If you look at this and think everything is OK, the only thing I can say is you deserve everything you're going to get

i would argue that bitcoin would rise in price. but you can do whatever you want

have you considered that maybe you don't understand how tether works and why there is a demand for it and why exchanges would buy it?

establishment no coiner wage cucks sitting around in their shit stained underwear madly jealous that a bunch of neets can trade on their own and make bank, let the tether fud threads 404

First it will moon harder than we've ever seen, as people panic to get out of tether for any price possible

Jesus you're beyond help

Oh well! It's only a matter of time before I have a hearty laugh on my fat stacks (which I'll still have even if im dead wrong) and you neck yourself

great answer

you addressed the points
you argued your case

you're a hero my dude

Wait wait wait, all this tether crap gets me flip flopping crazy. So, tether crashes and the market crashes with it, we go bear for a year and le rebuild. Alternatively cash out now and stand on the sidelines as the towers crumble fight club style? Which one fucking is it? I know I, personally, can (afford to) hold through a year.

I am in tether right now but yeah.
This shit is fucked no matter how I think about it. Maybe its just new and we are being a bunch of neoluddites.

"Get with the future man!"

It shouldn't even fucking be legal LOLOLOL

Retards don't deserve actual discussion

People denying that Tether will crash the cryptomarket are all most likely teenagers that can't fathom the idea of a crash. even though it's happened before.
It's not a question of if but when and WHEN it does, BTC will sink like a stone.

>all most likely teenagers that can't fathom the idea of a crash

The fuck you think this is right now?

ok you annoying doomsaying faggots please explain to me why Tether Limited would want to keep printing Tether to prop up YOUR investments? what incentive do they have to risk a catastrophic fraud scheme failure and international investigation just to make sure your tokens don't have a crash? Bitfinex makes money in bull markets and bear markets- they don't give a fuck propping the price of anything. until one of you retards provides ONE reason why Tether Limited would risk jail time or death from a hit just to prop up YOUR investments this is all just rampant and irresponsible tin foil conspiracy bullshit

that this is what people resort to whenever anyone tries to talk about tether is a massive red flag.

what is stopping whoever is controlling/printing tether to trade for your btc, sell the btc for fiat in whatever country they can get away with it, and just print more fucking tether, they are printing money, who is making sure real fiat is deposited for every tether printed, the government? what government if crypto can be issued/used in any country? they could destroy the whole market.

I get the use case, its a great tool for shorting during crashes, but this is only assuming that the creators are not crooks, if i was in control of tether, I would steal every btc for fiat I possibly could, I fucking doubt there are not others who would do the same.

The FUD is very justified, this could be happening. Or they could be crypto angels, and not stealing shit, who knows

>bitfinex gets a government audit
>they find out tether is a complete scam, they've been printing that shit for years
>everyone rushes to sell their carwash tokens via the only gateway possible, other crypto
>massive bullmarket
>MSM reports on the bullmarket instead of the tether fraud
>buy tether at 0.001 cents
>it rebounds to 10 cents (look at bitconnect)
>become filthy rich and everyone forgets about the tether thing within a week

i could actually see this happening

Fucking kek screencapped.

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??

>why would the leading token issuer and trading hub not want its market to crash?

you honestly asking that?

listen to yourself, look at how you write. so much anger and nervousness.

it's one thing to ride a rotten situation for profit, it's another to buy into it entirely and make excuses for it.

answer the question faggot. what incentive does Tether Limited have to prop up your coins?

can someone please explain to a brainlet how tether is gonna crash btc down to 2 cents or whatever the geniuses are saying?

There's not enough incentive for them to risk their entire business and reputation just to prop a market. Exchanges still make tons of money in sideways and bear markets.

it's not about propping up "your coins" it's about them being able to literally print money and buy using these same printed tokens from people selling btc > tether during dips. It's obviously in the exchange's interest to do this repeatedly to accumulate greater and greater amounts of btc

it is happening. this is why they have refused audits. when you look into the founders and connections with bitfinex, the trouble with wells fargo, these people are not out to provide a service. they're out to make money any way they can. they found the perfect unregulated market and they don't care if they destroy it.

Tether's not worth $1.

>b-but I can trade it for $1's worth of Bitcoin!
Bitcoin's not worth anything, either.

Hope this helps!

Just bought 100k thanks

Tether will easily do 5-8x this year

Get in now or stay poor faggots.

