/biz/ - Business & Finance

[Anonymous No.7121533]

http://www.tetherreport.com/

>48.8% of BTC’s price rise in the period following the arrival of 91 different Tether grants
>the author believes a 30-80% reduction in BTC price could be forecast.

this is going to end badly

[Anonymous No.7121600]

>>7121533
can someone explain this shit ? I dont get why it should affect BTC.

[Anonymous No.7121621]

>>7121600
BTC is almost entirely traded against USDT. Very few exchanges trade BTC against fiat. This is all covered in the report.

[Anonymous No.7121673]

>>7121533
99% of the times btc went up were preceded by an influx of dollars to coinbase.
BULLSHIT

[Anonymous No.7121684]

>>7121600

tether is made predicated upon the fact that it's supposed to be a 1:1 ratio to btc. if they have 2.2 billion tether coins and only have 1 billion in reserve, that means that the tether coins are truly worth $0.45, greatly affecting the market cap (coin circulation x price).

tl;dr they're lying about the 1:1 ratio and many btc were illegitimately bought/traded under this false pretense

[Anonymous No.7121693]

>>7121600
the allegation is that bitfinex is pumping the price of BTC by buying it with tether that it creates out of thin air

[Anonymous No.7121713]

>>7121533
So many flaws in this lazy report. Of course it's gonna go up tether is almost always printed after a dip to provide liquidity.

Note that I don't believe that every USDT is backed by USD. I do think that the tether pumping bitcoin conspiracy is bullshit.

[Anonymous No.7121719]

>whale sends 100,000-3,000,000 USD to exchange
>exchange gives wale equivalent amount of USDT
>whale trades USDT for bitcorn
>multiply by hundreds and thousands of whales
do you get it yet OP you fucking idiot. how fucking hard is it to understand this

[Anonymous No.7121732]

>>7121684

*1:1 ratio to the usd

[Anonymous No.7121774]

>>7121719
why aren't they doing an audit then you fucking brainlet?

[Anonymous No.7121777]

>>7121533
rekt

[Anonymous No.7121779]

>hundreds / thousands of whales
goddamnit I had to correct myself for clarity

[Anonymous No.7121823]

>>7121774
who gives a fuck? people with actual money transfer it directly to exchanges and are credited with fucking USDT. bittrex minimum is 100k wire transfer. brainlet

[Anonymous No.7121825]

>>7121779
>claims thousands of investors buying $3M at a time

[Anonymous No.7121880]

>>7121825
thousands buying at least 100k at a time. learn to read you fucking mongloid. how many liters of drool do you produce per day?

[Anonymous No.7121885]

>Own *Magic Printer*
>Print magic USDT tokens
>Buy Bitcoin with USDT tokens
>Idiots sell their Bitcoin for USDT tokens on the premise that USDT are a "stable coin" that will always be valued & exchangeable at 1 USD because they backed by 1:1 USD reserves
>Why?
>They trust Tether
>Dumb fucks
>Owner of *Magic Printer* can now sell bought Bitcoins for real USD
>Print more magic USDT tokens
>Buy more Bitcoins for more magic USDT tokens at higher bidded USDT prices
>Pump the price of Bitcoins (and in turn all crypto) because normies think USDT is a stable coin that will always be worth 1 USD because 1:1 USDT:USD reserves
>Dump more Bitcoins for real USD at inflated prices
>Pocket
>Repeat times x2.25 billlion
>x1.5 billion after the SEC subpoenas you on Dec 6th and you scramble for the exits before the market can

[Anonymous No.7121894]

>>7121823
yeah way to dodge the question brainlet, just like how tether/bitfinex is dodging audits. in fact i wouldn't be surprised if you're a tether/bitfinex shill

[Anonymous No.7121960]

SEC CLOSING IN
PROP THE MARKET WITH MONOPOLY MONEY AND EXIT DUMP FOR FIAT

[Anonymous No.7121974]

>>7121880
100k isn’t a whale. How fucking retarded are you? Your IQ must fucking be below seventy, you inbred moronic piece of shit.

[Anonymous No.7121999]

Wire Transfer Details

Wire transfers are processed starting at 4PM PST after all incoming wires have cleared for the day.
Wires are processed using $1 for 1 USDT (Tether). Bittrex cannot make a time based purchase on your behalf. All funds are converted to the coin of your choice, which is then deposited to your account.
Once we credit your account, you will receive a response in your ticket with the details.
If it has been more than 5 days since you sent your wire and you have not received this response, there may have been issues with your transaction. See the troubleshooting guidance below.
Please do not ask about your wire until 4PM PST the day after your wire was transfer was completed or three days for international wires.

Wire Transfer Requirements

You must Submit a Request using the Purchase USDT via Wire Transfer form
Your account must be Enhanced Verified
The name on your Enhanced Verification must be the same as the name on the Wire Transfer
For corporations, you must register as a corporate account before sending the wire. Use this form to request a corporate account:Corporate/Institutional Account
Your wire must be for an amount that is $100,000 USD or more

[Anonymous No.7122102]

>>7121974
god I'm dealing with semi-retards here aren't I. you think some jackass with 100k to invest is wiring it directly to bittrex? no you fuckwit, he's going to coinbase and by the time he figures his shit out he's spent a month feeding his 100k into the market. YOu think whales only move money in units of $1,000,000? are you fucking stupid?

[Anonymous No.7122122]

>>7121684
> if they have 2.2 billion tether coins and only have 1 billion in reserve, that means that the tether coins are truly worth $0.45
This is not necessary, they don't need the price to be exactly reflected with what they have on reserve. It is true the castle gets absolutely rekt if everyone planned to convert their tethers at the same time, but they could (in theory) be using their reserves to increase their capital.

