What will happen in the new bullrun without the past huge power of Tether?

[LLooctor]

Anyway, stable coins are needed, but the question is whether it will be a Tether or not. So far, it simply has no competitors with its liquidity and giant volume, while algorithmic stable coins haven't shown great results.

[greylandm]

It is surprising that the USDT is still alive. Well, at least the SEC is watching, the feeling that the Tether team should behave more or less legally, otherwise there is a risk to get in jail.

[talkbitcoin]

Tether at this point is more like loch ness monster, there maybe there but it is made bigger than it really is. the fact is, Tether has become a big part of the trading community specially among altcoin traders who want to escape the big altcion dumps but in the end bitcoin has never depended on it and more importunately its price rises so far had nothing to do with it.

[Ucy]

The tether controversy and  allegations were unproven. It either true or it was used as cover for the real manipulators.
Tether existed before that 2017 pump without problems.
The market need not to move so fast this time.

[shesheboy]

This bull run won't be the same as last year. whatever the reason, it's difficult to make things like that. especially without Tether's help this is just like a mediocre increase.

How can you say that ?  Cant you see the price is now increasing , this can be a sign bull run . and its also too early to tell because we are still starting the year  .  wait till we reach the month of october and up .

 that months are said to be the make or break of the cryptos  but im pretty sure that the value will be the same again as what we experience before on the year 2017  . how much more next year when there will be a said halving   .

Tether on the other hand is only a stable coin  .  its usefull but the price of bitcoin and bull run will not depend on it 

[o_e_l_e_o]

The tether controversy and  allegations were unproven.

Unproven maybe, but very strongly implied, and Tether have done nothing to try to prove the claims incorrect.

There have been a number of shady activities which strongly suggest that Tether do not have the USD backing that they claim. They released a very vaguely worded letter from an unknown bank residing in a tax haven saying they have a "portfolio cash value" equal to USDT. Portfolio cash value means any asset when sold for cash. They also quietly dropped the 1 USDT = 1 USD statement from their terms and conditions, and replaced it with a similarly vague statement about being backed up by a variety of assets. They could print 100 million USDT from thin air, use it to buy bitcoin, and then claim the USDT is fully backed up.

They could quite simply submit to a full audit any time they like (or at any point over the last 18 months since these allegations started), and the whole thing would immediately be done with. The only reason they have for continuing to refuse an audit is if they have something to hide.

[MortalCrypto]

Not that I'm a fan of Tether, but in recent years I have heard so many rumours on it, and it still works. It seemed to me it was mostly FUD.

Exactly. Tether FUD is used to pump and dump the price. But people no longer react much to this.

[minersday]

In as much that the market value of Bitcoin within the past two months has seen a massive increase in its market price does not strongly predict that Bitcoin will soon hit the $20k value like in 2017. And this time around I don't really think USDT (Tether) has an influence on the increase in the market price of Bitcoin. 

[pokermaniacxxx]

The tether controversy and  allegations were unproven.

Unproven maybe, but very strongly implied, and Tether have done nothing to try to prove the claims incorrect.

There have been a number of shady activities which strongly suggest that Tether do not have the USD backing that they claim. They released a very vaguely worded letter from an unknown bank residing in a tax haven saying they have a "portfolio cash value" equal to USDT. Portfolio cash value means any asset when sold for cash. They also quietly dropped the 1 USDT = 1 USD statement from their terms and conditions, and replaced it with a similarly vague statement about being backed up by a variety of assets. They could print 100 million USDT from thin air, use it to buy bitcoin, and then claim the USDT is fully backed up.

They could quite simply submit to a full audit any time they like (or at any point over the last 18 months since these allegations started), and the whole thing would immediately be done with. The only reason they have for continuing to refuse an audit is if they have something to hide.

A number of shady activities? You mean the rumors that the media kept talking about, bribed by their competitors?

[Nunoluck]

Hi everyone,

I've read lots of articles explaining that one of the major reasons of the run to $20,000 back in 2017 was the money machine printer known as Tether (USDT). What do you think it will happen this time regarding this?

I ask based on tweets like this:

https://twitter.com/Stami_/status/1115217112262483969

Thanks!

I think the major reason of bitcoin increasing price now is the bitcoin market equilibrium that reached and happened for few months ago. Now this is the time for the increasing demand that made by adoption that still growing make the price move up. I don't think that other altcoins such as tether or etc are become the reason of this bitcoin increasing price.

[sopanbmp]

USD Token is only a stable coin, not will impacted on Bitcoin. the use of USDT  is for make trader easy to cash out in digital money without Withdrawing to the Bank Account.

