/biz/ - Business & Finance

>>25987979
>we expect it to continue working well in 2021 as the printing presses continue to run hot,

>>25987979
yikes

>>25987979
Tomorrow is going to be a dumpster fire

>>25987979
LMAO HOLDERS BTFO YESSSSSSSSSSSSSSS

>>25987979
So they just openly admitting it now?

So what happens when it turns out that Tether doesn’t actually have the amount of assets on hand that they claim to? Because I refuse to believe they have $20,000,000,000 worth of anything lying around, added to the fact that they money printer is still going brrrrrr.

>>25987979
OMGNOOOOOO WHYYYYYY WHY ARE YOU SOOO DUMMMMBBB TETHEEEERRR

>>25988260
USDT holders*

That basically means that even if Tether wasn't 1:1 backed back then, now it is like 1:4 backed by USD thanks to buying BTC at 9k. LoL

>>25988440
cope

>>25987979
dare i say
its happening

>>25987979
FUCKING KEK WHAT COULD POSSIBLY GO WRONG

My USDC is still safe right?

So how far realistically can Bitcoin go?
Is 10k possible?

Is it time to tether up..?

oh wait...

>>25987979
a ponzi scheme on top of a ponzi scheme

Is my DAI safe? Holding out preparing to buy the dip tomorrow.

this is fine.

wait so tether is backed by bitcoin and bitcoin is backed by tether lol wat

retard reporting in

aren't there projects like defi? that loan crypto or whatever? I'm learning about this shit. can't they help deflate or delete money or somethin?

i want to learn how economy werks

Stunning and brave.

>>25988703
youve been told for 3 years

>>25988703
Also should I short BTC? How low will it go realistically? Back to 4 digits?

>>25988703
It’s called a scam

The mean the fiat printing presses lmao you guys are desperate

You had 12 years!

Bullish for not bitcoin

it won't fall you can screenshot, bitcoin will go passed 40k by eow

>>25988703
You can go to Kraken, Coinbase, Bitstamp or any other "legit" exchange and sell your 1 BTC for 39k USD and 1 USDT for 1 USD. As easy.

>>25987979
priced in
send it

>>25988918
Not tomorrow.

>>25987979
bullish

>>25987979
i don't get it if some of the tether is backed by bitcoin shouldn't tether trade above parity with the unbacked shitcoin usd?

How come Tether fudders never post their shorts?

What time tomorrow?

>>25989024
because they would get printed on

>as the printing presses continue to run hot,

lmao

there are so many fucking sell signals coming from tether the last 2 weeks, you would be an idiot to hold any longer

they forgot to mention that tether also partially owns the bank LOL

>>25988457
it means bitcoin is artificially pumped by worthless tether being printed and injected into the market

its like quantitative easing for bitcoin

>>25987979
What the actual fuck?

>>25988891
nothing will happen tomorrow, but as the scam is unraveled, the market will be destroyed, liquidity will literally disappear

will eth be ok

>>25989024
Because it's a fucking amazing scam, it could go on for years, but it's still a scam

>>25989184
If that is true they would have sold their BTC for USD in time and if so their Tether is fully backed.

>not even the safe haven is safe
world economy collapsing tomorrow lads

>>25988371
Cease and desist.

>they'll just refuse

Ever seen Miami Vice anon? The feds will kick down your down and shove a gun in your face.

The circulating USDT supply is a USD-denominated liability on Tether's balance sheet.
On the asset side, they have stocks, BTC, loans, etc.
They basically leveraged shorted USD against their reserve assets. In an environment of historic devaluation of USD against assets.
Nocoiners seething that they made a huge profit with the reserves instead of leaving it sitting in USD exposed to seizures.
Kill yourselves you poor pathetic nocoiners.

>>25988796
Nah maybe set stop losses and hold your crypto in an exchange that doesn't use tether

“The companies are currently under an injunction to cease any further loan activities between themselves, though this injunction is set to expire on Jan. 15.”

So in other words, if no FUD comes out tomorrow then literally nothing happens except it’s easier to print tether now.. CMON SEC end it already

>>25989304
don't you see the problem? it means that the demand for bitcoin is artificial, its not being driven by customers trading dollars for USDT then buying bitcoin, its being driven by USDT arbitrarily printing and buying BTC with their own fake money

>>25989314
Do you even realize how deranged and schizoprenic you sound?

So they're basically saying tether is innocent

why is this bad

>>25987979
he thinks his personal bank isn’t investing his money in equities, kek especially now yields are so shite

>>25989362
how is it any more “fake” than what banks do with usd
>>25989363
dilate

>>25989431
His personal bank doesn't issue him tether when he deposits money in the bank account, it just sits on his bank account, don't you see how this is different?

>>25989024
that would mean they have money to begin with, it’s always the broke boys Thatre seething, you never even see any respectable cryptohead dev fudding tether

>>25989362
Tether cannot print USDT and buy BTC with it unless there's real demand for USDT. Otherwise the excess supply of USDT would crash the price below $1.
Tether doesn't have a magic money printer that can break the law of supply and demand. That's retarded.

>>25988628
100k? Yeah, probably 2022

>>25988628
>>25988703
>>25987979
Isn't 60% of ETH held people who use Tether too? This is going to be amazin

The IMF / ECB Head has also released FUD On BTC today. It's fucking over. Drop your bags now or die

https://news.bitcoin.com/ecb-christine-lagarde-global-bitcoin-regulation-btc/

Coordinated attack on BTC by the globohomos

>>25989362
Depends on how market will react if true (which I doubt, and even if true it will not be released tomorrow). Mb it is fully priced cause whales know this shit long ago.

Time for Paxos Standard?

>tether 4x ed the amount of collateral they hold
>tethers are backed by nothing
pick one fudders

>>25989581
Normies are going to eat these FUDs right up tho. Just you watch

>>25989363
Anon... you don't know how to finances works.

>>25989479
They give him a promise he can fake it out at anytime, but we know that’s not true due to past bank runs, they don’t have the cash for everyone to withdraw as its tied up, they do have the equity though, tethers no different

>>25989473
Deranged schizo nigger lol

Theres a literal pending RICO case involving the New York Attorney General.

