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antisocial77
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August 08, 2019, 07:18:12 AM
 #1

Hello all.can anybody tell me a relation between tether and bitcoin? I see 2 groups, some people say tether helps bitcoin price to move up, others say its a cancer of the market.

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August 08, 2019, 07:54:33 AM
 #2

Make a research, don't just assimilate on what you read from random sources. USDT is somewhat significant to CT industry except for those people behind it.

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August 08, 2019, 08:02:43 AM
Merited by OmegaStarScream (1)
 #3

This has been circulating on the news and you can research those articles that where you can gather information regarding their connection.

Like these news/articles:

$150 Million in Freshly Printed Tether To Cause Bitcoin Price to Surge

Statistical analysis of Bitcoin price manipulation by Tether issuance in late 2017

Study Finds Little Correlation Between Tether Printing and Bitcoin's Price

There are more but I think this is enough.

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August 08, 2019, 10:55:33 AM
 #4

Tether is just a stablecoin. Intermediary between BTC and USD
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August 08, 2019, 11:05:34 AM
 #5

most things you read about Tether are true but greatly exaggerated specially when it comes to its relationship with bitcoin price. the link doesn't even make any sense if you think about it because creating an altcoin and then buying bitcoin with that altcoin can not even affect bitcoin price versus USD!
if you say Tether supply caused bitcoin price rise then the same can be said about any other altcoin, ETH, XRP, LTC, DASH,.... also print more coins and they can be used to buy bitcoin but none of them can affect bitcoin price versus USD because it is not the same market.
not to mention that during 2018 where bitcoin price was falling, they were still printing new tether just like before. so why was price falling?

with that said Tether is a cancer in this market because it is a centralized coin that is also shady. they keep claiming to be backed by real fiat but they can not produce enough evidence for it and there is a good chance they are lying.

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August 08, 2019, 12:27:47 PM
 #6

Thank you all for explainations and links.however its not easy to understand completly.for example, we know there wlll be 21 m bitcoin.if we are talking about btc/usdt and if there will be more tether than 21m what will happen? This is literally inflation.plus there are many stable coins not only tether.

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August 08, 2019, 12:45:43 PM
 #7

A lot of rumors that they have been printing USDT without the dollar reserves to back up the printed amounts.  I wouldn't hold any money in tether in case they end up being worthless as everyone tries to convert form USDT to BTC if they are exposed.




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August 08, 2019, 12:51:46 PM
 #8

Observed many of these Tether related threads popping up recently talking about how it affected BTC surge in value recently. I can understand how Tether could have been linked to the rally in this case, but there are many other factors too.

The market underwent a correction recently and now it is simply moving in the opposite direction. This market does not always require a specific reason to move upwards or downwards.




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August 08, 2019, 01:04:55 PM
 #9

There are two faces of reasoning with this and in debate it might take long and end will still be the same.

The first face is that for some users it made a lot of difference. Why?
They can easily buy bitcoin now with the use of USDT.
The other face is not in agreement with the other one. Most of them are veterans who used to make profits using the bitcoin up altcoin down trend.
It happened for a long time but now you can see no movement with altcoins even with bitcoin soaring.

Inflation as you said it. It should have happened even before with a lot of altcoins out there but it didnt.

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August 08, 2019, 02:30:56 PM
 #10

the main usage of tether is for altcoin trading not even for bitcoin. there is only one major exchange called Bifinex that is doing bitcoin/usdt trades and that is only because they own and print tether themselves and have no other option ever since their banks closed all their accounts a couple of years ago.

other than that if you check all the altcoin exchanges, the major ones, all have USDT and use that because they don't want or can't add fiat.
and that is why they have been printing a ton of it in 2017 and 2018 because a ton of altcoins were created, pumped and then dumped in those two years and the market needed it.

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August 08, 2019, 02:59:19 PM
 #11

Thank you all for explainations and links.however its not easy to understand completly.for example, we know there wlll be 21 m bitcoin.if we are talking about btc/usdt and if there will be more tether than 21m what will happen? This is literally inflation.plus there are many stable coins not only tether.

You are incorrect. Tether cannot harm Bitcoin in anyway, no matter what they do. The same thing was brought by certain someone in another thread, but using fiat instead of an inflationary altcoin.

Tether can "print" all they want, but they would be unable to buy bitcoin in the same fashion as they print, because every extra Tether created and used to buy those bitcoins will cause the price (in USDT) to rise. There is no way around it, they just can't, no one can.

Also, do not fall for Tether lies. They are using fractional reserve, try to research a little on that, its what banks do. Hint: Its the sole reason banks can go bankrupt. A bank with full reserve, can never go bankrupt.

This should give you the hint: Tether can crash, hard. Bitcoin won't be affected by that.

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August 08, 2019, 03:03:07 PM
 #12

Tether was supposedly backed by assets and had a shit show of drama not too long ago because they were investing and putting the backed assets that give tether value at risk. I would use a different stable coin if one is needed for altcoin trading.
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August 08, 2019, 07:23:01 PM
 #13

I think Tether is a alternative for Fiat and he is a stablecoin, and I agree that Tether helps BTC move up
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August 08, 2019, 08:29:14 PM
 #14

I think Tether is a alternative for Fiat and he is a stablecoin, and I agree that Tether helps BTC move up
Eh, not the best alternative for fiat currency though considering all of the news about Tether in the recent past. There's much better alternatives out there to Tether that are also accepted in a variety of services and exchanges such as USD Coin, which is backed by Coinbase and backed 1:1 unlike Tether, which is likely running a fractional reserve as Artemis3 noted. The printing of Tether sometimes does but not always precede a rise in the price of Bitcoin though.

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August 08, 2019, 08:50:59 PM
 #15

I believe tether does help in btc trading, and in a way you can say it helps to move bitcoin price up
tether is a crypto representation of fiat money, supposedly at a fixed rate 1:1
so it helps traders to move their (fiat) money from an exchange to another exchange easily
hence it contributes to liquidity, higher trade volumes and chances of bitcoin price increases

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