USDT has broken the buck, once Tether goes to zero so does the real value of BTC

[btc-room101]

Well as people have been saying for months, Tether is crap, and the entire price of all crypto is traded in Tether, which just happens to have a CAP of $63Billion USD, but only has $2B of real assets ( aka cash )

So right now they just lost $3B ( now $60B ) that means if the first to leave already got their 'cash', then there is no cash left for the bag-holders ( HODLer's )

[bitmover]

Well as people have been saying for months, Tether is crap, and the entire price of all crypto is traded in Tether, which just happens to have a CAP of $63Billion USD, but only has $2B of real assets ( aka cash )

This is not true.

Cash is not the only real asset in tether reserves.

https://www.coindesk.com/tether-first-reserve-composition-report-usdt

Bonds, metals, and commercial papers are real assets. Bonds and commercial papers are basically loans. Would you expect that they just keep 63 billions USD inside  CEO's house? lol

I think their allocation is very coeherent. I don't like "unspecified" commercial papers, but it isn't like only 2 B real assets. They have reserves, although those commercial papers may be very risky and from unkown/shady companies.

[The Cryptovator]

Tether is a controversial centralized cryptocurrency. We shouldn't measure Bitcoin price only based on how USDT backed by cash only. As you see @bitmover already explained how Tether Limited backed the USDT out of cash. It's an open secret that tether has been controlled by Bitfinex. The sad thing is Tether Limited does not submit a true Audit report about how it has backed. I know if something happens with Tether it will affect Bitcoin price hugely.

[Cryptoshops]

I wouldent touch Tether with a barge pole ....

[john1010]

Well as people have been saying for months, Tether is crap, and the entire price of all crypto is traded in Tether, which just happens to have a CAP of $63Billion USD, but only has $2B of real assets ( aka cash )

So right now they just lost $3B ( now $60B ) that means if the first to leave already got their 'cash', then there is no cash left for the bag-holders ( HODLer's )

It will not happen, as you can see Bitcoin are not only faired with thether usdt, it also faired with many coins and token and also faired with BUSD, USDC, TUSD and much more, even USDT collapse BTC still stand on the strong ground and will not affected.

[tbct_mt2]

USD is becoming stronger recent weeks and it is not good for bitcoin short term but just short term guys. Because we all know how bad fiat currencies are and the problems are from fiat currencies, not from bitcoin. USD can has short term greater power but it won't last long because such power is built from governments and they only make fiat currencies worse.

Tether is not as good as it is believed by people but it will not go to zero. USD won't go to zero, Tether won't fall to zero. Bitcoin won't decrease to zero. Never.

[Tytanowy Janusz]

Well as people have been saying for months, Tether is crap, and the entire price of all crypto is traded in Tether
So right now they just lost $3B ( now $60B ) that means if the first to leave already got their 'cash', then there is no cash left for the bag-holders ( HODLer's )

Gold, silver, oil, wheat, sugar, cotton, platinum, nagtural gas, corn, copper ... simply everything is traded in USD. USD "is crap" - 25% of supply was printed last year. Does that mean that all commodity that are being traded in USD will go to 0 together with USD crash? Or rather they will all moon in USD price ??

USDT was a big thread before 2020. Now stablecoins like USDC, BUSD, DAI, TUSD, PAX are getting stronger and stronger and have 70% of tether marketcap now. USDC has bigger volumes in main trading pairs on DEX exchanges.  Tether failure and thether FUD is my dream come true scenario. We will see huge dump and great buing opportunity. Price will recover very fast.

[Twinkledoe]

Well there's many stablecoins out there not limited to only tether, if tether falls BTC won't go down to zero, there gonna be huge impact but don't you think that other stablecoin will simply
take over tether's place in its reign over stablecoins?
There's even decentralized stablecoins, if people truly care about their money, they gonna diversify their stablecoins holding to various stablecoins. not to mention there's BUSD backed by one of biggest crypto exchange which hopefully too big to go down.

Bitcoin has been here even before USDT was born. So if USDT falls, btc will still be here. But like others have said, it may significantly impact its price but I don't think btc will go down to zero. Remember in 2019, Tether lawyer admitted that they were not fully backed by USD assets, and right now, how can we tell the absolute truth that they are now fully backed? So there's always doubt about the real assets of USDT. Just be careful in holding this for long term.

[nsummy]

If (or when) the curtain gets pulled up so that we see what is really behind Tether, just hope you don't have any crypto in exchanges.  It will be a blood bath.  It will mostly decimate the value of Eth, but it will drag down everything with it.  The main problem will be the exchanges the are suddenly insolvent. At this point Tether is too big to fail.  And when I say that I don't mean governments will prop it up.  I mean no one will ask the important questions because the the truth will be the end of it.

[Fivestar4everMVP]

Answering from the topic of this thread, it's never going to happen, this is because before tether came into existence, bitcoin and other crypto coins that were available then has always had a usd value faired to them all, though what I do think is that if tether losses or turns zero, the only way its going to as little as possible affect the bitcoin or the market in general is due to panic sellers or those who don't understand what crypto fully stands for, this type of people might think that since tether has lost its value, that the whole market if going to crumble, and this misunderstanding might cause them to start panic selling for fiat, and this will only last for a little moment.
So my conclusion is that tether loosing it's value isn't going of any significance, affect bitcoin or the market generally because like I said before, before tether came into existence, bitcoin has always had a usd value.

