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AHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHA
>>29488500they literally just created their own margin lol
Better sell your tether now
Bitcoin is a fraud. Always was
>>29488500WTF OOOOOOOOOOOOOOOOOOOOOOOOOOOUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA
>>2948859313% backed when there was 442M USDT in circulationat 34B USDT, it's probably <1% backed
>>29488500and yet biztards claim this is bullish for cryptoliteral criminals are printing imaginary money to pump btc, and btc cultists believe the tether fud is overhow fucking stupid can you be?
>>29488593that just means they're hiding it somewhere without retarded regulations you dumb fuck
>>29488905BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
> tfw one chance to make it in life> tfw named faggola
>>29488974How is this any worse than the literal criminals at the fed printing imaginary money?
Literally a giant scamThe vast majority of BTC price action is driven by an enormous counterfeiting operation, and the retards buying crypto are too delusional to see it
>>29488500glowing
>>29488974>reddit spacing
>>29489018>hiding it somewhere without retarded regulationsThis is bullish for Crypto!The regulators will never be able to get to Tether, they're MUUUCH more powerful than the CFTC or the DoJ!
>>29488500Why do people still use tether when theres other decent stablecoin options
>>29488974money printerino goesBRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRSTAY POOR NOCOINER, THE SCAM IS NOT MAKING IT
>>2948850013% BackingBTC: $47,000True price: $6,110
>>29488500everyone calm down, tether is now a digital fractional reserve bank, this is fine.
>>29488593oh shit the tether fud was actually real
everyone knows. we just ride on the cash train and hop it will not explode
>>29488500>AHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAH>AHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAyou typed this with a straight face.
>>29488500>>29488593Tether was literally just cleared of any wrongdoing. Stop posting this nigger tier fake news.
HAHAHA bearish. Tether got banned from the financial capital of the world and they will get a total global ban next.
>>29489158usdc, dai, and busd will each individually flip tether by the time another case is even filed against tether. Nobody cares except for priced out nocoiners.
Can somebody explain wtf this actually means?
>>29488500You faggots do realize banks no longer have reserve requirements right? Tell me how this is somehow worse. It’s yet another flaw in the monetary system, and at least BTC is soaking the fraud up like a sponge.
>>29489341>Cleared of any wrongdoing>Fined, even if just a littleYeah ok that's how it works I guess
>>29489264always has been, how new are you people?
>>29488500What % are American banks backed?
>>29489063>The vast majority of us dollar value is driven by an enormous counterfeiting operation, and the retards holding usd are too delusional to see itfixed
>>29489341no they was not. Tether and crypto outlet lied. Evidence of illigal activity was found. Tether straight up lied on twitter and their websiteBitfiniex, tether and that bank which is owned by tether is runnning a criminal syndicate
>>29489401don't forget USDN and UST. Especially USDN since its the most over collateralized algo-stable coin and its on chain provable.
So the idea is they will liquidate btc to fund tether? Nope. They'll go bankrupt and keep their btc.
>>29489436Discordtrannies trying to fud you
>>29489436BTC is gonna be the greatest rugging off all time
>>29489055>but but the federal reserve does it too!I didn’t realise the bar for crypto was so low. Isn’t the whole point of bitcoin to be a incorruptible alternative to fiat? How is mirroring its weaknesses going to help in that regard?
>>29489341>Tether was literally just cleared of any wrongdoingHAHAHAHAH. "“Bitfinex and Tether recklessly and unlawfully covered-up massive financial losses to keep their scheme going and protect their bottom lines.""This week, we’re taking action to end Bitfinex and Tether’s illegal activities in New York"https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal
>>29489055THE FED IS SUPPORTED BY THE GOVERNMENT WHICH USES THE MILITARY TO ENFORCE ITS POWER AND THIS IS FURTHER SUPPORTED BY OTHER NATIONS AND INTERNATIONAL ORGANIZATIONS AHHHH YOU FAGGOTS ALWAYS THINK THIS IS A “GOTCHA” BUT IT’S RETARDED AGGGHHH
>>29489511Fixed how? Both are true. Swallowing both pills is the real challenge
>>29489781>This fraud is better than that fraud because the guys doing this fraud are willing to shoot you
>>29489592yea there are a lot, haven't heard about usdn till now so thanks for the heads up I guess. But I suppose people's concern is that if btc's price is inflated then somehow it'll dump if people find out even though it's been sketchy from the start so it's already priced in?
