An additional 6 billion Tether was minted October 21 - page 2.

TGD

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Wen Rolex?

Quote from: livingfree on October 21, 2020, 02:42:36 PM

Quote from: wack slacker on October 21, 2020, 12:11:47 PM

I think the more Tether there is, the easier it will be for the price of Bitcoin to go up.

I've never recognize this during the 2017 bull run.

There were series of printing by that time and with the hype of initial coin offering, it made easier for bitcoin to reach the peak of $20k. It is contributing to the increase that we are experiencing.

But one major reason that we see is the adoption, a real adoption is happening like the Paypal news.

Yes, adaption is the key. The reason why tether are printing this huge amount of USDT is because there's a lot of new fresh money enter in there treasury which means more investors are entering into crypto same with 2017 bull run. PayPal news is just tip of the iceberg and I believe that there are big news behind this besides PayPal news.

Let's wait another week for confirmation of this thread. Showing weakness again will result to new lows.

fmz89

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Quote from: wack slacker on October 21, 2020, 12:11:47 PM

Tether is being printed out in large numbers since March this year. Before printing 6 billion Tether more today they released 15.6 billion Tether. We currently have 21.6 million Tether.
I think the more Tether there is, the easier it will be for the price of Bitcoin to go up.
https://twitter.com/CryptoWhalebot/status/1318956720723550209?s=19

usdt printing definetly about upcoming btc pump, tether massive printing happen at crypto massive dump in march

from 4B$ and now 21B$, there is lot of money tether printing for upcoming bull run

same as usdc they printing more coin lately...surely these good sign for crypto, specially for btc

benthach

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Quote from: bitmover on October 21, 2020, 10:03:43 PM

Quote from: wack slacker on October 21, 2020, 12:11:47 PM

I think the more Tether there is, the easier it will be for the price of Bitcoin to go up.

if an asset's price is going up for the wrong reasons, the price will go down even easier.

DeFi and stablecoins are dangerous. DeFi are all most likely scams, and stablecoins are not well understood by the majority of the investors.

USDT is not USD, although people act as if it was.
USDT is just a promise that one day bitfinex will pay 1 usd for each usdt. They may not keep that promise.

just imagine if one day the u.s or europe audit/ban tether, oh the bloodbath of tether and pump of crypto as everyone would dump at any price for other cryptos

meanwords

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Quote from: asriloni on October 21, 2020, 09:35:31 PM

I just got amazed about 6 billions tether being added to the market and the question should be where is the company getting these money? these have no active income and then what?

They actually ask for a small fee for whenever you make a conversion from USD to tether or vise versa (You can see it here from their website https://tether.to/fees/). Now just imagine how much money are moving around the market this time, you'll get an idea on how much they are making. Also, add their personal business and assets then you'll see how that 6 billion tether came from.

rmyles25

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Yield Farming is like a networking scam out there. People are earning as long as there is demand for the coin but the price is only up because of the hype as there's no real world usage for those tokens. People are taking a loan just to get these yield-based tokens but can be in danger of being liquidated if there's is a big price swing.

bitmover

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Quote from: wack slacker on October 21, 2020, 12:11:47 PM

I think the more Tether there is, the easier it will be for the price of Bitcoin to go up.

if an asset's price is going up for the wrong reasons, the price will go down even easier.

DeFi and stablecoins are dangerous. DeFi are all most likely scams, and stablecoins are not well understood by the majority of the investors.

USDT is not USD, although people act as if it was.
USDT is just a promise that one day bitfinex will pay 1 usd for each usdt. They may not keep that promise.

btc-facebook

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Quote from: wack slacker on October 21, 2020, 12:11:47 PM

~snip~
I think the more Tether there is, the easier it will be for the price of Bitcoin to go up.

