Quote from: Webetcoins on Today at 05:45:20 AM

Even with that in mind, it would not make any sense that crypto would fall, how could it fall? I mean shouldn't the idea be that people would want to sell their tether and get crypto instead? Shouldn't that cause the price to go up? I mean there is really no logic here where tether being worthless could hurt crypto, after all people who run away from crypto should be capable of actually increasing the value of bitcoin instead, that should be the case honestly.

Of course this doesn't mean that tether will suddenly go down soon, or it doesn't mean that people will lose hope right now, I just mean to say dude said crypto could be bought cheaper because most crypto would be pegged to USDT but I feel like just the opposite is more possible. In fact it would be great for bitcoin if USDT turns out to be something bad, at least people who hold USDT would exchange it for bitcoin no matter what the bitcoin price would be.

You guys are right, if tether loses any sort of credibility, that would mean great things for bitcoin, because people who leave USDT will go to other crypto, but we are not talking about just bitcoin here, because at this day you do not have just bitcoin as an option, like if they want to go to stable anyway they could turn their USDT into btc for a short while but go towards USDC or BUSD or DAI or anything they want something like that, because if they were in stablecoin they could turn that into crypto for a while but there was a reason why they were in stablecoin and that if that reason is still there, they could still end up using stablecoin easily, and price will not change too much for anything aside from USDT.

Maybe for a short while those other stablecoins could go up in price but people will use arbitrage to make a profit from that for sure.