Quote from: hugeblack on Today at 06:35:42 PM

Quote from: mrfckumn on Today at 04:45:35 PM

like binance is doing with tether - they are "printing" fake casino money to inflate price of BTC using USDT (80 billions currently) - if anybody decide to create crypto market exchange and create for example USDA token (just like USDT alternative with also "covered" 1:1 to USD dollar) and print every day few millions of USDA - and then buy BTC to inflate price to 1'000'000 USD/BTC.

Is there any evidence of cooperation between tether and Binance to manipulate USDT prices? I don't think there is a link, it can be understood with the BUSD.

There are facts you should know:

USDT is backed by promises: There is no 1 USDT == 1 USD in bank, and therefore all that preserves its value is to continue to make promises that there is a real dollar for each USDT, and therefore you should avoid it if you want a stablecoin outside the platform.

USDT is used within the exchanges and this is only a small percentage (less than 10%) of the real Bitcoins.

I think these numbers do add to the argument in favour of considering that bitcoin price is being artificially inflated by the issuance of "tethers" in all their varieties. Even if only 10% of the bitcoins are exchange, price manipulation is even simpler and the depth of the market is low and it can be easily altered. If the USDT is not effectively backed up 1:1 then is leveraged and thus adds strength to the ability to artificially manipulate the market price and even the marketcap.

For me, all this sound sketchy and very far from the original intent of creating a coin that offers certainty and trustless exchanges.