Tetherprinter

OMG FUD
REEEEEEEEEEEEE
LAMBOOOOOOOOOS
JUST FUCKING SHUT UP
FUDDDDDDDDDDDDDDDDDD

I unironcally don't get it: Why would they not back their tether as they say? They make money by fees don't they, they would cut off their own source of income if they fucked this up.
It reminds me of all those people saying pokersites are rigged..maybe I just don't get it, but what is the problem with tether and why should they want to print out of thin air??

Now it's 200 million/day
Literally a few weeks and Tetherprinter will print 500million/day

>the state can launch SCUD missiles, why can't we?
Cute.

*Print silently*

Because the whole thing was invented as a way for them to pay out to the account holders who got hacked through their shit site. Then they realized "oh hay fuck people are stupid" and the game was on.

If this way true why would no other company do the real thing?
I mean it's actually a brilliant idea to create 'tether' currencies and I bet there are numerous banks / invesotes who would happily back such a currency with real world currencies no?

being able to bring down the btc market whenever they want is a bigger threat than a few thousand pounds of explosives strapped to a rocket

I'm tired of brainlets who don't understand economics or finance saying that the USD is backed by violence. It's based off of the GDP and debt the US has, which is what creditors evaluate when giving the US a credit rating.

This, it's incredibly ridiculous.
Also people don't seem to understand that in a case of a massive crash of regular currencies the least thing you will be able to pay with is some bits / bytes in mad max land.

>btc tanks
>tether has less value backing it
>people jump to tether because of price drop
>prints more tether to keep tether value to $1
>each tether has even less backing now

Nothing is wrong here.

Agreed. They are backed by the faith in bitfinex.

Isnt it run by italians? You can always trust italians.

What the fuck do you think ERC20*.* are?!

I talk about dollar backed tether dollar.
Or euro-backed tether euro..
Which ERC-20 coin is backed by the corresponding amount of a real-world currency? I'm a stock market pro, newer to crypto, this is a serious question.

I'm not sure if this is how it works.

Move over to Dai, boys. It's decentralized and can be used in smart contracts. Dai is the biggest thing to happen to crypto since the the invention of Ethereum.

>says he will look into the tether fud back in november
>proceeds to sell all of his litecoins in december

What the fuck did this gook find out?

Tether isn't backed by a goddamned thing.

shapeways.com/product/A7E5E22DR/giancarlo-devasini-metal?optionId=18640825

There isnt and the market would be a lot healthier if it were.

Bank of england were considering it but didnt because theyre bureaucrats.

Crypto backed with fiat and crypto backed with tiny amounts of gold would add substantially more legitimacy to the crypto space.

>cashniggers sperging out again
You got BTFO in yesterday's thread, why start again ?

Finex makes 10 million in fees everyday retards, tether is fully backed
Tether conspirancy theorists actually belive that exchanges don't make money. That's how retarded they are

I read that before, not saying tether is not a scam, but how is the price kept stable if it's not backed?
Why is no other company doing this? It could be THE cashout vehicle:
Create tether, back tether, exchange tether for money, collect fees, rinse and repeat?
It's basically a bulletproof way of making money with no risk - IF you backed it with real currency.

good thoughts, didn't know! Isn't Russia developing a digital rubl or something?

>Exchanges making millions in cartoon internet money is somehow equivalent to having real assets to back the claim made

>make 10 million in fees
>print 200 million per day
This doesn't add up.

You do realize that there is a lot of money in crypto right ?

Finex doesn't own the entire tether supply

Tether was created in order to pay out money they didn't have to cover losses from a hack and because they had no banking instruments available to them. So you're saying that it's now backed by their profits. It's a very flexible thing, this Tether.

Bitfinex is literally the same company as Tether.

Mt Gox 2.0 ... featuring Bitfinex

coindesk.com/tether-claims-30-million-stable-token-stolen-attacker/

biznews.com/global-citizen/2017/12/06/bitcoin-bitfinex-tether-risk-crashing/

cointelegraph.com/news/tether-really-isnt-a-scam-company-promises

bloomberg.com/news/articles/2017-12-05/mystery-shrouds-tether-and-its-links-to-biggest-bitcoin-exchange

medium.com/@bitfinexed/the-bitfinex-dilemma-blow-up-now-or-try-a-hail-mary-to-retain-in-business-10b9d989359f

medium.com/@bitfinexed/spoiler-alert-the-institution-buying-tethers-is-bitfinex-themselves-f56af29ce60c

reddit.com/r/Tether/

...

titanic crash, regulations and bans ahead ... this market will change ...

Irrelevant. See tether's wallet distribution.
Do you believe that Bittrex and Binance are owned by Finex too ?

>mfw when italian mob took it all.

>Operating twice a day now.

DAI is good but it won't survive a black swan currently. It'll take them probably 12-18 months to make it rigorous enough for that, maybe more. At the moment it's only collateralized by eth, so if the whole house of cards comes down DAI will too.

It's not irrelevant. People buy Tether with the expectation that they can be cashed to USD. Ergo, it needs to be backed 1:1 for this assumption to be true.

How do I margin short this phenomenon?

a day has 24 hours you absolute imbecile. they also printed 11hrs ago

Q: If tether is artificially increasing the price of bitcoin, does this not mean the value of bitcoin will go down regardless of exchange rates?

Current price of bitcoin is 12.46, but really in my mind 11 seems a reasonable value.

Bittrex and Binance having USDT changes nothing. Much of it is probably their customers' money, and since Bittrex and Binance don't trade in real USD pairs they can't have the USD cash flow necessary to fund all the Tether being printed.

im an idiot, is this how this system is going?

