They keep printing more of this shit to desperately keep the total market cap above 100 billion.
The more fake money they pump into the system to keep it afloat, the less liquidity there is, which means if you are tethered up and want to withdraw, you will not have the liquidity to do so. Your money will be trapped. Thanks Tether, you are literally creating crypto's own version of Black Swan.
Bitfinex'ed is a douchebag, but he's right. This is so fucked.
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I should say to clarify, because it might not be clear to everyone: there's less liquidity in the market the more USDT that gets pumped into it because it means there's LESS REAL MONEY in the system. In other words, you can't withdraw to your bank account with USDT.
STFU fag I'm bullish on Tether. Earlier this year is was top 20 and now it's top 4. We're going straight to #1 baby!
>We're going straight to #1 baby!
What amazes me is that the same trick works over and over again. No matter how many times they keep pumping more Tether in, real idiots will keep thinking it's the bottom and put their money back in.
>What amazes me is that the same trick works over and over again
until it doesnt
who tf has ever tried to redeem their tether for use? People just send to coinbase or kraken and cash out their btc
How good or bad would be if Tether crashed and every Tether holder got stuck with it, unable to exchange?
We'd have dropped under 100 billion more than 24 hours ago if the trick stopped working. But it's like I said, the more fake money they pump into the system, the more inflation, and the less real money retail investors can pull out of it.
It would be good in the sense that the Ponzi might finally be over, but bad if you care about idiots. I feel bad for the people who are too dumb to realize the situation they're in, but... the backlash that is going to happen when large numbers of people find out their money is lost can be immense
en.wikipedia.org
I don't think people are going to get out their guns or pitchforks, but there will probably be renewed calls to outlaw crypto, and some of it may succeed, particularly in Europe
1)that's why you tether on tusd
2)and when the scam goes bust
3)tusd explodes in price
kekius maximus
That's a smart strategy, but very high risk, because who knows when you would have the liquidity to cash out. This is the risk you run by keeping your funds in the game during a liquidity crisis. When everyone else is scrambling to get their money out, your golden parachute might not deploy and your portfolio will plummet to its death at the bottom of a recycling bin, for your gains will forever remain 'paper' gains.
The amount of REEEEing we are going to see in the near future is unlike anything we have seen before
I thought you killed yourself bitfinexed. You should get on that sometime.
Hello again, ready for Round #2? I'm not him and I'm glad, he is one ugly motherfucker.
Tether will most likely collapse one day.
It exist for exact 4 years now. So many people say it will collapse any day, but nothing happened. Its just in Tethers and BTC nature that it wont dissepear. As long the btc chain stays immutable(tehter runs on it) nothing will happen. Tether and all the exchanges will washtrade to its 1 dollar peg again
>keep printing
hello grandpa
they are burning it nowadays actually
not like it makes them less of a scam though
but you are half a year late with your revelations
bitfinexed is a paid reverse shill, follow @soleil_dusoir9 instead
>they are burning it nowadays actually
If by burning it you mean infusing a steady supply of it into the market on pretty much an hourly basis for the last 48 hours to keep crypto above 100 billion, then absolutely, you are right and a very smart person
>bitfinexed is a paid reverse shill
lol
>can't even google shit
sorry for trying to educate you mong
The pre dator to the vending machine, Yuji Ijiri has always had that one important idea in his mind throughout his inception into our world by the fundamental gods. It was that particular idea that was going to reshape the landscape of the way people come to a consensus on a public settlement layer with no drama needed, only cold, hard mathematical truth. Nick Szabo, the genius who could not code but was brilliant in the respect of conceptualizing mind-boggling thoughts which would cripple a mere mortal in a matter of an eyeblink, contacted Ian Grigg, the C++ mastermind via quantum entangled brainwave functions. The birth of Bit Coin was the phase shift that would be the system change and allow the humanity to evolve beyond their fore-fathers and -mothers from the stone age until the early 2000s. The cyber-utopia opened up the gateway into other dimensions, realities, planes of existence and computer gods who's thoughts would be so foreign to our own, that merely one attempt to understand them would create and destroy whole universes.
>Nick Szabo, the genius who could not code
>could not code
[citation_needed]
So what fractional reserve banking is doing the same, printing USD with nothing to back it up. At least Tether has Bitcoin, the digital gold linked to it.
I just did this lel. Got burnt with SV so i tethered up and now that link is at 0.20 i placed a buy order thinking thats the damn bottom
It blows my mind people have faith in something that has been proven to be a scam several times. The fact that Bitfinex tried to pretend they weren't involved and that it only got out through the fucking Panama papers should have sent this to $0. Crypto is full of the dumbest fuckers in existence.
Interesting approach. Not bad, 7/10.
You mean you placed a buy order when you saw big buys happening on Bitfinex, which made you think it was the bottom? I'm not sure I understand you correctly, or if you understood what I said correctly, kek
I think the Greater Fool theory is a big part of it. Not everyone still in crypto is dumb, but they might be gambling on something very risky
Top kek
Fractional reserve banking has the long suffering tax payer to back it up under the laws designed to protect the scam system, unfortunately.