Tether just printed another $25MM

probably just a coincidence that people on reddit are complaining that their bitfinex wallets are all fucked up

Fake USD available to buy BTC, artificially pumping its price.

You welcome, newfriend.

When you remember someone has to actually want to convert their btc to tether at the bottom of a dip for muh fake usd to have any impact on price.

unless the dip keeps dipping...

tether daddy best daddy

buying bitcoin when tether is printing is the easiest guaranteed way to make money

HAHAHAHAHAHAHAHAHAHA

Bitcoin back up. Tether saves the day again

it kind of would make sense if this was some scam by some old school bitcoin people to keep bitcoin at the top of the heap. tether started going crazy in april back when ETH had it's first 400% moon and ETH started gaining like crazy the last few days when the tether well ran dry. maybe they kicked it into overdrive the last few months because of bitcoin cash?

This shit is so fucked up. It's a trap for newbies for a "safe haven" for your coins.
THERE IS NO SUCH THING WHEN YOUR MONEY IS IN COINS

IF YOU WANT A DOLLAR USE THE FUCKING UNITED STATES DOLLAR

WHY THE FUCK THEY AREN'T PRINTING FASTERRRRRREEEEEEEEEEEEEEEEEEEEEEEEEE

Isn’t the address like A shed

Why are tether minted in such irregular, large sums? Given how it's funded shouldn't this be growing continuously by small to medium amounts?

SHUT UP FAGGOT, DON'T YOU WANNA BE RICH QUICK?

They probably had to sell off a heap of BTC and wait for the funds to clear with their bank before printing the tether.

All this tether FUD is baseless, the market has shot up quite literally hundreds of billions of dollars in a few weeks from normies piling in and you autistic faggots are worried about what? 500M tether bring printed in the last 3 months?

Kill yourselves

if they were going through all that trouble to be legit, then why wouldn't they show us?

>Doesn't understand that market cap isn't an accurate representation of how much money went into something
25M can push mcap by billions.

All the money laundering activities they're busy engaging in obviously, I don't give two fucks if they launder money

Margin demand on bitfinex is crazy. 0.8% minimum rates for longs on xrp yesterday.

You actually think that marketcap represents the REAL amount of money in it? The current price only reflects the amount of people are willing to pay. The amount of bitcoins in exchanges and actively being traded is minuscule compared to the total supply. \

Here's what Tether does.

>Have 100 bitcoin
>worth 1700k USD
>print 1700k tethers, each of them backed by 1 USD 'held in reserve' (actually just coming from the value of the bitcoin
>Use this 1700k to buy more bitcoin
>Bitcoin price goes up + you own more bitcoin
>Print more tether because of this

ad-infinitum

HOW? just volume and painting the tape?

But they said they're good for it so everything should be cool

>They probably had to sell off a heap of BTC and wait for the funds to clear with their bank before printing the tether.
Get a load of this guy.
trustnodes.com/2017/11/22/bitfinex-reveals-new-polish-bank-account-panama-registered-company

This bank? Wells Fargo won't touch them. Taiwanese banks won't touch them. They refuse to be properly audited despite losing a lot of business and reputation by not doing so.

The tether that people "have" on bitfinex isn't even tether, but credited IOUs for tether. Yes, IOUs for tether, which is dollar IOUs (that are fake). wallet.tether.to/richlist Look at this shit. Their exchange wallet which should probably have 500m+ tether considering what their users would have, and it's nearly empty. It has been as low as 1.8m before.

Not only are they scamming people with the false promise that tether is backed by USD, but they are also having an extra layer of scam on top by sending their users tether to other exchanges to sell that tether there, and who knows what they do with fake credited tethers with longs and shorts on their own exchange while they manipulate the BTC price.

Its not a scam the size of the tether mcap. It's a scam multiple times that size.

You're either a bitfinex crony or you're one of the top 2% most bluepilled individuals in all of crypto. Even "muh store of value" corecucks can legitimately laugh at you for being this gullible.

oh well as long as tether is only an instrument to facilitate international money laundering then it should be a safe investment

heh, just by the dip and shut your god damn mouth

Because they probably see large purchases at a time and create large stores at regular intervals to sell piece by piece. They have no reason to mint a tether every time someone gives them money, they have millions from the last minting to distribute. Then they print more reserve as they get low. That's my theory, anyways.

who the fuck invests in tether? lmao

>Coin market cap is 100 bucks
>One coin is 1 buck
>I have 5 bucks
>I buy 2 coins at 2.50
>Market cap is temporarily 250 bucks from 5 dollars of money put in, until people sell

It's a bit exaggerated but you see the point. Market cap is circ. supply x cost per coin. If people buy a lot at asking price and drive up the price, it will disproportionally increase the market cap compared to the money put in. This is why having high volume at a given price is relatively important.

That would be everybody who has money on bitfinex

>tether is backed by the BTC people use to buy it, not dollars

This is why tether needs to be private (as far as the owners are concerned), because in order to mint more tethers they SHOULD need more dollars coming in. Being able to trade BTC for tethers at all is effectively fraudulent unless they automatically sell that BTC to back tether with the dollar equivalent. But guess what: we don't know if they are doing that. Printing more tethers to give to people buying tether with BTC is hugely, insanely questionable. tethering your BTC should be equivalent to selling into fiat (by having that BTC sold immediately, for USD parity.) any profits gained by holding your BTC as a tether seller is effectively fraudulent, because you are using btc profits to buy more BTC with. Tether is a BTC accumulator and they're buying their btc with printed money. When btc crashes, you will see a metric fuckton of tethers printed for people "cashing out" and when the people realize there was only BTC in those coffers and the only people who made off with money were the people selling fake dollars with literally no guarantee on them, heads will roll.

that is what i think actually.
its clearly manipulation. its issue timing is deliberate

>muh buttcoins are cool because you can't print new ones!!!
>proceeds to blow a giant bubble with fake funny money a la federal reserve printing new cash

ISHYGDDT