erre (OP)
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January 28, 2018, 10:10:32 AM |
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With the last news about tether, I think it's going to implode soon.
I don't want to sell any of my btc, but I wish to be able to hedge this risk somhow. Is out there any place where I can short tethers, or any other roundaway to bet against it?
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TERA2
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Deb Rah Von Doom
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January 28, 2018, 11:05:58 AM |
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Go short on BTC/USD while going long on BTC/USDT
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60659 📦
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Samarkand
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January 28, 2018, 11:19:15 AM |
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...
I don't want to sell any of my btc, but I wish to be able to hedge this risk somhow. Is out there any place where I can short tethers, or any other roundaway to bet against it?
You could theoretically short USDT/USD at Kraken. Margin Open/Rollover Fee 0.005% per 4 hours
2:1 Margin is possible
However, the trading volume of the USDT/USD trading pair is pretty dismal and I would advise against trying to short it. Due to the low volume the price can be easily manipulated and I suspect that Kraken would suspend the trading anyway in the case of a strong drop based on the recent (or new) Tether news. |
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Denker
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January 28, 2018, 11:57:59 AM |
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With the last news about tether, I think it's going to implode soon.
I don't want to sell any of my btc, but I wish to be able to hedge this risk somhow. Is out there any place where I can short tethers, or any other roundaway to bet against it?
Well we don't have much information so far. Let's wait until more gets published. Hedging is possible. Go into futures market and open a short position. There are several platforms out there you can do this. No I don't think you can short Tether, but you can short Bitcoin. |
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alyssa85
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CryptoTalk.Org - Get Paid for every Post!
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January 28, 2018, 12:18:20 PM |
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With the last news about tether, I think it's going to implode soon.
I don't want to sell any of my btc, but I wish to be able to hedge this risk somhow. Is out there any place where I can short tethers, or any other roundaway to bet against it?
I think Bitfinex has a USDT/USD pair. So you can short tether betting that it will no longer be worth a dollar. |
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conty
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January 28, 2018, 12:32:21 PM |
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With the last news about tether, I think it's going to implode soon.
I don't want to sell any of my btc, but I wish to be able to hedge this risk somhow. Is out there any place where I can short tethers, or any other roundaway to bet against it?
you can short USDT/USD on kraken also |
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davis196
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January 28, 2018, 12:34:34 PM |
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With the last news about tether, I think it's going to implode soon.
I don't want to sell any of my btc, but I wish to be able to hedge this risk somhow. Is out there any place where I can short tethers, or any other roundaway to bet against it?
Why betting against tether,just get rid of your tethers are you are done.Why are you so sure that tether will implode?I thought that the value of USDT is backed by the USD reserve held by Tether limited.Is somebody going to steal that USD reserve?That reserve was about 3 billion USD.It would be the biggest online theft. Anyway,i`ve always hated that "cryptocurrency". |
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fabiorem
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January 28, 2018, 02:09:17 PM |
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Just get rid of it, if you have any.
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erre (OP)
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January 28, 2018, 04:23:14 PM |
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With the last news about tether, I think it's going to implode soon.
I don't want to sell any of my btc, but I wish to be able to hedge this risk somhow. Is out there any place where I can short tethers, or any other roundaway to bet against it?
Why betting against tether,just get rid of your tethers are you are done.Why are you so sure that tether will implode?I thought that the value of USDT is backed by the USD reserve held by Tether limited.Is somebody going to steal that USD reserve?That reserve was about 3 billion USD.It would be the biggest online theft. Anyway,i`ve always hated that "cryptocurrency". I think that tether is running a fractional reserve scheme, printing money out of thin air. That would be a bad news for btc ecosystem and so I fear the price could go down, but I don't want to sell any btc, just "place a bet" on tether collapse as an hedge about the possibility that btc crash. I will either investigating on finex and taken shorting, too bad I don't have any account and some time ago they were not accepting new users, is that still true? |
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Lopumbo
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January 28, 2018, 04:28:24 PM |
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I will either investigating on finex and taken shorting, too bad I don't have any account and some time ago they were not accepting new users, is that still true?
 you want to bet against the bank while asking the bank to do so? when tether crashes hard you better be holding only fiat |
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erre (OP)
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January 28, 2018, 04:32:48 PM
Last edit: January 29, 2018, 12:45:06 PM by erre |
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That's true, if tether falls I don't want any money (fiat or crypto) on exchangers who use it. Any other way of "betting against"? you want to bet against the bank while asking the bank to do so? when tether crashes hard you better be holding only fiat I will either investigating on finex and taken shorting, too bad I don't have any account and some time ago they were not accepting new users, is that still true? |
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millensharon8
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January 28, 2018, 05:30:05 PM |
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With the last news about tether, I think it's going to implode soon.
I don't want to sell any of my btc, but I wish to be able to hedge this risk somhow. Is out there any place where I can short tethers, or any other roundaway to bet against it?
I am definitely sticking with this plan as well, with all the scary news going around about USDT and it would be bad being caught unaware, so if I want to short, I will rather use an exchange that allows BTC/USD trading pair instead of USDT from now on. However, something like that happening will cause a lot of people to lose funds though and that can be crazy. |
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Murloc
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January 29, 2018, 12:18:51 PM |
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It is pretty obvious that 1:1 coin will die once it lose supply / demand balance for some period of time. The realy bad thing is that Tether is #23 on coinmarketcap and have $2 240 480 000 of the 24h volume. The collapse of such coin may cause another waves of shit (FUD) that may turn into the hurricane of shit, BTC may break the level of 10k and get lower.
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jimbo2000
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January 29, 2018, 12:40:40 PM |
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It is pretty obvious that 1:1 coin will die once it lose supply / demand balance for some period of time. The realy bad thing is that Tether is #23 on coinmarketcap and have $2 240 480 000 of the 24h volume. The collapse of such coin may cause another waves of shit (FUD) that may turn into the hurricane of shit, BTC may break the level of 10k and get lower.
If Tether does fail then it definitely won't be pretty, there will be a lot of FUD and there will be many people complaining they're not getting 1:1. I see Tether imploding more when there is a crash though instead of out of nowhere. This would obviously only further contribute to any crash. If there's a run on people wanting to cash out USDT to USD that's when I think it will fail. |
███████████████████████ ▀▄ Platio ▄▀ ███████████████████████
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SONG GEET
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January 29, 2018, 02:24:08 PM |
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Only trade crypto against USD or eur in kraken and coinbase like Fiat supported exchanges and keep those Fiat there or in your bank account to hedge against risk of lossing all when tether will get collapsed. If usdt will collapse whole crypto market will have a huge bloodbath like never seen before.
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alyssa85
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January 29, 2018, 03:22:43 PM |
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Someone on reddit asked Kraken their opinion about what is happening to Tether. Here is their reply:  USDT is not a big volume pair on Kraken, so I don't think they care what happens to it. For other exchanges like Poloniex and Bittrex, it is more serious (Polo and Bittrex have the biggest tether wallets). |
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