Bitcoin Forum

"Fiat-backed stablecoins are therefore rarely actual cryptocurrencies, which causes them to inherit their main characteristics and shortcomings from the centralised banking system. Ultimately, they function in the same manner as fiat, backed by what amounts to an IOU."

"There is a theory that stablecoins such as Tether have been used both to stabilise and manipulate Bitcoin’s price, especially during the 2017 Bitcoin bull run."

"What is important to remember, is that any asset may appear stable until it suddenly isn’t."

Really interesting read by crypto CEO = https://medium.com/@DDhopn/stablecoins-3b93b4f1ddc5

The last time Tether crashed, it pushed Bitcoin's price up a lot, so no, it will not bring bitcoin down, perhaps it will push Bitcoin up like the last time.

I have heard that theter actually has equivalent of dolars to tether in bank account so I think it is somehow stable. The connection between Tether and BTC price is most likely real.

bitcoin doesn't rely on Tether so no!

90% of bitcoin volume is coming from fiat exchanges with actual fiat currencies such as US dollar, Canadian dollar, Japanese Yen, Euro, CNY, ... and a small percentage of it is from Tether which is mostly people who are moving coins between exchanges to do arbitrage trading.

on the other hand 90% of the altcoin/fiat volume and about 40% of their total volume comes from Tether. so if anything the altcoins should take a huge hit.

of course the FUD of a shady coin like Tether going down is going to harm bitcoin even though bitcoin has nothing to do with it.

Tether has never undergone a full audit which I think makes people sceptic. Hopefully they are backed by USD as I think they provide a helpful middle ground between crypto and fiat, but there is still a lot of other factors that make me wary of them.

there has been a lot of FUD about relationship between bitcoin price and tether and all of them have been nonsense. but yet people continue talking about them because this market loves the drama ;)

as for "bringing down bitcoin", you can only wish but it will never happen. however we will surely see Tether eventually go down either by their company scamming people or by FBI shutting them down at some point and that will cause a lot of panic in the market with lots of dumps and bitcoin will be among them.

I have different point of view i think all these stable and fiat backed coins have done tremendous work for bringing masses to crypto and this has lead to adoption as before all these fiat backed coins general people were confused about crypto and what is their true worth or how to invest but after the launch of especially usdt they can relate and weigh their investments in real world fiat money which has helped in compliance so i see tether as a very positive thing for crypto market.

nothing can bring down bitcoin and make it fall, I want to ask whether stablecoin luring long term investor? I think stablecoin will be used for daily trading. everyone sell bitcoin only for each country's currency to earn income from cryptocurrencies

Yes, I agree with you. I don't think that tether could bring down bitcoin. If traders want to see their coins is not getting down too deep, they should think of using tether to save their money because the price is not going down too deep. I see that is the function of tether, to protect the funds in the stable coins if we are too scared with the volatility.

Have you seen the latest news from tether if tether company doesn't have a lot of money to cover all of USDT that already issued by the company itself and this has already published at the same time with the migration of tether to the tron news.

Bitcoin will be the king of coins no one can beat him including Tether, Tether is still in position 8 I think it's far to drop bitcoin.

Until now, I am doubting the USDT having real backing of USD.
And if people within their team start to feed their hunger for money, we know for sure, they are going down.
But bringing down bitcoin? Still a big question out there.
How many people know about the existence of tether as compared to bitcoin? Just to start I guess.

They using this coins to take the benefits, stable coins can't bring down btc  most of us here will continue to believe that it's still far better to have decentralized cryto than this kind of project where more bigger whales can play and ride the game.

He mentions exactly that in the article, says stablecoins are necessary for acceptance and adoption of cryptocurrencies, but hopefully over time people will be educated about the benefits of decentralised coins and then move money from centralised digital coins into decentralised cryptocurrencies (which will hopefully be stable by then).

I agree with you to an extent, but it's also unhealthy to have a top 10 coin with that higher volume that could be fraudulent.

Last time Tether crashed? Crashed in terms of? As far as I know, Tether's value is pegged to USD, isn't it? The lowest Tether ever been is $0.96 which I don't consider to be called as crash as such differences happen due to trading adjustments. I think your understanding about how market works in not correct. Tether is not a speculative cryptocurrency. It is mostly used as base cryptocurrency for forming crypto pairs on exchanges since it is a good substitute to Fiat currencies. So people can directly trade in terms of Dollars without using USD at all.

If money is not traded, there will be no difference. So, tether is just a stable money to keep the money stable. If you look at its volume, you will find it is not stored much.

