There’s new tether FUD going around and apparently it all started with one article.
It’s gotten so much traction that I get DMs about it on a daily basis.

Tether FUD is what tether FUD always is... Bullshit.

But I decided to read the article out of curiosity.
(warning: long)

First things first, an anonymous throwaway account. For real? This is the source you all choose to believe?

I guess you guys are the type of people that also believe that your $2000/month paid group leader has a 100% win-rate.

I couldn't contain my laughter.

Right of the bat this guy just can't help but brag about what a genius trader he is. He supposedly bought the exact bottom after the corona crash and the entire first paragraph is about his sick gains.

You smell that? It's the smell of a larp.

Oh that’s really interesting buddy. On January 8 you first discovered that tether still exists?

THAT IS A WEEK AGO.

This man claims he only just found out that tether still exists and already he has an entire thesis about what a scam it is?

For month he’s been making profits with his bitcoin investment and now all of a sudden he URGENTLY needs to do research?

What is it larp, are you a genius trader or are you a reckless moron who doesn’t even do his due diligence before putting “most of his wealth” in an asset?

Then he makes the claim that a "legitimate" exchange like Coinbase has most BTC volume in USD instead of tether...

Coinbase doesn't have tether you imbecile how are you gonna use this as an argument?

To add to this, he says that 'shady' exchanges like Binance use tether and not USD for bitcoin.

Binance doesn't have a BTC/USD market...

(he's talking about regular binance not US)

This dude seems to care A LOT about regulations and it almost sounds like he is a gov paid shill lmao.

Is this Nouriel's throwaway account or something

Again he claims that because Coinbase doesn't use tether it can't be trusted.

Coinbase has their own stablecoin buddy: USDC.

Really bizare argument.

Authorities want information, company doesn't feel like being super helpful, a tale as old as time.

This is enough to conclude that tether is shady apparently.

I would rather side with a profitable company than a gov as corrupt as the US gov when it comes to this.

Then he says that because the tether mcap went up while the investigation was still ongoing they must have been planning an exit scam.

He ignores the fact that there's a bull run and demand is up a lot...

Extra irony: he proved himself that there's a lot of tether demand.

Once AGAIN he can't help but brag about himself.

And another paragraph about his sick gains.

*breaths in deeply*

LAAAAAAAAAAAAAAAAAAAAAAAAAARP

We're almost at the end.

He admits he still doesn't really understand what he researched.

???????????????????????????? ARE YOU FUCKING SERIOUS ????????????????????????????

What the fuck.

Tether Ltd is buying drugs now?
Or are people buying drugs with tether?

The fuck is this argument?

OOPS

Did you just slip up my friend?

I thought you made SICK gains but now you're talking about missing the boat?

Maybe... Maybe you're bullshitting the entire time?

He has a conversation with a friend and his head explodes because he finds out that derivatives exchanges exist.

This makes him believe that he now has had an epiphany that no one else has had.

Oh I get it now.

It's a kid and he thinks he's in a movie.
Or he really wants to be.

Man, now it's just getting sad.

Apparently the conversation with his friend who trades derivatives is irrefutable proof that tether is a scam.

Tether being issued in round numbers is irrefutable proof that it's a scam.

I’m not able to laugh anymore, it’s just sad.

He keeps riding Coinbase's dick for some reason.

An exchange that also has been under a lot of scrutiny btw.

But we all know the author isn't too good at doing research.

Only just now does he think about checking reserves lol.

He concludes that Bitfinex isn’t solvant.

Even though he only started doing research a week ago, he thinks he stumbled on crypto’s “big short”.

Something only he, and no one else has figured out.

Brags about his sick gains one last time.

Oh no cringe dude.

Now he starts bragging about his “succesful” startup.

Jesus fucking christ.

Crypto is apparently a highly illiquid market even thouhg companies like Microstrategy can buy half a billion in bitcoin like it’s nothing.

His solution to save us all from this incredibly dangerous fraud is to collapse Kraken.

Uhm… Yeah.

And now that he is out of his trade he thinks the US gov should basically paralyze the crypto market.

What a nice guy you are.

He pretends that he’s mostly worried about all of us potentially losing money.

Let’s just forget the fact that his “solutions” would makes prices collapse.

Thank you very much mister anonymous for your concern but we are all doing fine without you and your solutions.

As for everyone else… I’m immensely disappointed that you let this article make you spread FUD.

TLDR: this is the most garbage article I’ve ever read. Kid thinks he’s in a movie, literally.

Also, someone pls tell me this article is an advanced troll.

/fin https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3