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/biz/ - Business & Finance

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11405335 No.11405335 [Reply] [Original]

How is this even possible? Explain to me like I am a brainlet. How can the price of a tether fall if it is supposed to be one dollar? Who is selling it for less than one dollar and where?

>> No.11405346

>>11405335
People are using more tether than normal to buy other things like bitcoin, because they want out fast. So it's real dollar value goes lower.

>> No.11405357

>>11405346
So if people want 1 bitcoin, they'll give you 6100 USDT. But because people want out fast, they'll pay 7000 USDT for 1 bitcoin now. Meaning USDT is less valuable.

>> No.11405358

the emperor has no clothes

>> No.11405362

>>11405335
Whales are shaking the market. Easy chaos followed by easy profits

>> No.11405365

>>11405335
It's a scam. That's why. Also the price is much less than that. Coinmarketcap is delayed by hours.

>> No.11405377

because its a scam made for pussies that gamble with virtual money

>> No.11405392

>>11405335
He fall for one dollar mem.

>> No.11405404
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11405404

people are getting memed and jumping on the fear wagon?
how can i benefit from this situation?
go into tether while its cheap?

>> No.11405420
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11405420

>>11405362

>> No.11405443

>>11405335
Cause all them pseudo-USD aint backed up by actual FIAT. It's been hinted since that huge dip back in Jan, these guys kept printing non stop to keep BTC up.

>> No.11405456

>>11405404
>Go into thether while its cheap
Yeah do that if you wanna end get JUST'd epic stylw.

>> No.11405527

>>11405456
Don't think of tether as USD backed, it's just another shitcoin that you use to swing trade BTC.

>> No.11405529

>>11405404
It might pay off if you like risks

>> No.11405612

>>11405335
It isn't magically $1. It's $1 because the people who created and sold tether say they will buy tethers off you at any time in the future for $1.

But it turns out that they don't have $1 for every tether. So, it isn't worth $1. It might be worth $0.

>> No.11405691
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11405691

https://www.chepicap.com/en/news/4310/bitfinex-moves-all-funds-to-safer-bank-denies-hsbc-bank-partnership.html
>Dong mentions that the safer bank that Bitfinex and Tether have moved all their funds to will not be named to avoid regulatory scrutiny from the U.S financial regulators.
Yes we have billions of dollars to back up all those billions of tethers.
no we aren't going to tell you where our new bank account is, because we want to keep it hidden from the authorities.

>> No.11405794

Where do I theoretically sell 1 tether for 1 usd?

>> No.11405827

>>11405357
Ahhh, perception will fuck you every time, amazing

>> No.11405865

>>11405335
i cant withdraw from binance plus trading is blocked, i hate chinese people

>> No.11406020

>>11405865

This is blatant FUD, everyone. Withdrawals work fine.

>> No.11406058

>>11406020

For USDT? No, they are suspend.

>> No.11406118

>>11406058
Fundus are saifu >:(