/biz/ - Business & Finance

>>58350176
>They chose btc and use tether to pump its price with hot air.
This. Talking about price action is pointless since Bitcoin's is highly manipulated and thus detached from reality. Its insanely overvalued and will crash spectacularly once the phony liquidity is gone.

XMR has to appreciate the hard way: by growing its userbase organically with increased economic activity.

>>58265923
Just gotta sit tight and wait for Tether to fire up the printer again.

>>57936471
>hey im not pro/anti BTC or XMR just curious, why is this such an issue? Isnt USDT minting only done to keep up with demand?

Nobody would mind if Tether was printing USDT that was fully backed 1:1 with USD as its supposed to. Problem is they've already been caught lying about their reserves once before and continue to drag their feet on submitting to a thorough 3rd party audit, its basically a case of "yes, we were being deceptive before but you can totally trust us now, bro! Audit? Yeah, sure, whatever, we'll get back to you on that!"

For a more in-depth breakdown just read this: https://davidgerard.co.uk/blockchain/2021/02/03/tether-printer-go-brrrrr/


>are you implying the demand is not legit?

What do you think? You have to be borderline brain damaged to not notice the continuing series of coincidences where Tether prints (unbacked) USDT and BTC magically pumps.

From the 2021 article:

>Man the printer!
>Tethers were printed at a furious rate all through 2020 — as USDT in circulation went from 4 billion to 20 billion between March and December.
>The printing picked up in December, when the Bitcoin price was pumped from $19,000 to an all-time peak of just over $41,000. The printer stopped for a bit in early January, then started up again just after 15 January.
>This looks very like printing fake dollars as fast as possible before an axe falls.


TL;DR: once Tether finally implodes, Bitcoin bagholders will find out just how much organic demand for their coins actually exists and reap the rewards.

Is this true, /biz/?