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Should we talk about tethers and the fraud they are causing by inflating prices?

I'm loving how much money I'm making on crypto, but the whol...
Adulterous University
  01/07/18
lawman, i think you're on to something
Alcoholic awkward keepsake machete resort
  01/07/18
...
Federal Headpube Volcanic Crater
  01/07/18
no worries - the regulators will crack down on shitcoin trad...
frum ratface
  01/07/18
Tethers are being used directly to pump up BTC, not shitcoin...
Adulterous University
  01/07/18
"No one is talking about this" except for high-pro...
Sienna cocky boiling water son of senegal
  03/07/18
there is a tether company that claims to back each one with ...
beady-eyed bright station
  01/07/18
They claim that each tether is backed by a USD. However, no...
Adulterous University
  01/07/18
I agree with this post...Worst that happens is someone who b...
sapphire razzle business firm scourge upon the earth
  01/07/18
Let's say the signs are correct and a good % of tethers are ...
Adulterous University
  01/07/18
Think of a tether that doesn't pay USD as any other shitcoin...
sapphire razzle business firm scourge upon the earth
  01/07/18
yeah you're definitely missing something tethers = artifi...
Aphrodisiac Senate
  01/07/18
Agreed, this would be the absolute worst case scenario..But ...
sapphire razzle business firm scourge upon the earth
  01/07/18
It's not about the raw value of tethers being traded, but ra...
Aphrodisiac Senate
  01/07/18
It's possible, but hard to believe that a tether is what's c...
sapphire razzle business firm scourge upon the earth
  01/07/18
You are describing the fragility of the crypto market in gen...
Plum school cafeteria nowag
  01/07/18
How could Coinbase be running a Ponzi? They have billions of...
Olive know-it-all trump supporter
  01/17/18
(full tilt poker sponsored poast)
Aphrodisiac Senate
  01/17/18
help low iqmos like me understand why this isn't tin foil ha...
Zombie-like digit ratio
  01/08/18
How about the fact that the overall crypto market has dramat...
Adulterous University
  01/17/18
Has a “low iqmo” like you finally figured out what I clearly...
Adulterous University
  02/02/18
Dollars aren't backed by anything. It's a comment on fiat fr...
thriller outnumbered kitchen blood rage
  01/17/18
Although I think tether is a Ponzi scheme, it shouldn’t be a...
Ultramarine office
  01/17/18
it's a problem if it gets exposed given how much volume teth...
Aphrodisiac Senate
  01/18/18
So you guys hate fractional reserve banking then?
beady-eyed bright station
  01/18/18
a) this is a hilariously stupid post given tether is more an...
Aphrodisiac Senate
  01/18/18
...
ruby orchestra pit partner
  07/14/19
Coinciding with the pump in prices, 20 minutes ago, another ...
Adulterous University
  01/18/18
$200 million more fraudulent tethers printed today. Here’s a...
Adulterous University
  01/19/18
Head in the sand about what?
ivory excitant gas station psychic
  01/19/18
The risk that the tether scheme gets exposed and takes down ...
Adulterous University
  01/19/18
Hypo: they are found to have half or none of the reserves th...
thriller outnumbered kitchen blood rage
  01/19/18
I don’t think anybody really knows what would happen. Cer...
Adulterous University
  01/19/18
Are you sellcucking?
frum ratface
  01/19/18
I probably should but I’m not. I’ll just be beyond infuriate...
Adulterous University
  01/19/18
yes the question is sell or dont sell
Dull vibrant address travel guidebook
  01/19/18
Bitfinex and tethers have been subpoenaed by the CFTC: ht...
Adulterous University
  01/30/18
The whole market knows tether is fraud lies..BTC might sell ...
sapphire razzle business firm scourge upon the earth
  01/30/18
...
lemon death wish
  01/30/18
There are big cryptomos right here on XO who strenuously arg...
Adulterous University
  01/30/18
Are you sellcucking alt coins for ETH/BTC?
frum ratface
  01/30/18
i’m not saying it’s not a fraud. i’m saying we don’t know en...
beady-eyed bright station
  01/30/18
That's the whole point..whether it is or isn't fraud doesn't...
sapphire razzle business firm scourge upon the earth
  01/30/18
Someone else already addressed this nonsense, so I’ll just c...
Adulterous University
  01/30/18
Ok just saw the post
sapphire razzle business firm scourge upon the earth
  01/30/18
I love you man
Vermilion trip skinny woman
  02/02/18
Love you too Kenny. I’m a bit annoyed that I completely n...
Adulterous University
  02/02/18
ETH was around $450 at the time the tether fraud really star...
Adulterous University
  02/05/18
did you already sellcuck
frum ratface
  02/05/18
No. I should have. But I'm very proud of this thread and e...
Adulterous University
  02/05/18
let me know when you decide to sellcuck brother
frum ratface
  02/05/18
I don't think my answer will change much from before. It's ...
Adulterous University
  02/05/18
I've been pondering the tether stuff and wondering what % of...
tripping racy idiot
  02/05/18
https://www.ethnews.com/600-million-magic-strange-moves-on-t...
tripping racy idiot
  03/12/18
so he's suggesting there is no fraud? There was just a 600 m...
Contagious juggernaut yarmulke
  03/12/18
i think hes saying thats unlikely esp given the relationship...
tripping racy idiot
  03/14/18
NYT article today, truly impeccable timing https://mobile...
buck-toothed clown
  06/13/18
Hope you guys listened to me. I gave plenty of warning. P...
Adulterous University
  11/17/18
...
ruby orchestra pit partner
  11/17/18
Do we know for sure that tether is a fraud? Unless they a...
buck-toothed clown
  11/17/18
you poasted this thread at the exact top—kudos
Cowardly den depressive
  11/17/18
...
ruby orchestra pit partner
  11/21/18
https://www.wsj.com/articles/bitfinex-used-tether-reserves-t...
buck-toothed clown
  04/25/19
Coinbase is the only trustworthy centralized exchange
Contagious juggernaut yarmulke
  04/25/19
from the genius who brought you "My right hand is the o...
Aromatic house rigpig
  04/25/19
Sup arthur hayes
Contagious juggernaut yarmulke
  04/25/19
(tether printer reactivates and doubles supply) (btc moon...
Aphrodisiac Senate
  08/24/19
Possible to keep it switched on? Do the tether guys go short...
Contagious juggernaut yarmulke
  08/24/19


