/biz/ - Business & Finance

Or, you know, people could just be selling their crypto and turning it into tether so that they don't lose money while everything is dumping.

>>13424262
That wouldn't increase Tether's market cap. Nice try though.

people putting fiat into crypto to buy the dip?

MANIPULATION!

>>13424262
People buying tether can't increase its price and marketcap is price*amount.

>>13424224
C O P E
O
P
E

>>13424279
https://yourlogicalfallacyis.com/strawman

People buying it would increase its amount would it not

>>13424300
Pretty sure tether is printed in increments. There's not a dollar for every tether

>>13424300
Yes people buying tether means more must be created hence increasing its market cap...

>>13424294
you're a retard

>>13424300
No, it would not. Do you think people tethering up on a dip would only represent a 0.2% price movement? I hope you don't have money in crypto

>>13424329
>There's not a dollar for every tether
DELET THIS IMMEDIATELY

>>13424224
Did you know some whales go through finex with their fiat straight to tether with their millions?
Tether would have been shut down by now if it was dodgy, It's been checked I don't know how many times, stop with your retardation
Whales may well be playing with tether/other stable coin markets since those pairs exist now and have TA charts to play with.

>>13424351
https://yourlogicalfallacyis.com/ad-hominem

Not an argument. Close your laptop, take a nice relaxing shit in the street, grab a cup of milk tea and go find a new job.

>>13424269
you don't have a clue.

Tether is supposed to have a fixed price. When demand is high like recently, they have to increase the supply.

Demand is high now because people are panic selling out of alts and because many are expecting BTC to have a major correction and are tethering in hopes of buying back lower.

It's working as it should.

>>13424379
>would have been shut down by now if it was dodgy
Welcome to cryptocurrency, newfag. Your first lesson is free. Everything is dodgy

>>13424386
Not an argument, and I'm not interested in your opinion.

>>13424379
I've heard of this mythical whales, yes. They are said to come from the Land of Marketing Bullshit.

No but seriously, I used to buy into the 'all the Chinese whales!' meme too.

>>13424224
what the fuck it boggles my mind how there's still people in this market that have no clue how tether works. get some edjucation retard
>>13424288
same about you but it's probably bait

>>13424438
Educate yourself, big boy. >>13424362

>>13424425
>i don't understand how something works
>i'm not interested in learning about it
why did you even make this thread OP?

>>13424459
ar·gu·ment
/ˈärɡyəmənt/

noun
noun: argument; plural noun: arguments

a reason or set of reasons given with the aim of persuading others that an action or idea is right or wrong.
"there is a strong argument for submitting a formal appeal"
synonyms: reasoning, line of reasoning, logic, case;

Ive looked into tether extensively, unable to find any proof of the dollars they claim to have.

>>13424453
>>13424425
>>13424383
>>13424362
>>13424294
>>13424269
Learn how tether works. Unironically.

>>13424645
Not an argument.

God, you people are stupid.

>>13424269
Not directly, but if everyone is buying tether and holding it, the supply dries up and they are forced to print more to meet demand.
I have no idea if that is the case, but an increase in cap does not inheritly mean artificial pumping of btc

>>13424288
market cap is
circulating supply * price
since price remains stable, only circulating supply is taken into account

so a direct increase or decrease in supply in this centralised shitcoin is what you should watch out for

wtf
i thought we had less retards here

Hi I don't care why you idiots are arguing but how does bitfinex ostensibly decide to print more tether? I know the conspiracy of "pumping btc" but how is it supposed to work?

Like if I want a USDT and buy it from you for $1 worth of BTC, we don't need another USDT printed. But if I want two and you only got one then we need another. So is it when the price gets too high they dilute the supply? Is that it?

