Tether Treasury Mints Another $60m USDT!! is it going to effect bitcoin price?

yanto@1977

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Quote from: schuriken on March 11, 2020, 04:44:44 AM

is this news going to help and be a enough powerful to increase bitcoin price ?
or having alot of usdt in markets will not going to help at all?

I don't see that is big news, when developer increase their circulation coin on market it means they want release program and hope can take public trust. A lot of coin can't protect value from bitcoin movement, it just step to make sure new project will goes on the right track and reach the target. We still don't know what the purposes but I'm sure will not helping when bitcoin goes down.

el kaka22

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I still can't believe there is a company who can print out their own dollars like federal reserves and it hasn't been an issue so far.

These dudes literally print out whatever money they want out of thin air, literally confessed that they do not have 1 to 1 backing anymore, you can't even withdraw dollars that easily (unless it is a good sum) and people still use it to this day for some reason. These dudes can print out millions of dollars and just buy bitcoin with it and send it to coinbase and withdraw it to american banks and live a happy life without worrying about who got that tether anymore.

Not like anyone will buy it back neither, if one person do not want tether anymore, they can sell to another person, tether is out of hook as soon as they print it.

MadGamer

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Quote from: hugeblack on March 11, 2020, 02:05:04 PM

The value of the USDT is not a real value, meaning that there will be no printing of that money. Rather, it is just a tool used to stabilize prices at a certain point. Therefore, I believe that this value will work against crazy rises and will not affect the value increase.

Generally, aren't platforms supposed to burn some USDT?

That's actually not the case. Tether is backed by fiat (USD/EUR)... or at least that's what they claim.

As for the burning, that's done by Bitfinex since they are the ones who own the token.

jackg

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https://bit.ly/387FXHi lightning theory

Quote from: rexxarofmoknathal on March 12, 2020, 02:50:03 PM

Quote from: jackg on March 11, 2020, 11:08:51 AM

The graphs of supply of usdt v btc often show this trend, I don't know how the correlation has gone recently, but in the past when tether saw a spike in its supply, btc took a few days to follow so it'll likely still be doing the same again.

If anything it opens up an increase in liquidity without having to kyc and go direct to fiat as its a half way step... And more liquidity generally means a safer looking investment.

It recently seems that with so much volatility that usdt vs btc relationship is very tight, and from what I've seen today both varied quite a lot though how strong their dependencies are I'm not sure about. At this rate, it would seem logical to assume that whatever happens to one the opposite effect will follow shortly on the other one. It also looks however that all of the markets are in the red zone, so good time to buy in but not so much for selling!

It's normally quite a delayed reaction too. Like after a week has passed, then it happens...

Definitely not within a few days.

rexxarofmoknathal

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Quote from: jackg on March 11, 2020, 11:08:51 AM

The graphs of supply of usdt v btc often show this trend, I don't know how the correlation has gone recently, but in the past when tether saw a spike in its supply, btc took a few days to follow so it'll likely still be doing the same again.

If anything it opens up an increase in liquidity without having to kyc and go direct to fiat as its a half way step... And more liquidity generally means a safer looking investment.

It recently seems that with so much volatility that usdt vs btc relationship is very tight, and from what I've seen today both varied quite a lot though how strong their dependencies are I'm not sure about. At this rate, it would seem logical to assume that whatever happens to one the opposite effect will follow shortly on the other one. It also looks however that all of the markets are in the red zone, so good time to buy in but not so much for selling!

TrevorS

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It does not seem that he managed to stabilize the price. Although it is possible, the $ 6000 level for Bitcoin is the same stable mark.
For me personally, the big question is whether $ 60,000,000 is enough to keep the price and manage it.

hugeblack

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The value of the USDT is not a real value, meaning that there will be no printing of that money. Rather, it is just a tool used to stabilize prices at a certain point. Therefore, I believe that this value will work against crazy rises and will not affect the value increase.

Generally, aren't platforms supposed to burn some USDT?

jackg

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https://bit.ly/387FXHi lightning theory

Quote from: BrewMaster on March 11, 2020, 01:38:12 PM

Quote from: schuriken on March 11, 2020, 04:44:44 AM

one of the most important thing about bitcoin is the other side of it(usdt),so there will be more 60 million usdt in markets very soon.

actually usdt is a big side of the altcoins since all of these coins that keep being printed are being injected directly into the altcoin market trying to pump them. if you check the volumes you can see it is higher in altcoin market and also among exchanges it is always the altcoin exchanges that have usdt.

Quote

is this news going to help and be a enough powerful to increase bitcoin price ?

if it did then it would be the first time.

Which coins are likely to get pumped this way? If it's one of the major/high market cap alts then we might see a boost in bitcoins price.
If it just goes into some ico at #367 on the rankings then nothing will happen to btcs pricing...

avikz

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Quote from: schuriken on March 11, 2020, 04:44:44 AM

one of the most important thing about bitcoin is the other side of it(usdt),so there will be more 60 million usdt in markets very soon.
are investors and Whales going to make a big move ?
is this news going to help and be a enough powerful to increase bitcoin price ?
or having alot of usdt in markets will not going to help at all?

The market will possibly react in a positive way. Increasing number of Tether will increase the liquidity in the market which is definitely a plus because Tether is primarily used for trading and capital protection.

If you visit coinmarketcap website and sort the list based on volume, you will see that Tether has a market cap of 4.63 billion USD but the daily volume is 45 billion USD. No other cryptocurrency has such kind of volume which suppresses its market cap. So I expect the market to behave in a positive way!

BrewMaster

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Quote from: schuriken on March 11, 2020, 04:44:44 AM

one of the most important thing about bitcoin is the other side of it(usdt),so there will be more 60 million usdt in markets very soon.

actually usdt is a big side of the altcoins since all of these coins that keep being printed are being injected directly into the altcoin market trying to pump them. if you check the volumes you can see it is higher in altcoin market and also among exchanges it is always the altcoin exchanges that have usdt.

Quote

is this news going to help and be a enough powerful to increase bitcoin price ?

if it did then it would be the first time.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

The graphs of supply of usdt v btc often show this trend, I don't know how the correlation has gone recently, but in the past when tether saw a spike in its supply, btc took a few days to follow so it'll likely still be doing the same again.

If anything it opens up an increase in liquidity without having to kyc and go direct to fiat as its a half way step... And more liquidity generally means a safer looking investment.

schuriken

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one of the most important thing about bitcoin is the other side of it(usdt),so there will be more 60 million usdt in markets very soon.
are investors and Whales going to make a big move ?
is this news going to help and be a enough powerful to increase bitcoin price ?
or having alot of usdt in markets will not going to help at all?

Topic: Tether Treasury Mints Another $60m USDT!! is it going to effect bitcoin price? (Read 190 times)