Poast new message in this thread



Reply Favorite

Date: January 7th, 2018 5:31 PM
Author: Adulterous University

I'm loving how much money I'm making on crypto, but the whole concept of tethers really freaks me out.

Basically, tethers are printed out of thin air and poured into BTC and other cryptos to inflate prices and prevent them from crashing. Each tether is supposed to be backed by a USD, so that printing millions of them and pouring them into bitcoin = real money, but in reality, every indication is that tethers are fraudulent and NOT backed by $$.

The clear implication seems to be that shady groups are pumping in counterfeit money (tethers) into crypto in order to induce legitimate money to buy in. Then, the fraudsters sell their stuff, leaving the newer people holding the bag when the fraud gets uncovered.

Here's what I mean:

https://www.newsbtc.com/2017/09/05/yet-another-25-million-tethers-created-blue/

https://cryptovest.com/news/bitcoin-at-11000-still-propped-by-usdt/

If I'm missing something, feel free to correct me. But this really doesn't seem good.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104112)



Reply Favorite

Date: January 7th, 2018 5:32 PM
Author: Alcoholic awkward keepsake machete resort

lawman, i think you're on to something

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104117)



Reply Favorite

Date: January 7th, 2018 5:33 PM
Author: Federal Headpube Volcanic Crater



(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104123)



Reply Favorite

Date: January 7th, 2018 5:34 PM
Author: frum ratface

no worries - the regulators will crack down on shitcoin trading soon enough

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104130)



Reply Favorite

Date: January 7th, 2018 5:37 PM
Author: Adulterous University

Tethers are being used directly to pump up BTC, not shitcoins.

And what you are saying is kind of what I'm getting at. At some point, the regulators will crack down on this stuff, and when they uncover the apparent fact that a good portion of the rise was fueled by literal counterfeiting/fraud, that could be the catalyst that sends it all crashing down.

I'm not an authority or anything; this is just how it seems to me. I'm curious how others feel about this. Just google tethers and the whole thing seems shady as fuck. For example, this is the very first result for "tethers and bitcoin."

http://fortune.com/2017/12/05/bitcoin-btc-price-usd-tether-limited-bitfinex/

But no one is talking about this.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104155)



Reply Favorite

Date: March 7th, 2018 12:36 PM
Author: Sienna cocky boiling water son of senegal

"No one is talking about this" except for high-profile national magazines such as Fortune...