1: print infinite money using tether because idiots and $$$$$$$$
2: people on the bandwagon trade tether for btc in order to trade for their preferred fiat
3: btc price tanks and supply shoots through the roof as more and more people sell their btcs for fiats
4: the jig is up as btc hits the floor and the last guy holding the bag jumps out a window

thats just what my 50iq brain thinks is happening

Monopoly on violence is a distinct concept from violence.
You don't need to use violence to secure your monopoly on it.

Pretty much. Also the alt-coin bull market is probably accelerating this as people are selling their BTC for alts.

siphon some money outta btc ... before ship goes belly up

Are mods autosaging this thread or what? It keeps dumping despite constant replies.

What's the point of buying tether if it'll only ever be worth $1?

people who don't own tether will not end up being affected by the crash

If Tether goes, so does Bitfinex, Binance, and every other exchange that operates using Tether instead of real USD pairs. If the price of crypto is shown to be inflated by imaginary Tether money, it will fall sharply on every exchange.

If Tether keeps printing money at the rate they've done for the past week, it won't be a question of if, it will be a question of when.

see
i guess

tether prints money as money is deposited. Crypto is growing, more people depositing, more tethers being printed

you guys are scared over nothing

yea i think its /u/theymos who is trying to censor this thread

How the fuck are people comfortable investing good chunks of money (not life savings thats retard tier) while this bomb is swinging over everyone's noggin?

beats me too. everyone thinks they're safe just because they don't invest in usdt but its going to crash the market as everyone realises all the prices were artificially inflated

They want to be (((rich))) and know jewing is the only way

>0.7 BILLION dollars of new money flowed into a crashing bear market in less than a week

They are retards who think their lifesavings (about 2k) will make them millionaires when they invest in some shitcoin. Smart money has already left the game and now we are just going with the flow which is manipulated by wallstreet, exchanges and miners. There is some really dark shit going on in crypto. Like this: tradingview.com/chart/BTCUSD/6GuxadAx-Manipulated-Dump/

you guys are just as delusional as nocoiners

you must be a terrible trader. you understand you should be buying low and selling high, right?

sorry kid, but you're not "smart money".

buy low

Can someone explain to me what tether is, what's the recent on it etc. I've been busy for the last week and a half with exams and assignments, but I come back to biz and there's a lot of talk on Tether.

Tether has only a 1.6B market cap.

What's the difference to ripple founders who buy your real crypto with useless crap too? They also print ripple out of thin air. And that's a 60B problem.

That's kids fantasy not shady shit. Insider info Bitcoin won't go over 15k again. my sides. rofl.

>Its basically free money for them.
>This is how the world has worked always.
wow this is the epitome of stupid,

twitter.com/tetherprinter?lang=en
twitter.com/tetherprinter?lang=en
twitter.com/tetherprinter?lang=en
twitter.com/tetherprinter?lang=en
twitter.com/tetherprinter?lang=en

IF.

I hold tethers and tether implodes, what happens to my tethers if all coins, btc and alts alike, crash along with it?

The market cap of every other crypto is not the total amount of money that has been put into that crypto. You should already know this. The market cap of Tether, however, is supposed to be the total amount of USDT that has been put into Tether, and it's all supposed to be held in the account of Bitfinex, a company that has been embargoed by virtually every US bank.

Isn't the purpose of printing tethers to keep up with supply demand and also maintain the price around that of the USD?

>When demand increases we print more and give the money to ourselves.
>Nothing wrong with this.

You know who else thought they could prop up their businesses through fees, without holding any real assets? Banks in the 1920's, lmao

what do you think happens

Lol this isn't the big short dude

Wtf not even tether itself claims its backed by BTC where do you people come up with this shit?

>one century later banks are still here

Your point?

not the same ones
and it triggered the great depression

>What is the federal reserve or any central bank.

>your brain on tether

Isn't tether just worth all of the net inflow of cash in crypto? So we should be just fine.

When people want to get out of BTC because it is going to drop and buy USDT, more USDT is created to keep up with demand.

Why are you so worried about USDT when new cryptos are also being 'printed' every week, not to mention USD itself is backed by nothing.

They definitely aren't skeleton crew companies that claim to operate out of Hong Kong but actually operate out of the Virgin Islands, lie about their ownership, refuse to be audited, and refuse to disclose what banks they are partnered with to store their two billion dollars.

>yfw Tether is a scam perpetuated by Goldman Sachs and other big banks that feel threatened by crypto
>the whole point of Tether is to crash the cryptoconomy with no survivors (and make some money along the way)

He found out about idiots buying litecoin and realised it had no future so he dumped on all of them at ath Lmao

The price of the other cryptos aren't fixed at $1.

>Then why are they printing more whenever btc loses value?
To get the value of btc back up, dummy

>USD itself is backed by nothing.
And yet I pay for my food and rent with USD. I could go most places in the world and find people willing to accept USD in exchange for goods and services, even when it isn't the local currency.

Why the fuck would ANYONE want central banking in crypto? Go buy fiat if you want to play that game.

>not to mention USD itself is backed by nothing
A country and an army are nothing

>no_brain.jpg

>50000
>mfw

stockemperor.com/currencies/tether-printed-more-usd-us-government/

>if I hold tethers and tether implodes
>what happens to my tethers
>tether implodes

this

how does tether stay at a dollar across all exchanges?

Wash Trading

youtu.be/kyQfGsYDcnw?t=13m40s