[Johnzky]

So what tether got yo do with the bullrun?lol USDT is not the reason why we reached the 20,000$ in December 2017 so don't dream that without this we can't reach ths top again

We will go to the highest value in right time and not just by hype so be ready because we are closer there

[o_e_l_e_o]

A number of shady activities? You mean the rumors that the media kept talking about, bribed by their competitors?

It's not a rumor that they kept changing their terms and conditions, downgrading what they claimed Tether was backed up with. It's also not a rumor anymore that there is currently a $850 million shortfall in Tether's reserves - that is a fact accepted even by Tether themselves.

If these were all rumors being paid for by their competitors, then why would Tether repeatedly refuse to allow an independent audit. They could have settle the entire thing overnight. The reason they didn't is because they never had the funds they claimed to have, which they have finally admitted.

[pokermaniacxxx]

A number of shady activities? You mean the rumors that the media kept talking about, bribed by their competitors?

It's not a rumor that they kept changing their terms and conditions, downgrading what they claimed Tether was backed up with. It's also not a rumor anymore that there is currently a $850 million shortfall in Tether's reserves - that is a fact accepted even by Tether themselves.

If these were all rumors being paid for by their competitors, then why would Tether repeatedly refuse to allow an independent audit. They could have settle the entire thing overnight. The reason they didn't is because they never had the funds they claimed to have, which they have finally admitted.

I still don't believe it. Me and my friends have never had any problems with tether. And often all the attacks of the media in the end turned out to be rumors.

[o_e_l_e_o]

I still don't believe it. Me and my friends have never had any problems with tether. And often all the attacks of the media in the end turned out to be rumors.

Well then you aren't paying attention. Tether's General Counsel, Stuart Hoegner, as well as other lawyers representing Tether, have published multiple documents stating quite clearly that Tether is not backed up 1-to-1 with USD as they claimed.

https://www.scribd.com/document/408190972/Stuart-Hoegner-Affidavit-4-30

representing approximately 74 percent of the current outstanding tethers

https://www.scribd.com/document/408190969/Zoe-Phillips-Filing-4-30

would cover approximately 74 percent of the outstanding amount of tether

You've never had a problem with Tether because that's how scams work; everything works fine until suddenly it doesn't. It's in their best interests to make everything work normally for as long as possible, to lure in as many people as possible, and to maximize their profits when they do suddenly declare themselves insolvent, exit scam, disappear, or whatever.

[squatter]

USD Token is only a stable coin, not will impacted on Bitcoin. the use of USDT  is for make trader easy to cash out in digital money without Withdrawing to the Bank Account.

Bitfinex redeems USDT for USD, which can be used to buy cryptocurrencies on its exchange. So, when Tether is redeemed this way, it can drive prices upwards. I believe this is the mechanism the CFTC has been looking into regarding its recent investigation into Bitfinex and Tether.

[Cuk0ng_bitc0in]

I think Tether and printer machines have not had a big influence on the bullish market today and in 2017.  a few days ago Tether made a good contribution to Bitcoin.  but the biggest element that makes BTC bullish is the wgale and investors who begin to trust BTC and the crypto world again.

[niisarearning]

Hi everyone,

I've read lots of articles explaining that one of the major reasons of the run to $20,000 back in 2017 was the money machine printer known as Tether (USDT). What do you think it will happen this time regarding this?

I ask based on tweets like this:

https://twitter.com/Stami_/status/1115217112262483969

Thanks!

Based on my experience also i witnessed the bull run . It was initially started because of BCH fork success were people got 400$-1000$ worth of Coin by simply holding Bitcoin in wallet . Soon after Segwit2x or B3x and BTG fork announce people started to grab bitcoin for getting free coin after fork . Were Segwit2x expected to major change in crypto space . Once it cross 10000$ mark . It took momentum became talk of town reached 20 K in No time . If USDT was the reason now more stable coins are out there If your point is true then this time it will hit even harder.

[pokermaniacxxx]

Not that I'm a fan of Tether, but in recent years I have heard so many rumours on it, and it still works. It seemed to me it was mostly FUD.

It is, the media and not only they falsely accuse Tether in many ways. A recent case with ny ag only proves their innocence and honesty.

[o_e_l_e_o]

It is, the media and not only they falsely accuse Tether in many ways.

Did you read my last reply to you above? The accusations aren't false because Tether have confirmed them. They have admitted multiple times via multiple lawyers and their general counsel that they lied about every USDT token being backed up 1-to-1 with USD. If everyone wanted to turn their Tether back in to USD, they wouldn't be able to and Tether would collapse. Just because you haven't had a problem with Tether yet doesn't mean anything.