/biz/ - Business & Finance

yeah. because people wanted to buy them
tether fud is the dumbest fud
because tether is the most basic crypto business to understand
and the currency isn't worth trying to manipulate

>>6672456
>100 million more tethers printed out of thin air recently
>Think about that for a second

>>6672456
buy zcl in this dip. think about it

Why are people fudding about Tether?
As if one day too many people will cash out on it lol.

>>6672456
Wow almost like every other coin here. I don't understand I've spent thousands of dollars on this shit and have yet to recieve a single real tangible coin I keep messaging Binance support and they still haven't answered... guys??

>>6672456
>printed
do you know what that word means? i don't think you do.

>>6672679
It wouldn't really take that many people trying to cash out to start a chain reaction. No one actually believes they have 1-to-1 reserves, so everyone will be on their toes to make sure they can cash out before the limited money runs dry.

No one has ever successfully cashed out of usdt. Their own whitepaper says tethers are burned every time it is redeemed for fiat. Now go look at their supply, it only grows and never shrinks.

>>6673168
>redeeming usdt for fiat
>how_to_be_retarded.jpg

>>6672456
not bad, the bernanke edit is better tho

>>6673168
>>6673236
Wait, seriously? Like 0 people ever?

>>6672932
there is no way to cash out. You buy bitcoin or other crypto to cash out. When tether implodes crypto will temporarily skyrocket

>>6673306
0. You trade into other crypto and cash that out

>>6673168

so even if the 1to1 reserve meme is legit it actually doesn't even prop up the tether price because 1USDT can't actually get you 1USD

what the fuck, why bother?

>>6674049
Youre fucking retarded he is saying that you CAN cash out usdt to usd but no one has, they only use it as a bastion to protect against dips, coins themselves get traded directly flr usd

>>6672574
This
Notethies are deluded with their conspiracy theories
Tether is useful as fuck, they print more tether during crashes because people want to lock the price so they need to print more. Really not that hard to understand.

>>6673168
Are you genuinely retarded? Are you even aware that USDT is traded just like any other coin? Why do you think its value stays close to that of the dollar?

>>6672456
How retarded are you? People are buying more tether because crash is coming and that's why they need to print more of it.

>Banks prints literally billions of dollars every day, and has been doing so for decades

Your point?

ahhhhhhhhh were still going down and theres still no end in sight tether save us

Tether has printed $450M in the last five days. That's the same amount it printed throughout all of December, each time introducing it at a critical point when it looked like BTC might drop down past $9k.

It burned through tonight's helping in less than 10 hours. That's not FUD, that's a fact.

The reason for the threads is that they've overstepped the line from believable to blatant DGAF manipulation and are playing with fire. It'll be MT GOX x 100 if (or more like when) the law catches up with them.

>>6673841
If there is legit no way to cash out then what's the fucking point?
It's just a coin they sell for $1 each that only they can mine?

but really the sheer delusion on this thread is horrifying

tether is a company thats supposed net worth is 1.7billion?

kek I just need to cover my hear and not hear anything, for something to be true

>>6672679
Uh yeah. Its exactly the same as a run on a bank. You know those FRACTIONAL RESERVE banks. That's what Tether is doing. They don't have the money to pay you for your USDT. Not all of you. If a few of you cash out its fine. But if there is a panic and everyone Tethers up and tries to cash out most people aren't getting paid. They don't have the money and they never did.

Does no one else find it funny that the entirety of the crypto market depends on propping it up with the same centralized fiat currency (USD) that crypto itself is supposed to be a replacement or at least an alternative for?

I am not sure about all of this tether fud:

2 possible scenarios:

1. Exchanges work together:
Binance mails Finex and says; guys, we just got deposited another 50 mil in total. Print us 50 mil tether and we owe you 50 mil USD (maybe they transfer the money, maybe its just a lending-contract)

2. Overall, its 1,7 bil USDT (or USD). Isnt it possible, that all of the exchanges have been deposited 1,7 bil USD since the creation of tether (or only Finex got deposited that amout of USD)? Its not that much money considering the global market of crypto.

Maybe both scenarios even work together. Maybe Finex has been deposited 2 bil USD already and they just bring tether slowly into the system, exactly to not blow this whole thing completely up?

>>6673306
it is true. Literally no one has ever cashed out using Tether (the company)

>>6672456
Close, actually $450 million in the last 5 days.

>>6674682
You're scenario 1 is even worse because then the responsibility is on multiple parties, where just 1 of them could fuck up the whole thing.

>>6674723
It's because Tether is so safe. Tether have a got a customer service line which will do the cash out for you over the phone. Solid.

>>6672456
100 million is practically nothing at this point, even i just moved 1/3 of my portfolio( which is like a 300k or so) in Tether. Call me when they print a Billion next time.

>>6674265
this market is based 99% on speculation though, the money the banks print can be exchanged for tangible goods, this makes it way more stable then this fake money which everyone is using to increase their fiat investment with.

>>6674574
yes, that's what i've been saying on this board for so long, it's going to come down so hard any day, especially with all the dumb money entering since bitcoin hit even 1k.

