8 hours ago they printed (another) $100M

>you can only buy bitcoin with tether

oh wait

Lol u biztards. Lets turn a blind eye to fraud and some shit that will fuck crypto up if it ever fails.

>there was no reason to print this garbage in the first place
>what is arbitrage
Good luck moving USD between exchanges

It's the difference between economics and neets in a giant pyramid scheme.

The whole market only exists because nobody has thought to look into the lies at the heart of it.

MT GOX was the shot across the bow. When they go for Tether it'll be straight at the magazine and all that will be left is splintered wood and limbs everywhere.

If you actually give a shit about the tech you'll hate what the market has become, even if you're getting fat rich off it.

LUL you can just buy LTC and send it on another exchange, problem?

ETH will be our savior

I thought the flippening would happen but when bitcoin tanked so did ether. Bitcoin dominance means nothing apparently because even when its low it drags everything down with it.

USDT to the moon!

Lel, brainlet. You want to arbitrage BTC/USD and introduce LTC/BTC when there's something better, tether. Fucking retard.

Pretty sure the tether are being printed because people are selling.

Not because people are pumping bitcoin

you are all overreacting, tether is fine, 1:1 USD backed and regularly audited

stop being autists, this tether FUD has existed since its inception, and the currency has been around the whole time. I'm not worried at all.

its not audited, tard

They literally refused an audit.

>tethers
>backed
>regularly audited
(:

They won't even state what banks gave them a trillion dollars

These tether scammers are obviously not going to be audited or arrested now, they should just outright print 1 billion tethers as a big fuck you to all their haters, no need for all this pretending

How do people not get it?

>Tether's utility is that it is pegged to $1 USD.
>Exchanges have demand for it to keep customers on the exchanges and ultimately paying fees instead of going into fiat
>Tether is issued when there is demand from exchanges

They don't randomly issue $100 million in tether. The exchanges demanded about that much as people were buying into tether to ride out the crash with a pegged asset.

Their reserves? Every USDT is sold for ~1$ to exchanges.

Why would they need banks to give them reserve capital when exchanges will buy USDT to keep customers on their exchanges?

?????

instead of tether, just use VEN tether.

you can't spend tether you dumb fuck.

you pay $1 usd for 1 tether and then you sell it for $1 usd.

its a placeholder. lemme guess you have a load of money and want market to crash so bad so you can get richer. Yes? Same old bear FUD. Can't even be intellectually honest.

a currency is defined by its users dumbass

if tether is used as a currency and people believe its a currency then its a currency backing is fucking nothing compared to belief

read - Theory of Value by Nick Gogerty

this is bait a coordinated attack on crypto don't reply to the tether fud faggots let the threads 404

Jesus Christ..
There has to be some sort of IQ tests to post on Veeky Forums

Tether is probably going to be involved in the major downfall of Bitcoin, and the start of a major (if not permanent) bear market for cryptos.

>exchange unable to secure banking
>creates fake USD blockchain token
>says fake dollar is worth real dollars because they actually have real dollars too
>refuses audit
>bans all U.S. customers
>buys Bitcoin with fake dollars
>BTC price goes up

Crypto is the future, i just don't want the baby to drown in the poisoned bath water.

It's a sham set up to make a few greedy cunts minted and it needs an enema so we can move forward without seeming like a tinpot joke.

I've got more money than I could spend at this point so what the market does doesn't effect me, I'm in it for the tech, not this Tether cancer and a million pennystock chancers.

there is you failed faggot

maybe i should switch from tether to nubits
did you knwo about nubits? well now you do
it can fill the same role as tether, albeit not as precisely. nubits are more or less worth the same as a usd, without having to be backed by us dollars. look into it. only on shittrex though so... meh

you're a larping faggot fuck off

JNT/Jcash will replace tether. Jcash actually is backed by real world assets. The royal family of dubai is funding this shit. Binance is on board. I'm not worried.

Reasearch the Jibrel Network and when JNT hits exchanges, buy that shit up because it will make you a fortune

why dont they print tethers continuously? imagine how high bitcoin would go, jesus. bitfinex would make so much money and so would we. its a win win

Dear FUD

Please respond

You know what the biggest red flag is? You can't even talk about the Tether/Bitfenix operation without half the thread getting enraged and screaming FUD with no argument or backing. They don't want to hear it because they know deep down what's going on and want to ride it as long as possible.