From definition, tether is a stable coin, which invariably means it has a fixed price. Therefore it could be a tool for controlling the price of btc. It is easier to pump and stabilize price using it, than  to use it in causing a general dump.
Although, as uneasy as it could be, a continuous dump using it could come to reality with persistence.

But what if it's not stable, no one knows if USDT is actually backed 1:1 in real USD as they refuse to undergo a complete audit, if they are running a fractional reserve system exactly like the banking system they are no longer stable in the long-term.

Bitcoin is not correlate  by anybody while most of the coin depend on bitcoin. I don't agree with the point that tether is use to manipulate the price of bitcoin.

No way that could happen, not in any universe. There is nothing special with tether, Bitcoin might have not anything very special too, but for now it is the highest marketcap. To bring down Bitcoin or at least take it's position as #1 crypto, it needs a very good project, and Tether is not a very good project, it has nothing special

BTC has been paired with tether in a lot of exchanges and many traders use this to preserve their funds but it does not mean that tether is the reason why bitcoin is going down. It's a nature of cryptocurrency to go down and up it is volatile, stablecoins exist and many users use it to their advantage and there are some shady things about Tether.

No, Bitcoin is much more than its price anyway.
Besides fear not, alternatives to stablecoins like Tether are coming:

https://www.coindesk.com/a-small-bank-in-germany-is-now-nearly-30-owned-by-crypto-companies

I can´t imagine what can happen because many people bought Bitcoin with USDT, if we now find out that it is not really backed by 1:1 it could be really disaster because people bought something with nothing and that will cause a problem that people will again be more afraid of using and buying crypto.   :-\

it definitely is not completely backed by USD as in not being 1:1 and their shadiness makes me believe this even more every day.

as for that last question it is a good one. people who start buying bitcoin don't know about Tether and majority of them will never even bother with it because there is no point in using it since all they want is to buy more bitcoin and use bitcoin not some pointless centralized altcoin that is shady as hell.

Am still trying to figure out the connection between Tether and Bitcoin. I do not see the reason it should bring down bitcoin in the first place. Bitcoin is already established. I don't think the price is controlled by any other coin, rather it has some level of effect on other coins.

Am still trying to figure out the connection between Tether and Bitcoin. I do not see the reason it should bring down bitcoin in the first place. Bitcoin is already established. I don't think the price is controlled by any other coin, rather it has some level of effect on other coins.
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https://www.bloomberg.com/news/articles/2018-06-13/professor-who-rang-vix-alarm-says-tether-used-to-boost-bitcoin

No. Bring down bitcoin means usdt have more market caps more than bitcoin. As of now bitcoin was the best and the most biggest marketcap based on coinmarketcap.

It is true that a large amount of Tether were created during that bull run without any transparency and still i am not sure they are fully transparent with their financial dealings, may be they are auditing everything and have equal asset in a bank in dollars, if they are not true to that they would have being exposed by now, it is not a small market to manipulate with fake valuation for a long time and even in the worst case scenario it will not bring down bitcoin altogether, we might see a correction but i do not think it will have a lasting effect on the market.

as we've learned from bitcoin the only thing that makes the price go up is enough people believing in a system to make it work. I think believe far more in bitcoin than they ever will with tether

I can't see how Tether will bring Bitcoin down, Bitcoin is in multiples of Tether market cap and also remember we now have many Stablecoins in real competition with Tether, again most of these exchanges are now having Fiat gateway to their platform. The space has matured more, don't see a $2 billion Mcap bringing down the whole space

I believe Tether owes its existence to Bitcoin and the volatility of the cryptocurrency space. In my opinion, tether would be worthless if there's no cryptocurrency to hedge as fiat is easier to transact

The fact that Tether is being used today, and that's the reason it exists only because of Bitcoin. It's impossible for Tether to go beyond Bitcoin.

If cryptocurrencies wouldn't be exist, then why we need Tether?

Could it? Sure why not, not like forever or not to a point where bitcoin is dying no, but could it bring it down a bit? Sure that is totally possible.

I think tether is already hurting bitcoin more than it shows and because of the option of having tether people are moving much more carefully now, they didn't do that back in the day but now they are being more careful with their money, back when tether was absent people either had coins or they had money, nothing in between, no stable token which meant they were either in or out which helped us become more fierce with our investments and go all in instead of playing it safe. That is why I think people should be focusing more towards what tether took away from us already instead of worrying about what it could potentially do.

