Funky_Yoda (OP)
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February 13, 2018, 03:57:40 PM |
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Just wondering. Its always 1 dollar, give or take 2-3 cents some times
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sylance
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February 13, 2018, 04:10:22 PM |
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https://en.wikipedia.org/wiki/Tether_(cryptocurrency) Essentially, the group behind Tether promises to hold one US dollar for every coin they mint. Thus it's worth a dollar because you can always buy them straight from Tether. It's a much needed mechanism on exchanges so we can have a stable currency on one side of the trading exchange. This also replaces real USD for exchanges so they can bypass KYC (Know Your Customer) regulations and other laws required for institutions that trade with US dollars.
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captain8
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February 13, 2018, 04:21:01 PM |
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I get why USDT exisits and think its a brilliant concept, i just dont fully trust it,
Can anyone convince me otherwise?
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lakimens
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PVxYGaa1UZM6oDqW3ZKe4Esi18DgwBpDkr
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February 13, 2018, 04:43:05 PM |
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I get why USDT exisits and think its a brilliant concept, i just dont fully trust it,
Can anyone convince me otherwise?
Tether were subpoenaed in December, it's now February and they haven't received a C&D. Just wondering. Its always 1 dollar, give or take 2-3 cents some times
That's the point of it. Digital USD. Instead of cashing out before a crash, you convert to USDT. |
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coastbank
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Presale Starting May 1st
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February 13, 2018, 04:46:49 PM |
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It was probably released as great alternative to real usd, because it is very hard to go to real usd from altcoins when crash is happening. But bitfinex, company behind tether made shady things that I am not gonna describe (you should research).
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Turkish88
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February 13, 2018, 04:47:23 PM |
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USDT is digital analogue of fiat dollar.
Tether says what every coin accepted by real dollar but recently they were summoned to court
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Help to Ukrainian citizens
ETH donations adress - 0xe23CB47AC32F0b8750d4D0Dd4e160Fa6F8fF30EF
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sylance
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February 13, 2018, 06:19:50 PM |
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I get why USDT exisits and think its a brilliant concept, i just dont fully trust it,
Can anyone convince me otherwise?
I don't trust it either but really my only alternative when the market is falling is to cash out everything to bitcoin and send to Coinbase... then cash out to USD. That'll cost huge fees and it puts my transaction onto Coinbases radar which I don't really want to do. I do hope Tether gets its act together or another competitor shows up that does the same thing. |
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Mi5h0
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February 13, 2018, 06:45:50 PM |
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Just wondering. Its always 1 dollar, give or take 2-3 cents some times
Like other cryptocurrencies it uses blockchain. Unlike other cryptocurrencies, each USDT unit is (according to the official Tether web site) 100% backed by USD (USD is held in reserve). Basically, Tether converts cash into digital currency, to anchor the value of the coin to the price of fiat currencies like the US dollar, the Euro, and the Yen. However, if you are interested in using Tether, I’d advise never storing significant sums in it and always use Tether short-term and with caution. Tether is directed by some of the same people behind Bitfinex and new Tether accounts flow mostly to Bitfinex. Critics accuse Bitfinex and Tether of running a fractional reserve scheme: more USDT are issued than are backed by fiat dollars. Critics further allege that unbacked Tether accounts are used to artificially inflate the price of Bitcoin for the purpose of market manipulation. |
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chocopapaya
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February 15, 2018, 01:15:16 AM |
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Whoooaaaaahhhhhh, stay away from usdt.
As people have said, it is supposedly tied to the US dollar.
They claim that every tether is backed up by real USD and you can liquidate your tether anytime.
The problem is...you can't.
The "exchange" (just their website) won't allow for exchanges because their bank isn't accepting international wires or something.
On top of that, just think about it, if the price is always a dollar, why does it rise the ranks of coinmarketcap?
Because they are literally minting HUNDREDS of millions of tether.
Are you going to tell me that they just suddenly got their hand on hundreds of millions of dollars last January?
No, they are trying to make money out of thing air.
The most logical thing is, they don't have real usd to back everything up.
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leland orser
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The Experience Layer of the Decentralized Internet
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February 15, 2018, 01:37:08 AM |
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Tether is a company.
What you say and the dollar is USDT tokens, although most exchanges are using USDT, but I still worry about the USDT, because now Tether company still not to disclose their bank accounts, no one knows whether they control the market price.
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Endikadija
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February 15, 2018, 02:29:21 AM |
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Whoooaaaaahhhhhh, stay away from usdt.
As people have said, it is supposedly tied to the US dollar.
They claim that every tether is backed up by real USD and you can liquidate your tether anytime.
The problem is...you can't.
The "exchange" (just their website) won't allow for exchanges because their bank isn't accepting international wires or something.
On top of that, just think about it, if the price is always a dollar, why does it rise the ranks of coinmarketcap?
Because they are literally minting HUNDREDS of millions of tether.
Are you going to tell me that they just suddenly got their hand on hundreds of millions of dollars last January?
No, they are trying to make money out of thing air.
The most logical thing is, they don't have real usd to back everything up.
About the reserved of tether company to backed USDT to get stable value just like the dollar and it's still in the audit process. But much bad news said about that. There is no differences between tether company and bankers. They can print it anytime as they want. many people are realizing about the irrational growth of tether from 350 million tether to more than 2 billion worth of tether. |
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btcluisdiki
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February 15, 2018, 03:12:38 AM |
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Based on my research,Tether is a cryptocurrency token claimed by its creators to be supported by one dollar for each token released. This claim is widely suspected and Tether Limited has not issued a promised audit staking the claim. Tether caters tokenized conventional government backed currencies on the Bitcoin and Ethereum blockchain. The thought is that it's much more stationary than most digital coins that have vast price swings.
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shaadsufi
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March 25, 2018, 11:19:30 PM |
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Tether is a cryptocurrency that mirrors the value of the United States dollars it is dependent upon the valuation of the dollar hence it is linked to the US government to create a stable cryptocurrency environment it can be linked to ripple which is collaborating with many financial institutions unlike many of the capitalist detailed is the middle of all the cryptocurrency coin regulated by the United States government.
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sammyp
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March 25, 2018, 11:52:55 PM |
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https://en.wikipedia.org/wiki/Tether_(cryptocurrency) Essentially, the group behind Tether promises to hold one US dollar for every coin they mint. Thus it's worth a dollar because you can always buy them straight from Tether. It's a much needed mechanism on exchanges so we can have a stable currency on one side of the trading exchange. This also replaces real USD for exchanges so they can bypass KYC (Know Your Customer) regulations and other laws required for institutions that trade with US dollars. I have also been wondering why tether is so stable even when all other coins get messed up. I now now get the reason behind it. Thanks for the information. |
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