/biz/ - Business & Finance

>>23895286
when is the fed going to stop them

>>23895286
WTF
In 3months? How is this legal?

>>23895311
I am literally scared right now. In 2017 we had 2B tether and a lot of fud. Now we have almost 10x that amount and no one talks about this!

Print more u fks

>>23895346
Who the fk knows. Tether right now is not backed by usd but by BTC/USD/GOLD/LENDS. So basically they pump bitcoin. Normies go in buy at all time high. Sell the bottom. And they exchange their fake money wiht real normies money. Thats their plan..

>>23895286
Retard here
How does it even hold its value if its printed out of thin air

>>23895405
WHO cares as long as we can dump on normies I am good

>>23895286
u talk like a redditor. so fuck u nigger

>>23895406
For now it holds it's value but I remember the fud from 2018 when tether was worth 0,70$ . It's like bitcoin ppl believe that tether is worh 1$. When they stop believing it goes to 0.

>>23895286
>trusting chinks to not be shameless thieves
lol

>>23895521
yo fk reddit, this I hate it there. Bunch of fucking pussies

>>23895286

It is difficult to get a man to understand something, when his salary depends on his not understanding it.

No one here is going to care because Tether makes all other cryptos move up in price, for now.

>>23895536
if that happens the ones with the most to lose would be the ones holding tether, not bitcoin

>>23895286
>ain’t gona

>>23895622
>borrow Tether on AAVE
>exchange for BTC
>wait for Tether to collapse
>keep BTC

can someone explain tether for me
why invest in it if it's always $1

>>23895862
go back to school kid, this shit ain't for you

>>23895888
i'm asking bc i want to learn

>>23895622
yea but imagine all the people with profits in usdt on binance futures

>>23895553
sure buddy

>>23895898
this board is 18+ do your parents know you’re on here?

>>23895912
I personally swap to BUSD as soon as I can

>>23895286
>Nov 6 - $17 billion
lol. buddy wait till you hear what the federal reserve has been up to in the last century

tether crashing would lead to BTC pumping as everyone dumps their tether and other stablecoins for BTC

>>23896058
I hold some crypto but I literally cannot buy more because I feel like we can dump -50% and second. This tether is kinda pissing me off. I want normies.

>>23895898
https://www.investopedia.com/terms/s/stablecoin.asp

>>23896101
Use a different stablecoin?

>>23896058
Not sure, if people feel insecure about the market it may crash also. If usdt is deamead as a scam we will have to run to some safe stable coin, like usdc. It is audited. Just hope exchange aren't dumb enough to not protect themselves of usdt collapse. Remember what happened when people lost trust in mt.gox, prices collapsed. If people lose trust in exchanges same will happen again.

>>23896058
who's selling BTC for tether if it crashes? there would be a liquidity crisis and rush to exit crypto

>>23895286
>Normies are not in? This shit ain't gona end well...
mongoloid here. What does this mean?

>>23896144
No I ment that we pump because of tether. tether printing billions of Dollars=fake bull market Last bull market was caused by normies...it was more natural. Now I don't know what will happen. We can either go to New highs or dump again to 10k when they stop printing this shit

>>23895347
>Now we have almost 10x that amount and no one talks about this!
why should they?

>>23896224
I have part of my money in savings of usdc, they earn me 5 apy. What strategy can we have if usdt really collapse? I am really wondering that now. I can't cash out in realmoney fast.

>>23895311
Nigga... they ARE The fed. How new are you?

>>23896267
Is it really so hard to believe that the supply of tether reflects growing demand? $17B really isn't much in the world of finance

>>23895286
haha money printer go brrr

SHIT SHIT SHIT FUCK FUCK SHIT FUCK
I AM SCARED NOW
CAN WE SEARCH FOR USDT THETER AUDIT ON GOOGLE AND FIND THE LATEST NEWS ON THIS SHIT? CMOM ANONS LET'S DO THIS SHIT, ONLY REAL CREDITED SOURCES.