[Anonymous No.7122254]

>>7122102
Lol, u so mad. Must be hard being a brainlet.

[Anonymous No.7122290]

https://www.youtube.com/watch?v=rY0WxgSXdEE

THREAD THEME

[Anonymous No.7122329]

>>7122122
They could, but the white paper states it’s a 1:1 reserve.

[Anonymous No.7122361]

>>7122329
scam
skam/Submit
nouninformal
1.
a dishonest scheme; a fraud.

[Anonymous No.7122533]

Does anyone seriously think Tether has 1:1 reserves? It's priced in. No different than fractional reserve banking.

[Anonymous No.7122648]

>>7122533
First, the shills said the reports were fake.
Now the shills are saying not having full reserves is no problem and everyone already knew it.

Get fucked - the white paper says 1:1. If they’re just printing tether in fractional reserve, that inflates all crypto prices. That’s the whole point of the tether report. Every crypto is overvalued by at least a factor of 2x right now.

[Anonymous No.7122649]

>>7121621
gee u wonder how Coinbase cleared $1 billion from commissions and fees during 2017

i also wonder what the exponential growth in accounts did during that time. did they just download the app for shits and gigs?

can you prove that USDT is solely behind the price appreciation? proof asshole. all you have is Bitfinex'd sponsored FUD

[Anonymous No.7122686]

>>7121693

they sell tether to exchanges you mong!

[Anonymous No.7122701]

>>7122649
The proof is literally the link in OP, you fucking retard.

[Anonymous No.7122715]

>>7122122
It's still a scam even if it works.

[Anonymous No.7122751]

>>7122701
Theres no proof in the op link
At all. Not a single fucking shred.

[Anonymous No.7122782]

>>7122648
That's why it's dipping. It's priced in. Everything is priced in.

[Anonymous No.7122790]

>>7122751
There is no proof that tether is 1:1 either, not a single fucking shred.

[Anonymous No.7122802]

>>7122751
Ok, you’re now confirmed for a shill.

For all other anons, ignore this idiot. Read the link. There’s proof that they are committing massive fraud by printing unbacked tether, which artificially inflated the market.

[Anonymous No.7122839]

>>7122802
Huur read the website I posted it's undeniable proof because I'm a Brainlet who believes anything said on the Internet

http://www.coinfox.info/news/8756-research-finds-no-evidence-of-traders-manipulation-in-the-bitcoin-market

[Anonymous No.7122876]

Question is, if tether causes bitcoin to drop like fuckin rock, will it recover and how long would it take.

[Anonymous No.7122881]

>>7122790
as long as people think it's 1:1 - everything is OK, right?

[Anonymous No.7122889]

>>7122876
it recovered after mtgox. it will recover again

[Anonymous No.7122897]

>>7122102
Why are you trying to rationalize with these faggots, they are probably sitting in some discord spreading this shit to FUD the market because they're butthurt. Like that bitfinexed faggot.

[Anonymous No.7122899]

>>7122329
Well, fuck, I'm retarded and you're right.

[Anonymous No.7122901]

>>7122790
Doesn't matter. No one exchanges tether for fiat and unless everyone holding tether tried to do a bank run at the same time... it's fine

>bbbut it needs to be backed by $1 to be valued at $1
Supply and demand. Leave if you can't understand something so simple. Kthnx

[Anonymous No.7122923]

>>7122876
yes, it will recover. It will take about 2-3 days tops - if coinbase doesn't completely shit the bed

[Anonymous No.7123019]

What if all of 2018 is priced in already?

[Anonymous No.7123044]

>>7122839
>4 incidents of malware detected

You’re a piece of shit. Take your pajeet scams somewhere else.

[Anonymous No.7123072]

>>7122901
Except they explicitly claim that it is in fact reserved 1:1.

They also claim that they are audited 24/7.

Claimed to be based in HK.

[Anonymous No.7123199]

>>7123044
The state of fudders, something is posted they disagree with and scream malware and shit...
Kys you subhuman cunt

[Anonymous No.7123254]

>>7122802
>There’s proof that they are committing massive fraud by printing unbacked tether, which artificially inflated the market.
There's literally no proof at all in the link, just conjecture

[Anonymous No.7123735]

>>7123199
IT'S OVER. BITCOIN IS FINISHED

[Anonymous No.7123807]

>>7123254
>>7123199
How much tether do they pay you to whiteknight over here on /biz/?

[Anonymous No.7123849]

>institutional investors sending 2,2 billion USD to a shady company with no constant audits in exchange for funny money.

Yeah, sounds about right.

[Anonymous No.7123858]

>>7123807
How much fiat does bitfinexd pay you to do his dirty work? Or has he already run out after selling all his btc at 1k and shorting it at 1.5k?

[Anonymous No.7123875]

>>7123254
TETHER WILL REPLACE THE US DOLLAR AS THE WORLD RESERVE CURRENCY

[Anonymous No.7123934]

Same old FUD, nothing new.

[Anonymous No.7123970]

>>7123934
Then why did they start burning tether today?

They got busted, and they’re desperately trying to cover it up.

[Anonymous No.7124033]

>>7123970
Same reason they print it
To keep it pegged to $1 you dumb cunt
Please learn how supply and demand works before you continue to post on this business and finance board kthnx

[Anonymous No.7124048]

Tether FUDers never give a motive for Bitfinex to "print" tethers. Bitfinex makes a lot of money. Regardless of whether crypto goes up or down, but they instead prefer high volume of trading to make money. Pumping bitcoin gets them zero additional money. But crashing crypto would of course be devastating for their income. So why the fuck would they motivated to print tether to pump bitcoin? Bitfinex makes many times the amount of money needed to fully back tether themselves. An exit scam on tether would be throwing out an extremely lucrative business to make a few pennies, relatively.

