the tether scandal will hit world wide news and crypto will go below 200 bil marketcap in a flash of an eye.
Not only will it be known that tether has been printing USDT without USD to back it up, it will also be known that they used their actual USD reserve to invest in bitcoin for profit. This crash will liquidate them in the upcoming weeks.
Get out now you have been warned. buy back in march
Other urls found in this thread:
tether.to
support.bittrex.com
twitter.com
no
>muh tether
old and retarded fud, kill yourself
>buy back in march
I highly doubt that the bear market will be late this early.
There's no Tether scandal, also, you are retarded.
and how will this come to light? from the subpoena ?
Aw you didn't sell at the bottom did you
Yeah, except there is no scandal. Only suspicions in the minds of paranoid deluded salty fucks.
Not upcoming weeks, this will come out tomorrow and there's already many insiders who know this, that's why market is crashing...
>FUD that's already been priced in
It's okay to still buy user, no need to fud more to buy lower
Never.
Bitfinex and Tether are solvent and have easily 2B backed.
US has anyway no jurisdication over tether
God people are fucking blinded by greed and in full denial mode, connect the fucking dots you imbeciles, The major FUD campaign hasn't even been started yet. Korea and Japan will wake up and dump starting in about an hour and the FUD will keep running for while and it's legitimate FUD, All of you who are saying people are faggots for spreading the Tether FUD have not given a single evidence to counter the claims made by skeptics. You can attack Bitfinex'd with ad hominem but got nothing to counter his arguments. Jump the ship lads, we gonna fly to the pit.
Shifting the burden of proof
>ishygdds
tether absolutely can't be the black swan because we've been talking about it for months, here, reddit and medium. the subpoena was in December.
remember Korea fud, China fud, pajeet fud. if something triggers a further sell off it will be NEW creative fud, something we didn't see coming at all
You are making up the claims that bitfinex nor tether are solvent.
We can play number games how the wired money for tether and fee earnings will easily come up with the 1:1 backings and you wouldn't care.
Believe your lord and saviour and believe his medium articles, but at least we have come up with some evidence and not random conspiracys
they're shills lmao, probably faggots that sold into USDT to avoid crash and are desperate to not have USDT get removed from exchanges.
Shh you are fucking up his Larp. Bitfinex in a month made enough off of transaction fees alone. Not even including withdrawal fees to cover the tether injections.
>B-b-but not backed by hnnnnnnng noo i was waiting for the dip to buy..
Salty fucking new blood no coiners in here. This dip is following the same fucking trend it has every year jesus. Is this world on an endless repeat of morons who can't history?
>2018
>still spreading tether fud
kys
I know it's disappointing but they are solvent
have 100k >print 100k >sell 100k >have 200k > print 200k > sell 200k > have 400k
You see the problem here? it's exponential and pretty much a PONZI. It doesn't matter if it's backed right now or not, they couldn't have backed current numbers with their initial invesment a few months ago.
It is a ponzi that will kill crypto.
paranoid deluded salty fucks
How will it be exposed? Please explain how it will happen
It doesn't need to be exposed.
When the majority of people believe something, this belief is truth.
OP is trying to keep whites poor, February is going to make crypto history as profitable as fucking hell with XLM, XRP*, TEL, ICX, WTC, LUX, PHR and other fucking great alts start picking up major momentum. OP is a fucking despicable kike.
*Not a great alt, in-fact, the shittiest of them all.
BAAAAAAAAAY DAAAAA DIIIIIIIIIP
STRAY POOR NO CONER
the tether fud is priced in, when we hit 7800 you tards
The subpoena was December, but it wasn't public knowledge till this week.
Bitfinex has been refusing to do an audit for over a year, their auditor just washed their hands of Bitfinex and you somehow believe OP needs to provide evidence?
Wake the fuck up. Bitfinex is going to crash the entire market and it will be far far worse than Gox.
Can someone explain WHY THE FUCK tether must be backed up?
Because it's called USDT and not smth like "stable altcoin"?
I'm tired of this stupidness.
There is more proof of them being disolvent with extremely shady operation that vice versa. Have you ever considered the consequences if you were wrong?
You don't need articles to connect the dots. It's very convenient that they are able to print $650 million worth of USDT just to coincide the futures market shorting to barely keep BTC over 10K? All you brainlets say that Tether is easily backed by 1:1 when there are so much circumstantial evidence that say otherwise yet you fags label us as fudders.
Never touched USDT in my life
total injected fiat is estimated to be 10-12 billion with about 600 bil market cap. And 20% of that money went through Bitfinext and Tether alone eh?
Have fun getting sealed alive in the bunker
only time will tell. I already fiated more than half I suggest you do the same if you've got a brain.
Because the backing of the tethers in actual cash is the premise of the company. It isn’t a crypto. Allegedly if you give them a dollar you can get it back after paying your fees. Tether is a huge scam. Whatever you are buying from binance make sure it goes to a private wallet. All exchanges with usdt are at risk.
