Could Tether Bring Down Bitcoin?

[Hannahanto]

"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

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.

[Aniwura]

News isn't true all the time, some news says after Tether release BTC price will pump. That's right people want to stay safe exchange to USDT.

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.

[BitcoinPanther]

News isn't true all the time, some news says after Tether release BTC price will pump. That's right people want to stay safe exchange to USDT.

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.

[Flezy]

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.

[abake]

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.

[pixie85]

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.

[Astargath]

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.

[semobo]

"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

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.

[kleshovab7]

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.

[pixie85]

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.

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.

[Kay94]

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.

[jerrison]

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.

[Ben Shedly]

"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

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.

[EnormousCoin101]

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.

[Dessy88]

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.

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

[irixo10]

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.

[avonka]

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.

[BlueStackz]

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.

[ethereumhunter]

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.

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.

[babicena14]

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.