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/biz/ - Business & Finance

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>> No.19129889

Tetherbro?

>> No.19129896

>>19129264
So? I fail to see the problem.

>> No.19129905

It ironic that the argument for BTC is foten (((the big monetary inflation))) when the exact same manipulation is going in the very same market

>> No.19129910

>>19129264
OH NOES!!!!
OUR UNBACKED DOLLARS ARE BEING DIGITALLY REPRESENTED IN AN UNBACKED WAY!!!!!!

>> No.19129923

They are currenly under investigation. They are operating in a lagal gray zone, most likely, but they will be cracked down on one day.

>> No.19129929
File: 61 KB, 608x608, IMG_20200516_022105_046.jpg [View same] [iqdb] [saucenao] [google]
19129929

Is this 2017? Tether FUD? Looks like we're in a bull market guys, BUY BUY BUY

GRAB ALL THE SHITCOINS YOU CAN CAUSE IT'S GOING TO MOOOOOOOON

>> No.19129949

That chart in the op looks terrible btw. It´s most likely gonna have a correction soon.

>> No.19129951

>>19129923
>will be cracked down on one day
and on that day 1000 tether 2.0 will spring up and continue to blow your faggy ass out of the water.
face it.
you lost.
priced out.
forever poor.
laughing stock.
10 yrs straight of being wrong.
bleak future.
seething fat fag.

>> No.19129955

Why you care? the whole crypto world is just a bunch of scams and projects that seem really nice but that aren't useful except for speculation. Just get in, buy low, sell high.

>> No.19129972

>>19129264
that means you can predict btc price just by knowing how much tether they are printing. is this the secret to crypto?

>> No.19129989

>>19129972
yes
>>19129264
cope, tether fud is so 2017

>> No.19130458

>>19129972
Yes
The real question is whether it's really backed by USD or not
Few thoughts:
>case 1: it's backed by USD
bullish overall, not bearish in the slightest, it's real buying
>case 2: it's not backed by USD
bullish for now, FUD could come out of nowhere and you may not have the time to respond before the entire market implodes. USDT is a structural issue. Will completely fuck crypto for years
>case 3: USDT is backed by USD but the perception that it might not be creates crazy arb opportunities for exchanges
in that case, bullish, and then arb whenever there is tether FUD

you didn't read the last thing here btw

>t. insider

>> No.19130523

>>19129264
Actually the price is suppressed by tether. Once tether collapses all suckers lose their fake money. But they still want crypto. That's when you see a 1000% daily candle.

>> No.19130572

>>19129264
lol it's only like 25% fraud I think like 75% is backed by dollars

>> No.19130578

>>19129264
how is this any different from the fact that when you deposit 1,000 dollars in your bank, that bank can turn around and lend out 10,000 dollars of credit?

>> No.19130582

>>19129264
>these shitcoins are scams!
>this other shitcoin, however, is definitely not a scam!

they're all scams. get a job, nigger.

>> No.19130660

>>19130578
It's not how it works you dumb fuck. 10% reserve ratio means that it can only lend out 900 USD from your 1000 USD deposit.

Are cryptofags financially illiterate?

>> No.19130718
File: 1.28 MB, 3125x3988, 16494646465012415.png [View same] [iqdb] [saucenao] [google]
19130718

I've been telling peoples to buy ever since march 19 but I wouldn't do it now, I don't know why but I have a really bad feeling about this tether pump
the monster printing in may just as BTC crash 1.2k in minutes and now a lower high despise even more printing
on top of that the treasury sending hundreds of million straight to binance now, no hopes not hiding it anymore just as blatant as possible
I don't like it

>>19130572
that figure is completely wrong,it come last year when bitfinex had to admit losing 800M of supposed backing for USDT at the time 800M was about 1/4th of USDT market cap,
so idiots started saying "75% backed" but bitfinex never proved to own the 75% left all we know is that 25% far not backed AT LEAST
bear in mind that USDT MC is almost 4x larger now

>> No.19130828

>>19130660
J Powell got rid of reserve requirements over a month ago

>> No.19131084

>>19130718
Need to put in all the Money sent to binance over the past couple days. It easily tops 100 million

>> No.19131149

>>19129923
>They are operating in a lagal gray zone, most likely, but they will be cracked down on one day.
NNOOO you can't just post numbers on the internet! What do you think this is? The land of the free and the home of the brave?

