25 million more tether printed and bitcoin starts going up again

Wow. Another deluded newfag. Do some research before outing your opinion as a fact fagot. Fuckin newfags

>btc mooning
>alts pumping
>bitfinex goxing

proof?

Well the trend continues today, look:

coinmarketcap.com/currencies/bitcoin/#markets

Bitfinex, which is printing the tethers and allegedly the source of the pump, is behind korean exchanges by $1000.

Blacked by bitcoin

err no

It's behind because people can't withdraw from Bitfinex, thus increasing the supply, thus tanking the price.

>using tether
>not using nubits
makes sense actually. but if i'm trying to bail on a major crash i use nubits. can't help but feel tether might be a trap to catch as many people as possible with their pants down in the next crash when they pull tether. a hyper pump and dump.

i bought some tether by accident yesterday on bittrex by selling bitcoin. i didnt even know bittrex had tether. is that bad? does that mean bittrex will be fucked if tether crashes?

omniexplorer.info/lookuptx.aspx?txid=0a390cc7273386a6c96ee6d6329c747dd43b4c899680ba41d897a42bdc707d70

Are you blind?

I'm talking about price, not volume you retard.

price means shit of youre trading in a different currency with tiny volume

Bithumb volume is almost identical to Bitfinex you absolute braindead cunt.

I agree.

omniexplorer.info/lookupadd.aspx?address=3MbYQMMmSkC3AgWkj9FMo5LsPTW1zBTwXL

>It's been 9 days since they last issued Tether.
>They do $2,562,275,645 worth of trade volume in 24 hours.
>Extrapolated to 9 days that's $23,060,480,805 traded on their exchange.
>25 mil is 0.1% of that.

People can't comprehend big numbers.

But the people who have a monopoly on violence print USD

>legal
Don't worry the international board of cryptocurrency led by satoshi, vitalik, and jihan are on this case.

>theres only one usd exchange

>i bought some tether by accident yesterday on bittrex by selling bitcoin.

whoops I bought USDT instead of USD

>i didnt even know bittrex had tether. is that bad?

Bitfinex, Bittrex, Poloniex.

wallet.tether.to/richlist

>does that mean bittrex will be fucked if tether crashes?

That's not the way it's going to happen. A correction would cause a crash because there's fake money in 3 of the big exchanges- the can't cash out thing is a meme right now but it would get very real when all people can get is a tether instead of a dollar.

They're desperately trying to unwind it behind the scenes so that they can keep the rally going and balance their books.

Did you magically missed the tether that was printed yesterday?
This is the people you get your information from Veeky Forums
Retards to stupid to read a webpage.

Have you taken 5 mins to look at all the other exchanges that deal with fiat money like the japanese yen and the korean won (bitflyer, bithumb) the price on those exchanges is way higher than the price of bitfinex and usually the pumps happen on those exchanges WITH REAL FIAT bitfinex just follows along honestly you're retarded if you think bitfinex is the one raising the price of btc with "fake tethers"

Is that what I said?

1.19 billion isn't "tiny volume" by any measure you dishonest little coward, and that's what I was responding to. It's 10% of the total trading volume, and there are several other high volume asian exchanges in the top 10, all of which are leading the Bitfinex price.

Now fuck off back to your hole brainlet.

compare the total trade volume in usd vs jpy and krw, then youll see that yes trading in moon currency is tiny fucking volume

Wow. I know, you stupid fucking retard. I'm saying the last time they printed before today was 9 days ago, they've been earning more than enough money in those days to back 25 mil.

Yesterday* whatever point still stands.

You have money in tether don't you?
Get out while you can man. Never trust people that say, "Oh I totally have the money to back you up. Totally bro."
I'm trying to help but you guys want to go play with literal fake money all power to ya.

The asian exchanges combined have a much higher volume than bitfinex, and lead the price. Your theory makes no sense and your dishonest attempt to say the asian volume is "tiny" simply because it doesn't comprise a majority is pathetic. Bithumb has MORE than enough volume alone for the price disparity to be significant.

I don't, you just don't comprehend what a small amount of money 25 million or even the entire market cap of tether is to an exchange that trades 2.5 Billion per day.

CHRISTMAS IS COMING GUYS, CUT THE CRAP AND BACK TO TETHERING! 1 2 3 1 2 3 1 2 3 1-
>Hey didn't see you there Veeky Forums welcome to BITFINEX™

>in a circlejerk everyone gets serviced, man. it's perfect!

