This tether shit is looking really shady

tl;dr

>tether will probably crash but it wont be that bad guys because there are more coins like tether which make up the crypto market

>implying any crypto has real value

this guy gets it

pls go on cutting ur arms and jackin off to that instead of creating dramathreads to show ur obviously non existent understanding of how markets work

u fuckers are just mirroring senseless articles written by 24 year old girls who majored in english literature and now work for a shitty news outlet because daddy paid for the unpaid internships

he said tether will probably crash tho...

Crypto is not a bubble.

If the tether/USD ratio crashes you will be

This is by far the best post in any tether thread.

Yes but it doesn't fucking matter if it does. The market will be unaffected except for retards who are holding their capital in USDT.

They would have crashed during the last hype.

.....but they printed more tether ;^)

learn reading skills
learn to read and understand texts longer than two sentences or reddit headlines

maybe it will, maybe not
just like most of the vaporware out there

however, the outcome will not be the big drama anyone of the dramaqueens making ten threads a day hopes for

get your immature exitement from other things in ur life, how about starting an argument with ur mom ?

if not, then read a few econ books and at least make the effort to understand basic principles, u will profit ur whole life

I work for Tether So I am really getting a kick out of most of these replies. Some of you guys are very good at making it sound like you know what you are talking about. But trust me.... You don't. I think you just want to make yourself sound smart, when in reality you dont know what you are talking about. This is how bad info gets passed around. If you dont know about the topic....Dont make yourself sound like you do. Cuz some channers belive anything they hear.

Hi Bitfinex employee in charge of the Tether printer.

>Consider Bitcoin Gold, whose market cap is more than twice as high as Tether's. We know for a fact that almost the entire supply of Bitcoin Gold was effectively created out of thin air just a few months ago. It isn't "backed" by even a single US dollar, yet it can be traded just as easily as USDT. So why doesn't anyone seem to be worried about the possibility that the whole market will collapse when people finally realize that Bitcoin Gold doesn't have any intrinsic value?

look at volume traded, not market cap.
bitcoin gold isn't used to prop up shitcoin exchanges.

we have the exact same perception of the situation tho, that tether very likely could be scam

This.

People also seem to imply that people only invest in Tether because it's supposedly backed by USD.

That's bullshit, of course. How many people using Tether now are going into it purely because they think they can trade it for dollars? Pretty much none. They all do it because its unique make-up makes it a safe haven to buy back into dips.

Tether cannot crash the market, and simultaneously makes it much less likely for the market to crash because the easily spooked have somewhere else to put their funds instead of cashing out into fiat and exiting completely.

The only situation where Tether would crumble is if everyone wants to convert their Tether to USD, and that would only happen when the market has crashed and burned already with no one trying to buy BTC or any other alt with fiat. By that point, it would be game over anyway, regardless of Tether.

Everything is priced in USDTether. If tether breaks the buck and goes to 0.5. It means if you thought you had 10k in bitcoin it was actually 5k. If you think the impact of this is small, you are a complete retard

>a safe haven to buy back into dips.
that's only the case if they print more tether to pump up bitcoin and then people are going back in bitcoin...

>How many people using Tether now are going into it purely because they think they can trade it for dollars? Pretty much none. They all do it because its unique make-up makes it a safe haven to buy back into dips.

Are you fucking stupid. Tether is a safe harbor because it's pegged to the USD. People buy tether precisely because they believe it is worth the same as USD and can be sold for USD in the future. (either from cashing out directly or buy buying crypto that can be sold for USD). Once people stop selling their crypto for tether, everyone who is still in tether will lose all their funds just like what happened with bitconnect.

i can't even. are you guys brainlets or paid tether shills.

>Tether would crumble is if everyone wants to convert their Tether to USD
don't think you can even do that

brap

r u really this stupid or just playin with me, i honestly can't tell these days

Unless Tether is actually backed 1:1 by USD, in which case someone, probably anyone who believes/knows that Tether Limited is actually solvent, will buy it up until it reaches $1.

It all hinges on whether or not Tether Limited is solvent. My guess is it is, and what's going on is in the times of uncertainty with Bitcoin, more people flee to USDT , which drives up demand for USDT. Bitfinex, knowing Tether Limited is solvent, buys more Tether for $1, then dumps it to collect an arbitrage premium.

This, in turn, creates a big BTC buying event and drives up the price of BTC. That's why this is a form of BTC rocket fuel.

but there's no when.
tether has 0 reason to be fake. for that $1.6b? for that extra price in BTC?

bitfinex had an income well over $5b last year. just look at their fucking trading/lending volume through last year and multiply it by their fees on trades AND lending interests. even if nobody actually paid them for tether, they could alone put down $1.6b behind it.

>believing the "we're solvent" meme

>tether has 0 reason to be fake
Just like Bernie Madoff, right?

I'm not believing any meme. There's really no good evidence either way.

