penig (OP)
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January 03, 2018, 10:26:51 AM |
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Since this is supposed to be tied to $, can anyone explain why Tethers value is not static? I could understand a small premium (as it saves people selling to $) but i dont know why it seems to trade in a +/- 4% range this past month (and as much as 1.08) at one point. Are people actually trading the coin?
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KingScorpio
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January 03, 2018, 10:30:37 AM |
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Since this is supposed to be tied to $, can anyone explain why Tethers value is not static? I could understand a small premium (as it saves people selling to $) but i dont know why it seems to trade in a +/- 4% range this past month (and as much as 1.08) at one point. Are people actually trading the coin?
liquidity crunches, or if people lose belive in tether, or when they cant buy goods for tether, because the supplier doesnt trust it. (it was once hacked and 30 million tether were removed, but they are unbacked) tether has to buy back his own Tether to secure value from those panic attacks, similar like banks have to give out gold when people paniked the truth is that tether cant back his USDT with US dollar, they have become a real Bank with godlike power to create money out of thin air and they never had to apply and fullfill the unsolvable banklicense problems regards
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realsmans
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Transforming the Global Shipping Industry
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January 03, 2018, 10:35:51 AM |
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Since this is supposed to be tied to $, can anyone explain why Tethers value is not static? I could understand a small premium (as it saves people selling to $) but i dont know why it seems to trade in a +/- 4% range this past month (and as much as 1.08) at one point. Are people actually trading the coin?
USDT is equivalent to US dollar, but otherwise, it is still coin. Tether team is trying to keep it close to dollar price, but anyway there will be a little error in price.
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lutcor
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Merit: 1
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January 03, 2018, 10:43:31 AM |
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I see nothing good in this project except fixing your deposit, but the structure of the project is very, very strange, because no one has seen their money. And hardly anyone can see them, so the project is rather risky.
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KingScorpio
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January 03, 2018, 10:48:51 AM |
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I see nothing good in this project except fixing your deposit, but the structure of the project is very, very strange, because no one has seen their money. And hardly anyone can see them, so the project is rather risky.
jep no one knows weather that money exists. these people secretly founded a bank, i tried making another tether but people are not able to work on a project, here they only can speculate or play world of warcraft
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svojoe
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einc.io
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January 03, 2018, 11:01:16 AM |
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USDT is a centralized coin with a huge lack of transparency. When they was hacked and smbd stole 30M they just make another 30M from nothing. It doesn't backed or tied with anything. Do not keep your funds with Tether.
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oscarrsm
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January 03, 2018, 11:05:41 AM |
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In fact, this is not a coin for trading. The fluctuation of the course by a few percent does not make much sense. Tether is used to fix money on the exchange, if the rate falls. If the cost of only one coin falls, then I translate the cost into bitcoin or Ethereum. If the top currency is also rapidly falling, then it makes sense to buy a tether, then to buy coins back much cheaper.
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Hellobx
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The Experience Layer of the Decentralized Internet
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January 03, 2018, 11:08:25 AM |
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Although the USDT and USD are 1:1 convertibility, in my country, the purchase of USDT requires a premium of about 10 percent.
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Acguy
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January 03, 2018, 11:08:36 AM |
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It is suppose to be one of one with the USD but what you are seeing is just a disparity between different exchanges.
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dij778
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January 03, 2018, 11:16:23 AM |
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Is USDT good for buying altcoins on exchanges like Bittrex?
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Red-Apple
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January 03, 2018, 11:18:51 AM |
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Since this is supposed to be tied to $, can anyone explain why Tethers value is not static? I could understand a small premium (as it saves people selling to $) but i dont know why it seems to trade in a +/- 4% range this past month (and as much as 1.08) at one point. Are people actually trading the coin?
the problem is actually because all the things you said here such as "being tied to dollar" and "be worth a static price of $1" are only user assumptions not reality or what the creators of tether said or promised. in fact they don't promise anything. if you read the website Tether is not even guaranteed to be able to be exchanged with dollar. it is just a token that happens to be $1 most of the times. that's all.
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adam1230
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January 03, 2018, 11:19:59 AM |
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Tether is not backed by USD and thats why price is changing. Also there are many rumors that tether is going to be the biggest scam in crypto history. I don't use Tether and will not use in the future.
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renes
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January 03, 2018, 11:36:39 AM |
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I think it is about supply and demand, you can't keep them equally so there may be some fluctuations between $0.97-$1.03. It's backed by usd in their bank accounts.
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penig (OP)
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January 03, 2018, 11:40:12 AM |
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I gave that hornet nest a good kick eh?
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GrandBcn
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January 03, 2018, 02:43:29 PM |
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Tether is not backed by USD and thats why price is changing. Also there are many rumors that tether is going to be the biggest scam in crypto history. I don't use Tether and will not use in the future.
Yes, most likely you are right. And Tether can be a fraud if everyone wants to buy it and put money into reality. But for today I do not see an alternative. Perhaps soon something will appear that is backed by real capital. And yet Tether conducted an audit six months ago, which did not show any big problems in accounting.
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lutcor
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January 04, 2018, 10:37:11 AM |
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Tether is not backed by USD and thats why price is changing. Also there are many rumors that tether is going to be the biggest scam in crypto history. I don't use Tether and will not use in the future.
Yes, most likely you are right. And Tether can be a fraud if everyone wants to buy it and put money into reality. But for today I do not see an alternative. Perhaps soon something will appear that is backed by real capital. And yet Tether conducted an audit six months ago, which did not show any big problems in accounting. Very privately, I see that people condemn the project of Tether but nevertheless it is still on all exchanges and nothing else is happening with it, that it is really unjustified and the people who created it simply take the crypto currency for air
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Azzhan
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January 04, 2018, 10:38:45 AM |
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Because when the number of people who buy USDT is increasing, then the number of USDT is certain, the USDT will not be sufficient, and there will be a premium at this time.
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dado7
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January 04, 2018, 10:48:26 AM |
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Tether is a tool used to make trading simpler as it is holding it's value. However, a constant increase of total crypto market value is pushing it's price up very hard and in order to keep the price constant they have to increase the number of tokens which is in turn driving it's price down.
It is very hard to keep the value of something at any time, not to say at the times of high volatility. They claim to have an USD in reserve for every Tether to keep the solvency. But for how long?
I am not saying that Tether is not a valid tool / project (we are not able to check it though) but from the economical point of view it is hardly tenable.
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lutcor
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January 05, 2018, 10:46:08 AM |
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Because when the number of people who buy USDT is increasing, then the number of USDT is certain, the USDT will not be sufficient, and there will be a premium at this time.
And how do you know how much money they have today? After all, no one knows this, just like we are with you, no one knows except them, so I think this project is a scam.
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natasha-lev
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January 05, 2018, 10:50:52 AM |
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Saw not very nice news that Tether may face some problems with provisions. It seems very risky coin to me.
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