Maybe Bitfinex is making such crazy amounts of money that they would rather hide it than show it publicly and paid off the CFTC. They are like the biggest bitcoin exchange after all.
Sage this piece of shit. It's obvious it's either a pajeet who's crying to buy back in or a psyops from a jew dog trying to crash the price, either way fuck off go to plebbit if you want to fud people you sack of shit.
the entire reason that tether is stable in value is because Tether claims to be backing every single tether with a US dollar. the moment that isn't true, there is a finite amount of money (maybe none) to cover each tether that isn't a dollar. value declines immediately.
if tether is found to be a scam and the tether activity that was exchanged for BTC turns out to be false, then BTC and other currencies will correct (downwards) as well
Really you are that stupid, if it wasn't backed by dollars it would just be another shitcoin with an infinite supply. Tether would just print tethers and sell them for USD or BTC till Tether was worthless.
For Tether to be worth $1 it must maintain $1 in a bank account, which of course Tether refuses to audit so they are just printing money, this means the entire crypto market is in a huge fucking bubble based on worthless Tethers.
Connecting dots != Evidence
You should srly consider creating your own state and implementing your dictator ship law understandings. Ridiculous.
Don't you think bitfinex could be a little bit scared to do a full audit for plenty other reasons? For example getting their bank accounts frozen at the same second as an audit goes public. The US has clearly no jurisdication over tether, but the jews can easily freeze bank accounts and kill the whole project.
Because they say so? Lol
It's their claim that it is pegged to 1 USD at all times. But it also says on their website that under any circumstances they are responsible for redeeming your USDT for USD. Basically they wave their wand and print magic monopoly money to give you for your USD but won't trade it the other way. Then they take your USD and other USDT that they can print out on a whim and buy BTC to artificially prop up the price. The BTC bullrun last year is largely attributed to Tether and they had to print almost a billion worth of USDT in January alone during market downturn and waning public interest just to keep BTC on life support above 10K. Without additional printed Tether and the artificial demand created, BTC will inevitably sink and trigger panic sells.
bitfinexed, was terribad at trading, now he keeps spinning the tether conspiracy - nothing else behind that FUD. Just one sore loser and a press hungry for the big news.
the news doesn't even have to hit, the printer is busted. no more tether bucks means no more pumps
Disclaimer: conspiracy started at "Then they take your USD and other USDT that they can print out on a whim and buy BTC to artificially prop up the price"
people are such babies, did you see how much coinbase made last year? They made over a billion and they had to pay fuck load of fees. Bitfinex has double the volume that Gdax has and has shit ton of alt coins. Stop being retarded. Why would they risk a profitable business like bitfinex bound to become even bigger to do some penny change exit scam.
The only thing is Bitfinex is running some type of Bernie Maddoff operation but there's no proof of that and it retarded to think they would exit now.
fud nigger
do you think the 2008 market crash was predicted by no one? it still happened even though a lot of people knew it was going to.
busted as in some world police us office trying to fine someone who is sitting outside their jurisdiction?
The counter argument from the FUD kids will be...to milk you longer.
it isn't a crypto but
>you bought tether 'cause want to fix your gains or losses on the volatile market
>you sold it to another user when wanted to dive into market again
what's the fucking problem I really don't get it.
whatever you think about him Charlie Lee kind of agrees with me
>Tether claims to be backing every single tether with a US dollar.
didn't know, can you proove?
tether has offices in the US and BFXNA as Bitfinex in the US. if it's not backed 1:1 the US can exert muscle to get the foreign bank accounts suspended.
enron was worth billions until it wasn't. volume doesn't mean shit regarding profitability if you're playing stupid games.
>talking about it for months, here, reddit and medium
so basically nowhere
tether.to
>Store, send and receive 1-to-1 backed digital currency across exchanges, platforms, and wallets.
>Tether Platform currencies are 100% backed by actual fiat currency assets in our reserve account. Tethers are redeemable and exchangeable pursuant to Tether Limited’s terms of service. The conversion rate is 1 tether USD₮ equals 1 USD.
it's just not printing any more, i don't know why. but if it really way driving up the market, it stands to reason that it will go down without new tether support.
people made money in crypto because were the first to hear about a new thing, and now that the new thing they're hearing about is bad news they refuse to believe it. you guys are going to feel silly when you knew this shit for months and it becomes world news.
Dude I can’t teach you basic math here. This user has explained it in perfect terms. You can’t get something for nothing. This is the exact thing crypto is going to stop some day. But as long as this plague is here you are not safe. Private wallet dude. And know that stuff you are buying is inflated.
the way that tether theoretically makes money is a 0.1% exit fee when you go from USD to tether, but this is ridiculously low.
>go from USD to tether
meant the other way around, when you turn tether USD into actual US Dollars. but that's a VERY low exchange rate to run a financial business on, and tether has provided *zero* real proof that they actually are maintaining it 1:1 as they say.
imagine if you went to your bank and they said "your money's fine, trust us". but instead of having huge buildings it's just a website, and rather than having the US government insure your deposits, your bank's terms of service state that the exchange of your money in your bank account is never guaranteed and you could be completely fucked if they went out of business with the number in your bank account being worthless.