>> No.19131189
File: 74 KB, 1449x649, boggedmbase.jpg [View same] [iqdb] [saucenao] [google]
19131189

>>19129264
*ahem*

>> No.19131210

Let me get this straight. Tether prints let's say a million free usdt. Then they buy BTC, then they transfer the BTC to USD. How is this not a money printing machine?

>> No.19131214

Tethers are a currency.

Just like every FIAT on the planet. Except that Bitfinex has them pegged to the dollar and will do everything in their power to peg them to a dollar. Same thing chinks and spics do.

>> No.19131235

>>19130660
nigger detected who cant think systemically
>deposit $1000
>bank loans out $900
>$900 loan deposited
>bank loans out $810
>$810 loan deposited
>bank loans out $729
etc...etcc...

>> No.19131243

>>19131210
It absolutely is...But so is the US dollar and youre not complaining about that.

money is not currency. Money is a store of value...like a gold or silver coin. Currency is a means of exchange.

>> No.19131247

To the guy calling everyone stupid maybe you should read the new reserve requirement laws where there is 0 deposit requirement for banks to loan now, and you are the faggot moron trying to act like u have a clue. Stupid nigger

>> No.19131251

>>19129264
Craig is going to kill himself

>> No.19131256

>>19131084
I don't list USDT transfer to exchange I don't want to go completely insane
I just record the print, mostly because CMC was not doing it while tether was printing every day

>>19131214
>Bitfinex has them pegged to the dollar and will do everything in their power to peg them to a dollar.
no they no longer claim to be backed

>> No.19131260
File: 180 KB, 680x407, boged.png [View same] [iqdb] [saucenao] [google]
19131260

>>19131189
the asset buying is even worse

https://fred.stlouisfed.org/graph/?g=gI4A

this week when it seemed to be ending they had to buy again kek.

>> No.19131262

monero sucks amirite guys?

>> No.19131268

>>19131210
if you hang out in defi and crypto exchanges enough though, you will see that tether is valued by the market at generally the same as the other legitimate stablecoins though, and has even had shortages lately with high double digit interest rates in lending. it's not treated as being something everyone wants to get rid of. it's on the same level as usdc in terms of its market treatment, both are less valuable than DAI in recent times. It's impossible for bitfinex to have such a wide reach as to cause this to be the case unless they are creating or representing some kind of real value through it. if tether was weak there would be plenty of signs and there are none.

>> No.19131332

>>19131268
unbalanced leverage and tether represents the 2 single biggest threats to an exchanges existence.

if tether wasn't redeemable or if there were shortages things like the 2018 and 2020 covid collapse would've exposed them.

further, given that tether is most widely accepted stable coin that even "professional" exchanges use, lends credence that is competently managed

>> No.19131373

>>19131268
>if tether was weak there would be plenty of signs and there are none.

t. the Madoff/Enron rube of the 2020s

>> No.19131396

>>19131262
I mean, if I were an automagic trading algorithm I'd sell everything I got.

>>19130458
If people that received those USD bailouts a month ago would actually end up using those papers, the USD would collapse too.
Both are unstable.
Also nice tip on the uncertainty game. Sounds like the people invested are in for a ride.

>> No.19131449

>>19131332
> if tether wasn't redeemable or if there were shortages things like the 2018 and 2020 covid collapse would've exposed them.
it is not, you cannot cash out tether directly, you have to buy something with it, then send that to A fiat exchange in order to cash out
the vast majority of this market isn't trying to cash out they are just trying to accumulate more btc/eth that's why the tether scam works
tether users have no intention to cash out, they just wait in USDT for the price of btc/eth to drop and buy the dip, if they want to cash out they don't sell btc/eth for usdt they go straight into fiat pairs


>further, given that tether is most widely accepted stable coin that even "professional" exchanges use,
that's why coinbase refuse to use it ...

>> No.19131529
File: 275 KB, 1080x1041, Screenshot_20200515011607_Brave.jpg [View same] [iqdb] [saucenao] [google]
19131529

>>19129264
Honestly it's only 8 billion in tethers
That's not that bad I think when btc's marketcap is some 250 billion
Even if it isn't backed 1:1 I'm guessing they're doing a kind of fractional reserve banking with tether
Which yeah I know that too sounds scary, but that's the same fud from 2017, nothing's really changed and even through the ridiculous sell off we saw in March, which you'd think might cause a run on tether, Bitcoin and the value of tether still held up

>> No.19131565

>>19131449
>coinbase refuse to use it ...
That's also better for the market as a whole USDC is a lot more trustworthy and this split between stablecoins among the big exchanges means tether has less to of the market to prop up if indeed it is fraudulent

