/biz/ - Business & Finance

That's pretty steep. I wonder what's going on.

>>54498865
>>54498884
I trade Bitcoin for Gold directly and vice versa.
I buy Oil with Bitcoin or Gold.
Why is Bitcoin still not going up in US Dollars?
Why would anyone need Tether?

>>54498890
>Why would anyone need Tether?

It's a long story.

>>54498895
Is it true that is 1:1 bound to the USD?
But no one wants the USD anymore. I really do not understand why anyone would do that.

>>54498902
>Is it true that is 1:1 bound to the USD?
Supposedly.
>But no one wants the USD anymore
If that were true then tether wouldn't be a thing.

The US dollar is declining, but it's still very much so the world reserve currency.

>>54498918
Sorry. but i don't need either USD or USDT for trading stuff.
Lithium Carbonate for example ist traded in CNY/T.
Maybe i should hold CNY instead?

>>54498929
Not to be mean, but what you 'need' is pretty insignificant in the scheme of things. The big players need tether/USD and that's what matters.

>>54498944
But i need CNY to buy Lithium Carbonate to make batteries for electric cars.
USD is irrelevant in that trade,

>>54498962
>But i need CNY to buy Lithium Carbonate to make batteries for electric cars.
You don't, they still accept USD.

>>54498974
>they still accept USD.
Only if you buy prefab. Are you from the past?

>>54498962
The thing is, if CNY gets too strong then china will stop being the big manufacturing hub it is now, wages are already drastically higher than any other developing nation. That's why they are constantly trying to devalue it.

Even china wants to keep USD as the world reserve currency.

>>54499032
Its not about being stroing.
Its about they have the product and the US has not.

>>54499038
And how long will they have the product?

>>54498982
No, pretty much every company in China accepts USD. There's no law about them only accepting Yuan and it is not common practice for them to demand only Yuan. You'd know that if you actually were sourcing electric car batteries.

>>54499043
I dont care i buy where it is available.
>>54499047
>sourcing electric car batteries.
Midwit take see >>54498982

>>54499038
https://thedriven.io/2023/04/03/scientists-hail-new-battery-with-4-times-energy-density-of-lithium-ion/

>>54499056
>sourcing components for electric car batteries.
Pedant.

>>54499057
GIve me a production ready license and its on.
Right now - it is not.

>>54499064
>Its about they have the product and the US has not.
Your words and they are obviously gunning for it.

And why no comment on Chinese companies accepting USD? They pretty much all do to the point that it's irregular if they don't, you do know the RMB is pegged to the USD?

hopeless
have fun staying poor

>>54498884
This happened to usdc before the depegging too. Like insiders know something

>>54499102
Why no comment on Chinese companies accepting USD

>>54499102
In fact looking into it, the largest producer of Lithium carbonate used in EV batteries is some American company called Albemarle. As in globally the largest.

>>54499170
A sign of light here. Albemarle is doing the arbitrage, yes. Spot is still CNY. What does that tell you?

>>54499188
>Albemarle is doing the arbitrage
No, they have a mine in Nevada. As well as mines in WA https://www.albemarle.com/western-australia#:~:text=Talison%2C%20through%20its%20wholly%2Downed,the%20rest%20of%20the%20ore.

>>54498865
Wtf is this
Coinmarketcap tether marketcap shows no drop and is still increasing

>>54498944
>Not to be mean
go back

>>54499194
>they have a mine
>Spot is still CNY.

>>54499207
>Majority supplier is a Lithium mining and processing company in the USA.
I'd interpret that as them selling directly to Tesla.

>>54498865
usdt mcap is going down because people are dumping it for bitcoin, duh

Tether is unironically the only thing keeping Bitcoin alive

>>54498865
money moves from tether to btc

>>54498865
zoom out you idiot

>>54498865
never seen volatility like this
thinking it's to do with transfers from tron network

>>54487083

>>54499249
This. But its bloody impressive that they have managed to maintain the peg all these years. There must be huge pits of money invested in keeping the gravy train running.

>>54498865
Looks like something happened earlier today or yesterday but it bounced right back up

>>54498865
And on a higher timeframe it is looking quite bullish

>>54499032
It is funny how few people understand this.

>>54498865

>>54499032
AFAIK they want to dump it but not too fast. Trade for it with US as burger national currency, sort of what GBP is at this point

https://twitter.com/paoloardoino/status/1644299274086121472?s=20

>>54499032
Brainlet here, why can't China just print more CNY to trade with BRICS countries so 1. it makes USD less relevant on the world stage and 2. the printing of CNY inflates its total supply thus devaluing it, allowing it to remain the big manufacturing hub? And since the total amount of Chinese bonds held by foreign countries are already steadily declining and the fact that those foreign countries are rival countries, printing more money and devaluing CNY would only hurt the rival countries and not countries in China's trade alliance, so wouldn't just by printing more CNY they can remove USD from being the reserve currency and keep CNY weak?