>>23895406
wait til you learn about the Federal Reserve

>>23895286
>he doesn’t know fed is behind tether

>>23896293
taking down tether would basically be a huge attack on crypto, there's no way to know what would happen. if it becomes apparent that usdt does not = $1 then they're literally worthless, good luck buying anything with them
but it almost seems to big to fail now

>>23896267
last bull market was tether driven too, do you actually remember?

FUCKING FUCK FUCK FUCK
https://en.wikipedia.org/wiki/Tether_(cryptocurrency)
>Tether Limited has never substantiated their claim of full-backing through a promised audit of their currency reserves

>>23896321
>growing demand?
who does require thether to buy btc?

If usdt collapses, some one goes to jail? How can someone know if this shit is real?
https://wallet.tether.to/transparency

I don't want to make my bot trade in usdc, it will lose a lot o profitability....

>>23896437
iirc they're based out of puerto rico and somebody traced growth in the PR economy of a similar size to tether
it's still smoke and mirrors

Puerto Rico becomes a state and adds the electoral votes the Democratic Party needs to gain dominance forever.

>>23896437
I think they had some sort of quasi audit and were 98% backed or something

>>23896965
it's backed by "cash and cash equivalents"
"cash equivalents" probably includes btc. So they print tethers backed by btc to buy btc (probably with leverage) to prop up the price of btc so their tethers remain "fully backed"
Seems legit

SELL YOUR BITCOINS NOW SELL THEM AAAAAAAAAAAAAAAAAA!!!!

>>23895405
Exactly. Everyone on biz and even crypto twitter and Reddit isn't exactly huge from a numbers perspective. CZ and his band of elite insiders need to turn these magic computer dollars into cold hard cash, and the only way to do so is huge liquidity coming in. Normies have been and always are the end goal, and after they got away with 2017 did anyone really think they wouldn't do it again? That's why I stayed here, I knew another golden bull was coming and this is it. Unfortunately it isn't real, and at some point the music will stop so I'm going into this thinking this may be the last time we bull. Thankfully I just need one more 10x to make it after 3 years of slinging shitcoins so good luck frens, take fucking profits this time and never look back

>>23897047
That can't be true man, I used to not have money a small exchange that traded realmoney in 2017 because of this bullshit of usdt. Now this shit again.

>>23895286
one fake token pumping another fake token
only retards would hold any btc now

>>23895346
It's fake money. What's illegal about it

>>23897094
I fucked up, should have made a bot earlier... lost money trading after the crash of 2020. When it crashed in 2017 I had 3x my money with LTC, now I almost earned nothing, shit is sad, I lost my trading skill from 2017 to 2020, I completely stopped trading, now I am ok, but took time for me to relearn things, and now I made bot also.

>>23895286
am i witnessing tether fud in 2020 omfg im laughing out loud

>>23897094
Btw what is the next 10x you are betting?

>>23895862
You are a fucking retard. Just HODL all your gain away nigger

>>23897068

>>23895862
Look up stable coins ...

>>23897209
You're still somewhat early anon, the real party starts after we close above 20k. Don't think about what could've been, focus on where you are now and what you can do to progress from here. As for the 10x I'm looking at Tellor

guys this feels more like 10d chess prior to 4d chess. WHat the fuck is happening. On one hand, I could understand the "elite" of crypto trying to use a jewish trick to accumulate more, but on the other hand, perhaps they have already done it in the last 11 years since btc has existed. We all know that normies are gonna stay priced out forever sooner or later...

>>23896655
What bot do you use?

chang here
changs in China are buying USDT to circumvent the capital restriction, so it's expected that Tether is printing USDT like a mofo

>>23895347
>I am literally scared right now. In 2017 we had 2B tether and a lot of fud. Now we have almost 10x that amount and no one talks about this!
>>23895553
>yo fk reddit, this I hate it there. Bunch of fucking pussies
kek

>>23897313
Do have a solid reason? The OBV looks like it will keep going lower.

