50m more tethers printed in the last 13 hours. GUYS THIS SHIT IS GETTING OUT OF HAND

50m more tethers printed in the last 13 hours. GUYS THIS SHIT IS GETTING OUT OF HAND.

Other urls found in this thread:

apolloslater.com/tether-collapse-scenario/.
apolloslater.com/bitcoin-is-a-ponzi-scheme/
twitter.com/RTorossian5wpr/status/936421429414899712
medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330
twitter.com/tetherprinter
twitter.com/NSFWRedditImage

i its backed by r real money right? right?!?!

crash incoming, 7k

i mean this is all fine and dandy to keep it le tethered to $1 in value
but what happens when demand stops and it tanks?

every day i wish we get a mt gox fiasco
that would bring us down to sub 3k

Yeah, I've just checked coinmarketcap and Tether has 840(!)m USDT. Half of it was printed in November, what the fuck. at this rate we will have over 1b USDT before EOY.

when the fuck will they release their audit?

Biggest pump in history.

Massive artificial BTC "demand" from this

yeah, now look at BTC, it's 11k again
|This is a problem, that is gonna cost people money, I got out already at 10.5.
Not gonna buy any soon, I'm scared of gox 2.0 or big hack

It doesnt matter. 25 million tethers are beign created RIGHT NOW. This means BTC goes up 700 bucks in the next 8 hours. Buy it and ride it to 12k. Sell when the US Gov announces an "inquiry" into the exchanges/tethers.

Didn't tether post in its terms and conditions that only a max of 675 million tethers can even be printed? I remember a whole big thread about it a few weeks ago.

heh

nothing personnel kid

why should they mint more tether if demand stops? Either it is expected that many coins from cold wallets are about to get sold to exchanges for tether and they don't hold the necessary amount of tether to match demand, or new real dollar are arriving to buy tether waiting to buy coin bags.

If I hand you a grenade that could explode any moment and give you $1k every 5 minutes would you hold that grenade?

I dont get it how is this bad?

The purpose of the tethers is to get out of the crypto market without getting out of whatever exchange you're using. That is very useful for anyone with brains who can predict a crash. Not to mention the fact that it takes fucking hours to make a bitcoin transaction, making tether even more attractive. I don't see anything wrong here.

the grenade is safe, bro. the fuse was audited by goldbergstein inc., it's not live.

kek

Can anyone, ANYONE explain why is this bad?

How does it feel to be the only brainlet in this thread?

So long as most exchanges don't offer crypto/fiat conversions, there will be demand for tether.

What's wrong with that?

Tether is crypto, you dont get out by buying tether as you cant trade it for usd

it's all FUD by bcash bagholders autistically screeching

I'm sick of explaining this. Read this: apolloslater.com/tether-collapse-scenario/.

>so long as we are forced to use car wash tokens, there will be demand for car wash tokens
THE ABSOLUTE STATE OF BITFINEX APOLOGISTS

...

Great source. apolloslater.com/bitcoin-is-a-ponzi-scheme/

>every tether is supposedly backed by a dollar
>in the end it's just another coin, every exchange has a huge disclaimer that basically implies that they can just decide to not pay you a single dime for your tethers, without any legal repercussions
>there is zero transparency about the tether printing process, they're basically printing thin air

people get their panties in a bunch over what central banks are doing, at least those have some form of regulation. tether is like a central bank in the hands of a mexican drug cartel.

Don't they have to "print" tether to match the new money coming in? I understand that they're likely not living up to their 1:1 match claim and that the exchange are probably using it for pnds but I don't see how this is such a big, market crashing issue.

>What if the flow of dumb money stops

You know how many dumb people there are and how much money is 'dumb' money? There are people on minimum wage driving 40k+ cars.

Dumb money = trillions.

These fucking niggers. And SEC is doing nothing about this? Is it because bitfinex is based in taiwan or some shit?

>Don't they have to "print" tether to match the new money coming in?
Their 3 out of 4 multisig was hacked, and you believe institutions are going to give them at least 25 million dollars every day for weeks?

oh and let me guess, you think there is some magical hard floor at the cost per coin, right?

I thought everyone was aware of this risk coming into crypto. You honestly can't expect protection until it's regulated and the market will tank when us regulation is announced

You're retarded. There's a difference between risk and illegal operations.

