Seriously tho

just get on the right side of the trade OP and stop complaining about shit you can't control.

so go ahead and explain it ?
because, to everyone else, they just look scammers down $800 million and the NY State Att. at their necks, merrily printing magic money to buy BTC to fil the hole in their books. And this with FUCKING ZRO concern whats 'backing' Tether AT ALL, nevermind 1:1.
So go on faggot, put us all right. The floors yours

>So here's the deal, you give me real money, and I'll give you this fake money
>What if I want to convert it back to real money?
>Sorry I spent it all buying stuff kek kthxbye
ahahahahahha

Unironically going to high triple digits or low quads. Almost everyone will be caught unaware. Winter is fucking coming despite how reddit that sounds.

yeah, just ignore the Laws of physics, gravity and economics. In fact, just ignore ALL LAWS. Dude, Trust us

you don't have to use tether to benefit from its effect on the market

Do you have any guarantees that casino chips are backed?

that's not what tether is being used for. better figure it out, you're missing out if you're not longing this. i made 1.1 BTC on my long today, yesterday it was 1.9

ok then short it dude

actually yes casinos in america are regulated and i can actually convert my chips back into USD whenever i want to

tether though?

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The Vegas Gaming Commision would like a word

Opening a short st the 13.8 resistance

yes because you can't get them unless you actually give them money
they have to refund anybody asking for their money so they better have the backing

We know from the NYC district attorney that they have 75% of tether backing funds available. The other 25% was locked in another fund due to a lawsuit involving a co owner or something. So it was officially confirmed that most of it was actually backed.

they literally say in their white paper they dont guarantee backing.
also, they back with "assets" which includes tether. its backing itself, which is basically backed by nothing.

what's the right side ?
have you seen BTC chart, that's the least organic thing in crypto, just looking at ETH or LTC and you can see what real market movements are whiteout barts and other unpredictable move
for god sake BTC is the biggest volume and market cap and it look like a P&D shitcoin

those numbers are obsolete now, they printed 1 Billion USDT since

look, no need to be delusional

i'm 100% long on btc, but you have to be retarded to totally ignore the issue of tether. i hope for the sake of btc and all of crypto it doesn't implode, but any bit of common sense will tell you something's not right. there's no way even half of tether is backed by anything real.
for now we're fine, but who knows long term.

I think the figure (self-claimed) was actually 70%. Which, given they had publicly claimed it was 100% up to that point, is dubios, to say the least. Its also longer clear, what 'assets' its backed with. These are probably a pile pf shit as well. All of which, given they have been printing money like drunken sailors since, would have been the best-case worst scenario. We are way, way beyond that now

You should be nervous as fuck idiot. You don’t have nearly as much time as you think you do

Have you considered why they might be so desperate, NOW, of ALL TIMES, to start printing like mad?

The court hearing is eom. They need to show the drug cartels their money launderer Reggie owes money to that they are actually backed. But no one is buying their fake run.

This is going to implode like nothing any of us have ever seen. It’ll be like the 2011 crash

>The other 25% was locked in another fund
and that is fudge as seized by about three different countries for money laundering concerns. Not entirely unjustly, as, that is exactly what it was being used for. tldr, that MIGHT not have been entirely their fault, but, its saf money they are NEVER seeing again

imagine being this fucking retarded.
unbelievable.
go and short and post screenshot.

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You nufags are so fickle it's embarrassing. I will spoon feed you this one time and one time only, Tether has majority of it's USDT backed. The portion of USDT that is not immediately backed is backed through ACCOUNTS RECEIVABLE on outstanding loans issued by Tether. Loans which collect INTEREST and create new CAPITAL into Tether allowing them to mint more USDT as a result.

Banks operate in a similar manner, you think if a major bank had to come up with every last penny their clients hold with them right on the spot they would be able to do it? No you fucking low IQ cunts, they wouldn't because a portion of the funds deposited with them are loaned out to collect INTEREST and create new CAPITAL that flows into the Banks and the economy as a whole.

Please nufags you must go back. If you're so fucking worried about an implosion of tether then short BTC and get fucking liquidated like the rest of em.

I will on the 26th. I will short 300k usd worth. Don’t worry sweetie, I just need to let this run out however much longer it will and I will post all the $$$$$ i will make while you lose everything

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I wish there was a way to filter these threads.
Its starting to get annoying.

