usdt tether market cap grows from 4,6 billions to 10,800 billions from March

[poodle63]

Do you need to ask? Of course, they don't have enough fiat to back up their amount of 'printing' USDT. As you see, every time market rally and set a new record price in term of stable coin USDT, they will 'printing' like this. A good reason why sometimes, out market crashing because of bad news and lack of trust for USDT.

How is it possible while USDT is still getting a lot of trusts? did you watch the market before? it has billion as a daily trade volume. I do agree it's not all backed by some parties are also being difficult to do an audit for the tether. This company is only lack of transparency.

[meanwords]

How is it possible while USDT is still getting a lot of trusts? did you watch the market before? it has billion as a daily trade volume. I do agree it's not all backed by some parties are also being difficult to do an audit for the tether. This company is only lack of transparency.

They most likely don't have the USD to back those stablecoins but they said that they have other assets which will help back those stablecoins.

How are people trusting it? It's a known and most listed stablecoin in the market right now. It's not like it's being used to hold USD anyway, most just used it for short-term trading like changing from Bitcoin to USDT to other cryptocurrency so they wouldn't care much.

[sandos]

usdt tether market cap grows from 4,6 billions to 10,800 billions from March 2020

For last week - when btc jumped from 9 000 to 11 000 - tether issued 800 millions usdt

Do you think tether really has fiat for backing this usdt? 

Currently they have not been able to prove it yet, there have been many accusations about USDT that they do not have the Fiat amount corresponding to USDT being circulated. If it is true, it is likely that USDT will collapse in the future and cause many people to lose money

USDT will never be able to collapse because basically this coin has a very important role in the crypto market, and almost all exchanges have this trading pair. There are many allegations about Tether but this stable coin still stands in the market, and no one is disappointed to use. If USDT disappears then perhaps everyone in this market will lose money because Bitcoin and USDT are often interlinked and will be very unlikely.

[chattingtut]

From August, 1st up to today -
at binance => diffrence between total purchased volume and total sold volume of btc = about minus 27 000 btc
more was sold than bought

issued usdt from August, 1st up to today => 800 millions usdt

price of btc today is same as at August 1st

[kindbtc]

usdt tether market cap grows from 4,6 billions to 10,800 billions from March 2020

For last week - when btc jumped from 9 000 to 11 000 - tether issued 800 millions usdt

Do you think tether really has fiat for backing this usdt? 

This is really bullish for the market as usdt has become a new standard to enter the crypto market which means that new money is flowing into the market as more usdt are minted also we can easily assume the trend with new usdt being minted for me it simply means more demand for crypto and more people want to buy crypto and being a big crypto company i am sure bitfinex will have a clear account regarding usdt.

[Tipstar]

usdt tether market cap grows from 4,6 billions to 10,800 billions from March 2020

For last week - when btc jumped from 9 000 to 11 000 - tether issued 800 millions usdt

Do you think tether really has fiat for backing this usdt?  

Tether with so much of accusation has done nothing to verify their backing. I've been trying to avoid USDT as much as possible. Switched my base currency to USDC but many exchanges still only let users trade with USDT. Even in binance, the default trade window is BTC/USDT and in hurry, people may mistakenly sell BTC for Tether.

[20kevin20]

USDT will never be able to collapse because basically this coin has a very important role in the crypto market, and almost all exchanges have this trading pair. There are many allegations about Tether but this stable coin still stands in the market, and no one is disappointed to use. If USDT disappears then perhaps everyone in this market will lose money because Bitcoin and USDT are often interlinked and will be very unlikely.

As far as I know, Tether has even the ability to seize your funds if they consider it's reasonable to do so. An USDT collapse is actually a higher chance than a bank collapse imo - and banks do collapse every now and then.

The stablecoin still stands in the market because who the hell wouldn't sustain their own coin and print as many gazillions of USD out of literally thin air? I personally wouldn't put my trust in it at all. If you are basing your trust in USDT solely from the fact that it's been out here and used for many years, I think it's a quite silly hope for something that doesn't even have proper fiat backing proof.

[WeedGoW]

No, I don't think USDT has enough Tether to issued for all of their market caps. At least, not for a single time demand with everyone trying to cash out their Tether for real USD fiat. The market could crash if everyone does that.