Tether itself is the sketchiest operation in all of crypto (yes, it's even worse than ripple).
The entire operation from start to now has been completely opposite to the spirit of blockchain.

A centralized, "stable", coin backed by fiat itself is exactly what crypto was supposed to pull down.
Also, there is not much transparency with only an audit from unreputable companies.

And then there is its rise in the charts.
this is where the most suspicious things have been going on.
Every, tether is backed by one USD?
Then how do you care to explain that tether systematically jumps in 100s of millions in circulation.
what that means is that every other month or so, tether has 100s of millions of usd ready to back up their tether.

Wow, that would make tether even more successful than Apple!

Yeah, there is definitely something fishy about all of this.
And it's best to just stay far away from questionable companies.

I seriously doubt any coin/token can bring down btc dominance at the moment. Btc has gained so much reputation, solidity and use that, it will take a whole lot to distabilize its relevance and dominance. Other coins/tokens can only consolidate on its strength and leverage on its power to gain good growth.

Tether is being actively used to manipulate bitcoin price, that's true. It's one of the instruments used by whales to do their dirty deeds  :)
Now, when there are many stable coins presented on the market, there even more opportunities for manipulation I think.

I see this in a very different waysnd I think all these stablecoins that can be use to hedge crypto against volatility is beneficial to the industry and through them many will be more eager to makes use of cryptocurrency. Even time is coming that mosy platforms that target mass adoption will have to have stablecoin in their platform for hedging.

Tether cannot bring down Bitcoin not even Ethereum that is currently ranking second next to Bitcoin on the coin market cap. Tether can do pretty well out there in the market than it's presently doing but not to bring down Bitcoin.

I think is possible that Theter can affect bitcoin price, but will not bring bitcoin price down even if a lot of Theter or created and launched on market and then buy bitcoin with and after sell bitcoin for USD, this indeed can be a problem.

Tether at any instance will not make any big change in the market. As it is a stable coin the growth won't get any impact on bitcoin from my view.. The tether got collapsed in a large scale when a huge volume of tether got hacked. Further after recovery of certain percentage it retained its value.

What really made to create this statment. How will Teher bring down Bitcoin being a stable coin. To dive deeper into it, Every altcoin including Tether the stable coin's growth depends upon Bitcoin's growth. Lot many reasons behind it. Tether is a good stable coin to use as a crypto asset when the crypto values go down.

What do you mean by tether release?
Tether has always been available , even in as much quantity as we would want it to be.
What should be of main concern here is that, since it is a stable coin, it can be used at any time to pump the price of btc, by using it extravagantly to buy btc at a very high rate, which is intentional.

Meaning tether cannot bring down Bitcoin but rather help in its price increase by making an artificial demand of BTC using Tether.  As far as we know Bitcoin is not dependent to USD what more to tether.  So wether Bitcoin will go down or go up does not entirely depends on Tether.

This can't happen, apart from crypto traders who uses Tether during trade who other uses it? Bitcoin is not dependent on any coin so tether don't have or will ever have what it takes to bring down Bitcoin.

Nice lines you've got here but hell no, USDT can never bring down the pace setter, it's an illusion to me. BTC remains king, that's why it's got the most of the market cap, nobody can do anything about it. Stablecoins are cool, I'm talking from the trader point of view here.

If Tether team was really making money out of thin air and pumping Bitcoin in 2017 and this gets proven at some point it will lead into a one big sell off. If this is what you mean by bringing down bitcoin it is possible.

Even if the above happens it won't destroy bitcoin so if by bring down you mean kill the coin it's impossible.

No because the sell off would be for Tether, not bitcoin, similarly to what happened last time, the value of tether went down but Bitcoin exploded upwards, people would be selling tether for bitcoins or any other coin pumping the price of those coins.

Stable coins are not forever,it will be neglected by the people once adoption rate of cryptos was considerable amount until that people will use stable coins for trading purpose,I never heard anyone holding tether for long terms which is more stupid that holding fiat money.

If it is possible, then in the short term. Bitcoin will soon be on its own. it will not depend on others, but everything will depend on it. All this thanks to newcomers to the crypto industry.

Are you sure about that? There has never been a real proof of how much tether really is backed and how much of it was made without backing in 2017 so how can you be sure that it won't affect BTC prices in future if such facts happen to surface?

If fake USDT was used to buy BTC in 2017 then the token is done because they'll go down for a fraud. Also those who hold USDT will never get all their money back and the price of BTC is too high because much less fiat was spent to buy it than we think.

