[jesuscakes]

http://stockemperor.com/currencies/tethe...overnment/

So what happens if they are full of shit which is starting to seem increasingly likely? There are 2.2 billion tether now according to here: https://wallet.tether.to/transparency

This means about 1% of the market is tether. Does this mean if it goes belly up the market will only lose 1% of value or are we looking at an apocalyptic scenario?

[wit]

This is not good at all, tether was designed to "tether" itself to the value of the dollar, marketing itself as a stable link between FIAT and crypto.

I saw a big thread here about the huge negatives that this will have, I will link when I find it.

[Babz]

Going off what the user above me said, this is clearly not good if they printed more money than the federal reserve has, undervaluing it.

[The Slotfather]

Yeah, you can end up having Tether instead of fiat which can drop extremely much lefting you with empty hands. Better not put money into this thing

[Jesse Pinkman]

Tether bouta fuck the market as a whole. Sweet.

[bboy332]

Has crypto seen something like this before? What are the odds everything could recover if it did take a big stab at it

[lucky.]

Has crypto seen something like this before? What are the odds everything could recover if it did take a big stab at it

Odds of the market recovering are almost sure. Crypto has taken many big hits and hasn't died yet, but it could be a long time to come back to this level depending on the fallout/if there is one.

[Zoo]

The real question is, what would happen to all the exchanges that have a lot of their trading pairs with USDT?

Binance alone has $600m+ daily volume with just their USDT pairs

[Ninetales.]

uhh i m ade a thing

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The real question is, what would happen to all the exchanges that have a lot of their trading pairs with USDT?

Binance alone has $600m+ daily volume with just their USDT pairs

Exchanges will carry it throughout the blood bath, as the price of our regular coins will skyrocket with Bitfinex's USD pairs and other exchanges USDT pairs.
Tether holders are left with nothing but a shell company to sue.

[Babz]

Has crypto seen something like this before? What are the odds everything could recover if it did take a big stab at it

Yeah, XRP actually plans on releasing coins into their pool to saturate and 'stabilize' the price over the course of the years. In my opinion, we'll never see anything over $3.5 in ripple unless some insane pump comes in.... in my opinion at least.

[ʀevo]

tethers are just as shady as the us dollar itself lmfao

[๖ۣۜLucky Luciano]

I've always had a feeling that something about Tether was fishy; I'd be lying if I said I've never Tether switched for quick profit but their business model always screamed shady to me.

Like a user said above, not only would this be crippling for Tether but the amount of losses that exchanges would likely have to eat...

[stdio]

Yeah, XRP actually plans on releasing coins into their pool to saturate and 'stabilize' the price over the course of the years. In my opinion, we'll never see anything over $3.5 in ripple unless some insane pump comes in.... in my opinion at least.

Some fucker on HF said the same thing that its impossible for ripple to hit 1$ as they are too many of em (the thread can be found) :D when XRP was 0.15$ then. I researched about it a lot and ended up selling most of them :(
XRP can hit 5$ this year, don't be fooled and do your own research.,

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I've always had a feeling that something about Tether was fishy; I'd be lying if I said I've never Tether switched for quick profit but their business model always screamed shady to me.

Like a user said above, not only would this be crippling for Tether but the amount of losses that exchanges would likely have to eat...

Rule of the game is you increase your btc and keep private keys with you, 98% of the alt coins won't be around after 5 years. USDT is pretty fishy as you said we must keep away from it.

[n31ght0]

i don't understand why binance not ban this coin. it seem they choose to support it and people who use it

[g0han]

http://Makerdao.com, hopefully everyone switches to this in the near future