Topic: Tether: not even a scam - page 8. (Read 31060 times)

I don't know how it would be even possible to be alive in the long run.
I'm avoiding this one.

https://medium.com/@bitfinexed/the-audio-recordings-bitfinex-doesnt-want-you-to-hear-44d677cf1094

When, you think about 2008 and years similar to that one when the ''financial crisis'' was the man of the year and when you think where shit went wrong? Things, like we have in crypto called Tether, cross on my mind. Is it backed up by a dollar or not. If it is, what is the security for that? Who can guarantee that Trump won't put a dollar to sleep with this economic and taxation war with China?

https://cointelegraph.com/news/bitmex-tether-possibly-has-enough-cash-reserves-could-still-be-shut-down

yes it is sure to go up veeryone buy naw before the pump soon.

I always felt bitter when people started talking about how tether is useful. I wish to believe it and use it against bear markets but sadly, it was very weird scheme all from the start. Its better not to use it.

What are you talking about? Now is time to get all your money from usd and tether to cryptocurrencyes... Do not buy tether now?? I mean you won't get any profit from it, except if you buy low sell high other cryptocurrencyes with it...

But rather than tether you should get your account on bitstamp and there you have real dollars, no tether...

it seems to me now is the time to invest

I see Tether as a scam.
I do not believe their bank statments and so on, devs just started to print it and get cash
It is strictly my opinion, I do not say that it is true.

Tether price is tied to USD, that is the point of Tether. So no, it's not going nowhere, surely not to the moon. The idea of Tether is to face the volatility of crypto markets...

Cobinhood Delists Six Tokens Susceptible to Pump and Dump, Limits Tether Pairs.
As some cryptocurrency exchanges are adding new altcoins, tokens and forks all the time, cashing in on massive listing fees from promoters, the need arises to trim the fat ever so often. Now Cobinhood is removing a few, offering a glimpse on how trading venues decide which tokens to cull.

Full article, source: https://news.bitcoin.com/cobinhood-delists-six-tokens-susceptible-to-pump-and-dump-limits-tether-pairs/

One might imagine the devastation of the effect that Tether can possibly bring by just taking a closer look at the BTC trading graphics/charts:

https://www.coingecko.com/en/coins/bitcoin/trading_exchanges#panel

33.3% of the trade will be the mere minimum that will be affected, and does yet not take into account the USD and Bitfinex (which are both tied to USDT in some sort) and the subsequent decline of as well Ethereum:

https://www.coingecko.com/en/coins/ethereum/trading_exchanges#panel

Ethereum will be crippled if USDT fails, because not only is USDT entwined in 24.9% of all Ethereum trades, the effect is complementary to USDT affecting the underlying BTC price as well. ETH/BTC will drastically alter  when a run from tokens>eth>btc>fiat starts. Most ERC20 tokens might lose up most if not all their current value. Actually this drain of value from ERC20 tokens has been going on for some time already, very slowly, and with a subtle price pump now and then for the more "popular" tokens, to keep people believing in those ridiculous projects.

If you are currently investing in crypto and the only way to cash out is through Bitfinex (USD/USDT), it might be wise to reconsider the situation you are in, again. That exchange is the first one where things will start to fall apart if people make a run for their money. Remember how in real life even a small and seemingly insignificant bank could topple entire societies and economies worldwide some years ago? And remember that in crypto there are no rules!

These people that tell others to have good faith and that things are 100% well-organized, without any motivation to pursuit a more adequate answer, they are the same people that thrive in the absence of rules as always, namely idiots (the ones unintentional bringing harm to others) and criminals/mafia (the ones intentionally not caring for others being harmed).

Shit, crap board timed out and I'm not retyping that whole paragraph that got lost.

Abridged: The onus is on them prove they are not a scam, anyone that just has faith in some cabal fake 100% created token is ignorant as well as moronic.

Can you specify then what Tether did for the space? I'm not quiet sure (yet).

I think credit should be given to whom it is due, what Tether did for the space is not small, though the team has to clear up the air about some questions being ask but this is far from scam. I don't know if people observe that since the FUD around Tether started the price of BTC has suffered great dip

Zuck knows why.

Especially the fact that Tether has been allowed to come into play is remarkable, because now we have:

- An ongoing bullish trend / increase in value
- "Experts" claiming crypto is secure and that the future will be great ("we're all becoming rich")
- The economy is slowing down / not picking up the right pace
- Increased influx of USD to pump the market (through USDT)
- Increased access to the crypto market for the public (through USDT, and crypto exchanges poppin' up like mushrooms)

Now let's take a look at the US housing bubble

- An ongoing bullish trend / increase in value
- "Experts" claiming that house prices are booming and real estate is good business ("we're all becoming rich")
- The economy is slowing down / not picking up the right pace
- Increased influx of USD to pump the market (through increased interest rates)
- Increased access to the market for the public (through subprime mortgages and loans/credit without collateral)

And here's the US derivatives bubble

- An ongoing bullish trend / increase in value
- "Experts" claiming that derivative are the next best thing and the market is safe ("we're all becoming rich")
- The economy is slowing down / not picking up the right pace
- Increased influx of USD to pump the market (too big to fail bailout)
- Increased access to the market for the public (loosening up regulations that allowed all kinds of derivatives, and the introduction of smartphone/browser stock trading applications)

It's a bit odd.

Since people cannot cash out USDT to USD, every USDT that is bought with USD represents $1 that will never leave the crypto market.

So when buying USDT with USD, no real value is added to the cryptomarket, and yet when USDT would "cease to exist" 2.5 billion USD will be gone from the crypto market. How? Because of the deception in how value is being defined and calculated. If something cannot be traded for $1, then why would it be worth $1?

The enormous false volume that moves around in circles each day in day out, the large proportion of fake coins/ico's, and Tether that is just still up and running...

as if the blockchain and crypto market are being used as some sort of testing ground.

There seems to be alot of people that just don't understand what tether really is, I can't believe there are Morons that keep chanting wait till the USDT pump!

This really is good reading for anyone interested in Tether/USDT.

https://www.pastemagazine.com/articles/2018/01/a-primer-on-the-bitfinex-and-tether-subpoenas-that.html

http://www.tetherreport.com/

Everytime new Tethers are printed (I wish I could know when this happens), it seems that the Bitcoin price is going down.
It has happened every-time recently, so all the rumors that BTC is kept artificially up bu the "created out of thin air Tethers" might actually be true