>TETHER PRINTS $100M
>PRICE STARTS TO RECOVER
is there anyone left who doesn't see through this sham yet? you have to be the most hopelessly gullible soul to actually think there's any market integrity left or that tether has anything near the funds required to cash even half of its currency.
Check out the 30min charts of BTC / USDT
What do you see? 7 pumps? And not in a single one tether was printed.
Therefore your whole argument is invalid. People like to see what the believe in. Furthermore more a bigger dip in BTC, forces people into tether and increases the demand to print more.
>What is demand and supply? 101
the new printed 100m Tether isnt in the market yet
it still need 3 confirmations...
always these fucking brainlets
Can someone coherentry explain to me what tether is?
we need to just turn a blind eye as a community to tether. Tether is single-handedly propping up the market so that we don't go into total meltdown with all the VC, Big Investors, and Wallstreet money leaving.
I. Dont. Care.
You fuckhead. I lold
>People like to see what the believe in.
this
ever heard of confirmation bias, OP?
finally they plugged the Tether printer back in! Yes, it's a scam. Stop talking about it. Without the Tether scam, we have no gains. Just get out quick when it finally comes crashing down.
Yep its not working anymore. Remember the last time they printed 100m? They already printed 750m in the last week and BTC still went below 10k today lol.
People can use this tether nonsense to swing trade for a bit, but you're right everyone should get out of any HODL positions if they can still take a profit, and rejoim when the inevitable correction down to 5k-8k occurs.
>people wire fiat to buy tether
>tether gets printed
HURRRRR DUUURRRRRR DEYY DONT HAVE THE FIAT TO BACK IT UPPPP HURRRRR
They own the exchange they can just grant themselves the tether if they really wanted to. Get the tether later.
Who is wiring fiat to buy $100M of Tether per day? Only Bitfinex can do this since they lost banking. Oh that's right, it's the "corporate customers".... nothing to see here folks, definitely legit.
Bitcoin going down. Demand for tether increases because of weak hands. So they print more? Is it really hard to fucking understand?
they have banking since 2 months nice try.
this 100x leverage
Lmao you call that a pump? You'll need 1bil to keep it above 10k at this rate
how do they print $100M did the treasure gave them the blueprint to $100 bills?
>they have banking since 2 months nice try.
Hahahahahhah the cope. Look im enjoying making gains because of Bitfinex but lettuce be real here. These guys are 100% committing fraud.
>TETHER PRINTS $100M
$100M USDT cannot save this from completing its correction to $8k, brainlet. Not even close.
>pajeet "tethers up" his BTC
>tether prints one USDT
so out of one BTC
>pajeet has one USDT
>tether has one BTC
double the market assets.
this is perfectly healthy, isn't it?
they have 2 ways of printing tether now
ERC20 tethers. double the pump
>he doesnt know about erc20 tethers
>double the market assets
How is this different from creating any other crypto out of thin air? Imagine walking through life being so stupid that you post about conspiracy theories you don't understand on a Bhutanese anime forum.
Only matters if it isn't fiat backed. If it is backed even by ten percent there's no problem.
lol, except the newly printed tether is almost instantly used to make these massive btc purchases. it doesn't even move wallets, they come straight from the bitfinex wallet
btc totally getting pumped with magical money and it's going to make the market bomb hard.
>people sell of VEN and buy in tether
>people buy in tether because they realize the bear market isn't over
>tether prices goes above 1.00
>they print more tethers to bring the price back down to 1.00
why the fuck is this so hard to understand?
people sell their fucking bitcoin when it dips retard
if there isnt enough tether the price would increase, therefore print more so the price remains 1
how is this so fucking hard to understand
Tether is probably insolvent but i REALLY cannot shake the feeling that the FUD about it is just people who want to use tether themselves during the bear market.
Finally a person who understands how tether works. So many conspiracy theories
But what's the maximum amount they can print?
tether is why we got this far in the first place
>people sell their fucking bitcoin when it dips retard
it's the opposite process, btc gets PURCHASED not SOLD here, just enough so the price doesn't fall. only bitfinex can make these massive purchases during a bear market
>if it's backed
>no evidence ever provided that its backed
>actively refuses audit
c'mon pal.
The only reason why tether could bring down crypto is for them to get audited and not have enough money to cover every tether in circulation. However even if they don't, people don't go to tether to cash out but to weather the storm so who cares.
it is FUD, theres people that want to see bifinex fail.
problem is bitfinex has already dug a grave for themselves with no real audit (even said so on the tether site).
they've got 2 different sets of tethers now, new one being a erc20 token.
Buy orders flood the market immediately after recieving 100mil of tether, problem is no big trader i know would actually use tethers because of their premium.
>If it is backed even by ten percent there's no problem.
Sure there's no problem if BTC real price is $10k or $1k.
why the fuck do people give a shit about bifinex?
i mean i bought into crypto via fucking gox, but who the fuck cares about one xchange vs another enough to FUD it?!?!?
W8 so ppl wire fiat to these guys and in turn they print out and send them back tokens, based on the fiat they sent?
You've explained how this works. You just forgot the 'each tether is backed by fiat' part. You know, the whole reason people are buying tether. they think 1 tether is "redeemable for 1 USD". Sure it is. As long as nobody tries to convert their tethers to Fiat we will all be fine.
...y...you realize every time one is bought...someone else is ...s..ss...selling right user?
you're missing something there mate.
>"people sell of (sic) VEN" and buy in tether
they don't "sell of (sic)" anything, they exchange their VEN for tether.
tether then prints the USDT value of the VEN being traded.
so the customer has the USDT value of the ven while tether has the VEN itself, which it can then trade. so value has been conjured out of thin air. double the liquidity.
this is why it causes pumps. it conjures liquidity out of nothing then uses it to prop up the dying market.
Yes that's how it works.
But also they should burn it when people sell tether.
That's what Tether say is happening but everyone knows nobody is wiring them any Fiat. There is supposed to be 1 USD in reserve for each Tether. We all know there isn't. This will work, so long as too many people don't try to cash out their Tethers for Fiat and the whole market suddenly realises they are worthless.
you are so fucking dumb it hurts
BItcoin is mostly bought in fiat pairs.
I really hate people like you. What the fuck would stop bitfinex from immediately using the tether they print? Why does it need to physically be in the wallet for them to grant it to an account on bitfinex? No matter what side of the tether debate you are on that's how it would function.
There is no way of knowing this anymore. Exchanges that deal primarily in tether convert all fiat they receive into tether.
> people wire fiat to buy tether
WHO THE FUCK DOES THAT LMAO
You can't print bullshit e shekels, they're downloading them via the Internet and then uploading them to other computer machines.
This is why you can't buy tampons with bazingacoin, please do better tether memes.