how many people here are using tether?

[European Central Bank]

and are you fully aware of what's going on with it?

if not then you should get with the plan. the peg on kraken is now slipping. it's currently 96.99c to the dollar.

as ever, another pegged coin don't peg no more. i hope its shit gets sorted out but once again depending on a third party fails to pay off.

[1715105006]

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[Nagadota]

Damn, loads of people are using Tether to hold their coins through all the instability right now.  If it properly fails it would cause a huge drop in the Bitcoin price along with Bittrex.

[thebatletbet]

i think tether user is very low
and not all country can get register and use tether.io, in my country not supported if registe tether.io
in 2016 tether io only support 2 exchanger bitfinex and poloniex

[European Central Bank]

i think tether user is very low
and not all country can get register and use tether.io, in my country not supported if registe tether.io
in 2016 tether io only support 2 exchanger bitfinex and poloniex

hardly anyone is bothering to register with tether themselves.

if you hadn't noticed bitfinex and poloniex are the biggest exchanges in the world in their respective areas and tether is one of the main options on both of them.

[xuan87]

I ever heard but not too pay attention with that coin, the coin is always around 1$ and there no big swing, it is one of the most stable alt coin I ever seen, but because of this, it is not too profitable to trade using it

[@prashant]

I ever heard but not too pay attention with that coin, the coin is always around 1$ and there no big swing, it is one of the most stable alt coin I ever seen, but because of this, it is not too profitable to trade using it

this coin was not made to gain or loss profit. it was made to simplify the buying cryptocurrency without undergoing different procedures.you can say it is like a paypal or any other virtual wallet but it is secured by cryptography that's why poloniex and bittrex use it.

[BitcoinNational]

Does anyone read the fine print?

Crypto needs a pegged $ / portable / token.

The exchanges themselves need to manage (fund the cost of slippage prevention).  It is to their benefit in trade fees.

The thing can scale, but it needs more LLP participants, lockin in blocks of $50k / $100k / $500k, some legalese, notary and audit agents.

not made to gain or loss profit
made to simplify the buying of cryptocurrency

Piece of cake.  

[NUFCrichard]

I use tether sometimes, it is just a nice way to trade into fiat, without trading into fiat.

I think they will manage to weaken or strengthen tether back to 100c, it isn't supposed to be perfect all the time, but it has to return to the level of the USD.
Looking at cryptocoincap it is currently $0.999440, looking at the chart it is always very close. Seems good enough to me.

[ppc.pt]

This coin was always a mystery for me. Really can't understand it. How can you maintain a price with people buying and selling by the second.

If someone could explain it in a simple way, like I'm really really dumb, I would highly appreciate it.

And how safe it is to own it on bittrex and poloniex

[NUFCrichard]

https://tether.to/faqs/

Seems to cover mos of the main topics about USDT.

'Tethers are new assets that move across blockchain just as easily as other digital currencies. Tether currencies are not money, but are digital tokens formatted to work on blockchains. Tethers hold their value at 1:1 to the underlying assets.'

So you can only ever trade in a USDT for 1USD, so it can't be worth more than 1USD. It won't be worth less either, otherwise you can  buy then for less than 1 USD and sell them for 1USD.  I think that is how it works.

[BitcoinHodler]

that is why i have never used Tether in my life, despite wanting to do it so much. i am always scared of its price, there is nothing really guaranteeing its price and it can go down from being worth $1

back in August when bitfinex was hacked and everything turned into shit, USDT price went down to $0.96 easily and stayed there for a couple of days.

who is to say it is not going to do that again, another exchange may get hacked like poloniex, heck it may even be bitfinex again.

[European Central Bank]

So you can only ever trade in a USDT for 1USD, so it can't be worth more than 1USD. It won't be worth less either, otherwise you can  buy then for less than 1 USD and sell them for 1USD.  I think that is how it works.

that's the idea in theory but it's slipping from $1. Now it's 95.5c. it's caught up in the same banking problem that bitfinex has as far as i know. without operational banking it's not gonna be very functional.