Once the audits comes out and show that tether does indeed have full backing, like they did a few months ago, we will moon hard. I am almost thankful for the FUD because its creates a great buying opportunity.

[Anonymous No.7124093]

>>7124033
You keep fundamentally misunderstanding tether. It’s not pegged to the dollar by floating the exchange. It’s claimed to be backed by a 1:1 reserve of US dollars. You’re just lying about how its supposed to function. Or in other words, you’re shilling.

[Anonymous No.7124149]

>>7121600
Shills are really, really pushing that debunked fud so you sell low like a retard. Be their guest, by all means.

[Anonymous No.7124219]

>>7124093
Holy fuck you are actually this retarded...
Please answer me this question. In the market, what is tether actually used for? Do people actually convert tether to fiat? Or do people trade it against crypto with a market dictates price of $1 per token

They could say we have zero backing
It wouldn't matter as long as the market, dictated by supply and demand, continues to trade it as worth $1

Please go back to middle school economy 101 kthnx

[Anonymous No.7124244]

>>7124048
Hello bitfinex's employee of the month.

By the way, lol no, those audits will never happen.

[Anonymous No.7124252]

>>7124219
stfu faggot. bitcoin is dead. i bet you are in selling everything in the other tab

[Anonymous No.7124266]

now that more people are cashing out, expect more fud to come out. The tether scare should already be priced in but now that more people are on the sidelines waiting to get back in, the last thing they want is for crypto to go back up,

[Anonymous No.7124284]

>>7124219
Maybe you should do some reading behind 101.

In the white paper, it is claimed that it has a 1:1 reserve if US dollars. Equivalent to the gold standard the US used to operate on. Back in those days, the government would burn US dollars when demand for Gold when up or down, you fucking cretin.

[Anonymous No.7124285]

>>7124149
You're a retard if you think shills are causing this. These tether niggers can literally create $$$ to buy Btc and increase it's value. How stupid are you to think this is created fud?

[Anonymous No.7124306]

>>7124048
they print tether, retards exchange them for btc, and the company sells BTC for real cash

not that hard to figure out

[Anonymous No.7124382]

>>7124306
this basically
this basically
this basically

[Anonymous No.7124401]

>>7124285
Fuck off to reddit, retard. Among the braindead you'll find yourself in good company.

[Anonymous No.7124415]

>>7124285
what you're implying is they print tether,
buy BTC with said tether and then sell BTC for fiat
doesn't that mean they have fiat then?

[Anonymous No.7124423]

>>7124284
You still don't understand supply and demand
You don't understand how tether is actually pegged to $1
You are stuck on one point and one point only because that's the only thing you have to fud with
Youre a joke kid

I'll ask you again, what does it matter if there isn't exactly 1:1 backing? Do you know anyone that has or has tried to exchange tether for fiat? Because literally no one does.

[Anonymous No.7124431]

btc dropping, better tether u-

oh

[Anonymous No.7124458]

>>7124415
also
if they print tether doesn't that mean they need to do so in order to maintain the 1:1 peg. because if demand goes up but supply remains fixed then USDT will trade at a premium

[Anonymous No.7124460]

>>7124415
That means they’re essentially backing tether with tether. I’ll let you ponder that for a while to consider why that’s bad.

[Anonymous No.7124475]

>>7124460
so if they sell BTC for fiat they'd be backing tether with tether
wow
you just went full retard
never
go
full
retard

[Anonymous No.7124486]

>>7124423
It matters because that’s the stated value of tether. Read the white paper.

Interesting that the shills have shifted from “they totally have the reserves” to “they don’t have the reserves, but that’s no big deal”

[Anonymous No.7124519]

>>7124475
The tether they initially sold would still be circulating, simpleton. You can’t even do simple addition.

[Anonymous No.7124522]

>>7124486
I'm done here. You've proven yourself to be either completely ignorant or just a straight up fudding faggot.
I hope that 1k buy order finally fills, it's only been a year since you sold

[Anonymous No.7124545]

>>7124219
Really! I don't know how this tether narrative got so far from reality, and how so many people seem to believe in this alternate universe where the tether tokens are supposed to be some kind of immutable eternal constant, and if they vary from that in any way then it's automatically a scam? What? Unsubstantiated, unproven paranoid suspicions. That's all this amounts to.

[Anonymous No.7124568]

>>7124522
>waaah, I lost the argument so I’m leaving

*tips fedora*
Heh, better luck next time, kid.

[Anonymous No.7124624]

>>7124568
I understand supply and demand
So I won

Gg no re im actually leaving now

[Anonymous No.7124648]

>>7124624
you lost

[Anonymous No.7124665]

>>7123807
There's no point in discussion anything with you since you don't understand the difference between proof and conjecture.

[Anonymous No.7124667]

Tether is almost guaranteed to crash. A lot of brainlets defending it in this thread will be eating crows.

[Anonymous No.7124673]

>>7124423
this is what i don't understand though
don't tethers get printed by actually buying it for USD? (check their white paper)
if people keep trading into tether, won't tether price rise if no one buy tether from USD?
so what you're saying is, tether is making tether tokens to keep 1:1 price right?

[Anonymous No.7124697]

>>7124667
>Tether is almost guaranteed to crash
Prove it.

[Anonymous No.7124726]

>>7124673
>don't tethers get printed by actually buying it for USD?
Yes. Exchanges could be wiring them deposits in exchange for tether, but FUDDers are too simple to consider that.

