Tether

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.

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It's crypto fiat.

i would but you posted an image as a .png that should have been a .jpg. just keep reading the memes about it

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.

It’s like the federal reserve of crypto

iphone takes png by default

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

...

>iphone
I knew you couldn't be trusted

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Just check CMC. More Tether volume is traded in 24 hours than how much is actually circulating.

Let me break this down

>the whole crypto world indeed is a big big BIG bubble
Crypto is a bubble because because are investing based on speculation rather than real usage.
When reality sets in and people realize most of these companies are shit and they bought either internet monopoly money (btc/etc/ltc) or Chuck E. Cheese tokens (ERC20 ICOs), the market ill plumet.

>never thought this is so super risky investing
Well why do you think you are getting 50% gains in a single day?

> long-run hodlers

hodlers and people buying the dip cuz it's on sale will be the ones holding the bags at the end.

today people view their digital coins on their trezors as valuable.
5 years from now people will view their digital coins on their trezsors the same way we view beanie babies.

>Just check CMC. More Tether volume is traded in 24 hours than how much is actually circulating.
I'm an econ skreb. Can you please explain the significance of this.

So either the tether market cap is not accurate or for some reason people are selling insane amounts of tether each day.

True. I'd say the only coins with REAL USE CASES right now are Monero and Factom. Everything else is vaporware

Tether's presence has nothing to do with its market cap. It's used to trade into crypto because it's stable. Without Tether, a lot of the volume on exchanges would be somewhere else.

L M A O

Prove me wrong. Name one crypto company that has a working product, a defined customer base, and is earning consistent quarterly revenues.

QR on factom?

Somebody sells btc for usd
Btc price goes down

Somebody sells btc for usdt
Btc price goes down

Where's the problem, brainlet? The only problem with them printing more is that they increase the tether market cap.

You're in this out of greed, not because you understand the tech and its uses. If you did, you wouldn't be touching those shitcoins. If you don't understand the tech you'll not have the balls to play the long hold game, the one that's always paid off the most.

factom.com/

>Somebody sells btc for usdt
>Btc price goes down

btc relative to tether, not to dollar. But because tether is pegged to dollar, people selling btc for tether don't influence the exchange rate, only people that cash out btc to dollar would change the exchange rate.

>You're in this out of greed, not because you understand the tech and its uses. If you did, you wouldn't be touching those shitcoins. If you don't understand the tech you'll not have the balls to play the long hold game, the one that's always paid off the most.


that's why I only mine.

Tether is pegged to usd, so doesn't that reflect in btc usd price the same way? The only difference is that the market cap remains in crypto and tether instead of going out.

>Tether is pegged to usd, so doesn't that reflect in btc usd price the same way.

no. peg to usd is achieved by manipulating supply of tether to match demand.