The pressure on Tether and Bitfinex is getting harder. This will really lead to a crash as soon as more people lose faith into UDST. Its sad that stuff like USDT can and will lead to a collapse of the BTC price.
I stopped using USDT about a year ago.
Has anybody ever converted their USDT to USD via https://tether.to?
Do you still use USDT?
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“Tether printing moves the market appreciably,” concluded the report, which compared bitcoin price movements before and after new tether issuance, as well as analysing publicly available tether transaction statistics using forensic accounting techniques. “48.8 per cent of BTC’s price rise in the period studied occurred in the two-hour periods following the arrival of 91 different tether grants to the Bitfinex wallet,” the report said.
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“At current prices, net new bitcoin requires $US18 million of net new $ flowing in to maintain the price,” he wrote on Twitter. “Yet there is a net $US100 million per day of fake $s in the form of tethers.”
http://www.news.com.au/finance/money/investing/without-this-scam-bitcoin-price-would-collapse-fears-grow-over-tether-printing-press-as-auditors-part-ways/news-story/308503ab61f82d320e92847a0b59a23b