>>29488500It's really 13% of 0% backed when you get down to it. If you're pissing and moaning about how Tether isn't backed, but not about the "currency" it's supposedly backed with, you probably have brain damage.
>>29488500Doesn't the settlement mean that they won't even rug Bitfinex users?
>>29489738We all know that it's bullshit.The point of crypto is to scam people and make money.The initial idea was founded on libertarian principles, then faggot gamblers hijacked the space when they saw number go up.I myself hold $500k in crypt but at least I've taken $1.5M in profits.I've been around since 2013 and unironically liked the libertarian point of view, but nowadays it's literally just fueled by gambling retards.But what the hell, it has made me money.
>>29489436USDT trades 1:1 with USD under the assumption that bitfinex/tether has an account somewhere with the same amount of tether as USD somewhere in the Bahamas, and the promise that if you want to cash out they'll give you the money. The investigation turned out that they actually only own 13% of the money they claimed they had in 2017, which is making all crypto markets crash since there's speculations that USDT was used to pump BTC.
>>29489781tether needs to buy some ar15s and they're golden
>>29489971Unironically yes are you a dumb child? The world is run by the man with the largest stick.
>>29489984USDN on wave is a comfy hodl. you can stake it and earn 10%+ APY. Fees are cheap and the network is fast.
>>29488500JUST NEED TO PRINT 87% MOAR.NoCOINERS BTFO
>>29490039based
>>29490061>speculationsspeculations>speculationslmao
Better than the actual dollar
More than the Federal Reserve though
>>29489511how is it counterfeiting if they're the US treasury that mints US dollars into existence?
this is bumming me out.what do?i am holding 15 btc, the last 2 i bought at 12k like in august.The rest are very long hold, so gains are all 15% long term rate.Is anyone who pays attention to volumes and whatnot notice any trading changes?Is it time to sell into USDC, pay the tax, and see where this shit show goes?
>>29488500that's actually more than traditional banks (~5%) lmao
>>29490236oh sweet summer child
>>29490406>>29490424its the>b-but we are not as BAD as the Fed, yet..argument
>>29490039yea, there's only one coin whose community has the same feel as the original one. not gonna shill it though because if you know you know
I don't get it.>Additionally, Tether must offer public disclosures, by category, of the assets backing tethers, including disclosure of any loans or receivables to or from affiliated entities. The companies will also provide greater transparency and mandatory reporting regarding the use of non-bank “payment processors” or other entities used to transmit client funds.https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegalAm I missing something? All this says is that Tether was not backed "at all times". If it wasn't backed right now, wouldn't this be clearly pointed out? This sounds more like everything is fine now.
can you guys imagine for a second, a fucking shitcoin that's supposed to be backed by fucking FIAT, which itself isn't backed by anything. did you retards REALLY think that for each tether there was a fucking real US dollar? lmao holy shitthis ENTIRE fucking crypto infrastructure is built on what already was a clown-world fractional reserve banking "system". everything is literally one sell signal away from collapsing unto the biggest and most hilarious depression we've seen in the history of humanity
>>2948850013% blacked, like the usa
>Tether fudders getting BTFO in the other thread so they had to make another one to circle jerk inI fucking love it ahaha
>>29488593Source? I don't distrust you but I want to share a link with my peers
>>29489163I use BUSD. Based China cucking the amerimutts once again.
>>29490039Extremely based. It's rare to see someone smart these days.
>>29489511>us dollar valueUS dollar value is backed by the might of the world's largest economic and military power.BTC is backed by Tether and the hopes and dreams of the very same people who think that ponzi tokens named after food are a good investment.
The important thing to remember is that tether doesn't matter because the USD doesn't matter.
>>29489230>No one buys Bitcoin using any of the other thousands of concievable methods
>>29489488banks can't create money of of thin air, they have to have to find a borrower who wants to take out a loan and have good collateral to create new loans/money.So many businesses have failed due to lockdowns, the Fed is trying to prevent a deflationary collapse in credit. The reserve lifting is temporary and also fucking pointless because it doesn't do anything.
