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can you explain me the link between USDT and BTC ?
by alainchabat 6y ago
can you explain me the link between USDT and BTC ?
- nicolas_ 6y agoThe short version [0] and the long one [1] [0] https://kenkarlo.com/articles/the-scamming-of-tether-on-bitfinex-exchange https://kenkarlo.com/articles/the-scamming-of-tether-on-bitf... [1] https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/ https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/
- deleted 6y ago[deleted]
- itodd 6y agoUSDT is another "cryptocurrency". I put that in quotes as they can print it at their leisure. They claim to be backed by USD but have never been audited. The market cap grows by billions a month. BTC and USDT is a common trading pair on crypto exchanges. As a result, those behind USDT can print it and buy BTC to manipulate the price. Don't get me started on exchanges allowing you to trade with yourself. This field is tainted with shady practices.
- deleted 6y ago[deleted]
- mekster 6y agoHow hard? People are buying and selling tons of BTC with USDT and if it ends up being a fractional reserve and has been printing billions with nothing backing it up, how much of the BTC price might've come out of thin air?