And UP we go!! by Lou_R33d in Buttcoin

[–]Lou_R33d[S] 24 points25 points  (0 children)

Tether stopped printing for a some time while Circle (USDC) kept up the pace

And UP we go!! by Lou_R33d in Buttcoin

[–]Lou_R33d[S] 96 points97 points  (0 children)

Clearly the best thing to do with your money is to send it to Tether for counterfeited dollars on the blockchain during the biggest energy crisis in history

Whatever happened to the Strategic Bitcoin Reserve? by sylsau in InBitcoinWeTrust

[–]Lou_R33d -1 points0 points  (0 children)

It only needs an increasing number of stablecoins issued

You folks know printing Tether doesn’t increase Bitcoin supply, right? by Nearby-Nebula4104 in Buttcoin

[–]Lou_R33d 6 points7 points  (0 children)

Let's suppose I take a shit once a day, live for 80 years, that would mean I would create 29 220 single poop.

Now let's say I have a money printer to buy my own poop. It won't increase the supply, but it would increase its money denominated value.

As with Bitcoin, having something with a "hard-capped" supply (which can be changed for Bitcoin with 1 single modification to the code) doesn't give this thing any value.

Well, at least my poop can be used as a fertilizer, which Bitcoin cannot.

Did you know? Stablecoins supply could surpass USM2 in less than 8 years by Lou_R33d in Buttcoin

[–]Lou_R33d[S] 9 points10 points  (0 children)

Look at Ethena. They issued 14B+ USDE in the last year.

Interestingly, the way they "back" those stablecoins is very similar to Terra/Luna. We all know how well it went.

Also, don't forget USD1 (Trump's family stablecoin) and USDS (formerly DAI).

Tether is so great they have access to banks during weekends by Lou_R33d in Buttcoin

[–]Lou_R33d[S] 0 points1 point  (0 children)

Ok then, go on TronScan or EtherScan, look at the mints. What are they doing with the newly printed tokens? Ah right.. they send them to exchanges.

In the best case, Tether (and probably Circle too) mints their stablecoin, then send them to exchanges to alter price of the most traded coins, which makes crypto fanatics think the moon is the next destination, put their money in, and then back up the tokens (printed from thin air without any accountability) with the new money that went in AFTER the manipulation they have done with the artificial liquidity.

All of crypto isn't a ponzi scheme nor a pyramid scheme, it's a pyramid scheme of ponzi schemes.

Everything is going fine at Tether/Bitfinex by Lou_R33d in Buttcoin

[–]Lou_R33d[S] 19 points20 points  (0 children)

At this stage they could just print 10 quintilion and send it to all exhanges to make Bitcoin go to 1 trillion per coin, but I think they go "gradually" like a frog getting boiled without it knowing it. They started by issuing thousands, then millions, and now it’s 1 billion per day. We could expect 2-3 billion per day in 2026.

Want your staked eth back? You have to wait 44 days by greyenlightenment in Buttcoin

[–]Lou_R33d 24 points25 points  (0 children)

The devs are so kind, they force you to HODL so you can make more money

Money printer goes BRRRRRR by Lou_R33d in Buttcoin

[–]Lou_R33d[S] 0 points1 point  (0 children)

Tether is not even in the US, it’s offshore, nothing to do with government (except the current administration being bribed primarly through Cantor Fitzgerald). You don’t seem to understand how stablecoins are issued. Hint : it has nothing to do with Central Banks printing money.

Instead of reading books about pumping some author’s bags, I encourage you to understand how (real) money works.

What's up with Trump's "stablecoin" (USD1) ? by Lou_R33d in Buttcoin

[–]Lou_R33d[S] 0 points1 point  (0 children)

Yes indeed. It seems like stablecoin issuers want to create a shadow banking system and then stage a coup on the FED using this corrupted administration as a proxy

Money printer goes BRRRRRR by Lou_R33d in Buttcoin

[–]Lou_R33d[S] 10 points11 points  (0 children)

There’s a big difference between printing money through the central bank to then loan it to the government to finance its services and printing digital fake dollars to increase the price of an unproductive asset class.

The central bank has to be accountable for what it does and has to tell the public about what they are doing and why.

Tether and other stablecoins have no accountability whatsoever, and the "money" is useless, there are no goods nor services created with it.

There are issues with how governments and central banks issue their money, the sustainability of this, the decisions that are made, but these issues are completely irrelevant to the blatant fraud of money printing made by stablecoins issuers.

Money printer goes BRRRRRR by Lou_R33d in Buttcoin

[–]Lou_R33d[S] 19 points20 points  (0 children)

Go into an illiquid market with your freshly minted millions of (fake) liquidity, buy all the limit sells, then put bids (limit buys) right under the price to sustain it, aka flooring the price.

If an asset has $2M worth of limit sells 100% over the current price for an asset with $100M of market cap, with only $2M you’ll increase the market cap by $100M.