To Crypto Recently Tanking
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warning: the website is aggravating as hell....pop-ups in your face and other distractions...it takes extreme concentration to be able to read the article. I did it so you don't have to bother
- Over the past several months, there’s been growing doubt as to whether or not Tether is actually backed by USD on a one-to-one basis. On its landing page, Tether writes that its ‘reserve holdings are published daily and subject to frequent professional audits. All tethers in circulation always match our reserves.’
and it continues in like manner for a while. Weasel words and mealy mouthing. They don't come right out and SAY that Tether is a Scam
Another article from a different publisher says much the same.
(this one is much easier to read..much less BS on it's page)
All Eyes on Tether Amid Crypto Pull Back
- The problem is that because one Tether token equals one dollar, it has been used to buy other cryptocurrencies because of its standardized value. This culminated in suggestions that the price of Bitcoin and other cryptocurrencies had been inflated because people had been buying cryptocurrencies with Tether and not actual US dollars. If Bitfinex does not have an equal reserve of dollars to back up the amount of Tether tokens in existence, things could end badly.
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things could end badly. no shit?
of course...all Steemers know this...
@trending has been posting for a long time.
Why Is the "FUD" regarding Bitfinex and Tether Pummeling the Entire Crypto Market?
Tether Quadruples Printing Press Speed, Prints $100 Million Per Day
More Bitfinex Ledger Problems..
My followers know this...
those who actually READ my posts
all five of you.
those who use 'autobot voters' ,
and those who only glance at the title...
have no clue.
If Tether is a scam I have a feeling it will bring down any exchange that uses it.
If you have anything in any of these exchanges that use Tether, you risk losing it all if they go down.
Thanks @everittdmickey
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not will...it has...but it's not the exchanges that took the hit. It was the entire crypto-sphere.
It lost half it's valuation in the last few days.
Half a trillion bux....poof
I imagine the Tether/Bitfinex guys are laughing their asses off.
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Laughing while hiding their tracks and evidence, and using their ill got gains to form shells that can be used later. Rinse and Repeat.
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Hope I'm wrong though ;)
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nope...
the question is will it WORK a second time.
a second question is.
how well have they covered their tracks?
Some of the people who have lost BILLIONS..
might not have a sense of humor.
can you say
'hitman'?
and concrete overshoes..
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If they're smart they will pay those people ;)
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too late I think
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nope...
the question is will it WORK a second time.
a second question is.
how well have they covered their tracks?
Some of the people who have lost BILLIONS..
might not have a sense of humor.
can you say
'hitman'?
and concrete overshoes..
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@everittdmickey I don’t know if it was tether FUD.. it all coincided with NYSE dips DOW VIX...
I don’t think tether FUD is priced in yet.
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that's bad.
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Haha I like what you put at the end only the people who read a post properly will know what's going on.
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ah...one of the few, the very few, who actually READ.
yup...you can observe a lot just by looking
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I have never used Tether, likely I never will. Do you think it has been used in such a big way by investors as to be in part responsible for the whole market crashing? I wonder how many people have used Tether for their crypto transactions. And who backs Tether? That I think is a good question, I am beginning to think these types of coins, hard forks and other unnecessary activities in the crypto world are actually weapons used by the same folks who don't like people having their hands in something that could be conducive to their economic freedom.
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I dunno if it was a CONSPIRACY...likely not.
was it a scam...yup I think so.
it wasn't so much that other folks used Tether...it's the fact that Tether diluted the value of ALL Bitcoin...and any other currency that was traded for it.
Tether was most likely NOT backed by anyone (or anything)
It was a big scam.
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I read your posts.. sometimes. So make it 6
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It has to be at least 12 not counting myself, I want to be number 13. I am sure there is someone that is telling everyone to buy buy buy tether, then when it starts to tank will tell them to hold hold hold, then when it tanks say it is just reaching a new bottom, don't panic don't panic, continue to hold. All the while raking in lots of funds. I hate crypto analist like him. And yes that is how I wanted to spell it.
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you mean that's NOT the way it's supposed to be spelled?
could have fooled me.
there's this thang called 'due diligence'
do it or reap the rewards of not doing so.
Some 'so called' crypto coins I would never buy
Tether is one.
Ripple is another.
I'm sure there are more. I have so little funds availble to invest that at this time I'm only into BitCoin, Bitcoin Cash, Ethereum and Lite.
All of which are from my rewards on Steemit....no Fiat goes in...only comes out.
That should be enough don't you think?
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I’m trying to play “catchup” and figure out what is what in the crypto game. I will keep your articles on speed dial ... thanks
@jeejee
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thanks
dirty little secret: we're ALL playing 'catchup' most self proclaimed experts...are just former drips under pressure. ...they don't know any more than we do...
crypto is FAST...it's rilly rilly HARD to ketchup
(heinz..huntz..kraft...trader joes...so MANY brands)
at all times keep Sturgeons Law in mind..
now go forth and ketchup.
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Oh my gravy, you caught my humor. LOL it isn’t always received well. Thanks for making me laugh 😂
I need some fries with that. Heheh
@jeejee
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some folks just don't have a sense of humour.
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That has not gone without notice. For crying out loud some folks need to loosen their noose.
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