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35553740)



Reply Favorite

Date: January 7th, 2018 5:42 PM
Author: beady-eyed bright station

there is a tether company that claims to back each one with usd no? if so, they are providing liquidity for people in these markets (letting people trade in usd when it’d be too hard to use actual usd)

why is necessarily important for them to clearly show that each individual tether is backed by usd dollar for dollar? it’s not like insurance companies have to have enough money to cover every claim at all times. or banks have to have every dollar deposited on hand at all times . I Do agree that the issues you point out are issues, but i don’t think usd tethers are per se bad or anything

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104186)



Reply Favorite

Date: January 7th, 2018 5:47 PM
Author: Adulterous University

They claim that each tether is backed by a USD. However, no one actually believes this, there are no indications that the company is being honest, and there are plenty of indications that they are lying. See:

https://seekingalpha.com/article/4131159-regulators-must-investigate-bitcoin-tether

"Numerous indications of fraud (failure to produce an audit, opaque banking relationships, strong correlation between Tether’s supply, and the price of Bitcoin, among other things) led me to believe that Tether Limited was issuing fraudulent Tethers (i.e not backed by USD) and funneling them into other exchanges through Bitfinex to buy Bitcoin, rapidly increasing its price in the process. Today, I present additional indications of fraud that confirm my hypothesis regarding the flow of funds (i.e. from Tether Limited to other exchanges via Bitfinex)."

There are a million other articles like this if you Google.

USD tethers are not per se bad if they are actually backed up by $$$. But I made this thread because all the signs are present that the tether company is lying, and if so, couldn't prices PLUMMET once the regulators eventually uncover this?

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104206)



Reply Favorite

Date: January 7th, 2018 5:57 PM
Author: sapphire razzle business firm scourge upon the earth

I agree with this post...Worst that happens is someone who buys tethers can't exchange them for usd, and they get left holding the bag. Moral of the story - don't buy tethers.

It's hard to see how it's a systemic risk, unless I'm missing something.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104267)



Reply Favorite

Date: January 7th, 2018 6:30 PM
Author: Adulterous University

Let's say the signs are correct and a good % of tethers are completely fake.

Since literally tens of millions of these tethers have been printed and then pumped into BTC to increase its price, you don't see how this could be a systemic risk once this fraud is realized? I would think the same risk is why companies can't just print tens of millions $$$ of fake money and use that to pump up their share price.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104474)



Reply Favorite

Date: January 7th, 2018 6:53 PM
Author: sapphire razzle business firm scourge upon the earth

Think of a tether that doesn't pay USD as any other shitcoin that goes to 0.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104608)



Reply Favorite

Date: January 7th, 2018 6:38 PM
Author: Aphrodisiac Senate

yeah you're definitely missing something

tethers = artificial liquidity, even more important than their trading volume would suggest given it always gives an "easy" way to cash out even if exchanges which connect to banks get clogged. this allows peace of mind to someone flipping altcoins. tethers go poof, liquidity crisis: people freak out (just a fraction) and want their hard money, price drops, exchanges lock up (they're already bogged down as it is), price drops more, etc.



(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104512)



Reply Favorite

Date: January 7th, 2018 6:57 PM
Author: sapphire razzle business firm scourge upon the earth

Agreed, this would be the absolute worst case scenario..But the total marketcap of tethers is worth how much of the crypto market? A small percentage of people holding the bag on Tethers will be a -25% week for Bitcoin - a buying opportunity that will quickly recover the price.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104625)



Reply Favorite

Date: January 7th, 2018 6:59 PM
Author: Aphrodisiac Senate

It's not about the raw value of tethers being traded, but rather the peace of mind they provide and waterfall effect of their lack of availability. If traders who were previously relying on the tether as a "secure" temporary store of value freak out, they will try to cash out en masse and it takes relatively little volume to significantly alter the price of crypto.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104633)



Reply Favorite

Date: January 7th, 2018 7:10 PM
Author: sapphire razzle business firm scourge upon the earth

It's possible, but hard to believe that a tether is what's convinced people to pour and keep money in the market. Anyone who's trading crypto is aware of the lack of liquidity.

