Also what I keep hearing is tether prints money out of nowhere. There is no evidence for this!!!!! when tether prints money, people gave it money for god sake. Please please please just try to give some evidence (I know they aren’t audited. Something else)
Tether is only an excuse to not buy bitcoin that will go up 1000% in the next 5 years, 10,000% in the next 20 years, and even higher, The ultimate move of a goal post, saying when Tether fails bitcoin price will crash is the same as saying when Blackrock goes bankrupt, the whole financial system will crash Tether is more profitable than Blackrock and doing it with less than 100 employees, and no leverage, in fact negative leverage as USDT private keys get lost, or locked up in smart contract, never to be redeemed There is no need to defend Tether, it is doing very well on its own bitcoin will continue to increase in value, Tether is a distraction fud Bitcoin has literally saved millions of lives, in Lebanon, in Turkey, in Argentina, in Ukraine, in the US... We were born at the right time in history, we should not throw away this opportunity of our lifetime Imagine how unfair it is for the people that are being born today or 10, 20, 30 years in the future Are we going to tell our children, our grand children, our great gran children, that we did not adopt bitcoin because someone on a forum posted about Tether?
I was foolishly naive and have severely miscalculated the proportion of the fraud. Thinking "they" would shut it down, but instead they are cashing in on the fraud. You could argue wrong on timing = wrong and therefore i am wrong, which is a valid point. The reality is that Tether is an unbacked fraud propping up this entire space. The perception of reality is that Tether is legit and bitcoin is a safe store of value. Which one is true? It's basically like the schrodingers cat phenomenon. We don't know if the cat(tether) is alive(backed) until we open the box(books). And for as long as the box stays sealed, it doesn't really matter if they actually have the money. I guess the midwit move is to think it will collapse because Tether is a fraud, the simple stupid method is to buy because price goes up and the genius move is to buy because Tether is propping up the market and it works until it doesn't.
Translation: I have not been wrong is the market that is wrong! Also, you provided zero evidence that tether is a fraud other than just saying it do you have any evidence?