Tether report

[shibaji]

Has anyone seen this report that expresses concern over Tether / BTC correlation: http://www.tetherreport.com/ - what is your take on this?

Here is relevant portion:

Author
The report’s author will be referred to as - 32E3690D50B3B477DF7841212D4BB938DC9CDB50307618328E7F8B53F37CC1E2
The author is concerned about backlash and has asked to remain pseudonymous by signing this report with a public hash of their name. 
Sometimes people express views and opinions that are not popular.  A pseudonymous hash signature enables an author to share such views and opinions without facing personal backlash.
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Summary
Author’s opinion - it is highly unlikely that Tether is growing through any organic business process, rather that they are printing in response to market conditions.
Tether printing moves the market appreciably; 48.8% of BTC’s price rise in the period studied occurred in the two-hour periods following the arrival of 91 different Tether grants to the Bitfinex wallet.
Bitfinex withdrawal/deposit statistics are unusual and would give rise to further scrutiny in a typical accounting environment.
If there is questionable activity, the author believes a 30-80% reduction in BTC price could be forecast.

[yo_mama]

Damn.
The only things I'm concerned about, are when the government will decide to investigate Tether, and what degree the cryptocurrency market will crash because of it.

[muf18]

I kinda want, market to crash.
Not for people to lose money - but for the sanity of it.
Long-term growth, can't be pumped instantly making everyone, and their dog rich, just because it works (with almost 0 market adoption).
Unregulated market is causing, that a lot of pumpers out there, are pumping a lot of coins. And tether being the ultimate pumper.
I just hope that, pumpers will be punished, for their abusive market practices, and a free market could decide on their own.

[lolchina]

Never liked tether as i saw it as a way to bypass kyc and money laundering laws in usa but then creators realised that they can influence the market buy pushing it out more when needed.There is no way that tether is backed buy dollar as close to 1 billion usdt came in to play in last 2 week when market was bleading but not in december when everything was up like crazy....

[Wondervhel]

I kinda want, market to crash.
Not for people to lose money - but for the sanity of it.
Long-term growth, can't be pumped instantly making everyone, and their dog rich, just because it works (with almost 0 market adoption).
Unregulated market is causing, that a lot of pumpers out there, are pumping a lot of coins. And tether being the ultimate pumper.
I just hope that, pumpers will be punished, for their abusive market practices, and a free market could decide on their own.

I agree with you my friend and I would give you one merit for that thought, but I don't have one.

[adam1230]

Damn.
The only things I'm concerned about, are when the government will decide to investigate Tether, and what degree the cryptocurrency market will crash because of it.

I am waiting the exact thing. Meanwhile i am wondering why big exchanges still use tether? this is really annoying and building anxiety for every crypto investor.

[thepo1m]

Thanks for bringing this up, there is no doubt there is something wrong with Bitfinex, it is just a matter of time Government will tell them to open up their books, my main worry is that this could bring the whole market down for a significant period of time

[trash321]

Anyway, I think that this project, despite its reports, is hiding something from us, for some reason I think that things are not as simple as they say to us, so I say so, if they painted everything and told in which banks their money lies and that banks do not prohibit them from buying and selling USDT for USD.

[jacaf01]

Tether need to be more transparent with their dealings, I think is possible for Bitfinex to have such funds in bank, because I read that some one of these Korean exchanges made profit of $300 million last year, that is very huge

[shibaji]

Tether need to be more transparent with their dealings, I think is possible for Bitfinex to have such funds in bank, because I read that some one of these Korean exchanges made profit of $300 million last year, that is very huge

Could you please elaborate more on the issue here. I thought the promise of tether is good, and provides stability to trading. Maybe I did not understand the flaw here. I was surprised by the report, and any input certainly helps.

[IgorShumilo]

Theres a need, otherwise how to keep your investment portfolio in a period of decline? But I do not think that when the state bodies turn their attention to it, something bad will happen. You will first try to withdraw money through Tazor into dollars and you will not find it easy, as it is necessary to completely pass through verification and this will mean that you will be known and you will have to pay taxes, which means that the state is OK!

[followmenot]

I don't really trust Tether's business partner, basically bitfinex but I also think that Tether doesn't really pump prices. It is people that demands high amount of Tether to cut losses or net profits.

[shibaji]

I don't really trust Tether's business partner, basically bitfinex but I also think that Tether doesn't really pump prices. It is people that demands high amount of Tether to cut losses or net profits.

Correct. Something like tether provides a neutral ground and shelter from wild crypto swings, if one wants that at times. I do not see anything else that can be done. Of course a control over that is troubling (bitfinex), and if the controlling authority goes down, so does tether.