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/biz/ - Business & Finance

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>> No.11898957 [View]
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11898957

All you guys do is post fake news

>> No.11817746 [View]
File: 71 KB, 1024x641, 1526837549780.jpg [View same] [iqdb] [saucenao] [google]
11817746

>>11817528
Bitfinex and Tether are owned by the same people. Tether is basically fractional reserve banking for crypto. Tether says they have 1:1 US dollar backing for every 1 Tether they issue, and this is a lie. They distribute Tether first through Bitfinex, which they use to buy Bitcoin with to manipulate the price. You see how this works? They make money out of thin air and buy Bitcoin with it when no one else wants it, to make it look like there's demand for it, or to make people think it's the bottom when it's dropping.

Tether is a scam. Exchanges that use Tether are scams. And because the price of Bitcoin has been so badly hyperinflated by Tether manipulation, in practice, Bitcoin is a scam too. Even though obviously it did not begin as one. And since everything else in the market is dependent on the price of BTC, it suffers from the same problem.

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