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Bitcoin's price "in USD" makes more sense as a price "in USDT". It's completely unsurprising that Bitcoin went up relative to USDT after this news. The big que

Bitcoin's price "in USD" makes more sense as a price "in USDT". It's completely unsurprising that Bitcoin went up relative to USDT after this news. The big question is when the peg of 1 USDT ~= 1 USD (or USDC) is going to break. Tether is going to do everything they can to maintain that peg as long as possible.

xur17 5y ago
> The big question is when the peg of 1 USDT ~= 1 USD (or USDC) is going to break. Tether is going to do everything they can to maintain that peg as long as possible. Yuup. Assuming USDT is a fraud, Tether likely makes very good money off of it, and is hence HEAVILY incentivized to keep it running as long as possible. I'd be very curious to hear theories as to what might cause it to collapse.
- adflux 5y ago
  Complaints by companies trying to exchange usdt to usd
  - xur17 5y ago
    But those companies would only complain if Tether stopped redemptions, which presumably would only occur if they ran out of cash. You'd need some other outside impetus to trigger it all.