Discussion - USDT / tether / cryptoCrash / artificial inflation

in bitcoin •  7 years ago  (edited)

It's recently come to my attention that a couple of things are happening:

  • Tether has been minting hundreds of millions of USDT every week
  • Tether have been spending the fresh USDT on Bitfenix to buy Bitcoin, which has been artificially driving up the price
  • It is unclear as to whether Tether have an actual USD to back every USDT
  • Lots of exchanges use USDT

My questions to steemit:

Is this a bubble and if so, how bad will it pop?

If Bitfenix/USDT goes down, will it affect other exchanges?

Will certain altcoins/exchanges be exempt from a crash?

bitcoin cryptocurrency tether money crypto
7 years ago by

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      ·  7 years ago 

    No one really knows if tether is safe anymore, it is very confusing

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        ·  7 years ago 

      True, but it would be interesting to hear some peoples opinions on the matter. Especially from a 'cryptoanalyst' such as yourself?

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          ·  7 years ago 

        Sisygoboom, if you understood what an analyst was you would realize it has nothing to do with USDT. Please.

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          [-]
            ·  7 years ago 

          I understand there's two types of crypto analysts:

          • Those who understand the world of crypto and do research into how real world events, trends, community and technology affect crypto.
          • Those who draw triangles on candlestick graphs.

          USDT has everything to do with cryptoanalysis. If you're gonna promote your channel on my post, at least leave an upvote.

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            [-]
              ·  7 years ago (edited)

            good conclusion

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