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by mattzito 1481 days ago
I think that’s probably true for some amount of correction, but presumably there’s some amount where the juice just isn’t worth the squeeze anymore, right?

A quick google search says there’s 14b tether in circulation - if that’s true and it falls 50%, who is going to put in multiple billions to try to prop it up?
2 comments
tyrfing 1481 days ago
Tether is at 75B right now, up from 5B pre-pandemic.

> if that’s true and it falls 50%, who is going to put in multiple billions to try to prop it up?

Anyone who has information on the backing assets. If Tether embezzled or lost 30 billion and were able to buy back all USDT at 50 cents, they would make billions in profit as well as erase that shortage.

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ldjkfkdsjnv 1481 days ago
If tether goes down, so does bitcoin. This post may as well be about bitcxoin going to zero then
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SV_BubbleTime 1481 days ago
>If tether goes down, so does bitcoin.

Doubt that. I’m sure almost anyone here could wow me with technical reasons why they are correlated…

In the end because this is all illusionary and not backed by anything tangible, it’s faith-based speculation.

When Tether pops, Bitcoin probably goes up. No one will have learned any lessons, just that they picked they wrong one, but this one over here is “safe”. It’s all what people can be made to believe, and I’m pretty sure the average crypto gambler can be made to believe lots of things that aren’t rational. Who hasn’t seen that themselves?

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