16.52% of ETH volume in last 24 hours caused by USDT. Nothing to see here folks
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Poast new message in this thread
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Date: January 19th, 2018 5:10 PM Author: Mind-boggling school sneaky criminal
"I, and many others, suspect Tether is being used to effectively counterfeit hundreds of millions of dollars of perceived value, which are being immediately reinvested into Bitcoin to keep it from collapsing."
This is a bold thesis necessary to draw the conclusion that Tether is integral. What evidence is there to support this? Why should anyone give a shit about Tiny Tether?
it facilitates transfers and is an arbitrage tool some people use
(http://www.autoadmit.com/thread.php?thread_id=3864788&forum_id=2#35191584) |
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Date: January 19th, 2018 5:15 PM Author: Contagious trailer park
you can see how many hundreds of millions of dollars worth of tether were printed in the past few days: https://twitter.com/tetherprinter
the market has been noticeably jumping after many of these printing
you need to remember that the market cap of a crypto doesn't mean much because the liquidity *across the board* is so poor. a whale selling 5% of the market cap of any crypto would crash the price to near zero. so a hundred million dollars being pumped into crypto every day or two would have an enormously outsized impact on crypto market caps
(http://www.autoadmit.com/thread.php?thread_id=3864788&forum_id=2#35191632) |
Date: January 19th, 2018 5:42 PM Author: Avocado Boyish Den
It's probably arbitrage between exchanges. Lots of exchanges won't cash you out in dollars during high volatility, or even if you could get USD cashout, you couldn't move it from Exchange A to Exchange B (or BitFinex to GDAX) fast enough.
Since USDT has the virtually the same USD value on every exchange ($1.00 +- .01), a person can move USDT between exchanges for ETH/USD arbitrage.
(http://www.autoadmit.com/thread.php?thread_id=3864788&forum_id=2#35191799) |
Date: January 19th, 2018 5:53 PM Author: doobsian purple tanning salon fanboi
Bitfinex is printing Tether to increase trading volume on its platform in order to bring more users to the Bitfinex platform. If it works and Bitfinex becomes the go-to exchange then we'll probably be fine. If it doesn't, then we'll have a crypto holocaust.
It probably won't work.
(http://www.autoadmit.com/thread.php?thread_id=3864788&forum_id=2#35191892) |
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