Tether: not even a scam

[ANDREW 555]

Listing on IQant (February 04 10:00 UTC)
https://coindar.org/en/event/tether-usdt-listing-on-iqant-2953

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[Semosuchi Tesongrato]

If the rumors will be demonstrated, it will be another shot to cryptocurrency credibility.
However, when the system you manage - I'm not talking only about Tehter - starts to move hundreds of millions of dollars, and you don't have any kind of rules to respect or authority controlling you... well, I think that the temptation to cross the borders - in any sense - becomes very high.

[acefox]

check this article... explains a little bit the Tether case.. it's a good article.

https://noticiasbitcoin.io/2018/01/29/tether-continua-emitiendo-moneda/

English language site please!!!!!

[kps9727]

What really raises my eyebrows is how, during a time when Tether isn't accepting any new customers, nor is it allowing existing customers to deposit new funds was Tether able to issue $600M new USDT on Saturday, Jan 27?

[Brunus]

It's a very difficult moment for cryptoworld, because the attacks to its credibility come from everywhere, and banks and governments put all kind of ban. Tether is just one aspect of these attacks.
But I think this is very positive, in the middle term: it means that traditional centers of power have understood how dangerous bitcoin is for them, and how big will be the political and economic revolution started by bitcoin.
They can make this revolution difficult, but they can't win.

[DedvTapkax]

I'm sure that the news that Tether is  scam has appeared in order to reduce the price of bitcoin. Whales want to buy a cheap bitcoin and therefore came up with this negative news.

[European Central Bank]

Bit humb offers to back Tether' s valuation no matter what happens to tether itself.

http://m.etoday.co.kr/view.php?idxno=1592309

Kind of interesting to see this. Tether have somehow miraculously forced everyone else to take its backing on. This is a very bitfinexy move.

[ulhaq]

It has been revealed that they have an account with ING:
https://cryptovest.com/news/ing-confirms-bitfinex-banking-account/

In addition there was a report a few days ago that speculated that they have a bank account in Puerto Rico.

This should alleviate some concerns, but there is still the questionable dramatic increase in circulation of tethers around times of bitcoin price declines:
http://www.tetherreport.com/

Since they are making so much in transaction fees, I wonder if this is legitimate, but if bitfinex is created USDT from the USD profits they are making, and then using their USDT to prop up the market?

[ThunderCatSteve]

It has been revealed that they have an account with ING:
https://cryptovest.com/news/ing-confirms-bitfinex-banking-account/

In addition there was a report a few days ago that speculated that they have a bank account in Puerto Rico.

This should alleviate some concerns, but there is still the questionable dramatic increase in circulation of tethers around times of bitcoin price declines:
http://www.tetherreport.com/

Since they are making so much in transaction fees, I wonder if this is legitimate, but if bitfinex is created USDT from the USD profits they are making, and then using their USDT to prop up the market?

Not likely!!!

[onionpealer]

Often, when a cryptocurrency tanks, holders of a rival coin will tease them with "SFYL" - sorry for your loss.
But the entire industry needs to keep an eye on Tether's USDT token, because if something were to happen to it, the result could be everyone's loss.
That's because the coin, also known as tether, has become a pivotal source of liquidity for the crypto markets.
https://www.coindesk.com/big-fail-tether-might-still-cryptos-ticking-time-bomb/

[fdino577]

Tether is working hard to disrupt the inherited financial system through a more modern approach to money. It will be the first platform to ease money transfer on Blockchain. Tether has given its users the ability to transfer value over Blockchain without the inherent volatility and complexity associated with associated digital currency.

They launched and released the US dollar and the euro as Ethereum-based Tether, compatible with the ERC20 standard with the Omni Layer Protocol.
It allows digital USD and EUR to be transmitted via the Ethereum network.
It allows users to transact and exchange securities through the Ethereum network.

The ERC20 will have a fast exchange of data and finance ie a lot and a lot of net transaction fees compared to Tether on Omni.

[snazir]

 Tether is the first Company in the space to undergo this Process and pursue this level of Transparency, Tether really made me confused compared to other Coins and I Didn't really expect it to be Considerated as a scam. Everything will go down like hell and There will not be Enough time to convert the Crypto assets into real Fiat.Tether Has Seen a lot of Controversy and there is always Something to say against the Company, The fact that there are no alternatives out there is Ridiculous, , iam will stay Away from tether so I love this.

[Goozzi]

Tether has just created $ 300,000,000 USDT. Let's see what it would be like. Most likely after this, we can expect the growth of bitcoin.

[Hueristic]

Tether has just created $ 300,000,000 USDT. Let's see what it would be like. Most likely after this, we can expect the growth of bitcoin.

Sauce?

[Goozzi]

Tether has just created $ 300,000,000 USDT. Let's see what it would be like. Most likely after this, we can expect the growth of bitcoin.

Sauce?

Tether appears to be back at it printing yuge batches of USDT, this time around it is 300,000,000 USDT in one go.
Source: https://omniexplorer.info/tx/f3efac4b6203248fc06e2788b61e732319a6e596768f5240680f944780ff84f4

[Hueristic]

Tether has just created $ 300,000,000 USDT. Let's see what it would be like. Most likely after this, we can expect the growth of bitcoin.

Sauce?

Tether appears to be back at it printing yuge batches of USDT, this time around it is 300,000,000 USDT in one go.
Source: https://omniexplorer.info/tx/f3efac4b6203248fc06e2788b61e732319a6e596768f5240680f944780ff84f4

If Bitfinex starts pumping BTC then we know where this is going.

[kobo_eth]

Everytime new Tethers are printed (I wish I could know when this happens), it seems that the Bitcoin price is going down.
It has happened every-time recently, so all the rumors that BTC is kept artificially up bu the "created out of thin air Tethers" might actually be true

[Hueristic]

There seems to be alot of people that just don't understand what tether really is, I can't believe there are Morons that keep chanting wait till the USDT pump!

This really is good reading for anyone interested in Tether/USDT.

https://www.pastemagazine.com/articles/2018/01/a-primer-on-the-bitfinex-and-tether-subpoenas-that.html

http://www.tetherreport.com/

[Apekool]

If the rumors will be demonstrated, it will be another shot to cryptocurrency credibility.
However, when the system you manage - I'm not talking only about Tehter - starts to move hundreds of millions of dollars, and you don't have any kind of rules to respect or authority controlling you... well, I think that the temptation to cross the borders - in any sense - becomes very high.

The enormous false volume that moves around in circles each day in day out, the large proportion of fake coins/ico's, and Tether that is just still up and running...

as if the blockchain and crypto market are being used as some sort of testing ground.

[Apekool]

It's a bit odd.

Since people cannot cash out USDT to USD, every USDT that is bought with USD represents $1 that will never leave the crypto market.

So when buying USDT with USD, no real value is added to the cryptomarket, and yet when USDT would "cease to exist" 2.5 billion USD will be gone from the crypto market. How? Because of the deception in how value is being defined and calculated. If something cannot be traded for $1, then why would it be worth $1?