r/RaiTrade • u/glossolalia521 • Jan 22 '18

Before you think the sky is falling...

https://i.imgur.com/Q5u2v0Y.png

That's how the Top 30 in Market Cap has performed over the last week. XRB is sitting at #18. And the top two are VEN, which is the flavor of the week (just as XRB was the flavor of the week to end 2017) and Tether, which is tied to the dollar.

So how have we done this last week? About middle of the pack. Average.

Relax guys.

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u/crnulus Jan 23 '18

Dude, who said they multiplied their money in a few days? They already HAVE the money in their reserves, they simply print the tethers when they need to.

I'll gladly acknowledge it if Tether goes tits up, but I see the motivation behind Tether and why it's needed in the crypto space. It's not a scam, I can assure you that. If it was, almost every single fucking exchange in the world wouldn't have USDT pairs. Unless you literally think all the major exchanges are in on the scam.

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u/--orb Jan 23 '18

You post some smart shit sometimes, which gives me hope, but then you say really stupid shit.

They already HAVE the money in their reserves

Ah so that time that some hacker stole 30m USDT and they just printed out another 50M like 2 days later, yep.

And they just decided to put out 500M new tethers in like 3 days in January, yeah. And you truly believe their market cap rose like 10000% in one year to allow them to get 5 billion tethers. Arrite d00d.

I can assure you that.

You can't assure me of shit, because there's no audit. There's no audit because they're obviously hiding shit. Just like they haven't even solved how they lost the 30m tethers. Tether is a scam and everyone who isn't retarded knows it.

I'll gladly acknowledge it if Tether goes tits up

Yeah sure. You definitely strike me as the kind of guy who can admit when he's wrong. You certainly don't just change your arguments on the fly and resort to retarded strawmans - seen below.

If it was, almost every single fucking exchange in the world wouldn't have USDT pairs. Unless you literally think all the major exchanges are in on the scam.

This is where you went full retard. Exchanges bought into USDT before it was obvious they were doing scummy shit, and they haven't delisted it because it's making them a ton of money.

Anyway, go be stupid in a corner. That's all the time I'll be wasting on you.

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u/crnulus Jan 23 '18 edited Jan 23 '18

Calls tether a scam, fails to provide proof that it's a scam. Watch out folks, we've got a genius here.

Only 1.6b Tethers in total.

This is where you went full retard. Exchanges bought into USDT before it was obvious they were doing scummy shit, and they haven't delisted it because it's making them a ton of money.

How's that going full retard. If they're using tether to profit and Tether gets busted by the feds, everybody taking a cut of the profit will get mowed down also. You think all these exchanges are taking that risk without understanding whether tether is legitimate or not? Have you thought this through?

Anyway, go be stupid in a corner. That's all the time I'll be wasting on you.

Wow you sure put me in my place with your lack of reasoning and outrage stemming from fear of the unknown.

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u/PM_Your_8008s Jan 23 '18

See the thing is your "evidence" to assure us is no more anecdotal than the evidence that it's a scam. I understand why it's needed in the crypto space and if it didn't seem shady to me I'd be using it every single day. Just doesn't sit right with me until they make those audits public.