Tether price manipulation

Post by mkr-hn » Fri, Jan 08, 2021, 3:34 PM UTC

gthaman wrote: post #188

qeternity wrote: post #178

Earlier quoted context omitted.

Backed by nothing...as opposed to bitcoin? People who repeat this don't understand that fiat money is based on trust...and that is not a bad thing. This is why blockchain is fundamentally stunted: the global society is based on trust and cooperation. Trustless systems will never be able to compete in these arenas.

yawn speaking of jumping the shark, have you seen what governments have been up to lately ? interest rates at a 5,000 year low, moral hazard abound & global fiat collapse imminent in the best case and in the worst case we have banks/elites/governments who are going to be looking to further enslave those in debt and forced out of business/work with some dystopian debt forgiveness scheme involving a 'vaccine' schedule…

Post by blueline » Fri, Jan 08, 2021, 3:46 PM UTC

tim333 wrote: post #98

qeternity wrote: post #39

Earlier quoted context omitted.

The fact that the above still remains true 3 years later is pretty damning.

It also suggests things will go on and we'll be in much the same situation in years going forward.

Post by FabHK » Fri, Jan 08, 2021, 3:49 PM UTC

user22 wrote: post #135

JohnJamesRambo wrote: post #119

Earlier quoted context omitted.

The killer app for Bitcoin is escaping government fiat money that is backed by literally nothing at all and is being printed at increasingly alarming rates. 40% of all USD ever created were “made” in 2020. That will have repercussions for decades and isn’t a currency I want to stay in. https://fred.stlouisfed.org/series/M1 Ironically (or not) Bitcoin was created in 2009 right when that graph gets really crazy.

I have a question, isn't the problem with the gold standard that the amount of dollars is fixed and in order to have enough currency to drive a rapidly growing economy you would in essence be buying a gallon of milk for .25 cents? It seems to me that either you the amount of currency in circulation needs to increase or the value of the existing currency needs to increase. Taking into account the gold standard was use…

Post by ahelwer » Fri, Jan 08, 2021, 3:51 PM UTC

michaelchisari wrote: post #91

graeme wrote: post #86

Earlier quoted context omitted.

Wait what’s the January 15th date?

Bitfinex and Tether have till the 15th of January to submit documents to the New York state attorney general about their financial relationship. The shortfall of $850m was allegedly printed by Tether and given to Bitfinex to cover up the losses Crypto Capital created. It is speculated Bitfinex and Tether can't submit any documents without revealing their cover-up. This will result in the conclusion that Tether isn't…

Post by FabHK » Fri, Jan 08, 2021, 3:53 PM UTC

tim333 wrote: post #64

qeternity wrote: post #15

The problem is that in the early days of @Bitfinex'ed this was all a bit of a sideshow because there was genuinely large interest from retail and the outcome of crypto was far less certain. However three years on, crypto still does not have a "killer app" and is 99.99% used for speculation. Bitcoin's narrative has had to morph from "digital currency" to "digital gold". But in the depths of the March panic, Tether jum…

>does not have a "killer app" and is 99.99% used for speculation You could argue speculation is the killer app. I'm not a fan but it's hard to deny it's a huge business and some people seem to like it. Kind of like Las Vegas in a way.