No, it's not my claim, Overnight. It's RedDuke saying that Tether pushes the price of BTC higher. It's the reason I'm asking him questions
Crypto Critic Charlie Munger Sides with China
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No, it's not my claim, Overnight. It's RedDuke saying that Tether pushes the price of BTC higher. It's the reason I'm asking him questions
Oh, I see, you agree that Tether has nothing to do with BTC price. This is the post I read it from...
https://www.elitetrader.com/et/thre...r-sides-with-china.363242/page-8#post-5636979
You were posting rhetorical questions.
So in your opine, Tether and BTC are totally separate. *whew* I am glad for that, because the alternative would have made my head spin.
they are now under microscope and being investigated, they threading very carefully In such dangerous waters
If it is proven that they are biggest financial fraud in human history. They will spend the rest of their lives in jail. Would you not be afraid ???
Overnight,
Yes BTC was there before Tether, but it was a small niche thing. It took fake money like USDT to push it to levels where retail took notice.
Look at volume. Over 70% of daily volume is in stable coins, USDT being the largest one. They do not even need to print more to keep
Price afloat. Wash trading in Crypto is all
Over the place. If fake money are removed and wash trading limited, the price will plunge to insanely low levels.
Yes BTC was there before Tether, but it was a small niche thing. It took fake money like USDT to push it to levels where retail took notice.
Look at volume. Over 70% of daily volume is in stable coins, USDT being the largest one. They do not even need to print more to keep
Price afloat. Wash trading in Crypto is all
Over the place. If fake money are removed and wash trading limited, the price will plunge to insanely low levels.
I don't think Tether is a fraud, I have 20k usdt right now
Anyway, let's say you're correct, Tether stopping printing will not stop the regulators from putting them in jail for past printing
Let's move forward, you said Tether will print again when BTC price goes up, why would they do that if they fear the regulators????
Just like last time, they printed around 4 billion leading up to 2017 top of BTC 20k, paused for few years. Once no one came after them, then they printed like 76 more billions and pushed BTC to 69K and rest of crypto market up. now they waiting again, we all know there will be no audit, apart from some small firm in Cayman with like 3 auditors. If they not stopped in 2023-2024 they will resume the printing press, this time they may print few hundred billions.
Thanks for clarifying, RedDuke. I now understand how you resolve any contradictions in your Tether belief
Let me know if I misunderstood what you have said:
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For reference, Ford marketcap is less than $50 Billion
The Tether company printed $76 Billion, but then was scared of the boogeymen (Regulators) and they stopped printing (twice)
The Tether company will start printing billions, maybe even hundreds of billions of $ worth of Tether if no one comes after them
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I think that's crazy that you believe a company that can print enough crypto to purchase the Ford Motor company behaves like a kid playing a game of tag
It's cool that you believe that and continue to believe it, RedDuke
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why is it crazy when they were caught lying? For years they claimed that for every Tether they issued they had 1 USD. It was all over their site, this lie was what allowed them to be created in the first place.
once truth came out they claimed they it is backed by commercial paper. No audit was ever done.
about a year ago Bloomberg called every commercial paper desk in all major bank, and no one ever saw them trading a single one.
back then at 60 billion they would have been in top 10 commercial paper holders in the world. You do the math from here.