Well it would be fucking fishy if they just started printing hundreds of millions of money out of nothing. So they do it in smaller increments. To make a scam work, you have to make it look sort of legitimate or no one will bite. Ok there will always be a retard or two that bite but not at this kind of size. These tether fucks could literally walk away right now and fuck everyone attached to tether royally up.
25 Million is small but not if you keep doing it over and over over and over over and over over and over over and over over and over over and over over and over over and over over and over over and over over and over over and over

krw/btc by itself is 14% of the total 24hr volume. yes its tiny and will not move the market

>FFS the logo even looks like an atom bomb goimg off

Why are they always printing $25m?

>hurr durr it's tether durr

keep crying you idiots, the train is going with or without you, losers, I've seen many crypto experts existing at 10k because
>hurr durr normies, mainstream crash hurr durr

HAHAHA fucking losers with no balls

>b-bu-but tether man
shut the fuck up.
If bitfinex buys btc with tether it means someone i willing to sell his btc for tether. simple

anyway, picrel just to piss you off faggots

Engage.

Their total liabilities for tether right now stands at $839 mil. Are you saying that's too much money for them to afford?

>People can't comprehend big numbers.
Looks like you can't comprehend that volume like market cap means nothing.
Exchange bots can sell each other 25mil 100 times and that will be your volume. Have you ever heard about wash trading or painting the tape?
Also tethers aren't used for buying all BTC. It is used for triggering stop-losses when the price is suppressed buy short orders. Brake some imaginary resistance line or stop it from falling behind one and bots and gullible neets start buying instead of selling because 'omg it is going 20k buybuybuy'.

>Are you saying that's too much money for them
well if you ask tether they wont tell you

You're missing the point, Bithumb has 10% of global volume, the idea that the price disparity is due to "low volume" is utterly absurd. That kind of volume based price disparity is a result of slow trading and limited liquidity, which is clearly not the case here.

Also, it's fucking hilarious that you think 25 million tether is capable of moving the market, but 14% of the total volume isn't. Asia has DEMONSTRABLY been leading the last few pumps, it's not an opinion it's a fact.

they have a lot more than that

You.. retarded.. piece of shit. You think fucking trade volume doesn't matter for an exchange? You don't even realize that's how exchanges make money, by taking fees on the trades? The more volume, the more money the make. Wow I can't believe you didn't even understand that basic fact. Shut the fuck up. Seriously.

keks I love how every time Bitcoin is about to crash Bitfinex prints more Tethers, they will make us all millionaires in one year or two with this scheme.

25 million tether is pure "capital" injection, its apples to oranges comparing to trade volume in non usd.
you have to show that theres abritrage between btc traded in krw and btc traded in usd. otherwise btc/krw is just trading within itself, and the difference in price is just a fucking premium for trading in moon money that 85% of the market wont touch

>you have to show that theres abritrage between btc traded in krw and btc traded in usd

No I don't, true arbitage hasn't been feasible in the past few weeks anyway due to the state of the network. I simply have to show that Asia has been leading the price, which it demonstrably has. The tether conspiracy cannot work without tether backed exchanges leading the price. Deal with it brainlet.

no you do.
you have to show that the amount of btc traded in krw which is 15% of the trading affects the 80% of the trading done in usd.
why would anyone follow krw prices if they WERENT trying to arbitrage? they'd just ignore it

Are you fucking blind from drinking to much drano you fucking dingus? I never said volume doesn't matter. I said volume doesn't represent amount of real funds transfered between parties, because it so easy to fake. The whole point of faking volume is to attract more traders that will pay fees.

>why would anyone follow krw prices if they WERENT trying to arbitrage? they'd just ignore it
>implying crypto traders aren't heavily strung out gamblers who want everything to moon and are incredibly easy to run into a panic
>implying people don't push eachother to chase the highest prices regardless of capital controls and you have never seen anything like that
>implying there is real arbitrage across a network that can take hours to clear transactions and strict limits imposed on korean banking

>The whole point of faking volume is to attract more traders that will pay fees.

Wash trading

im saying there isnt arbitrage. the usd trading price in unaffected by what happens in korea

sorry, your chain of arguing is hard to follow

you need only understand that one sentence in my last post

either way that's wrong, people across the board chase korean prices and ignore the actual VWAP of bitcoin when taking price into account - the normies are almost completely price-insensitive and don't care about paying premiums for assets they can easily obtain cheaply with little to no effort elsewhere

>people across the board chase korean prices
but why?
why does the majority usd trader want to follow the minority krw trader?

look at is this the minority? sure, there's plenty of fake volume that goes around in crypto trading and some interesting FUD that was posted about bithumb potentially "not being real" lel but i'm fairly sure that they are legitimate. I could be wrong, and it would certainly be something.

