13 % Backed!

[Anonymous No.29488500]

AHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHA

[Anonymous No.29488593]

[Anonymous No.29488782]

>>29488500
they literally just created their own margin lol

[Anonymous No.29488841]

Better sell your tether now

[Anonymous No.29488845]

Bitcoin is a fraud. Always was

[Anonymous No.29488905]

>>29488500
WTF OOOOOOOOOOOOOOOOOOOOOOOOOOOUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

[Anonymous No.29488954]

>>29488593
13% backed when there was 442M USDT in circulation
at 34B USDT, it's probably <1% backed

[Anonymous No.29488974]

>>29488500

and yet biztards claim this is bullish for crypto

literal criminals are printing imaginary money to pump btc, and btc cultists believe the tether fud is over

how fucking stupid can you be?

[Anonymous No.29489018]

>>29488593
that just means they're hiding it somewhere without retarded regulations you dumb fuck

[Anonymous No.29489041]

>>29488905
BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR

[Anonymous No.29489051]

> tfw one chance to make it in life
> tfw named faggola

[Anonymous No.29489055]

>>29488974
How is this any worse than the literal criminals at the fed printing imaginary money?

[Anonymous No.29489063]

Literally a giant scam
The vast majority of BTC price action is driven by an enormous counterfeiting operation, and the retards buying crypto are too delusional to see it

[Anonymous No.29489119]

>>29488500
glowing

[Anonymous No.29489122]

>>29488974
>reddit spacing

[Anonymous No.29489158]

>>29489018
>hiding it somewhere without retarded regulations
This is bullish for Crypto!
The regulators will never be able to get to Tether, they're MUUUCH more powerful than the CFTC or the DoJ!

[Anonymous No.29489163]

>>29488500
Why do people still use tether when theres other decent stablecoin options

[Anonymous No.29489209]

>>29488974
money printerino goes
BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
STAY POOR NOCOINER, THE SCAM IS NOT MAKING IT

[Anonymous No.29489230]

>>29488500
13% Backing
BTC: $47,000
True price: $6,110

[Anonymous No.29489264]

>>29488500
everyone calm down, tether is now a digital fractional reserve bank, this is fine.

[Anonymous No.29489303]

>>29488593
oh shit the tether fud was actually real

[Anonymous No.29489338]

everyone knows. we just ride on the cash train and hop it will not explode

[Anonymous No.29489342]

>>29488500
>AHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAH>AHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHAAHAHAHHA

you typed this with a straight face.

[Anonymous No.29489341]

>>29488500
>>29488593
Tether was literally just cleared of any wrongdoing. Stop posting this nigger tier fake news.

[Anonymous No.29489346]

HAHAHA bearish. Tether got banned from the financial capital of the world and they will get a total global ban next.

[Anonymous No.29489401]

>>29489158
usdc, dai, and busd will each individually flip tether by the time another case is even filed against tether. Nobody cares except for priced out nocoiners.

[Anonymous No.29489436]

Can somebody explain wtf this actually means?

[Anonymous No.29489488]

>>29488500
You faggots do realize banks no longer have reserve requirements right? Tell me how this is somehow worse. It’s yet another flaw in the monetary system, and at least BTC is soaking the fraud up like a sponge.

[Anonymous No.29489501]

>>29489341
>Cleared of any wrongdoing
>Fined, even if just a little

Yeah ok that's how it works I guess

[Anonymous No.29489502]

>>29489264
always has been, how new are you people?

[Anonymous No.29489504]

>>29488500
What % are American banks backed?

[Anonymous No.29489511]

>>29489063
>The vast majority of us dollar value is driven by an enormous counterfeiting operation, and the retards holding usd are too delusional to see it

fixed

[Anonymous No.29489542]

>>29489341
no they was not. Tether and crypto outlet lied. Evidence of illigal activity was found. Tether straight up lied on twitter and their website

Bitfiniex, tether and that bank which is owned by tether is runnning a criminal syndicate

[Anonymous No.29489592]

>>29489401
don't forget USDN and UST. Especially USDN since its the most over collateralized algo-stable coin and its on chain provable.

[Anonymous No.29489597]

So the idea is they will liquidate btc to fund tether? Nope. They'll go bankrupt and keep their btc.

[Anonymous No.29489667]

>>29489436
Discordtrannies trying to fud you

[Anonymous No.29489709]

>>29489436
BTC is gonna be the greatest rugging off all time

[Anonymous No.29489738]

>>29489055
>but but the federal reserve does it too!
I didn’t realise the bar for crypto was so low. Isn’t the whole point of bitcoin to be a incorruptible alternative to fiat? How is mirroring its weaknesses going to help in that regard?

[Anonymous No.29489739]

>>29489341
>Tether was literally just cleared of any wrongdoing

HAHAHAHAH.

"“Bitfinex and Tether recklessly and unlawfully covered-up massive financial losses to keep their scheme going and protect their bottom lines."

"This week, we’re taking action to end Bitfinex and Tether’s illegal activities in New York"

https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal

[Anonymous No.29489781]

>>29489055
THE FED IS SUPPORTED BY THE GOVERNMENT WHICH USES THE MILITARY TO ENFORCE ITS POWER AND THIS IS FURTHER SUPPORTED BY OTHER NATIONS AND INTERNATIONAL ORGANIZATIONS AHHHH YOU FAGGOTS ALWAYS THINK THIS IS A “GOTCHA” BUT IT’S RETARDED AGGGHHH

[Anonymous No.29489831]

>>29489511
Fixed how? Both are true. Swallowing both pills is the real challenge

[Anonymous No.29489971]

>>29489781
>This fraud is better than that fraud because the guys doing this fraud are willing to shoot you

[Anonymous No.29489984]

>>29489592
yea there are a lot, haven't heard about usdn till now so thanks for the heads up I guess. But I suppose people's concern is that if btc's price is inflated then somehow it'll dump if people find out even though it's been sketchy from the start so it's already priced in?