Delusion: the post.

They are printing now more than ever idiot. You think they made 4 hundred fucking million in interest since April? That all that money is just being funneled organically into 40 mil market buys?

This ponzi is on its last legs for real this time. If you aren’t siphoning out your btc into fiat or waiting to short I feel sorry for you

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Now now anons, we are all in the same boat here. Speaking of boats, ever seen a tsunami? Right before the big wave hits, all the water is sucked out to sea, like a low tide on crack. You can see the seabed for miles around. Then it all comes rushing back and everything is smashed to bits or drowned.

OK Reddit if you're stupid enough to believe this shit
you're comparing tether to the biggest printing money scam that is the fed, at least the fed can enforce the value of the usd finex is just a scam exchange at this point

you retards are retarded because
a) you have no idea how tether works and actually think that tether "imploding" will have an affect on btc price
b) think the nyag has the jurisdiction to fucking do anything to bitfnex and tether.

if tether goes boom boom like all you retard schizo nocoiners pray it will, the only ones getting REKT will be the retards who sold their btc (that they bought with real fiat) for made up internet usd money.

if we go with your dumbfuck bobo imaginary scenario of tether printing money out of thin air to sell for btc, who are they buying that btc off ? normies like you and me who bought it with real fiat, thats who. real fiat has entered the eco system. what happens after that has no effect on the price of btc. its the normie retard that is left holding tether that would be getting REKT should tether be worthless overnight.

tether only having 75% backing doesnt mean jackshit either. do you retards think 100% of people will cash out usdt via tether overnight ? its used by denegerate gamblers to hold the price of their bitcorn so that they can buy in when its lower. fucking nobody is cashing out via usdt all at once.

and what do you think nyag has the power to do ? 'you guys are "officially" officially banned from the state of NY now, oh and here are some fines. kek

once this hearing turns out to be a fucking NOTHING, you bobos should all collectively jonestown yourselves

Brb putting this on the blockchain so that we can all laugh at it in the future. Do you have a name or pseudonym you would like to attach to that?

so all the selling pressure currently absorbed by USDT is just going to disappear is that right

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You understand that total mcap has expanded since April as well right? It's not only from interest you fucking mongoloid. It's a combination of organic interest from people trying to front run institutional money which is already confirmed and Tether making money off of the assets they're currently holding. I no longer feel sorry for you desperate nocoiners. You are a cancer and need to be eradicated.

>comparing banks to tether
Banks are regulated and backed by the government while shit like bitfinex is not
the reason people are worried is because once exchanges like bitfinex and binance get fucked (and they will get fucked eventually) we have no clue what will happen
Sure we're all here to make money but being at the mercy of centralized exchanges is bullshit

Why the fuck would anyone want crypto to be subject to the same shit banks do especially when there's no government behind it to prop it up when shit hits the fan?

so Tether is issuing loans, and using these to back the issue of more Tether ? They wouldn't by any vhance be issuing these 'loans' to Bitfinex (ie themselves) would they ? Because, as Bitfinex had an, eh, small liquidity problem, namely the missing $800 million - TETHER STEALING THIS MONEY FROM ANOTHER COMPANY, THEN CALLING THAT 'A BACKED SECURITY' ON WHICH THEY ARE ISSUING -YET MORE- TETHER -- ITS ALL A LITTLE INCESTUOUS PROBLEMATIC THIS, DON'T YOU THINK ? They are also, as noted, way overboard from that 'backed' $800 million. Maybe, they lent themselves some more ?
>'backed' my fucking hole. robbing Peter to pay Paul

>think the nyag has the jurisdiction to fucking do anything to bitfnex and tether.
news and documents came out yesterday saying that nyag has jurisdiction over at least some bitfinex activity.
the hearing is not going to be nothing. why do you think they are printing 100m every few days?

How deep in the hole are you that you got this emotional? Ballpark figure.

its what happened last time all the retards sold bitcoin for usdt

Answer this: If tether is unbacked, why would Exchange B accept tether deposits from Exchange A...the fact that its transferable and deposit-able on all exchanges should give you an answer.

>Certainly it can't be the case that all the shady exchanges are in on this together
>This pump isn't coordinated at all!

