Tether Limited has undergone a number of audits by different firms over the years, but some have criticized the scope and methodology of these audits.
It's important to note that Tether and Bitfinex have denied any wrongdoings and disputes the NYAG's allegations. Furthermore, Tether has also been working closely with authorities and regulators to address any concerns and to comply with laws and regulations.
It's worth mentioning that these investigations are ongoing, and no formal charges have been filed against Tether or Bitfinex as of this date.
It's important to note here that Tether's website used to say that they will follow a consistent and constant audit of all dollars and tokens, ensuring a 1/1 ration, but they quickly removed it. I'm currently struggling to find it with the wayback machine, but you'll just have to take my word for it or find it yourself.
So what happened is, you had more USDT being created than USD flowing into USDT....meaning they're creating more USDT than the USD they're receiving, and that magically created USDT is what is being used to buy BTC.
So, for example...let's just keep everything super simple....USDT is supposed to be valued $1 USD. Now let's say for every 1 USD that goes in, that Tether produces $2 USDT..meaning that USDT would be worth $.50 USD in all actuality. Now lets say that those $2 USDT are used to buy BTC, which is primarily how all BTC purchases go...That would artificially drive up the cost of the BTC because the BTC thinks it's taking in $1 USD for every $1 USDT they receive. Do you see what I'm getting at? So this is looming in the background and we need to not forget it...especially considering everything else this last 2 years, but we will get into it.
Then they printed 5t, a lot of which was taken right back through traps set up via financial psy-ops...and trust me, all these companies know whatever is coming. They don't care that they bought at highs, because they not only rug-pulled you, they also managed to sell digital tokens of the actual coin itself...hello, ROBINHOOD!? WEBULL!? Anywhere else that sells you crypto that you can't access.
I'm just saying, you've got that looming in the background, then the arrest of SBF, who was closely associated with Bitnfinex with is associated with, and basically is, Tether or Tether Limited. All these sharks are good at what they do and people fall for the traps all the time. Perfect example, the one that's going on right now.
If you're a trader, by all means, trade away and make your money...but if you're losing due to the manipulations of options prices, stay away from them....maybe with the exception of buying some long-expiry $350 puts or something....Something is brewing. There's riots, protests, former/current presidents being raided (and for what really?), and SBF who was hanging out in D.C in the years leading up to and after the introduction of FTT.
Just be ready. It's going to get wild.
Oh, And who invested in BTC those insanely high prices? All your favorite S&P companies...
For starters, don't forget about SBF and FTT. But wait, what was even before that? The Evergrande Situation? And then what about before then/around that time...(See, I'm guilty of it too), but there was there USDT nonsense before that....and what's kind of driving it all? Bitcoin!
So, they figured out how to manipulate Bitcoin in a way that it wasn't meant to be manipulated. Instead of it being "non-hackable" and "non-inflationary" this is what they managed to do. And I need you to really think about what I'm about to say:
We're going to fast-forward past any tin-foil involving BTC and it's creation...Let's go to USDT:
Tether (USDT) is a stablecoin that is designed to maintain a value of 1:1 with the US dollar. This means that for every Tether token issued, there is an equivalent amount of US dollars held in reserve. The purpose of Tether is to provide a stable alternative to cryptocurrencies such as Bitcoin, which can be highly volatile. It is widely used as a store of value and a means of exchange on cryptocurrency exchanges, where it can be used to trade for other cryptocurrencies.
The answer to the question “What is USDT?” involves four specific parts:
USDT is an abbreviation for the term United States Dollar Tether
United States Dollar Tether (USDT) is a blockchain-based cryptocurrency
USDT is also known as Tether
USDT is the symbol under which Tether tokens trade
But USDT is much more than just those four details. At its heart, it’s a centralized, fiat-collateralized stablecoin.
(vauld.com/blog/what-is-usdt/)
Let's see what my good friend ChatGBT says; which by the way, exists only to steal your ideas and the collective human consciousness. It's the same reason why Elon Musk really wanted Twitter for 54b when he could have easily bought or build his own social media platform for a fraction of the price. Elon wanted the data of the human mind and social interaction. That's why it was such a fight with the bots, and why he also immediately went to a "Free Speech" platform (Even though they all did at the same time. Stuff you see on Youtube now you would have never saw 1-2 years ago...or since 2020, but I digress) Elon needed the bots gone because it corrupts the data (You wouldn't want to upload AI into AI under the impression that it's human behavior.) and he wanted the free-speech because people's voices have been politically censored for the last like 10 years, progressively getting worse and worse each year, and then before you know it, the entire data is full of fake human interaction and not the true nature and opinions of people, which is why he needed free-speech. Elon obviously has plans for some insane AI, and my guess is it involves nueralink, and I for one will not be participating in that, and those of us that don't are going to get left in the stone ages. Okay, my bad, back to ChatGBT/USDT. Here is a convo we had.