Never. I believe there's no way any coin in cryptocurrency can bring bitcoin down not even ethereum. Bitcoin still remains the king and father of cryptocurrency and its backed by a large community.

the tether fiat currency is just a stablecoin that was created and can also be used to process transactions. thought it exists on the crypto currency space, it is not in anyway a threat to the bitcoin as it has its own function different from the whole volatility bitcoin is exposed to and lots more.

Stable Coin is a pathetic cryptocurrency parody. They do not need the market because they do not carry any guarantees for investors and traders. In the case of force majeure, developers of stable Coins will forget their promises and will not pay their equivalent in dollars to anyone.

Tether and any altcoins was created because of Bitcoin's ideology and it is known as the father of all coin so if there is big from other altcoins then it could have some effect on Bitcoin price though these coins are not really related but for sure there will be some changes.

all possibilities can happen and no one can predict and all the development of the crypto currency depends on the investor itself, in my opinion

Seriously? This can't happen, do you even know the potential of Bitcoin or its relevance in this crypto space. Tether is a stablecoin which can't be compared with BTC both in terms of potentials and services. Tether can't even bring down ETH let alone almighty BTC.

Tether is backed by $ and other assets and it is audited time to time but we can  never be sure if it is 100% backed. If something negative happens with Tether it will push BTC price up as it happened last time when Tether price crashed.

Bitcoin is the only coin so far that I have vividly seen that does not depend on any  other coin, be it stable or not to perform or grow, you need to first of all compare their functions and community base, if not because you are even bringing up the topic, I have never for once in my life look into the area of tether, my main focus has been on Bitcoin.

I have been using bitcoin for different purposes, investment, transactions, trading and so on, which I am too used and addicted to bitcoin than any other altcoins, I love ethereum a lot but when it comes to BTC, I dislike listening to any other system that it is being compared with, no matter how promising they might look. So a big NO to you, it is impossible for tether to do so.

But when the tether price crashed, the price is not going down too deep, and it's different from bitcoin. Once bitcoin crashed, the bitcoin price will go down in the low price and makes many people getting panic. But I don't think that tether can bring down bitcoin because tether is on the cryptocurrency and tether is just following with the bitcoin price movements.

Indeed, I have heard many times about the relationship between the value of BTC and the USDT. This may seem like a coincidence, but the time of the fall in the value of Bitcoin each time coincided with the release of new USDT coins. The cryptocurrency market is still very manipulative and this is the main reason why investors are afraid of cryptocurrencies, for them it is too serious a risk.

Tether only relies on bitcoin at times so how could it bring down Bitcoin? Bitcoin has passed all the tests of time in crypto world so I think no coin like tether could bring it down. In fact, more investors are into bitcoin more than tether since they could see how it developed and how it grows continuously.

no, Bitcoin cannot be destroyed by anyone and so far Bitcoin cannot be defeated.
Bitcoin will get better and many are attracted to it, they know the advantages of Bitcoin, so they trust Bitcoin at some point in the future to soar.
so it's not easy for other coins to drop Bitcoin.

I don't think it's going to be, there are so many coins in the market that threatened to bring down Bitcoin but we have seen the other way around, Tether and other coins in the market are being considered to bring or beat down Bitcoin but all their price still depend on Bitcoin's status in the market.

I think this will be difficult, even though there is actually an opportunity for that because in any Cryptocurrency it can happen. Bitcoin is the king of cryptocurrency, with the highest value and strong trust from the public, for this reason it will be difficult for coins to defeat Bitcoin (https://coinswitch.co/app/exchange?from=usd&to=btc). The crypto market to a whole different height altogether. As per the predictions and analysis, Bitcoin stays securely to number one position, without any close contender. Gradually, Bitcoin will be seen more as a store of value, along with it being an alternative currency.

Bitcoin and tether have some differences and the reason why bitcoin is more popular than tether because bitcoin is decentralized, and you don't need to give out your personal information to use the product, and also privacy which lightning offers right now, meanwhile tether is centralized compare to bitcoin they can make changes whenever they want, also tether is not connected to bitcoin so it can't do anything with its price.

In my opinion Tether is only a complement to crypto, it will not replace or defeat bitcoin, the price that does not change certainly makes anyone make Tether the best payment alternative, but it will not make investors put in large amounts.

yes you're right, tether won't work but this can make bitcoin better. when the tether falls it makes bitcoin better. and it is impossible for tether to rise, because he is a stable coin. so whatever happens to the tether will make bitcoin and altcoin good.