I mean, that's fair enough, you're just playing the game. But that doesn't make it any less of a red flag.

...how will it replace Tether if it does a moonshot instead of staying at the same price?

This episode will be in economic and finance texbooks really fucking soon. Like Soros and his currency attacks on nations with fixed exchanged rates

JNT is the token. Jcash is the Tether equiv. I think that you have to burn JNT to convert to Jcash but I dunno for sure.

JNT will be used to purchase JUSD. It will be a deflationary token that will increase in value over time. Difference is this will actually be backed by real world assets as opposed to tether which is backed by shit.

Literal brainlet

>Audited

In what coin do I hide in when tether pops?

99% of shitcoins out there have no actual product backing them up
how is this different?
Everything is just a big fat ponzi

nubits
i keep telling people but they wont listen i dunno why

Because they claimed this: 1USD = 1 USDT which is not true

maybe theres something wrong with nubits i dont understand? nobody ever responds when i mention nubits.

tether is essentially fiat currency

its ironic that its propping up cryptos

The collapse of tether could be more detrimental to fiat

How so?

Exchanges buy USDT for 1 USD
It is a utility for their customers

?????

pls respond

Is this the new troll? How can you be so fucking stupid? When tether falls you are going to shit yourself. Even if you don't own tether, you will get burned.

It's really worrying dude. I'm almost tempted to call this shit quits and get out while i can

Centralized stablecoins don't work, anons. There is another. Get in now.

Because any retard dumb enough to trade United States backed USD for chink/slav monopoly USDT deserves to get to lose it all.

well what is it? fuck you nvr mind not interested

wow great analysis you stuttering pothead

Great comeback child

Several red flags

1.They have no evidence to back that up.
2.You can't redeem your USDT for USD.
3. They have yet to get audited and they stated they were planning to get audited last September. Nothing yet.

So all exchanges are pumping bitcoin instead of just bitfinex. Much better. You actually solved the biggest scam of crypto. All exchanges were working together and pumped btc to 20k with tether they bought and sold at the top. Bravo user

reddit.com/r/CryptoCurrency/comments/7rf3aw/tether_information_statistics_and_analysis/

Too much effort to copypaste all the links separately, go to the above link if you want them. There are a lot of links. Comment too long.

Recent Events
Unless specified otherwise, all numbers refer to Omni issuances.
100 million USDT (omni) issued today
4 days in row, 15th-18th, of 100 million USDT issued per day.
550 million for the month.
800 million in the last 30 days.
All USDT is initially sent to Bitfinex.
Issuing Address -> Tether Treasury -> Bitfinex -> Various exchanges.
Mostly seems to be currently flowing to Binance and Huobi, though there also considerable amounts going to other non-Western exchanges.
Two unknown addresses received about 35 million USDT each in the last couple days, making them currently #7 and #8 on the Rich List.
The amount of USDT held by western exchanges has either greatly decreased or remained about the same.
One of Poloniex's two known tether addresses has recently, between Jan 13th-Jan 18th, been almost entirely drained and sent elsewhere.

Expect more USDT to be issued when Bitfinex's USDT account balance becomes depleted or Bitcoin drops too low, whichever comes first.
Its balance is down from the 100 million sent this morning Jan 18th, US time, to 883,490 now and quickly dropping. May have another issuance soon to replenish their supply.

Tether Ownership
Based on currently known information
Tether's provided listing of address owners and their amounts.
63% of USDT held by 4 addresses.
75% of USDT held by 10 addresses.
82% of USDT held by 32 addresses.

Tether Totals
28% of all USDT issued in Jan 2018.
1.95 billion USDT (omni)
30.1 million USDT (ethereum)
14.6 million EURT (ethereum)

Tether Info Spreadsheet

Addresses to Text
To better track where everything is going on the omni explorer site.
Userscript used
Data to paste in the userscript
Example image of what it looks like afterwards:

What exchanges trade usdt for usd tho? Don't you have to use btc on most of them?

kraken

I agree, tether failing would have.. unintended and unavoidable problems for the Fiat shekels. We're in a black swan moment, I'm going to lie about how much I risked when I'm discussing this in 20-50 years.

I think it's best we just accept this and move on and back to discussing shit coins.

