Tether minted more USDT. | Bitcointalksearch.org

batang_bitcoin

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Quote from: Catenaccio on March 11, 2024, 03:50:00 AM

I found two articles about Tether USDT and correlation with Bitcoin price.
Tether supply and BTC price: are they linked?
Statistical analysis of Bitcoin price manipulation by Tether issuance in late 2017

On 2017, there have been printing of more USDT and that put significance to the price of Bitcoin. This time? maybe there's still is but there are more factors that do affect Bitcoin's price nowadays. As of the moment, it's known that the ETF is really doing the job.
Next, we're leaning towards the halving and that's what's making the correlation of its price so there are a lot of factors that does the job on why we're seeing the price of bitcoin move a lot.

Catenaccio

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Tether USDT marketcap increases from $73B in March 2023 to more than $100B in March 2024.
https://coinmarketcap.com/currencies/tether/

I found two articles about Tether USDT and correlation with Bitcoin price.
Tether supply and BTC price: are they linked?
Statistical analysis of Bitcoin price manipulation by Tether issuance in late 2017

Catenaccio

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Quote from: Sophokles on January 07, 2024, 08:00:00 AM

I saw some predictions about USDT depegging too but I am not sure how this is going to happen. I know the SEC doesn't want USDT to operate in their country as they don't want to allow a company outside of the USA to offer USD pegged stablecoin to their customers. But the minting of USDT is good news for the crypto market as it means someone is flowing money into crypto and this money will go mostly to BTC or ETH. A bullish outlook for the overall market. But depegging of USDT will be catastrophic.

With Tether minting speed, it looks very fast minting and people have reasons to worry about Tether stable coin peg. However looks like Tether has good report and audit on their treasury but I still feel scary even they have good reports on that.

They continued to mint more USDT recent days.
https://coinmarketcap.com/currencies/tether/

Tether's stable coin USDT surpassed 70% dominance according to DeFiLlama. The stable coin got 25% increase in market share through 2023.

JeffBrad12

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well there are company behind USDT and it seems they are really doing hard to pump those market capitalization of USDT high enough so that it will be biggest stablecoin in existence, i guess bitfinex really think that their USDT is massive success that was why they always kept minting more and more USDT, it can be that they just want to reinvest their money though.
but I always wonder how these companies behind stablecoin make profit like I've seen many of them don't even have fee for utilizing the stablecoin so how company like bitfinex so eager to keep pumping the amount of USDT in the market while it just means that some of their money gonna get locked for long term i still couldn't understand maybe some people can elaborate but overall as many have said, if there's no implication of insufficient reserve for pegging I personally have no problem about USDT keep minting more and more USDT.

cryptoaddictchie

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Quote from: pakhitheboss on January 07, 2024, 06:57:58 AM

I do see so many red flags for using Tether but it is still the most used stablecoin in the crypto ecosystem, which confuses me.

Well it did useful actually. You can even bring that using your non custodial wallet and go anywhere without being noticed. Imagine you have a $1million traveling and using stabelcoin usdt as your budget for travel. No one would ever notice it. Thats how efficiency crypto sometimes its quite dangerous too.

criptoevangelista

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I have noticed this movement of the increase in USDT capital, people are preparing to speculate in cryptocurrencies.

There is always great new money entering the market, a sign that the good times of financial abundance will return with a vengeance this year and in 2025

Sophokles

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Quote from: God bless u on January 06, 2024, 07:51:51 AM

Quote from: mindrust on December 27, 2023, 10:19:36 AM

Nobody cares anymore. I used to be obsessed with tether printing too but now it wouldn't surprise me if they doubled the total tether marketcap in a day. If the authorities are OK with this, why should I care? BTC still has limited supply no matter what they do. It is the problem for the US if bitfinex is printing counterfeit USD. The FED is doing it all the time, maybe they are using bfinex unofficially to print USD so we won't accuse the FED for printing USD... Finex takes all the blame when USD&USDT goes down to zero. Daym criminals killed USD!!! Quick! Hang Bin Laden.

you should care if you have USDT in your wallet. i mean everyone should care about that who have USDT in their wallet. because if they do that without adding more US dollars to their reserves don't be transparent about that. the USDT can loose it's peg to US dollar. and it'll be a disastrous for not only everyone having Tether. but for entire crypto market.
don't you remember what happened with USTC depegged? if USDT get de pagged it would cause a much bigger effect than USTC.

