Bitcoin Forum

Tether is being printed out in large numbers since March this year. Before printing 6 billion Tether more today they released 15.6 billion Tether. We currently have 21.6 million Tether.
I think the more Tether there is, the easier it will be for the price of Bitcoin to go up.
https://twitter.com/CryptoWhalebot/status/1318956720723550209?s=19
https://i.imgur.com/lcgKSnu.jpg

I've never recognize this during the 2017 bull run.

There were series of printing by that time and with the hype of initial coin offering, it made easier for bitcoin to reach the peak of $20k. It is contributing to the increase that we are experiencing.

But one major reason that we see is the adoption, a real adoption is happening like the Paypal news.

The increasing demand for stablecoins and usdt signifies only one thing and that is the demand for crypto assets is on the rise which can easily justify the expected bull season which seems to have just started with recent breakout in btc price.

In 2017 Bitcoin increased in price due to the more money pouring into the Crypto market due to ICO activities, investment funds began to pay more attention to Bitcoin and pulled the price of Bitcoin up. Bitcoin's value at that time was more FOMO than when people first learned about Bitcoin in the media.


Relationship in Tether's expansion and Bitcoin's appreciation in the Tweet below.
https://twitter.com/filbfilb/status/1313262658825715713
https://i.imgur.com/lNcGPHX.jpg

https://i.imgur.com/nrjxK7q.jpg

Paypal has good news and helps Bitcoin to rise in price quickly but I am looking into stabilizing how Bitcoin's price rise is organically related to the release of more Tether.

More tether probably imcreases the price of bitcoin in shirt term but I won't call this as bull run,its just inflating the asset where bitcoin is the asset.More stable coins gets printed the more diluted the crypto market will be is not a good thing for the future of cryptocurrencies.

https://coinmarketcap.com/currencies/tether/

Volume of Tether USD does not spike after the new minting round. I don't see there is serious thing happens with the new supply of Tether USD. The chart from coinmarketcap tells me that volume has a 3 months increase after a rise of Tether USD supply. If history will be repeated, we might see an increase in volume of USDT in January or February of 2021.

It looks like CMC is not yet updating it as the total supply that has already published on CMC is still around 15.6 billion tether.

I just got amazed about 6 billions tether being added to the market and the question should be where is the company getting these money? these have no active income and then what?

The real money machine that has owned by tether.  :D

PayPal allows Bitcoin and crypto spending
 (https://www.bbc.com/news/technology-54630283)
That is the main thing that cryptocurrencies have to strive for in order to survive and be in demand by people. Mass adoption is a must, in order to make cryptocurrency a strong currency.
The latest news about PayPal yesterday, also had a positive impact on Bitcoin, just because PayPal released a new feature for buying, spending and storing with Bitcoin, the price of BTC went up 10% in 7 hours.
The price of BTC will continue to rise along with new adoptions by large companies

If based on the evidence you mentioned there is a possibility that this will happen, because more USDT in circulation indicates a large wave of investors entering the market,
but there is no guarantee the price of bitcoin will rise above $ 20,000 in 2020,
It should be in one or two weeks you will be able to see whether the price of bitcoin will be pumped higher or not, because there is a possibility that more USDT will be minted for preparation if the Bitcoin price suddenly down.

if an asset's price is going up for the wrong reasons, the price will go down even easier.

DeFi and stablecoins are dangerous. DeFi are all most likely scams, and stablecoins are not well understood by the majority of the investors.

USDT is not USD, although people act as if it was.
USDT is just a promise that one day bitfinex will pay 1 usd for each usdt. They may not keep that promise.

Yield Farming is like a networking scam out there. People are earning as long as there is demand for the coin but the price is only up because of the hype as there's no real world usage for those tokens. People are taking a loan just to get these yield-based tokens but can be in danger of being liquidated if there's is a big price swing.

They actually ask for a small fee for whenever you make a conversion from USD to tether or vise versa (You can see it here from their website https://tether.to/fees/). Now just imagine how much money are moving around the market this time, you'll get an idea on how much they are making. Also, add their personal business and assets then you'll see how that 6 billion tether came from.

just imagine if one day the u.s or europe audit/ban tether, oh the bloodbath of tether and pump of crypto as everyone would dump at any price for other cryptos

usdt printing definetly about upcoming btc pump, tether massive printing happen at crypto massive dump in march

from 4B$ and now 21B$, there is lot of money tether printing for upcoming bull run

same as usdc they printing more coin lately...surely these good sign for crypto, specially for btc

Yes, adaption is the key. The reason why tether are printing this huge amount of USDT is because there's a lot of new fresh money enter in there treasury which means more investors are entering into crypto same with 2017 bull run. PayPal news is just tip of the iceberg and I believe that there are big news behind this besides PayPal news.

Let's wait another week for confirmation of this thread. Showing weakness again will result to new lows.

Will the USDT fluctuate more against the USD?
Printing this much makes me even more disbelieving that USDT is backed up by real USD, and USD is really in the company's pocket.

This is actually what everybody thinks about this shady stablecoin although they have a full transparent report and a statement from there legal attorney since 2018 which makes this stablecoin a bit safer and legitimate. You can find all the details on there main website but you can check the attached link for the direct for transparency report.

Transparency Report: https://wallet.tether.to/transparency
Proof of Funds: https://tether.to/wp-content/uploads/2018/06/FSS1JUN18-Account-Snapshot-Statement-final-15JUN18.pdf

Other stablecoins are audited every month.