CAN SOMEONE PLEASE EXPLAIN HOW TETHER IS PROPPING UP THE VALUE OF BTC

PLEASE
IT DOESN'T MAKE SENSE
AND DON'T COME AT ME WITH FANCY TECHNICAL TERMS LIKE WASH TRADING.
EXPLAIN!

>2.You can't redeem your USDT for USD.

Sure they can! Exchanges sell tether to people like you and me all the time.

I can't argue the other points desu

It keeps me from paying hundreds of dollars in transfer fees to put my shit in USD if I want to wait out the market crash, which I did, and I saved stacks.

Tether is a great utility tool, it's just not a crypto meant to be invested in. It never was.

WHEN tether is issued traders buy it by selling BTC
now the issuer of tether has BTC! they sell that BTC for FIAT! ERGO backing up the TETHER WITH USD!!!!!!

dat's all folks

it slows velocity during runs (money stays on exchanges) and does nothing during bulls(money goes from usdt to pairs) so btc is propped up

What in the actual fuck? Do you think "cryptos" are just a Veeky Forums meme? There is no permanent bear market for tech (tokenized value creation) that is changing tech landscape left and right. A crash to kill bitcoin? Sure, well deserved. But from that onwards, it's going to just explode again. Be ready. It all happens fast in this space. Next couple of years will define your retirement funds. You're already at an advantage since you know HOW TO buy and dyor (except you, of course, who think all cryptos are memes).

in reality, exchanges buy USDT and sell it, not the issuers

Redeem != Trading on exchange

ARE AUDITS NECESSARY. i would love to see monthly/quarterly audits by independent third parties.

And when there is a major market crash and people try to redeem tether for fiat, and Tether says "Actually we don't actually owe you anything" then Tether becomes instantly worthless.

so exchanges buy it with what exactly? BTC? FIAT?

How would you have $100s in transfer fees?

that I don't know, its up to the exchange and the issuer

that's because you can buy BTC with it and then sell BTC!
you'd just be buying and selling a higher volume of BTC

Tether won't precipitate the crash. the crash would be onset by regulatory bullshit

Or a run on tether

Bittrex allows direct deposits of USD in exchange for USDT, but it's now a minimum of $100,000 up from $10,000.

Fuck bittrex

Posted this in the other thread:

I am not sure about all of this tether fud:

2 possible scenarios:

1. Exchanges work together:
Binance mails Finex and says; guys, we just got deposited another 50 mil in total. Print us 50 mil tether and we owe you 50 mil USD (maybe they transfer the money, maybe its just a lending-contract)

2. Overall, its 1,7 bil USDT (or USD). Isnt it possible, that all of the exchanges have been deposited 1,7 bil USD since the creation of tether (or only Finex got deposited that amout of USD)? Its not that much money considering the global market of crypto.

Maybe both scenarios even work together. Maybe Finex has been deposited 2 bil USD already and they just bring tether slowly into the system, exactly to not blow this whole thing completely up?

the fudders just ignore the legit posts lol

How do the other exchanges get their fiat?

Interesting this was only downvoted after being linked here.

true, you cant even deposit fiat into binance.
makes my theory even easier to be true and more plausible.

How are exchanges getting fiat to pay for the tether?

when you buy BTC. you give the exchange FIAT
and when someone sells BTC their bank account get's debited and the seller gets credited
as long as exchanges are not up some shady shit like speculating with those deposits there shouldn't be a liquidity crisis that would render these exchanges insolvent

How so?
Your theory requires them paying in fiat, which doesn't explain how they get the fiat.

THEY SELL BTC to other exchanges.

>when you buy BTC. you give the exchange FIAT
What about exchanges that don't have fiat pairs or allow fiat deposits? How are they getting fiat?

Don't worry, the market will see a crash unlike any other they have seen before come February.

I predict only a handful of coins are going to make it out (less than 10). And those one's that prevail will go on to become the Google, Amazon, Ebays, Netflix, etc of the cryptoworld.

when you transfer your BTC to an exchange and trade it for shitcoins the exchange rakes a commission in BTC. they sell those BTCs to exchanges that have FIAT

So the exchanges are selling their crypto, driving down the prices on fiat exchanges, so they can buy tether.

>if it ever fails
when it fails

It will crash the market, but it's 'only' $2 billion dollars. The rest of the market will dump more than that, but don't expect what happened with the $300 billion selloff. Crypto doesn't need tether to survive.