I saw some predictions about USDT depegging too but I am not sure how this is going to happen. I know the SEC doesn't want USDT to operate in their country as they don't want to allow a company outside of the USA to offer USD pegged stablecoin to their customers. But the minting of USDT is good news for the crypto market as it means someone is flowing money into crypto and this money will go mostly to BTC or ETH. A bullish outlook for the overall market. But depegging of USDT will be catastrophic.

pakhitheboss

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Quote from: cryptoaddictchie on January 06, 2024, 08:30:25 AM

Its not like new headlines but thus has been happening eversince. Most people didnt aware of the unli lint function of tether, its fine as lonh ad thry backed it with real asset however this has been the major issue that needs to address since then cause some says they dont equate their real asset with this minting. Scary enough but using usdt is only good for trading not for holding.

The perfect usage of USDT as per my experience is to pay someone for their service and who is sitting in a different country. It was created to help traders and a lot of traders have been using it for its stability since it is pegged to USD. It would be fullish to hold it as its USD value won't go up but will remain stable. What makes it even worse is that Tether can anytime freeze it, which makes it like a financial weapon for the government. I do see so many red flags for using Tether but it is still the most used stablecoin in the crypto ecosystem, which confuses me.

cryptoaddictchie

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Its not like new headlines but thus has been happening eversince. Most people didnt aware of the unli lint function of tether, its fine as lonh ad thry backed it with real asset however this has been the major issue that needs to address since then cause some says they dont equate their real asset with this minting. Scary enough but using usdt is only good for trading not for holding.

God bless u

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Quote from: mindrust on December 27, 2023, 10:19:36 AM

Nobody cares anymore. I used to be obsessed with tether printing too but now it wouldn't surprise me if they doubled the total tether marketcap in a day. If the authorities are OK with this, why should I care? BTC still has limited supply no matter what they do. It is the problem for the US if bitfinex is printing counterfeit USD. The FED is doing it all the time, maybe they are using bfinex unofficially to print USD so we won't accuse the FED for printing USD... Finex takes all the blame when USD&USDT goes down to zero. Daym criminals killed USD!!! Quick! Hang Bin Laden.

you should care if you have USDT in your wallet. i mean everyone should care about that who have USDT in their wallet. because if they do that without adding more US dollars to their reserves don't be transparent about that. the USDT can loose it's peg to US dollar. and it'll be a disastrous for not only everyone having Tether. but for entire crypto market.
don't you remember what happened with USTC depegged? if USDT get de pagged it would cause a much bigger effect than USTC.

Catenaccio

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Since January 4, Tether minted $1T USDT and added to USDT circulating supply.
Will they continue to mint more USDT in a next week?

People think when Tether mints more USDT, the market will be pumped?

Will it be the same or different this time?

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

coiningz

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People that spreading tether fud should understand that in case of usdt collapse the whole market will be burned

Bushdark

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Quote from: jrrsparkles on December 28, 2023, 03:27:36 AM

When they didn't and we never know they actually have the reserve that they claim so its always such a gamble to keep your money in the USDT. The emergence of USDT led to a lot of further stable coins later but it was the root of all evil but least it's mostly used for trading purposes and nothing else.

Usdt had been a competition token since it emergence in the market and now there are so many stable coins we can buy and hold but non of them can be compared to usdt which is the major stable coin in the market. There had been speculations that the Chinese government had ban the use of usdt posing a threat to their economy. Although this might not have a serious effect for now because usdt is the only reliable stable coin in the market for now we can rely on.
.

poodle63

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Quote from: Catenaccio on January 04, 2024, 08:35:32 PM

Quote from: Fundamentals Of on December 28, 2023, 09:57:54 PM

The relationship is more than just Tether or USDT being the way for people to buy Bitcoin. There have been suspicions, or perhaps it is even established already, that there is a correlation between Tether minting more USDT and the rise of the price of Bitcoin. This isn't just a recent issue. This has been going on even more than 5 years ago. Tether is said to be manipulating the price of Bitcoin. Even the bull run in 2017 was said to be largely due to Tether printing USDT which was then used to buy Bitcoin.

They just do it again by minting about 0.5T USDT recently. Is this used to pump Bitcoin and altcoins more with upcoming announcement from SEC. for Bitcoin Spot ETFs?

we will figure out in the upcoming days, after all there has been many rumour indeed saying that tether are the one that keep pumping bitcoin.
one thing thats more important though, they should keep disclosing their reserve transparently so that people are not worried that the USDT is just backed by an air as it would cause massive crash if thats the case.
minting USDT is okay as long as they can be transparent about the reserve.
i think that also one of the concern of many people as well so many people are worrying that the USDT might collapse some day and bring disaster to the entire cryptocurrency market.

