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Considering the meteoric rise of BTC is tied so deeply to Tether issuances, it sounds an awful lot like you’re trying to convince us the emperor really has clot

Considering the meteoric rise of BTC is tied so deeply to Tether issuances, it sounds an awful lot like you’re trying to convince us the emperor really has clothes.

jkhdigital 6y ago
Correlation is not causation. And your mental model of how the cryptocurrency markets work is likely way too simplistic--did you know that cryptocurrency perpetual swap derivatives clear over $350B in daily volume? Pretend for a moment that Tether pulls a Nixon, and closes the "dollar window" ending redeemability. Then what would be the difference between Tether and e.g. the BitMEX XBTUSD perpetual swap contract? Just think about it for a while.
- gzer0 6y ago
  Editing my response because OP has edited theirs- putting my original comment out of context.
  - jkhdigital 6y ago
    Go read more economics. And maybe trade some financial derivatives, lose some real money and see how that sharpens your mind.
    - deleted 6y ago
      [deleted]
- cool_dude85 6y ago
  Ending redeemability? Can you redeem a tether for a USD today?
  - BelenusMordred 6y ago
    Yes, certainly can, right here: https://www.kraken.com/prices/usdt-tether-usd-price-chart/usd-us-dollar?interval=1m https://www.kraken.com/prices/usdt-tether-usd-price-chart/us... You can also short it if you are convinced Tether is going to collapse.
    - cool_dude85 6y ago
      Sorry, trading it for a dollar isn't the same as redeeming it for a dollar.
      - sekai 6y ago
        You can easily withdraw USD/EUR you got from trading in USDT.
        deleted 6y ago
        [deleted]
        mamon 6y ago
        You're missing the point: trading means that you have to find someone willing to do the trade with you. If no one wants to buy your Tethers then you're doomed. Redeeming is completely different - the issuer of your asset has a legal obligation to buy them from you (or at least that's how it should work for assets that aren't scam).
        BelenusMordred 6y ago
        So why not short it against USD? The choice is there on Kraken, it's arguably the easiest win possible if you are convinced USDT will eventually go to zero in the next few years? It's certainly not going to shoot above $1.
sekai 6y ago
> Considering the meteoric rise of BTC is tied so deeply to Tether issuances Got evidence for that? Because printing USDT after BTC went up is not a manipulation, but a liquidity boost. Let's not forget that USDT isn't the only stablecoin in town, it's ratio is actually decreasing, all the way from 3k to 50k.
- owenmarshall 6y ago
  As a matter of fact, https://onlinelibrary.wiley.com/doi/full/10.1111/jofi.12903 https://onlinelibrary.wiley.com/doi/full/10.1111/jofi.12903

Considering the meteoric rise of BTC is tied so deeply to Tether issuances, it sounds an awful lot like you’re trying to convince us the emperor really has clothes.

jkhdigital 6y ago

Correlation is not causation. And your mental model of how the cryptocurrency markets work is likely way too simplistic--did you know that cryptocurrency perpetual swap derivatives clear over $350B in daily volume? Pretend for a moment that Tether pulls a Nixon, and closes the "dollar window" ending redeemability. Then what would be the difference between Tether and e.g. the BitMEX XBTUSD perpetual swap contract? Just think about it for a while.

gzer0 6y ago
Editing my response because OP has edited theirs- putting my original comment out of context.
- jkhdigital 6y ago
  Go read more economics. And maybe trade some financial derivatives, lose some real money and see how that sharpens your mind.
  - deleted 6y ago
    [deleted]
cool_dude85 6y ago
Ending redeemability? Can you redeem a tether for a USD today?
- BelenusMordred 6y ago
  Yes, certainly can, right here: https://www.kraken.com/prices/usdt-tether-usd-price-chart/usd-us-dollar?interval=1m https://www.kraken.com/prices/usdt-tether-usd-price-chart/us... You can also short it if you are convinced Tether is going to collapse.
  - cool_dude85 6y ago
    Sorry, trading it for a dollar isn't the same as redeeming it for a dollar.
    - sekai 6y ago
      You can easily withdraw USD/EUR you got from trading in USDT.
      - deleted 6y ago
        [deleted]
      - mamon 6y ago
        You're missing the point: trading means that you have to find someone willing to do the trade with you. If no one wants to buy your Tethers then you're doomed. Redeeming is completely different - the issuer of your asset has a legal obligation to buy them from you (or at least that's how it should work for assets that aren't scam).
        BelenusMordred 6y ago
        So why not short it against USD? The choice is there on Kraken, it's arguably the easiest win possible if you are convinced USDT will eventually go to zero in the next few years? It's certainly not going to shoot above $1.

sekai 6y ago

> Considering the meteoric rise of BTC is tied so deeply to Tether issuances Got evidence for that? Because printing USDT after BTC went up is not a manipulation, but a liquidity boost. Let's not forget that USDT isn't the only stablecoin in town, it's ratio is actually decreasing, all the way from 3k to 50k.

owenmarshall 6y ago
As a matter of fact, https://onlinelibrary.wiley.com/doi/full/10.1111/jofi.12903 https://onlinelibrary.wiley.com/doi/full/10.1111/jofi.12903