In my opinion, Tether coins cannot have a strong impact on the value of BTC. This is only possible when the market is clearly moving up or down and Tether manipulation only enhances the effect and pushes the price of Bitcoin in the right direction due to sharp spikes. People in such situations panic and begin to act on the occasion of the market.

Perhaps this is the way many people say that now the USDT prints like a machine is a digital electronic money. Therefore, BTC infusions are very similar to a bubble. Which inflates and deflates very quickly.

For a stablecoin, when it does, its value will go down and it will increase the price of the BTC. Stablecoin cannot automatically add value to any news, so Bitcoin is always more profitable. so the Tether theory can bring down bitcoin completely wrong.

Ideally a more transparent stablecoin can replace Tether and Bitcoin becomes less volatile with time

But if Tether isn't really backed by USD, surely you're just pumping fake money into Bitcoin which essentially creates a bubble like the housing market? I don't believe it will bring Bitcoin down as nothing ever has, but Tether definitely isn't healthy for the crypto economy.

I don't think so. While many exchanges are relying on BTC/USDT trading volumes. I believe it is entirely just a hedge for price declines. BTC/USD (the real fiat pair) is still the one traders look into and the real indicator of the market's health. You can also include other fiat/btc pairs.

Besides, money pours in from fiat and where do you see that happen? BTCUSD.

People make coins, of course, ambitious to become number # 1 and replace bitcoin, Tether is a fantastic token because it is easily accepted by anyone, but I'm not sure I can replace bitcoin in the near future.

Tether was said caused the down fall of Bitcoin but the reverse was the case as the fall of Tether causes the price of Bitcoin to surge. There was a speculation in 2017 about Tether be the cause of Bitcoin surge but was not, rather it was the credit card that did the surge. Tether has no power to bring down Bitcoin.

I do not believe that stable coins can have an effect on the whole crypto currencies industry. Those coins were created for only one purpose, to stay out of the market and to keep your funds on an exchange. Furthermore, nobody will invest in those coins, because they are not showing any price difference within time.

Bitcoin is unlikely to be replaced now, and Bitcoin is now a big market capitalization. There are many people who know it. I have heard a lot of other altcoins to replace Bitcoin, but they have failed. So I don't quite believe Bitcoin is replaced by Tether.

If they print fake tether that can pump bitcoin also if tether turned out to be scam bitcoin can take a hit. But tether can't bring down bitcoin, it is not possible in my opinion.

Tether is also a  coin, but a stable coin. Some people buy it to withhold the value of their money, without any form of increase or decrease in amount. So I do not expect that there would be anyone who will intentional waste his money in order to risk pumping or dumping of bitcoin with what he has. As a matter of fact, an individual cannot get that done with his tether.

Yes, Tether will always have price stability at any time, because this coin is designed to stabilize prices to have the same value as USD, so Tether is very difficult to fight Bitcoin.

Well, it is mere theory but some made it look like a fact.

The centralized and non-transparent stablecoins could potentially be used to manipulate the price of Bitcoin/cryptocurrency. 
Tether looks like a semi centralized stablecoin. It could also be used to manipulate price. I guess they would hardly do that without being noticed

Its impossible because we all know that tether represent a dollar in price so I don't see how it can bring down bitcoin,moreover there will not be anything to invest in ,no gains at all and tether can't change the world

How come stable coins are comparatively to think about the bitcoin. Tether price is stable and its value will be remain same if we see this coin after 10 years also but bitcoin is not at all like that price value will be increase gradually and people expect the bitcoin to reach the 50k USD in 2022.

 

Bitcoin is the main coin from which the whole cryptocurrency world began to be created. It is the basis and its fall can drop the entire crypto market down.
USDT is just a pathetic parody of the digital dollar. Which does not even guarantee to have a price equal to one dollar. Therefore, do not pay attention to it.

what? how stable coin can ring down bitcoin ;D one tether cost around one dollar. one bitcoin cost around 5100 tethers ;D

This, bitcoin is by far the leader of the market which means that whatever happens in other coins has very little effect on it however the opposite is true for altcoins, whenever something happens in bitcoin whether that is positive or negative altcoins find themselves severally affected by it, you just need to look a few weeks back when the price of bitcoin began to go up very rapidly and most altcoins that had not moved a lot during the last year immediately reacted to the movements of bitcoin and they began to go up as well.

That's right, Bitcoin has a very important role in the Crypto region because the king and price developments affect all coins or markets. The USDT digital currency is still low but we don't know in the future so I just hope for the best, especially in the rise in Bitcoin prices which will stabilize market prices.