>>13424669
Let's say you are trading on Binance, and you have one Bitcoin. Uh oh, you think, it looks like a dip is coming, I better Tether up. So you put an order in and a little while later, your 1 BTC becomes roughly the equivalent amount of Tether. But for what you're saying to be true about the supply drying up, you would have to assume that the exchange was operating on a 1:1 ratio for all their trades, and not a fractional reserve. If you don't know or don't think that exchanges are operating fractional reserves, you probably made a terrible mistake in becoming a crypto trader/investor. That's the simplest answer I can give you for that. What is actually happening with the trading does not usually directly affect the market unless the price movement is so significant that it forces the exchange to trade with other exchanges/pools/dev pools, which is usually when you get the big double-digit rises or drops.

>>13424680
You read that too.

>>13424224
the most interesting thing to watch is actually a little further up

>>13424512
>>13424651
you're making it obvious to everyone here that you don't understand how tether works, stop saying "not an argument", just read up on it. if you do, you'll see that the premise in your original post doesn't make sence. like 10 people already tried telling you that, pull your head out of your ass man

btw stay the fuck away from tether, if you look in their terms it states that US citizens aren't allowed to own Tether while exchanges clearly don't honor that restriction

if that isn't a red flag then i dont know what is.

https://tether.to/legal/
CTRL+F:
The following Persons are prohibited from depositing to

they have rewritten the legal page in february to make it more confusing but still clear that whatever they are doing it isn't legit

>>13424759
I'm aware they don't hold a 1:1 equivalent, but they'd still maintain some minimum ratio to prevent insolvency. Based on what you're saying everyone in the entire world could convert their assets to tether and we'd be fine. Of course that's a hyperbole, but still. Again, no idea if that is actually the case, but a large increase in demand would necessarily result in an increase in tether supply, if the exchanges were to keep a safe ratio to prevent insolvency. Although I wouldnt be surprised if most exchanges held basically no tether to begin with.

I actually think you are correct and the price is artificially inflated, but you can't take it as a matter of fact

>>13424818
You know what's a red flag? Someone with a vested interest in a declining shitcoin who knows their project needs bag holders to stop bleeding out.

>>13424811
I hate to tell you this, but that's not an argument either. >>13424680 This is the argument, I have highlighted it for you. If you can think of an argument for why I'm wrong, I'm happy to listen to it and respond if I think it has merit.

>>13424865
>I'm aware they don't hold a 1:1 equivalent, but they'd still maintain some minimum ratio to prevent insolvency

https://www.chepicap.com/en/news/7210/the-quadrigacx-timeline-as-it-happened.html

>>13424872
>>13424759 not >>13424680

in b4 'OMG HE MADE A MINOR ERROR HE'S A RETARD'

jej
that's like some retards saying the earth is flat and everyone tells him it's not and he tells everyone "that's not an argument"
> I'm happy to listen to it and respond if I think it has merit
it doesn't matter if you think it has merit, if you're too stupid to understand how tether works, no one cares for a response, i pointed out to you that everything you said in your original post doesn't make sence, i'm not trying to discuss IF it makes sence because i already know that it doesn't. just like the flat earth shit

>>13424982
Not an argument. You should look into Dunning-Kruger though, it may help you on your journey to self-awareness.

>>13425024
topkek i knew it. people that are writing in allcaps to look like they're having a panic attack are always trying to bait. you got me good this time fren

>>13425050
I'm not trying to 'get you'. There actually are some people left on 4chan who want to have adult level conversations about the topics of the board they're posting on.

>>13424329
bzzzt bzzzt

>>13425103
*turns phone off*

Recap in case anyone is confused, I know a lot of you are having trouble following this because it's not dumbed down for you like CoD or any of the other stupid shit you've been raised with:

>>13424669
Not directly, but if everyone is buying tether and holding it, the supply dries up and they are forced to print more to meet demand.
I have no idea if that is the case, but an increase in cap does not inheritly mean artificial pumping of btc

>>13424759
Let's say you are trading on Binance, and you have one Bitcoin. Uh oh, you think, it looks like a dip is coming, I better Tether up. So you put an order in and a little while later, your 1 BTC becomes roughly the equivalent amount of Tether. But for what you're saying to be true about the supply drying up, you would have to assume that the exchange was operating on a 1:1 ratio for all their trades, and not a fractional reserve. If you don't know or don't think that exchanges are operating fractional reserves, you probably made a terrible mistake in becoming a crypto trader/investor. That's the simplest answer I can give you for that. What is actually happening with the trading does not usually directly affect the market unless the price movement is so significant that it forces the exchange to trade with other exchanges/pools/dev pools, which is usually when you get the big double-digit rises or drops.