[Anonymous No.29490018]

>>29488500
It's really 13% of 0% backed when you get down to it. If you're pissing and moaning about how Tether isn't backed, but not about the "currency" it's supposedly backed with, you probably have brain damage.

[Anonymous No.29490027]

>>29488500
Doesn't the settlement mean that they won't even rug Bitfinex users?

[Anonymous No.29490039]

>>29489738
We all know that it's bullshit.
The point of crypto is to scam people and make money.
The initial idea was founded on libertarian principles, then faggot gamblers hijacked the space when they saw number go up.

I myself hold $500k in crypt but at least I've taken $1.5M in profits.
I've been around since 2013 and unironically liked the libertarian point of view, but nowadays it's literally just fueled by gambling retards.
But what the hell, it has made me money.

[Anonymous No.29490061]

>>29489436
USDT trades 1:1 with USD under the assumption that bitfinex/tether has an account somewhere with the same amount of tether as USD somewhere in the Bahamas, and the promise that if you want to cash out they'll give you the money. The investigation turned out that they actually only own 13% of the money they claimed they had in 2017, which is making all crypto markets crash since there's speculations that USDT was used to pump BTC.

[Anonymous No.29490114]

>>29489781
tether needs to buy some ar15s and they're golden

[Anonymous No.29490236]

>>29489971
Unironically yes are you a dumb child? The world is run by the man with the largest stick.

[Anonymous No.29490238]

>>29489984
USDN on wave is a comfy hodl. you can stake it and earn 10%+ APY. Fees are cheap and the network is fast.

[Anonymous No.29490273]

>>29488500
JUST NEED TO PRINT 87% MOAR.
NoCOINERS BTFO

[Anonymous No.29490378]

>>29490039
based

[Anonymous No.29490404]

>>29490061
>speculations
speculations
>speculations
lmao

[Anonymous No.29490406]

Better than the actual dollar

[Anonymous No.29490424]

More than the Federal Reserve though

[Anonymous No.29490459]

>>29489511
how is it counterfeiting if they're the US treasury that mints US dollars into existence?

[Anonymous No.29490466]

this is bumming me out.
what do?
i am holding 15 btc, the last 2 i bought at 12k like in august.
The rest are very long hold, so gains are all 15% long term rate.
Is anyone who pays attention to volumes and whatnot notice any trading changes?
Is it time to sell into USDC, pay the tax, and see where this shit show goes?

[Anonymous No.29490496]

>>29488500
that's actually more than traditional banks (~5%) lmao

[Anonymous No.29490497]

>>29490236
oh sweet summer child

[Anonymous No.29490524]

>>29490406
>>29490424
its the
>b-but we are not as BAD as the Fed, yet..
argument

[Anonymous No.29490561]

>>29490039
yea, there's only one coin whose community has the same feel as the original one. not gonna shill it though because if you know you know

[Anonymous No.29490574]

I don't get it.
>Additionally, Tether must offer public disclosures, by category, of the assets backing tethers, including disclosure of any loans or receivables to or from affiliated entities. The companies will also provide greater transparency and mandatory reporting regarding the use of non-bank “payment processors” or other entities used to transmit client funds.

https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal

Am I missing something? All this says is that Tether was not backed "at all times". If it wasn't backed right now, wouldn't this be clearly pointed out? This sounds more like everything is fine now.

[Anonymous No.29490603]

can you guys imagine for a second, a fucking shitcoin that's supposed to be backed by fucking FIAT, which itself isn't backed by anything. did you retards REALLY think that for each tether there was a fucking real US dollar? lmao holy shit

this ENTIRE fucking crypto infrastructure is built on what already was a clown-world fractional reserve banking "system". everything is literally one sell signal away from collapsing unto the biggest and most hilarious depression we've seen in the history of humanity

[Anonymous No.29490680]

>>29488500
13% blacked, like the usa

[Anonymous No.29490748]

>Tether fudders getting BTFO in the other thread so they had to make another one to circle jerk in
I fucking love it ahaha

[Anonymous No.29490762]

>>29488593
Source? I don't distrust you but I want to share a link with my peers

[Anonymous No.29490770]

>>29489163
I use BUSD. Based China cucking the amerimutts once again.

[Anonymous No.29490784]

>>29490039
Extremely based. It's rare to see someone smart these days.

[Anonymous No.29490790]

>>29489511
>us dollar value
US dollar value is backed by the might of the world's largest economic and military power.
BTC is backed by Tether and the hopes and dreams of the very same people who think that ponzi tokens named after food are a good investment.

[Anonymous No.29490807]

The important thing to remember is that tether doesn't matter because the USD doesn't matter.

[Anonymous No.29490839]

>>29489230
>No one buys Bitcoin using any of the other thousands of concievable methods

[Anonymous No.29490842]

>>29489488
banks can't create money of of thin air, they have to have to find a borrower who wants to take out a loan and have good collateral to create new loans/money.

So many businesses have failed due to lockdowns, the Fed is trying to prevent a deflationary collapse in credit. The reserve lifting is temporary and also fucking pointless because it doesn't do anything.