>>29489511>>29490459>how is it counterfeitingit's not. anon is simply trying to deflect
I think retards are missing the point, this is not a moral discussion. The point is that the doj and sec will fuck tether hard. We are going to see the golden bull run this year unironically, but after this year, Bitcoin is going sub 1k
>>29490574>everything is fine now.
>>29489488‘Tell me how this is somehow worse than the system crypto purports to be a million times better than’
>>29490574>If it wasn't backed right now, wouldn't this be clearly pointed out? This sounds more like everything is fine now.NYAG didn't get any data on current situation of Tether. They only had two previous data points and on both of those cases Tether was being fraudalent. I'm pretty sure Tether is not going to be any more open in the future.
>>29490574Yes! They only had 13% cash backing it but the next day a fairy appeared and brought the 87%. All good now.
>picrel
>>29488974>literal criminals are printing imaginary money I agree it's disgraceful, but what does USA monetary policy have to do with crypto?
>>29488500I need a "Paolo chad yes" to shitpost in these threads
Who are we being raided by, holy shit
>>29491146That works as long as they don't have to burn any tether for USD redemptions.Like how all ponzi pyramids end, Enron, Bernie Madoff. People come knocking on the door for redemptions that aren't there.
>>29490039i call larp
honestly I just copypaste posts from /r/buttcoin ITT and collect free (You)s
>>29490039I’m in the same boat as you. Most aren’t though. They are going to get rugged hard
>>29490039libertarian OG here, can confirmdidn't take profits in these numbers, but pretty much the same storycrypto is yet another case study on how humans can take anything great and turn it into garbage
>>29490466>The rest are very long hold, so gains are all 15% long term rate.At $441K the rate goes up to 20%, so if you sold all your coins you'd be hitting that. Maybe talk to a tax advisor.
>tether fud is dead>reload the exact same tether fud
>>29490762NYAG:https://ag.ny.gov/sites/default/files/2021.02.17_-_settlement_agreement_-_execution_version.b-t_signed-c2_oag_signed.pdf
>>29491146There is someone holding tether. They will lose it all.
ON MY WAY TO TOP 10
>>29488593>Bank of MontrealI have a BMO account and they freeze my fucking account for trying to buy crypto, yet they let these scammers store millions? what the hell
>>29488974this idea that you literally can only trade crypto with Tether, or that the whole environment depends on whatever the fuck happens to Tether is peak reddit.
>>29490790>backed by the might world's largest economic and military powerworlds largest cope. globalists will throw you under the bus the first chance they get. hope you know mandarin and like sucking your new chinese overlords 2 inch pee pees
>>29491276you can't cash out tether for usd anywhere LOLbrilliant, really
>>29491686You better learn Mandarin to ask the Chinese to process your transactions.
>>29491553https://coinlib.io/exchange/binanceeveryone look at the dimwit retard that didn't do his research
>>29491553stages of cryptotard cultist coping>1. Tether dindu nuffin he a good boy>2. Tether has no impact on btc price, it's irrelevant>3. So what if Tether is a scam, Fed is worse
Is this why every coin is dumping? Did Tether kikes kill the bullrun?
>>29488500reserve ratio for us banks to give out loans is 0%just so you know
>>29492047you are fucking moron if you don't think CZ and other chink cex don't have an exit plan. In fact, chances are CZ is probably thinking of dropping Tether in lieu of BNB and BUSD already.
>>29489341Literally banned from NY state. Its over.
Please read the document you posted, tether/bitfinex had the money, they just had it in a comingled account instead of ringfenced accounts. FUDDERS BTFO. The fact that tether is still trading at 1.00 usd is proof that this was a nothingburger
>>29488593>>> until 2017You retards know its 2021 now, right?
>>29490839>buy something in an auction>you bid with your hard-earned money>other person bids with fake moneyEven if you "win" you're paying more than you should have. Wouldn't you rather be buying BTC at 13% of the price?
>>29492047This image cracks me the fuck up. So do Americans in general. >Tether is fraudulent! Look at this graph, almost all inflow of money on Binance is via Tether! Doj and SEC will fuck them up!>Binance not even operating in USYou guys are reaching so hard. If the US decides to declare every alt a security, blacklists USDT, traces every single crypto to crypto transaction to tax it 99%, and makes it impossible for American exchanges to follow regulation, it will still not mean the end of btc/crypto. Biggest adoption RIGHT NOW is happening outside of the USA. It's ogre, bitfinex'ed fags. You got too cocky.
