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By printing money to prop up the price, you accomplish 2 things. One is that you can sell your crypto for USD if you are a large holder. The second is that you
by seibelj 8y ago
By printing money to prop up the price, you accomplish 2 things. One is that you can sell your crypto for USD if you are a large holder. The second is that you can acquire crypto for free because you created dollars (tether) out of nothing, and hold for the long term.
- mkirklions 8y ago>The second is that you can acquire crypto for free because you created dollars If someone pays bitfinix for tether, what makes this 'created'? I dont use tether because it is fiat currency which is exactly why I bought Bitcoin- but I dont see the big deal either. Its easier than cashing out to USD. Is tether real or fake? Who knows, I only trust Bitcoin.
- Nursie 8y ago> If someone pays bitfinix for tether, what makes this 'created'? If someone pays actual USD for tether than that's how it's supposed to work - tether puts the USD in the bank, that person gets the tokens. However if someone wants USDT for their BTC (or whatever) and tether whip up a bunch of USDT to satisfy that, then they are creating an unbacked token to buy other crypto currency with, inflating the market. > Is tether real or fake? Who knows That's the problem, they claim transparency, audits and all sorts of other stuff, but they're lies. So nobody knows. But if it is all fake, then fake money could represent a large proportion of the money flowing into cryptocurrencies.