I'm looking at market timing. From what I've seen, this is how the USDT asset is behaving.

you're totally right there's absolutely no good evidence that usdt is backed

AAAAAAA STOP THE PAID SHILLING IN THIS THREAD IS UNBELIEVABLE. MANY EXCHANGES COINS HAVE TETHER PAIRINGS YOU FUCKTARD IT DOESN'T MATTER THAT TETHER ITSELF IS ONLY A SMALL MARKET CAP.

Whatever Tether is, it's 100% not a ponzi

pls reread the crap you wrote carefully and try to make some sense

and pls tell me you work some sort of maual labor where u can't harm someone

the pain these days in /biz....

bernie madoff took investor's money then gave accurate trading history that he doctored after the markets have moved

it has absolutely nothing to do with tether, like what the fuck, how does it even compare, why can't you be at least remotely intelligent god i hate this board

Just think about it. In what situation would people want to try and cash out their Tether for USD en mass instead of re-investing? Only when the market is so fucked that they have no interest in re-investing back into alts or BTC because fiat purchases have completely dried up. That is the only situation.

A massive market crash of epic proportions would have to occur before Tether is ousted as the problem it may be. It will never come before an epic market crash, is therefore unable to cause one.

Bernie Madoff had a reason to be fake: to dupe people out of money.
Same with Tether. They're not doing it in the same way, of course.

Even if the market crashes because of let's say government regulation. People in tether got scammed because they thought they were in a safe harbor and they lost everything.

There's a certain threshold of stupidity above Walmart greeter level, where you think other people are the retards when actually it's you.

wouldnt people just move their btc to an exchange not based on usdt in the event of a tether crash

Holy fuck you are retarded. If tether goes bust bitfinex, bittrex and god knows how many exchanges immediately become insolvent.

A shitload of total volume (net buys) is priced in USDT. If it goes out of the market you will have net selling pressure.

What do you think will happen to the price of bitcoin if suddenly 75% people want to sell and only 25% want to buy? It goes near 0.

This is exactly what will happen and you know it, because you are a paid shill for Bitfinex.

This. People think they can stand in a bread line and redeem the tokens for fiat money if everything crashes to 0. I don't hold it because I think it isn't backed.

USDT (store credit only) keeps people's money on exchanges. Without it, cashing out would actually be cashing out and the exchanges wouldn't be able to stay solvent through a crash.

guys its fine if tether crashes the market we can just print more usdt to prop it back up

tether is the end that (((they))) setup

just exit 80% of your coins before it goes bust and everything will be okay

what is dunning kruger?
what is transference?

its like ur all coming here from reddit/dramaqueen to spread awareness based on the considerations of a 14year old who shows his dad how he is wrong about anything in life

i can't even....

This is Binance's USDT balance over the last three weeks for those following.

01/04/18 $142,427,562
01/07/18 $130,433,529
01/18/18 $335,133,402
01/19/18 $408,722,711

Are you fucking retarded?

Tether is just being printed to inject "cash" into a failing market. Normal folk aren't the ones buying 100M at a pop with their $

It's a fractional reserve scam, like QE

so u cashed out already?

put ur money where ur mouth is?

no? why not?

u just get off to the imaginary drama you trying to create in ur head

He was talking about you aswell SPECIFICALLY retard.

All you did in this thread was throw Ad Honinem attacks around while refuting nothing and backing the most retarded post in here.

But I thought that the whole point of BTC was to avoid stuff like QE

i repeat:

so u cashed out already?

put ur money where ur mouth is?

no? why not?

u just get off to the imaginary drama you trying to create in ur head

13 year old suicide stacy style

>he forgot it was wall street bonus week this week

go to bed carlos

Your lack of self-awareness is fucking tragic. I never started talking about intelligence until you did.

>Bitfinex, knowing Tether Limited is solvent, buys more Tether for $1, then dumps it to collect an arbitrage premium.
You do realize that Bitfinex and Tether are the same company?

im perfectly aware that he was talking about me

you have the same nonexistent reading comprehension as the other retard

Ad HoMinem btw u fucker, because you are clearly lacking the mental skills to understand the only reasonable post here, really, it hurts so much

So basically like the USA prints money?

If the dollar ain't crashing, what makes you think this will? k3k

All I've learned is exchanges learned how to play the game. You'll be fine.

because your obviously non existent understanding of how markets work and basic econ principles is outright hilarious

pls tell me you are still in high school

and i repeat:

so u cashed out already?

put ur money where ur mouth is?

no? why not?

u just get off to the imaginary drama you trying to create in ur head

Why would I cash out? I think Tether is solvent, moron.

You sound so incredibly stupid, marginally literate, and possibly bipolar - but I didn't need to take a psych class to diagnose that.

It's supposed to be, but tether just created a fucking new fractional reserve system. That's why it's poison.

I cashed at gdax through litecoin, so I did.

It's falling. Pump more Tether now.

They are not the same company, but they are the same people. That's why Bitfinex would have access to purchase USDT at $1:1, and why it would want to in situations where the market price of USDT was at a premium.

