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/biz/ - Business & Finance

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6581607 No.6581607 [Reply] [Original]

How? What do they do, so it's so steady?

>> No.6581675

lmao

>> No.6581699

>>6581607
Whales accumulating. Moon mission next week. Get in now.

>> No.6581700

It's just consolidating this shit is going to moon soon I can feel it

>> No.6581710

>>6581607

bro, its a scam.

Tether will destroy btc in the end.

>> No.6581711
File: 66 KB, 1000x667, ay_110765184.jpg [View same] [iqdb] [saucenao] [google]
6581711

>>6581607
>Doesn't know about the Bogdanoff partnership
>Untethered in 2018

>> No.6581728

>>6581607
Don't worry bro, it'll be $20 eoy

>> No.6581762

Tether is literally a ponzi scheme

>> No.6581769

>>6581710
Tell us why. Everyone screams scam and spreading the same boring FUD

>> No.6581794

It's value is backed by real money. Of course it's a scam and the money doesn't actually exist.

>> No.6581799

I fucking guarantee that people are "holding" way more Tether than actually exists right now. The real crash still hasn't hit. Get out now normies.

>> No.6581865

>>6581794
proof? Exactly. there is none. They're printing it with no proof of backing. They've apparently been undergoing an audit but even that has turned up nothing. They've said all this shit and shown us no results. meanwhile...

https://twitter.com/tetherprinter

>> No.6581925

>>6581769
There is no evidence that printed Tethers are actually backed by fiat reserves

>> No.6581952

>>6581865
Obviously the have to print more tether when the demand goes up otherwise you cannot guarantee a $1 flat price.

The demand especially goes up in Dips and crashes which are leading to more tether.

Once the demand flattens out and ppl rebuying the correction, tether will be sold and burned for fresh Fiat to back the system.

Muh tether scam

>> No.6581970

>>6581675
GTFO.

>>6581794
How it is backed then if money doesn't exist? Exchanges are not that stupid, right?

>> No.6581974

>>6581925

This.

You are basically buying IOU's, when you buy tether.

It's literally just like buying NOTHING, that you all mutually agree is a dollar. Therefore, when you trade it for crypto you inflate it.

>> No.6582023

>>6581974
>You are basically buying IOU's, when you buy tether.
real dollars are just IOUs by the american government desu

>> No.6582052

>>6581974
so like fiat? hm maybe it's not that bad after all

>> No.6582055

>>6581952
You. Fucking. Retard
https://medium.com/@bitfinexed/the-bitfinex-dilemma-blow-up-now-or-try-a-hail-mary-to-retain-in-business-10b9d989359f

https://medium.com/@bradfrankel16/why-a-tether-audit-would-ruin-bitcoin-96da091cc154

https://medium.com/@BryceWeiner/now-i-have-to-blog-about-it-5ea222d9e9a

We are standing on quicksand

>> No.6582056

>>6581974
>It's literally just like buying NOTHING, that you all mutually agree is a dollar.


So like a $1-note? kek

>> No.6582069
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6582069

>>6582023

Right, but the government backs your dollar IOU with nukes.

Whereas, Tether is backed by a shadowy crypto company, that they "claim" is backed.

>> No.6582100

>>6582055
i think tether/bitfinex will be the reason for next big crash. what we're seeing right now is nothing.

>> No.6582104

>>6582069
LOL at nukes.

>> No.6582106

>>6582023
Yeah and in case of a bank run, assets are insured and can be bailed out by taxpayers
Who's gonna bail out us if there's a Tether bank run?

>> No.6582167

tether is a scam as there isn't a USD equivalent for every USDT
When everyone wants to convert back into altcoins and btc its gonna be a shitshow

>> No.6582170

Why isnt there a Tether competitor? Would be great for us in form of security.

>> No.6582200

>>6582100
ah, I see you are a man of culture as well

>> No.6582235

>>6582170
Why? Then you will have another coin like Tether with no backed up fiat in their bank account.