>print money forever
>what could go wrong

1B has entered the market
but not directly trough fiat exchanges no no no they give their money to bitfinex which is already known to have money problem
yeas that make absolute sense also do it like 100M every 5 days

because they they make shit ton of btc in fees, the more btc is traded the more they make money
it's all that matter for exchange

The Tether operation is all a fraud. It's the US dollar of crypto. That in itself is a red flag. They print more Tether to buy more Bitcoin and Bitcoin pumps. This draws in FOMO. Then BFX sells the Bitcoin back to USDT. When the panic selling from that stops, they buy Bitcoin at a discount.

They're stealing your bitcoins by using fake, printed money.

It seems you both have a fundamental misunderstanding of currency: how it's generated and how it flows. You are way too deep into this delusional FUD, remove your emotions from the situation and do more research before you continue to shit post.

last time ?
btc literally collapsed last time USDT burned 1B coins back in October

Just loan yourself some ?
Then, you can print some more to repay yourself - all proper 'backed' and above board then, innit ?
>find me a flaw, t. Bitfinex/Tether Inc.

>tether definitely isn't manipulating BTC there's no causation here at all

Attached: iDjZANBC.png (1176x689, 140K)

>He thinks it's a coordinated attempt by hundreds of massive exchanges.

You my friend are beyond saving

Tether/Finex: "It's all legit."
Everybody: "Cool, now prove it."
Tether/Finex: "....fuck."

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It's not hundreds, most are just indirectly linked via arbitrage bots. It's just the few large ones with 90% wash trading and 80% of the trading volume.

it appears YOU are laboring under the delusion. Bitfinex/Tether is a bank, one licensed to issue currency ?
Protip: THEY ARE NOT A FUCKING BANK NOPE. SO STOP TALKING SHIT ABOUT CURRENCY. THAT SHIT IS -NON-APPLICABLE- HERE, PUNK

So tether is backed by the fees the exchanges make, therefore, backed by money?
Wow

It doesnt matter if its legit or not, because everyone want to believe its legit, the price will pump.

>haha you fudders are so dumb you don't even know finex made 4 billion dollars in fees stay poor kek

What happens when people stop "believing"?

What does that even have to do with what I'm saying?
user is saying that nothing backs tether and then says that exchanges make money off of trades done via tether because of the fees.
So it is backed by money

It is backed by SOME money. It's not backed by THAT MUCH money. The exchange has expenses, payroll, interest, rental to pay. Certainly they do not have 4 BILLION DOLLARS sitting around in reserves or investments or whatever. They barely had 1+ billion the last time they confirmed anything.

>everyone want to believe its legit
no they don't, most know it's not and they just ope to be holding the right crypto/fiat when it goes tits up

so the backing for usdt is directly likened to the value of btc
also need to sell those btc to reimburse peoples cashing out usdt

This very shit and binance are responsible to this second bubble, son.

If it bursts everything will crash.

Why would they if believing is making them money? This is my whole point

This dude is the most hilarious
>YOU FUDDERS ARE MAKING ME LOSE MONEY FOR BELIEVING OBVIOUS LIES SO YOU DESERVE TO DIE
topkek

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the binance whale let his 2k BTC wall at 13k get filled completely

Someone somewhere sometime in the scam has to cash real money out before other people do. That's when the shit will hit the fan. Probably not yet though, you are welcome to ride this bull all the way up.

when the news come that tether is only backed by like 50% and the USDT they hold can't be cashed out
> they buy in crypto USDT/BTC pair goes parabolic fiat pairs don't move ( like they did last time )
> USDT goes to zero and all those wanting to sell their crypto have to go into fiat pair which cannot take this new volume
> btc crash

Whatever keeps my UND bags pumping.

user, I...

But I'm up 700% YTD across BTC and a few alts, type what you need to in order to cope fren. I'm here for you. And before you ask yes, I've already cashed out some profits and am in negotiations of buying a home in New York. Guess this Ponzi scheme really fucked me big

>tether is such an obvious scam even brainletts understand it
your IQ is in the negatives, which explains why you are out of the loop

>there are no winners in a ponzi scheme therefore this isnt one

You are the one who doesnt understand currency. Comparing tether with usd is just plain dumb. In case of bank rush we have central bank as lender of the last resort and other fail-safe mechanism even a bail-out by the govt, who can back tether the same way if they failed to clear a transaction?

