Bitfinex just created135 million tethers... RIP

Shit since the beginning of the year they have printed about 750 million TOTAL. If you leverage that up it can be worth 37.5 BILLION, if you consider that the real dollar value of bitcoin actually being used in trade right now is 45 billion that means 80% of the bitcoin price is fake. Can miners survive a 80% drop?

>t. +9k buyer

yeah, they'll be fine even if it dumps to 1k

I have never seen a more brainlet post on Veeky Forums before

nice just printed 100k

You have no understanding of how margin trading works do you.

Holy shit I just cashed out 100% this is so fucking blatant you have to be retarded not to see it.

I think someone said if price drops under 2k then cost of electricity is higher then returns even in china.

Your not doing the calculations man. Also my calculation are not even taking into consideration how much money people borrow trade bitcoin which can be even worse.

You deposit a percentage of what you want to trade wait. If you want to trade 50 billion in BTC with 50x leverage you only need 1 billion.

...

I like Bitfinex i am not moving. They are some crooks for sure, but my trading there is quite nice.

Where does this magical 37.5 billion come from for the margin funding?
Youre a legit fucking retard.

nice just sold 100k, srsly though this will hurt crypto so much.

>Trump
I think it is because reddit started a campaign to report bitfinex / tether.

reddit.com/r/btc/comments/7g5yml/my_investigation_of_tether_scam_and_some/

Isn't tether audited by officials, as in there's someone to verify there exists a corresponding USD backing up every single USDT?

Hitler just gassed 6 gorrillian tethers

wat do?

>btc/usd jumps to match btc/usdt
TOP

FUCKING

KEK

>Where does this magical 37.5 billion come from for the margin funding?
Are you really this stupid?????? The tethers are leverage you dumb fucking brainlet.

ReeeeeeeeeEEEEEEEEEEEEE if true
12k in bound

pfff

There arent 37.5 billion tethers though???

>There arent 37.5 billion tethers though???
I fucking hate you biz brainlets. Its leveraged ok its margin traded ffs.

Next time use your fucking brain instead of dismissing this as "FUD" when you dont even know wtf margin trading is. Kek, fucking corecucks.

750 Million Tethers in circulation multiplied by a leverage of 50x is 37.5 Billion. That can also be consider low because some exchanges allow leverage of 100x. If you are on the inside you can trade upto 75 BILLION worth of bitcoin if you know how to control the price.

I know the bitfinex and tether printing backstory.
But how do you know this is bitfinex's wallet? And how is it proved that these tethers are printed and used by bitfinex?

Not doubting, just curious about the backstory/investigation on those details

>reddit
You mean bcashie bagholding central

nobody is falling for muh tether FUD anymore

>the Fed doesn't have jurisdiction there/
The same was said for Liberty Reserve dumbass.

en.wikipedia.org/wiki/Liberty_Reserve

The united states government shut it down for "money laundering" under the Patirot Act. Guess what Bitfinex is being accused of aside from pumping BTC? Thats right, money laundering.

Most can't be proven but here is a list of wallets they have gone through. It won't be only bitfinex that falls wallet.tether.to/richlist

So where does the 37.5 billion in funding come from?

Underrated.

>So where does the 37.5 billion in funding come from?
AHAHAHAHAHAHAHAHAAH this corecuck literally does not understand leverage. LEVERAGE get it? Fucking leverage. The dumb money is definitely here.

Read up dumbass instead of saying everything is FUD

investopedia.com/university/margin/

investopedia.com/terms/l/leverage.asp

Kek you think someone/thing is loaning billions of margin to these tethers?

>750 million TOTAL
Nope, the coinmarketcap supply for Tether isnt up to date. A few days ago it was already way past 800m Tether.

>Kek you think someone/thing is loaning billions of margin to these tethers?
You serious? You can margin trade in Bitfinex.

You cashies never learn. You see conspiracies everywhere but you gobble up everything Roger Ver, Craig Wright or Jihan Wu say.

you're so fucking retarded
you can't leverage something with something that doesn't exist
if someone, let's say, has 1 million USDT in his trading account and wants to trade with 100x leverage, 100 million USDT are mobilized on this trade
750 million USDT in circulation means 750 million USDT can be traded at any given time

Lmao, the only dumb money here is you.
Where does the 37.5 billion in funding come from? Bitfinex usually only has 200m usd in funding available, thats ~60m at 3.3x leverage. Seriously how can any of you be so fucking retarded.

>corecuck
Ah, thanks for confirming my thoughts. Youre just another btfo bcash bag holder.

WTF is wrong with people here. It is the opposite. People are using the fake value of tethers as $$$ leveraged up. Tether itself is not leveraged.

>You can margin trade in Bitfinex
see How can you leverage up to 37.5 billion if bitfinex only has on average 200m in funding available and their maximum rate is 3.3x? Bitfinex uses tether for margin funding by the way... And there arent 37.5 billion tethers.

So I ask again, and hopefully for the last time, where does this 37.5 billion come from?

Bitfinex is printing the tethers and providing the margin on them. That is the point, nobody is actually loaning out billions of dollars in margin. Its all a fugazi

They use the money themselves to trade on other exchanges like bitmex.com, they use Tether is money but it isn't real.

To quote yourself:
>You have no understanding of how margin trading works do you.

There is also some theory that big money can actually flow from real banks because Bitfinex is giving them very good interest rates

You are contradicting yourself.. youa re agreeing that the tether and whatever margin is being coupled on bitfinex is not real..

Margin trading implies you are borrowing money from your broker or another source at interest to amplify gains. But in this case the margin isn't real at all.

So how can they inflate the btc price with "billions" then

They can't.. that is what I am saying

This might be the most retarded poster on this entire goddamned website.

WHAT THE FUCK IS GOING ON?!
THEY JUST SAID RECENTLY THAT THEY WON'T PRINT ANYMORE...

u got lied to bro

Lmao you guys are fucking retarded.

nice just pocketed 100k, did a 360 and walked away

Right but then what's the problem with this? As long as new buyers keep coming in surely this can keep going? With only 10-20MM people buying BTC we still have room to grow. We can easily keep doing this until 100MM+ buyers.

>They print tether saying they have USD to back it up
>lend it to margin traders themselves
>If they have the money it's no big deal
>If they don't this is very bad, they're essentially printing their own USD

The accusation that they're lending tether without backing up is the problem you fucking idiot.

HAHAHAHA do you even understand how leverage works ?? Damn man stay in the market so I can make money out off your low IQ

That is what I am fucking saying

>they use Tether is money but it isn't real.

...

> they think USD or any other fiat is any more 'real'

This
Wonder if there would be riots in the streets if the USD printing would be as transparent as tether

There was a new paradigm, unexpectedly. In this new paradigm they do print new Tethers.

kek. sorry. thought you were the other guy.