/biz/ - Business & Finance

w-why did they stop??

God I wish I could breed her

Not only did they stop printing, everyone with half a brain knows it's not backed by anything. The quicker you can get out the better. I doubt there's enough cash liquidity for even 20% of the market

>>29890290
SEC lawsuit

>>29890348
thanks just sold 500k bitcorn

>>29890258
I want to bury my nose deep into her catgirl asshole and inhale

>>29890348
can you explain how it's not backed? when you want to get tether on an exchange you have to give them USD, people literally bought it with their money, pls explain
t. brainlet

>>29890258
PERKELE

>>29890412
let's talk about derivatives

>>29890301
you wonna have cat kids?

>>29890290
they are forced by nyagnigs to show their holdings every 90 days i think
https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal

>>29890402
hey that's a prime minister you are talking about
have some respect

>>29890571
I respect her so much that I would worship her perfect butthole

>>29890412
>can you explain how it's not backed? when you want to get tether on an exchange you have to give them USD, people literally bought it with their money, pls explain
Because who the fuck turns their USD into tether? Lol nobody does that. Way more turn their magical internet crypto tokens into tether and then into USD though....

>>29890412
because they print above the demand and use the printed tether out of nothing to inflate bitcoin and other shitcoins
it's for more convenient than to use real cash to pump up the prices like mt gox did with willy and marcus bots

>>29890605
suspected that might have been the problem. question then is, why the fuck does tether even exist? I go from usd to crypto then back to usd, the fuck are stablecoins for even

>>29890663
>why the fuck does tether even exist? I go from usd to crypto then back to usd, the fuck are stablecoins for even

You can only do that on centralized exchanges. Thats probably the biggest reason but there are more. Its really just for convenience for most people I think.

>>29890663
most exchanges are limited by legal issues in using real cash for trading, so to avoid that tokenized dollar stable coins were created

>>29890412
Tether prints $1B usdt. They buy BTC on bitfinex on the BTC/usdt market. Bots/normies etc now hold usdt and use it to trade and buy BTC at another date, or other coins.
Tether can then transfer their BTC to Coinbase, and cash out to real usd

This works all well and fine in a bull market, but if mass people start withdrawing actual cash, it will crash the entire market.

Lucky for tether the HODL meme is so strong, that you get ostracized and banned from any crypto related forum if you sell. All the smart people are selling, the hoard of brainless sheep will be left hodling

>>29890663
USDT is great for exchanges that don't want to follow rules and regulations. If you wanna be doing dodgy shit and exploiting your customers/selling your order books, it's much harder and riskier to use real USD because authorities will come done much quicker

>>29890412
Tether is backed by various currencies, including bitcoin. Which means if you own 1 bitcoin you can print like 50k tethers. So you can buy unlimited bitcoins with fake money. And it's only backed as long as bitcoin goes up.

That's the rumor.

I mean, tether, backed by nothing, did 100,000,000,000 in volume today.

It will indeed be an epic rugpull. Just maybe, not yet.

If you didn't immediately know Tether was a scam when it first came out you shouldn't even be in crypto.
>chinese digital counterfeit dollars
>people actually buy, hold, and use this

>>29890258
>he doesn't have a cryptoquant account
Lmao stay retarded,poorfag

>>29890258
She NEEDS to be blacked

>>29890571
>>29890594
Mommy Sanna is MY wife, don't talk her about this way

>>29890605

>into USD

who the fuck turns their USD into tether?

lmao

>>29890290
Printer broke.

Tether doesn't have to print anything. Everyone just needs to believe really hard that it equals a dollar. Just like real money.

>>29890290
if they get caught without backing for their shitcoins the case can turn into a federal RICO case and they will go to prison for a very long time.

>>29890258
>my PM looks like a pajeet shaman
>meanwhile suomi autists have a semen demon PM
It's not fair bros

Is there even any mechanism to exchange USDT with Tether for the USD equivalent?

>>29891723
i think you can do it on kraken

>>29890258
Imagine being so much ignorant at what is going on in the BTC space

>>29891519
the dollar is backed by the economic and military power of the usa anon

>>29891780
But not anything with Tether directly?

>>29891792
so tell me what bearish news was there to justify the dumping which just for no reason coincides exactly with when tether stopped printing

>>29890258
Have you seen what's happening on NYSE?

>>29891723
Yes, use a centralized exchange that lets you withdraw fiat and lets you trade tether (typically you will have to deal with draconian KYC laws). For example you can buy or sell tether on Newton if you don't mind showing yourself to the glowniggers.

>>29890258
if they stopped printing accoomulate usdt because we about to moon

>>29891810
A what?

>>29892299
10$ eow, buybuybuy

https://www.youtube.com/watch?v=y28Diszaoo4

>>29891810
This. I'm a believer in crypto, but any ancap telling you that fiat is totally worthless completely misses this point. Crypto might break governments' monopoly on issuing widely accepted currency, but governments have a monopoly on violence that won't go away, and as long as governments can tell people to respect their paper with the threat of force, fiat will always be worth something. That's how it always worked, even when money had precious metals behind it.

>>29890715
Also money laundering unironically

>>29890258
Christ is King. Sentinel and GAB go hand and hand OP

>>29891852
A mining pool has been dumping enormous amounts of BTC in the market.

>>29890731
>12 years of higher highs and higher lows
nice try beartard

Stock market is going down. Bitcoin will follow. BTC is just a speculative exstention of stock market. Not digital gold, not currency of itself, just a bubble.