Do you think the Federal Government goes on RICO cases without probable cause?

You're so fucking delusional that you'll probably still be denying it the second DELTEC or Tether gets shut down.

But what am i wasting my time telling you this for. Insane deranged niggers like you can't tell how insane and deranged you are.

Anyone else logical can see where this is headed

>protip: Its gonna involve court cases and police raids

>>25989473
>how is it any more “fake” than what banks do with usd
First, QE is relatively new and usd does have backing (of literal military force)

>>25989363
he’s right mongaloid it just went way over your head

>>25989636
Yes anon im sure you do. Now tell me why theres a pending federal court case lol

>>25989494
why would anyone short when tether can arbitrarily pump the market and make you go broke

>>25987979
This is going to be a targeted event isn't it?

This on the same day that Chainlink announce their biggest ever proof of reserve partnership with one of the most high profile rival stablecoins. It's all falling into place

>>25987979
So the reserves that are supposed to be on hand are just reinvested into bitcoin? So each printed tether is being invested into bitcoin twice?

>>25989704
>>midwits thinking theyre galaxy brains

Hey niggers. Tell me why theres a federal court case hahahahahahahHAHAHHAHAHAHAH


>inb4 schizo mental gymnastics

>>25989675
kek, muh military!
This is the most retarded nocoiner meme.
USD is being printed/devalued to oblivion to pay for that military budget.

>>25989510
Are you retarded? There are people always selling bitcoin at prices 10%, 20%, 30%, etc. higher than the current price. People assume currently USDT is worth something and are willing to trade their BTC for some higher price in USDT. Tether prints as much USDT as they like and buy those higher-priced BTC, driving the price higher

>>25989308
Btc is fine, it's USD/T that's fucked

>>25989673
It’s a civil Rico case actually, anyone can file one of these and they have incredibly low success rates (look it up) the Nyag only have an issue with tether for loaning Bitfinex 850m supposedly. They’ve never accused tether or finex of market manipulation That’s a different lawsuit, a civil suit filed by literal jews

it's a fucking bloodbath in the 39k line most epic battles of history

>>25989612
>Depends on how market will react if true (which I doubt, and even if true it will not be released tomorrow)
I doubt anything special will happen tomorrow

>Depends on how market will react if true (which I doubt, and even if true it will not be released tomorrow)
A lot of institutions fell for Bernie Madoff too, don't be surprised that a lot of institutions did zero research into USDT, most of them probably don't use it anyway

Class action civil suits against billion dollar companies have such low success rates they’re unheard of and even the Nyag announced tether are complying, it’s a nothingburger

>>25989794
Exactly. This dude here actually read the cases.

Seething no coiners are going to rope tomorrow.

>>25989615
they arbitrarily printed USDT in order to pump the price of their collateral

>>25988718
oh you'll learn, very soon.

>>25989794
Yes anon because as far as anyone knows, theyre not involving drugs or cartel which makes it a civil RICO case.

And you know what anon? Harvey Weinstein's civil RICO case was thrown out because his finances were audited.


RICO works on the basis of: Prove you're not committing fraud.

its not like other crimes. YOU HAVE TO PROVE YOU"RE NOT EMBEZZLING.

Is USDT audited anon?

Protip:
>its not

>>25989769
try printing your own currency in the U.S. and see what happens

>print unbacked Tether
>buy BTC with unbacked Tether
>BTC pumps as a result
>sell BTC for dollars
>Tether is now backed
>repeat
It doesn't seem quite right. How was this working the whole time again?

>>25988370
They used customer funds to buy BTC with an average of over 9000. So USDT is backed by the trading price of BTC which Bitfinex gets for free by trading newly minted Tether. Who is giving Bitfinex money to keep the lights on?

>>25989929
This

>>25989581
this person is able to look at the bigger picture instead of autistically obsessing over meme charts and coming up with scenarios in their head describing what they want to happen, and that is why this person is not going to lose their money

>>25988703
Pretty much the housing market crash of 2008.

>>25989929
Oh yeah lemme file one against Jpm for fixing the gold and silver markets cause it’s literally that easy. I’m sure tether and finex will just spread their legs for inspection for a civil suit audit, kek little flys that think they can fight overseas megacorps. you must be a burger, the worlds different then you see on tv kid

>>25989987
they claimed at the beginning that they were 100% cash backed, then at some point they said 74%, now they refuse to even give a number

also, they're not even cashing out into dollars considering at least in the bahamas there is not enough cash to cover outstanding tether

>>25988703
bitcoin isn't backed by tether

>>25987979
>tether has all its monies
>Portuguese, Polish and American government officials seize their funds from a shady bank they were using
>NY sues them for not having enough funds

I often wondered how people could be so dumb to fall for a giant ponzi scheme like Madoff investments; now that I can see the BTC cope in real time I’m starting to understand

>>25989929
*as far as anyone knows
they just happen to be routing billions of dollars through a shady bank in the Caymans and tax havens like Puerto Rico and weird banks in Hong Kong and Taiwan, definitely not moneylaundering along with their price fixing no siree

personally i think it's all a mob/CIA front but that's just me, you can find me and others like me in /xsg/ XRP schizo general, where we discuss The Standard and the ongoing global conspiracy to re-make the financial world (and how to profit off it)

>still tetherfudding in 2021

>>25990143
madoff promised his victims that he was a master investor and they would be rich

same shit here, people are literally on hopium, they're imagining all the amazing shit they will buy with their future $5 million and are getting greedy as fuck

>>25989719
The financial model of them makes total sense, it's literally how banks works. You have liabilities (what you are "selling" aka "providing") and assets to balance it and sustains your business

Federal court is on it because it's somethong new and huge, they of course in some point needs to investigate and clarify it

The plebs file a civil Rico cause it gives them access to treble damages so when they announce it’s a 1.5T suit it gathers a lot of media attention which is used to intimidate tether into settling, remember its civil, it’s only about money. But goodluck beating multi million dollar law firms with no evidence only speculation, these happen everyday in muttmerica, tether willl drag it out and bleed them out they have endless funds

>>25989024
Because bitcoin is still going to be pumped with Monopoly money for the foreseeable future.
The FUD hasn’t even begun yet

>SEC is going to let the shitshow run for a short while after the 15th then long squeeze retards into 3k CME gaps

We can't win.