I just looked at coinbase and it says tether is worth 1 USD
How is what Tether is doing any different than what banks do with our checking accounts?
>>29491317You
>>29492568ofc these retards dont know its 2021, they too busy buying and shilling pajeety ass scams and cant cope with the reality they will never make it as too pussy to actually trade or hodl properly. Always buying tops and selling bottoms, the bizlet way.
>>29492338tethers trading volume just past 200billion today. their exit was the coins.
>>29491686>hope you know mandarin and like sucking your new chinese overlords 2 inch pee peestalk about >pic relatedDidn't even mention china. You're just mad because you're being taken for a ride by a bunch of fraudsters. It's not even a good story:>i was greedy>i got takensorry your ego is a little bruised, anon.
>>29488593>2017Its better now. I'm actually fairly confident its fully backed with all the scamming they've done so far
Isn't this counterfeiting? They should stop using the word dollar and stop insisting on a 1$ peg. Keep it at 2$ or 0.5$ or something.
>>29492711tether isnt insured, plus them doing it to btc makes btc an inflationary asset and not a hedge against inflation
>>29488500That was back then. No it's probably less than 1%.
>>29488500>104 posts >not one perosn stating the backing requirements of modern commercial banks are below 1%you fucktards lack the most basic financial education there is and still outperform hedgefunds if you would just take profits at some point.i lightheartedly kek the irony is not lost on me
>>29492711because when there's a run on banks, they go tits up or simply decide, to be 'slightly less backed' than they should, your deposits are Govt guaranteed. For a start.
>>29492086All 3 arguments can exist at the same time.
hoyl fuck you niggers are spinning in literal circlesthey just ended the case today and you mongoloids are still making shit upwhat tether does that the NYAG doesn't like is shadow banking, it's not about backing you fucking retardsI feel like an idiot just explaining this to you moronskeep waiting for some tether collapse that will never come
>>29489436it's a scam but nobody is going to do anythingenjoy the bullrun
>>29492909Thanks anon
>>29492711for one thing, banks are highly regulatedfor another, banks don't print the money for another, actually never mind, it's like trying to explain calculus to a hamster
>>29492086there is no coping , wagie>tether doesn't matter, 90% of the reported volume you guys talk about is fake shit from coinbene and family>nobody gives a fuck about shadowbanking, except for bureaucrats and regulators>stablecoins aren't scams, you're just seething that CBDCs are going to use their trash>hurrr the fed, nobody cares, you can hedge yourself out of their shithole today
>>29492987>shadow bankingI thought tether was a stablecoin and not a bank.To be a shadow bank you have to provide lending to borrowers.
>>29493009there is no scamwagies are just seething about the shadowbanking
>>29492909It has been mentioned multiple times in this thread. I do agree with the Bitfinex'ed/Tether chicken littles though, it's a cheap cop out. Blockchain should be completely transparent in this regard and Proof of Reserve should become the norm (it will be, Chainlink already enables it). This will be yet another reason why defi is better than centralised banking.
Oh my god Tether is a scam?
>>29493287their wire provider does shadowbankingit's what this whole shitfest is aboutthey proved their backing today but retards are trying to spin this into their Qanon tier happenings
Why the fuck did Tether stop printing suddenly?
>>29493105>Fractional reserve banking is not the same as printing moneyWell technically no, it isn't. But the result is the same
>>29492840you didnt mention china because the scope of your worldview is 100% correlated with your cum brain IQ. your entire argument predicates on the notion that we must give a monopolistic authority to central banks to denominate value and create wealth. now go suck a chink dick you faggot
>>29493287>shadow banknobody here knows what "shadow banking" is, they're just regurgitating jargon they heard somewhere and are trying to deny and deflect. Like here: >>29493247
>>29493342>yes now pls turn your money into worthless LP bs to farm food token with higher inflation than Venezuela has.>DeFi is the future
>>29493450What are you talking about>what tether does that the NYAG doesn't like is shadow banking, it's not about backing you fucking retardsI thought we talking about tether but now you're saying their wire provider is a shadow bank? Are you talking about deltec? The loan came from bitfenix.
>>29488500uh do i sell anons?
>>29488500
>>29488500sauce?
