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Author Topic: Tether pumping BTC  (Read 323 times)
CryptoFiction
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November 13, 2017, 07:47:49 PM
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Anytime a BCH or altcoin rally gets started, Tether pumps Bitstamp and Bitfinex with gobs of their artificial USDT's. Check out this article and also the timing of the BTC pumps in the last 24 hours.

https://coinreport.net/tethered-to-reality/
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dogot
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November 13, 2017, 07:56:54 PM
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I am a newby to crypto, but seems like people here don't like to talk about tether rumors.

Before i know about Tether i never thought that bitcoin could be a bubble, now i think it may be.
chefcryptoshark
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November 13, 2017, 08:00:01 PM
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So the article addressed Bitfinex, but is it the same unit that is traded on Bittrex, or do they have their own "secret recipe" for having a "verifiable mountain of money to protect assets'?
Sanglotslongs2
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November 13, 2017, 08:05:25 PM
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What is wrong with tether ? It's a good way to allo pseudo-fiat trading for altcoin exchange which doesn't have the right too. Every Tether is backed by USB and you can withdrawal your tether easier than fiat. It's a respond to a real need. You can't be a cryptotrader with a lot of movement in your bank account. Tether allow you to do this.

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November 13, 2017, 08:13:28 PM
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Tether is now playing on the high leagues, i have been looking at this for more than days, and they are doing it by the wrong way.
They were just a project to be the "fiat" of the cryptocurrencies, but they are now playing like a big boss, maybe it is a good thing, but it is not upto them, they can not just stop that rally.
And in the moment that they touch 900 million dollars of marketcap, that coin is going to collapse, i dont know what is going to happen, but there is no way that they can "print" or just release more tethers (usdt)

dogot
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November 13, 2017, 08:17:44 PM
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What is wrong with tether ? It's a good way to allo pseudo-fiat trading for altcoin exchange which doesn't have the right too. Every Tether is backed by USB and you can withdrawal your tether easier than fiat. It's a respond to a real need. You can't be a cryptotrader with a lot of movement in your bank account. Tether allow you to do this.
Maybe i don't get it. Are you serious when you have said that every Tether is backed by USD?
Despacito
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November 13, 2017, 08:20:28 PM
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Tether is now playing on the high leagues, i have been looking at this for more than days, and they are doing it by the wrong way.
They were just a project to be the "fiat" of the cryptocurrencies, but they are now playing like a big boss, maybe it is a good thing, but it is not upto them, they can not just stop that rally.
And in the moment that they touch 900 million dollars of marketcap, that coin is going to collapse, i dont know what is going to happen, but there is no way that they can "print" or just release more tethers (usdt)


If they pump bitcoin cash artificially, then Bitfinex can take the Tether intervention into consideration. We can't oppose this action. They play with bitcoin cash, then bitcoin's players can play with bitcoin too.

Some BCH fans thought bitcoin is vulnerable to BCH attack and there is no group/person behind bitcoin to back it up. But they're wrong as seen.

As long they back that tether with usd, there won't be any problems.
CryptoFiction
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November 13, 2017, 08:25:34 PM
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What is wrong with tether ? It's a good way to allo pseudo-fiat trading for altcoin exchange which doesn't have the right too. Every Tether is backed by USB and you can withdrawal your tether easier than fiat. It's a respond to a real need. You can't be a cryptotrader with a lot of movement in your bank account. Tether allow you to do this.

According to the article posted, USDT's are not backed by USD's.
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November 13, 2017, 08:55:10 PM
 #9

Yes there are probably some serious rumors about Tether. First its not backed by real USD. Their website says itsn't. Also there were some strange movements with it, their supply increased greatly. And bitcoin pump has followed.
I don't know its right or wrong but rumors seem bad.

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November 13, 2017, 09:24:52 PM
 #10

this is an interesting read.
but i think that it is not saver store "read" USD on kraken or bitstamp. the problem is that i takes to long to deposit and withdraw "real" dollars.

and does the author want to bring down the price of USDT because i wants to buy them, just because he knows the value will go up to 1 USD when the dust settled?

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Antikais
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November 13, 2017, 09:30:14 PM
 #11

I am a newby to crypto, but seems like people here don't like to talk about tether rumors.

Before i know about Tether i never thought that bitcoin could be a bubble, now i think it may be.

i think exactly same. noone talks about Tether. if bitcoin will fail it's gonna be because of tether. and noone cares this..

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Jack353
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November 13, 2017, 09:37:10 PM
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What is wrong with tether ? It's a good way to allo pseudo-fiat trading for altcoin exchange which doesn't have the right too. Every Tether is backed by USB and you can withdrawal your tether easier than fiat. It's a respond to a real need. You can't be a cryptotrader with a lot of movement in your bank account. Tether allow you to do this.
Maybe i don't get it. Are you serious when you have said that every Tether is backed by USD?

Sort of, every tether is not literally backed by paper USD, but the currency is inflated and deflated so that each tether is worth $1. This is done by pinning the amount of total tether to its market cap in USD. For example, if the market cap of tether rises from $15 to $20, then the total amount of tether will increase from 15 coins to 20 coins (making each coin worth $1). In short, the price of tether will always be $1 (as long as the devs stay on-top of things).

Good luck and stay safe! Tongue

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william8829
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November 13, 2017, 10:17:43 PM
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What is wrong with tether ? It's a good way to allo pseudo-fiat trading for altcoin exchange which doesn't have the right too. Every Tether is backed by USB and you can withdrawal your tether easier than fiat. It's a respond to a real need. You can't be a cryptotrader with a lot of movement in your bank account. Tether allow you to do this.
Maybe i don't get it. Are you serious when you have said that every Tether is backed by USD?

Sort of, every tether is not literally backed by paper USD, but the currency is inflated and deflated so that each tether is worth $1. This is done by pinning the amount of total tether to its market cap in USD. For example, if the market cap of tether rises from $15 to $20, then the total amount of tether will increase from 15 coins to 20 coins (making each coin worth $1). In short, the price of tether will always be $1 (as long as the devs stay on-top of things).

Good luck and stay safe! Tongue

In theory...In real world practice Tethers price has gone as low as $0.91 and as high as $1.06.  These price swings occur during dips and rallys of high volume crptocurreny.
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