If based on the evidence you mentioned there is a possibility that this will happen, because more USDT in circulation indicates a large wave of investors entering the market,
but there is no guarantee the price of bitcoin will rise above $ 20,000 in 2020,
It should be in one or two weeks you will be able to see whether the price of bitcoin will be pumped higher or not, because there is a possibility that more USDT will be minted for preparation if the Bitcoin price suddenly down.

bayu7adi

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dont be greedy

Quote from: livingfree on October 21, 2020, 02:42:36 PM

But one major reason that we see is the adoption, a real adoption is happening like the Paypal news.

PayPal allows Bitcoin and crypto spending

That is the main thing that cryptocurrencies have to strive for in order to survive and be in demand by people. Mass adoption is a must, in order to make cryptocurrency a strong currency.
The latest news about PayPal yesterday, also had a positive impact on Bitcoin, just because PayPal released a new feature for buying, spending and storing with Bitcoin, the price of BTC went up 10% in 7 hours.
The price of BTC will continue to rise along with new adoptions by large companies

asriloni

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Quote from: wack slacker on October 21, 2020, 12:11:47 PM

Tether is being printed out in large numbers since March this year. Before printing 6 billion Tether more today they released 15.6 billion Tether. We currently have 21.6 million Tether.
I think the more Tether there is, the easier it will be for the price of Bitcoin to go up.
https://twitter.com/CryptoWhalebot/status/1318956720723550209?s=19

It looks like CMC is not yet updating it as the total supply that has already published on CMC is still around 15.6 billion tether.

I just got amazed about 6 billions tether being added to the market and the question should be where is the company getting these money? these have no active income and then what?

The real money machine that has owned by tether. Cheesy

SquirrelJulietGarden

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

Volume of Tether USD does not spike after the new minting round. I don't see there is serious thing happens with the new supply of Tether USD. The chart from coinmarketcap tells me that volume has a 3 months increase after a rise of Tether USD supply. If history will be repeated, we might see an increase in volume of USDT in January or February of 2021.

semobo

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More tether probably imcreases the price of bitcoin in shirt term but I won't call this as bull run,its just inflating the asset where bitcoin is the asset.More stable coins gets printed the more diluted the crypto market will be is not a good thing for the future of cryptocurrencies.

wack slacker

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Quote from: livingfree on October 21, 2020, 02:42:36 PM

I've never recognize this during the 2017 bull run.

There were series of printing by that time and with the hype of initial coin offering, it made easier for bitcoin to reach the peak of $20k. It is contributing to the increase that we are experiencing.

But one major reason that we see is the adoption, a real adoption is happening like the Paypal news.

In 2017 Bitcoin increased in price due to the more money pouring into the Crypto market due to ICO activities, investment funds began to pay more attention to Bitcoin and pulled the price of Bitcoin up. Bitcoin's value at that time was more FOMO than when people first learned about Bitcoin in the media.

Relationship in Tether's expansion and Bitcoin's appreciation in the Tweet below.
https://twitter.com/filbfilb/status/1313262658825715713

Paypal has good news and helps Bitcoin to rise in price quickly but I am looking into stabilizing how Bitcoin's price rise is organically related to the release of more Tether.

Zeehaxan

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The increasing demand for stablecoins and usdt signifies only one thing and that is the demand for crypto assets is on the rise which can easily justify the expected bull season which seems to have just started with recent breakout in btc price.

livingfree

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Quote from: wack slacker on October 21, 2020, 12:11:47 PM

I think the more Tether there is, the easier it will be for the price of Bitcoin to go up.

I've never recognize this during the 2017 bull run.

There were series of printing by that time and with the hype of initial coin offering, it made easier for bitcoin to reach the peak of $20k. It is contributing to the increase that we are experiencing.

But one major reason that we see is the adoption, a real adoption is happening like the Paypal news.

wack slacker

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Activity: 966

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Tether is being printed out in large numbers since March this year. Before printing 6 billion Tether more today they released 15.6 billion Tether. We currently have 21.6 million Tether.
I think the more Tether there is, the easier it will be for the price of Bitcoin to go up.
https://twitter.com/CryptoWhalebot/status/1318956720723550209?s=19

Topic: An additional 6 billion Tether was minted October 21 - page 2. (Read 355 times)