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/biz/ - Business & Finance

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6773258 No.6773258 [Reply] [Original]

if tether is fraudulent, why wouldn't the exchanges just bail them out?

>> No.6773345

>>6773258
bump

>> No.6773449

>>6773258
bump, i want answers from tether fudders

>> No.6773457

I thought about this too. If tether doesnt have the reserves people think this woll result in a massive bear market since binance, bittrex, polo et al all use tether and will implpde too.

So if thats the case whats stopping them from pooling together to prevent tether from imploding? They are fucked either way.

>> No.6773493

it would be funny af if tether crashed and you fags got JUST'd as you lose a chunk of your blockfolio.

>> No.6773585
File: 17 KB, 300x222, 1516401123424.jpg [View same] [iqdb] [saucenao] [google]
6773585

>>6773258

bitfinex = tether
bitfinex = financial trouble


inb4 Mt. Gox x10

see:

>>6732552
>>6731733

>> No.6773711

>>6773457
not really. their business literally depends on tether not being fraudulent. i'm sure they have 1.6b between them.

my primary concern is that if suddenly the market lost faith in tether through some publication, they would spend too much time bickering over who owes what, and it would be too late.

on the other hand, all exchanges have huge financial incentive to investigate this issue. i hope they have.

>> No.6773956
File: 32 KB, 600x600, 1514119034280.jpg [View same] [iqdb] [saucenao] [google]
6773956

>>6773258
>>6773345
>>6773449
>>6773457
>Being this retarded
>Thinking exchanges will chose morality over profits
Everybody is benefiting from tethers subversive tactics fuckface. Even you. It's in your best interest that bitfinex keeps up the charade.
>>6773711
This

>> No.6773992

>>6773956
you called me a retarded and proceeded to back me up? t-thanks

you obviously didn't understand the point i was making. it's in their best interests (profits) to bail them out / insure that they don't fuck us over. if they don't, say goodbye to exchanges.

>> No.6774005

bitfinex is making hundreds of millions of dollars a year in fees and receiving hundreds of millions of dollars in deposits in order to convert it to tether.

the nocoiners who actually think tether is somehow "solvent" haven't even botheed taking a quick look at the insane numbers that are being pushed around every day.

>> No.6774015

>>6774005
"insolvent"

>> No.6774020

https://twitter.com/Bitfinexed/status/954962499312418816

>> No.6774050

>>6773711
Bitfinex earns more than that in months alone in fees. But bitfinexed said it Mist be a scam. And pays pajeet for the FUD campaign.

What's the agenda? Could it be that He he sold BTC too early and got fucked months ago? Nobody is a Robin Hood in this world.

>> No.6774056

>>6774005
insolvent*

the problem in that case isn't that tether is insolvent. the problem is that it's being deliberately used to prop up the market, and the rate of printing is faster than the rate of bitfinex will be able to pay for it long term.

>> No.6774072

>>6774020
Obviously uses bitfinexed as his source. How much do you get paid? Per post? Per reply?

>> No.6774103

>>6774005
bitfinex printed 300million of tether in one day, used it to push bitcoin back to 13000

>> No.6774108

>>6774056
tether isn't "propping up the market", its the people who are buying tether to buy the dips. tether intruduces new coins when they receive new deposits. if you think they're doing anything else thats going into chemtrail talk, and you have exactly the same amount of evidence those guys do

>> No.6774119

>>6774072
bitfinexed was also the guy that sold all his btc at the start of the year, and missed out on this huge rally. really makes you think.

>> No.6774142

>>6774103
go understand how tether works, instead of talking about things you don't understand. conspiracies seem a lot more ridiculous when you're not coming at them from a place of ignorance.

>> No.6774144

>>6774072
fuck bitfinexed for a second. do you have any proof that tether is solvent? are you arguing that you don't need proof because you trust the exchanges and the 'people in charge'?

>> No.6774178

>>6774144
Wait for the friedman llp auditing result in the next months. Everything else wont satisfy you pajeet brain.

>> No.6774260

>>6773258
It's not Tether you should be worried about.

It's the US FUCKING DOLLAR!

>> No.6774326

>>6774178
i plan to.

>>6774108
great point. the evidence that bitfinex is wash-trading is not conclusive, and i don't take it as fact. however, i would point out that bitfinex is a gatekeeper in this regard, and giving them so much power over liquidity is dangerous.

>> No.6774329
File: 89 KB, 528x587, a755e49c0854918aaa50468cf3fcb615--walter-sobchak-the-big-lebowski.jpg [View same] [iqdb] [saucenao] [google]
6774329

>>6773992
>Still being retarded
I'm not backing you up. Bailing them out proves their fraudulence

>> No.6774352

Their total assets are $2 billion.
https://wallet.tether.to/transparency

This is actually quite reasonable for a token this widely used. They definitely got the reserves, you faggots are scared over nothing.

>> No.6774417

>>6774326
wash trading or not, just compare volumes to other exchanges if you dont trust bitfines. there are hundreds of millions being made from fees alone. if bitfinex wanted to make fake money, they would just change a few numbers on one of their accounts, and buy up some usdt or btc with imaginary dollars.

to think they would go through the effort to print tether (you think these huge institutional buyers don't already have access to audits?) on a public blockchain that will very quickly be found out as fraudulent is asinine.

>> No.6774477

>>6774329
i'm not disputing that. i imagine what's happening is that bitfinex is selling them IOUs, and pays back as needed. in this case, if bitfinex bailed them out, it would just be paying off debt. still fraudulent, but somewhat acceptable (if bitfinex can afford it). if bitfinex needs help from other exchanges, it's a fucked up mess, but still resolvable.

>> No.6774509

>>6774352
and you're naive enough to take their word for it. that's the problem. if they don't take advantage of the market like this, someone else will.

>> No.6774534
File: 85 KB, 1065x607, screenshot-wallet.tether.to-2018-01-21-10-57-16.png [View same] [iqdb] [saucenao] [google]
6774534

>>6774352
>they definitely got the reserves
doubt.jpg

>> No.6774584

https://omniexplorer.info/lookupadd.aspx?address=1KYiKJEfdJtap9QX2v9BXJMpz2SfU4pgZw&page=1

get your fucking longs ready

100mil transfered, time for bitcoin to moon.

>> No.6774665

>Beginning on January 1, 2018, Tether Tokens will no longer be issued to U.S. Persons.
https://tether.to/legal/

why is that?

>> No.6774803

>>6774417
what huge institutional buyers, other than bitfinex?
bitfinex makes hundreds of millions how often? have you seen their balance sheets produced by a third party? do you actually know how much money they're making?

and no, they couldn't send imaginary dollars to tether. their money is stored in a bank, which (hopefully) sends money to tether's bank. they cannot cook their books and pay tether with imaginary money. that's retarded. they could do it with btc possibly, but someone within the company's accounting department would notice. tether on the other hand, is a very small company. they receive money, and in return generate IOUs (tethers), and doesn't go under the same scrutiny or regulation as an exchange. only a handful of people are actually involved in this process and know whether the IOUs can be paid back.

>> No.6774836

>>6774665
probably because the U.S. gov doesn't care for someone issuing a currency that is supposedly backed by USD without any proper authority or oversight.

>> No.6774995

>>6774665
Because they don't let them audit by the IRS jews