[Anonymous No.7124775]

>>7124673
Per their own white paper, they do not control the value of tether by manipulating supply. They set value by ensuring that it’s also redeemable for $1. If it’s trading higher or lower, that’s a market inefficiency. And, it’s inportant to note, an inefficiency that tether for some reason is never confident enough to capitalize on. Why cash out tether for $1 if you can buy it on the open market for 98¢. That’s a free 2%, but tether never takes it.

[Anonymous No.7124808]

>>7124775
When you can magically print 200 million tendie tokens out of thin air my guess is you aren't too worried about it

[Anonymous No.7124818]

>>7121533
Tether theorists are turning into flat earthers at this point.

Suspicious of Tether and Bitfinex? Fine, but they keep hoping and praying for a crash. If you investigate any of the main pushers of Tether drama, you see theyre all bitcoin haters, posters on /buttcoin/ or are nocoiners praying for crypto to crash.

[Anonymous No.7124841]

>>7124697
Prove it won't? That's right. You can't because there's zero audit.

[Anonymous No.7124859]

>>7124818
Also, I noticed an overlap between tether cucks and deluded cashies.

Cashies want the entire market to crash in the longshot hope that their coin is the only one left standing.

[Anonymous No.7124891]

>>7124841
So you ADMIT that the tether fud is just pure conjecture and you don't have any proof of your statements?

[Anonymous No.7124893]

>>7124818
The entire tether fud started with a red headed JEW who sold everything at 1k and begged bitfinex for a refund when his called top was blown the fuck out
This is all anyone needs to know to determine whether the fud is legit or not

[Anonymous No.7124920]

>>7121533
We've already had a 50% reduction, nobody died, the worlds still spinning. Anyone who thinks tether fud is still relevant is a cuck

[Anonymous No.7124954]

>>7124522
you're an absolute fucking literally retarded brainlet and the fact that retards like you are the defenders of tether is very worrysome

[Anonymous No.7124966]

>>7124891
Can you prove that tether is backed by anything in their vault?

[Anonymous No.7124978]

>>7124966
You're admitting you're just fudding with 0 proof now, right?

[Anonymous No.7124984]

>>7122649
>clear 1b
>only 2.2b in tether they probably have the money
If anyone honestly thinks Bitfinex funneled literally all their profits into some Tether account you are on fucking drugs.

[Anonymous No.7125004]

>>7124519
it doesnt matter if btc rises in price before they sell it, which it has

[Anonymous No.7125005]

>>7121533
I actually agree with you.
Charlie Lee said that in the event of tether falling to zero then BTC and the alts shouldn't be affected to much etc etc...
But I don't think this is the case. I think there's gonna be mass panic sell (not saying this is the end of crypto btw, just that this can't be underestimated)

[Anonymous No.7125021]

>>7124978
>You're admitting you're just fudding with 0 proof now, right?
Where's your proof tether is genuine, sir?

[Anonymous No.7125022]

>>7124984
You know Bitfinex isn't the only company that can make tether deposits, right?

[Anonymous No.7125041]

>>7124984
You know other exchanges buy tether right? Or are you dumb enough to actually fucking think that bitfinex accounts for 100% of all usdt volume?

[Anonymous No.7125050]

>>7125021
The fact that you keep deflecting back on me when I asked for proof first is evidence you don't have any real evidence

[Anonymous No.7125065]

>>7125021
Absence of evidence is not the evidence of absence
I bet you support fake rape accusations as well

[Anonymous No.7125083]

Is this essentially the crypto equivalent of a crash triggered by everyone trading on margin? I don't want to read the report

[Anonymous No.7125113]

>>7125050
You're deflecting actually. It's like claiming unicorns are real and asking me to prove they don't. Where's the money backing tether, hmmm?

[Anonymous No.7125127]

>>7125113
So you admit you don't have any proof of your statements?

[Anonymous No.7125151]

>>7125113
You made the claim
Anon asked for proof
It relies on you
Internet arguing 101

[Anonymous No.7125154]

>>7125127
So you admit you don't have any proof of tether being backed by anything?

[Anonymous No.7125155]

>>7125022
>>7125041
How the fuck does that change the fact that Bitfinex would have had to funnel every cent they made in profit into some unknown account to back it?
>but exchanges buy it!
so fucking what?
>>7124978
fuck off. go shill BCC or BZC or whatever shit bags you are holding, you people said the same shit when Bitconnect got their cease and desist.
>If they haven't been proven insolvent yet, how could they ever be proved insolvent in the future?
for the sake of the rest of us, please don't breed.

[Anonymous No.7125176]

>>7125113
hey, the simple audit which would take about 5 seconds to conduct will come out any day

[Anonymous No.7125183]

>>7125154
So you admit you don't have any proof of your statements?

[Anonymous No.7125203]

>>7125050
ever hear of burden of proof? That's on the one making the claim i.e. it's on the extremely butthurt Bitfiniex'd, who was so salty about the continued rise of BTC after he sold, that he spent a year of his life trying to come up with a reason for the mooning. These accusations of tether being a scam are nothing but unproven suspicion.

[Anonymous No.7125221]

>>7125176
>audits take 5 seconds to conduct
holy shit get a long of this moron lmao

[Anonymous No.7125228]

>>7125183
So you admit unicorns are real? This is what you're saying, son. Burden of proof is on you. The person who claims existence must prove it.

[Anonymous No.7125279]

>>7125203
I love the fact that Bitfinexed actually sold his position at 1k and spent 6 months trying to get Bitfinex to reverse his trades.

Hahahaha holy shit that's pathetic

[Anonymous No.7125310]

>>7125228
>So you admit you don't have any proof of your statements?
Burden of proof is on you, you're the one who is alleging fraud on the part of a billion dollar company. With no proof.