>>6675915
but that means the tether people have lost tons of money buying bitcoin at 20k. or they don't actually have enough USD to cover it.

https://www.reddit.com/r/CryptoCurrency/comments/7rf3aw/tether_information_statistics_and_analysis/

Too much effort to copypaste all the links separately, go to the above link if you want them. There are a lot of links. Comment too long.

Recent Events
Unless specified otherwise, all numbers refer to Omni issuances.
100 million USDT (omni) issued today
4 days in row, 15th-18th, of 100 million USDT issued per day.
550 million for the month.
800 million in the last 30 days.
All USDT is initially sent to Bitfinex.
Issuing Address -> Tether Treasury -> Bitfinex -> Various exchanges.
Mostly seems to be currently flowing to Binance and Huobi, though there also considerable amounts going to other non-Western exchanges.
Two unknown addresses received about 35 million USDT each in the last couple days, making them currently #7 and #8 on the Rich List.
The amount of USDT held by western exchanges has either greatly decreased or remained about the same.
One of Poloniex's two known tether addresses has recently, between Jan 13th-Jan 18th, been almost entirely drained and sent elsewhere.

Expect more USDT to be issued when Bitfinex's USDT account balance becomes depleted or Bitcoin drops too low, whichever comes first.
Its balance is down from the 100 million sent this morning Jan 18th, US time, to 883,490 now and quickly dropping. May have another issuance soon to replenish their supply.

Tether Ownership
Based on currently known information
Tether's provided listing of address owners and their amounts.
63% of USDT held by 4 addresses.
75% of USDT held by 10 addresses.
82% of USDT held by 32 addresses.

Tether Totals
28% of all USDT issued in Jan 2018.
1.95 billion USDT (omni)
30.1 million USDT (ethereum)
14.6 million EURT (ethereum)

Tether Info Spreadsheet

Addresses to Text
To better track where everything is going on the omni explorer site.
Userscript used
Data to paste in the userscript
Example image of what it looks like afterwards:

Do you have any insider crypto information? Something shady going on in the world that you know and want to share?

https://www.thecryptowiki.org/Crypto_Confessions

Post your confessions here for the crypto world to see. End tether.

>>6672456
>100 million will never be enough to pump it back to $20K

TELL THEM TO PRINT MORE GODAMMIT!

thanks for convincing me 90% of you guys are morons

>>6677370
Tether Information Spreadsheet
https://docs.google.com/spreadsheets/d/e/2PACX-1vTAeeZ0grT85UJ2ilerQhNVA4cr0_IMo9HsOmefjeWGIxwOqXeKyMoetBO8T2W_z-4pxwj57XfccpAl/pubhtml

Burger hate on this board will increase exponentially after the feds audit them and the market gets a mtgox style dicking because they don't have the reserves

>>6672456
At some point you will realize what tether is and what it represents, It won't be too long after that, that you'll realize how much of a retard you really are.

>>6677498
I'm a burger and I hate myself and all my countrymen. I also hate Mexicans

>>6674371
>If there is legit no way to cash out

it says so on their website, dude. you can't cash out for real.

"Once you have Tethers, you can trade them, keep them, or use them to pay persons that will accept your Tethers. However, Tethers are not money and are not monetary instruments. They are also not stored value or currency. "

i don't understand what y'all are even doing with them. i'm probably missing something. it's just a coin that never changes value?

>>6677592
>it's just a coin that never changes value?
It changes value.

>>6677592
Bitfinex, Bittrex, Cryptopia, and Poloniex, all use them instead of real dollars. Think about that for a second

>>6672456

yeah anon, we know it's a scam

wonder how much longer will it take to finally go bust

>>6672456
Based Tethergods saved us from an even bigger crash. Admit it op. Think about that for a second.

>>6677633

binance uses them, too. i get it. i even understand that it's like pretending to cash out. but it's not cashing out for real. if you "tether up" because BTC drops, you can't change your tether for USD. you'd still have to buy BTC or an alternative again to cash out for real.

so i guess you pretend to cash out, and then rebuy your BTC/ETH when you think the market is going back up?

>>6677592
Most exchanges use them instead of dollars. That is due to the complications of keeping liquidity, exchange rates etc.
1usdt= 1usd average, it does change but averages 1 most of the time.


Brainlets don’t understand that tether artificially keeps the price of crypto higher.

>>6677633
>>6677735
There are a lot more exchanges than that, that uses Tether. Just look on Coinmarketcap.

>>6677735
yes thats how anyone with half a brain does it.

>>6677774
More like the complications of banking regulation.

>>6677735
If u tether up while btc is at 15k
And then buy back in when btc is at 10k, and if you do it before most people do it (which drops the price of tether) you can buy 1.5btc instead of ur original 1btc.

Printing money out of thin air.

>>6677812
Mainly this, liquidity is just the issue that comes with banking regulations and banks outright trying to stop crypto.

You understand how tether works, r-right? If supply isnt increased to meet demand then the shit will start trading way over $1.
It needs to be *tethered* to $1.

If Tether bubble burst, it will bring entire market down with it and we could take years to fully recover.

