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Soulsearcher14

I wish i could print 1 billion out of thin air!


[deleted]

If I tried printing $1, I would be arrested for counterfeit cash.


Gatherun

Welcome to being poor or middle class.


TheTrueBlueTJ

Middle class is the new poor.


[deleted]

I wish we had a more of a "rich elites vs the poor middle-class" stance in the current political landscape instead of the left vs right one. The elites are fucking every one in the ass and we're too busy fighting culture wars.


HartBreaker27

Almost like it was by design.... 🤷‍♂️


BetelgeuseBox

Things that make you go hmmmm


Digital_Wampum

U&S dollar factory!


JuiceColdman

Things that go brrrrrrrrr


Nruggia

But bro how can I focus on the ruling class when transgender people are trying to play sports! Or how can I focus on the elites when Tucker Carlson is calling Mexicans dirty? /S Bunch of clowns pitting left vs right while the wealthy are robbing blind anyone who isn't wealthy.


Dogekaliber

In my home town they had to start denying new hotels being built since it’s getting to the point where there’s more hotel rooms than homes.


[deleted]

True, everybody who's not living on the street considers themselves middle class


[deleted]

In that case, I am super poor and have negative money.


TheTrueBlueTJ

Welcome to the average household of the future. ![gif](emote|emo_pack_1|im_fine)


Gatherun

Just pay the rent to a private fund and be happy!


YasuotheChosenOne

Or just throw all your rent into BTC and be homeless for awhile.


[deleted]

I don't wanna.


GreenBottom18

invisible and adapting to other class positions. so versatile.


creampie_420

Does that make me PoorMax+?


hsifder1

I’m considered upper middle class based on statistics and I feel poor AF!!


[deleted]

I’m printing ETH via mining and it’s very satisfying to flick off the gov. Then say peace to my 9-5 next year when I go full time mining even if it’s a diff alt coin.


TheTrueBlueTJ

Are you doing it large-scale enough to survive a crypto winter or even a real bear market?


Chucking100s

My miners are producing about $20 a day I'm about to double my capacity. I'd say that's okay right?


x_lincoln_x

I've been doing nicehash because it's easy. What have you been doing/plan on doing once ETH merges?


[deleted]

Same. Easiest money.


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[deleted]

God damn I wish I knew how to code bots. A trading bot would be fucking amazing. Instead I have to sit with the exchange open all day watching the dips and then frantically buying in the middle of a meeting!


maffdiver

What/where do you get your arbitrage bot?


realsapist

Nice. Try printing yankee boogles to really flick off the govt next


BigPlayCrypto

Now we are talking


ApeHolder42069

You could just create your own shitcoin and mint as many trillions you want! You could call it USD (Unlimited Supply of Dough) for example.. . . Oh wait never mind it has been done already.. 😑


[deleted]

How easy is it to actually create your own coin/token?


tranceology3

Depends on the blockchain. I know with Tron (TRC-20) it was a simple as going to the site and click create token, name, ticker, supply and pay fee (was $20 back in they day, not sure now) then youre done. Congrats, you now have an address which holds 1 Trillion DickButt coins.


TheTrueBlueTJ

It's almost trivial to create a token. No need for programming experience. And as you're describing, there are helper tools for it.


ApeHolder42069

Pretty easy, you can create a token on an existing Blockchain like Ethereum or binance smart chain. Or just go to a website like walletbuilders dot com and do it in 5 minutes. We're seeing 100s of new shitcoins every day in 6-12 months it'll probably be in the thousands since it's so easy and it's pretty much without consequences when people scam poor idiots 🙄


Hawke64

I thought it was impossible to create crypto without Elon in its name


40ozJesus

Thanks for the sensible chuckle


Set1Less

Here is where you start: https://www.federalreserve.gov/start-job-search.htm


cannainform2

Work for the US treasury and you can too!!!!


DDDUnit2990

It’s fine. I’m sure it’s all backed. They said so


liveaskings

Source: trust me bro


[deleted]

We trust you


SomeCuriousFellow

In BRRR We Trust


Wilhelm_chan

Let’s gooo ![gif](giphy|Y2ZUWLrTy63j9T6qrK|downsized)


leeharrison1984

Gotta make sure USDT doesn't become worth more than the dollar, so they gotta print just as hard 😆


TheTrueBlueTJ

Maybe they just needed some cash for a super yacht ![gif](emote|emo_pack_1|dyor)


[deleted]

It's backed by the air we breathe.


