what if -->tether was actually 40 billion dollars in debt

[blandana]

what if tether is actually printing everytime someone takes some money out and theres some function in it's code that deletes a certain amount of tether after a lot of money is taken out.  And what if they use that as a "disguise" to keep the market cap stable so they can keep "manipulating" the market.

This actually could be happening.  Thought I'd post it if no one has considered it.

I think it's highly possible that tether could be in much more debt than just 1 or 2  billion dollars.

[bkbirge]

Don't really understand why anyone uses that coin, it combines the worst traits of fiat and crypto together with almost none of the benefits of either.

[blandana]

Don't really understand why anyone uses that coin, it combines the worst traits of fiat and crypto together with almost none of the benefits of either.

Personally I just want to delete it and replace it with some other coin that is not related to bitfinex/binance/bittrex.
It has had so many things wrong with it and lawsuits/etc
I wonder if the market would suddenly be different.
All you have to do is switch the letters to be honest as long as its not the same company.

[X-ray]

Im seeing a stable coin yesterday that called as USDQ and it has used bitcoin as a collateral system that will backed each USDQ pegged to the $1 value of bitcoin. This is something that makes sense compared with tether that always printing more and more money anytime.
I hope the market will realize it soon but this time we have enough proof if tether always try avoid any audit.

[blandana]

oh really x-ray USDQ.  i have never heard about that.  I will have to check it out, thanks for sharing.

[zacxavier]

what if tether is actually printing everytime someone takes some money out and theres some function in it's code that deletes a certain amount of tether after a lot of money is taken out.  And what if they use that as a "disguise" to keep the market cap stable so they can keep "manipulating" the market.

This actually could be happening.  Thought I'd post it if no one has considered it.

I think it's highly possible that tether could be in much more debt than just 1 or 2  billion dollars.

Makes sense but being a cryptocurrency, tether transactions are being recorded here https://omniexplorer.info/ which happens to be with any cryptocurrency. Maybe a licensed auditor could check previous transactions and find out. Till being said, this is still a mystery.

[sunsilk]

Don't really understand why anyone uses that coin, it combines the worst traits of fiat and crypto together with almost none of the benefits of either.

I never bought tether and the use of it is ideal for the day traders to make their portfolio save its worth during the rainy days.

I've planned to buy it before when I wasn't aware of what tether really is but after understanding its concepts and basics, it didn't came to my mind again to think of buying it.

[inoes]

I even have been suspicious since September 2017, when Tether published a memorandum from a public accounting firm explaining that Tethers was guaranteed with fiat money in US dollars. But Lewis Cohen, an independent lawyer, stated that the memo did not prove that Tether was guaranteed by dollars. besides that there are some documents that also do not prove whether the US dollar balance really exists, even on the contrary to burden Tether. So you should be careful with this controversial coin. But if it's limited to transactions I don't think it's okay because the value is stable.

[7788bitcoin]

what if tether is actually printing everytime someone takes some money out and theres some function in it's code that deletes a certain amount of tether after a lot of money is taken out.  And what if they use that as a "disguise" to keep the market cap stable so they can keep "manipulating" the market.
This actually could be happening.  Thought I'd post it if no one has considered it.
I think it's highly possible that tether could be in much more debt than just 1 or 2  billion dollars.

It is a known fact that Tether was printing money without any transparency and now they are dragged to the court for that and there are reports that 80% of the entire Tether is controlled by a small amount of users according to Bloomberg report and they are describing them as the Tether mafia and it is an alarming thing if 318 accounts control 80% of the total coins in circulation. We need a stable coin to trade but i will not trust Tether because of all these factors as you never know when everything comes down crashing.

[leea-1334]

what if tether is actually printing everytime someone takes some money out and theres some function in it's code that deletes a certain amount of tether after a lot of money is taken out.  And what if they use that as a "disguise" to keep the market cap stable so they can keep "manipulating" the market.

This actually could be happening.  Thought I'd post it if no one has considered it.

I think it's highly possible that tether could be in much more debt than just 1 or 2  billion dollars.

Conspiracy theories, but you cannot use a code to delete Tether in circulation because people would straightaway find out on the public blockchain,,, unless I am mistaken about Tether blockchain since I do not use it at all.

But to my understanding there are so many people looking at it every day they will discover immediately if something like this was going to happen.

[NeuroticFish]

what if tether

Since it has not proper 3rd party audit, absolutely anything is possible. And the problem is that since they avoided proper 3rd party audits, they clearly have something to hide.

[jacafbiz]

I don't think the people behind Tehter are really that stupid to allow their death profile to reach that level, though man is greedy which is difficult to vouch for them but with their current case with NYC they won't do that, if they have close to $40 billion debt then the price of BTC  would be close to $100k by now, we all know what affects Tether affect Crypto prices

[xenomorphe1]

Tether is backed with USD and cryptocurrencies like Bitcoin. How can it stay stable as there is a part of cryptocurrencies in its backing? It is a mystery for me. But it helps the trading and manipulation of cryptocurrencies.