Tether literally printing money

hyperinflation within hyperinflation

this is only destroying the U.S. dollar faster

They own Bitfinex. They send USDT to their own exchange, and trade USDT for BTC.

They then take this BTC somewhere legitimate and sell it there for real cash.

Rinse and repeat.

>tfw the price of bitcoin literally can't go down
thanks based tether

what are the implications? noob here

tards selling crypto for Tether thinking Tether is real USD

Mind you, most exchanges offer Tether and not real USD

see and

>hyperinflation within hyperinflation
>this is only destroying the U.S. dollar faster
You're probably the same deluded fucker in the other thread. Explain how pumping BTC with fraud is a good thing?

Do you think people will take the "store of value" meme seriously once its proven that BTC's gains since $1200 were caused majorly by Tether? No. No one will take a crypto purely used as a "store of value" seriously anymore.

How will this destroy the USD? Or are you saying it will destroy the USDT ?

because Bitcoin has a finite supply

The implication is you thing you got x10 gains in FIAT but what you got is x10 gains in Tether.

Oh, and also, when this collapses, the exchange ran will destroy every single exchange, zero crypto price and most will baghold an imaginary number for a lawyer to show at best.

The marketcap goes from 300 billion to 50.

he wont explain shit. he is getting paid to parrot some stupid oneliners...

USDT is pegged to USD

both are hyperinflating

......I can't make it any clearer lol

Just MtGox 2.0

Nice dude that will make grandma and uncle so happy to hear. The massive bubble crashing? What a fucking retarded talking point.

nah, but I am getting paid to teach people how to trade

it is only in your dreams and line of work to parrot this.

when Bitcoin's market cap is the same as Apple's, it'll be around 50k

when it's the same as the S&P500, it'll be 1M+

we haven't even fucking began lol

like, not even close

If its revealed that Tether has been pumping this shit since $1200 no one will seriously believe the store of value meme (hence killing it as a store of value).

Why? Because the first time BTC broke $1k was because of Mt.Gox's fraudulent pump. If people find out BTC recovered because of another fraudulent pump caused by tether this time..... lmao....... user i dont know what to think.

nice, just bought 100k? or something?

Every coin I have is going up right now... A we all getting inflated user? :(

>when Bitcoin's market cap is the same as Apple's, it'll be around 50k
You really comparing BTC to Apple? Whats the use of Bitcoin currently aside from selling at a higher price? Buying at niche stores with overpriced fees?

Apple is a fucking business that produces a lot of tech products and services. In fact I'm browsing Veeky Forums on an Apple computer right now. A lot of people purchase Iphones download from the App store etc. They produce profit for their shareholders.

I just hope you didnt took money in a non anonymous way casue when bitfinex and tether are being tried for fraud you are getting implicated too.

Oh and i am not sure they give a damn for the low guys...

Sure, if the pegged money was actually real currency. The circulation of usd inst changing because of usdt.

what they're trying to do is scare off normies

it's not so much that Bitcoin is going up, it's that the U.S dollar is crumbling to fucking nothing

the higher price makes your average retard think that it's too late and that they missed the boat (they didn't)

and this is creating A LOT of volatility in an already super volatile market, which is great for people like myself who understand how to trade

yeah....this Tether thing; seriously one of the best things to ever happen in the crypto world

The point of the thread is to prove that USDT is not pegged to USD

You might say I'm a nocoiner. Nope I've been with BTC for a long time which is why i can say that its current state is bullshit.

Do you know what colored coins are? They were a hyped up usecase of BTC. Everyone was excited for it as programmable assets. It never pulled through, since Ethereum arrived. Which is why i invested in Ethereum very early on too.

Now you faggots are arguing BTC as purely for storing value? lmao what a joke. Before we were truly interested in the "potential" usecases. Now you fags accept the high fees and slow transaction times?

I can tell by the way you defend BTC's current state that you are a newfag. I bet you dont even know what Butterflylab's Jalapeno miners are and the scandal that happened with it before.

