Tether scam

I was reading about how Tethers are a scam so I checked the numbers.

126.672.951.342 $ is the market cap of bitcoin
494.610.076 $ is the market cap of tether, thats about ~0.4% of Bitcoin.

If all people that have Tethers decided to buy BTC with it BTCs marketcap would rise ~0.4%. But the price of bitcoin is up 15% since last week.

You have to be an idiot to think that tethers have to do ANYTHING with the recent BTC price spike. That twitter troll that is crying about fake tethers may be right that they are just printing them but it doesn't affect anything at all in any way.

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Lol OP is retarded. You don't even understand what people mean when they say Tether is a scam, do you?

fucking simpleton. Imagine a coin with $10.000 marketcap. With thin sell walls or whatever circumstances $1.000 could push the cap to $20.000 as cap is only calculated by supply x current price. An impulse of Tether-fed orders at the right point can DEFINITELY be used to influence the market.

You missed the point. Even if tether is a scam it wouldnt affect btc price (read op post)

>not understanding how marketcap works

Peopld don't want to admit it but there's a lot of Funds buying a log of bitcoin right nos. They don't care about any other coin other than btc

you fucking dumbass moron idiot op.

tethers are purchased and are then used to create wash trades to drive the price up

market cap is calculated by the current price. change the price, change the market cap. tether has a fixed price of 1 dollar. a market cap of 200 billion does not mean that there is 200 billion dollars in the market. it only means you would need 200 billion to buy the entire market at current price (assuming all assets were sold at market price). Yes, the highly inflated market cap is caused mostly because of tether. you will see in the coming weeks, if we "tin foil hat wearers" were right or not.

Bingo.

Online bloggers have fully documented the fake trading on bitfinfex.

Spoofy the spoof trader uses Tethers to buy and sell with himself using multiple accounts. It's a pump and dump:
Accumulate at 7000
Use wash trading to push the price up
Dump at 7500
Repeat until all money has drained out of crypto
Everyone blame contentious fork for the crash
Spoofy sails away into the sunset with billions, the perfect crime.

How it wouldn't be able to affect the price, if someone margin longed wit this shit?
You don't need 1b$ to move mcap by 1b$ for fucks sake.

>tethers are purchased and are then used to create wash trades to drive the price up
As if any exchange would ever need to create tethers to do this lmao. Also - there is no wash trading, they would need to push up the whole crypto market because every exchange and all the orderbooks are connected via arbitrage bots.

To have some numbers - you would need to push a market worth $200.680.476.608, at 15% thats +$30.102.071.491 try this using a few millions without getting dumped on.

It's pointless to listen to you until you realize that when the so-called market cap goes from 150 to 200 billions this doesn't mean that 50 actual billion dollars were invested.

Why the fuck would an exchange that is making millions a day from commissions legally would want to exit scam? It makes no fucking sense, you'd be hunted by governments around the world and for what? Use your head brainlets, this fake tether shit makes no fucking sense.

>be bitfinex
>issue millions in fake tethers
>open millions of margin longs and buy up order books
>price goes up because that's how order books work
get your dumb ass out of here op

It's pointless to talk to you because you don't understand that I haven't said this with any word. You are mentally not capable to understand what im talking about. More specific - you can't understand orderbook dynamics.

If your dad wants to wash trade and he has 1000$ and he wants to push bitcoin to + 1Billion marketcap with it then he wants to make a high buy order for 1$ and he wants to buy it himself to make it look like the price has gone up naturally. To fill his own order he needs to buy the orders below his orders + the coins that people are dumping to keep the price up. Your dad quickly realizes that he is actually retarded because his 1000$ just got burned because the amount he invested doesn't do anything with the market. To push the market he would need to have a much more money. How much money he needs depends on the market.

I am saying that if you had every Tether in existence you wouldnt be able to do anything significant with the current market, you would just burn the money.

Because they're not. They got fucked with the hack last year, stole money from people's wallets to pay for it, issued IOUs for their debts, and finally paid off those IOUs... just days before they issued Tethers equal to the amount they owed their users.

Do you honestly believe this isn't a giant ponzi scheme meant to cover their losses? Its clear as day it is.

$7500 for magic meme coins with $10 fees to transfer any amount, that 99% of retailers dont accept. What could go wrong?

wrong.

You cant ge your money out of BItfinex unless you buy bitcoin and export it. This means that you cant really arbitrage Finex.

You can arbitrage with any coin? Arbitrage does not mean you are limited to CryptoFiat

Is op in a state of denial that he is stupid or is he being paid

That's not how markets work guy. For example, if Jeff Bezos tried to sell all his stock at Amazon he would never get his estimated net worth. This board is so fucking stupid. A small fraction of the market cap causes massive changes in price. The issue with Tether and Bitfinex is they were hacked for 36% of their Bitcoin, then Wells Fargo cut ties with them giving them no working bank. This indicates Wells Fargo had evidence of fraud. Now they are using Tether as a bank when Tether has no guarantee it can be redeemed for dollars. So if Tether goes down so does Bitfinex. The story is literally the exact same as Mt Gox which got hacked for 80k BTC (less than Bitfinex) then lost access to its bank and then started manipulating their internal trades with fake money.

wow

what is supply and demand

There will a LOT of pink wojaks soon enough.

guys getting banted hard here kek

Just so you know, big institutions are buying and are trying to FUD bitcoin as much as possible. There are a limited amount of BTC, so they want to get as much as possible while the price is low. This whole tether things is one of the FUDs created by the Council of Whales.

FYI Tether and Bitfinex are owned by the same people

faggot foil hat teather guy is a salty poopdick who got wrekt by the market and lost all his bitcoins, no he sits in his basement all day with one objective, to look like an absolute fucking crybaby moron.

LOL if you think tether is propping up bitcoin youre deluded and mongol brain

They are making close to half a billion a year...

You yourself sound very smart.

this

Tether is the mother of all ponzi schemes

So dont mess with Tether

holy shit the absolute state of nu/biz/
have you ever heard of margin?

We are the tetherbears

so what is it now cause im confused.
Why would bitfinex plan an exit scam and crash the entire market, the market they dominate and make hundreds of millions of dollars on?

>If all people that have Tethers decided to buy BTC with it BTCs marketcap would rise ~0.4%. But the price of bitcoin is up 15% since last week.

That's not how it works. Marketcap increases with the price increase, not with the amount of value put into it.

Let's say everyone who is willing to sell BTC suddenly decide they will only sell it at 10K USD or more and only a few people buy it at that price. Suddenly the BTC marketcap has gone up by an extreme amount without any significant money trading hands.

0.4% of total BTC value is more than enough to cause high upwards pressure by buying out everything for sale under a certain price and then increasing that price over time when you consider that there will be many many "me toos" looking to ride what seems like a starting upwards trend.

Warnings
Deaf ears

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Warnings
Deaf ears

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news.bitcoin.com/tether-coin-may-be-a-precarious-us-dollar-peg/

"The Hackernoon article suggests Tether solved this problem by minting more Tether units, even though they said they would not increase their supply. Yet Tether has drastically increased its supply. The article said, “Tether claimed that the supply of tethers would not increase until their banking problem was solved, yet the supply of Tethers has actually increased by 482% since this announcement. From July 2017 to August 2017, the supply of Tethers has increased by over $100,000,000 ‘USD’.”

>pbs.twimg.com/media/DN42o95XcAIAQjQ.jpg:large
okay I sense a bit of truth here but.
I'm dealing with Bitstamp and Kraken. Not Tethers.

When should I sell to avoid shit hitting the fan?

also this whole thing makes me want to buy XMR.