Screenshot showing the development of the amount of USDT (tether) tokens in the last week: Tether has printed 4 billion fake USD from thin air. That's where Bitcoin's price increase comes from.

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   tante (tante@tldr.nettime.org)'s status on Tuesday, 05-Dec-2023 09:40:37 JST tante

   I get a lot of people calling out my #Bitcoin skepticism (as in: Bitcoin is a worthless piece of hot garbage trying to kill our planet) because number is again going up. This time it's real, now that the scamers have been caught and all.

   But if you want to know why Bitcoin goes up you just need to look at one curve: Tether has printed 4 billion USD from thin air in the last week.

   While it's great to see the crypto scam artists SBF and CZ been caught and punished (sadly without making their victims whole) the actual rock that whole scam economy is built on is Tether. Has been Tether for years.

   And I really don't get why US regulators let some weird company print fake USD.