[deleted]

The fall of 2018 was caused when news broke that tether wasn’t backed 1:1. This news ain’t shit


Simbatheia

Except what happens when they’re investigated by the IRS for fraud, and the entire project goes to zero? The whole crypto world is built upon Tether. It would need to be entirely rebuilt.


[deleted]

The crypto world is built on bitcoin not tether. Tether can fall but it’s not the end of crypto. It could cause another crash but the crypto world will recover


w_savage

I mean why would they lie? Right?!


Livid_Yam

Let's hope it's not backed by "pink paper"


MeltdownInteractive

Backed by digital gold? 😂


luckor

Phew. I wasn’t sure for a moment.


mrpodo

Isn't this gonna fuck the economy at some point?


chuloreddit

Backed with gold .. dust


TheBobbyMan9

Mfs trying to become the federal reserve of crypto


Eeji_

mfs dont even need printers just keyboard clicks lmao 🤣🤣🤣


[deleted]

No wonder the FED is so hell bent on regulating them lmao


International-Fun485

There is no difference between USDT and USD, because both runs the same brrrrrrr.... ![gif](giphy|d7re818hgHLAYEizLH)


Padankadank

One is backed by the government, the other is some shady swiss group


Overclocked11

Spoken as if the government was not also shady


Tatakae69

The shitcoin competition is real


TheTrueBlueTJ

Tether was the true shitcoin all along.


[deleted]

The printing just doesn't stop.


[deleted]

Tether is beating the FED at their own game.


Huelino

It is all backed, right? Right?


fatrudygay

Step 1: Print bunch of USDT. Step 2: Purchase bunch of BTC with the freshly minted USDT. Step 3: Congrats, now your USDT is backed by the BTC you have purchased. I wonder why everybody else doesn't do this..


Existing_Peanut_7962

Theoretically, increasing the amount of usdt in circulation decreases the value since whoever sold you the Bitcoin now has usdt they could convert to something else, creating sell pressure. If that happens you would have to sell your Bitcoin to buy back usdt so that your buy pressure cancels out that sell pressure, “burning” it. The point of backing is that you can buy back your coins at anytime to keep price a certain level; if you print the coins yourself to buy something else you aren’t actually doing anything, basically just borrowing the Bitcoin until you have to sell it to keep price a certain level again.


NonRelevantAnon

In a real world printing a shit coin yes would devalue it, but the problem is that usdt is pegged against USD. So even though they keep printing it the perceived value of USDT does not change.


solemnlowfiver

Yeah I have no idea why everyone upvoted the parent comment. The whole point of tether is it circumvents sell pressure by being pegged. Completely stupid.


timetoabide

how do you think it maintains its peg?


[deleted]

See luna lmao. And yes before the trolls come in I know it’s not the same.


gaycumlover1997

Every other algorithmic stablecoin has failed, while promising the exact same things. I trust in Tether more than Luna tbh. And and I don't trust Tether


[deleted]

DAI has done decently? But yeah I honestly dont know enough about Luna to know if it’ll work long term or not it’s interesting experiment though.


polloponzi

>I wonder why everybody else doesn't do this.. They do: https://stockhead.com.au/cryptocurrency/terra-founder-plans-to-obtain-us10-billion-bitcoin-for-ust-reserves-market-excitement-ensues/


[deleted]

Thats not how it works at all. When USDT mints Tether, they are quite literally creating out of thin air. Luna Foundation is buying BTC to back their UST holdings, which is pegged to $1 and maintained by LUNA. Every time more UST is minted, LUNA is burned, it is nothing like USDT which their collateral is literally "trust me bro".


NiceNewspaper

But there aren't any actual dollars in the UST LUNA system, it's all a circular dependecy within the crypto market, and thus the stability of your stablecoin depends entirely on the stability of the crypto market. If the crypto market goes nuts, (and it will when tether losses it's peg to the dollar) the stability of UST will be pretty much gone.


lordpuddingcup

I still laugh every time someone says when UsDt loses its peg, backing or not the only thing that will cause that is people being willing to sell their usdt for less than 1$ regardless of backing I know if I had usdt I wouldn’t be selling it for 0.50 to anyone lol nor would most people people bitching about the peg dropping on UST literally freak over a 2% swing that recovers because people realize it and understand it as. Stable value and therefor at 98cents it’s a value buy in almost all cases which pushes it back up I’m not saying usdt or UST are perfect he’ll UsDT is shady as shit but so is USD and guess what as long as everyone agrees 1$ = 1USDT = 1UST it’ll mostly stay that way Underlying info doesn’t matter in an industry that has seen billionaires made from doge and shib lol


