You are really getting desperate.
"Tether is kind of incompetent!"
When you accidentally increase your market cap by 5 BILLION dollars with a typo... that's more than "kind of" incompetent lol
Not to mention the fact that this PROVES what you've been calling a dumb theory for years now -- that they CAN and DO print tethers without backing. Keep on wading though the shit though buddy, it's fun to watch!
Only an idiot would think that they *can’t* create unbacked tokens. The point is that if they do, they do it at their peril, that’s the point. Anyway if your bringing up my username because you wanted to prove how butthurt you are about Tether again today, mission accomplished. This just proves I get to live rent free in your head :)
I brought up your username so that we can all watch you drown in your own shit. Thanks for the good show - try not to swallow!
> The point is that if they do, they do it at their peril, that’s the point.
There's no "if" about it, stupid. They just *actually* did it, to the tune of 5 billion dollars.
If Tether goes out of business, that’s actually good for me as a matter of personal benefit but anyway, USDT is still trading at a dollar, Tether still in business, etc etc. You’re declaring victory a little early bro. Keep your pants on.
your right, the people that believe Tether is good in any way are just sheep waiting to be slaughtered since all of the numeric "value" associated with BTC is all because of the Tether fraud
it's a good thing people here can see through that fraud (and were informed/saw through the Tether fraud long ago)
It's too bad they are prevented from seeing how dangerous Tether is in r/bitcoin
Tether may be fake and ready to collapse at any moment, but, I do not think they are the primary manipulation source for the BTC price. It is all manipulation and social engineering and they make massive use of Tether to spread their liquidity to their exchange-bot army. That said, I think the massive manipulation of much of crypto can be seen in the long term pattern and that ongoing manipulation pre-dates Tether. The manipulators and the creators of tether could be the same team or tether may be a tool (sub contractor) of the manipulators? I don't know.
Tether is designed to operate digitally like bitcoin but is pegged to the U.S. dollar so the price doesn’t fluctuate wildly. There is currently about $3.9 billion of Tether in circulation. About 60% of all bitcoin trading is done with Tether.
The error shows how easy it is to muck up the cryptocurrency market, a decade after bitcoin’s birth. It is the latest black mark for Tether Ltd., the company behind Tether. In April, the New York attorney general said the company used Tether’s dollar reserves to cover up $850 million in missing funds.
Hehe ironically [Powell did say](https://observer.com/2019/07/fed-chairman-jerome-powell-on-bitcoin-crypto-facebook-libra/)
"almost no one uses Bitcoin for payments. It’s a speculative store of value like gold"!
lol surely he is not stupid enough to believe it, I think he's parroting Hodl Bros. Which is somewhat frightening...