Hate to tell you, but It's now the 15th and ETH is giga chad cock green dilding. You thought that fud everyone has been talking about for the past 2 weeks wasn't priced in already?

>>25990120
>They're not bagholding 100% of the reserves in USD while USD experiences historic devaluation relative to assets.
>The reserves are held in a diversified portfolio of assets to protect them from monetary inflation and seizures. Oh no no no!

>>25987979
>>25988122
>>25988260
>>25988370
>>25988371
1.Print $1 billion
2.Use it to buy bitcoin @ $4,000
3.Print $10 billions to pump Bitcoin to $40k
4.All the money you printed is now backed
5.Repeat

It's pretty genius.

>>25987979
did you selled?

>>25987979
SEND IT PAOLO

>>25990465
So a ponzi? How long could they have realistically kept doing this?

>>25990447
Nooooooo they must be good goys and bank it in the west and take their 0.2% interest so the banks can put it into Apple stock!

why the fuck is everything booming though? literally no reaction on tether situation at all

>>25988796
Don't short. You are dealing with 300 IQers with endless resources to make your life misserable here. Chances are on the 15th nothing will happen, then on the least expected day you wake up with a disaster. Simply stay the fuck out of stablecoins and crypto and wait. And most importantly, don't fall for XRP bagholders.

>>25990465
yeah and also illegal as fuck, will end up losing all of their money and destroy the crypto market

>>25990465
What is supply/demand, you retard?
If they flooded the market with USDT that nobody is demanding, the price would crash below $1.
The growth of USDC and BUSD proves that there has been real, multi-billion $ demand for stablecoins and crypto. They're both issued by heavily regulated USA companies.
The demand would push the price of USDT above $1 if they didn't print.

>>25990018
>fud ID

>>25990238
They only have endless funds if they can pay in Tether. The market would melt if they did so much as pull the $850M that Bitfinex owes. They're actually fucked until they can start using BTC to collateralize fiat loans.

>>25990529
Name of this milkmachine?

So does this mean that we should probably sell off our Associated stocks, like crypto miners?

>>25990550
It's not a ponzi. Ponzi implies you need retards to keep buying.
Tether doesn't need anyone. It's the currency issuers, the buyer and the seller at the same time.
Tether can pump the price to $10,000,000 per bitcoin even if no one else will buy.

>>25990560
Gay. kek

>>25990301
There are multibillion dollar entities with fiat to defend the long side this time around. These same entities have 16K+ averages so the squeezes will go in both directions.

>>25990587
You can control the demand and supply if you:
1) own the bank
2) own the printer
3) own or are in cahoots with the exchanges that use the printed dollars

why would reinvest in something as risky as BTC, the thing they are trying to stabilize?

>>25990575
It is not in fact illegal if they declare Tether an ETF.

PAOLO - FULL SEND LETS GO TO 100K THIS FUCKIN MONTH BABY WOOOOOOOOOOOOOOOOO BRRRRRRRRRRRRRRRRRRR

>>25990613
Well no cause Bitfinex raised a billion dollars after the seizure to pay back the loan, keep up
https://thenextweb.com/hardfork/2019/05/14/bitfinex-raised-1-billion-in-10-days-by-selling-a-token-redeemable-for-tethers/amp/

>>25990465
It only works because BTC is a closed environment
I'm starting to believe Back and the entire BTC establishment is in on it
They don't want to make Bitcoin usable so that Bitcoin doesn't actually leave into the real economy
>Mint $10B tether
>Buy Bitcoin at current price
>Price goes up
>Ask third parties to sell a little and give you a kickback (Bitfinex)
>Make profits
>Your minted tethers are now held as Bitcoin in reserve
>If needed you can convert your Bitcoins to tether again on the market and give customers
>Will affect price but this is expected because 10 minutes transaction time
Literally how can they be caught? It's how cryptos work overall
This is going to be detrimental for cryptos as a whole
Stablecoins are the biggest scam the market has ever seen (larger than Madoff?)

>>25990625
can't remember but she is actually somewhat fat and have a not so good face, this gif is pretty much the most favorable light you'll have of her assets

>>25990587
They have evidence of Tetherfags being on suicidewatch as BTC was approaching key resistances and how they needed to "do something". The BTC historical chart is literally fake, key resistances were supported due artificial demand. The consequences of this, you can imagine.

would it even matter at this point? would institutions sell btc at their buy in price give or take 10k? If more and more people start putting money into it, tether will be like a drop in a puddle.

>>25990636
But you can't back a country's currency with an asset that relies on people not cashing out in order to maintain price parity. It means that me withdrawing USDT would theoretically require the bank to sell BTC, which is the opposite of how it should work, and the price of BTC plummeting would inherently require the burning of millions of tethers as a response.

>>25990701
Yeah except is closer to being declared a security.

>>25990737
So... They started getting more money in reserve by issuing and selling more tethers? so it didn't solve the problem at all?

>>25990671
They can't control the BTC/fiat pairs because that's a permissionless global market. Anyone with an internet connection can trade BTC/fiat on an exchange or peer2peer.
If they pumped USDT that no one is demanding into the BTC/USDT pair, the price would diverge from the BTC/fiat pairs. The price of USDT would crash below $1.

pretty sure Tether already said that bitcoin was a part of their cash equivalent assets (IIRC they said the bitcoins were acquired at a very low cost basis compared to now)

>>25990465
its supposed to be backed by fiat not bitcoin lmfao.

>>25990774
Feels sad man.

>>25990950
It's okay anon that webm is the best part of this thread to me too, and that's as someone with a 34GG milk truck at home

>>25987979
May this fucker caused the „correction“ from 40k to 30k by selling all there btc into usd

oh dear, So even if the USD was real to begin with, the money is being spent TWICE ...

Person A give $1M USD to Tether, gets $1M USDT in return.

1) Person A buys $1M worth of BTC with that $1M USDT.
2) Tether takes Person A's $1M USD in reserve and buys $1M of BTC for the reserve.

So, $1M USD inflow generated $2M USD worth of BTC purchases.

... and this assumes the USD was real to begin with.

