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In light of the renewed wave of Tether "FUD", I hereby present you with the anti-tether FUD toolkit.
Won't debunk the conspiracy theory every time someone new writes rehashes it. Just refer to these sources for a better understanding on the subject:
#1 https://podcasts.apple.com/us/podcast/dan-matuszewski-cms-holdings/id1480586463?i=1000458434762
#2 https://medium.com/hackernoon/king-tether-dethroned-36c37e3ed5bb
#3 https://medium.com/@alexkruger/bitcoin-tether-manipulation-2976f303cd47
#1 https://podcasts.apple.com/us/podcast/dan-matuszewski-cms-holdings/id1480586463?i=1000458434762
#2 https://medium.com/hackernoon/king-tether-dethroned-36c37e3ed5bb
#3 https://medium.com/@alexkruger/bitcoin-tether-manipulation-2976f303cd47
Tether is not under investigation for "pumping bitcoin" or "printing fake dollars" but for fraud committed by making untrue claims about reserves backing tether. All in here https://twitter.com/krugermacro/status/1347433159353389058?s=20
https://twitter.com/krugermacro/status/1347433159353389058?s=20
I've been sent this article on tether nine times in the last day. The argument is unsound and shows very poor understanding of crypto and markets. https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3
Now think. When prices fall, traders buy the dip.
How?
With cash.
So when prices crash, it is natural for dollars and tethers to enter the system. The more stablecoins in the system, the better for prices. This represents basic market mechanics.
How?
With cash.
So when prices crash, it is natural for dollars and tethers to enter the system. The more stablecoins in the system, the better for prices. This represents basic market mechanics.
Panicking about bitcoin exhibiting a relationship with tether is similar to panicking about the relationship between clouds in the sky and temperature.
See, the presence of clouds is supposed to lower temperature. This is normal. Don't panic.
See, the presence of clouds is supposed to lower temperature. This is normal. Don't panic.
"Combinations like that shouldn’t add up to perfectly round numbers every time."
Wrong.
Tether issues in batches, in anticipation of deposits.
Wrong.
Tether issues in batches, in anticipation of deposits.
For the record I'm not in any way related to Tether nor ever have been. Tether has done a serious faux pas with reserves in the past (linked in the thread). That's why it is under investigation, and they will likely pay for it. But ...
a) most of the anti-tether arguments making people panic are nonsensical and stem from a very poor grasp of reality (most, not all)
and
b) odds of Tether bringing bitcoin down are close to zero.
This is what matters.
and
b) odds of Tether bringing bitcoin down are close to zero.
This is what matters.
