Can someone ELI5 tether to me?
Can someone ELI5 tether to me?
Grayson Ward
Aiden Jackson
please leave
Liam Smith
What is there to explain?
They claim it's backed up by USD, but refuse to allow an audit. They terminated any form of business with US customers meaning no US citizen is technically allowed to buy tether.
Whenever Bitcoin starts diving, they print more tether (see past few days) to artifically prop up the prices while they gain liquidity on Bitfinex.
Essentially, Tether is a blessing and a huge vulnerability for the crypto market. They have many times stopped crashes but if they go bust, the crypto market will come raining down.
Parker Collins
Tether USD is acting like a central bank by printing USDT to pump up the cryptocurrency market. If they aren't actually backed by USD then they are worthless. Its unknown if they are backed by USD or not.
Julian Long
Go away please
Ian Sullivan
How can tether affect BTC price if it's entire market cap is only 0.5% of BTC market cap? Makes no sense you guys are conspiracy theory fags
Benjamin Gomez
How does it prop the market? When they flood the market with new tethers is That saying they’re presented as buy orders for bitcoin?
Ayden King
Jesus christ, you don't think a 100 million pump on BTC can drive up the price by atleast 1000?
medium.com
Cameron Ramirez
Every time they print tethers it's added to the total market cap. 100mm tethers is 100mm dollars literally pulled out of thin air and shoved into the cryptomarket. If you can't see why that's an unhealthy practice go invest in fiat lmao
Parker Thomas
please go back to where you came from