So either $1M USD becomes $2M buys of BTC or ZERO USD becomes $1M buys of BTC if pure printing.

SHIT STAIN

>>25990874
It works as long as USDT is in demand, exactly like you said. And it’s always been in demand due to shenanigans like DeFi, the rising price, degenerate gamblers requiring it to short/long, etc. Like you said, it will unravel only on the day that USDT supply exceeds its demand, since the existing tethers remain in circulation.

>>25990781
Brainlet take.
He was using any leverage he could think of to try to get their money back from Crypto Capital.
"If you don't send us at least $100m, the value of your BTC holdings will crash bro! Please send the $100m! It's super important."
It's the same as when someone sends the hacker a message after getting rugged:
"I'm a nurse, I really need that money, my Grandpa will die. Please bro!"
Doesn't mean it's actually true.

>>25990781
Do you understand what liquidity is? Clearly not
>>25990870
No Bitfinex paid tether back for the 850m loan I would assume, which is what Nyag believes also as they never gave them access back to the frozen funds.
So the Nyag complaint is now that at a brief period of time tether loaned Bitfinex 850m and at that time wasn’t backed 1:1 as claimed, Bitfinex then raised 1b from investors in 10 days to clear the loan . There’s also a civil suit claiming manipulation and a bunch of other things like tether is used to prop up bitcoin etc which will go nowhere . Nyag May punish usdt tho for not being 1:1 cash backed as then claimed, they now claim to be backed by a basket of assets which isn’t unusual for banks. I’d assume it’s a fine or warning. If they’ve truly been doing this for years as the tether fud claims well there’s no reason to believe they don’t have a few x their market cap in profits desu so even at the worst case they wouldn’t be insolvent

>>25987979
Why is this a problem? This is literally how banks work. They take money from costumers (which is technically supposed to be a "safe deposit") and then the banks invest that money in other assets or give it out as loans. This is literally what a bank does -> creates "money" out of thin air. If too many people withdraw their funds, then the bank will collapse or requires a bailout/cash-infusion. This can happen to a bank, this can happen to Tether.

Since the price of BTC is this high, why would it matter? Banks have a reserve of 10%, I assume for Tether it's about the same, if not higher.

From the article:
> Deltec made headlines in 2018 after Tether published a letter from the bank announcing that it held a little over $1.8 billion, which roughly lined up with the amount of USDT (-0.1%) in circulation at the time.

Tether has a marketcap of $24 billion now, where 10% would be $2.4 billion, which they most probably do have. Someone please explain what I'm missing here?

>>25991100
Which is why they need to quickly onboard institutions with real money to paper over the whole thing. If it all collapses one day, Gemini and Square will be the first to hang.

>>25991030
I'm jealous. Got pics?

i have quite a lot of usdt on binance
should i be moving into something else before tomorrow?

If you give money to your bank they have your money.

They don't give you Monopoly Money (USDT) in return that can also be spent by you!

Either the bank has your money or you have it.

With the USDT scam the money can be double spent. You spend your USDT with Tether spends your USD.

SHIT

>>25991229
OG Bitcoin holders completely unfazed and unaffected. Hal Finney predicted this back in 2010.
https://bitcointalk.org/index.php?topic=2500.msg34211#msg34211

Hal Finney - December 30, 2010

Actually there is a very good reason for Bitcoin-backed banks to exist, issuing their own digital cash currency, redeemable for bitcoins. Bitcoin itself cannot scale to have every single financial transaction in the world be broadcast to everyone and included in the block chain. There needs to be a secondary level of payment systems which is lighter weight and more efficient. Likewise, the time needed for Bitcoin transactions to finalize will be impractical for medium to large value purchases.

Bitcoin backed banks will solve these problems. They can work like banks did before nationalization of currency. Different banks can have different policies, some more aggressive, some more conservative. Some would be fractional reserve while others may be 100% Bitcoin backed. Interest rates may vary. Cash from some banks may trade at a discount to that from others.

George Selgin has worked out the theory of competitive free banking in detail, and he argues that such a system would be stable, inflation resistant and self-regulating.

I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash. Most Bitcoin transactions will occur between banks, to settle net transfers. Bitcoin transactions by private individuals will be as rare as... well, as Bitcoin based purchases are today.

>>25991258
The heavily audited cme is doing billions in cash volume on crypto, it’ll be ok son
https://www.investopedia.com/amp/cme-becomes-biggest-bitcoin-futures-trading-platform-5095299

>>25991258
It works without institutional investors
It actually works as a scam
As long as Bitcoin can't be used in the real economy it's literally just a game they can manipulate however they want

Imagine you're playing Monopoly
Bills are digital
You decide to give everyone $500.000.000 for every unit of Monopoly-money that they have
Great
You've done so
You've increased the value of the monopoly money
In the game nothing changes
As long as the monopoly money aren't exchanged for actual goods and services what you just did is actually meaningless
It has no impact on anything besides making monopoly-money (which is actually worthless in reality) more valuable

Tether prints 500.000.000 and gives to person in exchange for $500.000.000
They buy BTC with that $500.000.000 which increases its price
That's where it ends for Tether
The key thing is that person who wants the 500.000.000 doesn't have to exist
Tether has never been audited
We have no idea if they're serving customers or just pumping the Bitcoin price

>>25987979
Didn't Shkreli get 7 years in jail for something similar?

>>25991350
Just convert to USDC for safety, chances are fuck all will happen though

>>25991678
thanks

>>25989078
4:20

Look at 07:00

https://m.youtube.com/watch?v=3g2e_nEX9H0&feature=emb_title

>>25991352
they literally do have monopoly money: look up how fractional reserve banking works

>>25991150
why isn't the fact that Tether and Bitfinex were working together to prop up BTC worrying to you? especially when Christine Lagarde and Brian Brooks have both talked about increased regulation for BTC in the last month? Even if it's just a civil suit brought by a drug dealer, that suit might have very powerful people behind it, and unless Tether can argue their way out of some fairly persuasive evidence I can't see this going well for them. Don't forget that Poloniex, Huobi and Binance are in the lawsuit too.

