450m USDT created out of thin air in the past week

You don't know it's thin air

If they actually do buy back at low levels (which is when they print), and sell the BTC for fiat on better levels, they should have more than enough to cover their printing

The ugly side is that when they buy, they push the price up. Tether is basically just a huge whale

it's not a crypto

>Tether is basically just a huge whale
Aka spoofy. Dont get me wrong this definitely is fraud but the million dollar question is, is it sustainable?

Will they have enough fiat to back it up when an audit comes?

You cant redeem tethers retard.

this.
if you could cash out USDT into actual fiat USD, we'd have one hell of a clusterfuck kek

As long as no nation state get's mad that Bitfinex made themselves a central bank, why not

Why does tether need to be backed by anything? As long as you can't create "counterfeit" tether, it is a legitimate tally for US dollars.

MODS PLEASE BAN THESE ANNOYING TETHER POSTS HOLY SHIT

YOU FAGGOTS GET DEBUNKED EVERY THREAD

lol
no

...

Tether is quite literally the same as storing "money" in a stock broker when not investing in stocks. It isn't real until you actuall cash out, which in this case involves tether -> btc -> fiat

Tether literally gets its value from pretending to be the dollar.

Going over $1 defeats the purpose of this coin

If you have a brain you'd realize this

The absolute state of the media.

cnbc.com/2018/01/16/cryptocurrency-sell-off-tether-faring-better-than-rest.html

I never claimed you could redeem tether, retard

Have you actually tried, retard?

They are printing 100m daily. Soon they will be printing 1B daily.

Its going to surpass bitcoin.

nice selfie OP

People don't understand simple supply and demand
This board is a joke
Let's not have any more tether printed... it will be worth $2 sooner rather than later
Dumb fucks

Money is 100% about trust.
Do you trust Bitfinex as much as you trust the US federal reserve?

Tether is awesome because it's the only crypto that people are convinced is only worth $1, and only ever will be worth $1. It's perfect for consolidating gains as long as dumb normans keep seeing it as crypto dollars.

The amount of hey hey heeeeeeeeeeeeeeeeeeeeey bitconeeeeeeeeeeeeeeeeeeee vibes in here are getting absurd.

...

I trust bitfinex more than the federal reserve, yes
I trust the junkie in the gutter more than the fucking federal reserve

I trust Bitfinex more. Who the fuck would trust the US federal reserve.

>BTC is a store of value, fuck fiat!
*market crashes*
>Tether is a store of value, exit all crypto markets

The absolute state of buttcoiners in the current year.
t. moderator of r/Buttcoin

So basically, you buy tethers from Tether. Each one is $1 USD. ALLEGEDLY you can convert $1 USDT back into $1 USD, but this has never been done before. ADDITIONALLY, their Terms of Service indicate that they are under no obligation to ever give you real money for your USDT's. They claim that this clause is there to protect them in cases of money laundering and whatnot, but the reality of the situation is that their ToS gives them the explicit right to deny you the ability to convert USDT into USD. Given that literally nobody has ever been able to get USD's from USDT's, it's strongly suspected that they have no intention of ever giving real money to anyone who buys into Tether.

this guy gets it lmao
why would you tether up if you believe bitcoin is a store of value

Because the fee for turning btc into tether is cheaper than converting to fiat

Tether is going to pull a bitconeeeeeeeee anytime

its a ticking time bomb, its devoid of any value and even devoid of memes. At least BCC had that going for it.

I dont understand these threads in times like this
its like you want to scare people not to secure their investment while btc is going down

The Tethering is going to make what happened this week look like a fuckin dimple, we could honestly see bitcoin sub 1k. People can't see how cancerous USDT is because they are so used to the idea of centralized banking as a whole. If there is ONE THING that will kill crypto it's tether. If you're one of the people who thinks this is "using the banks tactics against them", think about what you are really saying. You are saying "if you can't beat em, join em". You have already given up on crypto. There will be no capitulation here anons, someone will win and someone will lose. Don't let them win again. Fuck USDT.

Y'all have been saying that for the better part of a year now. I'll believe it when I see it.

babbys first systemic risk

Hey, glad you've learned something kids

This is going to be the Lehman of crypto

That's literally what Carlos from New York said lmao. This is going to be apocalyptic. Crypto will be set back literal years.

The whole board has turned into Wassa wassa wassa WASSSAAAAAAAAAAAAAAAAAAAAA

BITFINEEEEEEEEEEEEEEEEE

Whatever, man. This is all a game of chicken, feel free to tap out when you think you've reached the edge. We'll see who's where when it's over. Nice trips.

Your sub is trash

If crypto truly collapsed, it is pretty much assured no one is getting their tether paid out. It's a great tool as long as the market isn't crippled for increasing your buying power but don't become delusional on the state of it.

PRINT MOAR !!!!! WE ARE CRASHING AGAIN!!

confirmed asian whale is name Ho Lee
THANK YOU BASED HO LEE