How Tether is always $1?

TalkBomber
TalkBomber

How? What do they do, so it's so steady?

All urls found in this thread:

twitter.com/tetherprinter
medium.com/@bitfinexed/the-bitfinex-dilemma-blow-up-now-or-try-a-hail-mary-to-retain-in-business-10b9d989359f
medium.com/@bradfrankel16/why-a-tether-audit-would-ruin-bitcoin-96da091cc154
medium.com/@BryceWeiner/now-i-have-to-blog-about-it-5ea222d9e9a
jibrel.network
twitter.com/Bitfinexed
twitter.com/Bitfinexed/status/953398351889944576
twitter.com/Bitfinexed/status/953253089301188608
twitter.com/Bitfinexed/status/953014563280125952
twitter.com/Bitfinexed/status/952625671125307392
twitter.com/Bitfinexed/status/951947394391961600
twitter.com/Bitfinexed/status/952616609230794755
medium.com/@untetheredbtc/how-the-tether-usdt-distribution-system-works-84a5c673bec0

likme
likme

lmao

TalkBomber
TalkBomber

Whales accumulating. Moon mission next week. Get in now.

SniperWish
SniperWish

It's just consolidating this shit is going to moon soon I can feel it

DeathDog
DeathDog

bro, its a scam.

Tether will destroy btc in the end.

ZeroReborn
ZeroReborn

Doesn't know about the Bogdanoff partnership
Untethered in 2018

Nojokur
Nojokur

Don't worry bro, it'll be $20 eoy

Bidwell
Bidwell

Tether is literally a ponzi scheme

kizzmybutt
kizzmybutt

Tell us why. Everyone screams scam and spreading the same boring FUD

WebTool
WebTool

It's value is backed by real money. Of course it's a scam and the money doesn't actually exist.

StonedTime
StonedTime

I fucking guarantee that people are "holding" way more Tether than actually exists right now. The real crash still hasn't hit. Get out now normies.

Gigastrength
Gigastrength

proof? Exactly. there is none. They're printing it with no proof of backing. They've apparently been undergoing an audit but even that has turned up nothing. They've said all this shit and shown us no results. meanwhile...

twitter.com/tetherprinter

Booteefool
Booteefool

There is no evidence that printed Tethers are actually backed by fiat reserves

lostmypassword
lostmypassword

Obviously the have to print more tether when the demand goes up otherwise you cannot guarantee a $1 flat price.

The demand especially goes up in Dips and crashes which are leading to more tether.

Once the demand flattens out and ppl rebuying the correction, tether will be sold and burned for fresh Fiat to back the system.

Muh tether scam

Emberfire
Emberfire

GTFO.

How it is backed then if money doesn't exist? Exchanges are not that stupid, right?

SniperGod
SniperGod

This.

You are basically buying IOU's, when you buy tether.

It's literally just like buying NOTHING, that you all mutually agree is a dollar. Therefore, when you trade it for crypto you inflate it.

King_Martha
King_Martha

You are basically buying IOU's, when you buy tether.
real dollars are just IOUs by the american government desu

Methshot
Methshot

so like fiat? hm maybe it's not that bad after all

PackManBrainlure
PackManBrainlure

You. Fucking. Retard
medium.com/@bitfinexed/the-bitfinex-dilemma-blow-up-now-or-try-a-hail-mary-to-retain-in-business-10b9d989359f

medium.com/@bradfrankel16/why-a-tether-audit-would-ruin-bitcoin-96da091cc154

medium.com/@BryceWeiner/now-i-have-to-blog-about-it-5ea222d9e9a

We are standing on quicksand

Carnalpleasure
Carnalpleasure

It's literally just like buying NOTHING, that you all mutually agree is a dollar.

So like a $1-note? kek

RavySnake
RavySnake

Right, but the government backs your dollar IOU with nukes.

Whereas, Tether is backed by a shadowy crypto company, that they "claim" is backed.

Dreamworx
Dreamworx

i think tether/bitfinex will be the reason for next big crash. what we're seeing right now is nothing.