My bot is a crappy one (although it works), I can only trade one pair at a time, so to use it in a shitcoin if would lose the BTC sure pump. Anyway, if I find a back-way I would be betting in NNK, BAT or ALGO, with my bot. But I would wait for the OBV to start raising, it really looks like it is falling, I feel money is coming out off shitcoins to BTC, this rally doesn't make much sense for me, hash rate is fucked up and XAU just dumped.

>>23897209
What bot do you use?

>>23897509
Thanks for the info Anon. How are things in there, the lock downs are on or off? How do you feel in the streets, many people or not too many? I used to talk to friend in wechat before the crash, them I got banned out of nowhere from wechat.

Btw, Can you back your claim? Are you talking about what kind of person using USDT ? What quantity of money they are buying in USDT?

>>23897593
It is a platform that accepts trades with e-mail orders, my bot sends the e-mails. But the right way is with PythonBinance, I don't have time to code a bot in python right now.

Normie here
Just to tell you no obe will ever ever fall for this crypto ponzi scams again so this pump its totally fake and gay

>>23895311
The Fed is going to hire them to print the digital dollar.

>>23897686
go back fgt

>>23897662
the economy is in the shitter (but so does the rest of the world lol). it's mostly rich families etc. seeking to move as much stuff offshore as possible. t/ chang who works at an OTC desk

>>23897698
check'd 4 +'s in an ID

>>23895286
You idiots have been saying this for YEARS.

Just get in and get out.

Bonded Finance on Sunday.

>>23898859
welcome to my wordfilter, nigger

>>23897698
++++ The Fed is going to hire them to print the digital dollar. ++++

>>23895286
Tether prints money for people who want to buy BTC OTC, they get paid $300 million or whatever, print $300 million and buy BTC for whoever paid them.

“Fake dollars”

Last year there was a moment when tether shitted the bed. Huge green dildo followed by huge red dildo

Let me give you a piece of advice from what I’ve seen first hand, tether is great for individuals and entities that want exposure to usd without as much of the kyc bullshit necessary if they went through traditional means, especially in uncertain times, it’s not all going directly into btc

Tether is the US Treasury, don't you get it yet? USD-T Treasury

>>23895286
Bullish for DMG and the DMM ecosystem.

>>23896267
>tether fud in 2020
you’re too fucking stupid. you will always be poor.

FYI, tether is a fairly clever counterattack to the bitcoin price suppression of the futures markets. Of course it's fraudulent, but so are the derivatives.

That is the ultimate purpose of such financial instruments, they are effectively counterfeiting to suppress anything held as a "store of value". This is done at the direction of government, this was how they went after BTC while they studied other lines of attack, e.g. fedcoin.

This is the exact same way they deal with gold.

>>23895286
What are legit Stablecoin alternatives? Would prefer Euro too instead of Dollar based ones

>>23896321
Do you seriously think that fucking Tether holds 17 billion USD? Are you fucking retarded or something? For example Ford has 30 billion USD reserve and they have steady stream of income. Tether has literally shit.

>>23898981
And there is no way to verify this is actually happening. That's the problem

>>23899744
They’ve been audited before up to a few b and they’ve been taken to court several times, if they really didn’t have shit the sec would’ve already got them, pax is audited same as usdc both have been around much less time. it’s not difficult to believe tether has 17b

>>23895286
Can someone patient explain to a brainlet?
Say I go on coinbase and I send over $10k (real USD) from my bank and then proceed to buy bitcoin for it. The person who sold me the bitcoin now has $10k real USD in his account, that he can withdraw to his bank account.
Now say that another person logs on to coinbase, he has 10k USDT. I put in a sell order for my BTC for $10k.
Does he then have to first swap his USDT to USD and then he can buy my bitcoin with the USD? Or can he use USDT to buy my bitcoin, but coinbase will swap it for USD as part of the transaction and give me $10k USD?
In any case, am I wrong to be of the understanding that I will end up with $10k real USD that I can move back to my bank account? It seems the only one taking any risk here, ending up with potentially worthless USDT, is coinbase?