As far as I know, Tether has even the ability to seize your funds if they consider it's reasonable to do so. An USDT collapse is actually a higher chance than a bank collapse imo - and banks do collapse every now and then.

The stablecoin still stands in the market because who the hell wouldn't sustain their own coin and print as many gazillions of USD out of literally thin air? I personally wouldn't put my trust in it at all. If you are basing your trust in USDT solely from the fact that it's been out here and used for many years, I think it's a quite silly hope for something that doesn't even have proper fiat backing proof.

Banks at least have every tool they need to control the flow of fiat by either limit number of cash each person/per day or gold reserve to stabilize the market. USDT? I don't think they can do that, yet.

[Jating]

And if you look at Tether's daily volume, it is on top, with 35% against BTC's 24%.

https://coinmarketcap.com/currencies/volume/24-hour/

So it doesn't make sense, however, we all know that Tether can print anytime they want but the real question is it real 1:1, seriously doubt it. And because they themselves admitted it already, why are people still trusting them? There are a lot of options right now, as stable coins are also making their way now, so it is better to stay away from Tether, in my opinion, very shady company.

[chattingtut]

August, 29

usdt

Total Assets   $13,458,090,864.97

From July, 29 - was issued about  $2,700,000,000 

[Metall303]

usdt tether market cap grows from 4,6 billions to 10,800 billions from March 2020

For last week - when btc jumped from 9 000 to 11 000 - tether issued 800 millions usdt

Do you think tether really has fiat for backing this usdt?  

Tether with so much of accusation has done nothing to verify their backing. I've been trying to avoid USDT as much as possible. Switched my base currency to USDC but many exchanges still only let users trade with USDT. Even in binance, the default trade window is BTC/USDT and in hurry, people may mistakenly sell BTC for Tether.

You don’t understand that the government will always try to kill any cryptocurrency wich they can touch. USDT has been accused many times, but this stablecoin will always remain the most popular in the market and will not disappear anywhere.

[Reatim]

usdt tether market cap grows from 4,6 billions to 10,800 billions from March 2020

For last week - when btc jumped from 9 000 to 11 000 - tether issued 800 millions usdt

Do you think tether really has fiat for backing this usdt? 

Thats Why USDT beats Ripple in rank number 3 position for couple of times because of this Big Capitalization in which brings The currency to permanently
took the rank 4.
But i am not into Stable coin and i don't know why,i felt like i have nothing to expect in this type of Currency when i can just Buy none stable coin and make money in sooner time?

August, 29

usdt

Total Assets   $13,458,090,864.97

From July, 29 - was issued about  $2,700,000,000 

But that was not CMC says?

https://coinmarketcap.com/currencies/tether/

But maybe sooner we don't know since USDT is gaining support from Businesses these days.

[sayulita]

usdt tether market cap grows from 4,6 billions to 10,800 billions from March 2020

For last week - when btc jumped from 9 000 to 11 000 - tether issued 800 millions usdt

Do you think tether really has fiat for backing this usdt? 

Thats Why USDT beats Ripple in rank number 3 position for couple of times because of this Big Capitalization in which brings The currency to permanently
took the rank 4.
But i am not into Stable coin and i don't know why,i felt like i have nothing to expect in this type of Currency when i can just Buy none stable coin and make money in sooner time?

August, 29

usdt

Total Assets   $13,458,090,864.97

From July, 29 - was issued about  $2,700,000,000 

But that was not CMC says?

https://coinmarketcap.com/currencies/tether/

But maybe sooner we don't know since USDT is gaining support from Businesses these days.

Since USDT or tether isn't officially backed by the same amount of USD as they are printing USDT, so businesses are loving their approach and want to learn how they are keeping the market stable and yet printing so many tethers, this is complete centralization of money that Tether is doing and maybe we would need an alternative for this problem as the day isn't very far away when we can get exit scammed by the tether foundation or maybe censorship might get imposed on us, we should promote the use of alternatives of tether so as to make the playing fields equal.

