/biz/ - Business & Finance

>>15427105
What?
They still do control it, and they don’t even need to touch their 1m stack to do it.

>>15002506
COPE

>>14928722
If you look at the charts, tether mcap surges before btc pumps. Btc determines overall market trends and tether determines where BTC goes, the tether ponzi is ingenious actually, and tether admits its backed up by BTC and not a 1:1 backing.
>bitfinex “creates” tether out of nothing, literally a keystroke
>tether bots buy up BTC
>BTC price goes up
>bots slowly put the brakes on buys
>bot buys completely stop/stay at 1% power
>btc price stops climbing because the tether buys have stopped
>tether sells the new pump top
>btc market price drops
>rinse and repeat
The entire crypto market as a whole is a illusionary sham and the entire markst can be knocked out in a moment by dropping EMP bombs on miners or tether collapsing.
>my understanding of this situation is there were essentially bitcoins that had no real value
The bitcoins have real value, but that value is far less than it is currently. Tether “acts” as a $USD pairing (hilarious in itself because tether is banned in the USA), that tether created buys up BTC thus raising the price of BTC
>and alot of people are about to get screwed over and the rest get to take essentially "fake money"? Or am I wrong here?
Entire crypto market will fall of a ledge when tether dies, as tether superficially raised BTC’s price, and BTC still determines overall market trends. In essence, tether is the coin that controls all other coins pricepoints.
BTC is only still valuable for its trading pairing for other coins, once thats no longer, BTC drops even more.
Once tether dies people will wake up to the entire crypto market -80% or even -90%. Tether holders will be the most destroyed, tether will be worth $0.