I wonder how long before people start asking some basic questions like
Why is there a constant stream of 100M Tether prints day after day?
Why would you need such a constant stream of fresh Tether to be printed and handed out to Tether based exchanges when there is no clear uptick in retail investors to drive such an insane, constant demand and rise of BTC?
Who would the generous billionaire(s) be who is buying all this Tether to buy BTC if the argument is "whales" are driving the need to keep printing Tether?
Why would a whale with hundreds of millions go through Tether when any sane person with that money would contact FIAT exchanges that are verifiable, reliable and deal in REAL MONEY to discuss exchanging USD for BTC on OTC exchanges, which wouldn't ever touch the active market?
4) Why is Tether circulation at ATH with 4 billion having already been printed when this stable coin is the most dodgy, untrustworthy and legally dubious when there are plenty of alternatives for exchanges and users to use that don't require USDT to be the driving backbone of the market?
5) If Tether based exchanges are 90% of the volume vs. FIAT/USD exchanges representing only 10% of actual volume, why haven't we seen a discernible increase in alt coin volume on a regular basis? After all, you don't need Tether to trade alts, and the amount of money and volume in the general alt market is dwarfed by the current uptick in BTC-USDT volume.
If you have such a sizable portion of the crypto market, 90% of it in fact, choose to trade on USDT exchanges because of an increased amount of trading options... why aren't they? If 90% of the USDT volume is basically planted only in BTC, why would those traders keep their funds on non-FIAT exchanges? Why not stick to FIAT exchanges that offer a better chance of security and actual value and currency that isn't backed by a stable coin which has zero proof of full liquidity?
6) ~4.0 billion Tether is currently in the market, all while the alt market hasn't moved and is still bleeding money, while BTC itself is trading at ~60% of it's ATH when Tether only had a billion USDT in circulation. A 300% increase in Tether overall printed, but a clear discrepancy in price, even when the argument is being made of record volume and rapidly "increasing" demand via the need to constantly print Tether at the sums of 100 million.
Just believe in forever repeating magical market cycles and have faith in your project, that is sure to change the world and make you a billionaire instantly.
Henry Fisher
> print USDT give it to some trader who then buy btc with it in hope to sell it for profit and repay the USDT loan > meanwhile other trader get new USDT loans to buy the previous guy bags > repeat into infinity how can this crash ?
Connor Morris
Stop depressing me
Chase Thomas
answer me bobos
Gavin Brooks
1) the loan needs to increase every time for the bagholder to make profit and repay his loan with interest. 2) if there is no real usd behind the tether than the trader doing your scheme can't get usd out of his trades just worthless tethers
Brayden Roberts
but there is no traders, this is all done by the same persons at finex > create an account and give yourself 50M USDT pump BTC > create a second account and give it 100M buy the first account's BTC > first account give back the 100M USDT paying it's loan > create a third account and give it 150M USDT to buy the second guy's BTC > etc
you're creating money out of thin air giving it to yourself and creating profits in fees for you exchange if the selling pressure become to great you let it drop and then repeat even if this is all a scam I don't see how it could crash
Jacob Mitchell
the hardest part was convincing peoples that 1 USDT = 1 USD but they have already done that years ago and to this day the majority believe it
Kevin Roberts
Fren why stress us more then we already are, you think we don’t all know this or have some kind of idea that tether is really untrusting. I honestly don’t know how some people can hold tether long term during a bear market. I myself just can’t do it, feel like any day this card of house will come crashing down. But like I said we all know this and don’t want to hear it please
Easton Powell
This. Banks operate on a far higher margin (fractional reserve) than finex in economies that are exponentially more complicated and dependent on stable, trustworthy money supply. Bitfinex fud is just there to keep normies out of the game.
Christopher Ward
I mean... The Fed is doing it, so what the hell, right? yolo
Evan Russell
this is no fud, tether is a scam I just don't see how it could crash at this point, I mean look at you believing it's backed and all like a good sheep
Isaac Powell
This is a situation where it's only okay when they do it If bitfinex keeps flying so close to the sun they're going to be burned
Ryan Morales
There is only one solution to this. It's to have a trustless stablecoin. Now how do we achieve that? By something called decentralization, right now we are stuck taking tethers word that they have 4 billion USD. Do you really want to trust hem? Solution: >Reserve Protocol
It will crash because it's a scam. The laws of nature never allow scams to persist for long. Look at the fed and the US economy and the price of gold. These ponzi schemes always, ALWAYS have a finite lifespan.
Camden Rodriguez
Cheked but still the fed has been printing since the 70's that 50 fucking years and they are still hitting new ath scam like theses need a trigger to explode and I just don't see it the NYAG just doesn't have the power to shut them down
Julian Adams
you make 0 profit doing this? seems a bit useless.
Nicholas Foster
50 years is a blip in natures passage
Eli Watson
what are exchange fees you generate trading volume by doing that
I'm happy to know that it's still over half of a human life
Dylan Hernandez
Just dont use tether lol
Buy sell directly with euro/dollar
Jason Bell
just to further my point
imagine you create an exchange and get about 1K btc in deposit, how do you get to own those BTC ? simple you create fakes accounts and give them fake ( but trusted ) money to buy the BTC, but you can't just retentive those BTC to yourself otherwise it will show that those account were fake, and owned by you, and thus exposing the whole thing so what do you do ? you just keep trading them between you some other fake account and some legitimate clients, all that volume now generate enormous amount of fees which the exchange can now claim legally at it's own and why not pump the price in the process it's just free money at this point :)
