Red pill me on Tether

Red pill me on Tether.

If all the news about Tether being fake money turns out to be true, who gets fucked the most?

Anyone actually think it could kill off bitcoin and crypto in general?

>Red pill me on Tether.
>Think for or influence me because I can't research or form my own opinions.

Tether isn't fake money. Brainlets just can't figure out how it works.

Plot twist. Tether turns out to be fake, and everybody sells it for Bitcoin, causing it to moon even more.

This would be different from the mtgox case because it was the Bitcoin that turned out to be fake because they were all stolen.

it could be fake, but that would matter

What?

He's right. If its fake money, its not gonna hurt bitcoin. If anything, it would hurt other nation's money if people cashed out BTC all at once. But people are going to hold, and cash out slowly, so the governments won't notice how much Tether is fucking their currency.

Hands down the worst girl I've seen here for a while.

This

Tether can't fuck anything any more than any other cryptocurrency.

>girl

It would actual fuck whoever holds tether because nobody would be selling their BTC for tether. It would be a Confido situation but with Tether.

I honestly believe Tether/Bitfinex are going to crash BTC with their absurd amount of holding to pay for their 600million in tether before they get fucked, that would be before new year

dosen't mean BTC wont recover, just not at this speed

>if mass panic people are going to hodl

MtGox ~75000 btc lost, ~6% of btc, ~$450m
Market cap was $10billion so about 1/9th of total market cap lost or stolen

Tether: $670million in a $240b market cap
= 0.003% of the total market cap

Or 0.005% of total btc

Loss of all (worst case scenario) is still barely a dent.

Someone tell me what the problem is

USDT/USD would go down but I don't think it would go to 0. There's no way they don't at least have some reserves backing it up even if it's not 100% So BTC / USDt would diverge from BTC/USD and go way up. Probably above $20k BTC / USDt

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Something something margin trading.

So even if all tether was used to go 10x, it's still a tiny dent.

there's not 200billion in buy offers nor close to that
600million worth of bitcoin (sold at once) would send bitcoin to the dak ages

if you had a short position to that not only you make a fortune but you kill the competition

(as it's not regulated and dosen't count as insider trading)

what's wrong with her? serious question

> no banking
> no audits
> no U.S. customers
> issues block chain tokens they totally pinky swear are backed by real dollars
> no deposits or withdrawals allowed
> allows wash trading

Looks legit, how do I give them my money?

>summary of Tether

if tether goes, bitfinex will as well, so you should count finex in that

spot on, fiat is an iou

Your math is wrong. But point still stands yes

backed by guns