Conversation

Bitfinex Anticipates Meritless and Mercenary Lawsuit Based on Bogus Study

Bitfinex | Cryptocurrency Exchange | Bitcoin Trading | Futures Trading | Margin Trading

Bitfinex is the longest-running and most liquid major cryptocurrency exchange. Founded in 2012, it has become the go-to platform for traders & institutional investors.

139

Replying to

The TL;DR: USDT issuances sometimes come with BTC price increases because people create USDT to buy BTC, nothing shady required to explain that.

127

Replying to

and

So ridiculous, the causality couldn't be simpler: people buying Bitcoin need dollars to buy,

@Tether_to

is highest volume asset just behind Bitcoin itself, so ofc tether inflows precede Bitcoin price increases. The conspiracy FUD is just 🤡 stupid.

153

Replying to

I'm wondering why large amounts of money would bother to go through Tether in order to buy Bitcoin. I'd just wire to an exchange or OTC desk. Seems like Tether only adds extra friction and costs here, not value add.

Replying to

If you want to avoid having to wire in and out each time, you could wire into USDT once, and then just trade BTC <> USDT when you want to buy/sell BTC

8:58 PM · Oct 5, 2019Twitter Web App

Replying to

Also this depends on what country you're in. If you're in the US or Japan, wiring money to buy BTC is pretty easy. If you're anywhere else it's significantly harder.

Replying to

There are also crypto only exchanges, which don't have wire transfers, and only take tether.

@Tether_to

is both a stable coin and a wire in/out service for crypto only exchanges.

Show replies

Replying to

The context was people buying BTC during and immediate before big price increases. I see no reason to involve USDT. When selling BTC to possibly reinvest later, yes I can see it.