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/biz/ - Business & Finance

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19290897 No.19290897 [Reply] [Original]

No rest for the tether printers!

>> No.19290929

amazing

>> No.19290947
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19290947

>No rest for the tether printers!

>> No.19291011

what if people are storing their money in tether because they trust bitcoin backed money more than the FED

KEK

>> No.19291021

Brrrrrr

>> No.19291031

>>19291011
Tether isn’t backed by Btc tho

>> No.19291058
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19291058

based tether dethroning ripple for #3

>> No.19291097
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19291097

>>19291011
tiny dim brain: who controls the fed
lit up galactic brain: who controls the printing of tethers

>> No.19291109

imagine if bitcoin were still $3k right now, the bitcoin chain would be frozen due to miners turning off. tether is backed by the US dollar and the dollar is entering hyperinflation next year, so even if tether is totally legit it's going to fail.

>> No.19291122
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19291122

>>19291011
Exactly my thoughts, despite all the printing/balance sheets shenanigans, there's a shortage of physical USD right now. Shithole countries that can't access USD would rather find refuge in USDT than in their meme local currency. We're gonna be entering a deflationary phase sooner than later.

>> No.19291164
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19291164

>>19291109
tether is backed by eth

>> No.19291181

>>19291109
How do I profit off this?

>> No.19291183

>>19291164
wait when did tether move away from OMNI

>> No.19291268

>>19291164
so let's see
> 9 billions usdt
> eth current price $207
that mean bitfinex need 43 500 000 ETH ( a little over 1/3 of the total supply ) to back usdt at the current price

>> No.19291277

>>19290897
cryptotards: guys crypto is the future! fixed supply! muh FED bad! printer go brrrr! fiat worthless!
also cryptotards: KEEP PRINTING MORE TETHER BITFINEX GOD BLESS YOU PUMP MY BAGS LMAO

>> No.19291282

>>19290897
This is only bad when they go beyond what the FED is putting out. If they are merely keeping up its 100% ok

>> No.19291373

>>19291282

It doesn't mean anything as long as you can go on multiple exchanges and sell your tether for $1. Tether has before bought back tether using their reserves to maintain the $1 peg. Printing tether is bullish because it means money is flowing into crypto as a whole.

>> No.19291441

>>19291011
>>19291122

Tether isn't backed by BTC. Its pegged to $1. So tether is at list as risky as the dollar. And in order to get a tether you have pay $1. Well a little less because of the extra risk but its not like its easier to get tether than a dollar. How can you get tether without having $1 or $1 worth of bitcoin?