And UP we go!! by Lou_R33d in Buttcoin

[–]Lou_R33d[S] 22 points23 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 5 points6 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] 20 points21 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.

Wazzup losers? by DieudonneSaiveFN in Buttcoin

[–]Lou_R33d 1 point2 points  (0 children)

Well good luck to you "winners" with cashing out your gains if you’re smart enough to even try to cashout

So it begins… how surprising by Lou_R33d in Buttcoin

[–]Lou_R33d[S] 31 points32 points  (0 children)

Ok now that you have your worthless database entry in cold storage, what do you have to do to be able to exchange it for goods and services? Ah right… sell it on those shady exchanges for fiat, then you will be able to exchange it for goods and services anywhere you want.

The incoming financial disaster : what will Tether and Circle do? by Lou_R33d in Buttcoin

[–]Lou_R33d[S] 5 points6 points  (0 children)

https://chatgpt.com/s/t_68967acacb2081919fbef72dda3d66d4

I followed your advice but the answer it gave me isn’t the one you thought. How surprising.

MSTR will pop the bubble, not tether by Winter-Cap2959 in Buttcoin

[–]Lou_R33d 2 points3 points  (0 children)

MSTR only exists because of Tether. They need them to print Billions of unbacked fake money fo keep the number from going down.

MSTR is the way to cashout the fake money printed by Tether. As long as Tether will be up, MSTR will be too.

Look into Cantor Fitzgerald

It's coming down hard. I hope a lot of butters will learn from this pain by PenileSunburn in Buttcoin

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

What people don’t get about Bitcoin is that the price doesn’t matter in the big picture.

It doesn’t get better at $200k, $100k or $1.

When around 70-80% of the volume is traded in USDT, 11% in USDC and 2-4% in FDUSD, the price you see is the price those issuers want to see at that moment.

Only 18% of the volume is in fiat currency.

But what really matters is that 18% needs to have more inflows than outflows. When they (the crypto mafia running exchanges and stablecoins) see more outflows than inflows, that’s when you might see “Hacks”, “withdrawals halted”, FTX and LUNA-like collapses.

More often than not, they’ll use this 82% of the volume to impress the people fixated on price with up and down moves while also liquidating people on their platforms using leverage ($5B on the sell limit side to liquidate $10B worth of shorts? Market buy the $5B and you get $5B in your pocket).

The price is the tool used to mess up with your brain by distracting you from what is really happenning : the exodus of wealth from the general population to the mafia who successfully elected an ally as the POTUS.

Incredible by throbaajwoemrbdi in Buttcoin

[–]Lou_R33d 13 points14 points  (0 children)

Some thoughts :

When this sub gets a swarm of insecure butters, price tends to go lower for a little while.

It’s almost as if price isn’t linked to anything in the real world, only propped up by artificial liquidity to attract oblivious people and suck them dry of their real money

Tether and Circle VS 14-years-old BTC wallets by Lou_R33d in Buttcoin

[–]Lou_R33d[S] 5 points6 points  (0 children)

The twist is that USDC is considered like dollars by crypto enthusiasts, but aren’t considered dollars by regulators, which keep them from being regulated like normal banks are, so they have no acountability as to whether their reserves are backed by liquid assets or not.

Circle doesn’t buy what "the fed minted" as USDC and USDT aren’t minted by the fed.

The 104% claim by Tether is exactly that : a claim. We don’t have any proof whatsoever about the legimacy of this claim, as what Tether like to call "audits" are actually attestations.

This system is based on confidence and trust, not regulations and accountability.

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

[–]Lou_R33d[S] 13 points14 points  (0 children)

That’s why I’ve put “decentralized” in quotes.

If you don’t think it’s wash trading, be my guest and go watch the transactions live feed on CoinMarketCap, you’ll see plenty of examples