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File: 43 KB, 720x737, I_think_A_but_it_could_be_B.jpg [View same] [iqdb] [saucenao] [google]
29715734 No.29715734 [Reply] [Original]

Can someone explain how USDT works? How is it pegged to the dollar? How is it funded? I sort of understand a country pegging it's currency but how doesil it work with Tether?

>> No.29715785

>>29715734
A

>> No.29715810

>>29715734
Niggers

>> No.29716087

>>29715785
I agree with this, B is stupid and exposes its asshole.

>> No.29716386

>>29716087
Maybe it wants to stay warm without shitting its pants

>> No.29716461

B is the right answer i want to see its butthole

>> No.29716469

>>29716386
True

>> No.29716475
File: 142 KB, 826x998, 1608736035186.jpg [View same] [iqdb] [saucenao] [google]
29716475

Who would pick B? It makes no sense.

>> No.29716612

>>29715734
read whitepaper you retard

>> No.29716648

>>29715734
it is based on the fact that people think it is worth $1, while in reality it is only 13% backed and so worth $0.13

>> No.29716743

>>29716475
The front appendages are feet

>> No.29716750

>Can someone explain how USDT works?
faith
>How is it pegged to the dollar?
it isn't
>How is it funded?
it isn't
>I sort of understand a country pegging it's currency but how doesil it work with Tether?
faith

>> No.29716784

>>29716648
But what purpose does it serve? A crypto that's pegged to fiat? Seems like it exists purely to pump BTC.

>> No.29716813
File: 210 KB, 598x598, Untitled35_20210116223817.png [View same] [iqdb] [saucenao] [google]
29716813

>>29716386
Not only this but do you guys have any idea what its like to have your bud hole exposed to the elements? Its heaven.

>> No.29716850

so tether is a scam, got it

so what do i do? USDC?

>> No.29716919

USDT is like in the child cartoons when a character runs past the the tip of a cliff but doesn’t fall until he notices there’s nothing under him.

>> No.29716960

>>29716784
it's liquidity denoted as a US dollar.
it's to protect your gains on chain / for trading.
it is likely backed by btc in some form. if you take them at their word that means around 600,000btc so yea they're margin trading btc essentially. leveraged to the tits.

and yes you're not wrong it probably has some role in pumping bitcoin in a true bull run. it can't pump it by itself with no real money. see the 2019 bull vs the current bull for an example.

>> No.29716987

>>29716784
You have cracked the DaVinci code

>> No.29717020

>>29716475
pants go on your legs. cats have four legs dumbfuck

>> No.29717276

>>29716850
or dai

>> No.29717424

>>29717020
>>29716743

Your argument crumbles when you then try to put a t-shirt on the cat afterwards.

>> No.29717556

>>29716960

But if tether isn't actually backed or redeemable and it's true that 60% plus BTC transactions are conducted using tether then that's slightly worrying, no?

>> No.29717562

>>29716386
Based

>> No.29717582
File: 2.70 MB, 648x576, 1614218137613.webm [View same] [iqdb] [saucenao] [google]
29717582

>>29715734
A
>>29716475
People that want to see it's butthole.

>> No.29717959

Tether is based at jewing the jews. Fuckers literally printed up their 18.5 million dollar fine. Fuck kikes, i'm down for whoever can screw them over the most.

>> No.29718029
File: 27 KB, 1092x1037, 5845cd230b2a3b54fdbaecf7.png [View same] [iqdb] [saucenao] [google]
29718029

>>29717582
Shit, I felt that. Hold me frens.

>> No.29718101

>>29717556
Every single thing about tether is worrisome

>> No.29718115
File: 49 KB, 320x274, 1568378249105.png [View same] [iqdb] [saucenao] [google]
29718115

>>29716813
i can actually attest to this
no feeling out there quite like having the sun shine on your penis, testes, and anus on a warm summer's day; it's a rather unusual and pleasant place to feel the sun's kiss

>> No.29718381
File: 133 KB, 528x321, lonely.png [View same] [iqdb] [saucenao] [google]
29718381

>>29718029

>> No.29718584

>>29717556
personally, of course i'm worried. I haven't held any since 2018 for longer than a week. i have 125k in USDC and I'm even worried about that because there's fud on it.
the whole crypto cartel and whales seem to not care about USDT. The market says it's 100% fine.
USDT is redeemable for USD on one exchange at least. I think Kraken. The fud is there's no real volume taking place there in terms of USD to USDT trading.

read the fud and make up your own mind
https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3

>> No.29718636

>>29717424
Not if the cat decides to wear a poncho instead.

>> No.29718717
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29718717

>>29716087
>exposes its asshole
that's the point

>> No.29718723

>>29718115
Yeah for 1 minute before it gets sun burned

>> No.29718884
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29718884

>>29717582
What was the point to that? No punchline or anything

>> No.29719095

>>29715734
hope and confidence

>> No.29719166
File: 96 KB, 574x561, ESP2r_bUUAAcgTs.jpg [View same] [iqdb] [saucenao] [google]
29719166

>>29718381
Thanks anon, you're a good fren.