"Tether prints 500.000.000 and gives to person in exchange for $500.000.000
They buy BTC with that $500.000.000 which increases its price"

... or both Tether and Person who bought USDT buy BTC (500K with UDS + 500k with USDT) doubling up BTC demand.

>>25990764
i don't trust Adam Back.

>>25988703
WELCOME TO THE SHITSHOW. im buying the fuck out of bitcoin when it goes to 1k, people will forget it all happened and itll go again in a few years.

>>25990220
why are people defending a fraud?

holy fuck im laughing so hard

>>25987979
litterally admiting to manipulation, lol they getting banned

>>25990671
and Tether/Bitfinex/Deltec do all three!

>>25990636
so, even worse than a Ponzi. got it

>>25991678
Nothing will happen tomorrow persay

We don't know if Tether has basically "double spended" (I give them 1mil USD - they give me 1mil USDT, we both spend it on buying BTC).

We don't know the real demand for Bitcoin.

We don't know the backing % or what is USDT really backed by.

We don't know how many exchanges are involved creating demand-supply for USDT.

The situation is pretty fucked, but I think it stays running desu. Nothing will probably happen before some solid proof with pics is shown in everyday papers/news.

>>25988703
Whats that anon? You dont want your money being used to collaterize twice and having niggers in the bahamas profit from it?

Its just FUD anon. Dw about it. Everything will be fine

>>25991118
Tether has only done but firing auditors and avoiding any clearance on the situation. It's retarded to not assume the worst and prepare.

>>25991967
Are banks propping up apple when they invest customers savings in it?

>>25990220
>>some random niggers in the bahamas can do it anon trust me the jews do it too
You're gonna get crushed lol

Get out of the markets you retard you're gonna lose everything

>>25990560
good find anon. this guy looks like he is more than capable of gaping the shit out of Tether and Bitfinex and leaving them leaking on the pavement.

also explain how usdc is growing at a faster rate then tether

If ANY bitcoin is bought with reserves it is being double spent on crypto.

>>25987979
Why is it ok for every other bank to do shit like this?

>>25992283
Because theres way less of it you stupid nigger

>>25990636
Tf are you on? The demand is people cashing out to / buying with USDT

>>25991375
The only reason they allowed Bitcoin to show up on CME becomes more evident by the day that it was to short the fuck out of it once they clamped on Tether. Amazing.

>>25992253
Is Binance involved? Can Binance end up shut down along with Bitfinex? what the fuck exchange is left Kraken and Shitbase suck.

>>25992283
usdc is backed by reputable companies in the US and has a 1:1 peg with the dollar, there is literally a dollar in a US bank account for each issued usdc

They also actively burn usdc when it is traded in

>>25990099
you're missing the fact that the US is using this case as a way to set a precedent for leading the world in the crypto space. i imagine rules will come out of this case and the Ripple case that will be used as tests going forward, which will pave the way for the digital economy based around central bank-issued digital currencies (and mediated by a neutral bridge asset aka XRP)

>>25992330
brainlet take, add that to the pile with all the tether speculation

>>25990636
how do they manage to maintain usdt at $1 though

>>25992361
yeh man it’s been running for over 3 years as a big tether short, kek you do know longs make much Much more money right? It’s much more likely to hit a million then it is to hit 3k from here

Wtf. So tether is backed by bitcoin instead of fiat?

>>25991352
oh boy you are retarded

>>25992489
tether is backed by bitcoin which is backed by tether which is backed by bitcoin
it just WORKS

>>25990143
be fearful when others are greedy, be smart when others are being retarded. it strikes me as kind of a real-world proof of what Goering said about the Big Lie. people will refuse to see what's right in front of their eyes if it isn't compatible with what they believe.

>>25992437
More speculation, again you know nothing nobody does other then usdt continues to run and honour the peg without fear And this Xrp case will take years to play out and it’s less complicated then tether And directly hit by the sec, tether could never be a security

>>25992439
Holy fucking shit.

USDC is growing faster than USDT because USDC is a fraction of USDT.

A million of USDC is a bigger percentage than a million of USDT.

Hence they are 'growing faster'

Just kill yourself you fucking retarded nigger moron

>>25988260
guess again stinky dick

Also this ain’t tether saying they directly invest in btc, but the same bank tether uses its yet another nothingburger

Fuck it all makes sense now. The writing is on the wall
>UK warns about losing all of your money in crypto
>Sec time limit is up
>Lagarde tells about the "funny business" with bitcoin
>Calls for regulation become more frequent.
It's about to explode any time soon.

>>25992405
we'll see. I know Tether Bitfinex and Binance work closely together but i don't remember if Binance is mentioned in the lawsuit directly. I know Poloniex and Huobi are. Binance does a lot of Tether's wash trading though. Tether prints USDT-->sends to Binance-->Binance pays tether back in money that has come through their exchange if i understand it correctly

>>25988601
tendermint? but why?

>>25989314
don't try to reason retards

>>25992598
Ignore the brainlets anon, they made their mind up about crypto a long time ago and now they’re seething

>>25988249
bitcoin is traded 24/7 buddy

>>25987979
that's actually based if you think about it.

>customer gives you $5
>you immediately buy $5 of Bitcoin
>1 year later you have $50
>profited $45 from literally nothing

it's unstoppable. Literally printing money.

>>25992538
i bet you honour the peg without fear you fucking queer. your mom "honours" my peg. What the fuck do you mean "i know nothing" it's obvious to everyone who isn't willfully blinded by greed that Tether is a scam which is about to get blown the fuck out by the government.

https://www.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.154.0.pdf

Right there for everyone to see. all you have to do is copy and paste the link into a new browser tab and take 2 minutes to read. Get out of BTC now, it's a good exit point.

at worst cant I just hedge via buying a put?

>>25992598
Tether literally owns the bank, idiot, watch tether’s retarded interview from a week ago

A bunch of brainlets with no financial experience have figured out the great tether fraud, source .. Trust me bro it’s bad

yikes, tomorrow is gonna be fun to watch

>>25992298
Do what exactly? Print money?

The fucking banks don't give you some mystical token in exchange that supposedly has the same value in USD that you just deposited into bank. That would allow double spending (you give the bank 1000, the bank gives you 1000 and you both go and buy something).

