I'm all with him/her about the tether situation but damn...

They send it not on bitfinex. You are blind.

Wash trading you fucking retard.

The entire crypto market is manipulated you fucking newbie.

You are confusing marketcap for volume. Tether isn't being used to hodl BTC. It's being used to wipe out sell pressure and push buy orders higher. For over six months straight now.

Your problem (other than fear-mongering) is you don’t understand how it works. Tether HAS to increase with crypto demand if it’s useful (which it is), it’s only natural. USDT provides liquidity and a hedge, things that increase with volatile moves (ATH’s/corrections). Add to that all the exchanges that have come online (Asia especially) that use USDT to provide liquidity and it’s easy to understand why they increase and where the money is coming from.

Everything you write operates from a flawed premise, that 600m tether jumped the market cap from 20Billion to 225B. Not Korea joining crypto, not Japan accepting it as a currency, and not every other metric growing exponentially (google searches, market cap, wallets, transactions, MSM, etc).

just a little more and shit freezes up again
money will dissapear
grabs popcorn

>The crypto-coin market has grown $200bil since May ... and everyone's losing their minds that Tether has reached >$600mil? BAKA

>The entire crypto market is manipulated you fucking newbie.

There, you just proved my point.

>gov't prints money
>that money is printed through usdt

wow did u no all u had to do was hold btc

Claiming spoofing shows this person has limited markets/trading knowledge. Clearly they haven’t watched an order book of any exchange in crypto, equities, or Forex.
This is called scalping or scare walls. Again this is done in every market around the globe.
Here is a professional FOREX trader talking about scalping, how it works, who/why they do it. youtube.com/watch?v=EYMIPmgRb_M&list=WL&index=94
TL;DW - they do this to get the price where they want it because they know people are watching the order book (the video is quite enlightening), and the key point that keeps this from being an illegal activity (on regulated exchanges) is THAT THEY DO MAKE TRADES FOR THOSE SIZES eventually. This doesn’t always work and they get stuck in these positions. Risk/reward.
The ironic part about this spoofing idea is Finex is one of the few, if not only exchanges, that offer hidden orders. So people trying to scalp always have to worry if there is a monster hidden order lurking.

Tether would be useful, if it weren't fraud. Investors aren't sending hundreds of millions of dollars to an undisclosed mystery bank for unredeemable placeholder tokens.

600 million USD is a great deal of money to move the market with. Perhaps you'd like to understand Tether and Bitfinex better. Here are some links for you.

Tether Hack

coindesk.com/tether-claims-30-million-stable-token-stolen-attacker/

medium.com/@michaelx777/is-tether-being-used-for-money-laundering-34b29fdc2b74

Tether, The Business

medium.com/@michaelx777/tether-drama-continues-cfcd59749a3b

medium.com/@bitfinexed

apolloslater.com/tether-collapse-scenario/

archive.is/SUMJF

news.bitcoin.com/paradise-papers-reveal-bitfinexs-devasini-and-potter-established-tether-already-back-in-2014/

Media Attention

bloomberg.com/news/articles/2017-11-21/tether-theft-isn-t-the-first-controversy-for-cryptocurrency-firm

mobile.nytimes.com/2017/11/21/technology/bitcoin-bitfinex-tether.html

thestar.com/business/wealth/2017/11/25/another-large-bitcoin-exchange-draws-warnings.html

Curiosities

cryptovest.com/news/whats-going-on-with-tether-15-million-omni-tokens-failed-to-transfer/

medium.com/@mathias_61938/the-man-behind-the-curtain-81ecf49fa339

cryptovest.com/news/tethers-printed-while-site-blocks-login/

cryptocoinsnews.com/bitfinex-goes-maintenance-mode-bitcoin-price-hits-time-high/

Related

voxeu.org/article/price-manipulation-bitcoin-ecosystem

cointelegraph.com/news/bitfinex-struggles-with-money-withdrawal-community-observers-predict-mtgox-scenario

cointelegraph.com/news/breaking-news-bitfinex-fires-us-customers

news.bitcoin.com/bitfinex-to-terminate-services-to-us-retail-customers-by-november-9/

According to this, the cold wallet of bitfinex, that is, the wallet that represents the holdings of what people have on the exchange plus the holdings of the exchange itself, is only 1.8m.