[pawanjain]

Well as people have been saying for months, Tether is crap, and the entire price of all crypto is traded in Tether, which just happens to have a CAP of $63Billion USD, but only has $2B of real assets ( aka cash )

So right now they just lost $3B ( now $60B ) that means if the first to leave already got their 'cash', then there is no cash left for the bag-holders ( HODLer's )

USDT is indeed like a hanging pole but that alone does not define the worth of bitcoin.
We have many other stable coins like BUSD, USDC, TUSD etc... Apart from that, even if USDT crashes then I don't think that will drain bitcoins overall value.
The market might dump a lot in the state of a panic but then the money would just flow from one coin to another.

[hugeblack]

You would be stupid if you kept that coin in a wallet and thought it was worth one dollar. T/B/XXX USDT/B/C/XXX is a number to stabilize profits or losses due to sharp fluctuations in the cryptocurrency market, and it should be nothing more than that.
Generally, this currency has no value outside the trading platforms, so there is no problem as long as those platforms keep providing the value of that currency and enable you to withdraw it to Bitcoin. The real problem is not the capacity of the currency market, but rather if the platforms decide not to accept it.

[yhiaali3]

This is absolutely illogical, the collapse of Tether (USDT) can not lead to the collapse of Bitcoin This is absolutely illogical There are a lot of other stablecoins that are traded vs Bitcoin in addition to the real dollar on some platforms, surely in the event of a Tether collapse it will be a huge loss and will be affected Bitcoin price and people will lose the money they put there but there will be no bitcoin crash. Simply bitcoin can be exchanged for any other stable coin.
Gold is exchanged for real dollars in global stock exchanges. If the dollar collapses, will this lead to the collapse of gold? Of course not, because gold carries its real value and can be exchanged for any currency and will not collapse with the collapse of the dollar or any other currency.

[ene1980]

Well as people have been saying for months, Tether is crap, and the entire price of all crypto is traded in Tether, which just happens to have a CAP of $63Billion USD, but only has $2B of real assets ( aka cash )

So right now they just lost $3B ( now $60B ) that means if the first to leave already got their 'cash', then there is no cash left for the bag-holders ( HODLer's )

There is no debate about the crap sentiment of USDT, i am expecting the market to get a huge shock when everything started falling because the entire market was dominated by USDT for a long time and even if they are not trustworthy people are still trading with them and the volume is really high. My only wish is that i do not want to see the market burn because of USDT now, let them enjoy the perks for a while before it burns  .

[FinneysTrueVision]

There are a lot of different stablecoins now. Tether's market share is steadily declining and there is not so much dependence on it anymore. There are many decentralized exchanges where USDT is not the dominant stablecoin. Even if tether is not fully backed they still have enough reserves for it to not be worth zero.

[Bitstar_coin]

Well as people have been saying for months, Tether is crap, and the entire price of all crypto is traded in Tether, which just happens to have a CAP of $63Billion USD, but only has $2B of real assets ( aka cash )

So right now they just lost $3B ( now $60B ) that means if the first to leave already got their 'cash', then there is no cash left for the bag-holders ( HODLer's )

There is no debate about the crap sentiment of USDT, i am expecting the market to get a huge shock when everything started falling because the entire market was dominated by USDT for a long time and even if they are not trustworthy people are still trading with them and the volume is really high. My only wish is that i do not want to see the market burn because of USDT now, let them enjoy the perks for a while before it burns  .

If it burns it will send waves to every corner of crypto and I don't think you will be spared as well, (IF) and if nothing happens or a minor scratch then people will carry on as usual, there are other trusted stable coins out there 5hat btc is paired with bur usdt seem to be the most traded of them all, there are other options but many people still use usdt more which I fail to understand.

[zasad@]

Many investors choose to keep their savings in USDC and DAI. Do not store all your stablecoins in USDT alone.
USDC is gaining a lot in popularity because it has a fair audit, although the company can lock your coins in a wallet just like USDT.
DAI is the most decentralized stablecoin without blocking.

[DaveF]

Many investors choose to keep their savings in USDC and DAI. Do not store all your stablecoins in USDT alone.
USDC is gaining a lot in popularity because it has a fair audit, although the company can lock your coins in a wallet just like USDT.
DAI is the most decentralized stablecoin without blocking.

USDC is also popular since it has a few big names behind it, Circle, Coinbase and a few others.
US based business that have a lot to loose if it goes bad so people feel safer with it.

On the flip side, people who are afraid of "big government intrusion" tend to like it less.

I don't like Tether but I am not worried about it.

-Dave

[tbct_mt2]

Gold, silver, oil, wheat, sugar, cotton, platinum, nagtural gas, corn, copper ... simply everything is traded in USD. USD "is crap" - 25% of supply was printed last year. Does that mean that all commodity that are being traded in USD will go to 0 together with USD crash? Or rather they will all moon in USD price ??

USD in particular and fiat currencies in general. It is not a new story about inflation, hyper inflation was created by the pandemic.

Goods market (wheat, sugar, cotton, corn, etc.) was risen by the pandemic. Fear of lack of goods and money printing from governments help wheat, sugar, etc. grow a lot in value. It's a bubble

USDT was a big thread before 2020. Now stablecoins like USDC, BUSD, DAI, TUSD, PAX are getting stronger and stronger and have 70% of tether marketcap now. USDC has bigger volumes in main trading pairs on DEX exchanges.  Tether failure and thether FUD is my dream come true scenario. We will see huge dump and great buing opportunity. Price will recover very fast.

Stable coins are affected by the assets they are pegged with. It can be affected by USD, GBP, gold, etc but if fiat currency and the world economy has great recession, stable coins will not be safe.

[TheMimic1]

What's tether business with BTC? I think you are wrong mate and here is why

1. BTC is a standalone crypto coin
2. Satoshi Nakamoto never created tether
3. Tether isn't the only stable coin that's paired with BTC on exchanges, we have BUSD, USDC and others
4. Tether has the highest volume among stable coins and it wil surely affects the market but to things will recover later