USD Coin (USDC)
https://www.circle.com/blog

TUSD(TrueUSD)
https://real-time-attest.trustexplorer.io/trusttoken

Show me the latest audit reports of USDT.

And read my topic about Tether
https://bitcointalk.org/index.php?topic=5247581

It is possible that the purpose of the Tether issue of these billions of USDT is to buy up bitcoin on the market for their own purposes. Thus, they simply exchange their USDT for liquid BTC for the further purpose of manipulating the cryptocurrency market.

Why not trillion from helicopter

Don't forget about the printing of Tether by that time. Two things combined and made the market fruitful and made every crypto into bull run.

And with the scenario that we have for this year. We have the Defi, Paypal news and the continues yet surprising printing of Tether. All of these I think are combining their market shares which made bitcoin up.

Paypal made bitcoin more expensive, and for some reason I think that this is only the start of a rise in price, and after adjustment, the price will surely creep up significantly.

Way to go tether. They are already the third largest by marketcap and they'll soon win every of them to come the number one.
They just need to whirl their wand and mint some more coins. "Power resides where men believe it resides. It's a trick. A shadow on the wall."
They just need to mint coins and keep buying bitcoin and when they have a lot of coin, they can control the whole crypto market. But before that, I think their bubble would burst and many people would get hurt.

I am confident that having more Tether will make bitcoin more stable in value. Based on the chart showing the progression of Tether issuance and increasing the value of Bitcoin. I believe that Tether will be good for Bitcoin value enhancement. The additional issuance of Tether also testifies to this company's confidence in the cryptocurrency market.

We have learned one of the reasons why Bitcoin has risen in recent days. Whenever tether is released, the value of bitcoin increases. If we follow all kinds of developments regarding Tether closely, we will get more detailed information about bitcoin.

So here we have the real reason for the price of bitcoin moving up, mostly everyone was claiming the PayPal acceptance was the reason for the market to move higher and now we have a solid reason as we have seen in the past that whenever the price of bitcoin rallies there is a background where there are billions of Tether being minted and we had are doubts about how they are doing it without much transparency and even now there is not much transparency but billions of Tether are in circulation now.

There is a lot of information which can push bitcoin price or all altcoin price goes up, we have seen it until now. Bitcoin price has touched back its all-time for this year even that price has been surpassed, so we have a high opportunity to see the bull run market comes before the end of this year. More than that,  I just happy that bitcoin was trusted as a store of value or as a safe haven asset when the crisis comes. As we can see now, when many sectors and other investment venues crippled by this pandemic but bitcoin and gold have shown that they deserve to be chosen as a safe investment place.

If the DEFI hype is real, I do think we have nothing to worry about, people need to understand hat there are a lot of free money around now, that people are looking for where to invest and with the nice exposure Crypto is getting now, I think we will see more of this Tether printing. I think Tether marketcap will soon hit $100 Billion as Bitcoin price continue its bull run

As the market has unfolded its direction now and community is assuming a big journey towards north we will see more and more usdt being minted, more hype and fomo which will result in taking the market to the moon.

DeFi hype, is it real? Yes it is. The market and involved investors have witnessed the hype of DeFi. Free money is not real and the real free ones are shit tokens. If you are lucky to grab huge shit tokens but later those tokens have high price, you can get a fortune from free shit tokens. Most of shit projects fail and their tokens have low price.

About Tether USD and a new supply of USDT, last 2 days, Bitcoin broken the cap at $12k and aimed at $13k. People are talking about the new supply of USDT help bitcoin to rise like that. Believe it or not and it is right or not, I am not arguing here because I know there will never reach to final conclusion. Simply enjoy the ride of Bitcoin, and forget about USDT.

Did you meant bitcoin and tether has a very strong correlation?

This has become a very old story that when tether has played the very important role to pump the price of bitcoin. Just remember about the theory that has already sounded by some people in the past when tether has been minting USDT and it will always be used to buy Bitcoin. Idk how this mechanism was working but it has been happening since a few years ago.

By seeing this demand we can say that cryptocurrency adopting is inevitable. People are involving new project through IEO and ICO and that increase the demands of stable coin. People like to use stable coin instead of BTC is because of BTC and other alts volatility. But you are saying BTC price goes up because of USDT printing but I don't not is there any correlation between them?

It definitely reaches to a whole new level right now, first of all I honestly think it should be removed from the coinmarketcap type of places because it is certainly not a coin itself, it is basically just a fiat thing that has a blockchain behind it and nothing else.

Secondly when something becomes third biggest project in crypto world with absolutely no decentralization at all is a scary situation, it shouldn't be this free and it shouldn't be creating this much power for themselves, they have enough power to basically destroy the market as a company, that is the epitome of centralization. This is why I see this as a bad thing and not a good thing, the moment they decide to scam or just die we are going to end up with a whole lot of bag and it will be very hard to recover from that.

By the time the market capitalization reached ATH (more than 800 billion USD), the market cap of USDT was only 1.5 billion.
Currently, USDT's capitalization has increased 10 times along with many other stablecoins, but the market capitalization is only nearly half of that of ATH. So maybe a big bull run is coming?

That is happening, Bitcoin is having a strong chart, there is a lot of USDT to buy into Bitcoin. In 2017, there was too little USDT to buy Bitcoin and I found that 1USDT was about 20% more valuable than 1USD . That shows the huge market demand for Bitcoin.
Every time Tether issues more USDT, Bitcoin increases in price to a higher level. Along with the chart, we can see that USDT is supporting Bitcoin on its way to a new ATH.