IF USDT would collapse what do you think will happen to the BTC price? - page 3.

acquafredda

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Quote from: zasad@ on December 26, 2020, 02:43:36 PM

Fighting to be STABLE: the Evolution of Stablecoins
https://medium.com/dragonfly-research/fighting-to-be-stable-the-evolution-of-stablecoins-aca81fb432f9

A very interesting article about stablecoins, their evolution and what will happen in the future.
Many interesting thoughts about their regulation.

I agree with the opinion of the author:
"And the bigger Tether gets, the bigger the target on its back grows."

Sadly yes. Whatever we may think of Tether we should recognize its role in the last years: it helped many traders, holders and users to go in and out of btc/fiat to allow fast transfers across different platforms. What Tether represent today is what it is scaring us all as its collapse will be a sort of nuke bomb on the crypto world. Yes, there are already alternative in place yet UDST is the biggest and most used.

Lhaine

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Quote from: FireBallex on December 26, 2020, 02:28:50 AM

If USDT collapsed it will bring new opportunities to those that want to buy bitcoin at a cheaper rate and that will make bitcoin recovers, whatever comes bitcoin will recover because of adopters, many will be waiting for some opportunity to buy Wink

Yes, but is everyone sure that the USDT will collapse? because stable tokens are always valued in accordance with the dollar currency in general, the use of the dollar currency is still very large and the pairing for new tokens and coins is still very much, so are you sure that USDT will collapse?

If they can't release more USDT supply and we have more demand in USDT compare to how many supply we have ,thats the only problem that i see is possible to happen to USDT .which will bring the price up and no one can stop it if there are people want to use USDT to secure their money in fiat value . Not unless they print more USDT that can full the needs of all traders if market need more demand.

zasad@

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Fighting to be STABLE: the Evolution of Stablecoins
https://medium.com/dragonfly-research/fighting-to-be-stable-the-evolution-of-stablecoins-aca81fb432f9

A very interesting article about stablecoins, their evolution and what will happen in the future.
Many interesting thoughts about their regulation.

I agree with the opinion of the author:
"And the bigger Tether gets, the bigger the target on its back grows."

jaysabi

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If the US dollar collapses, the price of bitcoin is going to be the least of everyone’s concerns. It will likely skyrocket, but your gains are moot in an economy where everything has gone out the window and there’s now political and social unrest on a wide scale.

Reid

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Stay unaffected is still winning.
I am glad about how optimistic our forum members here with the strength of Bitcoin.
It might just be 11 votes but it's still something else.

IMO, USDT is just a tool for traders who want to make a faster sell point without worrying about the fluctuation and that's it.
Also, taking out the risk of buying an altcoin that might be dumped.

OpenCryptoSystem

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Bitcoin went up coused of USDT PUMP .
If usdt fail then btc price will be ...how we know what?

Bitcoin price comes: binance kraken hubo bi ,polox...
If one of them something happens its fine.
But if all them disapeares bitcoin will be zero.
Or very low .
Gold market are same it works the same way

Usdt is main thing if one day it will disapeares then btc price will falll quickly. 10-20k .

And there is no other response then panic selling to usdc dai or pax or others.

I belive this they do it . The authorities are slick they manipulate with market to buy cheap together with their friends !
Its been like this with metals gold silver and all others even stocks and btc will be same .

VDraci

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USDT carries a huge marketcap, if something bad happens it will affect the whole crypto space big time but I'm sure bitcoin will be the first to recover, we can't deny the fact that Bitcoin is well adopted than others and some are even waiting for a golden opportunity to buy bitcoin for cheap price

FireBallex

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If USDT collapsed it will bring new opportunities to those that want to buy bitcoin at a cheaper rate and that will make bitcoin recovers, whatever comes bitcoin will recover because of adopters, many will be waiting for some opportunity to buy Wink

RealMalatesta

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Crypto will not collapse after USDT goes away, obviously it will hurt economically speaking, the price of bitcoin will definitely go down, thats not really a shock, but its not going to impact it all that much.

Let's try to imagine that USDT crashes right, the USDT you have suddenly doesn't worth anything anywhere and Tether said they just took your money and left with it, seems reasonable enough? Well, in that case everyone will try to sell their USDT right? Who would want to keep USDT after something like that? Well when they sell their USDT, what are they going to sell it to? They are going to trade it with bitcoin, everyone will sell their USDT no matter what the price will be, to Bitcoin. Shouldn't that actually improve the price of bitcoin?

I mean if anyone has any other idea I am willing to listen but one of the biggest competitions of bitcoin crashes and all its money becomes bitcoin, that sounds profitable for bitcoin.

XZERO1

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If that happens I'm guessing crypto market will experience some downtrend movement but nothing that can affect the long-term uptrend of Bitcoin or anything like that.
After all there are many stable coin alternatives in almost all exchanges, DAI, PAXOS, TrueUSD and USDcoin are just a few of them, so I highly doubt that it will cause any significant impact on whole crypto market.