>>23899848
coinbase uses their own USDC and not tether (USDT)
so you have to give them USD to buy, or buy their USDT somewhere like uniswap and move it over to coinbase

>>23899744
Ford also has costs. Tether supposedly has the money people have given them in exchange for USDT. Is your claim that:
a) There's no way people would have converted $17b to USDT, or
b) Yeah people have converted $17b to USDT, but the tether guys have probably run off with it?

>>23899868
Right, but if someone does move over USDT to coinbase and wants to buy my BTC with it, does coinbase let them do that (and do something to convert it to USD under the hood) or will they first have to find a buyer willing to sell USD for USDT, and then they can use the USD to buy my bitcoin?

>>23899908
i don't think coinbase accepts tether USDT at all
if you had USDT you'd have to go to uniswap and convert it to USDC (since they run USDC) for coinbase to accept it
they take USDC since it's in-house for them and they know 100% it's backed by real USD

BBRRRRRRRRRRRR

>>23895862
It's not for investing, it's supposed to act like a dollar when trading crypto.
Think about a smart contract. Moving around different cryptos between wallets is easy peasy, they were built for it, whereas accessing real bank accounts with real dollars is much harder. Thus the invention of a crypto currency that /supposedly/ is backed 1:1 by real dollars, so that you can let your smart contracts work with dollars in crypto wallets and when you want to cash out, due to the 1:1 dollar backing you can just do that from the tether reserves. Such is the theory, as I understand/presume it. I have never used it myself.

>>23895406
Ask the fed

>>23899926
Ok, got it. So then the person taking the risk would be the person trading some USDC for USDT on Uniswap. That's the potential sucker/bagholder that this thread is worrying for?
I'm just trying to figure out who would end up holding a bag of worthless (if it turns out it isn't backed) USDT. It doesn't seem to be bitcoin holders.
So the point of the fud, from a btc perspective, if I get things right, is that the btc price is a function of how many dollars are being continuously thrown at it. If a portion of that stream of dollars that are used to buy btc every day turns out to be fake dollars, they would be removed from the stream, and so the number of dollars per day used for buying btc would be lower, and the price would go down.
But this doesn't reflect that tether is just a means for buying btc. If USDT went bust, people would still be as eager to buy btc, they would just have to use other means than USDT to do it. So it wouldn't tank the btc price.
Unless, and I guess this is the allegation, there aren't that many people that want to buy btc and convert their USD into USDT to do it - rather, tether just pretends that's the case and prints up USDT without anyone sending them dollars, and use those USDT themselves to buy bitcoin. Because then, yes, the stream of dollars used to buy btc every day would be reduced when they were found out, because they wouldn't be able to do it anymore. Is this what the fud is really all about? Because I have never seen this described in detail so that I could conclude that this was the point of contention.

>>23899797
They haven't done any real audits. The only audit they did was hiring some dodgy Chink law company that doesn't even specialize in audits and called it a day. Not to mention they changed their ToS in March and started printing since then. New ToS also says you can't file any lawsuits against them.

Tether suppresses Digital Yuan until DUSD is out.

>Still believing Tether FUD in 2020

>>23900748
/thread

This is so fucking bullish for DAI

>>23895286
They're about 200 million away from 18 billion now. They don't even pretend anymore.

>>23901001
>he bought?
>load tze thether fud again

>>23895347
>this shit is at least concerning
>shut up you schizo
this is exactly like 2009 kek, everyone wants the music to keep playing so they wilfully ignore the warning signs

>>23895286
is tether connected to any central bank or is it its own entity?

in a related story USDC is going to be the digital dollar right? i assume so bc of the Coinbase/Circle/Algorand/Stellar connection

>>23897221
Its good fud.
Heres the truth
Tether is minted to keep the value pegged at $1. Green ticker is print.
Red ticker is burn.