[Anonymous No.7125357]

thanks just bought 100k

[Anonymous No.7125388]

What's the bet these fudsters are newfags from /pol/ who believe that an alien race of white humanoids live under Antarctica along with Hitler and nazi ss officers

[Anonymous No.7125391]

mods need to ban these annoying threads holy shit
NOBODY GIVES A FUCK
People will continue to trade with tether, it isnt going away, its extremely important as a median between exchanges

[Anonymous No.7125423]

>>7125388
Fuck off shitskin
>muh pol did this

its more than likely shitskins

[Anonymous No.7125452]

>>7125221
all you need is official bank holdings of tether at specific dates, maybe some inflow out flow out of accounts

literally would take 1 day if they had the documents, probably an hour

[Anonymous No.7125483]

>>7125310
Nope. Burden of proof is on you. Where's the proof that tether is genuine, boy? It's a simple question.

[Anonymous No.7125531]

>>7125483
You're the one claiming there's massive fraud with no proof. Burden of proof is on you.

[Anonymous No.7125551]

>>7125483
>tether can be exchanged for dollars on Kraken and bitfinex
>arb bots ensure there is always liquidity
welcome to the new world retard

[Anonymous No.7125562]

>>7125423
Seems like falling for the tether conspiracy and further spreading fud would be something an x or pol resident would do

[Anonymous No.7125606]

>>7122648
Tether had issued 50 million USDT when their bank accounts were closed early '17. Likely the real fiat ceiling (emphasis on "ceiling").

2.2 billion magic printed since.

[Anonymous No.7125636]

>>7125562
awesome graph bro. politics has nothing to do with this yet you bring it up. Something tells me you just hate their Ideology, so why dont you shut up?

[Anonymous No.7125642]

>>7125551
These idiots don't even understand that Bitfinex isn't the only one with Tether and that it's entirely possible that exchanges wire money to Tether to buy more.

[Anonymous No.7125674]

>>7125636
I just want to start shit posting
Dont mind me

[Anonymous No.7125762]

I kind of hope Tether gets audited and has 100% reserves just to see the @bitfinexed chimpout as BTC rises to 40k

[Anonymous No.7125814]

>>7121533
Bullshit statistics. Arguing tether is manipulation because the order of the digits in transactions doesn’t follow a certain natural order? What the fuck?

[Anonymous No.7125866]

>>7125814
Yeah I looked over that shit. It's really reaching...

[Anonymous No.7125888]

>>7125762
I would do nothing expect spam orson welles laughing and tether fudding screenshots for a day straight

[Anonymous No.7125932]

>>7125888
>tfw you will be saving rare Orsons on Sunday

[Anonymous No.7125936]

>>7125866
Not to mention there is an obvious digit order that transactions will follow: conversions for popular USD amounts (10,100,1000)

[Anonymous No.7125982]

>>7125310
Uhh, what? Shouldn't the company (which publicly stated it would subject itself to regular audits) have the burden of proof to prove its solvency? Could you imagine how dysfunctional it would be if the US had to audit every company because "the burden of proof is on the US gov't to prove to me that we're cooking the books"? Honestly, this shit is retarded, and I have no idea why it gets any support from the crypto community. Tether isn't even crypto. Crypto has a built in ledger, and the network self audits.

[Anonymous No.7126143]

>>7125982
exactly, I do not understand why people say Tether is crypto. It should be considered fiat

do people even think about this?

[Anonymous No.7126159]

>>7125391
>if I pretend the tether p&d doesn't matter it won't matter

[Anonymous No.7126168]

>>7124519
DUMBASS it get's bought back

[Anonymous No.7126286]

>>7121684
>if they have 2.2 billion tether coins and only have 1 billion in reserve
I'm so fucking tired of the "ifs".

IF exchanges are buying Tether then the dollars are there. Is there any evidence that Tether is just handing space on their blockchain to exchanges for free?

[Anonymous No.7126324]

>>7122889
didn't it take a long time to recover after mtgox?

[Anonymous No.7126360]

A lot of people are mixing up the two separate conspiracies when it comes to Tether. One that is plausible, and one that is pants on head retarded. People are using the first plausible conspiracy theory to justify why the second retarded conspiracy theory is likely true as well.

>Conspiracy theory 1:
>Tether is not backed by USD on a 1:1 ratio
>If proven to be true, Tether becomes worthless as it fails to deliver on its only function. The only effect it will have on BTC/alts is retards panic selling without realizing that it has nothing to do with conspiracy theory #2
>This conspiracy is somewhat plausible, considering Tethers unwillingness to allow an audit
>This is what Charlie and every sane person is referring to

>Conspiracy theory 2:
>Bitfinex used Tether to prop up the BTC price as a form of Tether distribution
>Rather than distribute the Tether to exchanges through ordinary means where exchanges buy Tether for USD for their reserves
>This conspiracy is pants on head retarded
>This is what Bitfinexed, people who have a short position and absolute brainlets are pushing

[Anonymous No.7126451]

>>7122715
Yes.. Pretty much like banks.

[Anonymous No.7126537]

>>7126360
>This is what Charlie and every sane person is referring to

Pic related

[Anonymous No.7126542]

>>7126360
So in th3 case of scenario 1, let's make a comparison
A chef gives you a bowl of meat, says it's duck, but it's actually dog
You eat the dog, you like it, but you don't know it's dog
You find out its dog not duck and throw it at the wall in a panic. But you enjoyed eating it and if you didn't know otherwise it wouldn't be a problem

Would you keep eating the dog or not?

[Anonymous No.7126576]

>>7124808
XD

[Anonymous No.7126603]

>>7126542
???

In the case of scenario 1, Tether becomes worthless. But because Tether was not used to prop up the price of crypto like conspiracy 2 suggests, it does not affect the price of other cryptos. Unless of course retards panic sell because they wrongfully believe scenario 1 being proven true automatically proves scenario 2 to be true as well.

