Daily reminder tether is a scam

Daily reminder tether is a scam.

Other urls found in this thread:

treasury.gov/resource-center/faqs/Currency/Pages/edu_faq_currency_production.aspx
investopedia.com/terms/f/fractionalreservebanking.asp
youtube.com/watch?v=-09ap6zIB6I
en.m.wikipedia.org/wiki/Fractional-reserve_banking
twitter.com/NSFWRedditImage

It's not a scammer. And you're just another normie

Tether is a person for you?

>doesn't understand QE
No wonder /pol/ is so jealous of Jewish bankers, they're literally on another level, intellectually and economically

there never would have been the fuckig need for tether
you can all thank blockstream for completely makingbitcoin useless
just to get their (((lighning network)))
fucking faggot sell everything and fuck off this board

delet that

none of you tether FUDers can explain, step by step, how "printing tether" can somehow artificially boost BTC price.

you can't explain where tether actually gets its money or how it 'prints' it or who actually gives them the authority to do so

checked

It's surmised that the initial jump to 20k was partly inspired by tether (that is, the printing and injection was coordinated by tether) as well as softened the blow of the sellout that followed on what we now call RED DAY. Then people got all worked up about it and now there is a twitter account that automatically posts every time they print. It's kind of bullshit because it essentially acts as a governing body and anchors btc prices. People think USDT = USD just because they're trading it on bittrex but it's a scamcoin. Think about it this way: Tether is no different to Ripple because ripple already has an infinite supply to draw from. Big whales and devs control the entire supply of ripple - just because it can be useful, doesn't mean it's a good coin. These days the community hype just works for it. Tether no longer spends the coins it prints - they simply print it there and leave it on the network to let people create hype. People automatically assume btc prices will be pumped by it and buy in. They only had to do it once to prove they could. Now they just let people do it for them and sit on it til people forget. Look for big players to pump BTC price with it at some point before a MASSIVE dump.

>This is the state of your avg crypto hodler

Tether time bomb confirmed

Binance can sell their BTC using different accounts in different countries.

You are deluded

so basically it's an unproven conspiracy theory about bitfinex. ooook. let me know when you get a shred of evidence.

fake tether is welcome because most exchanges have absolutely no liquidity to cover their crypto assets in case of a run.

The Tether FUD is useful to keep low IQ retards from buying BTC so they can buy scams like bcash and stay poor. So I say keep it going cucks ;)

Pls, one of you normies PLS explain to me how printing tether out of thin air and buying bitcoin with it is different from printing dollars out of thin air and buying bitcoin with it.

Print 300mil Tether in december and everyone loses their minds, print 560mil Dollar each day and no one bats an eye.
treasury.gov/resource-center/faqs/Currency/Pages/edu_faq_currency_production.aspx

>an unproven conspiracy theory
it's a simple audit. proving that for each tether they've emitted there's a dollar on a bank account should prove trivial. bitfinex:

has not gotten an audit in more than 6 months
lied twice about getting an audit
shares the same exec board with tether inc

i mean, it's really easy to see the writing on the board. it's in glowing neon at this point.

I don't know if tether is fully backed, but real people do buy it with btc

Binance could create their own tether easily and make millions if they were in on the scam, i just suppose they have good reasons to use bitfinexs solution and some of the arguments in this thread are no better

>for each tether they've emitted there's a dollar on a bank account
How new and naive are you? No one has this money, everyone just has tiny fraction: investopedia.com/terms/f/fractionalreservebanking.asp

You have a 10% reserve requirement, thats it. You're uninformed and deluded

Daily reminder I throat fucked your mom so hard I could grab my dick when I fistfucked her ass.

2 billion tether in circulation. BTC has a market cap of 200 billion. Wouldn't pump it that hard.

you don't understand how any of this works.

It just seems like a bunch of guys who want to LARP like they're in the big short.

Most of the tether printed is paid for by exchanges and used in arbitage.

Usd dollar doesn't claim to be backed by anyting, you accept it can devaluate

Tether is supposed to be backed by usd

enlighten me,pls

I admit that this is quite worrying but ther's one thing i just don't get

WHO THE FUCK SELL BTC FOR TETHER ?
especially when so many exchange allow you to go back to USDT

If anyone wants to dump their tether bags I will buy all USDT for 50cents each.