Traders use it as a safe haven to avoid large losses, not with the intent of using it to cash out. I don't believe a significant number of people actually believe that's a route they can use to easily cash out.



(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104687)



Reply Favorite

Date: January 7th, 2018 7:01 PM
Author: Plum school cafeteria nowag

You are describing the fragility of the crypto market in general. I agree with other posters that even if Tethers itself is a fraud, this is no different than any of the other shitcoins, which are literally valueless (and everyone knows it).

My gut says that tethers itself isn't integrated into the ecosystem in a way to make everything crash. But perhaps it could be the catalyst that would do it, I wouldn't deny that. However, any number of bad events could cause a run to the banks.

For example, I think Coinbase is running a Ponzi scheme. If they are exposed, that would cause the ecosystem to collapse, IMO.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35104640)



Reply Favorite

Date: January 17th, 2018 11:54 PM
Author: Olive know-it-all trump supporter

How could Coinbase be running a Ponzi? They have billions of venture money invested at this point. They are clean.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35181012)



Reply Favorite

Date: January 17th, 2018 11:56 PM
Author: Aphrodisiac Senate

(full tilt poker sponsored poast)

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35181021)



Reply Favorite

Date: January 8th, 2018 2:54 AM
Author: Zombie-like digit ratio

help low iqmos like me understand why this isn't tin foil hat talk. i mean why couldnt it just be that tethers are being printed to scale for the massive influx of REAL usd into the crypto market?

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35107312)



Reply Favorite

Date: January 17th, 2018 11:36 PM
Author: Adulterous University

How about the fact that the overall crypto market has dramatically shrunk over the past several days, yet literally hundreds of millions of tethers continue to be printed?

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35180917)



Reply Favorite

Date: February 2nd, 2018 12:40 AM
Author: Adulterous University

Has a “low iqmo” like you finally figured out what I clearly explained weeks ago?

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35302044)



Reply Favorite

Date: January 17th, 2018 11:41 PM
Author: thriller outnumbered kitchen blood rage

Dollars aren't backed by anything. It's a comment on fiat fraud.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35180950)



Reply Favorite

Date: January 17th, 2018 11:56 PM
Author: Ultramarine office

Although I think tether is a Ponzi scheme, it shouldn’t be a problem unless everyone exchanges all their tether for cash at once. Which could hypothetically happen but too many lowpricebtcbuybulls for it to.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35181019)



Reply Favorite

Date: January 18th, 2018 12:21 AM
Author: Aphrodisiac Senate

it's a problem if it gets exposed given how much volume tether moves, and more importantly it's effect as a "stable" medium on exchanges. the big issue isn't tether itself crashing given there aren't (relatively speaking) that many exist, it's the side effect of losing a guaranteed safe haven medium. it plays a significant role in why shitcoin trading has exploded on the crypto-only exchanges

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35181118)



Reply Favorite

Date: January 18th, 2018 12:02 AM
Author: beady-eyed bright station

So you guys hate fractional reserve banking then?

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35181048)



Reply Favorite

Date: January 18th, 2018 12:14 AM
Author: Aphrodisiac Senate

a) this is a hilariously stupid post given tether is more analogous to jacksonian era banking than modern fractional reserve banking

b) just do FDIC insured--ah, fuck

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35181093)



Reply Favorite

Date: July 14th, 2019 11:07 PM
Author: ruby orchestra pit partner



(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#38533304)



Reply Favorite

Date: January 18th, 2018 11:55 AM
Author: Adulterous University

Coinciding with the pump in prices, 20 minutes ago, another $100 million in tethers were printed.

https://mobile.twitter.com/tetherprinter?lang=en

That makes $200 million in 20 hours. Nope, nothing to see here!

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35183137)



Reply Favorite

Date: January 19th, 2018 3:21 PM
Author: Adulterous University

$200 million more fraudulent tethers printed today. Here’s a GREAT article on the effect this could have on the market.

https://tonyarcieri.com/the-tether-conundrum

Guess this guy read my thread and decided it was time to discuss this issue, while many on XO keep their head in the sand.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35190722)



Reply Favorite

Date: January 19th, 2018 3:32 PM
Author: ivory excitant gas station psychic

Head in the sand about what?

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35190802)



Reply Favorite

Date: January 19th, 2018 3:40 PM
Author: Adulterous University

The risk that the tether scheme gets exposed and takes down the crypto market.