When I say Bitfinex would "purchase," it would be a simple transfer of funds from a Bitfinex account to a Tether account.

You do realize that the 100m batches go straight to Bitfinex in order to service USDT withdrawals? USDT is not a tradable asset there.

If they wanted to create money (or BTC) out of thin air they could just modify a couple of lines in their database instead of messing around with a blockchain trackable asset.

Actual people only transact in sizes like this:
omniexplorer.info/lookupadd.aspx?address=1KYiKJEfdJtap9QX2v9BXJMpz2SfU4pgZw

Since USDT is leaving Bitfinex all the time, and much less is coming in they either have to shut down USDT withdrawals or get more from Tether.

Don't you think throwing 700 imaginary millions at BTC in a week would cause a massive premium on Bitfinex over the rest? Or on USDT exchanges compared to others?
This would cause USDT to trade at a discount on Kraken btw, accelerating USDT inflows to Finex.

No they use it to buy bitcoin with fake $. They can trade whatever the fuck they want. That is what they are doing, are you fucking blind??

Tether props BTC--->BTC props Tether--->so that Tether can prop BTC

Tell me where real fiat is entering the pic??

Yeah I’ve cashed out

Further, additional legit tether prints should correlate to droping BTC, because folks are selling for tether. Increasing BTC, because people are trading tether back, should see a reduction in supply not additional. How can you not see this?? It's basic macroeconomics

Do not leave money on exchanges - its all gonna fail when tether fails

The denial is insane.

FDIC insured exchanges offering real USD pairs, like Coinbase, should be safe.

>btc crash
>mass demand for usdt
>usdt price starts climbing
>more usdt is printed to drop value back to $1

so I get that part but what happens when more people want to buy back into btc and tether starts dipping below a dollar? Do they start buying tether en masse to stabilize it?

You act like Tether is the only thing BTC is trading against.

Secondly, >No they use it to buy bitcoin with fake $.
Don't you think it would cause a sizable premium at least??

Yes, asset nr. 27 is holding up the rest. Lucky we still have Binancecoin on nr. 26 to fall back to.

People do.
You can deposit USDT on Finex and get 1 USD for it, which you can then withdraw. If it start trading a couple of cents below a dollar it will be worthwhile for arbers to get on it.

You cannot withdraw USDT into USD at Bitfinex. You can't do it on the Tether website, either.

Okay, follow me here. People demand tether because BTC is a depreciating asset. So they issue tether (supposedly backed 1:1) to acquire a depreciating assett. That is what they are saying is backing tether. It's depreciating, so how can that work? Their backer is less than they acquired it for. Then magically more tether prints and is traded for BTC to drive the price up. They then sell the BTC to recoup the tether. No actually real money drove the price, only their imaginary $, but they can never get the total print back because that would crash the price again, so they have to print more. It's a vicious circle unless a mass influx of real $ saves it. I think they are playing for time and trying to tempt real $ back in. Hence scam

tether presented at north american blockchain conference this week, answered all questions, announced partnership with blockv which is mooning like shit, tether fud is old fucking news

Of course you can.
The more you know..

the problem really is that there is no oversight on Tether.

what is stopping them from printing shitload of Tether, buying Bitcoins and then trading it for USD?

this is the real scary part

Decent bait

I meant Bitfinex

>That is what they are saying is backing tether.

No.

That's exactly what they are doing. Bitfinexed uncovered it. Seconds after tether prints BTC pumps.

No it's traded for real dollars, but not enough to be causing this run VS. tether print. This run is tether print. Look at volumes on exchanges without tether pairs and tell me I'm wrong.

Jibrel Network Token (JNT) may be a USDT killer if it can solve the transparency/solvency problem.

That's exactly what they are already doing: printing millions everyday until this things blows up.

No, seriously, you can on Bitfinex.

Then what is it's backing? Almost 2bn cash?? Nigga please, it's coins traded for tether

I am actually out as of this morning, keeping my profits in fiat for the next shoa

interesting that makes sense

>take 40% tax rate cashing out AND miss out on crypto long term
>or take odds that market doesn't crash
fuck it

>especially those who have more than $50k Dollar in crypto?
Honestly, if a tether crash brings the market back down under 100 billion I will be an hero.

Just went to that guy's Twitter and I am blocked? There are some fucking weirdos in the crypto space.

I just did. The majority of volume is on exchanges where there aren't even any USDT pairs. As for direct pairs, 3 out of the top 20 pairs are USDT.

Yes, cash. You think on market that does 20-30 billion dollars in volume a day 2 billion in one asset that's traded on shitcoin exchanges is an anomaly?

I'm not talking about you, and this isn't relevant to the discussion but I like how on one hand people are like "lol who is holding 2 billion in USDT, don't be ridiculous". Then another day they are obsessing about the fact that USDT pairs for 2-3 billion a day. "Omg, they are trading twice their market cap, this is fishy".

Yeah it's almost as if most people only hold USDT for short periods to jump in an out of the market.

He blocked everyone because he was getting major grief for calling the scam out.