[Anonymous No.29490866]

>>29489511
>>29490459
>how is it counterfeiting
it's not. anon is simply trying to deflect

[Anonymous No.29490889]

I think retards are missing the point, this is not a moral discussion. The point is that the doj and sec will fuck tether hard. We are going to see the golden bull run this year unironically, but after this year, Bitcoin is going sub 1k

[Anonymous No.29491050]

>>29490574
>everything is fine now.

[Anonymous No.29491085]

>>29489488
‘Tell me how this is somehow worse than the system crypto purports to be a million times better than’

[Anonymous No.29491091]

>>29490574
>If it wasn't backed right now, wouldn't this be clearly pointed out? This sounds more like everything is fine now.
NYAG didn't get any data on current situation of Tether. They only had two previous data points and on both of those cases Tether was being fraudalent. I'm pretty sure Tether is not going to be any more open in the future.

[Anonymous No.29491110]

>>29490574
Yes! They only had 13% cash backing it but the next day a fairy appeared and brought the 87%. All good now.

[Anonymous No.29491146]

>picrel

[Anonymous No.29491188]

>>29488974
>literal criminals are printing imaginary money
I agree it's disgraceful, but what does USA monetary policy have to do with crypto?

[Anonymous No.29491227]

>>29488500
I need a "Paolo chad yes" to shitpost in these threads

[Anonymous No.29491274]

Who are we being raided by, holy shit

[Anonymous No.29491276]

>>29491146
That works as long as they don't have to burn any tether for USD redemptions.

Like how all ponzi pyramids end, Enron, Bernie Madoff. People come knocking on the door for redemptions that aren't there.

[Anonymous No.29491295]

>>29490039
i call larp

[Anonymous No.29491317]

honestly I just copypaste posts from /r/buttcoin ITT and collect free (You)s

[Anonymous No.29491331]

>>29490039
I’m in the same boat as you. Most aren’t though. They are going to get rugged hard

[Anonymous No.29491350]

>>29490039
libertarian OG here, can confirm
didn't take profits in these numbers, but pretty much the same story
crypto is yet another case study on how humans can take anything great and turn it into garbage

[Anonymous No.29491402]

>>29490466
>The rest are very long hold, so gains are all 15% long term rate.
At $441K the rate goes up to 20%, so if you sold all your coins you'd be hitting that. Maybe talk to a tax advisor.

[Anonymous No.29491440]

>tether fud is dead
>reload the exact same tether fud

[Anonymous No.29491498]

>>29490762
NYAG:
https://ag.ny.gov/sites/default/files/2021.02.17_-_settlement_agreement_-_execution_version.b-t_signed-c2_oag_signed.pdf

[Anonymous No.29491506]

>>29491146
There is someone holding tether. They will lose it all.

[Anonymous No.29491540]

ON MY WAY TO TOP 10

[Anonymous No.29491551]

>>29488593
>Bank of Montreal
I have a BMO account and they freeze my fucking account for trying to buy crypto, yet they let these scammers store millions? what the hell

[Anonymous No.29491553]

>>29488974
this idea that you literally can only trade crypto with Tether, or that the whole environment depends on whatever the fuck happens to Tether is peak reddit.

[Anonymous No.29491686]

>>29490790
>backed by the might world's largest economic and military power
worlds largest cope. globalists will throw you under the bus the first chance they get. hope you know mandarin and like sucking your new chinese overlords 2 inch pee pees

[Anonymous No.29491816]

>>29491276
you can't cash out tether for usd anywhere LOL
brilliant, really

[Anonymous No.29491896]

>>29491686
You better learn Mandarin to ask the Chinese to process your transactions.

[Anonymous No.29492047]

>>29491553
https://coinlib.io/exchange/binance

everyone look at the dimwit retard that didn't do his research

[Anonymous No.29492086]

>>29491553
stages of cryptotard cultist coping

>1. Tether dindu nuffin he a good boy
>2. Tether has no impact on btc price, it's irrelevant
>3. So what if Tether is a scam, Fed is worse

[Anonymous No.29492243]

Is this why every coin is dumping? Did Tether kikes kill the bullrun?

[Anonymous No.29492320]

>>29488500
reserve ratio for us banks to give out loans is 0%
just so you know

[Anonymous No.29492338]

>>29492047
you are fucking moron if you don't think CZ and other chink cex don't have an exit plan. In fact, chances are CZ is probably thinking of dropping Tether in lieu of BNB and BUSD already.

[Anonymous No.29492349]

>>29489341
Literally banned from NY state. Its over.

[Anonymous No.29492351]

Please read the document you posted, tether/bitfinex had the money, they just had it in a comingled account instead of ringfenced accounts. FUDDERS BTFO. The fact that tether is still trading at 1.00 usd is proof that this was a nothingburger

[Anonymous No.29492568]

>>29488593
>>> until 2017
You retards know its 2021 now, right?

[Anonymous No.29492573]

>>29490839
>buy something in an auction
>you bid with your hard-earned money
>other person bids with fake money

Even if you "win" you're paying more than you should have. Wouldn't you rather be buying BTC at 13% of the price?

[Anonymous No.29492685]

>>29492047
This image cracks me the fuck up. So do Americans in general.
>Tether is fraudulent! Look at this graph, almost all inflow of money on Binance is via Tether! Doj and SEC will fuck them up!
>Binance not even operating in US
You guys are reaching so hard. If the US decides to declare every alt a security, blacklists USDT, traces every single crypto to crypto transaction to tax it 99%, and makes it impossible for American exchanges to follow regulation, it will still not mean the end of btc/crypto. Biggest adoption RIGHT NOW is happening outside of the USA. It's ogre, bitfinex'ed fags. You got too cocky.