I don't Understand wouldn't the crash of tether increase the value of crypto? it would make it that much more scarce (at least until fairX comes out). People don't understand that china / korea / Europe has way to much invest in crypto for this to fail. yea tether could go down, so what? you can't short BTC or ETH as efficiently anymore?

btc will never crash that low because if it does ill be buying millions. And with only 21 million in existence there would only have to be a few people like me in the entire world until every coin is bought

Thanks just bought 21 million

Ok but a portion of tether's reserve is held in bitcoins. During a dip bitcoin loses a substantial portion of it's value. Tether is still tied to 1 USD but a significant portion of the money backing tether has just disappeared. Normally more tether is printed which pumps the price of bitcoin thus pumping tethers liquid reserve. Pretty soon the big dip will come and new tether won't have any effect on the falling price of bitcoin. This kills the tether.

ok thank you. i've read over and over that they are printing to prevent a crash which is moronic to me. so let's flesh this idea out. allegedly Tether Limited prints new tethers that are not backed by USD. they send the new tethers to exchanges in exchange for what? help me walk through this alleged fraud scheme

Tether is sold to other exchanges for USD in order to eliminate arbitrage opportunities for people during market swings downwards. So that people can keep their money on exchanges rather than constantly trading and transfering fiat pairings.
All or most of the margin lending on Bitfinex and other exchanges is also done through Tether. This means that all of the futures contracts on exchanges also go to zero if tether valuation plummets since they are getting paid in useless tether instead of USD. This is even worse because this process is largely done with loaned money and thus represents a lot bigger volume in "USD" that is lost.

so you just said Tether is sold to exchanges for USD? so how is it not backed by USD then?

The only way for an exchange to get tether is either A. The exchange buys it directly with god knows what currency (emphasizing that these buys are vehind closed doors and may be conducted with usd, btc, or any other currency) and uses bots to distribute or B. Customers transfer in. Exchanges also use fractional reserves for tether as the numbers don't add up.

Why the fuck do people eat this garbage? FOR EVERYONE WHO SELLS FOR TETHER THERE HAS TO BE A BUYER. How are people so fucking stupid?

you literally said in your earlier post that "Tether is sold to other exchanges for USD"
at this point, i feel like you are confusing yourself and me more than illuminating the issue. let's start over if you want at the point where Tethers are being fraudulently printed. what happens next?

When I say that tether is sold to other exchanges for usd, that does not mean that it is backed by usd. The reason for this is that bitfinex who create tether, a profit-driven company with a track record of zero transparency has been given the power to essentially print their own money that is being sold for crypto and usd. So although they can sell it to other buyers/exchanges at an even fiat rate, they have access to an essentially unlimited supply pool.
This is coupled with the fact that they have an incentive to artificially inflate prices, and the fact that they are not subject to government oversight like normal banks.

The whole market is at risk if they make one mistake and don't have the reserves on hand to handle a crash. If the USD value of tether goes to zero, the entire market will crash. The marketcap of Crypto is 700 billion, but market cap is extremely misleading in a market with low volume like crypto. The actual amount of capital in USD invested in crypto is closer to ~10 billion. If the value of tether crashes, everyone loses a lot of money.
The saving grace will be more established fiat gateways a la coinbase fairx cropping up in the future. Stablecoins are not viable unless regulated: some reading material here:
prestonbyrne.com/2018/01/11/epicaricacy/

why do they have an incentive to artificially inflate prices? this is the same dumb argument that i thought we debunked earlier about propping up the market. exchanges make so much in fees in bull markets AND bear markets why would they risk losing their business and jail time to inflate prices?

look, even if they did want to inflate crypto markets because they held BTC and other cryptos. if anyone caught on to their alleged fraud it would tank the value of their holdings.

none of these fraud accusations make any fucking sense.

Anybody wanna help end Tether?

Do you have any insider crypto information? Something shady going on in the world that you know and want to share?

thecryptowiki.org/Crypto_Confessions

Post your confessions here for the crypto world to see.

Can someone tell me if my summary is correct or not?

> So Tether is basically just printing worthless money or they are printing tether with actually money but they can't really keep that much money in cash anywhere. So they are buying BTC with that cash. Fair enough.
> Let's say BTC drops by 50%. That means their cash becomes half as well effectively even though tether amount remains same.
> So now that BTC is dropping, I decide to sell it to USDT and then after a week maybe back to USD to my bank.
>If tons of people start doing this, Tether doesn't have that much cash. So some shit is gonna happen then right?

>Or another scenario is tether is corrupt(which they are).
>Now, some govt decides to audit them forcefully, and finds out they are bs.
>the media claims tether is a scam.
>people once again try to get their USD back and same shit happens.

I think in this scenario, the crypto market drops not only because of the fake tether(not backed by any money) but also because most normies will lose faithin crypto for a long fucking time.

No more incoming money, so no more bull run for a long time.

