Maybe they're just selling them to create reserves to back tether
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Just need another $700,000 to fully back tether again!
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The $700M matching number is interesting. Perhaps BFX cold wallet valuation is what Tethers were "backed" with all along. That would explain why they are trying to maintain a $6,000 price floor at all costs.
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Now everyone is starting to get it. Glad to see this take, Missing.
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#Tether is about to fall, I'm hoping it won't be to dramatic with the rise of other stable coins -
People have severely underestimated the Bitfinex Tether scam.
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People don't want to tap the glass, I would be happy to see both exit this space even if it caused short term pain
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Honestly I think tether has been used far more for price suppression rather than inflation. If both entities died, Bitcoin would probably go stratospheric. Other stablecoins won't help the situation, just add more victims to the pile
#RememberPaycoin -
I mean, you're objectively wrong, according to facts, but facts are [checks translation for 'undesirable'] fiat fiat government bank fiat government.
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If you're talking to me, please feel free to indicate why you believe I am incorrect.
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I mean, you seem to think that the sudden removal of billions of fake USD from the market would result in Bitcoin going up, so we're going to have to start with an explanation of 'addition' and 'subtraction'. You ready?
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If I'm the owner of an exchange, I'm in a position to front-run my users. If in addition to my position, I also had an unlimited volume of fake $$$ to trade against the users I'm front-running, I can artificially direct the price any way I want it to go.
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You've only shown that tethers are backed by bitcoins, which are backed by tethers. So in fact you've only given more proof that tether is backed. Game over
@bitfinexed.pic.twitter.com/wGVGUcBlF7Thanks. Twitter will use this to make your timeline better. UndoUndo
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The net withdrawals for
@bitfinex cold wallet MTD is ~38,212$BTC and Sept to Date is 63,968$BTC ($250mn / $415mn) vs. $610mn increase in USDT Treasury MTD & $855.0mn Sept to Date.pic.twitter.com/UvTcP0pFFh
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Keep fighting the good fight! Thank you
+5 @xrptipbot. P.S. Bitcoincidence is the best word I’ve seen on Twitter this year!Thanks. Twitter will use this to make your timeline better. UndoUndo
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I hope that continues, and treasure is $3 Billion, with almost $0 market cap. Then what will you talk about? You need to find some new materials to push BTC under $1100 so your ego will finally say I sold higher than $1100 ( $1150 in March-17) and feel great about your self. :-)
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Imagine, it is the year 2025, 1xBitcoin is now worth $20,000,000. This is the only Bitcoin for sale on an exchange who can create out of thin air 20,000,000 USDT with the click of a button and buy that Bitcoin. This means either Bitcoin or Tether has NO intrinsic value. Which?pic.twitter.com/mCD7Cn8DZ7
Thanks. Twitter will use this to make your timeline better. UndoUndo
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