[chattingtut]

August, 29

usdt

Total Assets   $13,458,090,864.97

From July, 29 - was issued about  $2,700,000,000 

But that was not CMC says?

https://coinmarketcap.com/currencies/tether/

But maybe sooner we don't know since USDT is gaining support from Businesses these days.

here is more precise info

https://wallet.tether.to/transparency

it's differ little from coinmarket info

[ElmedoRator]

August, 29

usdt

Total Assets   $13,458,090,864.97

From July, 29 - was issued about  $2,700,000,000 

But that was not CMC says?

https://coinmarketcap.com/currencies/tether/

But maybe sooner we don't know since USDT is gaining support from Businesses these days.

here is more precise info

https://wallet.tether.to/transparency

it's differ little from coinmarket info

The amount of USDT kept increasing every month and it made me really confused. What if they do not have the corresponding amount of USD, the price will crash and it will cause the market to bleed.

[chattingtut]

Total Assets   $15,116,796,542.73

from August 29  - was issued  about 1,700,000,000 usdt per 2.5 weeks

[unusualfacts30]

Most people use it to convert their alts during bleeding season. They don't have all that money on hand to be provided and most people already realize that. Use it as a back up to save yourself from crash but don't hold in for too long. that would be my suggestion. By now, there are many other alternatives to tether if one chooses to use. Risk is similar.

[mindrust]

Do you need to ask? Of course, they don't have enough fiat to back up their amount of 'printing' USDT. As you see, every time market rally and set a new record price in term of stable coin USDT, they will 'printing' like this. A good reason why sometimes, out market crashing because of bad news and lack of trust for USDT.

How is it possible while USDT is still getting a lot of trusts? did you watch the market before? it has billion as a daily trade volume. I do agree it's not all backed by some parties are also being difficult to do an audit for the tether. This company is only lack of transparency.

Many people trusted bitconnect too while it was up and running.



Total marketcap of Tether is $15b right now and total supply is already above 15b.

Tetherconneeeeeeeeeeeeect

[chattingtut]

Most people use it to convert their alts during bleeding season. They don't have all that money on hand to be provided and most people already realize that. Use it as a back up to save yourself from crash but don't hold in for too long. that would be my suggestion. By now, there are many other alternatives to tether if one chooses to use. Risk is similar.

usdt is used for trading at cryptoexchanges. Amount of trading in usdt corresponds to amount of trading in btc and eth.

https://coinmarketcap.com/ - cryptocurrencies tab
compare Volume (24 hour) for ( btc + eth ) and usdt

[Killrbit]

USDT will never be able to collapse because basically this coin has a very important role in the crypto market, and almost all exchanges have this trading pair. There are many allegations about Tether but this stable coin still stands in the market, and no one is disappointed to use. If USDT disappears then perhaps everyone in this market will lose money because Bitcoin and USDT are often interlinked and will be very unlikely.

Just because USDT is critical to the market does not mean that it wont/ cant collapse. Furthermore if they are engaged in some sort of fraud/money laundering than i don't see how any regulator could take too kindly to that simply because its collapse would lead to financial losses for investors. I don't think the US would warrant tether as being critical to our economy to warrant them providing any sort of assistance in preventing tether from collapsing.

Furthermore One most not let our own prejudices/desires/ goals/interests impact our critical thinking. The fact is that Tether is a centralized entity and there will always be risks associated with that.

It is also pretty apparent that they have been less than transparent in the past only making their decelerations when they had absolutely no other choice or when that information had already leaked.

For instance the Link between tether and Bitfinex had always been denied and it was only after it leaked in the Panama Papers that they acknowledged that relationship.

Source : https://www.icij.org/investigations/paradise-papers/paradise-papers-connection-sparks-massive-bitcoin-lawsuit/

They also maintained that they had fully backed reserves on a dollar to dollar basis only recently admitting that this was not the case.

https://www.bloomberg.com/news/articles/2019-04-30/tether-says-stablecoin-is-only-backed-74-by-cash-securities

https://www.coindesk.com/tether-says-its-stablecoin-is-fully-backed-again
.
They say they are fully backed again but make of it what you will.


Furthermore the recent increase in total issuance from roughly 4 billion to 12 billion today at a time of wide spread economic slowdown does seem suspicious to say the least.

Again i am not debating whether tether is backed or not just that we need to acknowledge that there are some discrepancies and issues with it. And given the ongoing lawsuit by the SEC it just seems wise to maybe use another stable coin until the dust settles.