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A comment on Bitfinex, the Italian network behind the boss that makes Bitcoin tremble. Parent comment

Re:Bitfinex, the Italian network behind the boss that makes ... by rtpg on Thursday February 18, 2021 @01:00AM (#26176477)
you own a bunch of tether, you decide to "rush" to other assets.

Except your existing assets are dropping to 0, so you don't actually have that much buying power anymore. So you'll only see a fraction of a rise. Meanwhile whoever sold you the tether probably cashed out a while back.

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Re:Bitfinex, the Italian network behind the boss that makes ... by tehlike on Thursday February 18, 2021 @02:00AM (#26176846)
Someone will front run the news and sell tethers for btc, or things like that.
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Re:Bitfinex, the Italian network behind the boss that makes ... by lottin on Thursday February 18, 2021 @04:19AM (#26177704)
Not to mention that people don't rush to other assets in general, they rush to safe assets. No one is gonna rush to buy bitcoin in the event of turmoil affecting bitcoin exchanges, this is just nonsense.
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