>> No.6582244

>>6582106
Just shows the perfect system we are living in.

>Bank goes bankrupt
>Muh taxpayers pays for a private business bankruptcy
>State is the hero - fuck the tax payers

I don't see any problem with tether. Printing more in higher demand situations is obviously needed.
>Not wanting any audit by the IRS? OH NO, must be a scam. Lmao.

>> No.6582251

My word, people not understanding simple economics.

>Exchange sells 10k tether for 1 BTC
>Exchange instantly sells 1 BTC for $10k
>Exchange makes fees on both transactions.

Fin.

>> No.6582254
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6582254

>>6582170
https://jibrel.network
there is now, and they just had a conference partnering with Unitied Arab Emirates royal family

>> No.6582260

>>6582170
Biggest problem would probably be to get the deals with exchanges
USDT already is in a comfy place at the biggest

>> No.6582275

USDT is backed by USD
USD is backed by nothing.

>Must be the ultra epic scheme, oh wait that's fiat anyway

>> No.6582306

>>6582170
There are. You're just a newfag who gets all his information from /biz/

>> No.6582349

>>6582275
I hate to say it but because muh luburturian suciulusm but.....gold

>> No.6582381

>>6582275
>USDT backed by USD
allegedly

>> No.6582408

Whales are putting up sell walls to keep the price at $1

It will be $3 by tomorrow

>> No.6582418

>>6582306
To you and anyone here: Please do not call other 4chaners with newfags, pajeets, shits etc etc..

Because we have no respect between us, other will not have it to. We are all here trying to learn and earn something. If we keep fighting other will use advantage of that.

>> No.6582432

Stop looking at fiat value, look at sats

>> No.6582440

>>6582418
pajeet detected

>> No.6582449

>>6581769
Are you fucking retarded?

>>6581974
Except IOUs imply they actually owe you, Tether creators will legally just walk away with everyones money. Tether is not even being legally ran in respect to US laws.

>> No.6582473

>>6582167
Banks are a scam too, they also don't have all the money in their reserves that they lend out

If every customer of a bank went and withdrew all their money, they'd be fucked

>> No.6582478

Hold up. So am I the only faggot holding his coins right now. Is that what all yoh pussies are doing? Tether?

Show yourselves. What's your guys plan, buy the dip meme? Tether? Or iron handing. I hope I'm not holding the line alone

>> No.6582499

>>6582440
Wow congrats

>>6582449
>Are you fucking retarded?

There is no hope for us.

>> No.6582505

>>6582473
The bank is insured by the US government which in turn is backed by their ability to levy tax on 300 million people.

>> No.6582516

>>6581974
It's like fiat then...

>> No.6582518

>>6582473
Thats why we created crypto, we have the numbers to back it up
Now they are just inserting retarded concepts into it on purpose
And anyone tethering their money instead of just cashing out is probably only doing that because they have to pay a ridiculous amount of tax if they cash out

>> No.6582568

You fucking pussy consolidating to tether, God one day it will just you I hope, one day

>> No.6582569

>>6582499
>>6581970
>How it is backed then if money doesn't exist? Exchanges are not that stupid, right?

>>6582418
I don't know if your a newfag or a retard or just trolling but you deserve to have all your money taken by smarter people

>> No.6582594
File: 53 KB, 487x730, cf1cbac07f38a4ac0db3c03ca67f318a--young-girl-models-young-girls.jpg [View same] [iqdb] [saucenao] [google]
6582594

Tether is scam like Tron, like MT GOX and it will crash and destroy the markets down further

>> No.6582622

>>6581769
>tell me why BCC is a scam, all i hear is the exact same FUD

>> No.6582635

>>6582449
except they make more money charging fees

>> No.6582671

>>6581925
who cares they can just print usd if some are missing.

>> No.6582830

>>6582569
I can probably be your father.

And you are what? Some kind of smart boy? Maybe genius. No, you are just plain stupid as your comments.