I believe crypto market is not that easily affected by any kind of news like that in 2020 or 2021, if it was a few years ago back in 2017 or 2018 even things were different and even a little nonsense baseless fud could affect btc price significantly and bring down all altcoins with it but it hasn't been like that for a year or two now.

doomloop

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If the USDT happens to collapse the cryptocurrency market will be affected in a lot of ways.
Explaining this will be a long story, although I wouldn’t be that really good in explaining it. But the whole cryptocurrency market is relying on USDT and we all know very well the amount of money that goes into USDT everyday, and we know that USDT is no longer hundred percent backed by the USD as they used to claim at first, and this time around it can be backed by anything at all, it can be Bitcoin any asset and even air and pumped by them anytime they want, and if it happens to collapse it’s going to affect the cryptocurrency market, including Bitcoin. Though it’s not going to be a situation that the market won’t be able to get out from, but it will take time.

JeffBrad12

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Quote from: milesfull on December 25, 2020, 02:25:17 AM

USDT collapse means crypto industry collapse. This will hurt really hard

It looks like you were not a part of crypto old adopters and if you are old crypto adopters and then you have seen that if even when the stable coin was not yet created and crypto industry already exists. The purpose of the stable coin to give a solution for the traders who were facing a lot of problems caused by the volatility.
It will not hurt crypto dude and this will never happen. Crypto can exist even without the support from the stable coin.

Oshosondy

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Quote from: milesfull on December 25, 2020, 02:25:17 AM

USDT collapse means crypto industry collapse. This will hurt really hard

USDT can collapse but it if it collapse it can happen in a way nothing will happen to crypto industry, my reasons are

1. USDT is said to be owned by an exchange bitfinex which was hacked few years ago and believe to have manipulated tether to pay their dept (the bitfinex hack)
2. Knowing that their are government organizations that are investigating this, although it can be underground
3. Tether is not only the stable coin, it can be delisted on exchanges and be replaced by other stable coins.

Only coin that can collapse and result to the collapse of crypto industry generally is bitcoin, but this has not be seen to be able happen in future.

milesfull

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USDT collapse means crypto industry collapse. This will hurt really hard

Sithara007

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Quote from: ardentvolcanoes on December 24, 2020, 12:36:25 PM

If there's an impact majority will be in the positive side, just like how we are seeing things right now. XRP are falling and it's not doing
any harm with Bitcoin, still residing with strong value. And from what you've shared the dominance is keep growing, investors are more
concern with Bitcoin and nothing else.

XRP seems to be recovering now and the exchange rates are up by 22% during the last 24 hours. And as expected this has caused a dip in Bitcoin dominance from 69.0% to 68.2%. But this trend will continue. At some point, the overpriced altcoins will undergo corrections and a part of the funds which are locked up with them will move towards Bitcoin.

OpenCryptoSystem

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World elite are very interested to keep btc good.
And crypto so nothing not gona happening with crypto.
Crypto are safe !

Silberman

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Quote from: zasad@ on December 18, 2020, 04:23:45 PM

$ 20 billion is a very small amount for the crypto market, and as long as 1 tether is equivalent to 1 US dollar, it cannot be called a scam. Most of the tokens are involved in speculation or are stored in users' wallets. Users are not going to exchange their tokens for fiat, because they can already be paid in many payment systems.
In the near future and with the constant growth of the market, the collapse of the tether is unlikely

The problem is not the market cap but the huge 24 hour volume of tether which is roughly 50% above the one bitcoin has, this is massive and if tether were to collapse overnight then we are bound to see a huge disruption in the market as people scramble to find a way to exchange their coins, now some suggest that some other stable coin could take its place but after such a collapse who in his right mind will want to use stable coins? A thought process that may cause even other stable coins to collapse as well.

ardentvolcanoes

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Quote from: Vishnu.Reang on December 24, 2020, 12:00:40 PM

Now we are witnessing the collapse of one of the top 5 cryptocurrencies before our own eyes (Ripple or XRP). This has impacted most of the other altcoins, but the Bitcoin prices have remained stable. On the other hand, the Bitcoin dominance has increased from 67.6% to 68.6%. If the USDT collapse in the near future, the same pattern will be witnessed. The users will move to BTC, and as a result the Bitcoin dominance is going to increase.

If there's an impact majority will be in the positive side, just like how we are seeing things right now. XRP are falling and it's not doing

any harm with Bitcoin, still residing with strong value. And from what you've shared the dominance is keep growing, investors are more

concern with Bitcoin and nothing else.

DrBeer

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What does USDT have to do with the value of Bitcoin? If I have 100 times less money in my wallet, how will the value of bitcoin change?

WILL NOT CHANGE IN ANYONE! Neither my wallet nor YUSDT have any influence on the capitalization and / or value of an independent cryptoasset, which, moreover, is the basic element for evaluating all other cryptocurrencies. Another example - how will the value of the dollar change if, for example, the ruble collapses? NO! Nothing depends on the ruble, and it has no effect on the dollar. Exactly the same relationship between Bitcoin and USDT

BITCOIN4X

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Volatility will occur and this is a normal reaction in my opinion. It's hard to say that there wouldn't be any impact on the price of bitcoin if the USDT collapsed. USDT has been used as a bitcoin trading pair on a variety of exchange and I really believe the impact will be there. However, bitcoin does not depend on the growth and existence of any asset as its price is determined by supply and demand regardless of whether the USDT collapses or not. So even though there will be volatility, price will be difficult to predict which way.

Apart from USDT, I think there are many other stablecoin that can also be used as trading pairs on the exchange. So this definitely wouldn't be a problem that could damage bitcoin if it did.

Topic: IF USDT would collapse what do you think will happen to the BTC price? - page 3. (Read 1487 times)