What a coincidence

you sure its not New tethers pushing up btc to ATH?

>everyone selling
>demand for crypto

I applaud the chinks and early adopters for dumping the bags on people this dumb.

It has nothing to do with crypto, you are just worried about how many fiat dollars people are exchanging for bitcoin right now. Whether people are trading bitcoin for $10, or $10,000, or a billion Zimbabwe bucks doesn't change what bitcoin is.

What universe are living in, crypto has grown like 100x this year. Do you only have a 1 week memory or something?

>currency that literally lets us out-jew the jew by avoiding taxation everytime we sell BTC
>getting mad over it

fag

enjoy jail

>thousands of people learn that tethers have been printed
>oh shit I need to buy bitcoin now before it pumps
>bitcoin price goes up
wow

> 1. Tether Co. (TC) has 100m in cash, 500m coins in circulation
> 2. TC prints 100m new coin
> 3. TC trades new coins for Bitcoin
> 4. TC sells Bitcoin for $100m USD
> 5. TC now has $100m in cash, 600m coins in circulation
> 6. Goto 1

Someone convince me that it's not working exactly like this. Their website even says that Tether is not guaranteed to be redeemable for USD.

Meant this to read
> 5. TC now has $200m in cash, 600m coins in circulation

The retard tether FUDers have no clue how tether works. I think the legitimate concern of tether is the centralization of its backing, and the security risks that come with that, but not the "printing" of new tether. "Print tether to pump BTC" is an idiotic meme right now.

It's 2018 you blithering spastic

Government shutdown...This has nothing to do with tether.

Why is everyone freaking out over Tether? How do you know they don't have fiat backing the coins?
>I-I just know
Yeah, that's convincing.

they think people with $100,000 are just going to use coinbase

doesn't matter, banks do the same with the economy, we need fake money in this world to stay afloat.

Because of all the shady shit with them pulling out of the US, refusing to be audited and not disclosing that bitfinex and tether are ran by the same people

They've been printing $100,000,000 every day for the past 4 days. Are you insane?

twitter.com/tetherprinter?lang=en

Are you going to at least attempt to tell me how it doesn't work like that? Really?

God damn. You're in for a rude awakening.

>tether is worth 1.03 USD
>more tether is printed for inflation
>price is now closer to 1.00 USD which is what it is intended to be
>BTC/USDT pairing goes up

It's not fucking rocket science

Total amount of USDT is 2.1 billion.
Is that unreasonable?

I think it's slightly suspicious that they claim to have $2.1 billion worth of liquid assets on hand to back all that USDT and that they are earning $100 million a DAY to cover the funbux they print.

More than a third of that amount has been printed IN THE PAST FIVE DAYS. They printed way less than this during BTCs massive bull run last November/December. If this does not strike you as fishy, then I don't know what it takes to convince you.

Ok, I did some more reading and it seems Bitfinex is fishy.

I guess a bull run does simply not increase the demand for tether because people are entering Cryptos? The demand for Tether increases when people try to escape cryptos for the "save" tether in bearish times?
Still I don't know,I am a complete donky brain when it comes to things like this.

if everyone knows that the price is being inflated by new tethers, then why is the BTC price on bitfinex not at a huge premium compared to other exchanges?

Yes, so if the entire market is selling their crypto to buy Tether in mad panic, where does the USD backing that Tether come from? They printed 950 million Tether between 1st of November and 31st of December, and that time period saw BTC's price go from less than $6.5k to $20k with massive amounts of new money entering the market. Now in January Bitcoin has only been going down, and threatened to go down even further, and for whatever reason as soon as the crash begins they start printing $100M Tether a day, and Bitcoin's price just happens to recover from a dip as soon as this $100M hits Bitfinex.

We haven't seen the last of this. They're gonna print another $100M Tether tomorrow, and the day after, and the day after that, and then they'll have printed more money in a single week than they did in two weeks of the biggest bull market crypto has seen.

why would tether fuck this up? all they have to do is park money in us treasuries and collect interest & their cashout fee. to attempt to scam anyone would be insanely stupid. if anyone at the company/banks knew about a scam they would short tether anonymously and tank the price.