Anons, this is not a joke. Due to several variables, the perfect storm is brewing for crypto. The biggest variable being the ponzi scheme known as Tether being found out. Pic related and more info to come.
Tether prints 9 million Tethers an hour, and buy more BTC with their own Tether they just made. Many large exchanges use and hold Tether. Which is very dangerous right now because Bitfinex admits Tether is only .74 backed. So when you or the exchanges trade in their 1 Bitcoin for its worth in Tether, they're really only getting .74 of that Bitcoin when accounting for it's backing. This leaves me wondering what Bitfinex is doing with the other .26 of your Bitcoin if they're not using 100% of your coin to back their currency.
Tether shills in bound? How can printing your own money to admittedly buy more of the currency that supposedly "backs" your printed currency be justified by anyone who has an IQ above 95?
An user shared this information in another thread (, , ), but I'm reposting it so that everyone on Jow Forums can see the argument for their own consideration.
If you (You) listen to these hacks you’ll get rekt, they’re blatant newfags who have done zero research into the USDT ponzi. has zero reading comprehension and no idea how tether works, no you’re not trading 1 bitcoin for 1 bitcoin, you’re trading 1 bitcoin for .74 bitcoins, and the entire bitcoin price is only because of one thing, tether being created out of nothing buying BTC Heres how it works in a nutshell its pretty ingenious actually, kudos to bitfinex but they’ll make building jumpers out of the lot of you when you lose everything and this shit comes crashing down (as every ponzi does) >bitfinex “creates” tether out of nothing, literally a keystroke >tether bots buy up BTC >BTC price goes up >bots slowly put the brakes buys >bot buys completely stop/stay at 1% power >btc price stops climbing because the tether buys have stopped >tether sells the new pump top >btc market price drops >rinse and repeat Also, be aware bitfinex employs paid shills to stop tether fud, and anyone telling you tether fud is nothing is a newfag or actual paid shill Pic related, its not a coincidence
You are probably right, but nobody gives a shit and you will get as much attention as some homeless guy yelling about the end of the world. People don't care if it's backed by nothing just like they don't care the USD is backed by nothing
Jack Campbell
Give it up cuckoo tethered We're going back to 20k and there's nothing you can do about it
I hear you. But because Binance is one of the largest holders of Tether, and now they're having to ban US users because of the new policy on alt coins, I figured that it looks more risky to invest now than it did before. You're right about US currency though. Although you can't really compare the two, because Tether isn't what's funding an army of Mutts and isn't currently being used as currency to finance international wars for said country here ().
It may go up that high. And good for other anons who are staying in the market if it does, just don't buy ATH, anons.
When you put your money in the bank, it only holds like 1/30th of that and invests the rest for its own gain. Welcome to reality, they arent even 2x leveraging it, banks 30x before they rehypothecate it into like 200x.
Grayson Ward
It's hard to argue with this. I guess just view what I posted as something to consider at the very least.
Evan Peterson
Its why banks in Cyprus shut down that one time when everyone went to pull their money out at once, they dont actually have your money. Traditional financial systems are set up like a house of cards, its called a bank run. Itd be a tether run if tether suddenly couldnt back up all of their coins, not sure how that would work considering no one actually has a physical tether to run on them.. and they can just print more. That 26% in bitcoin likely allows them to buy back their own coins pumping the price up, so they would sell at 1.01 and buy at 0.99, profiting in the process by a few percent each swing.
Isaac Bailey
they are pumping my bags, so who cares.
based tether scammers are going to make me rich
the ponzi cant collapse because they can unironically print money to infinity (thether) without affecting the actual value of the money it is "backed by" (USD)
they are actual fucking geniuses.
Parker Hill
Tether is gonna print UDST until the government kicks the door down and seizes their entire operation. One day tether will exist and the next day it won't. You won't know when it's going to happen
Eli Brooks
Exchanges have known this shit forever. They will switch to TrueUSD when tether dies
Henry Turner
This is nothing compared to what Jews do to fiat you moron
Oliver Ross
>This leaves me wondering what Bitfinex is doing with the other .26 of your Bitcoin if they're not using 100% of your coin to back their currency. This is kind of silly to call it .26 of your Bitcoin when the USDT it was bought with was backed by .74 kek you still technically have a full bitcoin and a full tether, it's not like Bitfinex is keeping a small slice.
Also it's not backed 1:1 because some bank is holding the USD and not giving it back, so Bitfinex isn't doing shit with anything.
>Itd be a tether run if tether suddenly couldnt back up all of their coins, not sure how that would work considering no one actually has a physical tether to run on them It would only harm the USDT/USD trading pair (which only kraken has afaik) since it would mean there's not enough USD buying USDT for people/exchanges to cashout.
Joshua Rivera
>It would only harm the USDT/USD trading pair (which only kraken has afaik) since it would mean there's not enough USD buying USDT for people/exchanges to cashout
Except it doesn’t matter moron, especially when those Jews control the system and want this ponzi to collapse
Parker Wilson
this.
Blake Myers
They are losing control
Justin Martinez
Actually looked it up, it also has a pair for USDC and PAX on bitmax which are still holding 1:1 There will only be a run on USDT if these pairings start faltering (or if those stable coins turned out to not be backed 1:1).
These pairings prevent Tether from printing hundreds of millions completely unbacked because they wouldn't be able to maintain a 1:1 ratio if they flooded the market with USDT.