That is exactly what has been happening, when Tether has been buying BTC with their fucking reserves.
I'm not trying to fud, I'm just mad that Tether has fucked up the market basically for anyone who has bought with their own money.

>>25992706
If tether is 100% backed by bitcoin then that just means it's an x2 leveraged play on bitcoin, no different than derivative trades on leverage like bitmex or bybit.

>>25992602
it's part of a coordinated plan. before institutions can begin using digital assets for payment they have to eliminate the fake money, corruption and moneylaundering. how convenient, then, that it's all located in a single company, which is almost cartoonishly unprofessional and opaque. It's almost like it was a setup all along.

>>25992720
Civil suits are nothing anon, companies get hit with them all the time, you don’t even know how stupid you sound that’s the funniest thing of all. Midwits like you will always be poor cause when you search for fud on anything you’ll find it to justify playing it safe and not investing. Aka being a coward. while others make money

>>25991229
>Why is this a problem? This is literally how banks work
TETHER
IS
NOT
A
BANK
BANKS
ARE
REGULATED
THEY
ARE
DOING
ALL
THIS
ON
FOREIGN
TERRITORRY
ILLEGALY
NIGGER

>>25992741
it's worth mentioning that a lot of people in this thread are correct- this is the same shit that every other bank does, which is actually a great argument in favor of the entire financial system being a scheme. the difference being, of course, that Tether doesn't have the combined weight of the government and the financial cabal (i.e. Rothschild-led central banks, BIS and IMF) on its side, but rather has found itself in a position where it needs to be sacrificed. and so it will die bloodily and be replaced by USDC. Buy ALGO and Stellar.

>>25991858
Based

So many angry eternal wagies itt you can see how personal it is to them, how will they cope when bitcoin hits 100k?

>>25992602
>>25992788

>its a part of a coordinated plan

remember XRP lawsuit.

its all clear now. im all in.

And dots almost $15 and just like that I’m up 160k today, topkek

>>25991352
Lookup fractional reserve banking. Banks dont hold your money they lend it out. Money is created as both the lender and depositor have a claim to the money and can consume it.

>>25992861
who cares lol

>>25991877
Wait. I'm confused. An investment bank is invested in stock, bonds, gold, bitcoin etc? That's fucking crazy talk. Bitcoin is going to 0 tomorrow, along with tether. What a disaster.

>>25992841
have fun making all that money then.

>>25992861
the reason this suit is being filed in New York is because Tether was doing business in New York, in ways that violate financial laws governing the way business is done. That's why they've had to route payments through sketchy banks in the Caribbean. For this they are going to die.

https://www.coinspeaker.com/lagarde-bitcoin-regulation/

why doesn't anyone talk about how China has already banned Tether?

https://asiatimes.com/2020/10/proposed-china-law-to-ban-stablecoins/

>>25992861
>BANKS
>ARE
>REGULATED

this fucking cope. I fucking hate stupid niggers like you

>>25992944
over 90% of my net worth is in XRP. once you do the research and see the big picture, it's so clear what is happening. unfortunately most people are dumb and lazy.

>>25992989
Tether and Bitfinex aren't banks. Rather, they bought a corrupt bank (Deltec) in a tax haven to do their business for them. worth noting that Deltec has been indicted for money laundering like 3 times already. https://cointelegraph.com/news/brazil-tethers-new-banking-partner-deltec-suspected-of-accepting-laundered-funds

Anyways, I'm going to sleep. It's 3.20am here. I hope there will be at least some discounts available in the coming days.

I just hope anyone here makes it and I don't care if you believe or not in the Tether fuckery. Happy life is a good life.

>>25989754
I think most people are looking at this the wrong direction.
It appears more like this example:
>have a million dollars
>buy million dollars in bitcoin
>loan out that collateral as tether
>tethers only use-case is buying crypto
>bitcoin is the most popular crypto
>every time the price of bitcoin goes up, you can print more tether because your collateral increased in value
>every time you print more tether, the majority of it gets invested in bitcoin
> every time the price of bitcoin goes up, you can print more tether because your collateral increased in value
> every time you print more tether, the majority of it gets invested in bitcoin
> every time the price of bitcoin goes up, you can print more tether because your collateral increased in value

>>25992861
So? The old system is dying, why should anyone give a shit about it?

>>25992861
they don't act as a bank, people give them USD for an asset called USDT, not a bank

>>25993051
kek, this.
https://amp.abc.net.au/article/12696746
1b fine for 23m breaches, No criminal charges, no compensation For plebs , still running with no issues from there

>>25993164
Wtf you talking about, tether has basically created a situation where it allows for a run on the bank with just a small % change downwards, in one of the most volatile markets in history.

>>25993138
I’m sure there’s plenty of people who simply want usd exposure through tether, especially those from China/Russia/Iran and others

>>25993045
> why doesn't anyone talk about how China has already banned Tether?

Yes, according to your article it seems that China is keen to ban yuan-pegged tokens. Bad news for the Tether's yuan stable coin CNH. You are right, that is great news for USDT though.

>>25991258
>Gemini and Square will be the first to hang
How come? Gemini doesn't even offer USDT as a trading pair, how are they involved?

>>25993206
you say that, yet during the rona crash, a 50-60% drop in a week tether had no issues, during the bear market tether lived despite having 850m seized. again mere speculation vs hard facts

>>25990018
check that ID

>>25989673
Weak fud

>>25993278
Please read when they bought in to do this.

markets dont give a shit, why should I

>>25993138
Worth noting, George Soros did something very similar with the pound/euro
Euro/Bitcoin. <———-- buy these
Other currency/usd <— Using these
Pound/tether <———— with these as Loan collateral

NOOOOOOO THEY CANT USE BITCOIN AS AN INVESTMENT VEHICLE THEY MUST PUT IT ALL IN GOVERNMENT BONDS AND 0.1% INTEREST ACCOUNTS . THEY MUST SUPPORT OUR LBGTQ COMMUNITY PROGRAMS HOW WILL JAMAAL FUND HIS 13 CHILDREN FROM PRISON

>>25991633
>We have no idea if they're serving customers or just pumping the Bitcoin price
Err, yeah but go back to what you said above:

>Tether prints 500.000.000 and gives to person in exchange for $500.000.000
>They buy BTC with that $500.000.000 which increases its price
In other words the money they bought BTC with was real money.