>>29890731
>and cash out to real usd
So they sell their BTC? I guess they are not actually pumping the price and instead are holding USD for the TUSD they sold.

>>29892986
Buy makes it go up... Do you not know how shit works?

>>29890258
>The Treasury market has a flash crash across all maturities
omg guise nothing is wrong! Crypto is outside the system!1!1

>>29892986
>print unbacked Tether
>buy Bitcoin and other assets
>Tether is "backed" by Bitcoin and other assets
> Now they can print more Tether
> rinse and repeat

If they need real USD they can just sell one of the assets. It is a full ponzi scheme

>>29892775
This. Biz never learns.

>>29893206
I am 50% in stable coins right now and I took profits from my shitcoin positions, even if the market dumps completely right now, I am fine with that.

>>29892734
yes i'm sure that it's in the interest of mining pools to supress the price of btc retard

>>29893038
>buy some BTC
>sell same BTC
>This magically makes price go up.
Do u GuYs nOt KnOw How ThInGs WorK?

>>29893395
they took profits you dumbfuck

its because the fed is raising interest rates.

/thread

>>29892515
Fiat depends on confidence. Confidence isn't there if violence is the only method of utilization. Chinese can tell you that. Capital flight is a byproduct of loss of confidence

>>29893440
cool and mining pools sell the fucking mined tokens all the time
who does that justify the constant fucking dumping and bleeding of btc for this entire week?

>>29893583
yes i'm sure that bitcoin buyers and hodlers are instantly going to sell because interest rates have changed
>implying most of them even know wtf interest rate are
fucking kek

>>29890731
>transfer their btc to coinbase
change this part and you got pretty good fud, but thinking that chinks with their own unregulated exchange would transfer to unclesambase is too much to believe

>>29890290
>>29890258
they stopped because everybody tethered up from crypto, so no one is buying it for usd retards

>>29894573
who the fuck was buying 1 billion tethers a day retard?
musk unironically bought directly on coinbase

>>29891033
You need to be euthanized

>>29894777
prove him wrong

>>29894617
look at the market cap mongol, crypto at its peak was above 1,5T, also big buyers dont use SEPA, wire or credit/debit card buy options mongo, they do it behind market to not fluctuate prices much, its straight up trade from hand to hand

>>29894895
kill yourself mentally ill cuck

>>29890663
Because taking dollars in this way for tokens means you are basically a bank and banks have alot of regulatory requirements...

>>29890301
>>29890402
>>29890594
>>29891367
>her

>>29894975
you don't understand how the m cap works
>have shitcoin with 18 million supply
>small amount on exchanges gets pumped up by trading bots
>now you multiply the total number of tokens x the current price
>but there really isn't that much money in the market
also, we know who bought and we also know how and when they did it, and nobody among them used fucking tether
stfu retard

>>29895151
sometimes I wonder if I should stop making money off retards, but then fags like you come along and it just fuels me to continue

enjoy ur stay

>>29895310
hold my bags dear redditspacing newfag

>>29894573
This

>>29894777
Digits of truth.

>>29890258
Wtf, fingloids look like THAT?

>>29893395
Well, the evidence is a little worse.
F2pool outflows are usually a steady level fewer than 1k a day. In recent weeks they have been dumping 50k. The claim is, they are opening massive short positions, dumping there btc that they mined for like 6k per coin, the shorts fill on leverage, and rebuy.
>Sell coins that cost 6k...profit
>Short on leverage...profit
>Market sell enough coins to fill order book
>Buy back
They literally profit every single step and end up restacking in the end.

>>29890258
Who she

>>29896297
finnish catgirl

>>29896332
Name

>>29890290
Biz fud

>>29890605
But that magic Internet money went up in value because someone at some point injected actual cash into the system. It won't be a 1 to 1 but it isn't exactly massively off.

>>29896221
but why now?
why did they started this dumping game the same day as tether stopped printing?

>>29896446
it's the finnish prime minister faggot

>>29893361
What are the best stable coins

>>29896729
The only faggots are the people that voted for this loser.

>>29890982
>muh Tether FUD
This isn't 2017 anymore

Hey I know tether is kinda, but what about DAI? Every exchange in my country has DAI. People here buy it to bypass the USD buy restriction (we can only get 200USD every month).

>>29896729
They didn't, they did it last month too and it lead to 42->30k bitcoin. Check the outflow/inflow charts.

>>29890258
Hey I know tether is kinda shaddy, but what about DAI? Every exchange in my country has DAI. People here buy it to bypass the USD buy restriction (we can only get 200USD every month).

>>29897197
dai and usdc are safer dear bot

there are too many stable coins now, tether can die and the rest will absorb it

>>29890982
Explain to me why Tether is a scam and USD isn't.

Gold Secured Currency ecosystem is rising super speedy
So there is no reason to hold back
Join fucking amazing Swirge and make money with fun
>I bought GSX, token price got great liquidity this year

>>29891841
I spent a lot of time looking for proof of this ever happening. The closest thing I found was the ftx people (also heavily reliant on tether success) saying that they had, but refusing to provide any proof. It also heavily implied that their redeem requests were paid in BTC and not USD.

>>29896890
Dai is gonna moon any day now

>>29897704
USD
-required for paying US taxes
-required for trading oil
-backed by a 1 trillion/year military

USDT
-used to trade derivatives on magic coins
-backed by either nothing or some magic coins