Quote from: BlackHatCoiner on Today at 02:23:07 PM

Quote from: Princess Leah on March 04, 2024, 01:33:26 PM

Also, Tether recently released about a billion dollar USDT and afterwards we saw the price of BTC surge above its previous price of 62k to 63 and currently 65k plus.

This might have just been a coincidence, though. Which other evidence suggests newly minted USDT drives the Bitcoin price up? I personally see no connection between Tether's money supply and Bitcoin's demand.

Quote from: thecodebear on March 04, 2024, 11:22:51 PM

People always claim when new USDT is created it means they just created it out of thin air lol.

Can you prove it otherwise? If Tether does not provide proof of reserve of all these billions of dollars, then what is their money supply apart from thin air?

haha. Has anyone ever proved the conspiracy theory that Tether prints money out of thin air? Nope. Despite people making that claim for many years there is zero proof its true. It's just a crackpot theory for conspiracy theorists and for people who want to argue that Bitcoin has no value because it's all from fake Tether money haha.

The people making the outrageous claim are the ones who have the burden of proof. So the people making the claim that zero people have ever actually exchanged dollars for tether, despite millions of people using Tether for many years, and that it is $100 billion of fake money...this is the outrageous claim. Until anyone shows any proof of Tether printing money there is no reason to believe the conspiracy theories.

I mean if any of these conspiracy theorists actually thought about how stablecoins work, they'd laugh at themselves. When fiat being exchanged for Tether outstrips Tether supply they literally have to create more Tether. Because the whole point is its a stablecoin. If they don't make create more money when more money is used to get Tether then the price goes above $1. Likewise when Tether decreases, if people are unloading the Tether supply if the company doesn't reduce the supply then there will be too much supply and the price will go below $1.

So whenever some conspiracy theorist says "OMG they printed more Tether!!!!!" and they're freaking out about fake money, they are actually just freaking out that new money is coming into the market and buying Tether. That's literally how stablecoins work lol.

But if you still believe the "Tether is entirely fake" after all these years I doubt you'll ever accept the simple truth.

According to your argument, if I don't show you proof of my bitcoin addresses then I don't actually own Bitcoin lol.

I'll be more than willing to accept that Tether prints out of thin air.....as soon as there is literally ANY EVIDENCE AT ALL that it's true. So far, after many years, zero evidence. While the simple dynamics of how stablecoins work perfectly accounts for why more Tether is created over time, same with any stablecoin that increases supply as the crypto world expands. The vast majority of the time the simple common sense answer is the truth buddy, not the conspiracy theory with zero evidence.