/biz/ - Business & Finance

how does bitfinex explain this

>>4411867
HE'S BACK

SAGED

USD printed each day: 560million

https://www.treasury.gov/resource-center/faqs/Currency/Pages/edu_faq_currency_production.aspx

Muh 30mil tether

>>4411900
They dont, nobody talks about it and they got the bank that is backing Tether in Thailand. Fucking Thailand.

This picture is the tether issued from 1 month ago, take in account they issued near 300 millions in the last month that doesnt appear in the picture. They are issuing every time more.

>>4411867
WE'RE SO FUCKING DONE... THIS MARKET WILL COLLAPSE AND CRUSH EVERY SINGLE ALT (with a few exceptions). CAN WE EVEN RECOVER FROM THIS? It does make sense, though... I mean, why would a shitcoin like BTC ever pump, without fake fraudulent "tethered" tokens? What kind of dump animal would buy such a waste of digital tulips?

What if was just someone that bought a lot of bitcoin?

>>4411926
This argument is retarded.
USD have a value limit that was a deal north america had after second world war with the rest of europe. It can't go under certain limit cause inflation, educate yourself.

Also "IF ONE OF THE MOST USED COINS IN THE HISTORY CAN PRINT 560 MILLIONS, BITCOIN CAN TOO".
Roflmao. Get ready to get ur ass broken,

>>4411943
It isnt, I'm gave you proves in the first post, you can check the issuing usdt wallet and check how the pumps ARE EVER fitting the tether issues.

>>4411926
fuxking brainlet. value gets created out of thin air to magically pump bitcoin.

has zero to do with the usd. investors into btc at this point can get seriously fucked and burnt

bump for awareness

I really dont agree, for example, i use bittrex. and use tether. So when i sell any coin (btc, bch or any other else) i receive tether. for each USD on USDT. So they replace USD for USDT, do you really think they are creating coin? or they are selling tokens? because it's diferent.

>>4412050
here.

>>4411963
>>4412010
I think you don't get it. It doesn't matter if USD or USDT value gets created out of thin air when the exchange rate is 1:1

If the FED prints a shitload and then people go and buy bitcoin with that money is not much different from finex creating USDT and buying bitcoins with it.

Your're blindly trusting that this shit has value. Think about it like this: it's not bitcoin gaining value, it's USD losing value against bitcoin.

>>4412062
>>4412060
dude u are delusional. Look at this picture. if u dont get whats happening u are just a brainlet

Yap.. that's it.. in a lot of traders you cannot choose, they use USDT (tether), but they are replacing it for USD, so it's quite possible to 30000 USDT per day or even more.

>>4411926
Im genuinely curious to know why you think either of these situations are okay

>>4412060
It's wrong that they must have 1 USD for 1 Tether. This is not how fractional reserve banking works:

https://www.investopedia.com/terms/f/fractionalreservebanking.asp

>Banks with assets of less than $110.2 million but more than $15.2 million have a 3% reserve requirement, and those banks with over $110.2 million in assets have a 10% reserve requirement.

Tethers are tainted with laundered funds from BTC-e. It's only a matter of time before they get a taste of extraordinary rendition.

Should i gtfo btc

>>4412083
It's exclusive right for banks not for fuckin cuck company tether. Tether will be closed and BTC will free fall because normies don't want to believe we are on bitfinex ponzi scheme

>>4412062
the problem with that is a dollar is legal tender. You cannot redeem USDT for anything. You can only sell it to some other chump.

>>4412110
Well, they have a bank in thailand that issues the money for them?

Man... calm down.. Everytrhing is gonna blow someday? Yes of course.. It happened with stocks market, with banking... it will happen in here.. it's called a huge market correction! It will happen. but it happens in every place, so deal with it. and get along.

>>4411930
im very scared of the tether thing but this graph doesnt look thqat much doom and gloom.....most issuance was done at tops and during dips, never at the actual dip. so people sell at tops, we get more tether.....they wait it out, once the trend resumes they buy back in...

What would be really worrisome would be if they were issuing more usdt at the dips..

only dip where they were issuing tether was during the china panic, but i dont find it hard to believe that there were tons of people selling into usdt during that phase because it really was total panic.

as more fiat enters crypto, and as crypto growws, it seems pretty "normal" there will be also more tether issued..... oh dont know.....i still dont like it

>>4411943
They did, but with fake money.

>>4411867
literally fudding tether to make btc crash.

you know whats despicable about this? if you fud tether we have nowhere to hedge when btc crashes.

you will ruin the lives of countless people and probably cause suicides just so you can profit by fudding.

tether is legit and you are actually legitimately evil.

>>4412129
every time we talk tether someone trys to shill this. YOU DON"T HAVE TO SPEND TETHER THE SECOND YOU CREATE IT.

>>4411867
When Bitfinex says btc/usd pair they really mean usdt??? Wtf mate really?

>>4412155
cope

>>4412155
0.05 tether has been deposited into your account

>>4412177
>>4412181
you guys are fucking idiots you want to kill the market over a conspiracy panic that has no basis in reality seeing as tethers operations are 100% legit.

>>4412159
explain please, how is that a counter-argument to my argument (seriously, didnt understand your point?

>>4412198
>tethers operations are 100% legit.

>>4412198
>no basis in reality
Almost a billion tether has been created
No audits have happened. Nobody knows if Tether is legitimate or not. Bitfinex doesn't even have a fucking bank servicing it anymore.

If the market dies, it wont be our fault. It will be Tethers.

>>4412284
not even true.

there has been audits. you must be seriously evil to want to crash btc and leave people no way to get out of it destroying their entire savings.

what youre doing, this kind of fud is illegal in the united states too.

>>4412332
>there has been audits
source me a third party audit and ill send you an eth

>>4412373
why would i want your eth if you're about to kill the whole crypto market because some old guy is paying you to do so.

>>4412373

https://tether.to/wp-content/uploads/2017/09/Final-Tether-Consulting-Report-9-15-17_Redacted.pdf

0xfd6C71F8821894Da8c789Ac7cE92777ac9ca9828
Thanks

>>4412410
no.
https://medium.com/@bitfinexed/the-so-called-tether-audit-that-isnt-an-audit-at-all-5a40cfcc2a75

>>4412410
get rekt by >>4412418

>>4412418

Hey, I was asked for a third party audit in return for 1 eth. That's what I provided.

>>4412418
Don't you realise it's all one retard that's making all these tether conspiracies?

It's not an audit, it's more like a proof of reserves. It shows they have the cash.

If finex wanted to make free money they would just edit numbers in their database, why the fuck would they print it on the blockchain for all to see?

were looking at a possible mt.gox 2.0

>>4412471
Hey pajeet, learn how to spell

>>4412155
Are you literally insane? You can edge in actual USD or EUR in most semi-respectable exchanges. You can edge in BCH, ETH, XMR... There's so many options. FUDing anti-tether discoveries because you want Bitcoin to climb is one thing, but actually holding USDT is downright retarded.

>>4411867
And what if you're on a legit exchange like gdax that uses usd rather than usdt?

>>4412471
more like mt gox 10.0

OP is an absolute moron.