This is what I understood from this thread. Feel free to correct me.

they will fail in the end though, they're the delusional ones, they think fear on some board will have an effect anywhere close to what tether going under would have. of course the fear is legit, they are just bad, emotional investors. when BTC was 16k people called me fudding for saying the crash wasn't over, even if i was fudding it was sound advice.

>GREEN ID "CASH"
HOLY

but they can't cover everyone in tether because they've been buying bitcoin since it was 20k. they lost a bunch of money, if everyone cashed out they'd go broke, it's similar to a ponzi scheme, it's unsustainable. it's only hiding BTC true value, which should be like 5k right now, but when tether goes down it will cause an even bigger crash because none of the people with tether can buy BTC again, which will drive the value even lower than 5k. it could send BTC into triple digits.

your post is low quality shit tier FUD because it has no logical explanation or evidence of anything. fuck off

Whats stopping them from adding another zero to it and making it a billion Tethers printed or 100 billion...would that not crash the Tether and strand everyone holding Tethers making them worthless. What if they were accidentally created...can they unmake or burn Tethers?

Reminder - there is one dollar on account for every Tether issued. Their reserves are regularly audited. There is literally nothing to worry about.

but that mean's they're losing money, unless bitcoin goes up out of nowhere, which won't happen because were in a downward trend with and all the media attention is negative scaring normies.

Read this article anons, very interesting read and relevant to the current situation
investopedia.com/news/bots-drove-bitcoins-150to1000-rise-2013-paper/

Basically, what they're saying is that BTC's pump to $1000 back in 2013 was due to fake money being injected by Mt. Gox. What happened when they were unable to continue pumping BTC and people started to cash out?
Mt Gox exit scammed ("hacked")

The exact same thing is happening now, BTC being pumped by fake money. These last 500 million tethers seem like a desperate attempt to get BTC pumping again.

People will say that Bitfinex makes a ton with trading fees alone. But so did Mt Gox back in the day and look at the shit that they did. Greedy fucks exist.

this is some dumb shit user

What the fuck are you talking about? Tether has bank accounts holding one dollar for every tether issued, which has been independently audited by a third party, verifying that it exists. If they needed to pay out a dollar every single tether tomorrow, they could.

reddit.com/r/BitcoinMarkets/comments/6y9an9/tether_publicly_releases_prior_audit_info/

Read the comments you faggot

>Haha! The good ol' trick of only showing one side of the balance sheet.

Honestly I'm neutral now highly skeptical (edit) on the Tether situation, without information about the liabilities of the company this does not prove anything about the actual backing of the token.

>Mt Gox exit scammed ("hacked")
Tether got "hacked" for 30 million in december

Can someone point out what the real problem is with tether? I don’t have any of my funds in it personally but isn’t the purpose of it to just be a coin that everyone agrees is always at a $1, thus making it a good place to store your money in a crash? Obviously it’s not backed up by anything because it’s not even run out of the US but so long as people agree on it representing 1 usd that should be good enough right?

miss i have to say u r very beautiful very nice hair n skin love from india

you late adopters all realize if tether wanted to fake dollars they would just change a number on one of their own bitfinex accounts, right?

you cant be stupid enough to think they would choose instead to go about it in the most publicly obvious way?

surely you're all not this stupid?

Before the phoenix is reborn, it must first die.

it's not fine if they can print as many of them as they want, without being held accountable to anything. it's not fine if they can use fake money to wash trade whenever bitcoin pumps. it's not fine because when people finally do catch on and the value of tether plummets, the price of other cryptos will be so artificially inflated that the market will burn in hell for months, maybe years.

probably not. that would be cooking the books, which is illegal. but issuing a crypto-currency? not regulated. they can issue as many as they damn well please.

What is supply and demand?

Mt Gox accounted for over 80% of the global volume. Youre a dumb fuck.

>it's not fine if they can use fake money to wash trade whenever bitcoin pumps
proof they are doing this? because if they were wash trading on bitfinex in the usdt/btc pair with all the tether they issue, the volume would be in the BILLIONS not barely touching one billion

see bitfinixed videos of wash trading occurring just after printing tether. obviously they don't do it all at once. it doesn't take much.

WSJ says the CFTC is about to arrest someone... archive.is/Gyxao

Tether is literally 0.2% of the market cap. If tether comes down the whole market will collapse

>bitfinixed
The guy who sold his entire stack of btc at $1000 because "it happened with mtgox its gonna happen again right muh psychological barriers and shit"?
The guy who was begging bitfinex for months to refund his bitcoin once he realized 1k would never ever be seen again?
The guy who has been crying on twitter every single day, spreading fud, purely because bitfinex told him "fuck off you arent getting shit back"?
The guy who is being SUED by bitfinex?