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It's not remotely priced in. The BTC price is currently held up by USDT inflows, rather than USD. Tether issuance notifications are the most reliable leading i
by WalterSear 5y ago
It's not remotely priced in.
The BTC price is currently held up by USDT inflows, rather than USD. Tether issuance notifications are the most reliable leading indicator in crypto: they are all you need to trade BTC.
Most people in crypto aren't even aware of the problem. Most of the ones that are, refuse to accept the situation and get very emotional when it's brought up.
- toomuchtodo 5y agoIf Tether went to zero today, what would the true price of BTC be?
- arcticbull 5y agoIt's very difficult to say because the waterfall of cascading liquidations would shut down exchanges. It would take quite a while for things to settle down enough for a real fiat market to exist. The whole market is propped up by stacked leverage.
- WalterSear 5y agoGiven that it's being issued specifically to manipulate the market (it's not just a 'whale'), and the fact it's involved in 70% of crypto trades, I can't see a way to put a floor on it.
- reginold 5y agoNeat where do you track Tether issuance notifications?
- abrodersen 5y agoThe canonical method would be to call the `totalSupply()` method on Tether's ERC20 contract.
- WalterSear 5y agoTwitter bots are easiest, though they come and go. But you can see the issuing wallet here: http://omniexplorer.info/lookupadd.aspx?address=3MbYQMMmSkC3AgWkj9FMo5LsPTW1zBTwXL http://omniexplorer.info/lookupadd.aspx?address=3MbYQMMmSkC3... Or visit Tether's site: https://wallet.tether.to/transparency https://wallet.tether.to/transparency
- deleted 5y ago[deleted]