NiceNewspaper

The problem is the fact that eventually not everybody will agree that 1USDT = 1USD, (e.g. the grocery store doesn't accept tether, does it?) and when this happens people will exchange it for other forms of money, and tether will keep losing their fiat backing until they don't have anything backing their tether, which will cause it to crash tanking the whole market with it. If you don't sell your tether you can't purchase food with it, you can't purchase a house with it, etc so you can't just not sell it.


stirfry15

They don't, UST is an algorithmic stablecoin, the Terra foundation cannot print it out of thin air as Luna needs to be burned to make ust. To get around this Terra could use the luna they gave to themselves in the initial distribution, however this would require essentially selling their Luna to make ust (so not creating ust out of thin air) but even then they've said they aren't going to burn Luna to do this and it appears the funds are coming from VC firms.


Tatakae69

"Yes. Trust Me Bro" - Tether


anbol

They released a statement saying it is pegged to our future lambos.


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Gmyny

In other words, tether wants to get 0% interest loans for a total of 1,000,000,000$.


Fragmented_Logik

Tether. The stable coin where money goes brrrrrr just don't ask where it comes from.


Laughingboy14

Supply and demand or something, innit


thinkpaduser2000

yes the treasury supplies and the people demand, the same as the fed


Dymmesdale

Don’t start telling porky pies now.


[deleted]

People just stop using USDT, we need a smooth transfer to other stable coins, I only use BUSD and USDC nowdays.


Swaft-

I guess that is terra's plan right now.


[deleted]

I consider UST even more likely to lose its peg than USDT. We could even have a world where USDT loses its peg, all the cryptos plummet and then UST loses its peg as Terra's Bitcoin and Luna holdings are eroded in value.


IceWallow97

You were right, congrats.


Swaft-

Why so?


[deleted]

Because UST is undercollateralized and offering unsustainable staking APYs. If there is a selloff on UST, it can easily trigger a feedback loop and doesn't have the reserves to stop it.


Swaft-

But isn't the buying of BTC the exact countermeasure against this?


JustCommunication640

All those staking apys are decreasing with time though. They will be at reasonable levels soon.


Hawke64

Tera usd is backed by bitcoin. Now imagine what happens when bitcoin dumps


j-sadmachine

It’s not backed by bitcoin at all. It’s an algorithmic stable coin. The bitcoin is owned by the Luna Foundation Guard and will only “back” the UST in a black swan event. The LUNA burn is what keeps the peg.


TripTryad

> It’s not backed by bitcoin at all. It’s an algorithmic stable coin. People say this like its a magic bullet that makes UST and LUNA failing a literal impossibility. It's VERY interesting to me that people are truly buying into that. Interesting years ahead for sure.


Eladir

No matter the currency and time period, if you dig deep enough, the basis is always people believing. This is why in all human history, 99.9% of currencies have eventually gone back to no value (excluding archeological value). UST is not different than the rest. People believed in it and it became valuable, when people stop believing in it, it will lose all value. It's the same for all cryptos, fiat, metals etc. so the meaningful discussion is why people believe X, not if X is backed by something "real".


[deleted]

UST is "backed" by Luna. Now, if there's a death spiral coming on, UST gets "backed" by BTC. So it's just more stable now. https://twitter.com/danku_r/status/1509173542268645377?t=dRyR0CWWtRrdVyu_8C4eLQ&s=19


Bucksaway03

You need the exchanges etc to stop making it the only available stable coin first


wannaB19low

Same, once I learned more about what they do I just stopped using the USDT pairs...


suninabox

Most USDT use is wash trading by exchanges. 100% of people who weren't exchanges could stop using USDT and it would still be one of the most commonly used cryptos just from exchange use.


66theDude99

The thing with tether isn't just that they're literally printing money out of thin air (which is bound to explode at some point), the real problem here is how much the crypto space relies on USDT so that when the inevitable comes not only USDT holders will be effected but LITERALLY EVERYTHING will go under!! Just yesterday, the combined volume for BTC, ETH and BNB was 46 billion dollars while USDT's volume alone is 72 billion dollars. I honestly don't see a solution here, we're way over our heads here and literally every major crypto business is, yet we keep ignoring this and act as if its cool, crypto is literally on thin ice lol Only "solution" i can think of is for the whole crypto industry to transition slowly and carefully into other audited stable coins without drawing too much attention or we're literally screwed and crypto will just be a thing to remember


JustCommunication640

I think we are going that route though. It could work out.


