SilverCoin300 (OP)
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January 20, 2018, 05:23:35 PM |
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Why has the supply increased by so much? Who is making the decision to increase the supply? It was just a 100 million a couple months ago. How is it 1.6 billion now?
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madtea
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January 20, 2018, 05:38:28 PM |
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Thx for sharing. I've had my doubts about the btc pumps correlated with USD tether generated out of the blue prior to each pump. This would destroy btc but more important: Losing faith in crypto in general.
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SilverCoin300 (OP)
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January 20, 2018, 05:44:17 PM |
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Thx. It helps to explain. |
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cryptocrusher
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January 20, 2018, 05:47:20 PM |
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Thx for sharing. I've had my doubts about the btc pumps correlated with USD tether generated out of the blue prior to each pump. This would destroy btc but more important: Losing faith in crypto in general.
How would an increase in Tether influence the price of bitcoin in any way? Unless you're considering usdt to usd but even then, as long as supply increases in line with demand then there won't even be any real change there. Tether can grow as much as the crypto industry grows. |
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Tubsie
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January 20, 2018, 05:54:05 PM |
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Yes i hear a lot the last few days about tether, and it certainly looks like a scam.
Didnt they stop allowing customers from the usa?
To me That looks bad already since they are dealing with Us Dollars.
I thought it was only a placeholder for usd tho, why are they allowing bitcoin to be bought with tether then?
And how can we stop this from happening because indeed it feels like they want to crash the crypto market again.
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Durr_1412
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January 20, 2018, 05:54:59 PM |
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It shouldn't be surprised.
USDT has it fixed price. However, the market is so huge for that, they must go this step.
Welcome to the crypto.
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huzurkan
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January 20, 2018, 05:55:15 PM |
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Bitfinex tether succeeded as money entered the market. usdt and usd are actually the same thing. The reason for the increase of the USDT is the increase of the market cap.
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TimtheYoutuber
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www.positivebetting.com
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January 20, 2018, 05:56:59 PM |
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Thx for sharing. I've had my doubts about the btc pumps correlated with USD tether generated out of the blue prior to each pump. This would destroy btc but more important: Losing faith in crypto in general.
How would an increase in Tether influence the price of bitcoin in any way? Unless you're considering usdt to usd but even then, as long as supply increases in line with demand then there won't even be any real change there. Tether can grow as much as the crypto industry grows. If random tether it created, bitcoin can be purchased to drive the price back up. This is a main concern that is around the market with the recent drop and then sudden rebuy of bitcoin. When tether is randomly printing tokens, its "USD" backing is then not stable since it wont be able to afford to pay everyone out. Its not a good situation. |
Positivebetting
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celtic99
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January 20, 2018, 05:57:52 PM |
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Tethere does not have the usd to back up the same amount of tether. This will end in disaster.
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ImHash
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January 20, 2018, 06:10:52 PM |
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If you have an exchanging service you could make something like tether and have it under your own control, Tether is an altcoin, Other exchanges have their own altcoins. You can't pay for something anywhere with it, You are free to buy them but you are not free to mine them, Centralized altcoin.
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uszaty43
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January 20, 2018, 06:12:53 PM |
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That is money coming from the air, and it will crash at some point but no one knows when. Do not move your money to Tether, do not even think about that because it can go to zero, and you will lose all your money. Why has the supply increased by so much? Who is making the decision to increase the supply? It was just a 100 million a couple months ago. How is it 1.6 billion now?
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TwSeventh
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January 20, 2018, 06:17:40 PM |
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Bitfinex tether succeeded as money entered the market. usdt and usd are actually the same thing. The reason for the increase of the USDT is the increase of the market cap.
are you kidding me ? USDT and USD are the same thing ? no it's totally different, USD is a real currency and we're using it daily in our life. and USDT is a crap,nothing more than that. do you even know that they get hacked by people a few weeks ago ? and because of that they're trying to find a solution to recover it. (which is i believe it's the solution) |
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SilverCoin300 (OP)
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January 20, 2018, 06:23:44 PM |
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Tether is not backed by anything then. Wouldnt this everntually take down Bitfinex?
No. I am not invested in Tether. I was just really curious about it's supply.
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Fakayode1
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January 20, 2018, 06:35:10 PM |
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That is money coming from the air, and it will crash at some point but no one knows when. Do not move your money to Tether, do not even think about that because it can go to zero, and you will lose all your money. Why has the supply increased by so much? Who is making the decision to increase the supply? It was just a 100 million a couple months ago. How is it 1.6 billion now? I am not bordered with the supply but i am always wondering why the coin stays at $1 most of the time or just move a little below it.
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KingScorpio
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January 20, 2018, 06:37:47 PM |
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Why has the supply increased by so much? Who is making the decision to increase the supply? It was just a 100 million a couple months ago. How is it 1.6 billion now?
the market is out of mind for trusting this 3 people LTD 1.6 billion USD and storing those USD on 2 asian banks |
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Davidbugs2
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January 20, 2018, 06:44:27 PM |
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Tether is one of the most suspicious coin at the moment, I highly recommend you not to buy Tether.
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The One Who Knocks
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January 20, 2018, 06:48:54 PM |
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I really hope that they have the liquidity that they state atm with the current supply that is around atm. If this breaks, the whole market will go down with it. Or at least, partially. I'm hoping that a audit is made upon their accounts, but so far I believe only one was made, and the results weren't shared. You can get up to date with the USDT printing that the company makes, this week has been just amazing : https://twitter.com/tetherprinterHoping for the best! |
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Rkoshay
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January 20, 2018, 06:54:27 PM |
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I was watching the recent plunge in all the altcoins that were following the similar drop that bitcoin was experiencing and was struck by the realization that there wasn't a coin or token to trade to as they all were falling. This is where tether seems to have a practical purpose as that price stayed relatively stable during the recent crash. What I found surprising is how they could accommodate so many transactions as it's apparent a lot of coins were being traded for tether pushing up the market cap so much.
I'm not an advocate for tether, I know enough to know that I don't know enough about the world of crypto currency to make any such judgement, just giving my observations in the hope of learning more and gaining competency.
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alyssa85
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CryptoTalk.Org - Get Paid for every Post!
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January 22, 2018, 10:35:11 PM |
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Looks like Tether won't do their audit: https://archive.is/UBYoTWhen asked the relations between Tether and Bitfinex, Giancarlo said:
“Bitfinex is holding less than 10% of Tether’s share, which have been acquired by various companies. Therefore Tether doesn’t belong to any single platform. It’s an independent company.”
He also explained why the third-party audit was missing:
“Due to the pressure from US banking industry, we are not in a position to fully disclose our bank accounts. Therefore if possible, I hope you can help us deliver the right message to everyone and I will invite you to review our accounts, you will be able to witness our truthfulness and safety.” People are going to have to take it on faith that they actually have the USD backing it... |
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