Controversy around the Cryptocurrency Tether Abounds
Are Tether backed by U.S. Dollars?
How Do Tethers come into existence?
What is the Connection between Tether and Bitfinex
Tether? Bitcoin Pump Facilitator or Liquidity Lifeline for Bitfinex?
Watch the Video Commentary to “The Tether Controversy”
Watch also on Vidme below
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The Tether Controversy
Money Market For Cryptos or Crypto Fractional Reserve Banking?
Correlation between Bitcoin dips and rebounds and tether issuances
https://twitter.com/Bitfinexed/status/935426666117115904
.@Bitfinexed is the connection between BTC mkt drops/new tethers creation b/c sellers of BTC move into Tether and tether creates more?
— Smaulgld (@Smaulgld) November 28, 2017
Does Bitfinex own Tether, thus giving it built in liquidity?
When are Tether Issued?
https://twitter.com/BoomersAreEvil/status/935364680654110720
.@BoomersAreEvil 1. doesn't that explain why there have been more tether created immediately after BTC sell offs? If so & the tether are not
— Smaulgld (@Smaulgld) November 28, 2017
.@BoomersAreEvil 2.Backed that is a tether issue but not issue of creating tether to buy BTC but creating tether to match sell conversions
— Smaulgld (@Smaulgld) November 28, 2017
.@BoomersAreEvil 3.If so tether may not be backed-separate issue-but arent being created to BUY/PUMP BTC but to "back" BTC swaps into tether
— Smaulgld (@Smaulgld) November 28, 2017
.@Bitfinexed @BoomersAreEvil 4. This then would be a bitfinex liquidity issue/highlight they/other exchanges can handle high vols of sales
— Smaulgld (@Smaulgld) November 28, 2017
.@Bitfinexed @BoomersAreEvil 5. The bitfinex solution to lack of liquidity is to print tether-not to pump BTC but to boost liquidity
— Smaulgld (@Smaulgld) November 28, 2017
Tether as a Liquidity Facilitator
.@BoomersAreEvil @Bitfinexed to increase volume of trading, tethers are used b/c they dont have enough fiat capital so they print tether
— Smaulgld (@Smaulgld) November 28, 2017
.@BoomersAreEvil yes BTC conversion to fiat cant be realized in the real world in large amts, so its satisfied via creating tether
— Smaulgld (@Smaulgld) November 28, 2017
.@Bitfinexed @BoomersAreEvil 5. The bitfinex solution to lack of liquidity is to print tether-not to pump BTC but to boost liquidity
— Smaulgld (@Smaulgld) November 28, 2017
How do you cash in your crypto gains?
.@Annrhefn @Bitfinexed @BoomersAreEvil Tether has created an illusion of any liquidity in alt coins and inflated liquidity in BTC
— Smaulgld (@Smaulgld) November 28, 2017
.@Annrhefn @Bitfinexed @BoomersAreEvil an exchange imploding today is not an indictment of BTC but of improperly run exchanges
— Smaulgld (@Smaulgld) November 28, 2017
Bank runs were wake up calls and clearing up of fractional reserve practices in traditional banking.
A wake up call for crypto traders to not leave vast amounts of wealth on exchanges, maybe not too bad a thing in the long run.
— Annrhefn (@Annrhefn) November 28, 2017
You Tube Explaining the Tether Controversy by DataDash
https://t.co/Yrwv4CPuDW@Bitfinexed #TarAndTethered
— #CSigmaShow (@CSigmaShow) November 28, 2017
Top Bitcoin Exchanges Today %/Trades Tether
1.Bithumb
2.Bitfinex 7.18%
3.HitBTC 3.42
4.GDAX
5.bitflyer
6.Bittrex
7.Coinone
8.OKex
9.BTCC
10.Bitstamp
=34.8%
ONLY Bitfinex and HitBTC (10.6% of BTC volume) have Tether trading@Bitfinexed @Silver_Watchdog @Annrhefn @BoomersAreEvil— Smaulgld (@Smaulgld) November 28, 2017
Follow @Bitfinexed @BoomersAreEvil and @silverwatchdog on twitter
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