>> No.6582988

>>6582622
BCC gave you 100000% yearly roi
Tether gives you literally nothing

>> No.6583082

>>6582988
it promises a guaranteed 0% roi
which they can't because it it was totally transparent and honest they would admit they don't have the fiat to back it up and that would mean that the roi would drop below 0 at points defeating the purpose of this coint entirely

I swear Tether is gonna fuck us up so hard, which is the most ironic thing ever
Its like keeping your money in a piggybank that spontaneously combusts when u open it

>> No.6583106

>>6583082
Then the crypto is dead anyway

>> No.6583373

>>6581769
>>6581700
>>6581675
>>6581699
the way they keep it at 1$ is kraken allows wash trading so there is bots on kraken every second of everyday wash trading keeping the price pegged at 1$
huge scam just wait for it to blow up and take bitcoin with it

also check out https://twitter.com/Bitfinexed
he has been saying this allalong and he is right

>> No.6583406

>>6583373
tether has been inflating the price of all coins by using bitfinex they print tether then send it to bitfinex to pump the price with fake money

>> No.6583545

>>6583406
https://twitter.com/Bitfinexed/status/953398351889944576

https://twitter.com/Bitfinexed/status/953253089301188608

https://twitter.com/Bitfinexed/status/953014563280125952

https://twitter.com/Bitfinexed/status/952625671125307392
https://twitter.com/Bitfinexed/status/951947394391961600

>> No.6583570

>>6583406
What exactly do you mean by they are printing Tether?

>> No.6583637

>>6583545
>>6583570
>>6583570
>>6583570
>>6583570
https://twitter.com/Bitfinexed/status/952616609230794755

>> No.6583665

>>6583570
they literally just make tether out of thin air

>> No.6583677

>>6582260
What company is running TETHER ?

>> No.6583700

>>6583570
I hate to have to explain it and that Tether will pose a giant risk to the crypto space
Tether is backed by USD 1:1, so whenever they don't have enought tethers to sell to the people converting to it, they print more of it.

Altho this only happens during dips and crashes. When the crash is over and everybody wants to convert back into the corresponding amount of coin, they are gonna run into the problem of not having enough fiat.

The Tether company supposedly has enough fiat to back every USDT with a USD but that has never been proven as their company isn't audited and in Panama.
This is it lads, we officially flew to close to the sun with this one

>> No.6583708

>>6583677
TETHER IS BITFINEX lookinto it

https://medium.com/@untetheredbtc/how-the-tether-usdt-distribution-system-works-84a5c673bec0

go down the rabbit hole if you dare

>> No.6583728

>>6583700
...

>>6582251

>> No.6583813

>>6583708
if tether is run by bitfinex, we are all fucked arent we...

>> No.6583874

>>6583700
Thank you good anon

>> No.6583876

>>6583813
yep its going to be a sight to see when it all blows up

its only a matter of time....

>> No.6583947

>>6583700
>>6583876

Fuck this im getting out.. should i wait for one more good bump or just take my 40% losses ?

>> No.6583948

>>6583700
>What are fee earning?

Think they would ever run out of USD. Tether is a legit gold mine and they get rich by fees alone.

>> No.6584010

>>6583700
>When the crash is over and everybody wants to convert back into the corresponding amount of coin, they are gonna run into the problem of not having enough fiat.
This is so fucking retarded it's untrue.
What do you suppose they do with the crypto that people are buying the tether with?
Would like like me to explain?
They are converting it into USD, so that they have a 1:1 ratio of Tether to USD, it's not fucking rocket science...

>> No.6584056

>>6584010
the ting is you cant buy ther with fiat do you honestly belive that people are buying billions of tethers?

>> No.6584088
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6584088

>>6584056
old bitfinex docs

>> No.6584115

>>6584056
?

>> No.6584121

>>6584010
also tether dosent even have a bank btw how can you pay fiat for tethers with no bank?

>> No.6584155

>>6584056

They are selling crypto to the dollar ffs.

