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17159379 No.17159379 [Reply] [Original]

I reckon we will see a record amount of Tether printed and other stablecoins. I mean, how else are you going to keep your gains intact? The 2017 sell off was fast and happened within days.

Also, do you believe Tether is backed or not backed by "real" money? Do you see Tether collapsing?

>> No.17159396

>>17159379
At least 2 billion will be printed.

>> No.17159417

>>17159379
>wow tether fud you are so wise you are the first person to think of this no one has ever misunderstood how tether works before
take a lap faggot

>> No.17159419
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17159419

>he sold?
>print 1 trillion tether then boump ity

>> No.17159435

>>17159379
They admitted in court they're not fully backed. 70 percent something because Crypto Capital shit the bed and got their funds confiscated. Maybe some portion of the rest is backed by dirty money or fucking bitcoins or nothing at all. Who cares, nobody cares.

>> No.17159461

>>17159435
Banks are only 10% backed. Fractional reserves

>> No.17159485

>>17159379
>do you believe Tether is backed or not backed by "real" money?
it was only unbacked for a short time, now its back to being 100% backed.

>>17159379
>Do you see Tether collapsing?
never.

>> No.17159492

>>17159379
Tether is absolutely a scam. I can’t rationalize the crypto communities arguments
>The FED prints money all the time! US dollars are backed!
Didn’t people get into crypto to get away from this type of shit? Except Tether isn’t regulated and doesn’t adhere to anyone. They’ve really kicked the hornets nest, expect the house of cards to collapse

>> No.17159513

>>17159379
The USD is printed out of thin air too if that makes you feel better OP.

>> No.17159525
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17159525

>>17159379
how is tether supposed to officially work? whales don't want to use real fiat markets due to inherent inefficiencies compared to blockchain so they just put USD in a trusted bank then have that bank authorize the minting of an equivalent amount of tether, is that the idea?

>> No.17159547

>>17159379
What about Tether Gold?
https://coinrivet.com/what-is-tether-gold-xau₮-how-it-works/

>> No.17159693

>>17159525
That and massive interopability and liquidity between many USDT based exchanges. It convenient and fast, especially many exchanges don't want to deal with fiat. Also used in evasion of capital controls in China/Russia and maybe money laundering or even some darker shit. It's shady as fuck but hey, as long as it works and maybe pumps the market nobody complains.

>> No.17159769
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17159769

>>17159693
i see thanks

>> No.17160116

We have until summer 2021 until this shit storm blows Tbh

>> No.17160143

>>17159379
Imagine, there will be a day when this can actually be smart contract driven thanks to LINK. You won't have to trust some scammy third party with their hand on the PRINT button.

>> No.17160162
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17160162

>>17159379
you will never know

>> No.17160166
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17160166

>>17159379

>> No.17160241

>>17159769

XRP's yarmulke is a nice touch