[Anonymous No.7126636]

>>7126360
SO FUCKING DUMB
Two depends on one. They are not seperate. If USDT does not have 1:1 USD backing then it NECESSARILY inflates the price of Bitcoin & Crypto because faux USD are used to purchase BTC as if they were real fiat.

[Anonymous No.7126645]

>>7126537
>person with an vested interest in crypto telling everyone to hold after something catastrophic happens
like clockwork

[Anonymous No.7126672]

>>7121823
The problem is they were printing more tether then they have in USD

[Anonymous No.7126709]

>>7126636

right but the amount is miniscule, there are only like 2.4b usdt printed right? that's not even a quarter of btc's 24h volume

[Anonymous No.7126749]

>>7126709
>he doesn't know that 90% of trades are bots trading with each other
yikes

[Anonymous No.7126788]

>>7126749

fine ignoring the volume it's less than 1.5% of btc's total market cap, it's not enough to move the price significantly

[Anonymous No.7126790]

>>7121533
OP is the author and owner of this shit domain

Sage

[Anonymous No.7126805]

>>7126645
>weak handed seller praying that the market crashes

[Anonymous No.7126861]

>>7126603
If there were nothing backing tether why would people panic instead of continuing on as they have been so far?
If someone told me I was eating dog I wouldn't care because it's tasted good so far

[Anonymous No.7126913]

>>7126861

your analogy is flawed, it's more like someone telling you the dog you were eating was just a dream and you wake up hungry

[Anonymous No.7126929]

doesn't everyone want this crash to happen. Give me a couple years to accumulate good positions and another huge rally in 4 years.

I promise I won't fuck it up next time and I'll be the weak handed faggot seller for once.

[Anonymous No.7126965]

>>7126788
>he is not aware that the volume is artificially inflated by these bots trading with each other
Holy yikes you are in for a shock when the whales get out
>>7126805
Animals attack when they feel threatened

[Anonymous No.7127022]

>>7126965

$2.4b is not enough money to "keep btc afloat artifically". bot trading or not the numbers just don't add up.

[Anonymous No.7127066]

>>7126861
Because the idea of Tether being used as a USD substitute rests on the fact that it's backed on a 1:1 ratio against the USD. If it turns out that it wasn't, exchanges would be absolutely insane to keep using it as a trading pair.

Without the backing, anyone could create their own shitcoin and say that it's the new USDT.

Now, I'm not saying it's true. I'm saying that it's the only conspiracy theory that is somewhat plausible, and if proven true, shouldn't affect the cryptomarkets outside of retarded panic sellers who mistakes theory #1 being proven true as a confirmation of theory #2 also being true.

[Anonymous No.7127083]

>>7121533
ABANDON SHIP

[Anonymous No.7127121]

>>7126324
Yes because less people believed in the technology back and less people even know about bitcoin to begin with

[Anonymous No.7127149]

>>7126636
You fucking idiot.

In order for someone to own that BTC, they needed to enter the markets through fiat.

>Bob buys BTC for Fiat
>Bob registers on Binance
>Bob thinks BTC is crashing, so he sells his BTC for Tether
>Bob is now stuck with Tether, and the only way for him to get out is to repurchase BTC
>The exchange started with Tether, and the Tether was returned to the exchange when Bob decided he wanted to get back into the game

[Anonymous No.7127150]

TFW leddit retards come on 4chan to shit on Tether Senpai don't they realize there was a coin like this in 2015 that did the same thing and when it died BTC didn't rise or fall. Fucking normies

[Anonymous No.7127168]

>>7126965
See for the dump>>7121960 offloading to bag holders at tether pumped prices

[Anonymous No.7127229]

>>7124306
Then that real cash funds the printing of more tethers

[Anonymous No.7127253]

>>7127149
Except for Bitfinex and the Tether printers who enter the market by printing magic tokens

[Anonymous No.7127268]

>>7127253
See conspiracy #2 >>7126360

[Anonymous No.7127345]

>>7127149
This is what I never quite understood about the oft repeated mantra that people are inflating BTC by purchasing it with tether...

It's almost like some 13 y.o. kid read something online somewhere and it sounded reasonable to him, because he's a clueless 13 y.o. dweeb, and so he came here and repeated it over and over. And he kept saying it with assumed confidence that other, even reasonable people started to believe it too. It's like an alternate reality.

[Anonymous No.7127346]

>>7122686

chill your tits. they are simply stating the allegation, not making it.

[Anonymous No.7127394]

>>7127345
Last time I talked to some guy about that very fact, he used the CMC trading pairs for Tether as proof of how Tether was being used to artificially prop up the price of BTC.

I shit you not. That's how retarded these people are. It's absolutely fucking baffling. I'm losing all faith in humanity.

[Anonymous No.7127423]

>>7127268
No that One which necessarily implies Two. They are one and the same.

[Anonymous No.7127441]

>>7124893
And many of his cultish followers have similar stories. If BTC burned you, you obsessively wish for it to crash to sooth the agony it has on your conscious that you fucked up. Even to the point of trying to create self full filling prophecies.

The biggest threat isn't that the second largest exchange in the world doesn't have 2.2 billion dollars on hand... It's that the kicking and screaming of Tether from these nocoiners and Reddit sleuths will get so loud that regulators will deem Tether unlawful for reasons unrelated to it's solvency. But that would be good for them all the same.

[Anonymous No.7127509]

>>7122122
This.
The idea that multimillionaires casually wire millions to a shady organization like Finex for USDT is just laughable.

[Anonymous No.7127518]

>>7125452
No, you don't know what you're talking about. Large audits like this are extremely intense and take time. They are handled by teams of people working all week.