>>29493643A bank is a place where you create loans it's that simple.A shadow bank is an organization that isn't strictly a bank but can create loans like Quicken Loans.But to create that loan you still need collateral, for instance the house is the collateral for loans created by Quicken Loans. How the fuck does this tie in with tether. Tether isn't supposed to doing shit except holding dollars in reserves somewhere like gold in fort knox. The gold is supposed to sit there and not get transported there whenever they have to do an audit.
If you really believe in crypto then you should be hoping that the Tether boil gets lanced sooner rather than later.Imagine shilling for what’s essentially a fractional reserve central bank of crypto just because it makes the price go up. Option B is you think all $36bn USDT is backed 1:1, in which case you are a retardI wonder what percentage of people defend tether know it’s a scam just because they want to see line go up
>>29488845The thread is about tether, not bitcoin. Sell your tether now for bitcoin, before it crashes!
>>29494125Crypto is decentralization, transparency being your own bank unbeholden to centralized fraudulent financial entities gaming the rest of us with money printing.How could any could anyone support tether it's 180 the opposite of what bitcoin stands for.
>>29493009every fcking time keking at this image at 100% forcefrog face is the absolute state of biz
>>29489230Most people in crypto have never even used tether. I’ve never used tether a single time and I’ve been here since 2015
>>29493707>Food yield ponzis exist therefor DeFi is worthlessThe sad thing is, dimwits like you lack any self awareness or self reflection and will just act like you were always in favor of the same tech you kept bashing and wasting your breath on while yelling at it like some out of touch boomer. Sad.
Should I move my money out uf USDT? SERIOUS QUESTION
>>29494168Tether pumped bitcoin every time you fucking putz
>>29494509>you>youthats sad.Just observed that vast majority of people ape into high APY defi scams not knowing the risks, thinking 50k% apy means they will get lambo after farming 100$ for a year. You know the ratio of meme tokens to actual defi is 80:1. People who farm sushi are the same people who spam twitter with "defi is the future"
>>29489341>Tether was literally just cleared of any wrongdoingImagine being such a cultist mong that you interpret "not admitting any wrongdoing" as "cleared of any wrongdoing"
>>29490238Don’t forget swop.fi
>>29494509>We've skipped the ICO step and moved straight to speculating on governance tokens for contracts that hold bob capital for the sake of loaning out alice tokens that exist to start the process again in carl contracts.So profound. It's a game and not even a decentralized one. It just happens to run in an arguably decentralized environment (unless it's BNB then it's just a fucking DeFi LARP).
>>29488500You've ruined me 4chan I read blacked
>>29490497pretending to be retarded is a trait of a redditor
>>29490574thats literally what it is. There whole case is that there was a period of time in 2017 that they werent fully backed by USD (may have been backed by other assets at the time) this is literally the biggest nothingburger ever. Tether FUD is dead
>>29490574retards are starting to panick rn although they should have done it a month ago, when the result of the audit wasn't in yet
>>29488500i just sold everything. im out of this shit forever. vaporware backed by nothing and shilled by reddit moonboys
>>29492909You are the only retard here. Yes, banks and the fed do the same thing but they are the ones that rule the world, tether will get fucked hard and so is every single shitcoin within a year
>>29495708>Tether went from 13% backed at 44 million to 100% backed at 36 billion>You actually believe this
>>29490039Satoshi made BTC dividable by 100 million, meaning that if 1 BTC = $1 million, 1 SAT = 1 cent.Seems like he understood what would happen from the start.
>>29495708The case was investigating 2017 and 2018 and both times NYAG purported that tether lied and acted fraudulently. They don't have anything to say about 2019, 2020, or right now because that wasn't the scope of the investigation. Where there's smoke there's fire. This tether doesn't pass the smell test there's so much shadiness.
>>29496005>, tether will get fucked hard and so is every single shitcoin within a yearthey just settled with the NYAG for 18M brainlet
>>29495708So you believe criminals who were committing massive financial fraud for years should be trusted now?
>>29496324>heSatoshi is a pregnant female
>>29496341They agreed to provide transparent reports in the futureThey basically bought themselves a few more months before the giant rugpull.
>>29490039>The point of crypto is to scam people and make money.sometimes you have to cheat to win anon.
>>29496600It was the fetus, instructing the female from inside the womb.