[Anonymous No.29492700]

I just looked at coinbase and it says tether is worth 1 USD

[Anonymous No.29492711]

How is what Tether is doing any different than what banks do with our checking accounts?

[Anonymous No.29492768]

>>29491317
You

[Anonymous No.29492780]

>>29492568
ofc these retards dont know its 2021, they too busy buying and shilling pajeety ass scams and cant cope with the reality they will never make it as too pussy to actually trade or hodl properly. Always buying tops and selling bottoms, the bizlet way.

[Anonymous No.29492787]

>>29492338
tethers trading volume just past 200billion today.

their exit was the coins.

[Anonymous No.29492840]

>>29491686
>hope you know mandarin and like sucking your new chinese overlords 2 inch pee pees
talk about >pic related
Didn't even mention china. You're just mad because you're being taken for a ride by a bunch of fraudsters. It's not even a good story:
>i was greedy
>i got taken
sorry your ego is a little bruised, anon.

[Anonymous No.29492872]

>>29488593
>2017
Its better now. I'm actually fairly confident its fully backed with all the scamming they've done so far

[Anonymous No.29492888]

Isn't this counterfeiting? They should stop using the word dollar and stop insisting on a 1$ peg. Keep it at 2$ or 0.5$ or something.

[Anonymous No.29492896]

>>29492711
tether isnt insured, plus them doing it to btc makes btc an inflationary asset and not a hedge against inflation

[Anonymous No.29492903]

>>29488500
That was back then. No it's probably less than 1%.

[Anonymous No.29492909]

>>29488500
>104 posts
>not one perosn stating the backing requirements of modern commercial banks are below 1%

you fucktards lack the most basic financial education there is and still outperform hedgefunds if you would just take profits at some point.
i lightheartedly kek the irony is not lost on me

[Anonymous No.29492929]

>>29492711
because when there's a run on banks, they go tits up or simply decide, to be 'slightly less backed' than they should, your deposits are Govt guaranteed. For a start.

[Anonymous No.29492979]

>>29492086
All 3 arguments can exist at the same time.

[Anonymous No.29492987]

hoyl fuck you niggers are spinning in literal circles
they just ended the case today and you mongoloids are still making shit up
what tether does that the NYAG doesn't like is shadow banking, it's not about backing you fucking retards
I feel like an idiot just explaining this to you morons
keep waiting for some tether collapse that will never come

[Anonymous No.29493009]

>>29489436
it's a scam but nobody is going to do anything
enjoy the bullrun

[Anonymous No.29493018]

>>29492909
Thanks anon

[Anonymous No.29493105]

>>29492711
for one thing, banks are highly regulated
for another, banks don't print the money
for another,

actually never mind, it's like trying to explain calculus to a hamster

[Anonymous No.29493247]

>>29492086
there is no coping , wagie
>tether doesn't matter, 90% of the reported volume you guys talk about is fake shit from coinbene and family
>nobody gives a fuck about shadowbanking, except for bureaucrats and regulators
>stablecoins aren't scams, you're just seething that CBDCs are going to use their trash
>hurrr the fed, nobody cares, you can hedge yourself out of their shithole today

[Anonymous No.29493287]

>>29492987
>shadow banking
I thought tether was a stablecoin and not a bank.
To be a shadow bank you have to provide lending to borrowers.

[Anonymous No.29493325]

>>29493009
there is no scam
wagies are just seething about the shadowbanking

[Anonymous No.29493342]

>>29492909
It has been mentioned multiple times in this thread. I do agree with the Bitfinex'ed/Tether chicken littles though, it's a cheap cop out. Blockchain should be completely transparent in this regard and Proof of Reserve should become the norm (it will be, Chainlink already enables it). This will be yet another reason why defi is better than centralised banking.

[Anonymous No.29493404]

Oh my god Tether is a scam?

[Anonymous No.29493450]

>>29493287
their wire provider does shadowbanking
it's what this whole shitfest is about
they proved their backing today but retards are trying to spin this into their Qanon tier happenings

[Anonymous No.29493457]

Why the fuck did Tether stop printing suddenly?

[Anonymous No.29493501]

>>29493105
>Fractional reserve banking is not the same as printing money
Well technically no, it isn't. But the result is the same

[Anonymous No.29493614]

>>29492840
you didnt mention china because the scope of your worldview is 100% correlated with your cum brain IQ. your entire argument predicates on the notion that we must give a monopolistic authority to central banks to denominate value and create wealth.

now go suck a chink dick you faggot

[Anonymous No.29493643]

>>29493287
>shadow bank
nobody here knows what "shadow banking" is, they're just regurgitating jargon they heard somewhere and are trying to deny and deflect. Like here: >>29493247

[Anonymous No.29493707]

>>29493342
>yes now pls turn your money into worthless LP bs to farm food token with higher inflation than Venezuela has.
>DeFi is the future

[Anonymous No.29493709]

>>29493450
What are you talking about

>what tether does that the NYAG doesn't like is shadow banking, it's not about backing you fucking retards

I thought we talking about tether but now you're saying their wire provider is a shadow bank? Are you talking about deltec? The loan came from bitfenix.

[Anonymous No.29493883]

>>29488500
uh do i sell anons?

