Digital currency built as a safe asset away from central bank money printing

>digital currency built as a safe asset away from central bank money printing
>digital currency worth now entirely dependent on tether injection on a daily basis

Yes, tell me about how crypto is different from fiat again.

you don't know what tether is or does

>bitcoin's marketcap is over 200B
>tether usd's is about only 2B
>niggers like op INSIST tether is somehow the lifeblood of Bitcoin
>retarded Veeky Forumsnessmen believe them

this is the most obvious attempt at FUD ever

I believe OP does know what tether is or does. I believe it is you sir, who is either being ignorant or dishonest, you dirty pajeet cunt

I know it is the unit of account for most people in crypto. So you can manipulate the denominator effect to create the wealth effect, which is the same as QE

>this shitty thread again
here lads use this whenever fud faggot shits up this board.
No you don't understand what tether is!! This whole thing stems from one guy on Twitter misinforming a ton of people in what tether is. How in fuck can you believe tether printing supported the bull market and not mass adoption.. there is only just over 1billion tether out there and the cryptocurrency market cap is approaching 1 trillion.

Just to say it again. Tether is created when people WITHDRAW from finex. The money in finex is a bunch of big whales. If someone wants to move some cash to buy alts they do a tether withdraw to another exchange. Those dollars go into the tether bank account and tether is shipped to another exchange.

All this bullshit about it being printed money was entirely fabricated by a guy on Twitter named bitfinexed.

New people read his posts and like most conspiracy theories sound like they follow a system of logic. EXCEPT he completely miss represents when tethers are created to a bunch of people that don't know better.

The reason there is no correlation in price there is that it's not money being printed to buy coin. It's money that was just created by selling coin then moved around then bought different coins.

Bitfinex makes millions a day in trading fees. Why in fuck would they do the things alleged against them and jeapordize that?

I hate how gullible everyone has been in this subject. It couldn't possibly be that everyone's mom Uncle and dog got into cryptocurrency.. that cnbc started running crytpo programs all day... No... It's the 1 billion in tether that created this entire bill run???

Get fucking real. I get so pissed hearing this because it's so obviously wrong.

Tether is also used to conduct arbitrage between the largest exchanges in crypto.... How else are you going to move fiat between exchanges in an hour or less?

Market cap in cripto is a bogus metric you moron.

Riddle me this you retard. If whales withdraw from crypto into USDT, do the exchanges sell the crypto for USD? The answer is no. So there is suddenly a increase of USDT demand without a increase in underlying USD backing. How do you not see this as a house of cards?

>The reason there is no correlation in price there is that it's not money being printed to buy coin. It's money that was just created by selling coin then moved around then bought different coins.

>Bitfinex makes millions a day in trading fees. Why in fuck would they do the things alleged against them and jeapordize that?

Careful with the paid bitfinex shills.
They are trying to keep this scam going the longest they can.

>100mil printed hours ago
>btc starting going up again


THANKYOU TETHERS

this is what hyper inflation does in a supposed deflationary market where you can clone money to make another currency based on ownership of the original cloned money.

economist will be studying this for ages

isnt exchanging for tethers to usd banned in the US as of Jan 1st?

Yup, fags are convinced their million dollar USDT is worth a million while it’s deal value is already something like 1k USD

>Riddle me this you retard

Haven't laughed this hard ever on Veeky Forums

Not like it matters since redeeming tokens for money has been offline for months, as is registration (and they only let registered costumers redeem it), so it's not just the US

>he hasn't heard of the 200 billion shadowtether
hahahaahaahhahahahahah

not realizing that not 200bil of fiat went into crypto. Prob just 20 bil, which would make tether 10%.

>they only let registered costumers redeem it
and you have to be "fully verified" - whatever that means

scam

Don't forget
>Claim to be backed by US dollars
>Explicitly bans US customers

xrp