I don't give a fuck what happens to tether. If it brings things down to 4000 I'll be fucking estatic. I've got 80k ready to greedily gobble up great coins at rock bottom prices. Please dip to 4k, please dip to 4k.
ah, thanks.
ok, then it makes some sense.
if not the claim that it is backed there still won't be a problem since people would knew that some day probably noone will buy their tether but it still would be an instrument to fix your folio...
I don't care really, the market crash doesn't scare me 'cause I'm accumulating. may be even a better chance for me
support.bittrex.com
>Bittrex allows for the purchase of USDT in the amount of $100,000 USD or greater via wire transfer. The wire transfer process requires that your Bittrex account is Enhanced Verified, and you provide us all the necessary information on the wire transaction in order to process it.
>Wire Transfer Details
>Wire transfers are processed starting at 4PM PST after all incoming wires have cleared for the day.
>Wires are processed using $1 for 1 USDT (Tether).
Because $2billion+ of money (not meme market cap) is then entirely missing from the market
I guess at least theoretically they'd make all that interest on their humognous bank balance.. that is, if there really was such a balance.
tether being a "scam" (either no money or less money than 1:1 backing it) would depress all coins, but that would likely be more than an initial crash. one of the really appealing attributes of tether is that it allows non-US residents who would normally have a very tough time parking their money in USD (due to international finance laws) to do so in a way that is easy to get in and out of. the ease of using tether drives a lot of trading in the coin markets that wouldn't otherwise exist, because it greatly reduces the uncertainty of trading coins if you know you can park it into USDT and just trade out at any given time.
still, I'd agree - I'm totally nocoin at this moment and I wouldn't buy back in until Tether either provides adequate proof that the whole thing isn't a sham, or they implode and the market corrects properly.
this too. if tether was making more tether like crazy (5x the amount since the audit that wasn't in september 2017), then a lot of BTC and altcoin activity would be based on a lie (that the USDT was worth $1 when it was traded), which would result in a severe subsequent correction of the entire market.
>pseuds still fall for the tether fud
sage
>no tether scandal
>massive tether prints out of nowhere
>immediately followed by instant giant pumps
"i-i-it's j j j just people moving in to to to tether as the price d d d drops"
>tether subpoena goes public
>tether's relationship with auditor breaks down
>massive drop beyond all the others
>hits new two month low
>no tether is printed
>no bump
what happened to all those people who paired with tether during drops then?
actual state of delusion on here. you deserve to lose it all. conveniently.
>The US has clearly no jurisdication over tether, but the jews can easily freeze bank accounts and kill the whole project.
Bitfinex doesn't have access to banking and haven't had had access to banking in the last 6 months, during which time they printed almost $2 Billion tethers. Also they're not based in the US so the kikes can't actually do anything to them.
All I’m saying is if you, like me, are one of those people like me that wants alts and is stuck on binance because it’s a bitch to get verified on other exchanges, cop your alts now and store them because everywhere you see that has that tether sign is liable to go up in smoke.
>I guess at least theoretically they'd make all that interest on their humognous bank balance.. that is, if there really was such a balance.
the last part of your post is the big question of the day. tether has always claimed that they will provide proof but has not provided proof that they actually do.
the audit that wasn't in Sep 2017 relied off of incomplete documentation supplied directly by Tether (where the auditor did not have the capability to adequately verify Tether didn't just photoshop a bunch of shit or that the records were in any way real).
as part of the tether lawsuit against wells fargo (dropped) it was proved who they (allege) to bank with, even though it wasn't part of the september 2017 "audit"
>Hwatai commercial bank, Taipei City Taiwan
>KGI Bank, Tiawan, R.O.C
>FIRST COMMERCIAL BANK, TAIPEI, TAIWAN
>stob FUD
A whole 2 billion out of 400 billion. Im shaking in my boots. Tether needs to die. RIP
Part of the problem is that USDt provides a relatively liquid alternate coin that makes it easier to park the value against something that is (allegedly) pegged against the USD without incurring international bank hassles, delays, fees, etc...
In other words, you can't measure the value of tether being on the market as being the market value of tether itself. As a medium of exchange to make transactions of every coin easier and subject to lower transaction fees while providing a stable place to store value without massive fluctuation, it has a much larger impact on the market than the amount of it that exists.
>400 billion
oh wow yet another genius can't tell difference between market cap and liquidity
let's say i have coins on binance and binance blows up because of tether, i will still be able to withdraw my coins, right?
what would happen to my coins?
This was already on television two days ago you moron.
desu the exchange would probably try to run off with the money first
>binance blows up because of tether
why would it blow up because of tether? your tether will just go to 0 and that's all
binance have no actual money anyway
the only exchange that can exitscam because of tether is bitfinex
DOn't worry guys, Tether have officially cleared it with me, and i have 5million in BTC so they wouldnt lie to me