[Anonymous No.29494014]

>>29488500

[Anonymous No.29494028]

>>29488500
sauce?

[Anonymous No.29494110]

>>29493643
A bank is a place where you create loans it's that simple.
A shadow bank is an organization that isn't strictly a bank but can create loans like Quicken Loans.

But to create that loan you still need collateral, for instance the house is the collateral for loans created by Quicken Loans. How the fuck does this tie in with tether.

Tether isn't supposed to doing shit except holding dollars in reserves somewhere like gold in fort knox.
The gold is supposed to sit there and not get transported there whenever they have to do an audit.

[Anonymous No.29494125]

If you really believe in crypto then you should be hoping that the Tether boil gets lanced sooner rather than later.
Imagine shilling for what’s essentially a fractional reserve central bank of crypto just because it makes the price go up. Option B is you think all $36bn USDT is backed 1:1, in which case you are a retard
I wonder what percentage of people defend tether know it’s a scam just because they want to see line go up

[Anonymous No.29494168]

>>29488845
The thread is about tether, not bitcoin.
Sell your tether now for bitcoin, before it crashes!

[Anonymous No.29494293]

>>29494125
Crypto is decentralization, transparency being your own bank unbeholden to centralized fraudulent financial entities gaming the rest of us with money printing.

How could any could anyone support tether it's 180 the opposite of what bitcoin stands for.

[Anonymous No.29494302]

>>29493009
every fcking time keking at this image at 100% force
frog face is the absolute state of biz

[Anonymous No.29494474]

>>29489230
Most people in crypto have never even used tether. I’ve never used tether a single time and I’ve been here since 2015

[Anonymous No.29494509]

>>29493707
>Food yield ponzis exist therefor DeFi is worthless
The sad thing is, dimwits like you lack any self awareness or self reflection and will just act like you were always in favor of the same tech you kept bashing and wasting your breath on while yelling at it like some out of touch boomer. Sad.

[Anonymous No.29494898]

Should I move my money out uf USDT? SERIOUS QUESTION

[Anonymous No.29495008]

>>29494168
Tether pumped bitcoin every time you fucking putz

[Anonymous No.29495065]

>>29494509
>you
>you

thats sad.

Just observed that vast majority of people ape into high APY defi scams not knowing the risks, thinking 50k% apy means they will get lambo after farming 100$ for a year. You know the ratio of meme tokens to actual defi is 80:1. People who farm sushi are the same people who spam twitter with "defi is the future"

[Anonymous No.29495166]

>>29489341
>Tether was literally just cleared of any wrongdoing
Imagine being such a cultist mong that you interpret "not admitting any wrongdoing" as "cleared of any wrongdoing"

[Anonymous No.29495205]

>>29490238
Don’t forget swop.fi

[Anonymous No.29495261]

>>29494509
>We've skipped the ICO step and moved straight to speculating on governance tokens for contracts that hold bob capital for the sake of loaning out alice tokens that exist to start the process again in carl contracts.
So profound. It's a game and not even a decentralized one. It just happens to run in an arguably decentralized environment (unless it's BNB then it's just a fucking DeFi LARP).

[Chronos No.29495521]

>>29488500
You've ruined me 4chan I read blacked

[Anonymous No.29495624]

>>29490497
pretending to be retarded is a trait of a redditor

[Anonymous No.29495708]

>>29490574
thats literally what it is. There whole case is that there was a period of time in 2017 that they werent fully backed by USD (may have been backed by other assets at the time) this is literally the biggest nothingburger ever. Tether FUD is dead

[Anonymous No.29495865]

>>29490574
retards are starting to panick rn although they should have done it a month ago, when the result of the audit wasn't in yet

[Anonymous No.29495991]

>>29488500
i just sold everything. im out of this shit forever. vaporware backed by nothing and shilled by reddit moonboys

[Anonymous No.29496005]

>>29492909
You are the only retard here. Yes, banks and the fed do the same thing but they are the ones that rule the world, tether will get fucked hard and so is every single shitcoin within a year

[Anonymous No.29496181]

>>29495708
>Tether went from 13% backed at 44 million to 100% backed at 36 billion
>You actually believe this

[Anonymous No.29496324]

>>29490039
Satoshi made BTC dividable by 100 million, meaning that if 1 BTC = $1 million, 1 SAT = 1 cent.
Seems like he understood what would happen from the start.

[Anonymous No.29496338]

>>29495708
The case was investigating 2017 and 2018 and both times NYAG purported that tether lied and acted fraudulently.
They don't have anything to say about 2019, 2020, or right now because that wasn't the scope of the investigation.

Where there's smoke there's fire. This tether doesn't pass the smell test there's so much shadiness.

[Anonymous No.29496341]

>>29496005
>, tether will get fucked hard and so is every single shitcoin within a year
they just settled with the NYAG for 18M brainlet

[Anonymous No.29496492]

>>29495708

So you believe criminals who were committing massive financial fraud for years should be trusted now?

[Anonymous No.29496600]

>>29496324
>he
Satoshi is a pregnant female

[Anonymous No.29496608]

>>29496341
They agreed to provide transparent reports in the future
They basically bought themselves a few more months before the giant rugpull.

[Anonymous No.29496727]

>>29490039
>The point of crypto is to scam people and make money.
sometimes you have to cheat to win anon.

[Anonymous No.29496895]

>>29496600
It was the fetus, instructing the female from inside the womb.

[Anonymous No.29497134]

>>29490039
of course
anybody holding some altcoin for an extended period of time is going to get rekt in the end. just make your free, fast as fuck money and get the hell out.