USDT isn't actually pegged to the dollar when there aren't real dollars invested you shit eating moron. They're exchanging worthless tether for real bitcoin while pumping the price of the latter to get even more out of it, and when someone finally pulls the curtain back tether will collapse, bitcoin will collapse, and the USD won't be affected in any way

this

no, I'm just comparing math

>didn't took money
nice

>The circulation of usd inst changing because of usdt.
the U.S. dollar is being hyperinflated, and the USDT, which is pegged to the U.S. dollar, is also being hyperinflated

hyperinflation destroys value

Lets be honest, the whole FUD with not being able to cash out runs counter to the FUD that one day everyone is suddenly going to cash out and realize there is no money left then panic. Those limitations of being able to cash out make it ideal to get away with the Tether situation. As it stands you can only cash out so much a day if you can even cash out at all.

This problem will never come to be a problem.

keeping parroting the same meme like it has any meaning

what about this one:

having no value at the first place destoys "value"

also good thing you are correcting my grammar

this

wow NO SHIT lol

tl;dr

when someone finally pulls the curtain back, if they do (they won't), until then......and I keep saying it, this is hyperinflation within hyperinflation

you're welcome

>they won't

Nice. The "zero trust" currency reduced to church tier beliefs!

Bitcoin will not collapse from this tether ordeal. Tether owners will just get wiped out and Bitfinex will pull an Mt.Gox style exit.

lol if they haven't done something about it already, they're not going to

MtGoxs exit led to one of the biggest Bitcoin crashes ever

When they got hacked, they had 2 options. Either shut down and face whatever legal shit they had to face or start fraudulently printing USDT and hope for the best.

The bubble is getting to big and setting alarms everywhere. I wouldnt sitting too tight with my bag of imaginary internet money if i were you hoping they arent going to get pawned eventually.

my question is, what is the likelihood of a "run on the bank" with bittex?
maybe enough people will see the "coincidences" and evidence of bittrex faking their order books with orders from other exchanges and using bots to run arbitrage, falsely presenting the exchange as being more liquid than reality, plus the supposed "dumping" of accumulated fees, and the seemingly fabricated movements in order to liquidate users using margin calls in flash or unexpected movements, combined with tether propping up the prices, and no formal audit.
if this spreads enough and enough users lose enough trust in bittrex, could there be a collective cash out and move away from the exchange, effectively flash crashing btc, and creating a run which reveals the stuter potheads that.... which reveals that bitfinex and tether don't have the capital to make good on the contract they entered with the users to provide liquidity and have enough capital to compensate users, creating mtgox 2.0, allowing big money to accumulate or short or crush the market,
or what about the possibility of the people in charge just exiting, and abandoning everything, letting it fall to pieces as they make the call to leave once their position becomes to precarious?
either way, I'm very wary of shit going down

sounds like you need to sell your Bitcoin and get out of this game

meh, I'm a trader; I don't really worry about things like price (psst....it's percent!)

investors, speculators, hodlers = consumers (retards)

those are the people I worry about/make money off of

you are a moron. go ahead speculate something you will never be able to cash out...

it's really pathetic if people actually fell for that lol

>The only crypto that never crashes

Tether is KING!

>meh, I'm a trader; I don't really worry about things like price (psst....it's percent!)
You sound like a reddit hodler lmao. This guy is 100% a crypto newfag.

>no u

kek he fell for the cash out meme

>says he's not a newfag
Then explain what everyone was so riled up about with Butterfly lab's Jalapeno miner and what makes them special?

Until people realize it has no real value and it hits $0

Exactly. They conveniently changed their shilling lines when they realised BTC would never be a viable currency and have any utility.

Now they just claim it's a "store of value".

It won't collapse but it would go sub 1K again. Bitcoin was a curiosity when it crashed because of Gox.

It now has futures and has the eye of the entire world on it. This crash would be much worse because it would be on every news outlet for weeks stymying growth for years.

this

I doubt it will ever go below 4K again.

It has value as long as people continue to use it, retard. And until something better to act as a tethered $1 comes along, they will continue to use it.

Tether is not backed by anything stupid fuck. Once they stop printing it out of thin air then people are left bag holding a fake coin at $0.

Wrong. All it takes is a large crash or significant uncertainty and there will be a run on Tethers.

Everyone will try to withdraw their funds and it's likely most exchanges will freeze withdrawals to stabilise.

The whole thing has been handled badly from the start. Exchanges should never have allowed a private entity to act as a pseudo-middleman- especially one that has been hacked and refuses to release audits.

need sources

Anyone else get San Diego Chargers rant vibes from this OP? Someone should do a full Tether/BTC version of that.