You're not getting this, it has nothing to do with arbitrage. BTC price rises are primarily a result of people attempting to ride a bull run. When the price narrows between exchanges, it's not due to arbitrage. It's because people look at the average price on CMC, notice that BTC is priced lower on exchange X, and thus begin buying there, quickly driving the price up closer to the average. It's not arbitrage in the traditional sense, they're simply betting that the price on the exchange will meet the average price soon, which becomes a self fulfilling prophecy.

Korea leads the price by dragging the average price up. 14% is more than enough to do this.

>I never said volume doesn't matter
>Looks like you can't comprehend that volume like market cap means nothing.

Buy anyway. It's a well known fact that bitfinex has been the biggest bitcoin exchange for years before tether was even a thing.

data.bitcoinity.org/markets/rank/5y/USD?c=e&t=ae

By the way they don't only use the volume as an indicator of the ranking, they did an analysis of the orderbook as well.

bitcoinity.org/markets/rank_explanation

that guy really shouldnt cancel out tether trades because its still a capital injection.
and bitfinex does trade usd fiat. even if the split is not 15/80 its still a minority.
i dont ANY market where the majority capital follows minority capital

like i said majority capital does not follow minority capital

You still don't understand. Forget about minority/majority, people follow THE AVERAGE PRICE. By dragging up the average price by a few hundred dollars, korea encourages people on western exchanges to buy up to that average .

no the opposite should happen.
koreans should wait to buy in at western prices

That's precisely WHY they are leading the price, they are fucking idiots. They should wait to buy at western prices, but they clearly aren't, so I don't see your point.

in your scenario everyone is an idiot. the koreans for buying high and everyone else for giving a shit what koreans do

Lots of amazing opportunities coming just join to make money discord.gg/dwBNmtD

"everyone else" in my scenario doesn't give a shit about what the koreans do, they're simply chasing the average price.

And yes to a greater or lesser extent the majority of people trading at the moment are fucking idiots.

you better start believing in his scenario
yer in it

Christmas eve

somebody has to give a shit about what koreans are trading at in order to assume this price into the "average"
but you still cant prove anything youre saying, and whats more your entire argument is "everyone is fuckign dumb"

...

The average price as displayed on CMC, coindesk etc incorporates the korean price, most people won't be looking deeper.

As to my argument, the idea that people chase the average price is the ENTIRE PREMISE of the tether conspiracy. The idea is that tether backed exchanges raise the average price, and other exchanges follow suit.

The difference with this theory is that it goes against observable facts. Unlike Korea dragging up the average price, which is 100% verifiable.

>the idea that people chase the average price is the ENTIRE PREMISE of the tether conspiracy.
no, the price can be averaged due to arbitrage

Coinbase has days with more than 100k new customers. Even if they buy only 50$ that's 5 million a day of new money.
The normies I know put 500 or more, and that's not counting the rich guys putting way way more via other means.
Tether might help push the price but thinking bitcoin would be at 2k without them is purely retarded.

English isn't even my second language but even i know difference between means and matters. Sorry it was so confusing to you.
By the way faking volume implies faking order books too.
Also its not about how big Bitfinex was, more like how big it got even after loosing a bank and banning all burgers.

But who is pumping in the tether? an exchange?

>the idea that people chase the average price is the ENTIRE PREMISE of the tether conspiracy.
no actually it's not even half of it
the main question is liquidity of bitcoin
let me make an oversimplified example: if person A buys 1 bitcoin with cash for $8k, person B buys 1 bitcoin with tether at the same price and person C buys 1 btc on margin with $4k tethers, how many of them can actually cash out at $16k?

>news just in: USD backed token is printed out of thin air!!

>worries about tether printing while holding USD
>"bitcoin is in a bubble!!!!!!!!!1"

FUTURE SHORTERS GOT BTFO!

>12 geese a laying

>Norman buys btc for fiat for whatever reason with fiat
>sends hit coins to exchange
>Trades back and forth via tethering

Usd is exchange for tether.

>an exchange that trades 2.5 Billion per day.
you mean an exchange that shows you an order book from a completely different exchange alltogether? GO BACK TO BITFINEX YOU SHITFACED TETHER TROLL. And tell your boss to go fuck his butthole with a flag pole.