[mynhpark]

Well, I have not used Tether that much, but BitUSD and BitEUR instead. These are bitshares (BTS) platform smartcoins. A smartoin is a cryptocurrency whose value is pegged to that of another asset, such as the US Dollar or gold. Smartcoins always have 100% or more of their value backed by the BitShares core currency, BTS, to which they can be converted at any time at an exchange rate set by a trustworthy price feed.

[pereira4]

I've used it numerous times to go back and forth from BTC without buying another altcoin, but I will probably stop doing this since it seems it's not as safe anymore.
Is Bitshares a good alternative?

[LittleBitFunny]

So you can only ever trade in a USDT for 1USD, so it can't be worth more than 1USD. It won't be worth less either, otherwise you can  buy then for less than 1 USD and sell them for 1USD.  I think that is how it works.

that's the idea in theory but it's slipping from $1. Now it's 95.5c. it's caught up in the same banking problem that bitfinex has as far as i know. without operational banking it's not gonna be very functional.

That's odd.  On coinmarketcap it still says it's worth about $0.999.  On most exchanges except Kraken it's still worth very close to a US dollar (Poloniex price $0.998).  On all of the most traded pairs it's up there still.  Their funding problem could cause issues in the future, but I don't know what's going on with Kraken.

[sp_skeptic]

If you haven't read the TOS at tether.to/legal you need to do so.

Tether specifically disclaims any obligation to redeem Tethers for money.

[jjacob]

If you haven't read the TOS at tether.to/legal you need to do so.

Tether specifically disclaims any obligation to redeem Tethers for money.

Most people only use tether at exchanges. They just use it when they want to go short on Bitcoins or book profits.
I doubt if anybody even visits tether.to

[sp_skeptic]

If you haven't read the TOS at tether.to/legal you need to do so.

Tether specifically disclaims any obligation to redeem Tethers for money.

Most people only use tether at exchanges. They just use it when they want to go short on Bitcoins or book profits.
I doubt if anybody even visits tether.to

Tether makes a big deal about Tethers being backed 1:1 by money in the bank. How is that even relevant if there is no obligation to redeem Tethers for dollars? Has Poloniex or any other exchange pledged to support the peg? Not to my knowledge. If there is no obligation on the part of anyone to redeem Tethers at par it's just blind faith that is supporting the price.

[sp_skeptic]

As of this moment Bitcoin is 1263 in Tethers on Poloniex and 1201 in dollars on Coinbase. If you have faith in Tethers there is an arbitrage opportunity there.

[BitcoinNational]

So you can only ever trade in a USDT for 1USD, so it can't be worth more than 1USD. It won't be worth less either, otherwise you can  buy then for less than 1 USD and sell them for 1USD.  I think that is how it works.

that's the idea in theory but it's slipping from $1. Now it's 95.5c. it's caught up in the same banking problem that bitfinex has as far as i know. without operational banking it's not gonna be very functional.

That's odd.  On coinmarketcap it still says it's worth about $0.999.  On most exchanges except Kraken it's still worth very close to a US dollar (Poloniex price $0.998).  On all of the most traded pairs it's up there still.  Their funding problem could cause issues in the future, but I don't know what's going on with Kraken.

jesuit freaky Mice!

someone actually investigated these claims

for some reason only Krak has this 'issue'

---
The peg is not a difficult problem.
Again the exchanges need to underwrite a common token(s) of fiat fixed value.
They are signaling $TET (omni platform) as their preferred choice.
_{IMO ... not to sure if I have full faith in anything Brock 'Cheese Pizza' Lover touches}

There likely will be some slippage in the 24/7 markets ...
BUT ... here's the key idea ...

The exchanges, and VIPs can go to the issue'r, a clearing house, and get $0.99999999 at fixed windows of withdraw.

This is central banker 101.

It is easy to do.

The slippage can be fixed 'in House' by setting a fixed rates of:

$0.99999 of BTC at next 12pm payout 48hrs from now  
$0.99991 of BTC at next 12pm payout 24hrs from now  
$0.99911 of BTC at next 12hrs payout  
$0.99111 of BTC at next 6hrs  payout
$0.98000 of BTC at next 3hrs  payout  
$0.97500 of BTC at next 2hrs  payout
@spot right this instant