Another 20 million in tether shipped to Bitfinex 45 minutes ago. Another huge BTC pop...another spike in margin funding

Another 20 million in tether shipped to Bitfinex 45 minutes ago. Another huge BTC pop...another spike in margin funding.

Thats 170 million dollars into BTC in the last 2 1/2 weeks.

Why are people not demanding a USDT audit???

YEah fuck tether and bitfinex. That scam is hurting crypto and eventually going to come down

can someone please explain what tether is? who is accepting them as currency from bitfinex?

they were already audited in september you fucking retard

I guess Bitfinex needs USDT when people cash out from BTC? Or else USDT would jump in price because of high demand...

Oh and also

TETHER CAN'T MELT MY PORTFOLIO

>USDT would jump in price

bitfinex

Explain

it's made to mirror USD retard

...

So what?! If people buy it in hordes its value should rise naturally. That's why they need to "print" more.

its pegged to the us dollar retard

they are actually white

no, people buying it should have minimal (less than a few cents) effect on the price. the printing of more tether should only come from new fiat being used to back these tethers. which has not been proven to be real. this whole thing is fishy.

>Btc is at 5k
>Exchange A has a usdt-btc pair
>Exchange A owns 50m tether, therefore users could cash out up to 10k btc at once in tethers.
>Btc rallies up to 7k because people bought it for fiat in exchanges that allow it like coinbase.
>Exchange A is now dangerously low on tethers, if a mass cash out occurs, and people do cash out more in times of rallies and high volume, they might run out of tethers and cause a panic mtgox feeling, like when binance ran out of link for 30 minutes and everyone thought they were exit scamming
>Yo, Bitfinex, im running out of tethers baby hook me up with another 20 mill. Wiring you the money rn

People are misunderstanding cause and consequence here. They have to mint tethers when btc rallies because a single tether's purchasing power falls while volume increases, it's not the tethers themselves pushing the price up

thanks for the explanation user

>They have to mint tethers when btc rallies because a single tether's purchasing power falls while volume increases,

Fucking thank you. Someone at least understands why more Tether needs to be added as the price of BTC goes up

do you not realize that the tethers are only printed within less than 30 minutes of a new btc rally?

Says who?

This "whole thing" has been fishy for MONTHS according to you consipiracy tards, meanwhile the entire cryptoshpere is moving along because there is nothing significant of note here unless, of course, you're an autist

legit, ive made thousands off margin longing instantly whenever new tether is printed. theyre not printed during a rally, theyre printed BEFORE.

>new fiat being used to back these tethers

Maybe someone should track the market and calculate how much altcoin money's in there?

this
they always print before moon

Same market psychology leading to the 2007 crash: people want to believe. Point out proof of wrongdoing, and they will attack you for ruining the collective illusion. It doesn't help that the structure of crypto could let Bitfinex get away with it for a while, to the point cause is too far removed from effect when it ends up crashing.

yep. im personally fine making money off of these predictable movements, but im genuinely worried for the future of crypto if this keeps up. the crash may be huge (mt gox level) if it comes out in the open.

I got that for pointing out the Korean BCH pump and dump. I don't like this situation one bit.

how do you get notified

Dude...

>yo we need tethers stat
>i got you senpai
>prints tethers
>market pumps immediately after
Wow they just knew in advance!

According to the guys that print it, with no proof, and no legal liability to exchange any tethers for cash.

Starting to get the idea?

shitcoiners just cant accept that bitcoin is king and have to come up with conspiracy theorys as to why its pumping because they missed out yet again :)

This. Guaranteed that the retards fudding this ridiculous theory are from r/btc. The outlook is bleak for those poor fucks with big exchanges dumping their airdropped bcash for the real stuff.

FUCK YOU YOU MOTHERFUCKING PIECE OF SHIT.

YOU WILL SHUT YOUR FUCKING MOUTH RIGHT NOW OR I WILL REFUSE TO READ YOUR POSTS AGAIN.

HEAR ME?

R E F U S E T O R E A D

>"EVERYBODY'S JUST MAD JELLY ABOUT MY GAINS, THE REASON WHY MADOFF MAKES SO MUCH FOR HIS CLIENT IS A SECRET DO YOU REALLY THINK HE'D LET EVERYBODY ELSE KNOW HOW HE MAKES SO MUCH MONEY? IMAGINE ACCUSING ONE OF THE FUCKING FOUNDERS OF THE NASDAQ A FRAUD, DO YOU REALISE THAT THIS GUY IS ONE OF THE BIGGEST NAMES IN FINANCE

I'm going to create a competitor to USDT. It will be backed by 50 billion worth of gold I found in a secret nazi base located in antarctica. You may not know the location, will not be allowed to see it or ever redeem your tokens for this gold but believe me its real!

The token shall be named Riech-binden.