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13441941 No.13441941 [Reply] [Original]

if Tether, and thus everything, is collapsing, why is 1 USDT still worth roughly 1 USD on exchanges? It's all just FUD again, isn't it?

>> No.13441957
File: 116 KB, 1159x570, finexed.png [View same] [iqdb] [saucenao] [google]
13441957

>>13441941
regular candles is coinbase price, yellow is bitfinex price

>> No.13441980

yea just ignore it

>> No.13442003

Tether is backed 70% instead of 100%, however, most banks are only required to reserve 10% of deposits and loan the rest out. It's no real catastrophic problem.

>> No.13442019

>>13441941
I guess people trust tether/finex more than the word of the ny ag.

>> No.13442031
File: 53 KB, 800x450, comment_Nh7qEgTXTckCG9l1rST8FkhcpVnGwNxP,w400346.jpg [View same] [iqdb] [saucenao] [google]
13442031

>>13441957
>Price difference between 2 centralized exchanges

>> No.13442039

>>13442019
https://www.youtube.com/watch?v=D1yj0NKSsuU
she seems pretty low IQ tbhfam. I'm not familiar with her, is she as incompetent as she seems?

>> No.13442045

>>13441941
Tether is washtraded to have its peg. How else do you think it trades so nicely against the USD?

>> No.13442935
File: 19 KB, 480x360, 1535146169064.jpg [View same] [iqdb] [saucenao] [google]
13442935

>Be Bitfinex
>Sell billions of dollars worth of nothing. Have billions, winning.
>Must keep enough cash to cover redemptions, which are a minuscule portion of your billions.
>Use the rest to get rich.

Anyone who thinks they are fucking this up deserves to lose their money. They are doing the same shit our banks do with a 10% reserve, and people are freaking out because they *think* it's not 100% reserved. Just FUD, and a cop on a power trip.

>> No.13442971

>>13441941
>why is 1 USDT still worth roughly 1 USD on exchanges?

It's not, only on bitfinex because finex is buying them back to redeem them early before shit gets real.

USDT trades on Bittrex and Kraken at 96-97 cents on the dollar. That would be an instant 3% arbitrage gain. As liquidity exits the market, shit will get real.

Think the flash sale in "margin call", first you exist at 97 penny on the dollar but later on you will be liquidating your shit at 40p

>> No.13442997
File: 62 KB, 641x753, tether.png [View same] [iqdb] [saucenao] [google]
13442997

>>13442971
Bitfinex is trading dollars for tether before tether crashes? Plus, you are just lying about prices, pic related. FUD.

>> No.13443002

>>13441941
because OGs are convincing people everything is fine while they quietly exit. Without teter btc would go below 1k. They keep proping the price up so they can exit when regular people buy at those inflated prices

>> No.13443034

>>13442997
Go on kraken and Bittrex where the real volume is.
0.97 and 0.98 respectively.

Finex/tether is buying back tether on the market to remove them of circulation, emptiying the reserves before others do so

>> No.13443052

>>13443002
well they all deserve it for being so stupid, everyone should be buying stINK, its the obvious choice.

>> No.13443057

>>13442003
>Tether is backed 70%
lol

>> No.13443061

>>13442003
BTC is backed 0% so it's an improvement but still

>> No.13443076
File: 55 KB, 645x968, brainlet.jpg [View same] [iqdb] [saucenao] [google]
13443076

>>13443034
Binance is #12, but the real price is on numbers 213 and 325. The $10B volume in my screenshot is all fake, but the $20M on kraken and bittrex is the real market. Like I said, FUD.

>> No.13443089

>>13443076
>10B$ Volume
>355M$ on Bitforex
Yeah sure

>> No.13443094

>>13443076
Also notice that it's is all below 1$ It usually trades at a 1 cent premium

>> No.13443130
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13443130

Not saying the price isn't down, the FUD is working. I just think it is way more likely that this is FUD than it is that they fucked up so colossally that they won't be able to maintain the $1 price. Imagine you are bitfinex and you promised that tether is 100% backed. Turns out you were lying, and it's only 50% backed. You could still easily withstand a bank run that would devastate any fiat bank in the world. New York cops trying to fuck with them is just Wall Street sending in their attack dogs.

>> No.13443232

>>13442935
Its not when they advertise 100% backed and we find out it's closer to zero than ten. Assets and shares are illiquid and unsuitable to back a stablecoin like tether which seeks to provide maximum liquidity.

>its the same shit banks do goys calm down
>implying this assuages a thinking person

>> No.13443241

>>13443034
Bittrex has real volume? Did you time travel here from 2016?

>> No.13443428

>>13441941
Nothing is collapsing. The fact that people even use the term collapse is all the evidence that I need to conclude that this is another round of FUD that the braindead drones are eating up.

>> No.13443456
File: 131 KB, 1490x851, 1556243771822.png [View same] [iqdb] [saucenao] [google]
13443456

>>13443241
>Bittrex has real volume?
yes

>> No.13443497

>>13443130
Yeah, if it was literally any authority other than New York USAG I might give a fuck but New York is a fucking corrupt joke.

Maybe Bitfinex have dun goofed but I think it's likelier this is just some political hack trying to get headlines.