[Anonymous No.29497149]

>>29496895
oh..

[Anonymous No.29497275]

>>29492700
Yeah- the first billion tether are worth $1. It’s just that the next $33 billion are worth $0

[Anonymous No.29497377]

>>29497149
if only all females looked this good

[Anonymous No.29497385]

A lot of you retards need to learn what fractional reserve banking is. Tether is absolutely nothing compared to the modern financial system

[Anonymous No.29497407]

>>29488500
Why do centralized Chink exchanges like Binance and the others push Tether volume? Just use USDC. I have been in crypto for 8 years and never used Tether once. When that shit collapses, those that hold it will be rekt completely.

[Anonymous No.29497606]

>>29496608
This. Why do you think BTC is dumping right now? Tether needs real dollars to cover all the fake dollars they traded out for real Bitcoin over these past few years.

[Anonymous No.29497980]

>>29497407
Tether loans tether to exchanges at a 10% discount.

[Anonymous No.29498038]

>>29488500
>>29490061
13% is still more backing than most banks have.
You do realize fractional reserve banking has been around for hundreds of years?

[Anonymous No.29498367]

>>29498038
Fractional reserve banking is susceptible to bank runs so that's why the fed was created, to be a lender of last resort and as a central depository clearinghouse.

Tether never said in any of their statements that they were doing fractional reserve banking, they've always stated that they were fully backed 1 USDT to 1 USD even when they were 100% lying.
Instead of being cucks and admitting it, they decided to double and triple down on the fraud which is bold in it's own way.

[Anonymous No.29498392]

So that's it? They get a slap on the wrist and go on printing money? No other regulatory bodies are gonna weigh in?

[Anonymous No.29498566]

>>29488500
Fuck tether and their shady ways.
Fuck any USD pegged stablecoin that isn't just algorithmically stabilized too.
Fuck retards that keep trying to FUD btc when this tether case is done and dealt with.
Get better FUD.

[Anonymous No.29498598]

>>29498392
NYAG has state level jurisdiction. This is the full extent of what they can do.
However this ruling leaves tether open to cases on the federal level especially if they don't comply with quarterly reporting on their reserves.

Just wait for the interview with the nigress you'll get a better idea then.

[Anonymous No.29498609]

So I read the document and all, why did thether not sue crypto capital? Also, did they not resolve the problem by getting a loan? I mean yeah at some points it wasn't backed but so is money at regular banks

[Anonymous No.29498614]

>>29498392
they pay a fine and step in line

[Anonymous No.29498739]

>>29488974
Why you no think the United States Dollar does the same ting? The Federal Reserve should be banned by NY. The Fed steals from not only Americans but from the rest of the world.

[Anonymous No.29498870]

>>29498038
LMAO. The difference between banks and your butter stable coin is that banks actually know where the other fraction is.

[Anonymous No.29498886]

DESPITE BEING 13%-

[Anonymous No.29498904]

>>29490404
Rumors move the price

>>29498038
13% was in 2017, if they haven't gotten a significant amount of cash since then (I'm talking like 100x what they didn't have) they're at way less than 1% backed. They're literally printing 10x their net worth in 2017 twice a week these days.

[Anonymous No.29498963]

Also if they really boosted bitcoin price out of fake tethers you've got to admit that's kind of genius, it really shows how stupid the economy nowadays really is

[Anonymous No.29498999]

>>29498739
you mean it GIVES to the world. God bless america

[Anonymous No.29499073]

>>29498739
The federal reserve and the dollar are approved by the US government.

[Anonymous No.29499109]

>>29496341
>18M
So what is that, like 30% of their reserves?

[Anonymous No.29499212]

>>29497385
Yet it's like 90% of Bitcoin's volume

[Anonymous No.29499325]

>>29498739
>prints money to stabilize market and save economy
>omg omg FED pls stop robbing us pls dont print money, thats considered as armed robbery pls noooooo

[Anonymous No.29499328]

>>29498038
>You do realize fractional reserve banking has been around for hundreds of years?
Yeah I realise that. I was told that crypto was going to be an alternative to them, not an even shittier and more corruptible imitation.

[Anonymous No.29499414]

>>29499325
>Stabilize market by removing price signaling and profit incentives via helicopter money
Kek, good one anon.

[Anonymous No.29499664]

>>29499414
>dreams of another great depression because he bought spy puts

[Anonymous No.29499709]

there's literally never been a need for tether. it exists so (((exchanges))) can rip you off and do fractional reserve banking using the SAME EXACT SCAM jews used to steal all the gold with 'Federal Reserve Notes'

[Anonymous No.29499734]

>>29499664
We're already in another Great Depression you tardo. Or did you think the economy's health was measured by the SPY?

[Anonymous No.29499811]

DUDE, what if, our conventional belief system, was also like the belief in the dollar...

[Anonymous No.29499871]

>>29499734
ah yes a great depression where you can't buy a PS5 because they are sold out.

[Anonymous No.29499905]

>>29499871
Name me a game for the PS5 worth playing. Honestly.

[Anonymous No.29499970]

>>29489018
MONERO

[Anonymous No.29499989]

>>29499871
>Lack of availability of goods
Thanks for actually helping my argument. Look at private sector GDP, unemployment numbers, unpaid rent and mortgages, and tell me we aren't in an economic depression.

