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/biz/ - Business & Finance

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24814665 No.24814665 [Reply] [Original]

wtf is this? In the past 3 months, there has not been a single change in tether supply that wasnt an increase. Shouldn't a 70 million dollar burn be mega bearish? Shouldn't this mean we are about to crash through the fucking floor?

>> No.24814686

why would that imply that? it just means that usdt was redeemed for usd with sufficient quantity to warrant a contraction. take your fucking pills, OP.

>> No.24814839

>>24814686
Then why has this not happened in the past year? This is the first person of any wealth to redeem tether? Zoom out on a tether chart. This has not happened in at least 3 months and we are at ath. It doesn't make sense for this to be the first legitimate net tether burn

>> No.24814897

>>24814839
because tether is a centralized entity that operates how they choose to operate

>> No.24814949
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24814949

>It just doesn't make sense bro, this has to be something!!!
it's not a fucking smart contract that reacts based on individual tether redeems. the supply of tether can be overcollateralized to whatever degree they choose given that they stay inside of whatever regulations they fall under in their jurisdiction.

>> No.24814996

>>24814949
>the supply of tether can be overcollateralized
You can't be serious

>> No.24815021

>>24814996
if you're one of those bitfinexed idiots who believes that tether is unbacked and it's all a shell game, there's no helping you, it's incurable, sorry.

>> No.24815037

>>24815021
Jan Ludovicus van der Velde typed this post

>> No.24815450

>>24815021
You fucking retard. Short term debt =\= cash. Short term debt can become illiquid. The only time short term debt becomes illiquid is when everyone wants money. obviously it's not 0% backed you retard, but it is fractional, or they would just publish a fucking audit. This is the crypto equivalent of bank balance sheets declining for the first time in a cycle. "It doesn't mean they're going bankrupt". No shit. It does mean that they see risk on their balance sheet they want gone or their clients are doubting their parity.

Like I said, if this is normal business, why hasn't it happened a single time in the past quarter?