...

this is the only excuse i keep hearing about tether

>it increases liquidity, it's so awesome!!
>who cares about all the red flags. it could explode in my face at any moment, it's just the usual crypto risk, baby

yes, crypto is a risk, and tether is even more of a risk.

Aren't tethers on bitcoin blockchain though?

Most of the exchanges are as reputable or less reputable than tether. That's going to be the norm in an unregulated online market

AAAAAAAARGHAAGAHSDHASD

TETHER MAKE KILL.

NEXT ADOPT USE OF BITASSETS.

bitUSD KINGDOLLAR.

are there any coins or exchanges free from this fraud hurting them or does everyone list this shit

>s it because bitfinex is based in taiwan or some shit?
No one really knows where bitfinex is. I've checked those Taiwan shit and the informaiton they gave us is wrong or non-existent especially the accounting firm and EVEN THE LOCATION.

yes. until it blows up and then some more if you look at my trades lol

how is this different from the million btc clones that poof into existence and everyone gets credited with free money

The bubble is so clearly going to burst soon.
Wouldn't be shocked if BTC falls below $1000 by the end of the year.
Greedy fuckers ruining everything

top tier meme

>fiat
>"real" money

The government prints trillions of $USD every year.

Why is it that much of a surprise that millions of tether needs to printed to keep up?

90%+ of fiat are fucking numbers in bank accounts. The rest is literal pieces of paper backed by nothing.

Tether was not mean to be pegged to $USD not trust.

brainlet here
where can i trade my tether for usd?

>we fiat now

you do realize thats not a good thing, its what we are trying to get away from.

I mean it is meant to be pegged to USD(1 usd = 1 tether)not on trust.

Hello user, I've got a new coin called tether wojak (USDW). It's tethered to the US dollar, 1:1, and backed by my private stash (audit is coming, don't worry). I will buy a bitcoin off you for $11500. Almost 5% over market price, good deal don't you think?

Without those greedy fuckers. BTC will likely be in the $3000 range. However I am more optimistic. Tether can just print magic cash because there is really no stopping them.

somebody needs to do this if you aren't going to have the balls to test the stupidity of the market again

haha yes look at that imaginary money backed by nothing at least USD is backed by go-
oh no

No shit. But the point of tether is to be valued around $1.

So when the government prints trillions of USD and the value of tether on the USDT/USD markets creeps up past $1.00 they print more tether. Not a hard concept to understand?

Problem with your FUD is that the price of bitcoin on a lot of BTC/USDT is actually lower than on BTC/USD markets due to cost of dealing in fiat.

what the fuck is tether and why do people allow them to print free money?

>where bitfinex is

>Bitfinex is a remote culture environment with team members globally distributed across Asia, Europe, and North and South America.


I dont know why ANYONE has money in this thing

I dont care as long as it will be 15 by the end of dec.

>new fag bought at 11k

Its crypto that is "pegged" to the USD. So you can short other crypto without having to actually deal in fiat.

When tether starts creeping up in value past $1 they issue more to keep it at one dollar. They have to issue a lot because of how much money the government is printing these days.

Are you paid in tethers?

why aren't people dealing with real money then?
just some random entity decides to make tether and everyone follows along?

>hurrr da us gov does it so why cant we lolololol

t. deluded goy on here

Because its expensive and cumbersome for exchanges to deal/manage with actual USD balances when USDT is crypto and does it all for you.

Yes, its "some entity," that's the entire problem with fiat. You have to trust "some entity" like a bank or the government. That problem exists in any fiat currency or any asset pegged to fiat.

90%+ of fiat transactions don't literally result in physical paper slips changing hands, they are numbers on a bank balance changing. Yes, you have to "trust" "some entity" to manage the balances of fiat, there is no underlying blockchain.

Largest tether exchange operates outside U.S. jurisdiction.

Money laundering is border-less.

What makes tether any different from banks using digital numbers instead of "real" USD? 90%+ of fiat is not represented by actually physical money, just bank balances, digital numbers that represent USD balances. The exact same thing as tether, except tether is at least backed by a blockchain.

I don't understand the whole

>muh demand gotta print more tethers or it's gonna go to 100$

Seems pretty retarded as there is nothing backing Tether or making it worth a dollar other than the fact Bitfinex says so and people are willing to play along. I don't think you guys really understand economics.

