/biz/ - Business & Finance

>>30062741
HERE WE GO MEGA MOON. BUY BUY BUY

>>30062741
God i Hope tether printers go brrr, I need to make It asap

>>30062741
What the fuck does this mean for the brainlets like myself?

>>30064518
BRRRRRRRRRRR

>>30062741
How does tether have this much money?

>>30064518
Poomp it

>>30064518

BIG
PRICE
RISES

BUY, YOU FUCKING NIGGER

>>30064518
Tether prints 400m out of thin air, trade it for bitcoin and price goes up.

>>30064518
Tether is printing "dollars" with zero backing to artificially pump BTC and launder the printed money

>>30064518

>>30062741
help is on the way

BITCOIN WILL BE PAMPM

>>30064591
They have a good printer

>>30064518
Tether props up BTC for a little while longer, no crash in the short term.

>>30062741
>>30064855

>>30064756
>with zero backing
rad their website, it literally says that its not backed by usd

>>30064518
400 mio more usd are being pumped into btc

Huge buy signal

>>30065147
Yeah and it's also not backed by anything else lmao

>>30064518
Imagine a central bank whose funds are guaranteed in pokemon cards and MMORPG currencies, and that it is more reliable than most central banks.

It means that someone needs to sell a large amount of Bitcoin to Tether, and the exchange currently does not hold that amount.

>>30062741
>BZZZZZZZZZZZZZZZZ
Yes this is the Tether treasury?
>Pump it

>>30065047
Fuck i just saw you posted the same meme

>>30065494
No, it means someone had USD and wants to buy BTC with it so he converts to USDT to he can deposit it to exchanges and by crypto with.

>>30062741
Doesn't that mean moon? Like what am I missing

>>30065494
Yeah that is backwards.

WHY ARE WE DIPPING AAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>>30062741

>>30062741
>Ze bears shorted? Good. Poooomp eeet

>>30065984
>>30065820
I hope so. This usually doesnt result to anything other than a delayed pump but usually it's a large dump

>>30064518
I'm not sure why these people are making these claims. USDT is backed by fiat currency. Someone had to deposit cash for USDT to create more. Every token is backed by USD, EURO, or JAPY.

>>30064756
>>30064717
When they print it, where does it actually get deposited to?

>Prints billions of their own monopoly money to flood the market
>Backed by literal thin air

How the fuck is this not highly illegal? These guys should all be in jail.

>>30066760
>When they print it, where does it actually get deposited to?

To the tether address of the one that wired the fiat currency to tether's bank account

>>30064717
Not really, they print it when people deposit real money for tether. If people put 500mill usd into systems in 1 week then they print it in 1 big batch

>>30062741
scam print

>>30066948
oh, lol so they are a bank that loans out your money to whoever, and if there was a run on the bank not everyone would get their money out, because they only have so many reserves, and it isn't backed by the us government.

I'm sure nothing could possibly go wrong.

>>30063164
do you understand how inflation works anon?

USDT is backed 1:1 by real dollars.

tether fud is 100% dead. anybody bringing it up now are just buttcoin levels of mad.

usdc is 25% of all tether and catching it up, and thats 100% audited. btfo

Is TUSD or USBC legit?

>>30065047
came here to post this
>EVERYTIME

>>30062741
its banned in NY, sucks for them not us

>>30067226
Holy fuck you are a fucking retard aren't you?? It works like this:

>be hedge fund/big player
>have $1 billion in bank account
>want to day trade/arbitrage/margin trade cryptocurrency on MULTIPLE exchanges extremely fast
>wiring my $1billion to multiple exchanges takes at least 24-48 hours due slow banks

Here comes Tether:
>call bitfinex
>"Yea I want to exchange my $1 billion into $1 billion USDT"
>"Sure, deposit $1 billion to our bank account with reference code XYZ"
>*wires $1 billion*
>"Ok we received your $1 billion, we will mint $1 billion USDT and send it to your USDT address"
>*takes 10 minutes to transfer your USDT to your address*

Now you have $1 billion USDT you can send to multiple exchanges (Binance, Kucoin, Gemini, Huobi, Bitfinex, Kraken, Coinbase etc.) without having to wait 24-48 hours if you transferred instead with USD banks through wire transfers.

>>30067669
kek
And you think that means that New Yorkers can't and don't buy it?

>>30066627
It’s called fud

>>30065432
fuck you got a good chuckle

>>30064518

nothing. usdt is a stable coin, it's like dollars. it used to be the only one, but now there are like 50 different stable coins. it's been FUD since 2017 that tether would collapse or something and crash bitcoin but at this point no one gives a fuck about tether since there are like 50 alternatives.

>>30064518
SELL SELL SELL
GET OUT NOW
QUICK, SELL EVERYTHING OR YOU WILL LOSE EVERYTHING
THIS IS THE CRASH
GET OUT NOW

>>30067831
Wikipedia for tether says this:
>Tether claims that it intends to hold all United States dollars in reserve so that it can meet customer withdrawals upon demand, though it was unable to meet all withdrawal requests in 2017.[41] Tether purports to make reserve account holdings transparent via external audit; however, no such audits exist.[12] In January 2018 Tether announced that they no longer had a relationship with their auditor.

They clearly only have a certain amount of reserves, like how banks are required to hold a reserve ratio of 10% (prior to pandemic). This is how banking works. The don't have an account with 35 billion dollars sitting in it.

>>30067353
It literally isn't, thats why they are banned in New York

>>30066627
LMAO

read the NYAG settlement. In 2017 they had NO reserves, but now they have over 35 Billion dollars of reserves? Just interest alone on that give the shittiest interest rate, would be in the MILLIONS. These guys have nothing and therefor havent been audited.

>>30067353
Until it isn't because they don't have 35 billion dollars in reserve.

>>30067831
lol he believed them....

also get your facts right nigger, coinbase does not accept tether

Load ze Tether fud.