Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by fillippone (3)
Tethershit coin is a threat to financial stability. The whole thing is basically a scam, its not 1USDT=1USD, at all. If it was then Outstanding Tether = same number in USD cash. It is not.
USD cash in tether is about 2.9%, add fiduciary deposits = 21% of the total.
Here is the breakdown with my analysis
3% actual cash + fiduciary deposits = 21% USD
12% is "secured loans" == They bought big houses in the caribbean
10% precious metals/corporate loans == They bought Gold and stashed it
1.5% shitcoins == They bought shitcoins to pump and dump
5% TBills, reverse repo notes == could count as cash but interest bearing
AND roughly
50% Commercial Paper == +30 Billion == I will admit there is 1.1 Trillion outstanding in commercial paper, however that is close to 3% of all the outstanding commercial paper in the US.
Add USDC, maybe 5% of all commercial paper is held by usdt+usdc
If crypto market goes x5, stablecoins x5, then 25%...you get the picture. Commercial paper is what enables you to have a paycheck at the end of the week by the way.
my2satoshis
USD cash in tether is about 2.9%, add fiduciary deposits = 21% of the total.
Here is the breakdown with my analysis
3% actual cash + fiduciary deposits = 21% USD
12% is "secured loans" == They bought big houses in the caribbean
10% precious metals/corporate loans == They bought Gold and stashed it
1.5% shitcoins == They bought shitcoins to pump and dump
5% TBills, reverse repo notes == could count as cash but interest bearing
AND roughly
50% Commercial Paper == +30 Billion == I will admit there is 1.1 Trillion outstanding in commercial paper, however that is close to 3% of all the outstanding commercial paper in the US.
Add USDC, maybe 5% of all commercial paper is held by usdt+usdc
If crypto market goes x5, stablecoins x5, then 25%...you get the picture. Commercial paper is what enables you to have a paycheck at the end of the week by the way.
my2satoshis
Does not look like a scam to me. They have backing, and they have been attacked for years, including likely USA complicitness when they had $800 million or something like that taken from them when it was "in dollars" and supposed to be held by a supposedly legitimate institution. that fucked them over and then the USA government was opportunistic to blame tether for some bullshit stuff that they likely enabled.. rather than attempting to get the $800 million back to Tether (the proper owners of dat supposedly legitimate backing kind of value).. Tether has done pretty damned good over the past 6 years or so.. given how much they had been working outside of the acceptable systems that would have shut them the fuck down, if they could have done so without causing their own backlash - further going underground or going out of jurisdiction - issues.
In other words, you are repeating variations of dumb-ass talking points that we have been hearing since about 2014 whining about tether being a scam that is way less true than you are making it out to be and ultimately they are likely way more of an ally to the goals of many persons who support bitcoin rather than their lame-ass stable coin imitators that try to appear more legitimate.. blah blah blah.
I should be rolling my eyes at the level of your nonsense assertions... not the first time either that you have come out with various baloney.. are you even a coiner?
