If the tether bomb dropped today, how low do you think BTC would go...

If the tether bomb dropped today, how low do you think BTC would go? My investment scenarios have it hitting $2500-$3000.

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tether could explode literally any second
but it hasent for years so i dont know

but i wouldt want to have my money in usdt for longer than 5min

BTC would go back to 20k, retard.
That money has to go somewhere.

Odds increased substantially after news of the subpoena & their auditor ditching them.

Oh this shit again! Fucking Tether sold their BTC during the January crash - so they have the money you literal faggot.

lolno, everyone would try to dump their tether, but nobody would buy. Millions of dollars in value would evaporate from the crypto space.

At least as low as the 4000s. Below that is anyone's guess.

They don't have 1:1 USD like they claim. I can say that with absolute confidence.

Most likely they have the money but they got it by illegally shuttling money around like Shkreli did. Sell when they announce a new auditor kek

Confidence but no evidence

They don't even claim that. If you took the time to read the fine print, you'd know.

>absolute confidence


Do you know how much money these exchanges rake in each year?

What do they claim? That was my understanding from the whitepaper.

Why do people even care if USDT is backed by fiat?

Tether's only value is that it is constantly stuck at $1 on exchanges. I don't care if that's artificial or not. It's nice to know that I can go away for the weekend without holding some shitcoin that could lose 80% in 5 minutes

In fact I HOPE that exchanges are manipulating something to keep it that way.

the billionaire coin also artificially keeps their price at a specific value. do you also trust in that?

>Why do people even care if USDT is backed by fiat?
Because in theory if the entire crypto market crashes you can still ring up tether and be like hey I have 1 USDT give me a dollar thanks.
If you don't see why this is useful I don't know how to help you.

probably around 350 dollars (pronounced tree fitty)

This. How many times have you heard of someone cashing out tether? It will loose its dominance soon anyway with fiat pairings on new exchanges.

Most people seem to think BTC's floor is around 6k. If it goes much below that you will find out how robust tether is

Wrong, because I can't even remember being able to cash out Tether for USD, but it is still incredibly useful.

Why? Because having it stuck at $1 means it holds it's buying power. It has NOTHING to do with cashing out. I can walk away for 2 days and still have all my gains when I come back.

That's tether's REAL utility.

HAHAHAHAHA fuck man I think you're right. It doesn't look like it's possible to actually "cash out" at all. People DEFINITELY think this though so idk I guess we're just waiting for the shit to hit the fan

Also it claims on their homepage that you can withdraw directly to bank account.

Cool. Post evidence.

And who gives a fuck? DAI is out now.

That's not unique though. DAI is transparent and works fine.

these dollar fixed coins call them selves stable coins but that isnt accurate. they are FIXED price coins. a true stable coin would have minimal volatility and still make gains. please crypto people lets stop calling fixed coins 'stable' coins

Why hasn't DAI been adopted by any major exchanges then?

If it comes to Bittrex or Binance then I'll happily use something trustworthy over USDT...