Raving_Cute
Raving_Cute

LOL at nukes.

Lunatick
Lunatick

Yeah and in case of a bank run, assets are insured and can be bailed out by taxpayers
Who's gonna bail out us if there's a Tether bank run?

StonedTime
StonedTime

tether is a scam as there isn't a USD equivalent for every USDT
When everyone wants to convert back into altcoins and btc its gonna be a shitshow

DeathDog
DeathDog

Why isnt there a Tether competitor? Would be great for us in form of security.

Crazy_Nice
Crazy_Nice

ah, I see you are a man of culture as well

Techpill
Techpill

Why? Then you will have another coin like Tether with no backed up fiat in their bank account.

Burnblaze
Burnblaze

Just shows the perfect system we are living in.

Bank goes bankrupt
Muh taxpayers pays for a private business bankruptcy
State is the hero - fuck the tax payers

I don't see any problem with tether. Printing more in higher demand situations is obviously needed.
Not wanting any audit by the IRS? OH NO, must be a scam. Lmao.

TalkBomber
TalkBomber

My word, people not understanding simple economics.

Exchange sells 10k tether for 1 BTC
Exchange instantly sells 1 BTC for $10k
Exchange makes fees on both transactions.

Fin.

WebTool
WebTool

jibrel.network
there is now, and they just had a conference partnering with Unitied Arab Emirates royal family

CouchChiller
CouchChiller

Biggest problem would probably be to get the deals with exchanges
USDT already is in a comfy place at the biggest

Fuzzy_Logic
Fuzzy_Logic

USDT is backed by USD
USD is backed by nothing.

Must be the ultra epic scheme, oh wait that's fiat anyway

happy_sad
happy_sad

There are. You're just a newfag who gets all his information from Veeky Forums

LuckyDusty
LuckyDusty

I hate to say it but because muh luburturian suciulusm but.....gold

Nude_Bikergirl
Nude_Bikergirl

USDT backed by USD
allegedly

iluvmen
iluvmen

Whales are putting up sell walls to keep the price at $1

It will be $3 by tomorrow

Deadlyinx
Deadlyinx

To you and anyone here: Please do not call other 4chaners with newfags, pajeets, shits etc etc..

Because we have no respect between us, other will not have it to. We are all here trying to learn and earn something. If we keep fighting other will use advantage of that.

Firespawn
Firespawn

Stop looking at fiat value, look at sats

BlogWobbles
BlogWobbles

pajeet detected

eGremlin
eGremlin

Are you fucking retarded?

Except IOUs imply they actually owe you, Tether creators will legally just walk away with everyones money. Tether is not even being legally ran in respect to US laws.

Nude_Bikergirl
Nude_Bikergirl

Banks are a scam too, they also don't have all the money in their reserves that they lend out

If every customer of a bank went and withdrew all their money, they'd be fucked

Harmless_Venom
Harmless_Venom

Hold up. So am I the only faggot holding his coins right now. Is that what all yoh pussies are doing? Tether?

Show yourselves. What's your guys plan, buy the dip meme? Tether? Or iron handing. I hope I'm not holding the line alone

massdebater
massdebater

Wow congrats

Are you fucking retarded?

There is no hope for us.

kizzmybutt
kizzmybutt

The bank is insured by the US government which in turn is backed by their ability to levy tax on 300 million people.

Carnalpleasure
Carnalpleasure

It's like fiat then...

Snarelure
Snarelure

Thats why we created crypto, we have the numbers to back it up
Now they are just inserting retarded concepts into it on purpose
And anyone tethering their money instead of just cashing out is probably only doing that because they have to pay a ridiculous amount of tax if they cash out

Crazy_Nice
Crazy_Nice

You fucking pussy consolidating to tether, God one day it will just you I hope, one day

Booteefool
Booteefool

How it is backed then if money doesn't exist? Exchanges are not that stupid, right?