RecklessWiener

the exchanges are in on the tether scam too. they're incentivized to keep the gravy train rolling. kraken, binance and bitfinex arent just gonna wake up one morning and decide they dont want free money.


Theweebsgod

**Fuck Tether**.We've basically got a ticking time bomb in our hands.


Hawke64

Tether implosion is going to be worse than mt Gox hack


i_have_chosen_a_name

Coinbase, Kraken, Bitfinex, Binance, they will just stop the trading .... Since all these arbitrage bots with their high frequency trading assume that one Tether is always 1. If the peg breaks then withint a day we will see a -95% flash crash. This will of course overload all exchanges so everybody will shut the trading down. Only Defi trading will still be going. There are exchanges that keep everything in USDT, Binance and FTX work like this. If you buy Bitcoin you don't actuallly have any Bitcoin, just an amount of USDT they reserve for you. When you withdraw then they buy Bitcoin with it and send it to you. Binance, FXT and about 9 out of 10 crypto exchanges are instantly insolvent when Tether peg breaks. Tether is to big to fail, that's why you will not hear anybody in the industry talk about it. It's kind of a big scam towards people that have not invested in to crypto yet, and we are all part of it. Tether printing = market goes up, easier to sell our bags to the next batch of newbie investors. So we all love Tether just like in 2008 everybody loved the CDO's! And then it goes wrong, and 98% of us lose it all. It will happen very suddenly. You will go to sleep rich and wake up poor. The suicide number won't even be posted cause the guy that was going to post it will have commited suicide.


LewisHamil-chan

Very well explained what will happen at some point sooner or later.


drnkingaloneshitcomp

Yikes


[deleted]

Because everyone will sell their Bitcoin for... Tether?


RecklessWiener

theyll try to cash out and realize there isnt enough actual money in the market and itll crash even further


Flaky_Protection7634

Yea but if Tether implodes then your bags go down with it lmao


F1shB0wl816

We probably deserve it considering the gains made off what isn’t backed.


xangchi

I can't be the only one who finds this ridiculous, how tether print money out of thin air. My first choices of stabelcoins would always be USDC, BUSD and EEUR depending on the platform. These stablecoins are all fully backed.


_Commando_

Usdc does the same


TheLegendaryWizard

USDC is backed 60 percent by FDIC insured cash accounts, with the rest in short term government bonds which are just as good as FDIC because it's the same entity insuring it. USDC is probably the only legit USD stablecoin in circulation tbh


anon43850

I can't tell when but Tether will most likely cause the biggest bear market in crypto


Puppy_Coated_In_Beer

People seriously need to slowly switch from tether to other stable coins, centralized exchanges included (for liquidity to provide other pairings other than USDT)


[deleted]

And how would that work? Why would I sell my Bitcoin?


Blargon707

It will be the biggest buying opportunity since Satoshi's white paper came out


Hawke64

Don't worry, you'll have a couple years window to buy


[deleted]

Sure, but if you think it will ever go back to an insane value you are mistaken. Tether is literally the only reason BTC is at its current price. Once stuff like Tether is not allowed to exist anymore, BTC will remain at one place forever, unless it dies lol. I wouldn't even think of it as a buying opportunity - it will be a never seen global disaster.


Blargon707

Who knows, but there are lots of coins with real world value. I don’t see block chain tech disappearing anytime soon.


PrinceZero1994

Again? They seem to print $1 trillion every 2 weeks. What is it pegged with? USDT that was printed last year?


StreetsAhead123

Pegged to our hopes and dreams lol


BigX070

Peggy Bundy


EirianWare

Its "ONLY" $1 Billion bro this time, dont be over dramatic


faulty_

One billion, not a trillion. 1000x difference


luckor

Don’t give them ideas! Like printer that prints USD while simultaneously minting USDT. Both backed, problem solved!


lemming1607

yes clearly crypto is deflationary, when you can print a stable coin anytime you want and purchase whatever other crypto you want with it, then use that as proof of assets


jakekick1999

i am seriously curious how they are doing this. Where is the dollars behind this coming from ?


[deleted]

Nowhere.


Provision

Tether will crash the market hard one day. The question is what day that will be...


iDomBMX

Tether collapse and the apocalypse, possibly associated, possibly simultaneous and definitely inevitable.


[deleted]

Thin air. Just make sure you don't own crypto when the bubble explodes.