Ah, tether fud. You’d think it’d get old, but I still enjoy a nice hot cuppa every year, it seems.

*sips*

You know what? I think I’ll buy some more today

>>23897221
>>23897221
>>23897221
>>23897221
>>23897221

Willy bot pumped BTC on Gox but crypto was dying after it went down. Tether was a way to save crypto by doing the same thing as Willy bot but on multiple exchanges

>>23900125
>New ToS also says you can't file any lawsuits against them.

Lol
Okay it's just Tether FUD memes

>>23895286
Based, print more. Pump my bags.

>>23896024
>lol. buddy wait till you hear what the federal reserve has been up to in the last century
What has this got to do with anything? Does tether have a large military force which retains the dominance of the coin? No, so shut the fuck up.

>>23901199
>Constant warning signs for years
>Nothing happens
>Nothing looks like happening

This is exactly what the fed does why are you so surprised?

>>23899227
>Bullish for DMG and the DMM ecosystem.
why? they are scam

Tether is about to cause the most catastrophic rug-pull in human history.

https://www.youtube.com/watch?v=bFVK9SxKR5c&ab_channel=GoldSilverPros

https://www.youtube.com/watch?v=qzDjJ-SrojY&ab_channel=GoldSilverPros

Recent information on tether lawsuit:

https://www.reddit.com/r/btc/comments/jrr3ny/recent_fillings_exit_the_ponzi_playground_at_all/

More information on Bitcoin:

https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7?gi=63d0d0ef554a

https://www.youtube.com/watch?v=XfcvX0P1b5g&ab_channel=BarelySociable

>>23901787

As of today, seven-day annualized printing-rate of tether is $38 billion per annum.

I suspect that the CFTC knows that tether is a scam, but they won't audit it for the same reason that they won't audit the COMEX. Crypto is an Adam Back/Blockstream-created ponzi to split the anti-fiat community. The COMEX already would have gone bankrupt if our efforts had been fully concentrated on silver during these past ten years. Once fiat collapses BTC becomes priced in gold, and all crypto (as being the fruit of the poisoned tree) immediately goes to zero.

"To overturn the history of gold is wishful thinking. Fully backed Gold and silver substitutes and circulating coins are practical and acceptable for 7bn transacting individuals. BTC will then have no role and sink to zero priced in gold." - Alasdair Macleod, 8 November 2020

>>23895286

>>23899636
>Of course it's fraudulent, but so are the derivatives
Silver derrivates too? They are not correlated with the price... I mean if they short the paper doesn't mean the spot must follow.

>>23901787
>>23901798
I agree with this guy and said this when they did the first massive print event that doubled the supply in april

I think it is fair to say the Tether company doesn't have even 10% of the liquidity backing what they are providing and will default in a nanosecond if there is another black swan correction and they circulating tethers get cashed out (we are literally on the verge of a double coup in the US with a CCP backed and funded election fraud president-elect)

I think the entire cryptosphere will feel the fall of tether, especially Boomer coin

>>23897047
Cash equivalents is most likely money market funds. They're essentially buying debt with the dollars they hold in reserve. That debt is guaranteed by the US Government though so it's safe.

>>23899636
You're the first person other than myself to point out that BTC is going to get the precious metals monkey hammering. CME is the biggest threat to crypto.

is tether profitable? what's their endgame?

>>23902167
unironically #1 btc holder

if they slowly accumulate btc with "printed usd" then btc actually becomes scarce enough that they're super super rich.

if tether fucked off i would invest a little in to bitcoin. but no one in their right mind should be buying it with them around

>>23902214
is that actually true or are you just assuming? I thought exchanges held the most BTC

>>23901900
>I think it is fair to say the Tether company doesn't have even 10% of the liquidity backing what they are providing
source: ???