THIS ABOVE PARAGRAPH is what you need to reply to with an argument if you think I'm wrong/stupid/insert meme word here

>>13424872
>Someone with a vested interest in a declining shitcoin who knows their project needs bag holders to stop bleeding out.
dunno what you mean

>>13425288
I am saying you are arguing against Tether because you would rather people just hodl their bags in BSV, to try to keep it from dropping. Even if the amount of BSV that is actually legitimately traded (meaning not bots or wash trading) is much smaller than reported volume.

Come on you misunderstood geniuses, show me your unrecognized brilliance.

>>13425238
You didn't correct what I said at all, you just pointed to one shit exchange with no reserve. Unless you are saying evey single exchange will approach border line insolvency instead of just printing more tether then sure, but that makes no fucking sense. Sufficient demand must increase the supply of tether for the system to work. The question is just whether there has been sufficient demand

>>13425441
I'm not saying they will approach borderline insolvency, I'm saying they're already there, where they've been the whole time, right from the beginning. This is why crypto is accused of being a Ponzi scheme. Doesn't it seem strange to you that withdrawals can take days, or even weeks? Especially when there are advanced levels of KYC in place. I am saying the reason this happens is because most/all exchanges keep minimal coinage in hot wallets, and rely on incoming customer deposits to pay out outgoing customer withdrawals.

This is why the supply of Tether doesn't matter for how you're actually trading it. The mcap you see on CoinMarketCap does not represent the trading value, because as I said, does it seem reasonable that everyone tethering up on a big dip would only represent less a 1% price movement? You are not actually trading anything in reality when you make the trade.

>>13425566
The issuers of tether do not have any contractual obligation to provide USD in return for tether. Consequently, they have 0 liabilities from using tether and are unlikely to be insolvent. It's worse than you think

>>13424872
>Someone with a vested interest in a declining shitcoin who knows their project needs bag holders to stop bleeding out.
Which coin is that?


Can you please educate us, since there is so much confusion and misinformation about Tether.
1)What is Tether?
2) How does it work in reality?
3) who is behind it?
4) what are they doing with it?
5) Safe advice and tips

Thank you anon

>>13424379
>Tether would have been shut down by now if it was dodgy

just lol

liberty reserve lasted 7 years

bitfinex will get rolled by the secret service within 2 years, learn about the remit of the patriot act, or am I supposed to believe that the US government is never going to turn over a company that is printing as many ponzi backed virtual US dollars as it likes

>>13425802
this will happen but not anytime soon. The big boys need their taste.

>>13424224
cool screenshot lol

>>13424818
cope

>>13425802
>2 years
have fun missing out on the next bull run because muh tether FUD

tether mc has been going up steadily because everyday more and more brainlets wake up to the correct way to trade in a bear market....you move in and out of stable coins. holding anything else when you're not in an active trade is stupid.

>>13425764
Nope, he wont. Ever. That would show he has now fuckig clue

>>13425764
>Which coin is that?
BSV. I was replying to someone who clearly identified himself as a BSV shill.

>1)What is Tether?
Digital fiat currency backed only by whatever cold wallet assets Bitfinex has, in theory.
>2) How does it work in reality?
It's used at big exchanges for market making.
>3) who is behind it?
That you would have to look into on your own.
>4) what are they doing with it?
They use it to simulate whales buying large amounts of coins, especially when the price is dropping, because they know people will see the big orders and think that the dip is over and pour their money back in
>5) Safe advice and tips
Get out of crypto now. In the future there will probably be better digital currencies than the experimental hyperinflated coins that are on the market now. When people are talking about 'use cases', that's a pretty good sign that it's useless.

