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As of press time, USDT (Tether) is currently trading at a slight premium to USDC[1]. There's no indication that the market is pricing an imminent collapse to Te
by dcolkitt 5y ago
As of press time, USDT (Tether) is currently trading at a slight premium to USDC[1]. There's no indication that the market is pricing an imminent collapse to Tether.
[1]https://info.uniswap.org/#/pools/0x7858e59e0c01ea06df3af3d20ac7b0003275d4bf https://info.uniswap.org/#/pools/0x7858e59e0c01ea06df3af3d20...
- grey-area 5y agoI don't trust those prices I'm afraid - the price of most cryptocurrencies is manipulated heavily, and this one in particular by printing tether - the peg is a lie (as shown by AG investigation), the backing is a lie (as shown by Tether's admissions), and it's going to zero eventually IMO when the lies unravel. See this recent story for more detail: https://news.ycombinator.com/item?id=27151370 https://news.ycombinator.com/item?id=27151370
- jtbayly 5y agoCurrently people are fleeing to Tether, so of course the price is up. The implication of the parent comment was that the Tether printer could be getting out today, which would cause BTC to drop. The question then becomes what happens tomorrow. Are people going to try to get out of the Tether that they've jumped into today by going to BTC or USD? If they go to BTC, then no problem, the price goes back up (some). If they try to go to cash, BTC keeps dropping. Tether's value doesn't have to crash for the Tether machine to stop running and cause a BTC crash. Though, at some point in the process it would start dropping, and that would then cause a further BTC price drop.