/biz/ - Business & Finance

*Honk* *Honk* faggot

Can someone explain to me why this is a problem? It gets mentioned quite a bit here and I don't understand.

Doesn't this represent fiat currencies that enter the exchange system?

>>25469472
That's a great pepe

>>25469827
It's not a problem as long as they're backed by real assets, supposedly around 75%. How else could one trade against usdt without usdt?

>>25469827
Theoretically every TUSD is backed by a real dollar but that doesn't have to be true. Tether has already been caught pumping out coin without the cash to back it. Institutions like Tether can make it hard to trust the crypto market cause stablecoins are an important intermediary.

guess that means the bitcoin pump is going a little while longer

>>25469827
its not its just salty boomers and shorters on the sideline who are absolutely mad that they are missing out so they grasp back to the thing that made them sell early, tether fud in 2016

>>25469957
i love how coiners hate fractional reserve banking but are ok if it came out that only 25% isnt backed lmao

there are 2 types of anti semites, the ones that hate kikes because their practices are morally unacceptable and the ones that hate them because they arent them. coiners fall into later. all of you should get gassed, at least kikes are open about running a scam, you animals hate the banks but celebrate when people do the same thing on your investment. you should all get executed, unironically worse people than the kikes

>>25470035
Pretty much this.

HONK HONK

>>25470121
go back

They only print Tether to make sure they can keep the peg stable. People think printing Tether = make price go up. Its the other way around, price go up = need to print Tether. If they didn't do this, the price of Tether would lose its peg during bullruns and start to get bought at a premium.

Low IQ no coiners will continue to yell its a scam, as if the entire market was propped up by one company printing fake money.

Tether's assets aren't always fully backed because they are a bit reckless with the speed and size of their printing, so they often get loans or other more temporary backing, which is why USDC is a superior stable coin.

>>25469827
redditor detected

>>25470254
what's the sauce for pic related?

>>25470270
low IQ detected.
>Low IQ no coiners will continue to yell its a scam, as if the entire market was propped up by one company printing fake money.

The entire world is propped up by one company printing fiat monee

>>25470406
cryptowhale
using some signal filtering model different to stock2flow
his twitter's protected now for some reason
he's XRP bull on top of that.

>>25470586
so he posted that on twitter?
i wanna be looking at the same chart. maybe masturbate to it too

>>25470755
just checked, twitter is up again
https://twitter.com/CryptoWhale/status/1332326094603759616

he also got medium blog
https://cryptowhalex.medium.com/

>>25470121
They're actively destroying everyone's wealth and coins are an escape from the trap, seemingly. Can you blame anyone for wanting to use this golden lifeline?
Of course, crypto may simply be a big trap, either the world's biggest rug pull or a path to total surveillance, but what other hope is there at this point?

>>25469827
>Still believing that Tether is backed by any USD.

>>25469827
>Doesn't this represent fiat currencies that enter the exchange system?
you got the meme answers, so now for the truth
no
tether reserves are not audited, were found to be fraudulent several times in a row. bitfinex (= tether) has a history of lies and schemes that goes for longer than before even the newfags who call themselves oldfags came in this forsaken place
i.e. in 2016 they faked a hack to cash out some money, and then paid back their users with monopoly IOU tokens, then added a market to trade said monopoly tokens. so most people sold their IOU for pennies on the dollar to bitfinex itself who got out of its commitment to repay customers that way

>>25470121
i'm a coiner but this anon is 100% right regarding the motivations of most people ITT

Jordan Belfort's (The Wolf of Wall Street) take on Tether
https://www.youtube.com/watch?v=Xzpqxqbq0Jg

Tether is a scam that's going to be delisted shortly. There's only one cure for the upcoming liquidity crunch and if you don't know what that is you're just ngmi

Clown market for a clown world.
*honk*

>>25470254
CURIOUS

>>25470254
It’s almost like when China enforced that period of strict capital control leaving the country the market was red, how bizarre kek

It’s all fake mom, I spent all my time studying how it was bad, researching bread crumbs for 4years I didn’t invest cause it’s all gonna crash soon with no survivors. Says the incel when btc crosses 100k, post your short or stfu

>>25469424
you been posting this since 17k saying it will never make new ATH. hows that shit going?

>>25471575
Jordan Belfort's a jogger why would you take his word on anything

>>25469424
LOL I like this market most people I know sold for shitty 14-16k and crying right now.

Lol, le good ol' tether fud, i still remember you stealing newfags coins in 2016, it still works.

salty nocoiners topkek

>>25473159
this faggot will probably make another post about china centralized mining after it passes 45k

So when is Chainlink going to be used as proof of reserve (POR) on Tether?

Am I the only one thinking/asking this question?

>>25469424
>t. no coiner

>>25473258
What ever happened to bitfinex’ed, he committed suicide? I remember him aggressively fudding btc back when it was 900

>>25469424
If Crypto will go to shit after January 15th, then certainly the exchanges know this, right? There is no way that you or r/Buttcoin has any special information that the big Crypto exchanges don't.

Take Coinbase for example. Why would Brian Armstrong even bother with an IPO if he knows or senses that Crypto market will be dead after Tether collapse (if there is a collapse that it). Why would he even bother with the SEC filings. And Binance too. Why the fuck would CZ just sit there and do nothing if he knows a crash is coming? He can easily rugpull today knowing that the market would be dead tomorrow. But he doesn't. Because he knows he can rake in billions of $$ on the daily from transaction fees. Because he knows he market won't die. Anyone claiming they have more information than the big exchanges regarding Tether is either being delusional or a lethargic devil. So I say relax. Unless the big exchanges start to worry about Crypto, you should not.

Because if Crypto is gonna be dead, then exchanges would already price that in. And if Crypto does not die after the Tether collapse, then what the fuck is the point of the Tether fear mongering anyways?

>>25473545
Exactly and exchanges have the most to lose from a usdt explosion, binance itself would have one of the largest usdt wallets . These major exchanges, worth billions continue to accept usdt, they’ve never stopped even when tether was at peak fud and the peg was broken . These exchanges talk Very regularly

>>25469827
Tether is printed out of thin air and has never been audited or proven to be backed by actual dollars.

Chinks can literaly "mint" as much tether as they want to artificially pump price of crypto up then sell off for real dollars. I cant wait to see CZ and other chink cronies infront of a firing squad

>>25473973
source . trust me bro

>>25474156
Hey chang go eat some bugs

>>25474240
Hey Kyle go fuck your sister

>>25470254
>Ice cream causes warm weather
durrrrr

>>25469424
they're not even trying to hide it anymore LMAO

>>25474308
Ooohh chinks are mad hahahahahaha reminder you WILL be destroyed soon