While bitfinex/tether's actions heavily imply fraud, can we come up with a model that makes them solvent?
Some theories say that they are borrowing money from a bank who keeps the USD in their accounts. They then proceed to margin buy bitcoin to drive up the price at critical moments and sell off during consolidation allowing them to repay the ghost loan.
The least likely possibility is that when someone wants to invest bitfinex directs the new investor to pay off the debt of earlier investors.
A theory I have not yet seen is that they are accepting cash deposits from CN citizens and using this to buy USTbills from the CN government. I think this would be the best possible outcome. The money is there just acquired in a really shady manner.
Can anyone explain why bitfinex is being so shady in a positive way?
Hey Faggot. Long time no see. What happened to your Bcash?
Connor Young
>can we come up with a model that makes them insolvent? Already happening, Gox 2.0 in the making. Real Veeky Forumsness man know how to profit from it. More gains than let it survive
Ryder Russell
the best scenario is the tether bubble pops and crashes the entire crypto market, wiping out countless normies who just entered and sending us into a year-long bear market like after the mt. gox crash
this way I can make up for all the mistakes and missed opportunities from this year
Jose Barnes
tether will effect bcash too. Fraud never works long term. Trying to come up with ideas that would explain the shadiness. Haven't seen any evidence that this isn't fraud. What is your theory?
Josiah Green
Welp. Fraud works long term if you have the military force to back it up. Case in point, U.S.D. Fiat. Bitcoin partners in Saudi Arabia just used Military Force to take down Bitcoins main attacker. Where were you when Bitcoin became backed by Military Force? Tether pumps are a smokescreen. The real deal is Military Force.
John Gonzalez
This fucking LARPer and his fucking oldfagbiztard routine really grind my gears
Cooper Taylor
Problem with this " pop The Market" meme is Digital Currency is here to stay. It is here to condition you to accepting a cashless society. We are at least one generation away from that being politically and ideaologically possible in the U.S., So, it is going to be a generation before Crypto collapses so Governments can say "We have this new tightly regulated digital Global Currency everyone has to use, we cann not allow what has happened in the past", and it will be backed by Military force. So, with relatively minor corrections, we are good to go for about 20 years. Ride the wave. It just started.
Nathaniel Campbell
Basement neets really grind my gears. Run along upstairs now, Mum has tendies ready.
Joseph Roberts
Please god I need a second chance. Make it crash please tether PLEASE
Cameron Ward
You know what? You caught me in just the right mood this morning. (you) are one Dumb Motherfucker. (I) am going to waste some of my precious time to show (you) just how Dumb a Motherfucker (you) are.
Asher Davis
>military force meme The US military is 100% antiBTC because they have to prop up the petrodollar. Failed states are pro-BTC, governments hate it.
>I raided some shitty exchange for $1k with a four man navy seal team It costs more than $1k just to deploy you moron
>defending fraud This is the only thing that makes me feel like you have some connection to the military
Julian Turner
Do it faggot; put me in my place I'm such a naughty girl I deserve a spanking
Joseph Cox
...
Juan Green
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Aaron Reyes
Now that (you) have wasted 5 minutes of (my) time, (you) can fuck off back to (your) basement.
Ayden Gonzalez
>implying this has anything to do with BTC >implying this isn't just a consolidation of the house of Saud
Go back to /pol/ where they believe in conspiracy theories
Joseph King
Post his dick pic with a time stamp or you're a LARPer
Mason White
nice derailment.
So no ideas that could redeem tether? So we're all fucked soon-ish? Great.
Jace Davis
He owns (or did) a share of Citigroup. Ofc he's going to hate BTC
1,5 billion in currency got traded on bitfinex today. At 0,2% maker an 0,1% taker, bitfinex earned 4,5 million dollars. Today. Maybe the tethers are issued with how much profit they make. Tethers are bitfinex investment in crypto.
The higher the price, the more trading, the more profit, the more tether, the higher the price, etc.
It would be legal, sustainable and it would be a powerfull mechanism behind the market but not insurmountable.
Blake Lopez
I said you could withdraw from any exchange with a 4 man insertion team. I never said anything about Amounts or "Navy Seals" (You) are dealing with an Ia person who knows a very poor attempt at gaslighting when he sees one. I've seen the best the world has to offer. (you) are below Grade F.
Brayden Martin
>literally can't even tripfag correctly >has less than 50% win rate on predictions in a fucking bull market >only decent prediction ever made is "go long BTC" Why does anyone take you seriously?
Caleb Richardson
AKA "Nothing to see here, Anons, move along.".
Levi Green
50% win rate. Lets examine that. One failed prediction out of 100. Case in point, 48% profit for everyone one night in BTG, 4% a two night snaposhot of my worst nigh in predictions from INTEL resulted in a 44% gain for everyone. You = LOOK LIKE A FOOL.
Jaxson Sanders
4% loss the next night.
William Sanchez
Anyway, I have shit to do irl that is way more important than arguing with a mouth breathing basement dweller on a Himilayan Basket Weaving forum. Good day.
Hudson Long
>tether cannot be redeemed for USD
There, Tether IS solvent, as you bought nothing
Angel Turner
Nobody cares about tether; the point is where are the bitcoins the tether is backed by. When you deposit at bitfinex, you give them BTC. When you withdraw, you also take BTC. But what if they've misplaced your BTC and you don't know it because you have the right amount of tether in your account. When you finally want your BTC back, they can't give it to you because they don't have it, and you're stuck with worthless tether.