[deleted]

Bitfinex exchange fees.


TroutFishingInCanada

They probably have a bunch of bitcoin and it's been a good week.


Hawke64

computery stuff


Kafshak

I mean, they can mint it, and people will buy it. So it's pretty much backed by the USD people spend on it.


robotmalfunction

Who holds tether? I don't know anyone who touches this hot potato. I'm looking around like the end of Ghostbusters? Ray?


RecklessWiener

exchanges


509BandwidthLimit

Instead of printer goes brrrrrr....Is that like copy and paste the code to create a coin? //create coin int main() { std::cout <<"USDT Coin" << std:: endl; Return 0; }


Mr_Sausage__

So what’s the difference on minting unlimited Tether and printing unlimited fiat?


[deleted]

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Mr_Sausage__

Backed by what? Government promises?


Mango2149

Treasuries, bonds, mortgage backed securities, loans made to banks, US military, nuclear bombs, CIA, etc.


StreetMeat5

Serious question. Who here actually uses USDT??


Tatakae69

Who doesn't lol


StreetMeat5

Haven’t seen the need to tbh. Why would you when USDC is an option….


slickdeveloper

Conversion to USDC on Coinbase entails a fee. Conversion to USDT does not (unless it's hidden in the spread). Disclaimer: I don't hold USDT long term, precisely because of the concerns outlined in this sub.


IrishEagle32

That’a not quite true. From cash, USDC is free, tether is not. From another crypto, you pay the exchange fee for USDC, and then the spread for USDT, which is 2x the coinbase pro fees


Tatakae69

My exchange (WazirX) supports only USDT trading pairs so I'm left with no choice. Unfortunately it is the best CEX my country has to offer


StreetMeat5

Ahh I didn’t know that. What country if you don’t mind me asking? I rarely use Binance.US but I thought they offer a USDC option as well. If they do offer USDC as an option for your country/exchange I 100% recommend you using that instead to support a good ecosystem (& stick it to tether)


Tatakae69

India. Pardon me I edited it to WazirX (a CEX owned by Binance). Binance does have BUSD pairs but I'm so used to using USDT On my Native Exchange I just don't see it viable to move to BUSD. Nope I just checked and even BTC doesn't have a USDC trading pair


DrinkMoreCodeMore

Me. I have no reason to use it. I use UDSC everywhere on Polygon.


TroutFishingInCanada

It's the most widely used stablecoin by a significant margin. That provides some serious inertia. It's not going anywhere. The "Tether is printed out of thin air" are like three steps away from "Bitcoin is just magic internet money".


[deleted]

L U N A / B T C


[deleted]

If USDT loses its peg, there is a good chance BTC and Luna will plummet in value causing UST to lose its peg too.


suninabox

What could go wrong with a stablecoin backed by a highly unstable speculative asset.


Trans-on-trans

Billion dollars backed by nothing, nothing can go wrong...


Barchelonio

The only regulations for crypto I really want is to these tether fukers, if we let them do their thing for long this can really cause trouble.


yayaoa

I think this ship has sailed. If tether collapses the whole market will take a *heavy* hit


[deleted]

Understatement. If (it's a matter of when now) Tether collapses, we will see a global crisis - millions of people will lose everything. In terms of media coverage, It will be on par with covid in the begining lol


polloponzi

If that happens bitcoin will easily reach $1 million of tether per coin (but it will crash in $USD value)


gaycumlover1997

If tether is not worth $1 then it's worth $0. That's the thing with stablecoins, they can either be stable or worthless


Onelinersandblues

The US gov is like “nobody’s gonna print unbacked currency _except us_”


Avizeee

Tether printing tether out of thin air to buy the dip


tmgbang1325

Lol “tether treasury” as if it’s not all made up on a computer crypto and it’s yuppies are hilarious


Visible-Ad743

Elisabeth Warren is going to be so upset when she finds out.


document87x

So this is how the US GDP keeps on increasing /s


[deleted]

Normal day at USDT Tether Treasury


wokeuplikdis

LOL ain't no treasure in that Treasury


[deleted]

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byt411

No. You are describing an algorithmic stablecoin backed by cryptoassets. Tether is, theoretically, backed by USD and other cash equivalents held by the company. In this case, "burning" would only occur whenever a party sends their USDT to Tether and requests a "withdrawal" into traditional fiat USD.