Me: When did USDT go public?
ChatGBT: Tether (USDT) is a stablecoin that is pegged to the US dollar. It was first issued on the Bitcoin blockchain as an ERC-20 token on the Ethereum network in October 2014. It later added support for other blockchains such as Bitcoin Cash, Litecoin, and TRON.
Me: "Tell me more."
ChatGBT: Tether (USDT) is a stablecoin that is designed to maintain a value of 1:1 with the US dollar. This means that for every Tether token issued, there is an equivalent amount of US dollars held in reserve. The purpose of Tether is to provide a stable alternative to cryptocurrencies such as Bitcoin, which can be highly volatile. It is widely used as a store of value and a means of exchange on cryptocurrency exchanges, where it can be used to trade for other cryptocurrencies.
Tether was first issued on the Bitcoin blockchain as an ERC-20 token on the Ethereum network in October 2014 by Tether Limited, a company based in the British Virgin Islands. Since then, it has added support for other blockchains such as Bitcoin Cash, Litecoin, and TRON.
Tether is one of the most widely used stablecoins in the crypto market and is considered to be one of the most important players in the stablecoin space. Despite this, there has been some controversy surrounding Tether, with some critics questioning the transparency of the company's reserves and how it manages its funds.
Me: "Have they been under investigation or public allegations or involved in any alleged scandals or fraud?" (I already knew the answer to this).
ChatGBT: "Tether and its associated companies have been subject to a number of investigations and public allegations over the years. The most notable of these include:
-In April 2019, the New York Attorney General's office announced that it had launched an investigation into Tether and the cryptocurrency exchange Bitfinex over concerns that the companies had covered up a loss of $850 million of co-mingled client and corporate funds.
-In January 2020, the U.S. Commodity Futures Trading Commission (CFTC) also announced that it had subpoenaed Tether and Bitfinex as part of a probe into whether the companies had manipulated the cryptocurrency market.
Some critics have raised questions about Tether's reserves and whether the company truly holds enough US dollars to back all of the Tether tokens in circulation. Tether Limited has undergone a number of audits by different firms over the years, but some have criticized the scope and methodology of these audits.
It's important to note that Tether and Bitfinex have denied any wrongdoings and disputes the NYAG's allegations. Furthermore, Tether has also been working closely with authorities and regulators to address any concerns and to comply with laws and regulations.
It's worth mentioning that these investigations are ongoing, and no formal charges have been filed against Tether or Bitfinex as of this date.
It's important to note here that Tether's website used to say that they will follow a consistent and constant audit of all dollars and tokens, ensuring a 1/1 ration, but they quickly removed it. I'm currently struggling to find it with the wayback machine, but you'll just have to take my word for it or find it yourself.
So what happened is, you had more USDT being created than USD flowing into USDT....meaning they're creating more USDT than the USD they're receiving, and that magically created USDT is what is being used to buy BTC.
So, for example...let's just keep everything super simple....USDT is supposed to be valued $1 USD. Now let's say for every 1 USD that goes in, that Tether produces $2 USDT..meaning that USDT would be worth $.50 USD in all actuality. Now lets say that those $2 USDT are used to buy BTC, which is primarily how all BTC purchases go...That would artificially drive up the cost of the BTC because the BTC thinks it's taking in $1 USD for every $1 USDT they receive. Do you see what I'm getting at? So this is looming in the background and we need to not forget it...especially considering everything else this last 2 years, but we will get into it.
Then they printed 5t, a lot of which was taken right back through traps set up via financial psy-ops...and trust me, all these companies know whatever is coming. They don't care that they bought at highs, because they not only rug-pulled you, they also managed to sell digital tokens of the actual coin itself...hello, ROBINHOOD!? WEBULL!? Anywhere else that sells you crypto that you can't access.
I'm just saying, you've got that looming in the background, then the arrest of SBF, who was closely associated with Bitnfinex with is associated with, and basically is, Tether or Tether Limited. All these sharks are good at what they do and people fall for the traps all the time. Perfect example, the one that's going on right now.
If you're a trader, by all means, trade away and make your money...but if you're losing due to the manipulations of options prices, stay away from them....maybe with the exception of buying some long-expiry $350 puts or something....Something is brewing. There's riots, protests, former/current presidents being raided (and for what really?), and SBF who was hanging out in D.C in the years leading up to and after the introduction of FTT.
Just be ready. It's going to get wild.
Oh, And who invested in BTC those insanely high prices? All your favorite S&P companies...
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