>>29490039of courseanybody holding some altcoin for an extended period of time is going to get rekt in the end. just make your free, fast as fuck money and get the hell out.
>>29496895oh..
>>29492700Yeah- the first billion tether are worth $1. It’s just that the next $33 billion are worth $0
>>29497149if only all females looked this good
A lot of you retards need to learn what fractional reserve banking is. Tether is absolutely nothing compared to the modern financial system
>>29488500Why do centralized Chink exchanges like Binance and the others push Tether volume? Just use USDC. I have been in crypto for 8 years and never used Tether once. When that shit collapses, those that hold it will be rekt completely.
>>29496608This. Why do you think BTC is dumping right now? Tether needs real dollars to cover all the fake dollars they traded out for real Bitcoin over these past few years.
>>29497407Tether loans tether to exchanges at a 10% discount.
>>29488500>>2949006113% is still more backing than most banks have.You do realize fractional reserve banking has been around for hundreds of years?
>>29498038Fractional reserve banking is susceptible to bank runs so that's why the fed was created, to be a lender of last resort and as a central depository clearinghouse.Tether never said in any of their statements that they were doing fractional reserve banking, they've always stated that they were fully backed 1 USDT to 1 USD even when they were 100% lying. Instead of being cucks and admitting it, they decided to double and triple down on the fraud which is bold in it's own way.
So that's it? They get a slap on the wrist and go on printing money? No other regulatory bodies are gonna weigh in?
>>29488500Fuck tether and their shady ways.Fuck any USD pegged stablecoin that isn't just algorithmically stabilized too.Fuck retards that keep trying to FUD btc when this tether case is done and dealt with. Get better FUD.
>>29498392NYAG has state level jurisdiction. This is the full extent of what they can do.However this ruling leaves tether open to cases on the federal level especially if they don't comply with quarterly reporting on their reserves.Just wait for the interview with the nigress you'll get a better idea then.
So I read the document and all, why did thether not sue crypto capital? Also, did they not resolve the problem by getting a loan? I mean yeah at some points it wasn't backed but so is money at regular banks
>>29498392they pay a fine and step in line
>>29488974Why you no think the United States Dollar does the same ting? The Federal Reserve should be banned by NY. The Fed steals from not only Americans but from the rest of the world.
>>29498038LMAO. The difference between banks and your butter stable coin is that banks actually know where the other fraction is.
DESPITE BEING 13%-
>>29490404Rumors move the price>>2949803813% was in 2017, if they haven't gotten a significant amount of cash since then (I'm talking like 100x what they didn't have) they're at way less than 1% backed. They're literally printing 10x their net worth in 2017 twice a week these days.
Also if they really boosted bitcoin price out of fake tethers you've got to admit that's kind of genius, it really shows how stupid the economy nowadays really is
>>29498739you mean it GIVES to the world. God bless america
>>29498739The federal reserve and the dollar are approved by the US government.
>>29496341>18MSo what is that, like 30% of their reserves?
>>29497385Yet it's like 90% of Bitcoin's volume
>>29498739>prints money to stabilize market and save economy>omg omg FED pls stop robbing us pls dont print money, thats considered as armed robbery pls noooooo
>>29498038>You do realize fractional reserve banking has been around for hundreds of years?Yeah I realise that. I was told that crypto was going to be an alternative to them, not an even shittier and more corruptible imitation.
>>29499325>Stabilize market by removing price signaling and profit incentives via helicopter moneyKek, good one anon.
>>29499414>dreams of another great depression because he bought spy puts
there's literally never been a need for tether. it exists so (((exchanges))) can rip you off and do fractional reserve banking using the SAME EXACT SCAM jews used to steal all the gold with 'Federal Reserve Notes'
>>29499664We're already in another Great Depression you tardo. Or did you think the economy's health was measured by the SPY?
DUDE, what if, our conventional belief system, was also like the belief in the dollar...
>>29499734ah yes a great depression where you can't buy a PS5 because they are sold out.
>>29499871Name me a game for the PS5 worth playing. Honestly.
>>29489018MONERO
>>29499871>Lack of availability of goodsThanks for actually helping my argument. Look at private sector GDP, unemployment numbers, unpaid rent and mortgages, and tell me we aren't in an economic depression.