Shill more.

Do these fags have no obligation to show evidence that all their Tether printing is backed by dollars? Or are people just taking their word for it?

>there is nothing backing Tether

Except all the crypo markets where you can trade 1 tether for 1 USD?

"backed by nothing," except you can trade it for USD and bitcoin, no different than any other crypto which has value.

this. A REAL audit, not that transparency report bullshit.

I NEED TO KNOW THIS

I'm not fucking buying back if I can't be sure this price is manipulated beyond belief.

I got the fuck outta btc, shit is dying, plus chad doesnt wake up till 12pm

So then why argue the price is going to skyrocket unless they keep printing tethers? Who is going to pay $2 for something that can only be redeemed for $1? Also the Tether TOS claim they do not have to give you $1.

Are you willing to sign an NDA sir? twitter.com/RTorossian5wpr/status/936421429414899712

Those digital numbers can be enforced with laws and contracts and shit whereas tether's fine print literally tells you that this is all bullshit

This guy is literally a shill for bitfinex/tether

fuck the right one in the mouth and cum on the left ones taytays

Lol you fucking retard

Because you can also trade tether for other crypto including bitcoin. Arbitrager trade the difference driving the price up unless more tether is issued.

saved

And you probably shorted bitcoin and are now desperately trying to spread FUD about tether. Just suck it up and learn your lesson, never short bitcoin. The bull run is not caused by some tether conspiracy.

you can't cash out

I wonder who could be behind this post?

How fucking retarded is /pol/?

An obvious fraud is commited in a big hyped market and you instantly go to blame ((the fed))

Go back to sucking Donald's withered old Alzeimers dick

go back.

medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330

I'm sure you read this already but how anyone could read it and deny Tether is pumping BTC on margin is beyond me. All the facts are right there.

You retards do realize that the Tether supply needs to match the new money coming in crypto, right ?

Back in June Tether supply was like 300 million and total crypto market cap was 120 billion. Now Total crypto market cap has more than doubled, isn't in natural that the tether supply would have doubled as well ?

Anyway, it's been proven time and time again that all you tether fudsters are autistic bcrash retards so I'm done with you. Not to mention that TETHER ISN'T MONEY. It's worth nothing, it's just a token.

To be honest I fell for that FUD in august when BTC was $4k. Shorted and missed the pump to 5k. Luckily bought back in low 3000s and made a killing. Trust me, never fall for fud.

This is never going to collapse is it? Big players aren't simply going to cash out so this will go on forever. They will actually manage to de-decentralize crypto with fractional reserve tethering. I'm impressed.

>not agrreing to this deal, then convincing someone else to hold the grenade in exchange for 1/4th of the money and taking out a life insurance policy on them
Goy detected

Dumbfag question, is my USD balance on buttfinex actually USD Tether?

Fucking fud lol. Anyone can check the shit chink audit tether have released and see that it's shit.

Tether is not even useful for users. It is only useful for exchanges and even that reason is shit. It is literally only useful for bitfinex.

I sold around 10k and will get back in at 6k if the chance ever comes. If Bitcoin goes off to 50k without slowing down I'll have no regrets.

I still have some ETH at least and I feel 2018 is going to be its year anyways.

No.

I will agree Tether is very useful on Binance and Bittrex and is pretty much essential for exchanges that can't deal in cash transactions. But there should be way less of them and those are the only places it should be. I shouldn't be just as nervous holding Tether as I am Bitcoin.

Can someone explain me tethers? I tried reading on them and have known them for a while like a USD backing, but I'm a brainlet and dont get it. Is it to try and stabilize price or something

twitter.com/tetherprinter

Its just a crypto that is begged to the value of USD. The point is exchanges use tether so they don't have manage USD balances, they let the tether blockchain do it. A lot easier and cheaper.

>But the point of tether is to be valued around $1.
yup and tether magically has some anonymous millionaire backer to keep tether at a constant $1 usd because remember tether claims that its backed by real money in their accounts kek

tether is approaching 1bn, user do you even know how complicated it is to put 1bn in an account? no country in the world will not tax that shit

This. I still remember everyone saying their buy orders were at 1600 after it dipped to 2k