[Semaphor]

So what's with the title on HN?

"Trading platform admits Tether is manipulating Bitcoin price"

This is nowhere in the article. When people spend millions to buy bitcoin, the price goes up. That is how it works. If they have to take a step through tether, that is only to work around the limitations of many exchanges not taking fiat.

What bullshit.

[quotha]

The thing is they are not spending the millions. The tethers are not backed by those millions. When this is realized, BTC price will crash!

[Semaphor]

That's a completely different thing and also not what the article is about.

But in any way, I don't understand that meme. When tether becomes worthless, there will be a lot of uncertainty and maybe some people will panic sell, but how does it actually affect the people who don't give a shit about tether?

[keymone]

Why will BTC price crash? People holding USDT will want to sell USDT possibly at discount. You can sell USDT for either USD or BTC. That will only create buying pressure for BTC, pushing it up.