All exchanges dealing in tether should be held accountable for this ponzi, I'm looking at you binance

They don't need to be a bank to have similar business practices, just just how major brokers like Fidelity and Goldman Sachs don't need to be a bank (which they aren't) to have similar business practices. Again, you have a fundamental misunderstanding.

Also: I'm up in the green too kid, but I have no illusions about where this is going.

Now you are just being absolute retard. The product of investment bank like GS is miles apart from traditonal banking. Holy shit I know Jow Forums doesnt understand basic economy/business but this is on another level of retardation.

You are the one covering your ears and shouting like a sperg

you literally have no proof that it's backed tho finex has never given any even when they admitted "losing" 800M they didn't proved that they had the rest, they just admitted the loss, the 25% unbaked was just a calculation

the whitepaper literally say they can print as much USDT as they want "in prevision of future demand"

This goalpost moving is the tether fud in a nutshell. You claimed the funds don't exist but they do. You are wrong and also retarded.
>1B has entered the market
You say that as if this is some inconceivable number. Tether exchanges rely on USDT for almost all their volume and binance alone handles over a billion every day.

There are already papers showing evidence about the effect tether has on BTC, almost all price movement is caused by tether. Tether implosion would be a disaster for crypto and kill 95% of alts as all tether money is fake. This is not an opinion, its a fact.

Also NY AT showed yesterday they in fact have jurisdiction as Bitfinex was operating in new york this year.

Conclusion, all guys like you who do not take 5 min to read about this thing will get ultra rekt later this year.

>You say that as if this is some inconceivable number. Tether exchanges rely on USDT for almost all their volume and binance alone handles over a billion every day.
>comparing trading volume to mc

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GS has subsidiaries that lend just like every other investment bank, lending is a major product of both investment firms and traditional banks, pls, your ignorance is showing get yourself together

You have no proof that it's not backed, and neither does the NYAG. Sorry nocoiner

>you have a fundamental misunderstanding.
I don't you faggot, you are the one talking BS about 'ppl not understanding how currency works' to explain away this fucking Ponzi. While they undoubtedly do have some 'similar practices' to trad or investment banks or whatever, they are (a) not licensed to be doing ANY of it (b) not clever enough to get away with it (c) in the hole for near a billion anyway
Summary, they were fucked as soon as the NY Attorney started taking an interest. And it looks like the amount of Tether they now throwing around like confetti reflects some acceptance of this new reality on their part. You still up ? cool. Just don't ask everyone else to believe in Santa forever - because, at some point, the music WILL stop

Source on the ny Ag showing they have jurisdiction over tether????? SOURCE RIGHT THE FUCK NOW ASSHOLE

Pls share said papers, here's a fact: you can't because they don't exist. Your evidence is a poor FUD campaign that has been disproven multiple times

cointelegraph.com/news/new-york-attorney-general-fights-dismissal-motion-in-bitfinex-tether-case

I'm sure this abomination jas nothing to do with tether exit scamming...

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coindesk.com/nyag-bitfinex-tether-served-new-york-residents-longer-than-they-claim
rnd link - they carried out bizness in NYC ? they fucking liable. WELCOME TO LAW

coindesk.com/nyag-bitfinex-tether-served-new-york-residents-longer-than-they-claim?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic
like google

I'm not talking about how people don't understand, I'm talking specifically about how you don't understand. You, who bases his conclusions on memes on Jow Forums and who is so easily swayed by FUD that is ancient by this point

just answer me this
If you have literally hundreds of million and you want to get into crypto what do you do ?

1 go trough coinbase arguably the most trusted onramp in the market with direct fiat pairs and new even stable coin for other currency
2 buy otc as to not buy at a premium
3 go trough bitfinex to get usdt even tho they have already proved to have been hacked and lost access to fund backing the very crypto they will give you in exchange for your real money

somehow i'm supposed to believe the majority of liquidity is entering the market rough option 3

it's already proven not being back at least 800M that's more than you can do faggot

>everything that lends money is a bank
The absolute state.

>Low level reading comprehension.

Again, not saying they're Banks, but have similar business practices one practice being lending, which generate new capital.

you are talking endless shit about 'how currency works' to explain away this Ponzi, altho, this has zero fucking relevance. They are NOT a bank, they are NOT LICENSED to issue fucking currency, etc. What other point/excuse for their actions did you wish to make ? Oh. I see. You have none. NOW, we understand each other, end of