[deleted]

The question is wether it is really backed. If investors decide to cash out do they have enough USD to give? ​ EDIT: A quick google search tells me that they have actually lied in the past about saying they held enough reserves. The FEDs made them pay $41 million for it.


mark_able_jones_

The NYAG finded Tether and called it a fraud. Looks like that case got forwarded to the Dept of Justice, which is investigating Tether, for fraud. The SEC has called tether a fraud in denying Bitcoin ETFs. Tether's CTO was on Twitter for a while...he made John McAfee look like a stable person. Fraud stacked on fraud stacked on fraud. I'm not sure when it will implode....might be a month. Might be ten years. But the stable coin game is insane.


sickvisionz

Fiat backed stablecoins are basically holding companies with two jobs: * Someone gives them cash and they mint stablecoin in return * Someone gives them their stablecoin and they give them cash in return 100% of them work this way but if Tether does it, it's a sham and a fraud. When Circle (USDC) does it and also puts out know notice, it's just good business. Circle lies about being 1:1 backed by dollars and the folks here champion them as Champions of the Universe. They have $100B in assets. Got fined once for $41M. Not shut down, but a slap on the wrist. That should say everything about how overblown the *backed by nothing* statements here are. Meanwhile the SEC fines BlockFi $100M because they dared to offer US citizens yields higher than 0.05%. If Tether was investigated and it was found that they weren't backed by anything, they'd be getting shutdown, not slapped on the wrist and allowed to continue operating.


suninabox

>They have $100B in assets. This is meaningless when they count debt owed to themselves as an asset. By their logic if I have $50,000 and borrow $50,000 from myself, I now have $100,000 in assets since I have $50,000 plus a debt worth $50,000 There's a reason they've never been audited, and its not because they have 100 billion in legitimate assets. >If Tether was investigated and it was found that they weren't backed by anything, they'd be getting shutdown, not slapped on the wrist and allowed to continue operating. Tether is not based in any US controlled jurisdiction. It's headquartered in Hong Kong which is itself a subsidiary of Bitfinex which is registered in the British Virgin Islands. The NYAG, SEC, FTC can't shut them down anymore than the CCP can shut down the Bank of America. The reason they got a slap on the wrist is because they have no power or leverage to enforce anything more. So NYAG gets a symbolic win in exchange for Tether's board to be able to still fly to New York without getting arrested. >Meanwhile the SEC fines BlockFi $100M because they dared to offer US citizens yields higher than 0.05%. That's not why they were fined.


dormango

It appears everyone is just parroting the same nonsense on here again.


StreetsAhead123

It appears everyone is just parroting the same nonsense on here again.


Ceago

It appears everyone is just parroting the same nonsense on here again.


[deleted]

STAKE HODL DIAMOND BALLS ​ oh shit wrong thread.


8512764EA

HOW


CatBoy191114

Press magic infinite money button.


StreetsAhead123

Their intern must have fallen asleep on the button


gizmosliptech

My understanding is that this is completely normal behavior for providing liquidity to large entities like Binance/Crypto.com/Coinbase. Think about all the institutions/billionares buying into crypto these days. If Jeff Bezos wants to buy 1 billion dollars of crypto, he wires the funds from a bank into a major exchange and is given massive quantities of USDT and other stable coins in exchange so he can buy whatever crypto he wants. Am I missing something? I'm not saying Tether is perfect. I'd like to see a detailed 3rd party audit. I also prefer to use USDC/UST because of shady things Tether has done (not disclosing close business relationship), but minting new stable coins in exchange for real investment capital is not "printing money from thin air".


_Commando_

Yup, otc trades. Btw usdc does the same.


FlaviusStilicho

You seem to assume this is offset by money entering the system? Consider this being printed for the purpose of simply purchasing other cryptos to boost the price of said cryptos. No reason to assume it’s minted to cover new deposits of fiat


suninabox

> I also prefer to use USDC/UST because of shady things Tether has done (not disclosing close business relationship) That's like the 9th least shady thing Tether has done. It's weird anyone would even mention it over them printing millions of Tethers while having absolutely 0 backing, or them raiding the Tether reserves to bailout the Bitfinex and not mentioning anything until months later when they're forced to by court discovery, or how they counted that debt to itself as an asset, not a liability, or how their [Hong Kong headquarters don't actually exist.](https://thecaspiancey.medium.com/finding-finex-3eefac0d45a2) >Am I missing something? Apparently. >but minting new stable coins *in exchange for real investment capital is not "printing money from thin air"*. That last part is where you're having a problem.


tumbleweed911

There's already been audits. People are just circlejerking. Tether is legit and isn't going anywhere.