Tether

[stigmacryptonight]

What is the speciality of tether?Why most people use it?

Easy, simple, of course, ordinary people who are not professionals can use well

[jerry0]

dang, so you are basically saying that when btc and of course altcoin prices drop, you sell it for btc to usdt.  Then if the market keeps getting worst and worst, thats great for you because you are holding usdt waiting to buy at a really low price.  So the more it drops, the better than right?  Then once it drops to a certain point or rises just a bit, you buy the btc back or btc and buy the altcoin back?  Thus imagine prices keep going down then up and then down etc.  Say the btc or altcoin goes back to same price but there were a lot of ups and downs.  The holder even though he doesnt sell anything, well even if he did, he make none because a coin could hit 10 dollars, drop to 5, and repeat itself right?  Thus you would be making real profit by trading it right?  Im curious but do you do this with btc or mainly with altcoins with what you used in your example.  Because im thinking altcoins are probably better to trade than bitcoin, eth etc?

[Herbert2020]

Tether is worth $1 and have been worth $1 for 99.99% of the times. that makes it special.

but "most people" don't use it because it is shady and it is risky although it may seem convenient at times. the company behind it is printing more and more of it like mad men and if some day that company (which is the owner of bitfinex also) disappears Tether will disappear with them.

The only reason people think that is because of the current on going investigations, but they have reason to suspect shady business. Tell me, why would a company who has a transparent blockchain not hand over records right away and say here look 1:1 dollars in every account; it is all there accounted for. I will tell you why, it is because they probably don't have it and for that reason I stay very clear of this weird token.

well it has always been shady, it is not just because of investigation or not being backed by dollar 1:1
it is also because it is weird. if you check the website for example they are not even guaranteeing the 1:1 thing and they are not even guaranteeing the exchange of 1 USDT with USD at any rate! you have to accept it "as is".
not to mention that it is centralized and they are rejecting certain countries! what is that all about in a cryptocurrency!

[littleDarper]

Tether is worth $1 and have been worth $1 for 99.99% of the times. that makes it special.

but "most people" don't use it because it is shady and it is risky although it may seem convenient at times. the company behind it is printing more and more of it like mad men and if some day that company (which is the owner of bitfinex also) disappears Tether will disappear with them.

Agreed, a lot of suspicions have arisen lately surroudning Tether. But notice on their official wallet they haven't minted any new coins for a very long time now. Perhaps they're attempting compliance and no longer wish to be a printing press like the federal reserve?

[Martinkuhn]

I think as a stablecoin, tether is the best and the default that we all are using.

But with the subpeona over their heads, I try not to be holding tether too long and use it to take profit when I sell altcoins and I tend to buy other low valued altcoins immediately.

I only hope that they can prove that they have the money to back up all the tether that has been printed so far; since this was their starting promise.

As a industry, we all need stablecoins.. tether being the best of them at this moment.

[VanKleiss]

What is the speciality of tether?Why most people use it?

Be careful in using it, or better not use it at all because  the platform that make it doesn't even cash it out as fiat. They create it to gain bitcoin which means it has no value at all. Even the US government  don't consider it as a backup cryptocurrency for US dollar.

[goyal.dkg]

What is the speciality of tether?Why most people use it?

Personally I use it during big BTC/altcoin correction. Tetcher is most stable coin comparing to USD during market dumps

tether is back up by USD , so how it is more stable in compare to USD ??
it is just easy to transfer between exchanges , but bcoz of recent news it caused a lot of panic .