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/biz/ - Business & Finance

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5120677 No.5120677 [Reply] [Original]

Yep, I'm sure they just happened to have HALF A BILLION DOLLARS just lying around.
Always good to have an extra 500 MILLION DOLLARS in case you need to spend it in less than a month
This is all totally backed, absolutely.

>> No.5121467

bump

>> No.5121504

>>5120677
I believe at this point they're claiming to have an entire billion in cash actually.

>> No.5121653

>>5120677
The scam that ruined crypto. Who gets to play the lead role once this goes straight to video-on-demand film?

>> No.5121672

COPE

>> No.5121710

So what you're saying is, buy bitcoin NOW?

>> No.5121840

>>5120677
so what? banks also don't have the money they claim.

>> No.5122657

>>5121840
>being this retarded
banks are audited every year. Their Debt/equity-ratio is regulated. In addition they must carry 10-20% (depending on country) of their liabilities in liquid format.
None of this applies to Tether

>> No.5122793
File: 326 KB, 498x462, 1481488985886.png [View same] [iqdb] [saucenao] [google]
5122793

>>5120677
>he thinks you need to physically back something that does not exist outside cyber space

you dont and this con can run for years without issue.

>> No.5122840
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5122840

wait, is this what caused the bitcoin surge?

>> No.5122870

>>5122840
You must be new here

>> No.5122905
File: 59 KB, 300x477, 1368149718359.jpg [View same] [iqdb] [saucenao] [google]
5122905

>>5122840
Oy vey the goyim know SHUT IT DOWN

>> No.5122922

>>5122793
It can run until a significant amount of people want their money. That could be tomorrow or in 100 years. Time is not a factor dummy

>> No.5122954
File: 44 KB, 474x601, itsallsotiresome.jpg [View same] [iqdb] [saucenao] [google]
5122954

>>5120677
cant wait for Mt Gox 2.0 : The Tethering

>> No.5123012

>>5120677
can someone explain this?
are you saying that exchanges are translating your money to tether and using that to trade other crypto ?

>> No.5123130

>>5120677
I have a feeling that Tether was creates as a way to allow risk-averse traders to bail temporarily into fiat if they are unsure of what a coin is going to do. That cash isn't in a bank, so Tether was created as a placeholder for those dollars until the trader was ready to sell it and get back into a coin

The problem was, whenever a Tether got turned/traded back into coins the token never got burned. It just sat there as if it still represented a dollar

This house of cards will surely blow wide open

>> No.5123186

>>5123130
wink wink

>> No.5123244
File: 179 KB, 620x459, 29103330194.jpg [View same] [iqdb] [saucenao] [google]
5123244

>>5123130
what seems to be the problem?

>> No.5123280

>>5123130
Supposedly there's a billion dollars just sitting in an account somewhere, 1 dollar representing each tether. Every usd trade done on bittrex and probably others is represented by tethers. Considering that it's not surprising that there's a lot of them.

>> No.5123416

I tried Googling some of the names of the 'team' and came back with nothing.

>> No.5123453

>>5123244
Great image.

>> No.5123485

>>5123244
fucking classic

>> No.5123852

>>5123012
Exchanges don't have your money dummy. You EXCHANGE it with other people, it's in the name, an exchange is just a platform.
This means that in order to back 500 MILLION DOLLARS worth of tether, bitfinex must be making 500 MILLION DOLLARS in profit per month. That would make it one of the biggest companies in the entire world