Catenaccio

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Quote from: Fundamentals Of on December 28, 2023, 09:57:54 PM

The relationship is more than just Tether or USDT being the way for people to buy Bitcoin. There have been suspicions, or perhaps it is even established already, that there is a correlation between Tether minting more USDT and the rise of the price of Bitcoin. This isn't just a recent issue. This has been going on even more than 5 years ago. Tether is said to be manipulating the price of Bitcoin. Even the bull run in 2017 was said to be largely due to Tether printing USDT which was then used to buy Bitcoin.

People think when Tether mints more USDT, the new supply will be used to pump Bitcoin and altcoins.

They just do it again by minting about 0.5T USDT recently. Is this used to pump Bitcoin and altcoins more with upcoming announcement from SEC. for Bitcoin Spot ETFs?
https://coinmarketcap.com/currencies/tether/

Fundamentals Of

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Quote from: icalical on December 27, 2023, 11:59:36 PM

Quote from: Fundamentals Of on December 27, 2023, 11:27:01 PM

What's funny and ironic is that while everybody is questioning and even doubting Tether's reserves, some even for years, many are also probably cheering for Tether whenever they mint more USDT because many of these tokens will probably be used to purchase Bitcoin and other altcoins. Tether minting a billion more USDT could be interpreted as a billion more money to buy Bitcoin and altcoins, therefore an increase in their prices.

And since Tether made the announcement that they would regularly buy Bitcoin with their profit, Tether has become a constant source of demand. Tether is now a reliable player pushing Bitcoin's price up.

I never thought about the relation between Tether and Bitcoin in that way, but that's seems right. Not only that Tether will use 15% of their profit to buy Bitcoin, but USDT is the gate for people to know about Crypto and Bitcoin, and this will definitely attract more new investors into crypto and Bitcoins. People who are new to Crypto could start by buying USDT because it's more like fiat thus it is more familiar to them.

The relationship is more than just Tether or USDT being the way for people to buy Bitcoin. There have been suspicions, or perhaps it is even established already, that there is a correlation between Tether minting more USDT and the rise of the price of Bitcoin. This isn't just a recent issue. This has been going on even more than 5 years ago. Tether is said to be manipulating the price of Bitcoin. Even the bull run in 2017 was said to be largely due to Tether printing USDT which was then used to buy Bitcoin.

bluebit25

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Although they can argue that there are assets that support printing money

, but actually for me it is always more in a state of doubt, because there have been many different speculations (fud). It makes me think about the banking system that prints money and pushes it into the market for many reasons to strengthen and maintain the economy, then it recovers the assets that people have. But anyway these are different issues in terms of scale. The fact that USDT is printed more at this stage I think is understandable, as we are getting closer to a big bull season.

jrrsparkles

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When they didn't and we never know they actually have the reserve that they claim so its always such a gamble to keep your money in the USDT. The emergence of USDT led to a lot of further stable coins later but it was the root of all evil but least it's mostly used for trading purposes and nothing else.

icalical

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Quote from: Fundamentals Of on December 27, 2023, 11:27:01 PM

What's funny and ironic is that while everybody is questioning and even doubting Tether's reserves, some even for years, many are also probably cheering for Tether whenever they mint more USDT because many of these tokens will probably be used to purchase Bitcoin and other altcoins. Tether minting a billion more USDT could be interpreted as a billion more money to buy Bitcoin and altcoins, therefore an increase in their prices.

And since Tether made the announcement that they would regularly buy Bitcoin with their profit, Tether has become a constant source of demand. Tether is now a reliable player pushing Bitcoin's price up.

I never thought about the relation between Tether and Bitcoin in that way, but that's seems right. Not only that Tether will use 15% of their profit to buy Bitcoin, but USDT is the gate for people to know about Crypto and Bitcoin, and this will definitely attract more new investors into crypto and Bitcoins. People who are new to Crypto could start by buying USDT because it's more like fiat thus it is more familiar to them.

Fundamentals Of

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What's funny and ironic is that while everybody is questioning and even doubting Tether's reserves, some even for years, many are also probably cheering for Tether whenever they mint more USDT because many of these tokens will probably be used to purchase Bitcoin and other altcoins. Tether minting a billion more USDT could be interpreted as a billion more money to buy Bitcoin and altcoins, therefore an increase in their prices.

And since Tether made the announcement that they would regularly buy Bitcoin with their profit, Tether has become a constant source of demand. Tether is now a reliable player pushing Bitcoin's price up.

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