>Thank you
You're welcome!

>>13425702
Way to miss the whole point of the thread, lol

>>13425894

I'm still making my stake but it will be a kick in the nuts when it happens, and it will happen

>>13424224
>He thinks the yellow line is market cap
wew

>>13426030
Nice timing.

>>13424224
FUCK YOU CUNT
learn about supply & demand first BEFORE spewing NONSENSE on HERE

>>13426428
How about, read the thread before you post, lol

Read this you moron >>13425238

>>13426041
What coins do you hold?

Where do you see the whole of the crypto market next?

What do you think of BSV and CSW?

and to think theres retards on here right now that think volume isnt fake and tether is legitimately backed by almost $3 billion USD(whilst being banned in the US) and not a device used as a fake pumping scam
how the fuck do you guys justify tether almost 3x’ing since the 2017 BTC ATH? Where the fuck did the +$2 billion come from? You’re telling me they made 2 billion after everything dropped 85% from ATH
>>13426428
youre gonna get rekt kid

>>13424362
>>13424300
Do you have any idea how exchanges operate?

>>13426490

USDT is long been proven to be a speculative shitcoin and major exchanges are leaving it in droves.

>>13426041
>get out crypto now
Not unless you falsify all the other stablecoins that are actually backed by funds.

>>13426598
>What coins do you hold?
Nothing anymore.
>Where do you see the whole of the crypto market next?
I don't see today's crypto going places. It's just become a dirty grey market and they've fully taken advantage of the lack of regulation to manipulate it as much as possible. This is why mainstream regulators don't want to touch it.
>What do you think of BSV and CSW?
Shitcoin shilled by a con man who probably bit off more than he can chew this time.

>>13426627
Did you read the post I keep linking back to over and over again? That will answer your question.

about 700 million tethers "new dollars" entered the market in the last three weeks
almost a billion "dollars" into the market and the market cap barely moves
i kept/keep telling ppl, you are an absolute clown if you're buying before the tether collapse
waiting in fiat for the crash so i can scoop cheap coins while you faggots neck urselves

>>13426781
cope. bitcoin is going to infinity billion dollars.

>>13426732
>>13426765
>>13426732
No replies eh, wasn't expecting it to be that easy tbqh, after reading all your demands for arguments.

>>13426781
I believe in the tether collapse but who knows when will happen.
Im a bear but the tether collapse is a meme that people tell since 2017

>>13426875
I didn't respond because your post doesn't make sense. How would I 'falsify' other stablecoins?

>>13426041
The Rothschilds are behind one of the stable coin models.

>>13424224
>>13427003
The invest in blockstream too. Bitcoin is Fucked

This thread was very satisfying. I don't know if anyone learned anything, I hope some did, but I had fun.

One more thing. Notice that Tether's mcap went up by more than 100 million today on CMC?

:-)

Good luck!

>>13427549

oNe mOrE tHiNg

Absolutely seething here

>>13424224
you are an idiiot

>>13424269
yes it would you fucking automaton. YOU ARE AS STUPID AS A FUCKIN GNAT.

mcap 2.7b vol24h 15b hahahaha ohnonono

>>13424269
sure it would, as more people tether up it reduces the supply of tether, raising it's value... but wait, tether is supposed to be tied to a dollar! how do they fix that?!?!
>print more tether brainlet

>>13424269
yes it would, it is supposed to maintain a 1 to 1 peg, so if people are cashing out through bitfinex, bfx needs to print additional tether to cover that crypto to fiat movement.

printing more tether = increasing market cap since it's pegged at $1

>>13424383
have you even read the article that you linked
you have no idea what ad hom is