[Anonymous No.29500007]

>>29489501
In New York, notorious no fun zone for crypto? Yes that's how it works

[Anonymous No.29500064]

>>29489055
>How is this any worse than the literal criminals at the fed printing imaginary money?
because that independent jewish lead entity pretty much runs the show globally

[Anonymous No.29500079]

>>29489504
100% backed by de goberment

[Anonymous No.29500399]

>>29496492
>>29496181
>>29496338
>no believe my heckin niggerino AG instead

[Anonymous No.29500438]

>>29500007
There isn't an alternative truth in New York, they didn't have the backing they claimed for the tethers. This might end up with a federal case that further punishes them for their actual crime, which is financial fraud by pumping bitcoin with fake assets.

[Anonymous No.29500483]

>>29499989
>ps5s sold out because of high demand. Sold out means they were sold, and where items are sold there had to be a buyer for it. therefore tons people bought a console for 500$ which would mean we arent in Great Depression as people can afford it.

[Anonymous No.29500615]

>>29492685
You are a moron. USD is backed by the USA.

Guess what happens when people want to cash out their USDT and Bitfinex doesn't have the money to do so? The whole market will crash.

[Anonymous No.29500691]

>>29500399
2017 was when I sold my bitcoins before the dump, Charlie Lee sold all his LTC and announced it on twitter because he's a fucking hero who gave out his insider info to everyone.

The other half of it was like on youtube there were like these nigger twins like hodgekin twins or something and they started pumping bitcoin hard. I see a lot of them on twitter pumping on bitcoin now, could be same thing.

[Anonymous No.29500757]

>>29500483
>I'm going to ignore all economic indicators including wealth inequality and poor spending habits to prove that PS5s mean the economy is healthy.

People are spending a lot of money on bitcoin too, that must mean the economy is roaring right? Don't worry about suicide rates, declining life expectancy, unemployment, or any other numerous things that would indicate a failing economy, PS5s are being sold!!!

[Anonymous No.29500829]

Despite making up over 50% of the stablecoins market only 13% of tether is actually backed by usd

[Anonymous No.29501096]

>>29488500
Crypto is one huge shitshow.

Pajeets and scammers try to lure newfags into their newest scam shitcoins to make a quick buck. On top of that they will tell u that crypto is digital gold.

[Anonymous No.29501214]

>>29488500
>>29488593
IT'S FUCKING OVER SELL
EVERYTHING WHILE YOU CAN, THE SEC IS COMING

[Anonymous No.29501264]

>>29500829

Lmfao

[Anonymous No.29501400]

>>29489401
>>29489592
Anon, USDT is used to pay for Futures and Leverage contracts. Those are a big part of Binance's and ByBit's revenue.

Thanks to USDT, they can easily buy/sell and loan billions of dollars each month to do transactions. This fake prices are being used to buy more crypto which in turn pushes the price upwards again. Guess what? All that money and all the price movements of BTC were done thanks to imaginary USD.

USDT can really bring down the market. The prices are not real and both the whales and the biggest exchanges are too exposed to it.

[Anonymous No.29501610]

>>29500757
>>Lack of availability of goods
this isnt true.

wealth inequality is poor money management, spending habits and lack of financial education.

Wait tilll you get a taste of real depression where youre forced to eat glue of your shoes and have your tent stolen

[Anonymous No.29501800]

>>29499328
This is what annoys me the most with retards who say the "muuuh fractional reserve banking".
Yes, it's gay. That's one of the thing that crypto is suppose to combat, not make an even shittier version of it.

I'm no fan of fractional reserve banking, but at least they're HEAVILY audited and regulated.
Tether has none and is literally holding fractional reserves of BANK USD (not monetary base, M0) which already are fractional reserves.
The house of card is growing taller, that's for sure.

[Anonymous No.29501882]

>>29498038
LMAOOOOOOOOO

[Anonymous No.29501900]

>>29499709
>rip you off and do fractional reserve banking using the SAME EXACT SCAM
This

[Anonymous No.29501953]

>>29500829
kek

[Anonymous No.29502032]

>>29500399

[Anonymous No.29502043]

>>29492711
>banks are insured
>so a portion of the costumer's money is guaranteed
>if a bank dies the government will save them
None of these things apply to Tether. When the Ponzi ends a lot of people will be left with their dick in one hand, and a bunch of useless tokens in the other.

Also;
BTC WAS SUPPOSED TO BE A SOLUTION TO THE CORRUPT BANKING SYSTEM THAT CRASHED IN 2008. WHAT TETHER IS DOING IS PRETTY MUCH THE SAME THING BANKS DID BACK THEN.

[Anonymous No.29502092]

>>29500438
The DoJ has an investigation since end of 2018:
https://www.bloomberg.com/news/articles/2018-11-20/bitcoin-rigging-criminal-probe-is-said-to-focus-on-tie-to-tether

I hope they slam down the hammer and fucks Tether.
Sure, Tether might cause "price go up" and we get rich.
But I unironically want crypto to succeed in the long-run and Tether is NOT a positive thing in any way for crypto.
It just makes the pricing mechanism unreliable.

[Anonymous No.29502162]

>tfw USDC gang and don’t have to worry

[Anonymous No.29502178]

>>29500829

[Anonymous No.29502270]

>>29502162
>USDC
OHNONONONONO
https://twitter.com/DesoGames/status/1362337120556355585
https://www.desogames.com/proof-that-few-if-any-dollars-back-any-stablecoin-theyre-all-tether/

[Anonymous No.29502373]

>>29493707
Funny you say that because Tether has been printing more money in the last 7 years than even Nicolas Maduro. And it's especially funny because Maduro also insisted that there was 4.3:1 parity between BSF and USD until 2017 when the entire thing crumbled.

