[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 118 KB, 1080x840, Screenshot_20231019-165926.png [View same] [iqdb] [saucenao] [google]
56407141 No.56407141 [Reply] [Original]

This is legal?

>> No.56407163
File: 285 KB, 784x1569, FD65F6CC-F843-4B7B-A058-F8057F046636.jpg [View same] [iqdb] [saucenao] [google]
56407163

>>56407141
Their ponzi is backed by BTC (another ponzi)

>> No.56407210

>>56407141
OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO PRINTER IS BACK!!!

>> No.56407217

>>56407163
>Less then 2%
>Backed by

>> No.56407219

>>56407141
is this bullish or bearish

>> No.56407231

>>56407219
USDT proonting is incredibly bullish

>> No.56407233

>>56407217
They started using 15% if their profits to buy BTC earlier this year, that percentage will increase

>> No.56407243

>>56407233
backing dollars by things other than USTs is dangerous (there's a reason why the gold standard failed spectacularly)

>> No.56407246

they mint in batches, it means nothing

>> No.56407260
File: 381 KB, 2544x4000, 6D9E82EA-B144-498F-A825-A2E8E314DA26.jpg [View same] [iqdb] [saucenao] [google]
56407260

>fractual Reserve „stable coin“

>> No.56407269

>>56407231
Isn't that inflationary?

>> No.56407307

>>56407141
>>56407163
>>56407260
I can't believe that after 6 years there are still tether Schizos
>>56407233
Yes they make billions in profit per year because of bonds, so they are way over 100% backed now and they invest the additional money in Bitcoin

>> No.56407315

>>56407269
for the price of bitcoin yes

>> No.56407328

>>56407269
There will only be 21 million btc.

>> No.56407482

>>56407163
2.73% ohnonononoooes!

>> No.56407571
File: 2.22 MB, 498x498, 1669181666159043.gif [View same] [iqdb] [saucenao] [google]
56407571

It is for as long as INTERPOL allows it to be, which they do, for some reason. Anyways, unlimited imaginary money printing is always good, I'm glad kinetix uses it as their collateral just like any other project worth its salt.

>> No.56407593

>>56407141
The US government prints more money on a daily basis. Tether doing the exact same thing shouldn't be a surprise at this point

>> No.56407595

>>56407571
>Projects worth their salt utilize a dangerous asset that can disappear any day practically instantly as their backbone for people to redeem their money
Exactly.

>> No.56407608

>>56407328
Amen. An asset with a pre-defined max supply is the only way to avoid being crushed by inflation. It's already happening in 3rd world countries, for example.

>> No.56407611

>>56407595
Sure thing man. Two more weeks until Tether finally collapses, right? lol

>> No.56407617
File: 210 KB, 1080x1327, 1646616980614.jpg [View same] [iqdb] [saucenao] [google]
56407617

>>56407141
good - this means my BTC will increase in value even more

>> No.56407625
File: 94 KB, 158x281, 184835767291.png [View same] [iqdb] [saucenao] [google]
56407625

>>56407163
>>56407233
>>56407243
Holy fuck since when have they been using BTC as fucking collateral? BTC of all fucking things, the piece of dogshit coin that dumped to 18k and went back to 24k in like 3 months or less. That's so retarded what they fuck are they doing??? Did they learn nothing from aaaall the algorithmic stablecoins that died for using crypto collateral???

Hope I'll be awake for USDT's first serious depegging which will happen any day now. I'm practically certain. Even if it goes down a cent profits will be massive.

>> No.56407658

>>56407571
You faggots have been rallying for usdt to "die one day" for like the past 5 years or so now. never happens. gee maybe they actually do have the money they claim to have.

>> No.56407704
File: 81 KB, 638x629, 1631889393843.jpg [View same] [iqdb] [saucenao] [google]
56407704

>>56407141
do you even know how the treasury works retard? someone ramps up 1B USD, 1B USDT gets minted. the absolute state of this board

>> No.56407747

>>56407704
>he thinks people are buying btc with real money
lol

>> No.56407798

>Tether truthers in 2023
You retards are literally flat earth tier. 2 more weeks amirite?

>> No.56407818
File: 121 KB, 600x412, 1512664769992.jpg [View same] [iqdb] [saucenao] [google]
56407818

>> No.56407846

someone post the "bitcoin was tethered" pic

>> No.56407973

Why is it ok when banks keep only 10% of their reserves in cash but when a stablecoin keeps 85% of reserves in cash suddenly it's a scam and a ponzi scheme?

>> No.56408009

>>56407625
no by the time tether has solvency issues (if ever) we will have a spot ETF so there will be enough liquidity to hold 30k easily

>> No.56408061

>>56407798
But flat earth is true
Just like Tether was always a Chinese digital dollar counterfeiting operation.
Financially - if everyone knew this, it would destroy the entire corporate financial system as it is because people realize they don't need all the shit that the various industrial complexes are selling them.
But of course countershills are paid to """debunk""" posts like mine with no actual refutation just more regurgitated "official" "facts" that keep getting disproven. Wouldn't be surprise if this post is deleted.

>> No.56408133

>>56407219
They were burning USDT for the past 12 months what do you think. More people are clearly entering the space probably due to how unstable most currencies are currently as well as how the US just decided to print more money due to Israel

>> No.56408602

I hope everyone is loading up on shitcoins, cause the rocket is about to take off.

>> No.56408634

>>56407625
>Holy fuck since when have they been using BTC as fucking collateral?
They've been doing meme shit like this since they started publishing their reserves
Turns out 85% is enough to "sustain" the peg or at least has been enough so far

>> No.56408670

>ever believing or trusting chinks with your money
Turd worlders never learn