This despite that exchanges with lower to similar volume like poloniex and bittrex, have 180m and 334m representing the holdings of the people who use the exchange and the holdings of the exchange itself.

Bitfinex is the exchange of these where it currently makes the most sense to actually have tether, because you can use it to short and long.

Ultimately, this means that it is extremely unrealistic that user funds on bitfinex and bitfinexes own tethers only amount to 1.8m.

Unless bitfinex doesn't have their users tethers at all and sold them all, sold hundreds of millions of tethers that are supposedly owned by their users.

Holy fuck I think you just accidentally uncovered that bitfinex is selling the assets of their users.

I'll try again ... Coinbase is adding 2mil new users this month alone, yet you believe a 'Tether conspiracy' is moving the market?
All your arguments are flawed and based on far-reaching assumptions

>600 million USD
user, i...

I'm actually okay with this IF / WHEN bitfinex is going to get audited (for real) and it shows they actually own 1:1 reserves.
ofc usdt supply has to increase, no one is saying that's wrong user

>I'm all with him/her

Not realizing it's a professional team. Oh user.

>ignore mountain of evidence that tether and bitfinex are shady and have been playing with the BTC price because there has been new people entering the market that have also been affecting the price

Not sure if willfully ignorant proud "conspiracy skeptic" or just one of the bitfinex crew.

>tether and bitfinex are shady
All crypto-exchanges are shady. Is they running a conspiracy too?

>Are they*

I've barely made an argument, friendo. Which of them, exactly, are flawed? What assumptions, exactly, have I made? I fail to see a counter argument to the most basic assertions.

Tether has promised yearly audits for three years. Exactly zero have been performed.

Tether simultaneously claims to be backed by USD, yet is under no obligation to return USD for Tether.

Bitfinex has no US banking. Even Wells Fargo, facing multiple lawsuits for screwing their own customers in a multitude of creative ways, won't deal with Bitfinex. At the same time as their last US bank is cut off, Tether becomes unusually popular, and Bitfinex suddenly and miraculously has US depositors coming in again. The motive exists.

There is every reason to believe that Tether is playing a major role with prices going exponential.

voxeu.org/article/price-manipulation-bitcoin-ecosystem

Here's a nice description of how prices can be manipulated using counterfeit or zero cost orders.

I really don't mind crushing you. It makes this information available to others that would otherwise not understand what is happening behind the curtains.

Oh fuck I recognize your way of speaking. You're that faggot speaking for bitfinex on that Tone Vays video aren't you?

A lot of crypto-exchanges are shady in some way, yes, but none have had the impact on the BTC price that bitfinex has had. Without fail, a price drop always stops and a pump continues shortly after new tethers are minted. It's so fucking obvious.

this guy sold when btc was at 1200 usd, ofc the cuck is salty and wants it to crash

It's a great pleb filter - anyone who takes this whole muh tether situation seriously is an idiot and not worthy of anyone's time.

this, dude salty as fuck

>It's so fucking obvious.
Good argument. You won

Bitfinex is the FED of crypto, what they are doing is immoral. We should abolish both institutions. I have the feeling only one will. However if the usdtether scheme collapses by pure market forces you should see it as a warning shot for the faith if fiat currencies.

Today.

>him/her
baka

Can someone give me a quick rundown on Tether?

I never understood the foundations of this tether issue considering how many exchanges are accepting it. If it was a sham we would already know about it, I doubt exchanges are riding on someone else's scam no questions asked.

This doesn't surprise me one bit. The crypto space is full of clowns and con artists. Everyone is riding on the "money" until game over. Only the smart people who manage to cash out will win.

Sad thing about Tether is EVERYONE can see something shady is going on, but coiners won't admit it because they gain so much from it

But remember - you're a fucking moron to suggest this, of course - until that day comes and people are crying