What is usdt??

[erk]

I only just noticed USDT too.

I presume it exists to get around the money laundering laws that apply to fiat, and the tricky rules that banks like to apply to fiat <=>crypto exchanges.  By using USDT you exchange remains at arms length from the fiat rules.

[martinbrock]

It's interesting, that the rate is now under 1$ although it should be backed by Tether company.
http://coinmarketcap.com/assets/tether/
That means there is either some heavy speculation or there are signs that Tether cannot guarantee that they buy back all USDT for 1 USD each.

[jsfour]

I actually just put a great overview of Tether (USDT) on my blog if anyon wants a good overview.

"The theory behind USDT is simple. A company called Tether created their own token on top of Bitcoin using Omni Layer. Then Tether holds 1 US dollar in a reserve fund for each USDT token issued. So when you open up a Tether account and deposit $100 into it, Tether holds that $100 in reserve and then issues you 100 USDT tokens which you can then take into the exchanges and trade with. Whenever you decide that you want convert back to US dollars, you send the USDT tokens you’ve accumulated back to your Tether account and tell them to wire the equivalent money to your bank account."

Read the whole thing at: http://www.jsfour.com/untethered

[Zadicar]

I actually just put a great overview of Tether (USDT) on my blog if anyon wants a good overview.

"The theory behind USDT is simple. A company called Tether created their own token on top of Bitcoin using Omni Layer. Then Tether holds 1 US dollar in a reserve fund for each USDT token issued. So when you open up a Tether account and deposit $100 into it, Tether holds that $100 in reserve and then issues you 100 USDT tokens which you can then take into the exchanges and trade with. Whenever you decide that you want convert back to US dollars, you send the USDT tokens you’ve accumulated back to your Tether account and tell them to wire the equivalent money to your bank account."

Read the whole thing at: http://www.jsfour.com/untethered

This sounds interesting but who would mind on having a 1:1 ratio? I didnt even heard about this coin and if i wasnt able to read it now then i wouldnt know still that this coin do exist. Ill read the link later and it seems this coin do really have some potential.I was little bit behind in the news relating to new coins existed or even some didnt even heard or did just missed because of lacking interest on knowing ann threads,

[jsfour]

USDT is used quite a bit by exchanges actually. Poloniex, for instance, uses it for their USD calculation.

[wwzsocki]

USDT is used quite a bit by exchanges actually. Poloniex, for instance, uses it for their USD calculation.

It's really great like FIAT usd, eur. I can withdraw to my bank in euro.

[x8currency]

There is an alternative to Tether coming up. A safe and stable haven for crypto investors - X8currency. A brief articles comparing USDT and X8: https://www.ionectar.com/the-rise-of-tether/

https://x8currency.com/

[rayk]

It is 1-to-1 backed digital currency, it was created through omni platform and each usdt coin is backed by a us dollar. I think it is one of the useful coins.

[Cheburekus]

I also saw USDT on Poloniex and Bittrex and as I read, USDT (USD Tether) is a cryptocurrency asset issued on the Bitcoin blockchain. Each USDT unit is backed by a U.S Dollar held in the reserves of the Tether Limited and can be redeemed through the Tether Platform. USDT can be transferred, stored, spent, just like bitcoins or any other cryptocurrency

[ActiveP]

Can anybody enlight me 
Thx

usdt is a cryptocurrency asset issued on the bitcoin blockchain via the omni layer protocol.....each USDT unit is backed by a $ held in the reserves of the tether limited and can be redeemed through the tether platform.

[cynical]

So on the forums usdt can be used to trade against or to exchange coins to tether and from tether

[crypto_trader#43xzEXrP]

Cann't see omni support team or any support of Tether USDT tokens, so leave this comment here.

Dev's, can you fix the comissions for transfer tether USDT tokens and can you fix display full amounts in your system??
I see the comissions is over 27300 satoshies, because there is three nulls after the point!
I got 2730 satoshies from cryptopia on my BTC address for each transfer USDT, but it so low ammount for transfer this tokens.
You can see it here: https://blockchain.info/address/18y4imCZsarP79LPFmPHv7SmgZ4ohSrVNF
0.000273 it's not 273 satoshies and it's not 2730 satoshies - it's 0.00027300, so 27300 sat for each transfer TetherUS (USDT)!
Cryptopia willn't pay so much that means your tokens is illiquid shit then, if anyone cann't transfer it
without bitcoin fees exists on the address... =(

[cryptonianz]

Basically its the dollar on the blockchain. It helps you easily convert it when trading on platforms like Poloniex.

For example, when Bitcoin / Altcoins are going down, you can easily convert them to USDT and you can rebuy at lower prices.

Imagine whenever you wanted to sell the coins you had to make them in Euro. That would be painfully complicated!

[pey]

It is like a digital usd. 1 usdt is always equal to 1 usd, the company always hold same amount of usd with the market cap in their bank account.

[ranman09]

I actually just put a great overview of Tether (USDT) on my blog if anyon wants a good overview.

"The theory behind USDT is simple. A company called Tether created their own token on top of Bitcoin using Omni Layer. Then Tether holds 1 US dollar in a reserve fund for each USDT token issued. So when you open up a Tether account and deposit $100 into it, Tether holds that $100 in reserve and then issues you 100 USDT tokens which you can then take into the exchanges and trade with. Whenever you decide that you want convert back to US dollars, you send the USDT tokens you’ve accumulated back to your Tether account and tell them to wire the equivalent money to your bank account."

Read the whole thing at: http://www.jsfour.com/untethered

Thanks for this explanation made it clearer and somehow possible. But What do we have to prove that this reserve exist? Do they have a public ledger or something?

[aimexlondon]

I would like buy some USDT but according the site:Registrations are offline while we rebuild the system.

[KevenDabid]

USDT is 1 to 1 dollar equivalents, but USDT may exist more cash, so you need to use USDT carefully, but USDT when the currency fell as a safe-haven asset is a must.

[klebsiella]

USDT and other Tether currencies were established to facilitate the transfer of national currencies or the fiat money to help users with a stable alternative to bitcoin and to give an alternative for exchange and wallet audits which is currently inaccurate.

[mensha]

For USDT, is there any government money involvement or any will it depend on any legal requirement like fiat currencies? Does the price of USDT is always same as USD? And what is the real purpose of people using USDT currency?

[yrsat]

USDT is a cryptocurrency asset issued on the Bitcoin blockchain via the Omni Layer Protocol. Each USDT unit is backed by a U.S Dollar held in the reserves of the Tether Limited and can be redeemed through the Tether Platform. USDT can be transferred, stored, spent, just like bitcoins or any other cryptocurrency, users can transact and store tethers with any Omni Layer enabled wallet like Ambisafe, Holy Transaction or Omni Wallet.