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/biz/ - Business & Finance

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25308229 No.25308229 [Reply] [Original]

Listen up niggers, we gonna print $1 000 000 000 USDT today so the price will break $30k. Buy it with your real money you get from working in McDonald and buy our bitcoins.

>> No.25308256

>>25308229

I don't get real money from working, I just get dollars.

>> No.25308281

Tether inflation is still lower than USD inflation so I don't see what the issue is.

>> No.25308321

>>25308281
>20% of all USD was printed in 2020: MUH HYPERINFLATION FED PRINTER BRRRR
>85% of all USDT was printed in 2021: Tether inflation is still lower than USD inflation so I don't see what the issue is.

>> No.25308369

>>25308321
>20%
After this round of stimulus check we'll be closer to 50% since right now we're close to 40%

>> No.25308443
File: 9 KB, 299x206, 4C3AE909-0A6E-480B-BE95-6AD203C78942.jpg [View same] [iqdb] [saucenao] [google]
25308443

>>25308229
Fuck why couldn’t I have come up with tether, the crypto federal reserve. Literally the greatest scam, they literally printer over 20 billion out of thin air by hitting enter, they literally have no reserves they just lie. While I have to work night shifts at McDonalds on the weekends.

>> No.25308452

>>25308369
Look, pal, I ain't a fan of the goddamn Federal Reserve, but let us pretend it really is 50% like you said.

Bitfinex would still have printed 150% as many fake dollars as the Federal Reserve in the same time frame (and rising: another $1billion expected before 2021), and using it to buy the same asset as you are, except you need to use real money to buy in.

>Tether inflation is still lower than USD inflation so I don't see what the issue is.

>> No.25308602

The tether collapse will take btc to 200k screenshot this.

>> No.25308736

>>25308602
200,000 Indian Rupees sounds about right
About $2,700

>> No.25308819
File: 21 KB, 469x653, images (1).png [View same] [iqdb] [saucenao] [google]
25308819

>>25308256

>> No.25309096
File: 174 KB, 1080x831, IMG_20201230_010214.jpg [View same] [iqdb] [saucenao] [google]
25309096

>>25308229
How is Tether FUD real? Let me just get a random whale from whale alert. There. 200 million moved just like that. If he decided to Tether instead that Tether has to come from somewhere. People panic when 200m Tether are printed but when 200m Bitcoin are moved around and sold it's normal.

And even IF Tether turns out to be only 70% backed, it would cause Tether to crash. Not to 0 but to 70%. It would mean people would learn to look into decentralized Stable Coins like DAI or sUSD. Maybe it causes a temporary dip cause the Tether FUDDERS get shaken out but overall nothing would change honestly. Binance would have to restructure their derivatives market

>> No.25309447

>>25309096
The 6,500 BTC belongs to an exchange that bought it with USDT. Total (real) cost: $5.

DeFi loans out BTC to each other on the understanding that the value is real. If USDT collapses, DeFi ecosystems will self destruct overnight.

>> No.25309746

>>25309447
If you put USDT into the DeFi system you bought that Tether with real money. Even if Tether can't redeem it, if you are a Tether hodler you'd want real money for it, so you're not selling below 1$
It wouldn't crash Tether immediately, just slowly dip the price while people switch to other stable coins

>> No.25309837

>>25309447
Lmao idiot what is curve

As soon as curve USDT-DAI, USDT-USDC health begins to deteriorate most DeFi will be swapping collateral AUTOMATICALLY to other stable coins via curve

What a boomer

>> No.25309872

>>25309746
Ironically DeFi stabilized Tether a lot. Now that a lot of people have loans in Tether, they are pegged to the collaterals. So if people want to get their collaterals they have to repay in Tether. Which means some people will have to buy Tether. It's not gonna be a dollar but there will be some buyers.

>> No.25309911

>>25309872
The funniest thing if Tether becomes a free market commodity and it turns out that Tether is actually worth MORE than the USD because the ridiculous money printing of Tether can't even be compared to FED printing. Can you fucking imagine? Tether loses its stable coin status and it goes UP because it's not pegged to the USD anymore? Would be fucking hilarious to instead of having a wave of FUD have people realize how fucking broken and worthless USD is

>> No.25309966

>>25309911
>level of cope i never thought possible
Is it possible to teach me this power??

>> No.25310065

>>25309966
I don't believe this will happen, but it's a possibility nobody even thought off. If it happens and everybody loses their shit and can't explain why this happens... Feel free to post my post as screencap