Tether Concerns

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Well no shit, it`s like working like real USD, been printing them since 70`s.
They never should have canceled Gold standard for notes.
 
http://stockemperor.com/currencies/tether-now-prints-100-mln-usd-daily/
 
Well as long as it’s backed by a federal govt, print away... oh wait...
 
It's scary, people are losing faith and that's one of the most important aspects of USDT
 
:D:D:D
haha.png
 
I’m glad I don’t have a Bitfinex account. Who will be the next to crumble....
 
I think in the end we will be buying alts with fiat instead of btc or eth. Having these trading pairs is a recipe for disaster.
 
Current market cap is $2,231,177,125 USD

Clearly this Tether investigation and the news articles that landed today has rattled the market a bit.
 
waterworks said:
Current market cap is $2,231,177,125 USD

Clearly this Tether investigation and the news articles that landed today has rattled the market a bit.
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That`s why BTC is tilting :D
Can`t print that much anymore :D
 
Isn't tether supposed to be backed 100% by US Dollar reserves, so in effect a run on the bank shouldn't even change the price of tether?
 
ThatWeb20Guy said:
Isn't tether supposed to be backed 100% by US Dollar reserves, so in effect a run on the bank shouldn't even change the price of tether?
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The thing is they are not backed by US dollar.. they said they would be but lied..
 
NxtGenLedz said:
The thing is they are not backed by US dollar.. they said they would be but lied..
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This is where people get confused. They are supposedly backed by 'a US dollar' and not ' the US dollar'. Meaning, the US gov has nothing to do with the coin. Instead, some wealthy folk are putting up the cash to back the coins and probably charging a transaction fee and making money that way. But obviously you can see flaws in this plan the moment you consider market cap.
 
waterworks said:
This is where people get confused. They are supposedly backed by 'a US dollar' and not ' the US dollar'. Meaning, the US gov has nothing to do with the coin. Instead, some wealthy folk are putting up the cash to back the coins and probably charging a transaction fee and making money that way. But obviously you can see flaws in this plan the moment you consider market cap.
Click to expand...

No.. Tether's 'USDT' is meant to be always "1 tether = 1 us dollar".. Their whole business model was based on providing a 'secure' crypto that was tied to the USD. The fact that they lied and started printing tethers without backing them to the dollar means = massive fraud.
 
ambushiv11 said:
I am very curious to see the results of that investigation :D

It's either another crash or a boom for the market :D
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BTC is doomed. Tether has been keeping the btc prices up. Without tether support whats going to happen? lol.
 
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