Could someone explain the tether nonsense to me? I have been involved in cryptos for a while, but mostly on the technical side; I write dapps.
I am an economic newbie and would like to learn more.
Tether
Daniel Young
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Michael Jackson
It's crypto fiat.
Jackson Adams
i would but you posted an image as a .png that should have been a .jpg. just keep reading the memes about it
Levi Peterson
Real Simple.
Without Tether:
Person Sells BTC for FIAT
Price fo BTC goes down
With Tether
Person sells BTC for Tether
Bitfinix sells BTC for USD
Price of BTC goes down
BUT-BU-BUT
If Bitfinix does not sell Tether for USD then Price of BTC remains high
Or If Bitfinix creates Tether out of thin air to purchase BTC, BTC price goes up.
Without an audit, Tether can manipulate the price of BTC.
The market cap is supposed to be in dollars in the crypto market but the truth is part of that cap is really fake tether in the market. So real liquidity, real investment in crypto is lower than it seems.
Evan Fisher
It’s like the federal reserve of crypto
Sebastian Peterson
iphone takes png by default
Kayden Bell
If this is real, the whole crypto world indeed is a big big BIG bubble which can pop anytime soon, never thought this is so super risky investing. fuck man.. not very good news for long-term hodlers
Grayson Thomas
...
Aiden Price
>iphone
I knew you couldn't be trusted
Jackson Ortiz
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