If convicted, will Tether USDT crash the markets?

[danielhodous]

This is a Lehman brothers moment coming here so similar to the 2008 housing bubble

What?  
The one that is "crypto insurance”
The one that would truly rattle the market to maybe another 60%+ drop or more?

Tether.

Whether you are in tether or not it’s one that if proven to not be backed would trigger panic like no other.  
Zero faith to run and hide and hedge.  
All the other cryptos would start dumping to fiat, which would show the ineptitude of coinbase and others not being able to fund the "run on the banks".
The destruction of tether would take BTC to under $1000 I guarantee this.



The Crypto-cartels or as some call them Whales.
Only they can save the market by propping up AIG (sorry, tether).  
Our federal reserve (the crypto cartels) will have to save the cryptos from annhilation by showing a balance sheet of fiat large enough to back the one insurance policy we have Tether.
Which is PROBABLY why the market has gone down 50% since end of year... I imagine most of the CryptoCartels have sold off to prop up AIG (dammit sorry, Tether)

Think I’m wrong and wearing a tin foil hat.. that’s cool.  

I find it humorous that true believers in crypto and all its libertarian Utopian ideals.. have allowed a quasi federal reserve to form... not only with abilities to shape market conditions, change the supplies of our coins, manipulate price at their whim, Develop insurance scams against dips in market to protects us from massive failures (that shouldn’t exist!!!!).

Allowing them to get so much power in the first place and WE INVEST in a derivative like Tether, all the while it’s backed (supposedly) BY FiAT and we TRUST IN THAT?!?!!!!!  
Now we have to HOPE, and PRAY that our overlords can prop up Tether and back it by enough FIAT to prevent a market disaster of biblical proportions.


To quote the son at the end of Diggstown talking to his defeated father who scammed a town, and then, got out conned by a better con man in James Woods “You deserve to lose”.

None of those have any effect on my use of bitcoin. I don't touch alts because they always end up like this. It comes as zero surprise to me that Tether is not backed, I never thought they were. You have to set yourself up to take a fall with alts. I'm good with bitcoin.

I hope you don't really believe that... the market manipulation using USDT is well documented.  Bitcoin will fall hard if tether isn't backed... you'll know its happening when bitcoin goes up 50% + in one day.  Since BTC is more weighted and tied to USDT than USD the flood of users out of USDT to BTC will for a couple hours skyrocket the currency... then it will crash hard. 

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[hosseinimr93]

I don't think so.
I think this news not only don't cause the price to fall, but also it causes BTC price to rise. Many USDT holders will convert USDT to Bitcoin. USDT is an altcoin same as other altcoins.

[clrpod]

I hope you don't really believe that... the market manipulation using USDT is well documented.

Please provide this well documented evidence that you have that seemingly no one else can get their hands on.

Bitcoin will fall hard if tether isn't backed...  you'll know its happening when bitcoin goes up 50% + in one day.  Since BTC is more weighted and tied to USDT than USD the flood of users out of USDT to BTC will for a couple hours skyrocket the currency... then it will crash hard.  

I don't think that this will have a knock on effect to the USD/BTC price but it is a good point, meaning I don't think USD/BTC will increase sharply before falling harder.. If there are people with insider knowledge that Tether will be exposed within a day or so then they'll rush to sell USDT. I think the more likely route would be to sell USDT for USD however, if they have any sense they'll realise that once Tether falls then bitcoin will too.

[RodeoX]

I hope you don't really believe that... the market manipulation using USDT is well documented.  Bitcoin will fall hard if tether isn't backed... you'll know its happening when bitcoin goes up 50% + in one day.  Since BTC is more weighted and tied to USDT than USD the flood of users out of USDT to BTC will for a couple hours skyrocket the currency... then it will crash hard. 

I know tether is not backed by dollars. It's laughable to think such a thing is even possible. So it has zero effect on my decisions about bitcoin. If some exchange was duped into believing such nonsense then they should fall. Alts are crypto for the foolish.

[flippener]

I think it could be the end of Bitfinex, and will cause a dip (temporarily) in BTC.

[Verona25]

Making money on investments and investing in bitcoins is pretty simple, the main thing is to know what the risks are.