[Anonymous No.7127527]

>>7127441
What annoys me the most are how all these boomer economists who failed to see the rise of crypto are now coming out of the woodwork with their self-righteousness. "Hah, looks like it was propped up by fake money! I wasn't wrong after all."

I really do hope Tether dies, because its "central banking" ways is a tumor on the cryptomarkets. But anyone who believes crypto dies with it needs to drown themselves in a bucket of piss.

[Anonymous No.7127563]

>>7126542
Kekd

[Anonymous No.7127569]

>>7127509
Bitfinex is the exchange of institutional investors. They recently reopened new accounts, but require a deposit of 10k in fiat or crypto, to allow more room for big money and keep broke pajeets away.

[Anonymous No.7127597]

>>7121533
>48.8% of BTC’s price rise in the period following the arrival of 91 different Tether grants
literally coinflip odds

[Anonymous No.7127611]

>>7121533
What does this mean? Should I buy Bitcoin now?

[Anonymous No.7127626]

>>7127509
Bitfinex is the exchange for institutional investors though, if you didn't know. Look at there limits for example.

[Anonymous No.7127681]

I dont get, Tether printed total to date is like a few billion dollars worth? Whole crypto is nearing trillion dollar marketcap. Thats a drop in the fucking bucket. It can have overvalued every coim by a value of "2x" as some autistic fuck is saying in here.

[Anonymous No.7127691]

>>7127569
Or to bilk the gullible of even more money at once.

[Anonymous No.7127726]

>>7127681
Can't have*

[Anonymous No.7127728]

>>7127681
It's because of margin trading, if you believe these fucks.

[Anonymous No.7127786]

>>7127394
Having said this, Hiroshimoot needs to implement a fucking IQ test to enter /biz/. Maybe then we could go back to the old days where 70% of the board didn't consist of mouthbreathers with the inability to comprehend simple logic or understand 3rd grade level math.

[Anonymous No.7127895]

>>7122122
What is frictional banking reserve?

I know Tether is stating 1:1 backing and i don't even doubt that they don't have those funds...but there is literally no need to have 100% of the backings ready. Basically there will be no change that 100% of tether holders wanna cash out at the exact same time.

[Anonymous No.7127929]

>>7127394
>I'm losing all faith in humanity.
first worlders are generally stupid compared to thirdworld. the reason is because everything is on autopilot. meanwhile some african that came from a war torn area due to capitalsim and exploit must make a decision in getting into school so he can become a medical student and leave to america.

"African immigrants to the US are among the most educated groups in the United States. Some 48.9 percent of all African immigrants hold a college diploma. This is more than double the rate of native-born white Americans, and nearly four times the rate of native-born African Americans.[23] According to the 2000 Census, the rate of college diploma acquisition is highest among Egyptian Americans at 59.7 percent, followed closely by Nigerian Americans at 58.6 percent.[24][25]"
https://en.wikipedia.org/wiki/African_immigration_to_the_United_States#Educational_attainment

theres a reason why "stupid american" catches on and is a stereotype. america is educated through hollywood and not actual political correctness. whatever they see in hollywood is what they think of the world around them.

[Anonymous No.7128011]

>>7127681
wash trading on margin

Also lol at bitfinex being the exchange for institutional money. Really just LOL.

[Anonymous No.7128034]

>>7127929
Ever noticed the quality of /biz/ rises when it's night time in the US? 5 hours from now it's going to be a completely different board. All the normie Americans will go to sleep, while the tech savvy NEETs stays up all night to post quality stuff.

The board is always at its worst when it's 6PM-11PM in the US.

[Anonymous No.7128134]

>>7127681
Market cap =! actual fiat entered into market
Tether's faux fiat may represent 50% of all "fiat" entry to crypto

[Anonymous No.7128181]

>>7128011
Everyone knows institutional investors love legally dubious chink exchanges that will cut down your account by 36%, but give you interest free debt tokens in return.

[Anonymous No.7128260]

>>7127895
THE TETHER APOCALYPSE:

First crypto sellers will no longer be willing to accept USDT for their coins because they have lost confidence in the future value of the "stable coin" and its supposed 1:1 USDT:USD reserves (or they can't because Tether stop printing new USDT.)

Then the price of Bitcoin (& all crypto) in USD then collapses as sellers realise that the buyers pumping the price were using freshly printed monopoly money and not injecting real USD.

[Anonymous No.7128321]

>>7127681
Market Cap is number of stocks * price of stock currently.

If you were to pump a 100 million fairy dollars worth of bitcoin for 20k now and pump up the price to 15k. Market cap would $250 billion up over $160 billion, but not even a billion fairy dollars would have entered market.

[Anonymous No.7128359]

>>7121533
holy shit, that is some next level corruption

[Anonymous No.7128373]

>>7127611
you should wait until bitcoin corrects to $8 after tether is vaporized

[Anonymous No.7128375]

>>7123072
they dont claim to be audited, even on the tether website it states they never have been. they claim they have 1:1 thats it.

[Anonymous No.7128407]

>>7123849
>constant audits.

there never was even 1 audit in the last 2 years

[Anonymous No.7128440]

>>7128407

How does a company worth billions not get audited? Where are they based? Afghanistan or some shit?

[Anonymous No.7128498]

>>7128440
their bank holdings is separate from tether company. They recently moved everything from a polish bank to denmark. They could have easily moved it again but we wont know because they do their best to keep it a secret.

[Anonymous No.7128503]

That new "proof of funds" button on the tether site is hilarious.
It claims to be a "Transparency Update" but links to the same September Friedman memo where they are explicitly just stating Tether's representations back to them.

[Anonymous No.7128522]

>>7128503
friedman already said they never saw the funds.

