So it turns out Tether only holds 3% cash, the rest IOUs etc.

[tsznecki]

I want a pack of Wrigley's gum. How many tethers do I need in my electric wallet to buy a pack of Wrigley's gum?

It is coming, dudes, and only one side is going to win.

*hint* It is not going to be the electronic side.

I see where you are going with this and no you aren't half as smart as you think you are.

How many brain cells do you have to lack to not realize the dollar is already electric? Go read up on fractional reserve banking.

Do you think your bank's ATM magically prints cash? LOL. #ThoseMassholes

 

[tsznecki]

Simple, how do you pump bitcoin prices up, create dollars out of thin air to put demand pressure on Bitcoin causing the price to skyrocket.

Whole thing smells like some super elaborate ponzi.

Can you prove Tethers were being used to buy BTC?

 

[newwurldmn]

They say a lot but why are they not reporting on the so called “Commercial paper” who are the issuers, what backs the commercial paper etc.

There is very little details provided by Tether LLC. Cant be called a stablecoin if 1 tether is just 3 USD and the rest high risk unknown holdings.

commercial paper is a form of a money market. its extremely short term duration debt (like 30 days). companies use it all the time to finance ongoing operations. with the exception of 2008, it almost never defaults.

 

[SteveM]

I see no harm in Tether printing anything out of thin air. If our government can do it, then so should we. The only difference is I don't bitch about it

Jesus....wasn't the whole godd**mned premise behind BTC being worth $50,000 the fact that it "it can't be devalued due to excess printing like central bank fiat currencies?"

 

[Butterfly]

Jesus....wasn't the whole godd**mned premise behind BTC being worth $50,000 the fact that it "it can't be devalued due to excess printing like central bank fiat currencies?"

and that it was ultra safe and couldn't be hacked LOL

all you need is to hack all the exchange, problem solved LOL

Bitcoins fools

 

[trend2009]

so if the exchange employee hacks the Bitcoin?

 

[Sprout]

First they claimed a 1 to 1 match dollar to Tether, then now only 3%.

If 62,000 tethers appear in the market and is uses to buy 1 bitcoin. Now the print on the tape is Bitcoin bought for 62K USD.

and thats what the media will report, ie Bitcoin breaks new price barrier, 62K USD


a large portion of bitcoin purchases are done via Tethers appearing on exchanges and buying up more BTC.

last Friday Tether provides its report which is light in details such as what makes up the Commercial paper etc. and the shocker is they really only hold 3 cents USD to every “1 tether dollar” the rest filler. For all we know is all that commercial paper is backed by Bitcoin

Why has this not moved the markets much or gain much media attention?

Ok, let us know when you will be your namesake on BTC.

 

[S2007S]

What you are failing to realize is that sending Tether is faster than sending USD to an exchange from a bank. It takes at least 5 days to see your money from an ACH from a bank, Tether only takes seconds. You can also send Tether to other crypto exchanges in seconds for less than 3 cents, and then trade with it.

And FYI the electronic side has already won. We are now waiting for USD to be digital

So with all this new wave of technology and the banks knowing allllllllllllllll about this new transfer of sending money to other entities with certain cryptocurrencies, how come the banks can't just create their own systems to do ach and other money transfers In seconds instead of days?

 

[Sprout]

So with all this new wave of technology and the banks knowing allllllllllllllll about this new transfer of sending money to other entities with certain cryptocurrencies, how come the banks can't just create their own systems to do ach and other money transfers In seconds instead of days?

Because it’s an entrenched ol boy network happy with biz as usual primed for disruption.

 

[Trader Curt]

We? Have you received any tether free of charge that was printed out of thin air?

No I haven't. Just like I was never given any FIAT free of charge either, no...

Jesus....wasn't the whole godd**mned premise behind BTC being worth $50,000 the fact that it "it can't be devalued due to excess printing like central bank fiat currencies?"

Yes that's correct, since there has never been another Bitcoin printed since it first started, yes...

So with all this new wave of technology and the banks knowing allllllllllllllll about this new transfer of sending money to other entities with certain cryptocurrencies, how come the banks can't just create their own systems to do ach and other money transfers In seconds instead of days?

Because we're using Blockchain Technology
For banks to use this technology the USD would have to be put on the blockchain. If our USD gets put on the blockchain not only would it make everyone's lives easier, but it would expose the corruption taking place by the government, since all transactions can be seen by everyone. Do you see where I'm going with this?