>>29489501In New York, notorious no fun zone for crypto? Yes that's how it works
>>29489055>How is this any worse than the literal criminals at the fed printing imaginary money?because that independent jewish lead entity pretty much runs the show globally
>>29489504100% backed by de goberment
>>29496492>>29496181>>29496338>no believe my heckin niggerino AG instead
>>29500007There isn't an alternative truth in New York, they didn't have the backing they claimed for the tethers. This might end up with a federal case that further punishes them for their actual crime, which is financial fraud by pumping bitcoin with fake assets.
>>29499989>ps5s sold out because of high demand. Sold out means they were sold, and where items are sold there had to be a buyer for it. therefore tons people bought a console for 500$ which would mean we arent in Great Depression as people can afford it.
>>29492685You are a moron. USD is backed by the USA.Guess what happens when people want to cash out their USDT and Bitfinex doesn't have the money to do so? The whole market will crash.
>>295003992017 was when I sold my bitcoins before the dump, Charlie Lee sold all his LTC and announced it on twitter because he's a fucking hero who gave out his insider info to everyone.The other half of it was like on youtube there were like these nigger twins like hodgekin twins or something and they started pumping bitcoin hard. I see a lot of them on twitter pumping on bitcoin now, could be same thing.
>>29500483>I'm going to ignore all economic indicators including wealth inequality and poor spending habits to prove that PS5s mean the economy is healthy.People are spending a lot of money on bitcoin too, that must mean the economy is roaring right? Don't worry about suicide rates, declining life expectancy, unemployment, or any other numerous things that would indicate a failing economy, PS5s are being sold!!!
Despite making up over 50% of the stablecoins market only 13% of tether is actually backed by usd
>>29488500Crypto is one huge shitshow. Pajeets and scammers try to lure newfags into their newest scam shitcoins to make a quick buck. On top of that they will tell u that crypto is digital gold.
>>29488500>>29488593IT'S FUCKING OVER SELLEVERYTHING WHILE YOU CAN, THE SEC IS COMING
>>29500829Lmfao
>>29489401>>29489592Anon, USDT is used to pay for Futures and Leverage contracts. Those are a big part of Binance's and ByBit's revenue.Thanks to USDT, they can easily buy/sell and loan billions of dollars each month to do transactions. This fake prices are being used to buy more crypto which in turn pushes the price upwards again. Guess what? All that money and all the price movements of BTC were done thanks to imaginary USD.USDT can really bring down the market. The prices are not real and both the whales and the biggest exchanges are too exposed to it.
>>29500757>>Lack of availability of goodsthis isnt true.wealth inequality is poor money management, spending habits and lack of financial education.Wait tilll you get a taste of real depression where youre forced to eat glue of your shoes and have your tent stolen
>>29499328This is what annoys me the most with retards who say the "muuuh fractional reserve banking".Yes, it's gay. That's one of the thing that crypto is suppose to combat, not make an even shittier version of it.I'm no fan of fractional reserve banking, but at least they're HEAVILY audited and regulated.Tether has none and is literally holding fractional reserves of BANK USD (not monetary base, M0) which already are fractional reserves.The house of card is growing taller, that's for sure.
>>29498038LMAOOOOOOOOO
>>29499709>rip you off and do fractional reserve banking using the SAME EXACT SCAMThis
>>29500829kek
>>29500399
>>29492711>banks are insured>so a portion of the costumer's money is guaranteed>if a bank dies the government will save themNone of these things apply to Tether. When the Ponzi ends a lot of people will be left with their dick in one hand, and a bunch of useless tokens in the other.Also;BTC WAS SUPPOSED TO BE A SOLUTION TO THE CORRUPT BANKING SYSTEM THAT CRASHED IN 2008. WHAT TETHER IS DOING IS PRETTY MUCH THE SAME THING BANKS DID BACK THEN.
>>29500438The DoJ has an investigation since end of 2018:https://www.bloomberg.com/news/articles/2018-11-20/bitcoin-rigging-criminal-probe-is-said-to-focus-on-tie-to-tetherI hope they slam down the hammer and fucks Tether.Sure, Tether might cause "price go up" and we get rich. But I unironically want crypto to succeed in the long-run and Tether is NOT a positive thing in any way for crypto.It just makes the pricing mechanism unreliable.