Don't try to use logic. This is a Tether FUD thread. Let's keep it that way

>Too high of supply lowers price
>Create demand with monopoly money
>Raises prices

on fractional reserve banking, banks issue the money they have in deposits through loans, meaning that they expect that money to return to their reserves at some point. they don't fucking """create""" money. holy shit.

the absolute fucking state of biz. I swear to god.

>Tether is supposed to be backed by usd
Which is backed by nothing.

(This actually isn't true. USD is backed by oil.)

>loan out money you don't actually have
>expect it to be repaid plus interest
>do this ten times over for the amount of money you actually have
>money is not being created

>underage b&
i will take your money

>>loan out money you don't actually have
and i thought tether was the real conspiracy theory here.

If you loan out the same money 10 times simultaneously you are loaning money you don't have.

90% of that is replacement money because dollar bills wear out from being used to snort coke and being shoved in to thongs.
Does 90 million of tether need replacement whenever bitcoin falls?

>If you loan out the same money 10 times simultaneously
that's one hell of a conspiracy.

Do you understand what fractional reserve banking is

That's literally how it legally works, you retarded goy.

are you fucking retarded? first of all, the majority of bills printed are for replacing old damaged ones. second, yes US monetary policy is crooked as hell, but it's not like the gvt is just giving banks handouts when they increase money supply. they buy treasury bonds on the market.

The concerns about tether are 1) that bitfinex might just be buying btc with made up money, and 2) in the event of a run on the markets, there could be insolvency if tethers don't have backing with fiat, leading to a much larger crash

>USD is backed by oil
really it's the military might behind the oil, but yeah, basically this.

USDT is tether you tard

Here, one minute of your time:
youtube.com/watch?v=-09ap6zIB6I

jeez you don't know anything

Hold up.
Are you saying USD is backed by the blood of Muslim Children?

Looks like it's babbies first Jewry lesson for this chump. And thanks for the short video storing that for future tards like this guy.

USD is backed by the most powerful army in history

just ask kadafi / hassad / hussain what happen when you don't want to use USD anymore

the US is basically bullying the world into using their worthless paper so they can literally print money

where does it mention they loan out the same money 10 times, jesus christ

>1) that bitfinex might just be buying btc with made up money
every money is made up, idiot

>2) in the event of a run on the markets, there could be insolvency if tethers don't have backing with fiat, leading to a much larger crash
Thats correct but it's always been like that since decades with banks and fiat money tethers are just a fart in the wind in the financial market

>have $1 in deposits
>loan out $10

where is that mentioned, you absolute fucking imbecile.

Nigger this is the most basic knowledge about how money works. It's not our fault you are underage/a brainlet. Where did you think it comes from, the US Mint? lmao

You are so fucking new it is sad.

en.m.wikipedia.org/wiki/Fractional-reserve_banking

it should be easy as pie to disprove though, so far i have found no resource where they loan the same 10 bucks to 10 different people.

Hey, teenage kid who made ten bucks on BTC. Go read the fucking articles you stupid nigger jew.

Conspiracy freaks are literally worse than redditors.

you're in for a surprise. We get jewd so hart you can't imagine it. It's why bitcoin was made and it's why we should fight together against this system (instead we fight about whats the next 10x coin)

>Most banks are required to keep 10% of the deposit, referred to as reserves.
someone deposits $10, you give $9 to other people, you promise the person who deposited $10 their $10 whenever they want it, you keep a good withdrawal fund that everyone has access to. as long as you don't have a bank run, your bank will operate smoothly and you'll make lots of money.

i came in late but you're retarded, the point of tether is to have a 100% reserve.

Hey, you absolute cretin. That's exactly my post, liquidity is added since the money credited to you is being given to a third party through a loan.

But where does it state that it is given 10 times over, you absolute inbred cretin?

But I thought tether was the real conspiracy?

Salty that their lost their monopoly on printing money

>someone deposits $10, you give $9 to other people
He is literally saying, you deposit $10, the bank lends $100, is nobody paying attention here?

