/biz/ - Business & Finance

>>58392130
Relax, Tether's magical printer always saves the day.

>>58105850
>Why isn't this more commonly discussed? It all looks so obviously fraudulent it's only a matter of time before it crashes hard.

It is if you look outside the crypto echo chamber. Researchers have been sounding the alarm bell about Tether for years, Tether being shady as fuck is practically a meme now. This was published in 2018:

>Statistical analysis of Bitcoin price manipulation by Tether issuance in late 2017

- The statistics support the theory that Tether Limited and Bitfinex corporations used Tether to buy Bitcoin in key occasions during the meteoric rise of Bitcoin prices of 2017 and beginnings of 2018.

- These corporations would print Tether right after transient Bitcoin price dips and would distribute it to an organized network of accounts in different cryptocurrency exchanges (explored in detail in John M. Griffin paper).

- Tether Ltd. would then buy Bitcoin with the freshly minted Tether and would promote the creation of a fraudulent bullish market, which would attract more investors to buy Bitcoin, contributing this way to increase the bubble (momentum effect).

- As part of the strategy, and supported by the paper mentioned in this article, Tether Ltd. would send the freshly bought Bitcoin to their accounts in Bitfinex.

https://medium.com/coinmonks/statistical-analysis-of-bitcoin-price-manipulation-by-tether-issuance-in-late-2017-b3342b8915a0

I suspect they are already under investigation in some capacity, the glowies won't drop any hints obviously so the first we'll hear about it is when they finally get raided.

>>57757618
>what is happening here?

1. Tether prints billions of USDT out of thin air
2. Tether uses that USDT to buy BTC
3. BTC pumps
4. Laser-eyed morons FOMO in thinking the pump is indicative of organic demand and higher future price
5. Profit-takers dump their BTC bags onto laser-eyed morons and cash out
6. Laser-eyed morons cope by convincing themselves that "it's still so early! WAGMI eventually!"

>>57536423
>Bitcoin is 44k though

For now lol.

>>57312148
>Answer the question, how many years, what price or market cap would it take? Even if you think it'll never happen, everyone has a limit.

lol price or market cap are irrelevant since, as seen, those can be manipulated. As long as wash trading is still a thing and Tether hasn't yet imploded, its impossible to take this clown market and all its fluctuations seriously.

So, what would it take? First, people actually going to prison for wash trading crypto as is the case with TradFi, that would certainly help with rooting out that practice.

Next, Tether finally getting raided and shut down or simply imploding. Either is fine, as long as the shenanigans are put to a stop.

TL;DR: take wash trading and Tether out of the equation and force BTC to sink or swim purely on the strength of its fundamentals. If it could survive and maintain its value for, say, 5 years without those crutches artificially propping it up then I'd have to take off my hat. But it won't happen, as seen, BTC is rapidly losing the confidence of black marketeers, terrorists and pedophiles i.e. its historic userbase because its fundamentals suck. It's a slowly dying memecoin.

Here's some sobering reading for all you lurking maxitards who STILL think Bitcoin's NGU spikes are "totally organic, bro!"


>Bitcoin goes up! Can 5 billion unbacked tethers kickstart a fresh crypto bubble?

Bitcoin is over $44,000! In just the last week, the invisible hand of the market suddenly decided that bitcoins are really good now!

By complete coincidence, Tether has printed five billion USDT stablecoins in the past month out of thin air as “loans” — backed in the Tether reserve only by the “loans” themselves.

How high can you pump a number with five billion fake dollars to deploy?

https://davidgerard.co.uk/blockchain/2023/12/06/bitcoin-goes-up-can-5-billion-unbacked-tethers-kickstart-a-fresh-crypto-bubble/

>>56832480
>lmao here we go

lol keep going