It’s ironic because I’m heavily invested in the market, but I’m aware of this big risk.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35190865)



Reply Favorite

Date: January 19th, 2018 4:10 PM
Author: thriller outnumbered kitchen blood rage

Hypo: they are found to have half or none of the reserves they claim

Does this end tether? What is the broader impact?

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35191078)



Reply Favorite

Date: January 19th, 2018 6:15 PM
Author: Adulterous University

I don’t think anybody really knows what would happen.

Certainly, people would be unable to withdraw their tether into cash. Other cryptos may stop accepting tether, making existing tether worthless (if there are no reserves). It could also trigger a panic.

So while no one knows for sure, my gut tells me it will not end well overall.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35192052)



Reply Favorite

Date: January 19th, 2018 6:17 PM
Author: frum ratface

Are you sellcucking?

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35192070)



Reply Favorite

Date: January 19th, 2018 6:32 PM
Author: Adulterous University

I probably should but I’m not. I’ll just be beyond infuriated if I sellcuck and prices subsequently soar.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35192164)



Reply Favorite

Date: January 19th, 2018 4:12 PM
Author: Dull vibrant address travel guidebook

yes the question is sell or dont sell



(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35191094)



Reply Favorite

Date: January 30th, 2018 1:12 PM
Author: Adulterous University

Bitfinex and tethers have been subpoenaed by the CFTC:

http://www.forexlive.com/news/!/bitfinex-and-tether-said-to-be-subpoenaed-by-cftc-20180130

Yet again, I was way ahead of the curve, yet many people here didn’t take it seriously, at least initially.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35277598)



Reply Favorite

Date: January 30th, 2018 1:29 PM
Author: sapphire razzle business firm scourge upon the earth

The whole market knows tether is fraud lies..BTC might sell off to $8K, but this shouldn't be particularly shocking news to anyone

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35277762)



Reply Favorite

Date: January 30th, 2018 1:29 PM
Author: lemon death wish



(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35277765)



Reply Favorite

Date: January 30th, 2018 1:57 PM
Author: Adulterous University

There are big cryptomos right here on XO who strenuously argue tethers are NOT a fraud and to think so is engaging in all sorts of “conspiracy thinking.”

Looking at BLP and the mostly comma pumo up above.

So I disagree that the whole market knows that tethers are a fraud.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35277972)



Reply Favorite

Date: January 30th, 2018 1:59 PM
Author: frum ratface

Are you sellcucking alt coins for ETH/BTC?

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35277984)



Reply Favorite

Date: January 30th, 2018 2:01 PM
Author: beady-eyed bright station

i’m not saying it’s not a fraud. i’m saying we don’t know enough to say for certain, there are good reasons why it may not be (principally because it’s hard to imagine non affiliated exchanges being complicit in their own destruction), and there are good reasons for tether to not be waving around proof of they have the money since they’re literally breaking us law.

i don’t disagree that this may be devastating for a while to the market - the effect may be the same whether it is or isn’t proven fraud

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35277997)



Reply Favorite

Date: January 30th, 2018 2:24 PM
Author: sapphire razzle business firm scourge upon the earth

That's the whole point..whether it is or isn't fraud doesn't really matter. If it is unequivocally proven fraud, no one will be shocked

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35278200)



Reply Favorite

Date: January 30th, 2018 2:28 PM
Author: Adulterous University

Someone else already addressed this nonsense, so I’ll just copy and paste his poast:

Date: January 30th, 2018 2:12 PM

Author: Darsint

do you really think that the market cap is 500B? if you enter a buy or sell order of 10M it will pump/tank any coin by a massive amount.

now imagine buy orders of 800M in fake money that has been printed over the past month. how much do they inflate the price?

wait they've alreay done this study:

"Tether printing moves the market appreciably; 48.8% of BTC’s price rise in the period studied occurred in the two-hour periods following the arrival of 91 different Tether grants to the Bitfinex wallet."

http://www.tetherreport.com/

tether is about 15% of ETH trading volume, and 12% of BTC trading volume.

it's one thing to say you don't believe tether is fake, but you have to be really dumb or willfully blind if you think that it IS fake but wont have a massive impact on the market

(http://www.autoadmit.com/thread.php?thread_id=3876130&forum_id=7#35278083)

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35278240)



Reply Favorite

Date: January 30th, 2018 2:33 PM
Author: sapphire razzle business firm scourge upon the earth

Ok just saw the post

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35278287)



Reply Favorite

Date: February 2nd, 2018 12:54 AM
Author: Vermilion trip skinny woman

I love you man

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35302134)



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Date: February 2nd, 2018 8:09 AM
Author: Adulterous University

Love you too Kenny.

