Could Tether Bring Down Bitcoin? - page 3.

bgaf

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Quote from: BubbleBoiler on April 11, 2019, 05:08:57 AM

"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

I Dont think we can compare these two. Tether objective is to be backed up by USD but still not legitimize. BTC is still more efficient and more value compared to USDT. I Know tether is good stablecoin but if you want progress in cryptovurrency, would be a stable coin is really an aswer? How about moving forward? In my opinion BTC and other major altcoin has more potential to be that coin.

Script3d

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Bitcoin and tether have some differences and the reason why bitcoin is more popular than tether because bitcoin is decentralized, and you don't need to give out your personal information to use the product, and also privacy which lightning offers right now, meanwhile tether is centralized compare to bitcoin they can make changes whenever they want, also tether is not connected to bitcoin so it can't do anything with its price.

Mac_Doson

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I think this will be difficult, even though there is actually an opportunity for that because in any Cryptocurrency it can happen. Bitcoin is the king of cryptocurrency, with the highest value and strong trust from the public, for this reason it will be difficult for coins to defeat Bitcoin. The crypto market to a whole different height altogether. As per the predictions and analysis, Bitcoin stays securely to number one position, without any close contender. Gradually, Bitcoin will be seen more as a store of value, along with it being an alternative currency.

coin-investor

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I don't think it's going to be, there are so many coins in the market that threatened to bring down Bitcoin but we have seen the other way around, Tether and other coins in the market are being considered to bring or beat down Bitcoin but all their price still depend on Bitcoin's status in the market.

bebekangsoo

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Quote from: Ailmand on April 15, 2019, 04:06:58 AM

Tether only relies on bitcoin at times so how could it bring down Bitcoin? Bitcoin has passed all the tests of time in crypto world so I think no coin like tether could bring it down. In fact, more investors are into bitcoin more than tether since they could see how it developed and how it grows continuously.

no, Bitcoin cannot be destroyed by anyone and so far Bitcoin cannot be defeated.
Bitcoin will get better and many are attracted to it, they know the advantages of Bitcoin, so they trust Bitcoin at some point in the future to soar.
so it's not easy for other coins to drop Bitcoin.

Ailmand

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Tether only relies on bitcoin at times so how could it bring down Bitcoin? Bitcoin has passed all the tests of time in crypto world so I think no coin like tether could bring it down. In fact, more investors are into bitcoin more than tether since they could see how it developed and how it grows continuously.

babicena14

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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.

ethereumhunter

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Quote from: avonka on April 14, 2019, 06:50:34 PM

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.

BlueStackz

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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.

avonka

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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.

irixo10

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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.

Dessy88

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Quote from: Astargath on April 11, 2019, 06:29:49 AM

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

EnormousCoin101

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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.

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Quote from: BubbleBoiler on April 11, 2019, 05:08:57 AM

"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.

jerrison

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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.

Kay94

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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.

pixie85

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Quote from: Astargath on April 14, 2019, 11:29:58 AM

Quote from: pixie85 on April 13, 2019, 06:38:53 PM

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.

kleshovab7

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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.

semobo

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Quote from: BubbleBoiler on April 11, 2019, 05:08:57 AM

"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.

Astargath

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Quote from: pixie85 on April 13, 2019, 06:38:53 PM

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.

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