Can someone tell me how tether "Loses" it's value? I'm not understanding how this is going to cause a complete market crash yet. What makes the coin go above or below $1.00? I don't believe tehre are USDT/BTC pairs where USDT can be sold or bought by USD on exchanges.

>>6677982
It goes up when demand is less than supply. It goes down supply is more than demand.
There are USDT/USD pairs.

How it could cause a crash:
Sell all USDT for crypto
Crypto prices spike.
Sell all crypto for fiat.
Complete crash.

>>6677901
Yeah that seems to be the situation.

They might "own" the bulk of their circulating market cap but it's not all backed in USD. Much of it just be crypto they get when people put lots of extra buy pressure on it.

>>6672456
Just use a non scam dollar coin like NBT

>>6678084
> There are USDT/USD pairs.

Got it. Thanks Anon. One more thing, were are the USDT/USD pairs?

>>6678165
https://coinmarketcap.com/currencies/tether/#markets
Bitfinex, Kraken, Exmo,
Good luck actually getting it to work though.

so someone made a coin and prints more coins so the value of the coin stays the same.

who cares if it's tied to real dollars if you can't cash it out? why isn't it enough that it's backed by people who print out more of it so that the price doesn't go up?

so strange.

"It is difficult to get a man to understand something, when his salary depends upon his not understanding it!". - Upton Sinclair

>>6677832
Don't worry dude this COULDN'T POSSIBLY be a bubble. Just printing money is totally normal in a healthy economy!

Someone correct me if I'm wrong:

When tether is printed, it never leaves the system. So if say a billion tethers are printed, then that's a billion tethers that will float around in the system forever, artificially inflating cryptocurrency without any new money present. Prices of crypto go up simply because fake money exists.

So if tethering becomes commonplace, and people run to it every time there's a bust, then eventually trillions of tethers could be floating around this system, bloating it to a price above the actual value of the market.

I can see how this can be a bad thing. Another thing to note, according to this: >>6677370

>800 million in the last 30 days.
>63% of USDT held by 4 addresses.

These white whales are worth 126M a piece. They have chosen to pull out of the market, hiding in a token that is worth essentially nothing outside the cryptosphere. They are so confident in pulling out of this market that they are willing to let 126M ride into the ground if this goes down.

I don't know exactly what this means, but it is most certainly bad for the near future.

Thought about it. Cool story

>>6679315
Refer to >>6677473
For more information.
The 4 addresses are exchange addresses, just so you know, not individuals. Almost all tether is held by exchange addresses.

>>6679401
Well, it could be all, but I haven't seen conclusive evidence of that yet.

>100 million more tethers printed out of thin air recently
>Think about that for a second

>>6679401

Oh shit, hahaha, that's good. Damn, I was freaking out a bit.

Well it's still not good, but yeah, better than titan whales exiting the market.

>>6674335
>>6674409
Don't bother.

You will never convince these people of what is blatantly happening right in front of their faces.

They desperately want all of this price action to be real, and to not face the fact that this market is utterly manipulated nonsense, nothing but a corpse that's been dead since December, a game of Monopoly money being propped up by counterfeit Monopoly money.

"Anything that points to obvious fraud and manipulation is FUD!!! Fuck off with your FUD, nocoiner!!!"

How'd that bitconnect FUD work out for the connecties? Most who weren't in the cult knew what was going to happen, and then it happened.

Most know what's going to happen with Tether. We just don't know the day. But if all the talk is any indication, that day seems to be approaching quickly.

>>6679428
>I'm too much of a brainlet to understand whats is going on so I'm going to try to make fun of OP

>>6677370
>>6677473
If it's unclear, I created the spreadsheet and the linked reddit thread because there uses for having something be more permanently existing in a convenient way.

>>6679315
GET RICH OR DIE TRYIN

>>6679521
It is truly ironic seeing the (albeit hilarious) BITCONECCCCCCCCCC meme being posted by people on this board who don't even think tether is a reason for concern

>>6679521
>he thinks normies searching bitcoin and reading wikipedia or whatever is in the top 5 results means they were fucking buying it
God damn dude... Really?

Faggots have been sperging about tether for over half a year. I notice the fud always significantly ramps up during certain times as well...

These tether threads make me feel uneasy.

>>6672456
It's funny because they used to print only 25-50m and now 100m is being granted regularly. I can't wait for daily 1b printing and retards defending this shit saying it's normal.

>>6677257
Yeah, but this is all digital money - it's not actually worth anything even if it actually was backed by USD. You think they would actually have to pay out? Lmao at you brainlets everyday.

>>6680031
AUUUUUUUUUUUUUDDDDDDDDIIIIIIIIIIIITTTTTTTTTTTTTTTT!

Gee people, USDT isn't a coin to be traded, hodl or speculated with, its there to bypass govt regulations which prevent the exchange to trade USD in number of cases. In EU for example, exchanges don't let u trade USD/BTC or USD/ETH, etc., but nobody can stop them trade USDT/BTC as the USDT isn't regulated, and it has the value of USD. Its meant to stay that way, 1 USDT = 1 USD.

>>6680303
So you say it's main purpose is for what would otherwise be criminal activity. Good to know.