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Author Topic: My two cents on the USDT-conspiracy FUD  (Read 116 times)
Sepia Sundae
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November 06, 2017, 10:42:42 AM
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I hear a lot of FUD about a conspiracy that includes issuing of great amounts of USDT to manipulate the price of BTC. You can find the issuings here: https://omniexplorer.info/lookupadd.aspx?address=3MbYQMMmSkC3AgWkj9FMo5LsPTW1zBTwXL

What I think is the following:

- When the price and volume of BTC pumps rapidly, this means there is a lot of trading going on
- When you trade BTC there are 3 options:
 
  • Trade for fiat
  • Trade for USDT
  • Trade for alts
- Because the price of USDT is fixed @ 1$, you need more of it to handle bigger volume and price of BTC

Ergo: you need to issue extra USDT to be able to accommodate trading

One could even argue this is a good thing, because if all the people that are trading via USDT would do it via fiat, there would be a dip in total crypto marketcap, which could lead to FUD with a whole lot of other consequences.

Disclaimer: I do not endorse USDT and don't want to say in any way that there is definitely no market manipulation regarding USDT
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