Just as reference as the comment here was deleted. Pretty important stuff.

http://omnichest.info/lookupadd.aspx?address=3MbYQMMmSkC3AgW...

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

Basically I think the tether are fraudulent. I do not have proof but they likely are. What is the best way to make money on them? Can one short tether?

Good chance the interest rates will wipe you out before the price crashes.

If you're in the UK, try to find a bookie who'll take your bet.

It is possible to short tether on kraken platform...

Though good luck getting paid when shit hits the fan, Kraken will go down along with Tether.

There's a twitter account that tracks the printing of new Tether: https://twitter.com/tetherprinter

There was another $100m invented 11 hours ago, in addition to the $100m created on Monday.

Jesus, they've printed 250 million of them in the last three days!

Another 100m right now. So 350m in 3 days?

It's hard to catch a falling knife!

They don't really "print" a $200million. Finex explanation is that when a user requests USDT they issue new USDT from their USD reserves.

You really believe they added $200million to their USD reserves to cover the USDT?

Edit: Where would they get that USD?

With a dump truck full of unmarked dollars in small denominations in some dark Bangkok alley, provided by generous institutional investor. Obviously.

They say it's their "institutional investors", they never release who these are (some people say it's Bitfinex themselves), they never release what bank they use or which country is the money deposited in.

It's rotten to the core... The consensus is that they either don't have that money at all (most likely scenario) or that if they do it's all dirty money and they are operating a money laundry scheme....

Unless they would prove to the public and/or competent regulatory authorities that they definitely have done that, they should be considered as "printing" this money.

Proven reserves count, claimed reserves don't. If USDT is "covered" by reserves that are claimed but not verified, then USDT is not covered.

Tether did a fake "audit" to show they were legitimate: https://medium.com/@bitfinexed/the-so-called-tether-audit-th...

How does the printed tether enter the market?

Bitfinex buys cryptos with them on their own exchange. They get free cryptos, and everybody else gets monopoly money in exchange. Tether is such a scam it's unbelievable.

Bitfinex should then sell that crypto for real USD on other exchanges. They could make a killing and then somehow launder the money so that when the Tether scam is exposed, they are safe with real hard USDs.

I'm guessing the company offers them on some exchange, maybe slightly discounted.