>tfw USDC gang and don’t have to worry
>>29500829
>>29502162>USDCOHNONONONONOhttps://twitter.com/DesoGames/status/1362337120556355585https://www.desogames.com/proof-that-few-if-any-dollars-back-any-stablecoin-theyre-all-tether/
>>29493707Funny you say that because Tether has been printing more money in the last 7 years than even Nicolas Maduro. And it's especially funny because Maduro also insisted that there was 4.3:1 parity between BSF and USD until 2017 when the entire thing crumbled.Tether is the Venezuelan Central Bank of Crypto.
>>29502270I looked into it, it was fake.You can check attestation on USDC's website, nothing out of the ordinary.
>>29488500You know you are going to burn, right?
>>29502270this guy doesn't sound very smart maybe there's fraud maybe not. I think USDC should be relatively safe.
LOL BTC 1000 EOY
>>29490497you need to go back
>>29494898Yes and put into ASKO
>>29498038US Banks are backed by the might of the US Federal reserve, which itself is backed by the most powerful government and military the world has ever seen.Tether is backed by "investors"
>>29494168>He thinks all those pumps in the last 3 years were organic
>>29489781this>why would the government don't destroy itselffucking retards
>>29489971might is right
>>29501400I know, that's my point. That would mean that they're in massive profit unless they're literally brain dead, a monkey could 1000x if they had that kind of leverage available.
>>29488500>>29488782>>29488905>>29488974>>29489230>>29489264>>29492903>>29495991>>29498566>>29501096>>29489303you know how assets and liabilities work on a balance sheet right? you know what is cash and cash equivalents right? you know the most basic accounting principles right? you're not that stupid anon, right?
>>29498886SHEEEEEIIIIT
>>29504108They clearly don't. Tether will be required to provide detailed data on a quarterly basis now and tether was not back for two (2) short periods of time.I don't get this FUD, it seems honestly fucking retarded or nobody is reading the actual results
>>29488500AHAHAHAHAHAHA 13% BLACKED?TETHER WAS MADE FOR THE BBC.
>>29504327because the theory is that their cash equivalents are actually btc or a similar risky asset but I suppose if they're getting audited now and banned in NY they'll just get flipped by the other stablecoins
>>29502162>>29502270What about BUSD bros?
>>29493247You’re fucking retarded
>>29504863backed by paxos
>>29498886MAKE 90% OF THE PUMPS
>>29494125They don’t have a single fucking dollar to back their tethers. Collapse this entire thing now and get it over with
>>29489018kek this level of cope
Tether has real value because some CPU time and electricity are actually required when the "create" button is pushed.
>>29489018yep, they used a sketchy local co-op bank in Poland and actually got their funds seized and the guy running their operation there was arrested for money laundering
Tether is backed by assets. Those assets are Bitcoin. Yes, this is a ponzi.
>>29504108>>29504327Tether claims to be 100% backed by USD. retards
>>29506571https://wallet.tether.to/transparencyhave fun staying retarded
Ampleforth.
you retards realise that even if Tether is fully backed it's still backed by bank USD right? and banks have a reserve of 1%, you can't name any bank that would let Tether withdraw even 2 billion, literally Elon Musk just has to try cash out his BTC for Tether -> USD and we'd be in for a 95% correction
>>29488500do you have any idea how banks work? this just means tether is more reliable than banks lmao
>>29506943I hope you can read anon. they issued more than authorised
>>29507259There are no smart contracts involved in what you're describing. They can just tell him he has to wait if he wants that much in bills. If he's keeping it digital it doesn't even matter, the reserve isn't touched.
>>29495008They already sold for USD so it does not matter. Tether FUD is bullish for Bitcoin.
>>29507561bro they have more assets than the market cap of tether, wtf are you on about? god damn biz is full of retards who can't into anything
>>29499905demon souls
>>29490236>Unironically yes are you a dumb child? The world is run by the man with the largest noseFtfy
>>29508343>they have more assets than capyeah I agree. You realize there is an ongoing case?
>>29489341Don´t know if bait but if not you´re a fucking absolute retard man. Feel kinda sorry for your dumbass
>>29506943>>29508343>Total Assets $34,931,457,074.10imagine such a dumb goy that you believe this
>>29508421demon souls is a game from over a decade ago.
>>29490603Very true and very real unfortunately, at least we can try to ride the crypto train and hope to be free of wageslaving at some point
>>29507504how do banks work then?