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/biz/ - Business & Finance

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49674079 No.49674079 [Reply] [Original]

TETHER BROS, WHATS HAPPENING?

>> No.49674183

>>49674079
I really hope tether collapses. It won't though, at least right now.

>> No.49674341

>>49674079
my nigga dont be retarded, thats nothing, i do agree tho, that this shit is getting spooking, i don't think i have seen tether go 0.98 in a long time

>> No.49674353

>>49674183
>>49674341

they are out of liquidity

>> No.49674380
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49674380

>>49674341
forgot to post image

>> No.49674388

>>49674079
This is the "two more weeks" cope for seething no-coiners. Tether is too big to fail.

>> No.49674400
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49674400

consider this a warning for what's about to come

>> No.49674452
File: 229 KB, 1125x794, 1628472196540.jpg [View same] [iqdb] [saucenao] [google]
49674452

Seems fine to me

>> No.49674507

>>49674079
What was happening is a great arbitrage opportunity.

>> No.49674551

How is tethers value actually calculated?
I don't understand how it could be anything other than $1, it's not some algorithmic coin

>> No.49674619

IT'S FINE. FORTY SEVEN PERCENT OF TETHER'S RESERVES ARE US TREASURIES A MARKET WHICH IS ENTIRELY STABLE WITH NOTHING HAPPENING TO IT AT ALL.

>> No.49674660

>>49674551
you can literally redeem it from tether 1:1

>> No.49674667

>>49674551
It's not backed 100% by cash. More than half of it is US Treasuries and even other cryptos. Only a fraction of Tether is backed by actual dollars.

>> No.49674690

>>49674551
Arbitrageur close the gap if they are confident they can make money

>> No.49674750

>>49674079
Literally nothing. Why would you even post this chart? It actively works against your fear mongering

>> No.49674891

>>49674079
nothing to see here goyim just keep buying (tether) like a good boy

>> No.49674915

>>49674551
the easiest way to understand for me is that they literally print and burn "tokens" so that they can keep the value around 1 usd, its like if a country's goverment could destroy or print their currency at will in a effort to keep the dollar price fixed, of course a country cant do this since they dont control all the money, but tether does since its monopoly money.

>> No.49675022

Why would anybody use Tether over Circle? I never understood how that chink shit is so popular despite all the shit going on with it.

>> No.49675203

>>49674551
I don't even understand tether and I've made over a million in crypto

Why do we need a peg to the USD? Why does the bring stability? Isn't the whole point to be decentralized and have a free market?

Bitcoin used as trading is fine except for the fees. Why are we using a 1:1 ratio coin when we can use any coin or real USD for that matter?

Why are people buying a coin for 1:1 and getting charged fees for purchasing/selling it just to immediately trade it for a coin (BTC or Ethereum) which has transfer fees on everything?
Why not buy with direct cash?

Before you say that's not what's happening then you should see market dominance of crypto

Can someone explain this to me I feel retarded for not getting it.
Wouldn't crypto thrive being removed from any pegs especially tether?
What is its application? What is its use case?

>> No.49675219

>>49674667
>Other cryptos
That's the hilarious part. They are artificially causing exponential inflation in the crypto market by taking the money people use to buy crypto and buying even more crypto with it. This shit would never fly in any regulated environment.

Take half the market cap of crypto on unbanked exchanges then imagine a dump of that size all in one go. There's your accurate market valuation.

>> No.49675221

>>49674079
I AM TESTING

>> No.49675230

>>49674388
>seething no-coiners
bruh we're down 70% in 6 months

>> No.49675303

>>49674667
Nobody knows what tether is backed by because they (and all the other stables) actively refuse audits. They have been fined for lying about their backing already

>> No.49675776
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49675776

>>49675303
>NOOO that's heckin FUD
>FUD FUD FUD
>if I keep saying FUD it will retroactively alter the fabric of reality so that I didn't get scammed when exchanging money for imaginary internet money.

>> No.49675913

>>49674341
>this shit is getting spooking, i don't think i have seen tether go 0.98 in a long time
0.9800 is a ten times greater drop than the lowest point on OP's chart 0.9975, dummy

>> No.49675973

Tether fud is retarded as fuck

>> No.49675998

>>49674690
So why aren't they closing the gap now?

>> No.49676154

>>49675973
lots of salty oldfags, too butthurt to just make money with it by going in and out of it quick ala cashing out once they make gains lol.

>> No.49676390

>>49675998
risk too high for the reward.