>But where does it state that it is given 10 times over, you absolute inbred cretin?

ITS HERE IN THIS VIDEO ITS ONE MINUTE LONG, WATCH IT
youtube.com/watch?v=-09ap6zIB6I

It's extremely amusing that you don't understand the clip art animated video.

fucking retard brainlet, go back to plebbit

>if it doesn't say ten times over then it's not true
Please explain how the portion I highlighted that explicitly states that the bank has allowed the money to grow beyond the amount issued by the central authority is not effectively creating false value?

I'm sorry that you are illiterate but the highlighted portion explicitly states that the banks are lending out more than they have in reserve. It may not be ten times but it is more and thus false wealth is created.

You are genuinely mentally challenged. Do you see how not a single person has agreed with you in the thread?

Address the highlighted statement and stop going MUH TEN Times because one person in this thread said that you intellectually dishonest brainlet.

If they are big enough whales to actually have an effect on anything, they’ll probably be in the short-squeezing side, not in the short-squezee.

banks do create money out of thin air you fucking idiot, fractional reserve requirements barely even exist anymore

What we are addressing here is the obvious implication that the banks are issuing more money in loans than what they could possibly have in reserve to make an adequate comparison to tether. Stop going on fucking tangents and admit already that you just barely researched all this up and it's an incompetent comparison by an incompetent buffoon and be done with it. Christ, go hug your mom and stop being mad online.

>ignore that I said banks don't create money through fractional reserve banking
>I always knew that

Jesus fucking christ you are giving me a great laugh this morning user thank you

You know what, have a good one, idiot. Tether is a scam and you all will be whipped.

I said the ten times thing here. And it's actually way worse than that. Some banks end up leveraged 20 times and up.

no one agrees with you, just leave already. You're too stupid to understand what people are saying anyway. There is always this one faggot who needs 50 sentences to understand the slightest fart because their brain is not capable of filling in missing information.

I never said it wasn't nigger, I said that FRB creates money. You were the one trying to say it did not and somehow relating this back to tether. Enjoy your own spaghetti logic, my only comments were about FRB. kys

You can't even follow conversations correctly, mental midgets.

I'd weep for my own crippling ADHD if I were you.

Real talk, how old are you? Have you heard of Lehman Brothers?

you fucking retard, tether is a scam just like the dollar is, the only difference is that we are forced to use the dollar at gunpoint so naturally the demand doesnt drop like a rock when the scam is unmasked

what the fuck do you think it is all these ron paul end the fed types have been screaming about all these years? you fucking redditor bugman

Except the fed is 1000x more transparent than tether

You fucking retard, there hasn't been a full audit of the fed since it was created in 1913

fuck off and die

>dollars is no reals
>only buttcoin reals
why are cryptobrainlets so dumb

never forget
>Hitler created a currency backed by hours worked and goods produced; a viable alternative to the Rothschild debt based monetary system
also
>questioning the legitimacy of an historical event can get you thrown in prison in over 40 countries
>the matrix has you, Neo

REEEEEEEEEEEEEEEEEEEEEEE

GO BACK TO PLEBBIT YOU FUCKING NORMIE NIGGER

>muh reserves!
>I-it's new money coming in guys! That's why they're printing more tethers because people are buying them! heh...

Except there is. You can go on their website on fed meeting minutes, positions held and even timing on the QE. The fed chair is appointed by the president. Like central banks may not be perfect but it’s far better than tether

>the state of Veeky Forums
just so you know, if you see someone complaining about "fractional reserve" and "evil jewish banks" they aren't Veeky Forumstards, they are /pol/tards that believe in stupid conspiracies about how evil jew banks invent money out of no where to steal the value out of hard working white men. These people are basically poor rednecks that see rich black rappers on tv and get jealous and think life is unfair

>its da j000z! xDD

abraham lincoln did the same when the bankers wanted to charge him 40% interest for war loans, it was called the greenback

Kill yourself.

Lincoln, McKinley, Garfield and Kennedy were all killed by (((them))).

Alright, Schlomo. That's enough posting for today.

>hehe guiss im not poor bcs I am dumb, its bcss da ebil j00z control da banks and don let me get rich!!