As I understand it, the question was whether or not all of the USDC minted by Tether was backed up by actual USD. Last year they admitted that it isn't, and now the question is how much exactly of the total minted USDC (sold or just sitting there) is backed up by USD. What they do with the money that they receive from sales of USDC (buying BTC) has nothing to do with these questions.

Face it they’ve made their own system, you fags are so brainwashed into being goodgoys that you hope it fails

Bullish for Bitcoin.

Tether does NOT influence the price of bitcoin. Keep on dreaming you bull trannys.

>>25989510
>Print 200 mil usdt
>Buy 200 mil worth of btc for usdt
What do you think will happen to the price price of btc you mongoloid?

>>25993138
Yes tether's an x2 leveraged play with bitcoin. Tethers are supplied, which are arguably worthless, sell tether, and get btc, which at least has more worth than Tether.
Also, there's not really an unwinding mechanism because the majority of people do not redeem their USDT and it doesn't look like it's being burned.
Organic USD and spot volume still drives the market, so USDT can't just pump by itself. The 2019 asuka rally was basically a derivatives led pump, it was just crypto money shuffling around and the rally failed.

>>25991366
Wtf this is eerie how accurate it is

>>25993164
Try to buy something with a monopoly bill.

That's exactly what you're saying. The tether as intrinsec value because it's acknowledged as being backed 1:1 with USD. If it's not backed and fake money, this shit can't be converted back into real money. You're left with fancy lines of codes which are meaningless to banks.

>>25987979
so what changed since 2017? nothing!

>>25993764
you don't even know, anon.

>>25993642
>bullish
>calling FUD bulls

Ladies and gentlemen here are the people who dont see the dangers of Tether, Retards.

>>25993824
I first saw this fud when btc was below 2k lol

>>25993645
It... goes up?

>>25987979
>invests customer funds in bitcoin
This is different from "buys bitcoin with tether printed from thin air". Just FYI.

>>25993764
How is it accurate? Why would bitcoin be involved at all? At the point it’s exclusively being traded between banks, how is a bitcoin more value able than potted plants, modern art, or anything else bans decide to settle their debts with?
More to the point: why would A bank want more bitcoin in a system like this?

>>25993540
its over, kid
you can forget your cyberpunk fantasies about magic internet money revolution

>buy 100 dollars of tether
>tether buys 100 dollars of bitcoin with your 100 dollars
>gives you 100 dollars worth of internet money and you also buy 100 dollars worth of bitcoin
>for 100 dollars, 200 dollars of bitcoin has been purchased

this is a literal money duping glitch pyramid scam

>>25991366
>REEEEE joos keep scamming us with fractional banking
> Buy bitcoin to topple the evul banks
>JK guys let's make our own fractional reserve banks to scam plebs like the joos did

It's like the last scene in animal farm.

>>25994041
this is so 200 IQ chink play. im actually impressed how they did this. its unbelievably crooked scam

>>25990465
Baseless retard.

>>25988796
Nothing happened in 2017, nothing will happen now.

>>25988796
This. Tether prints because dollar prints. If they dont do that, tether price will go up and it will then lose its function.

>>25994041
This

>>25994166
What a fucking faggot post holy shit. “Tether prints because dollar prints” is the most retarded shit I’ve heard all day. Does Paulo call the fed to keep the ratio right? Fucking child.

>>25994041
real spot volume still drives the market, real money has been coming in. Tether can't pump by themselves but they can effectively steal or margin long a bull run with what they print, with very little risk to themselves.

>>25990465
except $10B isn't enough to move bitcoin from 4k to 40k

>>25989314
Not a single Tether fudder will address this. Most of them because they don't comprehend what you just said, these are the idiots who actually believe the fud, but the ones who do understand what you said know you are right and won't reply because they are sinister and busy trying to fool idiots in the first group.

>>25994309
most people here don't know how to read a balance sheet so yeah

>>25989024
sup

>>25989314
this dude knows

>>25992773
nobody cares

>>25994525
that's not btc tho

>>25994309
>>25989314
so? they haven't demonstrated that they have these assets and when/if they burn tether if their asset value falls.
secondly, the composition of the assets. If it turns out say that it's 75% bitcoin, don't you think it's a massive amount of risk to back a stablecoin with something that routinely swings +/- 50% in a year.

>>25994309
They artificially pumped BTC to give value to jump start their fake currency

It would be like me printing my own currency at home, getting gold for it, then saying “see I have the assets to back up my currency”, but add in printing so much that I pump the price of gold artificially

>>25994309
this

>>25989363
retard lmao
enjoy waiting for your "crash"

>>25994309
Facts, a mix of nocoiners, fudders, plebbiters and probably paid shills from other stablecoin providers like usdc

>>25994582
Where can a US person buy puts on BTC specifically? Shorting futures is too risky for me. Enough of the MSTR balance sheet is BTC (plus a significant premium on that BTC desu) that this works well enough.

>>25989362
>don't you see the problem? it means that the demand for bitcoin is artificial, its not being driven by customers trading dollars for USDT then buying bitcoin, its being driven by USDT arbitrarily printing and buying BTC with their own fake money
No. This is what happens:
> Customer buys 100 USDT from Tether, giving them $100.
> Customer uses 100 USDT to buy BTC. This is actual, real demand for Bitcoin.
> Tether are obliged to return $100 to the holder of the 100 USDT if they ask for it. They could meet this obligation by placing the USD in a vault. Using correct risk management, they could also meet their obligations by investing the $100 into assets that Tether thinks will perform well. When someone wants the $100, they sell $100-worth of the asset, and keep the difference, making a profit on being an in-demand service. This is not shady and is exactly what any bank does with your money.
> Thus, Tether invests the $100 into the asset Bitcoin. This is ALSO real demand for Bitcoin. Tether deems it a worthy investment asset, it could also have invested in SPY, creating real demand for SPY using the very real dollars in their vault.
> This is not some crazy "buying bitcoin twice with the same dollar = fake demand" scheme, this is how finance works, money is used many times as it circulates.
> Tether doesn't print up Tether "from thin air" without a customer giving them the corresponding amount in USD.
> Tether doesn't use its assets (the BTC it bought for the USD in its vault) to print new Tether to buy more BTC in some kind of infinite loop.
You have been successfully FUDed by deceiving bears.