Tether is basically an IOU token, but if we believe they will pay, then it cannot be worth less than 1 US dollar. So chill.

The story of Tether to date has been one of success. Within two years it has grown from storing less than $10M to almost $2.8B in value. Being listed on virtually every exchange, it enjoys massive network effects and the market trust in its convertibility has remained quasi absolute throughout its history.

In spite of the neverending hubbub surrounding Tether’s emission and unclear backing, it is these authors’ opinion that the threat it poses is vastly offset by the services it renders. Its solvency appears to no longer be in question, and while the public and the media are right to contemplate the possibility of authorities bringing USDT trading to a halt, they should not dread the aftermath. Certainly, in the short run Bitcoin price would be strongly affected, but there’s no reason why it should terminally spiral down.

It seems to survive every spiral down anyway, i'm not worried  ;)

I am more cautious about Tether that it will crash one day as it is not fully audited and it is backed not only
with $ but with other assets as well.

It is the most used stable coin which is backed by USD adding value to it. This isn't gonna bring down bitcoin for any reason. Bitcoin will be in the market same as now, it'll continue to face obstacles and it always has some solution overcoming the same. If there is some possibility for a fall down to USD, it happens only if the entire network gets shut for a longer time period which will never happen.

you're right, i think Tether's hopes of destroying bitcoin are too far away and almost impossible.
i also think like you, bitcoin will be in the same market now or in the future.

I always thought that Tether and Bitcoin are an alliance. Like, the first one helps to another.
So I don`t think that it will bring Bitcoin down. We are in the same boat.

If Tether falls, what would happen? First, there will be a sell-off of Tether meaning people will buy whatever pairs with Tether - BTC (of course), ETH, XMR, DASH, XRP, etc. They will experience a brief spike in price. What's next? Nothing.... Crypto started without these stablecoins. It's just going to be harder to move crypto assets around but BTC and LTC will facilitate it once again.

The real danger is "banning fiat to exchange with cryptocurrencies."

Tether is a stable coin, why will it bring down btc? I don't think that will ever occur, when there is a shake up in price of btc people preserve their hodlings using Tether and buy back when it is time, i see both tether and btc working simultaneously, btc is beginning of all crypto and will continue to maintain it's lead, btc has survived without tether around and even now will still continue to do so, stable coins are also important to have around just for one reason.

It's nothing like cryptocurrency, in my opinion, much like 99% of other coins and tokens are really just digital versions of normal money, backed by nothing of any real value, not even backed by security or decentralized values like Bitcoin.

No increase or decrease in amount? You should check USDT markets and see how "stable" it is. It loses value and keeps getting pumped and produced.

If it was not for bitcoin then tether will not exist so tether and bitcoin do not have a relationship as equals, bitcoin does not need tether at all and if anything tether is slowing the adoption of bitcoin, the ones that need tether are people like traders and investors which do not like to hold bitcoin for the long term and like to get out of the market when the market gives them an indication that it will go down and at that point it is preferable for them to hold fiat or a coin like tether that mimics fiat.

I don't think tether has such big power to take Bitcoin down. Stable coin is not enough and if people are going to those fiat-based, I'm pretty sure there will be more fiat-based tokens and crypto space is nothing different with fiat space.

If a stable coin takes place of bitcoin in future then it literally meant to be the end of crypto era,so people who had thing though need to think why they need stable coins which is centralized and against the decentralized payment system.IMO,stable coins will not survive too long,they have high hope until the coins were traded when crypto comes for payment then exchanges and stable coins will lose its demand.

there is no relationship between bitcoin and tether even though people associate it the 2017 bull run of bitcoin to be caused by some tether manipulations but this is not so. people just want find a common factor like tether that will seem to be the one responsible for bitcoin bull run. however, bitcoin value and price is not dependent on tether so it cant affect it.

How can Tether bring down or replace Bitcoin, when it is an entirely different type of asset. Tether is the online version of the United States Dollar and its value is exactly equivalent to the exchange rate of USD. On the other hand, Bitcoin is an independent currency, and its exchange rate doesn't have any connection with that of the USD.

I think a more logical question to ask would be: "Could Tether bring down credit cards?"

The tether cannot take down Bitcoin because it is Stablecoin and it has a high degree of stability, so it is unable to compete with Bitcoin. Tether is a safe choice when the market falls so when the market is stable and growing there will not be any investors who want to hold Tether because it is not profitable for them.

Reported today that Bitfinex used Tether reserves to mask missing $850 Million which sounds very shady.