Why does Tether supply keeps growing(stable coin) - page 2.

asriloni

legendary

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Leading Crypto Sports Betting & Casino Platform

Quote from: Facundito on July 22, 2019, 05:04:05 PM

Does any of you choose to believe that Tether's credibility will end some day?

Tether has as much backing as Venezuelan Peso

I do believe about that. The credibility of tether already ended when it was avoiding the audit from the reliable party.
It's not clear about where tether gets the money that makes the tether team able to print more and more money anytime. This just like a scammer that produce its own money.

Facundito

newbie

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Does any of you choose to believe that Tether's credibility will end some day?

Tether has as much backing as Venezuelan Peso

monalia

member

Activity: 685

Merit: 14

I believe many of the traders in centralised exchanges, they used to make final shot conversation to USDT and keep their funds safer in one level. So this USDT is one of the option for the traders to keep their funds in safest place.

semes

member

Activity: 713

Merit: 31

Quote from: Pingip on July 21, 2019, 05:18:52 PM

Bitfinex (tether) "lost" $850m

Tether lent (embezzled) almost a billion dollars to bail out bitfinex (tether)

Tether tells no one.

About half a year later, tether updates their TOS so that USDT is backed by "assets" The total "value" of the assets as measured in USD is supposed to be equal to the supply in USDT.

Tether is publicly called out by the NYAG for fraud and misuse of funds.

Tether admits that each USDT is only (at best) 74% backed.

We then discover that tether lends USDT and counts the loan as it's own backing. Tether refuses to ignore requests to verify holdings, only admitting they are insolvent when called out.

That's $2 fucking billion dollars in just 4 months. Just for the past 7days alone, they've printed $125,000,000. How is that possible? Just how?

Tether can print money with 0 oversight. So they do.

But their time will come, next court date with the NYAG is in 8 days.

We can make thousands of comments and criticisms about Tether. But it continues to take full advantage of being the first. Today, there are more than one stablecoin on each exchange. And almost all of them have Tether!

qazgroup

member

Activity: 1022

Merit: 20

RiveMont

The simplest justification for this from them would be that more and more people are investong and holding usdt that is why the supply of usdt is on the rise and this statement could be true because many people do stay in usdt and wait for perfect opportunity to enter market.

Facundito

newbie

Activity: 3

Merit: 0

They keep on doing nasty things because they are not regulated.

Now, if you were part of the powerful elite that controls the flow of money, would you remove the one single obstacle that currently caps bitcoin ecosystem's credibility? You wouldn't, right?

That's my suspicion for the moment – tether misbehavior serves elite's purposes.

Now the next question would be, what would happen after tether & bitfinex get shut down?

Would loss aversion drive insane new lows? or Would the market absorb the crash knowing that BTC is no longer capped?

Maybe is somewhere in between. I wonder who can really know that.

Pingip

newbie

Activity: 14

Merit: 3

Bitfinex (tether) "lost" $850m

Tether lent (embezzled) almost a billion dollars to bail out bitfinex (tether)

Tether tells no one.

About half a year later, tether updates their TOS so that USDT is backed by "assets" The total "value" of the assets as measured in USD is supposed to be equal to the supply in USDT.

Tether is publicly called out by the NYAG for fraud and misuse of funds.

Tether admits that each USDT is only (at best) 74% backed.

We then discover that tether lends USDT and counts the loan as it's own backing. Tether refuses to ignore requests to verify holdings, only admitting they are insolvent when called out.

That's $2 fucking billion dollars in just 4 months. Just for the past 7days alone, they've printed $125,000,000. How is that possible? Just how?

Tether can print money with 0 oversight. So they do.

But their time will come, next court date with the NYAG is in 8 days.

Topic: Why does Tether supply keeps growing(stable coin) - page 2. (Read 344 times)