I’m a bit annoyed that I completely nailed this tether fraud issue yet didn’t sell myself.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35303188)



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Date: February 5th, 2018 9:41 PM
Author: Adulterous University

ETH was around $450 at the time the tether fraud really started in earnest, so look for $500 or so as a potential floor.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35333951)



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Date: February 5th, 2018 9:41 PM
Author: frum ratface

did you already sellcuck

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35333962)



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Date: February 5th, 2018 9:43 PM
Author: Adulterous University

No. I should have. But I'm very proud of this thread and exposing the fraud weeks ahead of the curve.

Now that the fraudulent tethers aren't around to prop up crypto prices, TIMBER!!!!

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35333978)



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Date: February 5th, 2018 9:55 PM
Author: frum ratface

let me know when you decide to sellcuck brother

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35334115)



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Date: February 5th, 2018 10:13 PM
Author: Adulterous University

I don't think my answer will change much from before. It's irrational, but I truly am playing with house money, and I'd rather lose all of it than sellcuck and miss out on major gains.

I'm down a bunch right now but I don't even really care. Yet, when I had sellcucked and missed crypto soaring, I was infuriated. Whenever I was unhappy, I'd think about how I could have been a crypto millionaire if only I held on, and wanted to hang myself. So even though I think the end of the tether fraud = prices are fucked, I prob won't sellcuck any time soon.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35334258)



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Date: February 5th, 2018 9:49 PM
Author: tripping racy idiot

I've been pondering the tether stuff and wondering what % of ADTV volume tether churning could account for. That might be a good way to gauge its price impact. I'm just not sure it could meaningfully move the market but would welcome some scholarship on this

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35334059)



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Date: March 12th, 2018 7:31 PM
Author: tripping racy idiot

https://www.ethnews.com/600-million-magic-strange-moves-on-tether-charts

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35590551)



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Date: March 12th, 2018 9:24 PM
Author: Contagious juggernaut yarmulke

so he's suggesting there is no fraud? There was just a 600 million capital infusion?

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35591349)



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Date: March 14th, 2018 1:01 AM
Author: tripping racy idiot

i think hes saying thats unlikely esp given the relationship w auditors

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#35601227)



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Date: June 13th, 2018 12:55 PM
Author: buck-toothed clown

NYT article today, truly impeccable timing

https://mobile.nytimes.com/2018/06/13/technology/bitcoin-price-manipulation.html

SAN FRANCISCO — A concentrated campaign of price manipulation may have accounted for at least half of the increase in the price of Bitcoin and other big cryptocurrencies last year, according to a paper released on Wednesday by an academic with a history of spotting fraud in financial markets.

The paper by John Griffin, a finance professor at the University of Texas, and Amin Shams, a graduate student, is likely to stoke a debate about how much of Bitcoin’s skyrocketing gain last year was caused by the covert actions of a few big players, rather than real demand from investors.

Many industry players expressed concern at the time that the prices were being pushed up at least partly by activity at Bitfinex, one of the largest and least regulated exchanges in the industry. The exchange, which is registered in the Caribbean with offices in Asia, was subpoenaed by American regulators shortly after articles about the concerns appeared in The New York Times and other publications.

Mr. Griffin looked at the flow of digital tokens going in and out of Bitfinex and identified several distinct patterns that suggest that someone or some people at the exchange successfully worked to push up prices when they sagged at other exchanges. To do that, the person or people used a secondary virtual currency, known as Tether, which was created and sold by the owners of Bitfinex, to buy up those other cryptocurrencies.

“There were obviously tremendous price increases last year, and this paper indicates that manipulation played a large part in those price increases,” Mr. Griffin said.

Bitfinex executives have denied in the past that the exchange was involved in any manipulation. The company did not respond to a request for comment this week.

The authors of the new 66-page paper do not have emails or documents that prove that Bitfinex knew about or was responsible for price manipulation. The researchers relied on the millions of transaction records that are captured on the public ledgers of all virtual currency transactions, known as the blockchain, to spot patterns. This method is not conclusive, but it has helped government authorities and academics spot suspicious activity in the past.