Tether is the Venezuelan Central Bank of Crypto.

[Anonymous No.29502411]

>>29502270
I looked into it, it was fake.
You can check attestation on USDC's website, nothing out of the ordinary.

[Anonymous No.29502577]

>>29488500
You know you are going to burn, right?

[Anonymous No.29502613]

>>29502270
this guy doesn't sound very smart maybe there's fraud maybe not. I think USDC should be relatively safe.

[Anonymous No.29502785]

LOL BTC 1000 EOY

[Anonymous No.29503243]

>>29490497
you need to go back

[Anonymous No.29503312]

>>29494898
Yes and put into ASKO

[Anonymous No.29503504]

>>29498038

US Banks are backed by the might of the US Federal reserve, which itself is backed by the most powerful government and military the world has ever seen.

Tether is backed by "investors"

[Anonymous No.29503662]

>>29494168
>He thinks all those pumps in the last 3 years were organic

[Anonymous No.29503883]

>>29489781
this
>why would the government don't destroy itself
fucking retards

[Anonymous No.29503962]

>>29489971
might is right

[Anonymous No.29504105]

>>29501400
I know, that's my point. That would mean that they're in massive profit unless they're literally brain dead, a monkey could 1000x if they had that kind of leverage available.

[Anonymous No.29504108]

>>29488500
>>29488782
>>29488905
>>29488974
>>29489230
>>29489264
>>29492903
>>29495991
>>29498566
>>29501096
>>29489303
you know how assets and liabilities work on a balance sheet right? you know what is cash and cash equivalents right? you know the most basic accounting principles right? you're not that stupid anon, right?

[Anonymous No.29504211]

>>29498886
SHEEEEEIIIIT

[Anonymous No.29504327]

>>29504108
They clearly don't. Tether will be required to provide detailed data on a quarterly basis now and tether was not back for two (2) short periods of time.

I don't get this FUD, it seems honestly fucking retarded or nobody is reading the actual results

[Anonymous No.29504580]

>>29488500
AHAHAHAHAHAHA 13% BLACKED?
TETHER WAS MADE FOR THE BBC.

[Anonymous No.29504791]

>>29504327
because the theory is that their cash equivalents are actually btc or a similar risky asset but I suppose if they're getting audited now and banned in NY they'll just get flipped by the other stablecoins

[Anonymous No.29504863]

>>29502162
>>29502270
What about BUSD bros?

[Anonymous No.29505392]

>>29493247
You’re fucking retarded

[Anonymous No.29505430]

>>29504863
backed by paxos

[Anonymous No.29505498]

>>29498886
MAKE 90% OF THE PUMPS

[Anonymous No.29505615]

>>29494125
They don’t have a single fucking dollar to back their tethers. Collapse this entire thing now and get it over with

[Anonymous No.29505719]

>>29489018
kek this level of cope

[Anonymous No.29505782]

Tether has real value because some CPU time and electricity are actually required when the "create" button is pushed.

[Anonymous No.29505973]

>>29489018
yep, they used a sketchy local co-op bank in Poland and actually got their funds seized and the guy running their operation there was arrested for money laundering

[Anonymous No.29506104]

Tether is backed by assets. Those assets are Bitcoin. Yes, this is a ponzi.

[Anonymous No.29506571]

>>29504108
>>29504327
Tether claims to be 100% backed by USD. retards

[Anonymous No.29506943]

>>29506571
https://wallet.tether.to/transparency
have fun staying retarded

[Anonymous No.29507161]

Ampleforth.

[Anonymous No.29507259]

you retards realise that even if Tether is fully backed it's still backed by bank USD right? and banks have a reserve of 1%, you can't name any bank that would let Tether withdraw even 2 billion, literally Elon Musk just has to try cash out his BTC for Tether -> USD and we'd be in for a 95% correction

[Anonymous No.29507504]

>>29488500
do you have any idea how banks work? this just means tether is more reliable than banks lmao

[Anonymous No.29507561]

>>29506943
I hope you can read anon. they issued more than authorised

[Anonymous No.29507584]

>>29507259
There are no smart contracts involved in what you're describing. They can just tell him he has to wait if he wants that much in bills. If he's keeping it digital it doesn't even matter, the reserve isn't touched.

[Anonymous No.29507639]

>>29495008
They already sold for USD so it does not matter. Tether FUD is bullish for Bitcoin.

[Anonymous No.29508343]

>>29507561
bro they have more assets than the market cap of tether, wtf are you on about? god damn biz is full of retards who can't into anything

[Anonymous No.29508421]

>>29499905
demon souls

[Anonymous No.29508869]

>>29490236
>Unironically yes are you a dumb child? The world is run by the man with the largest nose
Ftfy

[Anonymous No.29509359]

>>29508343
>they have more assets than cap

yeah I agree. You realize there is an ongoing case?

[Anonymous No.29509384]

>>29489341
Don´t know if bait but if not you´re a fucking absolute retard man. Feel kinda sorry for your dumbass

[Anonymous No.29509435]

>>29506943
>>29508343
>Total Assets $34,931,457,074.10
imagine such a dumb goy that you believe this

[Anonymous No.29509756]

>>29508421
demon souls is a game from over a decade ago.

[Anonymous No.29510209]

>>29490603
Very true and very real unfortunately, at least we can try to ride the crypto train and hope to be free of wageslaving at some point

[Anonymous No.29510263]

>>29507504
how do banks work then?