Tether printed another 100 Million USDT

Why is everybody so worked up abuut this coin? Sound a bit paranoid desu.

>It means bitfinex is buying a bunch of BTC
That is exactly the issue. Tether can only be backed by USD if it is bought by USD. They're fucking everything up by using it this way. Can't wait till the next time they're "hacked" and lose millions again too.

terrible

If tether says they're going to get rid of the coin, whats stopping everyone from buying up as much btc / eth / etc? This will only make the price moon when it collapses unless exchanges stop allowing it to be traded.

Its kinda funny how these threads always come up when bitcoin is shacky.
Its like you stupid mongos are trying to make fear so that no ones buys tether and lose on money with bitcoin.

No one would trade crypto for tether if that was the case. Everyone holding tether would be assfucked because Tether isn't actually backed by USD and holders wouldn't be able to cash out.

The pumps which prevent crashes like the one we have will end. The illusion of crypto being liquid will disappear and trigger a bank run. The tether on exhanges will become worthless. This would literally be worse than Gox. The whole price spike of 2017 was a lie. Can you imagine going back to a 20 bil market cap?

no one is holding tether, we just back up gains once bitcoin/eth go down
no one is cashing out with tether, I have yet to find one

Tether doesn't allow you to cash out to USD, because they don't truly have the minted dollars they claim to have in order to keep the price steady.

How much of a fucking newfag are you? The biggest BTC exchange in the world only lets you cash out through USDT. Of course people hold USDT, that's why they keep having to print more during dips, because the demand is too high and price gets decoupled with 1 USD.

Without Tether we would be all the mercy of pani sellers.
I dont see the problem with Tether, you basically guarantee to reinvest into the market

are you serious?
lol

Why even bother at this point?

I only stated facts about USDT. Please, enlighten me with whatever argument you have.

When do you think Tether will finally crash?
I give 4 months.

Tether is the ultimate scam in my opinion. Pretty brilliant desu whoever came up with this

And just coincidentally, they keep coming up with a gorillion dollars to back them all on demand. And those dollars will just sit around somewhere - they can't show them to you though - and all is well.

Got it!

It means people are buying tether (demand increasing) but supply is less so they print more.

Yeah! Exactly! But if you came up with this over a beer, the next morning would you seriously think you could pull it off?

Brainlets.

>what’s loans
user you’re fucking embarrassing

There are no real audits.
So they are just printing it out of nothing and getting money in return?

Thats how money works user, you need to constantly print more to satisfy circulation demands

Yeah, that's the other thing. They claim to have been audited by a third party but conveniently are not able to show proof.

...

Yet each tether must be backed by 1 USD, according to them.

Doesn't matter if they print more only to satisfy demand (which I doubt is the only reason they print them), if each tether issued isn't backed by 1 USD, its fraudulent. I highly doubt that someone bought 400 million tethers these last few days.

I think it's because the public isn't buying, tether is being used to artificially prop up the price, is over extended, and they need those of us sitting in tether to buy or our house of cards will fall. I think tether is desperate and insolvent.

1 bullshit fake dollar of tether probably turns into like 1000 dollars of buying power when it's all margined up through the scam brokers

SEND ANOTHER 100M HOLY MOTHER OF GOD!!!!