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25870923 No.25870923 [Reply] [Original]

Explain to brainlet this:
How has emission of tether pumped bitcoin price?

Hardmode: no swear words

>> No.25870948

>>25870923
Chinese Jews

>> No.25870964

Fuck up cunt

>> No.25870970

Bitcoin is backed by Tether which is backed by Bitcoin. Biggest ponzi ever.
Increasing one, increases the other. Because Bitcoin is a fixed amount, only its price increases.

>> No.25870999

>>25870970
When did Bitcoin become backed by Tether? Did they start simultaneosly?

>> No.25871003

>>25870923
1) Print USDT
2) Buy BTC for USDT
3) Tether reserves has increased, goto 1

But the funny thing is that BTC costs 35k even without Tether manipulations, as proven by the market lately.

>> No.25871006

>>25870970
how has Bitfinex not managed to compensate for this by now though? you'd figure they would have made enough off this scam by now to actually be solvent.

>> No.25871076

>>25870999
Tether admitted that their backing including mixed assets and not just 1:1 dollar reserves. A unknown percentage of these mix assets are bitcoin.

>> No.25871164

>>25870999
>When did Bitcoin become backed by Tether?
when Tether established itself as the default trading pair for Bitcoin
>Did they start simultaneosly?
no, i think Tether is like 6 years old or something

>> No.25871224

>>25870923
it's ancient fud which went nowhere in 2017 as well

>> No.25871249

>>25871224
the fud is real, and it was exist until they either publish transparent financial reports or exit scam

>> No.25871284

>>25871249
Even if they exit scam do you think they’re just going to drop all their bitcoins on the market?

>> No.25871286

Tether is what is used to commit arbitrage between exchanges
>you have a bitcoin on Bitfinex
>Bitcoin on Bitfinex is worth 12500 dollars
>Bitcoin on Coinbase is worth 12000 dollars
>sell your bitcoin on Bitfinex for 12500 tethers
>send your tethers to coinbase
>buy bitcoin on Coinbase for 12000 with your 12500 tethers

Now, this is how the price is pumped
>Bitfinex asks Tether (the company) for 300 million tethers
>Tether sends Bitfinex 300 million tether and writes down that Bitfinex owes them 300 million dollars
>Bitfinex uses smurf accounts to buy Bitcoin with Tether in bitfinex
>>this pushes the price of Bitcoin/Tether up on Bitfinex
>1 Tether = 1 USD
>you notice that Bitcoin is worth more on Bitfinex
>you commit arbritage
>the overall price of Bitcoin goes up
>the owners of Bitfinex can therefore control the market

Basically, what central banks do to house prices.
https://www.investopedia.com/terms/a/arbitrage.asp

>> No.25871330

>>25871286
If people do this then the price on Coinbase goes up to match.

>> No.25871338

>>25871076
A lot of those assets are 'loans to affiliate companies'
I don't think that exchanges have hundreds of millions in liquid cash. Part of the 'backing' of Tether is the debt that was used to buy the Tether.

If you think it sounds fucked up, you're right. It is.

>> No.25871360

>>25871330
Yes.

>> No.25871377

>>25871360
So...? What does this have to do with anything?

>> No.25871393

>>25871284
Is Tether is busted, something like 50% of daily trading volume instantly vanishes. Iliquid markets have huge slippage and prices will crash.

>> No.25871411

>>25871284
bitcoin will be fine either way, i'm sure it'll be $100k+ in a few years regardless of what happens with tether. in terms of short-medium term dumping it would be catastrophic though. i'd expect a year or two of bear if and when it happens

>> No.25871440

>>25871377
they pump the price on bitfinex with fake tether so that people(arb bots) buy tethers on coinbase to move to bitfinex.thats the entire point

>> No.25871447

tether gets 10M USD to mint 10M USDT. now tether buys 10M USDT from itself with the 10M USD to buy bitcoin. but wait now they have another 10M USD...

>> No.25871469

>>25871440
>buy tether
buy btc*

>> No.25871470

>>25870923
It's a completely delusional fake news coming from seething nocoinsers that barely grap how the market cap stuff works.

>> No.25871506
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25871506

>>25871286
Oh, what the fuck? To what extent do you think this explains the recent ATH?

>> No.25871526
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25871526

>>25871377
>How has emission of tether pumped bitcoin price?
>>25871286

>> No.25871543

>>25871470
this is either disingenuous or hilariously misinformed

>> No.25871571

>>25871470
January 15th. Clock is ticking.

>> No.25871588

>>25871506
https://www.bbc.com/news/technology-54630283 + stimulus checks + recent halving

>> No.25871596
File: 236 KB, 489x382, 1602783086370.png [View same] [iqdb] [saucenao] [google]
25871596

ITT- people who have no idea how crypto markets work trying to explain them.
happy to see my edge is still intact

>> No.25872138

>>25871286
Can an exchange and Tether make some kind of a secret agreement that:
1)Tether asks an exchange for some BTC in exchange for some USDT
2)An exchange receives some USDT from Tether and gives Tether some BTC
3)Tether places high priced BTC buy orders BTC/USDT pair
4)An exchange fills them for USDT
5)Tether places high priced BTC/USDT buy orders
6)The exchange fills them for USDT
7)Tether and the exchange send each other transactions to restore the initial situation.
8)Rinse and repeat, until normal people start selling/buying high
9)BTC is dumped for a higher price than it was before for USD/EUR/..M

>> No.25872379

>>25870923
Dumb fud

>> No.25873217

>>25872379
COPE