In particular, Mr. Griffin and Mr. Shams examined the flow of Tether, a token that is supposed to be tied to the value of the dollar and that is issued exclusively by Bitfinex in large batches. They found that half of the increase in Bitcoin’s price in 2017 could be traced to the hours immediately after Tether flowed to a handful of other exchanges, generally when the price was declining.

Other large virtual currencies that can be purchased with Tether, such as Ether and Zcash, rose even more quickly than Bitcoin in those periods. The prices rose much more quickly on exchanges that accepted Tether than they did on those that did not, and the pattern ceased when Bitfinex stopped issuing new Tether this year, the authors found.

Sarah Meiklejohn, a professor at the University College London who pioneered this sort of pattern spotting, said the analysis in the new paper “seems sound” after reviewing it this week.

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Philip Gradwell, the chief economist at Chainalysis, a firm that analyses blockchain data, also said the study “seems credible.” He cautioned that a full understanding of the patterns would require more analysis.

Mr. Griffin previously wrote research pointing to fraudulent behavior in several other financial markets. He drew attention for a 2016 paper that suggested that a popular financial contract tied to the volatility in financial markets, known as the VIX, was being manipulated. A whistle-blower later came forward to confirm those suspicions, and now several active lawsuits are focused on the allegations.

Beyond his work at the University of Texas, Mr. Griffin has a consulting firm that works on financial fraud cases, including some in the virtual currency industry.

“The relationship between Tether and the price of Bitcoin has been flagged for months within the community,” said Christian Catalini, a professor at the Massachusetts Institute of Technology who specializes in blockchain research. “It is great to see academic work trying to causally assess if market manipulation is taking place.”

The new paper is not the first academic work to identify manipulation in the virtual currency markets. A paper published last year by a team of Israeli and American researchers said much of Bitcoin’s big price increase in 2013 was caused by a campaign of price manipulation at what was then the biggest exchange, Mt. Gox.



(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#36238020)



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Date: November 17th, 2018 5:15 PM
Author: Adulterous University

Hope you guys listened to me. I gave plenty of warning.

Plenty of know nothing, arrogant fools ITT, while I am proven right yet again.

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#37253038)



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Date: November 17th, 2018 5:22 PM
Author: ruby orchestra pit partner



(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#37253067)



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Date: November 17th, 2018 8:29 PM
Author: buck-toothed clown

Do we know for sure that tether is a fraud?

Unless they are getting help in pepetuating the fraud, we know they have had in bank accounts roughly what they are supposed to

This thread was wonderfully timed with the bubble popping though and anyone that sold back then because of this poast should be thanking you

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#37254062)



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Date: November 17th, 2018 10:48 PM
Author: Cowardly den depressive

you poasted this thread at the exact top—kudos

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#37254741)



Reply Favorite

Date: November 21st, 2018 1:11 AM
Author: ruby orchestra pit partner



(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#37275118)



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Date: April 25th, 2019 6:14 PM
Author: buck-toothed clown

https://www.wsj.com/articles/bitfinex-used-tether-reserves-to-mask-missing-850-million-probe-finds-11556227031

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#38142540)



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Date: April 25th, 2019 8:56 PM
Author: Contagious juggernaut yarmulke

Coinbase is the only trustworthy centralized exchange

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#38143328)



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Date: April 25th, 2019 10:01 PM
Author: Aromatic house rigpig

from the genius who brought you "My right hand is the only trustworthy girlfriend"

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#38143659)



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Date: April 25th, 2019 10:50 PM
Author: Contagious juggernaut yarmulke

Sup arthur hayes

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#38143991)



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Date: August 24th, 2019 2:34 PM
Author: Aphrodisiac Senate

(tether printer reactivates and doubles supply)

(btc moons over exact same period)

(printer turned off again)

(btc lands)

Haha nothing to see here move along haha

Tether accounts for 1/3 of all crypto volume in a market where shitcoins are dead btw very natural



(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#38735769)



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Date: August 24th, 2019 10:34 PM
Author: Contagious juggernaut yarmulke

Possible to keep it switched on? Do the tether guys go short right before they stop printing/selling tether?

(http://www.autoadmit.com/thread.php?thread_id=3852449&forum_id=7#38737567)