>> No.19131601

>>19131529
this stupid fucking argument again
look at the trading volume

> Even if it isn't backed 1:1 I'm guessing they're doing a kind of fractional reserve banking with tether
well right now if all of tether was backed by btc, bitfinex would need over 900 000 BTC to back it

>>19131565
tether printed more than the entire mc of USDC in the last 8 days
tether represent 70% of all crypto to fiat/stable coins trading volume

>> No.19131618
File: 547 KB, 513x483, sweating.png [View same] [iqdb] [saucenao] [google]
19131618

>>19131601
How long can they keep this up

>> No.19131631

>>19129955
This
Get out before the music stops

>> No.19131645

>>19130458
>Pump ma bags nigga

>> No.19131675

>>19131618
> like I said
>>19130718
> I have a really bad feeling about this tether pump

>> No.19132027

>>19129910

I always get scared by the tether fud and this is the first time its been putnin perspective for me

>> No.19132244

>>19129910
kek

>> No.19132368

They're basically creating counterfeit USD in digital form. And getting away with it lolol

>> No.19132369

yes about 100 times slower than the FIAT money printing fraud.

>> No.19132380

>>19129951
I know right, how many stablle coins are going to rush into that!

>> No.19132414

>>19129264
I have a feeling were going to see an absurd flash crash of 60% within the next 2 months

>> No.19132658

>>19130718
>the monster printing in may just as BTC crash 1.2k in minutes
Yeah, it doesn't make sense that demand for tether would increase while BTC price goes down. Pussies are known for their strong hands

>> No.19132718

>>19129264
This is an important thread

>> No.19132777

>>19129264
Theres a shortage of physical USD on the market, might as well get the second best thing, some USDT. I wouldnt be surprised to see some big players in the emerging markets hedging with Tether since the BTC markets remained in a range since July '19.

>> No.19132814

>>19129264
just bought 100k

>> No.19132908

FUCKING MORONS. TETHER IS NOT A BANK OR THE FED.

ALSO TETHERS ARE NOT FUCKING CURRNCY OR MONEY AS BY THEIR OWN FUCKING TERMS AND CONDITIONS.

“Once you have Tethers, you can trade them, keep them, or use them to pay persons that will accept your Tethers. However, Tethers are not money and are not monetary instruments. They are also not stored value or currency. We do not guarantee any right of redemption or exchange of Tethers by us for money.”

NYAG Legal Case: https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=npvulMdOYzFDYIAomW_PLUS_elw==&display=all

>> No.19132983

If you think Tether is legit and competently managed: https://twitter.com/magnemg/status/1259488463814045697?s=21

Devasini was caught selling pirated software.

Der Velde is a fucking ghost. https://bitnewsbot.com/finding-van-der-velde-a-mission-to-unmask-the-ceo-of-the-worlds-largest-bitcoin-exchange/

“Bitfinex’s Chief Strategy Officer is Phil Potter, an ex-employee of Morgan Stanley, who was fired for boasting about his lavish lifestyle to the New York Times.

Giancarlo Devasini serves as the exchange’s Chief Financial Officer. In 1996, he was caught pirating and selling a substantial volume of Microsoft Software. Not terribly comforting.

But what about the exchange’s Chief Executive Officer?

Apparently, Bitfinex’s CEO is J. L. van der Velde, a Dutch man based in Hong Kong. In corporate documents, he is referred to as Jan Ludovicus van der Velde, but online, he is more frequently listed as Jean-Louis van der Velde.”

>> No.19133013

>>19132777
Why is USDT the next best thing in a year that has DAI BUSD USDC and soon UUSD

>> No.19133129

Because he is a brainlet.

USDT is not money or currency, or a financial instrument according to their T&C.

Basically, it’s a plain fraudulent counterfeiting operation.

>> No.19133416
File: 162 KB, 800x1036, Tether_bitcoin.jpg [View same] [iqdb] [saucenao] [google]
19133416

>>19133129

>> No.19133490

>>19129896
There will be no orders to keep buying pressure up so the price falls.

>> No.19133527

>>19129264
of course the establishment is against an improved and superior dollar, it is a direct threat to them

>> No.19133866

How the fuck is this an improved dollar, retard. It is fraud and counterfeiting however.

“Once you have Tethers, you can trade them, keep them, or use them to pay persons that will accept your Tethers. However, Tethers are not money and are not monetary instruments. They are also not stored value or currency. We do not guarantee any right of redemption or exchange of Tethers by us for money.”