You buy 1000k USDT with 1BTC
Bitfinex sells that BTC for £1000 to keep the ratio of $ to USDT, so that they can sell them back and not make a loss.
They are hardly likely to keep a declining asset as that would cripple them as suggested.

>> No.6584184

>>6584121
Don't think anyone can help you on this boards. Sorry sirs, go ahead sirs. thanks sirs.

>> No.6584185

>>6584155
$10000 sorry typo.

>> No.6584188

>>6584010
If you think every time Tether prints 100 million dollars there is actually 100 million US dollars backing to it, then you simply might be a retard.

It literally says this is monopoly money and we are not responsible for anything in the terms. I think they are not even obliged to pay you in USD for the tethers.

>> No.6584222

>>6584155
hah you can believe that but they dont even have a bank that supports them


https://medium.com/@untetheredbtc/how-the-tether-usdt-distribution-system-works-84a5c673bec0

holy fuck i cant wait for this ponzi to crash >>6584188
>>6584188
exactly

>> No.6584251

>>6584188
Jesus Christ, they dont need to print anything, they just need to ensure they sell the crypto to USD at the same time they you trade it to them for USDT.

It's a simple process, they are not stocking anything, except USD.

>> No.6584277

So when did TETHER become a thing in the crypto world ? long time now i assume ?

>> No.6584342

>>6584251
Nigger do you think some anonymous startup that's banned from US financial markets has 3 billion liquid FIAT in some shitty Hong Kong bank account? Either that or they are just making up numbers for the gullible idiots on the internet. Which one is more likely?

>> No.6584343

>>6584251
Stop it. Tether is the most FUDded crypto thing for months and hopefully it stays like that. Don't try to convience people who literally got no clue about the basic 101 economy.

>> No.6584368

>>6584277
Beginning of this year when BTC started soaring from 800.

>> No.6584427
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6584427

>> No.6584429

>>6584343
People just not understanding they are converting the crypto to USD is the crux of my point here.
They stock no crypto that people are converting to USDT, or do you suppose they are?

>> No.6584431

reading through this thread reminds me of how retarded most of /biz/ is

>> No.6584464

i think tether was legit until they lost banking thats when they started having to print more tethers

>> No.6584494

>>6584427
You have to print more Tether when the mcap goes higher and the overall demand for tether growths? Oh fuck. Rocket science in the chart.

>> No.6584517

>>6582069

ya but what are nukes backed by?

>> No.6584519

>>6584431
Wow another smarty boy.

Im wondering how with so many smart anons nobody saw or warn that
there is a crash around corner?

>> No.6584520

>>6584464
didnt bitfinex get hacked for like 100 million tether or something like that ?

>> No.6584579

>>6584520
yep 30 million tether "stolen" i think that was before they stopped caring about looking fishy af

>> No.6584640

>>6584519
i bought BTC at $200, i don't really care about crashes. it's a long term hold.

>> No.6584715

well this is going to be
MtGOX all over again no point beating a dead horse everyone knows tether is a scam anyways

>willybot and MtGOX was printing fake money >on their exchange to buy bitcoins.
>now Bitfinex is doing the same fucking thing.

/thread

>> No.6584729

>>6582275
USD is backed by the most powerful army in the world.
That's the only reason it's still alive.

>> No.6584834

>>6584729
and a few people that make a fair amount of money and must pay their taxes in USD or face being jailed

>> No.6584840

why the fuck did exchanges let usdt be a thing ? its sounds like we found our trojan horse that will kill crypto as we know it

>> No.6584842

>>6581607
i put only 800 dollars into Tether last year, just held on to it and now I am at almost 24k. Sold off half of it to buy a used car. idk why anyone would buy bitcoin, its so unstable, Tether is the way.

>> No.6584923

>>6584842
I must be stupid, but how you got to 24k? You should stay at 800, right?

>> No.6584925

>>6584842
if tether is 1:1 how did it 300x

>> No.6584985

>>6584840
it helps keep money locked into the ecosystem

>> No.6585478

>>6584842
well memed
well memed ineed sir