I don't know if your a newfag or a retard or just trolling but you deserve to have all your money taken by smarter people

idontknow
idontknow

Tether is scam like Tron, like MT GOX and it will crash and destroy the markets down further

WebTool
WebTool

tell me why BCC is a scam, all i hear is the exact same FUD

AwesomeTucker
AwesomeTucker

except they make more money charging fees

Evil_kitten
Evil_kitten

who cares they can just print usd if some are missing.

Stupidasole
Stupidasole

I can probably be your father.

And you are what? Some kind of smart boy? Maybe genius. No, you are just plain stupid as your comments.

SniperWish
SniperWish

BCC gave you 100000% yearly roi
Tether gives you literally nothing

WebTool
WebTool

it promises a guaranteed 0% roi
which they can't because it it was totally transparent and honest they would admit they don't have the fiat to back it up and that would mean that the roi would drop below 0 at points defeating the purpose of this coint entirely

I swear Tether is gonna fuck us up so hard, which is the most ironic thing ever
Its like keeping your money in a piggybank that spontaneously combusts when u open it

Stupidasole
Stupidasole

Then the crypto is dead anyway

JunkTop
JunkTop

the way they keep it at 1$ is kraken allows wash trading so there is bots on kraken every second of everyday wash trading keeping the price pegged at 1$
huge scam just wait for it to blow up and take bitcoin with it

also check out twitter.com/Bitfinexed
he has been saying this allalong and he is right

girlDog
girlDog

tether has been inflating the price of all coins by using bitfinex they print tether then send it to bitfinex to pump the price with fake money

LuckyDusty
LuckyDusty

twitter.com/Bitfinexed/status/953398351889944576

twitter.com/Bitfinexed/status/953253089301188608

twitter.com/Bitfinexed/status/953014563280125952

twitter.com/Bitfinexed/status/952625671125307392
twitter.com/Bitfinexed/status/951947394391961600

Spazyfool
Spazyfool

What exactly do you mean by they are printing Tether?

LuckyDusty
LuckyDusty

twitter.com/Bitfinexed/status/952616609230794755

Fried_Sushi
Fried_Sushi

they literally just make tether out of thin air

Boy_vs_Girl
Boy_vs_Girl

What company is running TETHER ?

lostmypassword
lostmypassword

I hate to have to explain it and that Tether will pose a giant risk to the crypto space
Tether is backed by USD 1:1, so whenever they don't have enought tethers to sell to the people converting to it, they print more of it.

Altho this only happens during dips and crashes. When the crash is over and everybody wants to convert back into the corresponding amount of coin, they are gonna run into the problem of not having enough fiat.

The Tether company supposedly has enough fiat to back every USDT with a USD but that has never been proven as their company isn't audited and in Panama.
This is it lads, we officially flew to close to the sun with this one

Methshot
Methshot

TETHER IS BITFINEX lookinto it

medium.com/@untetheredbtc/how-the-tether-usdt-distribution-system-works-84a5c673bec0

go down the rabbit hole if you dare

BlogWobbles
BlogWobbles

...

Flameblow
Flameblow

if tether is run by bitfinex, we are all fucked arent we...

cum2soon
cum2soon

Thank you good user

w8t4u
w8t4u

yep its going to be a sight to see when it all blows up

its only a matter of time....

Garbage Can Lid
Garbage Can Lid

Fuck this im getting out.. should i wait for one more good bump or just take my 40% losses ?

Crazy_Nice
Crazy_Nice

What are fee earning?

Think they would ever run out of USD. Tether is a legit gold mine and they get rich by fees alone.

DeathDog
DeathDog

When the crash is over and everybody wants to convert back into the corresponding amount of coin, they are gonna run into the problem of not having enough fiat.
This is so fucking retarded it's untrue.
What do you suppose they do with the crypto that people are buying the tether with?
Would like like me to explain?
They are converting it into USD, so that they have a 1:1 ratio of Tether to USD, it's not fucking rocket science...

SomethingNew
SomethingNew

the ting is you cant buy ther with fiat do you honestly belive that people are buying billions of tethers?

Firespawn
Firespawn

old bitfinex docs

Fuzzy_Logic
Fuzzy_Logic

?