>>23902167
you walk in to the store to buy bitcoin, but they only sell to you if you have USD. You think shit... i dont have any. maybe if i create a coin called Tether, i can tell them I have USD at home, but this tether is tied to it.

without checking they say OK, you can buy $17billion of bitcoin with your tether. we trust you have cash reserves at home.

so now you have purchased $17b worth of bitcoin, for free, and also driven the price up. as normies start pumping in real money, you transfer your bitcoins to another local bitcoin store, and sell them there for USD. now you have $17b worth of USD

>>23902263

Even in 2018 the only audit which tether ever had (a poorly-done one) said that tether was backed by "75% cash and cash equivalents." The mcap is now 20x larger.

>>23902259
no-one knows really except tether

but suspision is that they're not really backed by much USD. maybe alot of crypto too.

i dont think its too bold to assume they want to whale btc when they have right to print free money essentially.

>>23902263

Even in 2018 the only audit which tether ever had (a poorly-done one) said that tether was backed by "75% cash and cash equivalents." The mcap is now 20x larger.

>>23902263

Even in 2018 the only audit which tether ever had (a poorly-done one) said that tether was backed by "75% cash and cash equivalents." The mcap is now 10x larger.

>>23902346
damn imagine being a head honcho at Tether and just printing some money for yourself whenever you want

imagine being a billionaire and walking in to the tether store to buy 1billion tethers and then buying some BTC on bitfinex with it.

lmao do people really believe this happens?

>>23902409
>lmao do people really believe this happens?
bulls do

>>23895286
>>23895347
>>23895405
>>23895536
>>23895553
>>23895888
>>23896101
>>23896267

>>23895286
it will fall any moment now desu
imagine buying at the top before the bubble pops

>>23902366
>>23895286
the chart is very misleading tho
they never printed multiple billions in one go cmc just failed to report it

>>23895286
maybe they got that much in USD in deposits you boner brain. go check the kleros courts if you have a problem

>>23903153
In 2018 they admitted to being down 75% in dolle reserves, they’ve printed fuck loads more since then.

>>growing demand?
who does require thether to buy btc?

>>23897094
this is the correct answer
imagine thinking the 2017 bullrun was legitimate. bitcoin would have never broken past $1000 without tether printing

>>23895286
proof of reserve for USDT when?

>>23895406
just like gold after expanding goldmines
the perception of its value is the same
Price is just what people decide it is. That is all.
Ofc some other factors like supply demand, etc.
Answer then is that they are either holding the money, or the market is growing fast enuff. But it wouldnt be as hard of an impact due to the perception.

>>23897221
>>23900748
>>23901001
>>23901371
>>23901447
I like how nobody can ever explain in detail why it's not a concern, they just say "FUD!"
This shit is too big to fail at this point and probably a government operation anyway so I'll ride this scam all the way to $1MM

>>23899736
USDC

>>23899636
This is bigger threat than any other. Even tether fud is weaker than this.
Derivatives allow you to long and short without ever touching the real thing. It's an abomination and should be outlawed, but here we are.

>>23904703
because there is no counterargument
USDT is probable the most obvious scam in history but it's making a lot of holder virtually rich so they will defend it

>>23896144
>Not sure, if people feel insecure about the market it may crash also. If usdt is deamead as a scam we will have to run to some safe stable coin, like usdc.
>>23896101
>>23896058
When Tether dropped to 70 Cents alts all pumped a massive surge as people panic sold tether for every alt they could get. This has all happened already and tether is still fine. Newfags need to lurk more before they post their opinions.

>>23899848
>Does he then have to first swap his USDT to USD and then he can buy my bitcoin with the USD?
Yes. You are trading on the pair BTC/USD so USDT wont work. This isnt a hard concept people stop being retarded brainlets. If you sell BTC for USD can someone give you ETH? No obviously you arent selling for ETH.

>>23902054
Cosco isnt the same as costco chang.

>>23895286
don't care. The only people who will get rekt by tether collapsing are those in tether.