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1  Alternate cryptocurrencies / Altcoin Discussion / Re: Why does Tether supply keeps growing(stable coin) on: July 24, 2019, 09:35:25 AM
Quote from: Red-Apple on July 23, 2019, 11:03:27 AM
Quote from: henryriesling98 on July 23, 2019, 07:24:08 AM
Bitfnex needs USD for payments, but they cannot print USD. Printing a lot of USDT to buy BTC and liquidating them to USD help them do that. Only when they are investigated for deposit, will they sell the BTC for USD to prove it.

have you checked the supply of Tether ever before? i don't think so. i suggest you take a look at it. then check out bitcoin price. if they were really buying bitcoin with USDT then selling it for USD then bitcoin price should have fallen to $100 and less due to the sheer amount of sell pressure Cheesy

Of course it does not sell off in 1 time. 10m usdt is printed to buy btc for 6k, then sell btc for 8k. After returning 10m usdt, the excessed amount of usd is the received interest.
2  Alternate cryptocurrencies / Altcoin Discussion / Re: Arrgh! Libra here and There on: July 23, 2019, 07:32:04 AM
Libra is a stable coin used for payment. I find it does not affect the crypto market apart from pulling more cash into the market, which has strong influence on bankers.
It, a bank that nobody controls, holds the shopping behavior of 2 billion people in this world.
It is the banking system in the world that will be impacted strongly, not this crypto market.
3  Alternate cryptocurrencies / Altcoin Discussion / Re: Why does Tether supply keeps growing(stable coin) on: July 23, 2019, 07:24:08 AM
Bitfnex needs USD for payments, but they cannot print USD. Printing a lot of USDT to buy BTC and liquidating them to USD help them do that. Only when they are investigated for deposit, will they sell the BTC for USD to prove it.
Usually anytime bfn is requested to prove usdt deposit that massive amount of BTC is sold.
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