Tether

[RedDuke]

Some more facts;
https://www.theblockcrypto.com/post/95207/bitfinex-tether-new-york-ag-settlement-lawsuit

thanks for sharing this. The lawsuit was about that 800 million loss.

How does it address concerns of what is Tether backed by.

 

[Sprout]

I would trust big 4 audit. We not talking about using or not using tethers here, we talking about BitFinex issuing tethers out of thin air and using them to bid up BTC. Just look at data, 80% of BTC trading volume come from tethers and only 20 from real dollars.

https://twitter.com/x/status/1364232560369426438

 

[Pekelo]

https://www.bloomberg.com/news/arti...ir-warning-of-tether-s-sway-on-crypto-markets


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https://www.reddit.com/r/path%3D%252Fr%252FButtcoin%252Fcomments%252Flpwq94%252F

 

[RedDuke]

https://twitter.com/x/status/1364232560369426438

And those audits are where and done by whom ?

 

[tsznecki]

look at data. Tethers represent 80 percent of Bitcoin trading volume and issued with 0 proof that they are backed by anything. These are the facts.

Do you want me to link to to the thread where you couldn't give me facts and proof after I asked over 5 posts?

We are not here for statements and 1 line sentences. Where is the proof?

 

[RedDuke]

Do you want me to link to to the thread where you couldn't give me facts and proof after I asked over 5 posts?

We are not here for statements and 1 line sentences. Where is the proof?

not sure what more facts you want:

1) it is a fact tethers were created to represent 1 usd (in the bank of Tether Ltd) for every USDT issues. This was proven false
2) tethers are being issued with no control and a claim that they are backed by some assortment of Loans. Sound very shady to anyone who gives it a bit of thought
3) currently tethers represent 80% of BTC trading volume.

anyone can easily put 2 and 2 together. Issue enough tethers to buy 1 btc, use it to purchase 1btc, sell 1 btc for real money, pull real money out of the system.

 

[tsznecki]

not sure what more facts you want:

1) it is a fact tethers were created to represent 1 usd (in the bank of Tether Ltd) for every USDT issues. This was proven false

The above is a fact. Good job! Unfortunately...

2) tethers are being issued with no control and a claim that they are backed by some assortment of Loans. Sound very shady to anyone who gives it a bit of thought

anyone can easily put 2 and 2 together. Issue enough tethers to buy 1 btc, use it to purchase 1btc, sell 1 btc for real money, pull real money out of the system.

The above is pure speculation. You even admit to it. "bit of thought", "put 2 and 2" are not facts or proof. Come back when you have some. Next.

 

[RedDuke]

The above is a fact. Good job! Unfortunately...



The above is pure speculation. You even admit to it. "bit of thought", "put 2 and 2" are not facts or proof. Come back when you have some. Next.

the fact is that no one has any idea if Tethers are backed by anything. We just supposed to trust them. This is a fact.

 

[johnarb]

the fact is that no one has any idea if Tethers are backed by anything. We just supposed to trust them. This is a fact.

https://www.thestreet.com/investing/new-york-ag-shuts-down-bitfinex-and-tether-trading-in-state

 

[RedDuke]

https://www.thestreet.com/investing/new-york-ag-shuts-down-bitfinex-and-tether-trading-in-state

Yep just saw it as well. Means nothing of course. If tethers are shut down for good, then we will know BTC real price.