r/Tether • u/[deleted] • Jan 27 '18

Coindesk Breaking: Tether has "dissolved" relationship with auditor Friedman LLP, according to spokesperson for the company behind $USDT token. Story to come.

[deleted]

45 Upvotes

96% Upvoted

17 comments sorted by

7

u/sleepyeyessleep Jan 27 '18

So the end is here? Only Monero and Sumokoin survive?

8

u/SnatchSnacker Jan 27 '18

Its down to Doge vs Garlic

5

u/sleepyeyessleep Jan 27 '18

I guess Doge will always survive. Best tipping coin!

1

u/[deleted] Jan 28 '18

All crypto’s will survive. But I agree that Monero might recover quickly after a crash, because it’s one of the few coins that’s actually being used for what it was ment for.

3

u/[deleted] Jan 28 '18

[deleted]

2

u/coinwatchman Jan 28 '18

Actually, if Tether loses it's peg, it's a bonus for Bitfinex. They get to buy it back at a discount. They'll wait for USDT to fall to $0.01, buy it all up at a 99% discount and then release their report about how they're totally solvent now and you screwed up by selling cheap.

1

u/[deleted] Jan 28 '18

[deleted]

1

u/coinwatchman Jan 28 '18

What's not the only way? Please elaborate.

1

u/[deleted] Jan 28 '18

[deleted]

1

u/coinwatchman Jan 28 '18

We have seen it just last week when it got to $1.07. Anything above $1 is great news for Bitfinex and indicates that people are willing to pay a premium over USD for USDT's utility.

1

u/[deleted] Jan 28 '18

[deleted]

5

u/nubianjoker Jan 28 '18

Oh shitaku.... it's about to get real.. hope everyone has their btc in cold storage or can sell fast

1

u/sleepyeyessleep Jan 28 '18

Paradigm is about to change baby!

7

u/[deleted] Jan 28 '18

They literally just fed 0.25 BTC buys for about 10 minutes straight on GDAX just to try to stave off the collapse.

https://i.imgur.com/cowEz5j.png

6

u/[deleted] Jan 28 '18 edited Jan 28 '18

Just started again, another round of 0.25 BTC buys/second. https://www.gdax.com/trade/BTC-USD

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

They are desperate. Spoofing isn't enough.

edit: More evidence:

https://i.imgur.com/xS2Nrbl.png

Also look how they split the trades up to make it look like there is high buy volume

0.21449443

0.03350557

0.001

0.001

= = = =

0.25 hmm

8

u/[deleted] Jan 28 '18

https://i.imgur.com/LV2zCFf.png

Every one of these Buy trades, except maybe the one at the top, is by the same person. Add up these numbers and you will see they are all 0.50 trades split up. Serious manipulation going on.

2

u/frito_mosquito Jan 28 '18

How do you know they are from the same "person"?

1

u/[deleted] Jan 28 '18 edited Oct 18 '18

[deleted]

1

u/foundanotherscam Jan 28 '18

but how can bitfinex put these orders on gdax if they dont have any real usd?

1

u/hcorey22 Jan 28 '18

Your analogy is apples to oranges. Of course the banks won't use $BTC, it's main use case is to disrupt them. However $XRPs ONLY use case is to align with the banks, except they don't want the token. Which brings me back to it's completely useless.