Illusionz
Illusionz

also tether dosent even have a bank btw how can you pay fiat for tethers with no bank?

massdebater
massdebater

They are selling crypto to the dollar ffs.

You buy 1000k USDT with 1BTC
Bitfinex sells that BTC for £1000 to keep the ratio of $ to USDT, so that they can sell them back and not make a loss.
They are hardly likely to keep a declining asset as that would cripple them as suggested.

SniperWish
SniperWish

Don't think anyone can help you on this boards. Sorry sirs, go ahead sirs. thanks sirs.

RavySnake
RavySnake

$10000 sorry typo.

BlogWobbles
BlogWobbles

If you think every time Tether prints 100 million dollars there is actually 100 million US dollars backing to it, then you simply might be a retard.

It literally says this is monopoly money and we are not responsible for anything in the terms. I think they are not even obliged to pay you in USD for the tethers.

Lunatick
Lunatick

hah you can believe that but they dont even have a bank that supports them

medium.com/@untetheredbtc/how-the-tether-usdt-distribution-system-works-84a5c673bec0

holy fuck i cant wait for this ponzi to crash exactly

likme
likme

Jesus Christ, they dont need to print anything, they just need to ensure they sell the crypto to USD at the same time they you trade it to them for USDT.

It's a simple process, they are not stocking anything, except USD.

RavySnake
RavySnake

So when did TETHER become a thing in the crypto world ? long time now i assume ?

idontknow
idontknow

Nigger do you think some anonymous startup that's banned from US financial markets has 3 billion liquid FIAT in some shitty Hong Kong bank account? Either that or they are just making up numbers for the gullible idiots on the internet. Which one is more likely?

likme
likme

Stop it. Tether is the most FUDded crypto thing for months and hopefully it stays like that. Don't try to convience people who literally got no clue about the basic 101 economy.

SniperWish
SniperWish

Beginning of this year when BTC started soaring from 800.

askme
askme

People just not understanding they are converting the crypto to USD is the crux of my point here.
They stock no crypto that people are converting to USDT, or do you suppose they are?

massdebater
massdebater

reading through this thread reminds me of how retarded most of Veeky Forums is

BlogWobbles
BlogWobbles

i think tether was legit until they lost banking thats when they started having to print more tethers

Stark_Naked
Stark_Naked

You have to print more Tether when the mcap goes higher and the overall demand for tether growths? Oh fuck. Rocket science in the chart.

5mileys
5mileys

ya but what are nukes backed by?

takes2long
takes2long

Wow another smarty boy.

Im wondering how with so many smart anons nobody saw or warn that
there is a crash around corner?

w8t4u
w8t4u

didnt bitfinex get hacked for like 100 million tether or something like that ?

whereismyname
whereismyname

yep 30 million tether "stolen" i think that was before they stopped caring about looking fishy af

Firespawn
Firespawn

i bought BTC at $200, i don't really care about crashes. it's a long term hold.

Poker_Star
Poker_Star

well this is going to be
MtGOX all over again no point beating a dead horse everyone knows tether is a scam anyways

willybot and MtGOX was printing fake money >on their exchange to buy bitcoins.
now Bitfinex is doing the same fucking thing.

/thread

Emberburn
Emberburn

USD is backed by the most powerful army in the world.
That's the only reason it's still alive.

RumChicken
RumChicken

and a few people that make a fair amount of money and must pay their taxes in USD or face being jailed

TechHater
TechHater

why the fuck did exchanges let usdt be a thing ? its sounds like we found our trojan horse that will kill crypto as we know it

BinaryMan
BinaryMan

i put only 800 dollars into Tether last year, just held on to it and now I am at almost 24k. Sold off half of it to buy a used car. idk why anyone would buy bitcoin, its so unstable, Tether is the way.

TurtleCat
TurtleCat

I must be stupid, but how you got to 24k? You should stay at 800, right?

LuckyDusty
LuckyDusty

if tether is 1:1 how did it 300x

Inmate
Inmate

it helps keep money locked into the ecosystem

RumChicken
RumChicken

well memed
well memed ineed sir

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