Bitcoin Forum

Tether just printed 250 million dollars few hours ago:
https://omniexplorer.info/address/3MbYQMMmSkC3AgWkj9FMo5LsPTW1zBTwXL

Usually when thet did so previously BTC started to rise. Lets see if it happens this time. You thoughts about it?

I guess if this time tether printed another 250 millions again and this is for the second time. I remember at early 2018 tether company has already printed the first 250 millions dollar.
But there is no news about where the audit will be going on. This is really strange the company can't even show its reserve funds to backed tether to be equal with each dollar.

OOyy this is graet news, I hope that the bitcoin price will rise again, and finally he will be able to break the psychological mark at $ 10,000

i am wondering if they are really backed by USD or just printed as we do with banks.Tether should submit an audit report conducted by a recognised external body to give tether some credibilty

what did you mean with usually,?
i think tether only printed about 250 Million usd twice and if this new true,,
this is the second time tether did

I found this account interesting on twitter as it looks at the data and tweets when money is printer or shall we say digits are changed: https://twitter.com/tetherprinter

I still do not understand why most people go with with tether, might be cuz they are accepted by most well known exchanges thus creating the positive look out of tether. But I really think this thing could crash if not today somewhere in the future if some balance is not met. Even I don't understand why websites such as coinmarketcap show USDT volume as USD volume, when it is not.

Well let's hope the pump comes in. Bitcoin has suffered a low market for long. We really need a redemption now. Let us hope this takes us there

Don't personally believe it makes much difference, not done much so far this time.

How does it affect the market concretely?

I think that the system needs an alternative to Tether. I do not believe that they have so much real money. In this case, a lot of gray spots.
And personally, I don't keep my money in this for long. I wait when there will be some kind of replacement, a unique analog of the dollar/euro without binding to a certain exchange.

In theory, Tether is fully backed by USD. However they do print some and only release into the market as there is demand for them. Contrary to what people think, they don't just "print" the money. I also don't think it has any relationship, on its own, to the Bitcoin price or any other altcoin for that sake.