[Anonymous No.7128588]

>bitfinex and tether claim they're separate companies
>panama papers show they were lying
>bitfinex director is actually a director on tether

everything about these two companies are shady as fuck

[Anonymous No.7128617]

>>7126542
You forgot the dog meat has a parasite in it that will eat you alive from the inside out regardless of whether or not you "enjoyed" it.

[Anonymous No.7128636]

>>7128588
mt gox also used fake money to pump btc. was bitfinex was around even before mt gox collapse, interesting isnt it?

[Anonymous No.7128672]

>>7128375
>ThismethodusestheBitcoinblockchain,Proofof Reserves,andotherauditmethodstoprovethatissuedtokensarefullybackedandreservedatall times.

>3) The third layer is Tether Limited, our business entity primarily responsible for:

>d) Publicly reporting Proof of Reserves and other audit results


https://tether.to/wp-content/uploads/2016/06/TetherWhitePaper.pdf

[Anonymous No.7128699]

Daily reminder that bitfinex makes 10 million in fees everyday
Daily reminder that Bitfinexed is a mentally ill retard who sold his BTC early and begged Bitfinex to give him his money back when it mooned.
Whoever believes the tether fud is autistic

[Anonymous No.7128727]

>>7128672
i wasnt referring to their pdf, i was talking about the disclaimer on their website where they said "this does not constitute an audit". It was taken down after friedman GTFO.

[Anonymous No.7128776]

>>7128699
>10 million in fees a day

so if bitcoin was lets say 1000, instead of 10,000 dollars, how much money would they make in fees?

[Anonymous No.7128810]

>Tether’s Proof of Reserves configuration is novel because it simplifies the process of proving that the total number of tethers in circulation (liabilities) are always fully backed by an equal amount of fiat currency held in reserve (assets). In our configuration, each tetherUSD in circulation represents one US dollar held in our reserves (i.e. a onetoone ratio) which means the system is fully reserved when the sum of all tethers in existence (at any point in time) is exactly equal to the balance of USD held in our reserve. Since tethers live on the Bitcoin blockchain, the provability and accounting of tethers at any given point in time is trivial. Conversely, the corresponding total amount of USD held in our reserves is proved by publishing the bank balance and undergoing periodic audits by professionals.

[Anonymous No.7128848]

>>7128776
>implying a massive bitcoin merchant isnt both buying bitcoin and hedging by shorting with futures
lmao dont make me laugh kid
Tether is fine. Mods should ban all you fags. its just a fucking coin

[Anonymous No.7128854]

>Tether is incorporated in Hong Kong
with US offices in Santa Monica, CA
and on the East Coast.

https://tether.to/contact-us/

[Anonymous No.7128863]

>>7128776
Fees depend on trading volume, not BTC's price
Tether fudders really are retarded

[Anonymous No.7128924]

>>7128854
what's the addresses for their offices then? because i can't find any

[Anonymous No.7128926]

>>7128848
>>7128863
>tether is fine
>no audits

i'll literally shutup about tether being a scam if the CTFC says its ok.

[Anonymous No.7128947]

>When you don't even make an attempt to hide the pumping.

[Anonymous No.7129002]

tethers printed in 2018 so far

>January 4 – $100,000,000 USD
>January 14 – $100,000,000 USD
>January 16 – $100,000,000 USD
>January 17 – $100,000,000 USD
>January 18 – $100,000,000 USD
>January 19 – $100,000,000 USD
>January 20 – $100,000,000 USD

yup! this is absolutely not a scam guise. investors are pouring their 401ks into bitfinex as the market clearly reflects

[Anonymous No.7129003]

>>7121774
Their auditing company quit. They keep promising audits, but they never happen.

[Anonymous No.7129071]

>>7128924
This is their actual address.
>Jayla Place; Wickhams Cay 1; Road Town; Tortola; British Virgin Islands

https://offshoreleaks.icij.org/nodes/82024464

They probably don't have anything in the US considering that they can't trade in it.

[Anonymous No.7129110]

>>7129071
>They probably don't have anything in the US considering that they can't trade in it.

Nah bro, they don't have offices in the US because they're not legit

[Anonymous No.7129186]

>>7129003
This also follows Wells Fargo and some Taiwanese banks bailing last year.

>https://www.bloomberg.com/news/articles/2017-12-05/mystery-shrouds-tether-and-its-links-to-biggest-bitcoin-exchange

They said they were going to sue, but never actually did.

[Anonymous No.7129187]

>>7129071
That's just a legal holding address of these guys:
https://www.applebyglobal.com/header/locations/bvi.aspx

[Anonymous No.7129199]

>>7128699
>10 million in fees a day
>bitfinex prints 500mm USDT in 4 days
hmmmm they must have pinched their pennies hmmm......

[Anonymous No.7129247]

so tether is the next bitconnect?

[Anonymous No.7129268]

>>7129002
dayum

[Anonymous No.7129303]

>>7129199
>What are reserves from previous profits

Just because you go out and spend what you've got with no thought for tomorrow, and end up with a 0 net worth every morning does not mean that companies do.

[Anonymous No.7129305]

>>7129247
basically. better move your coins to an exchange that doesn't use tether

[Anonymous No.7129963]

S O O N

[Anonymous No.7130890]

Thanks just poo'd 100k

[Anonymous No.7131971]

>>7129303
If you'd do the math that's 220 days of profit they've printed, plus they were not making near that much money 220 days ago. It's arguable they have never even made 2.2 billion net profit.

[Anonymous No.7132051]

>muh audits
Do any of you kids even understand how audits work?

[Anonymous No.7132188]

It doesn't matter if tether is clean or not (it fucking isn't). The feds will bring it down anyway because it's piggybacking off the american dollar. It's days are numbered