>>25994620
They never forced anyone to buy USDT from them. Exchanges etc bought USDT from them because it was in demand by their customers, all natty.

>>25990554
right? im so confused

>>25990554
>>25994844
the run is real, no question. it's just that tether is taking advantage of the real run at the same time.
total dollar volume is more than it was in 2017. there's new money coming in. 2019 was a fake run more or less, led by derivatives and money shuffling around.

>>25989479
> His personal bank doesn't issue him tether when he deposits money in the bank account
Yes it does. You deposit real, actual dollars, so called M0 money to your bank. In return they give you an account containing the corresponding amount in M1 money. There is a difference, and you should read up on it. Basically an M1 dollar is an IOU for an M0 dollar that the bank promises to exchange for an M0 dollar if it is a good day and they happen to have some real dollars lying around.

>>25994820
Yeah, back your currency with an extremely volatile asset like BTC which can fluctuate more than 70% in a single year, makes sense

Any implications that Tether being a security have, its funny to watch you fucking retards who havent spent a single second of your lives thinking about how the court systems work think you know how the courts work.
You guys thinking that the 15th is the end is analogous to thinking that you will get the needle the day your lawyer turns over document production in a murder trial.
Thats not how anything works. This shit could take weeks, months or even years. You are all going to sell the golden bull just as it starts because of your ignorance.

>>25994980
That's fine since they bought at $9,000 which BTC will never reach again, despite you retarded Tether fudders. But if BTC does start to drop, all they need is a stop loss around $9k and Tether is not in danger of being underfunded. You know, risk management. Or you probably don't know.

>>25994940
tether time

>>25994754
fair enough

>>25995123
Also there is no proof they are actually getting $1 for each USDT, particularly from bitfinex which they own

If everything is so nice and clean, why do they refuse to submit to an audit?

>>25994980
it's 85% sweaty, not 70%

>>25994820
You skipped step one, retard.

>>25989673
The Police are the standing army that our founding fathers warned us about.

>>25989979
What about if he is jewish?

"Lookup fractional reserve banking. Banks dont hold your money they lend it out. Money is created as both the lender and depositor have a claim to the money and can consume it."

In this instance both parties can't speculate on the same asset simultaneously.

>>25992861
Holy fuck imagine thinking that banks are regulated nowadays.
Do you still believe in leeching your blood, too, boomer? lol
What about DDT wallpaper for the grandkids? Did you haul some up out of the basement to give them?

>>25995720
>In this instance both parties can't speculate on the same asset simultaneously.
why not?

>>25994821
post body

>>25989024
>use your real money to short what's pumped by free monopoly money

Don't worry guys i'll buy the dip

>>25993540
>NOOOOOOO THEY CANT USE BITCOIN AS AN INVESTMENT VEHICLE THEY MUST PUT IT ALL IN GOVERNMENT BONDS AND 0.1% INTEREST ACCOUNTS . THEY MUST SUPPORT OUR LBGTQ COMMUNITY PROGRAMS HOW WILL JAMAAL FUND HIS 13 CHILDREN FROM PRISON

>>25989133
And yet this is why I think either nothing will happen or it'll pump

Uh oh JPow thinks we need to regulate stablecoins, he thinks it's a systemic risk.

https://youtu.be/O0cD2t45jcM?t=1718

>>25995079
I can triple my money on chink stocks without losing sleep over if my assets will get an 85% drop the next few weeks.And Bitcoin has had 3 of those in the last decade, so fuck that.

Why do you think the jews are going to allow you to operate your own fractional reserve scam? That's their turf.

>>25996664
"And we've been very focused as you know on better regulatory answers for potential global stablecoins in particular, so that's been a high level focus and will continue to be a high level focus because they could become systemic risks."

Is he talking about tether? So the federal reserve know about the tether situation now? tick tock nerds.

>>25988371
nothing probably.
everyone shrugs their shoulders and brrrrrr

>>25997035
IS IT TETHER
IM INVESTING IN CHINK STOCKS
kek it’s always endless speculation with you broke kids

>>25992882
No based.

>>25997239
lol I have 500k faggot
have fun hot potatoing your shitty ponzi coins that do nothing to each other.

>>25997459
I have 4M from crypto so pipedown little boy the grownups are talking, find me one person fudding tether directly as manipulating the Market who’s successful and wealthy, I’ll wait . It’s always the poor angry losers, same as those fudding and shorting Tsla

>>25987979
this is basically admiting fraud wtf kek

Greatest scam ever pulled off that even jews never dared of.

>>25997557
Oh wow cool 4million in ponzi tokens whoopee.

The crypto space where 1 dollar enters and gets fractionally reserved into 20 tethers.

Have fun trying to cash out, there's 30 billion total USDT/USD chasing 5 billion of actual USD. You really think the central banks will let you get away with this don't you moron.

>>25987979
Hope BTC crashes to 1k
it won't, but I hope it does.

>>25997806
>seething nocoiner masturbation fantasy

>>25997683

>>25997806
“hope” at least you’ve capitulated on that ever happening

IMF HAS DISMISSED BTC AS A CURRENCY
>>25997405
GET IN HERE
ITS OVER
>>25997405

>>25997950
Fuck off nerd don't you know tether sent 2.5 million documents to the jews.

There's no way they'll be able to read through 2.5 million documents. Tether pump to the moon baby!

>>25998002
Are you retarded? The IMF Controls each of the G members currency. This is bigger than tether. The IMF Controls all of the bankers... holy shit the absolute state of biz, not knowing what the fucking IMF or ECB is

>>25998044
I'm being sarcastic bro

>>25993544
>In other words the money they bought BTC with was real money.
Read what I wrote at the bottom
>The key thing is that person who wants the 500.000.000 doesn't have to exist
>Tether has never been audited
>We have no idea if they're serving customers or just pumping the Bitcoin price
That's why an audit is so important

>>25994820
this
newfags not realizing that banks already do an even more insane version of this called fractional reserve banking and derivatives