“Once you have Tethers, you can trade them, keep them, or use them to pay persons that will accept your Tethers. However, Tethers are not money and are not monetary instruments. They are also not stored value or currency. We do not guarantee any right of redemption or exchange of Tethers by us for money.”
NYAG Legal Case: iapps.courts.state.ny.us
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Tetherbro?
So? I fail to see the problem.
It ironic that the argument for BTC is foten (((the big monetary inflation))) when the exact same manipulation is going in the very same market
OH NOES!!!!
OUR UNBACKED DOLLARS ARE BEING DIGITALLY REPRESENTED IN AN UNBACKED WAY!!!!!!
They are currenly under investigation. They are operating in a lagal gray zone, most likely, but they will be cracked down on one day.
Is this 2017? Tether FUD? Looks like we're in a bull market guys, BUY BUY BUY
GRAB ALL THE SHITCOINS YOU CAN CAUSE IT'S GOING TO MOOOOOOOON
That chart in the op looks terrible btw. It´s most likely gonna have a correction soon.
>will be cracked down on one day
and on that day 1000 tether 2.0 will spring up and continue to blow your faggy ass out of the water.
face it.
you lost.
priced out.
forever poor.
laughing stock.
10 yrs straight of being wrong.
bleak future.
seething fat fag.
Why you care? the whole crypto world is just a bunch of scams and projects that seem really nice but that aren't useful except for speculation. Just get in, buy low, sell high.
that means you can predict btc price just by knowing how much tether they are printing. is this the secret to crypto?
yes
cope, tether fud is so 2017
Yes
The real question is whether it's really backed by USD or not
Few thoughts:
>case 1: it's backed by USD
bullish overall, not bearish in the slightest, it's real buying
>case 2: it's not backed by USD
bullish for now, FUD could come out of nowhere and you may not have the time to respond before the entire market implodes. USDT is a structural issue. Will completely fuck crypto for years
>case 3: USDT is backed by USD but the perception that it might not be creates crazy arb opportunities for exchanges
in that case, bullish, and then arb whenever there is tether FUD
you didn't read the last thing here btw
>t. insider
Actually the price is suppressed by tether. Once tether collapses all suckers lose their fake money. But they still want crypto. That's when you see a 1000% daily candle.
lol it's only like 25% fraud I think like 75% is backed by dollars
how is this any different from the fact that when you deposit 1,000 dollars in your bank, that bank can turn around and lend out 10,000 dollars of credit?
>these shitcoins are scams!
>this other shitcoin, however, is definitely not a scam!
they're all scams. get a job, nigger.
It's not how it works you dumb fuck. 10% reserve ratio means that it can only lend out 900 USD from your 1000 USD deposit.
Are cryptofags financially illiterate?
I've been telling peoples to buy ever since march 19 but I wouldn't do it now, I don't know why but I have a really bad feeling about this tether pump
the monster printing in may just as BTC crash 1.2k in minutes and now a lower high despise even more printing
on top of that the treasury sending hundreds of million straight to binance now, no hopes not hiding it anymore just as blatant as possible
I don't like it
that figure is completely wrong,it come last year when bitfinex had to admit losing 800M of supposed backing for USDT at the time 800M was about 1/4th of USDT market cap,
so idiots started saying "75% backed" but bitfinex never proved to own the 75% left all we know is that 25% far not backed AT LEAST
bear in mind that USDT MC is almost 4x larger now
J Powell got rid of reserve requirements over a month ago
Need to put in all the Money sent to binance over the past couple days. It easily tops 100 million
>They are operating in a lagal gray zone, most likely, but they will be cracked down on one day.
NNOOO you can't just post numbers on the internet! What do you think this is? The land of the free and the home of the brave?
*ahem*
Let me get this straight. Tether prints let's say a million free usdt. Then they buy BTC, then they transfer the BTC to USD. How is this not a money printing machine?
Tethers are a currency.
Just like every FIAT on the planet. Except that Bitfinex has them pegged to the dollar and will do everything in their power to peg them to a dollar. Same thing chinks and spics do.
nigger detected who cant think systemically
>deposit $1000
>bank loans out $900
>$900 loan deposited
>bank loans out $810
>$810 loan deposited
>bank loans out $729
etc...etcc...
It absolutely is...But so is the US dollar and youre not complaining about that.
money is not currency. Money is a store of value...like a gold or silver coin. Currency is a means of exchange.
To the guy calling everyone stupid maybe you should read the new reserve requirement laws where there is 0 deposit requirement for banks to loan now, and you are the faggot moron trying to act like u have a clue. Stupid nigger
Craig is going to kill himself
I don't list USDT transfer to exchange I don't want to go completely insane
I just record the print, mostly because CMC was not doing it while tether was printing every day
>Bitfinex has them pegged to the dollar and will do everything in their power to peg them to a dollar.
no they no longer claim to be backed
the asset buying is even worse
fred.stlouisfed.org
this week when it seemed to be ending they had to buy again kek.
monero sucks amirite guys?
if you hang out in defi and crypto exchanges enough though, you will see that tether is valued by the market at generally the same as the other legitimate stablecoins though, and has even had shortages lately with high double digit interest rates in lending. it's not treated as being something everyone wants to get rid of. it's on the same level as usdc in terms of its market treatment, both are less valuable than DAI in recent times. It's impossible for bitfinex to have such a wide reach as to cause this to be the case unless they are creating or representing some kind of real value through it. if tether was weak there would be plenty of signs and there are none.