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Topic: Buying USDT during crypto dips.your thoughts. - page 2. (Read 358 times)

legendary
Activity: 2590
Merit: 3015
Welt Am Draht
I just can't see the point in it and I don't understand the people who have faith in it. Even if it works fine, they should not trust it.

Alt only exchanges these days often demand verification too. If you have to verify anyway that means real dollars are available to you on places like Bitstamp and GDAX and they're only a  BTC or LTC transfer away from your alt exchange.

I would never leave any significant value in USDT. I think they have the money. I also think regulators will eventually nail them and there'll be no warning. I'd do it for a day or two. I wouldn't park and them and go away for months. There's a good chance there'll be nothing to come back to.
member
Activity: 252
Merit: 10
During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?
I believe the market is about to prepare storm so you convert your bitcoin to USDT to be able to preserve the capital. It can be seen that bitcoin and altcoin prices have risen sharply for two days in a row and are now facing signs of slowing down. According to my analysis, today's bitcoin price may be adjusted to $ 8400 before continuing to rise.
member
Activity: 266
Merit: 10
During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?
I believe that at this point you should sell your bitcoin and convert it to USDT, you can see that the bitcoin price has risen steadily over the past three days as the G20 summit has taken place and has shown the specific path and importance of crypto market Therefore, after several days of continuous price increases, I think bitcoin prices will adjust slightly before continuing to increase. You should sell to take profit and prepare to buy at a better price to trade.
full member
Activity: 616
Merit: 100
First Islamic Crypto Exchange
this is the right option to wait for a general decline, usually the USDT is not at all volatile, so it can serve as the currency in which you can wait for a drawdown
full member
Activity: 1750
Merit: 186
Does bittrex or binance have nubits, bitusd or trueusd?
legendary
Activity: 1400
Merit: 1009
During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

It is a good strategy to buy usdt when the market is down. But you should be extremely attentive, because there were a good deal of nasty news about usdt. Nevertheless, Goldman Sachs have bought Poloniex recently, so things can’t be too bad..!
USDT can't be relied upon, there are alternatives though that people can use as these stable coins(nubits,bitusd,trueusd) use collaterals to provide stability/$1 pegging. i encourage people use dollar pegged stable coins like trueusd,bitusd or nubits.
legendary
Activity: 3640
Merit: 1209
During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?

It is a good strategy to buy usdt when the market is down. But you should be extremely attentive, because there were a good deal of nasty news about usdt. Nevertheless, Goldman Sachs have bought Poloniex recently, so things can’t be too bad..!
hero member
Activity: 644
Merit: 500
Don't forget that Tether is still an unresolved issue. We don't know if they are really solvent, if their USDT is really backed by USD money at a 1:1 ratio or they are doing really fractional reserve banking at small scale which would be enough to create a scarefest and get further panic selling traction. For now, it seems to be working, but sooner or later I think USDT will bust and we will have another bear cycle, excellent to buy because ultimately who the hell cares if some company is doing that in some off shores bank. Bitcoin is beyond these scammy practices. 21 million limited coins no matter what guys, don't forget that.
Understanding the risk should also be taking place, yes it is usable for a while if we understand how the market will proceed, it can serve as a temporary
assets just to convert your holdings to much safer if we are dealing inside the exchange, but just like what you have said there's still some issue that is
needed to clarify before we entrust our investment, better to use it with a lots of understanding and more strategy than frequently using it and make
your entire investment at risk.
legendary
Activity: 1372
Merit: 1252
Don't forget that Tether is still an unresolved issue. We don't know if they are really solvent, if their USDT is really backed by USD money at a 1:1 ratio or they are doing really fractional reserve banking at small scale which would be enough to create a scarefest and get further panic selling traction. For now, it seems to be working, but sooner or later I think USDT will bust and we will have another bear cycle, excellent to buy because ultimately who the hell cares if some company is doing that in some off shores bank. Bitcoin is beyond these scammy practices. 21 million limited coins no matter what guys, don't forget that.
full member
Activity: 618
Merit: 100
BBOD The Best Derivatives Exchange
During times of crypto blood bath,I prefer to sell off my portfolios and buy USD Tether which usually fluctuates minimally.Any better options or thoughts on this?
USDt is the choice of all traders when the market starts fluctuating. As the market goes down, USDT goes up and affects many other Altcoin, and when the market goes up, USDT is chosen as a money storage solution to wait for the next opportunity.
jr. member
Activity: 38
Merit: 3
USDT is the best escape route from market dips and crashes but i would suggest to convert half of your cryptos in your local currencies as USDT is also surrounded  with some rumors of not backed by dollars as they claim.
newbie
Activity: 184
Merit: 0
Yes, USDT is a popular coin with high stability and safety. But in my opinion, that is the downside of USDT. Personally I do not like the price stability. USDT does not have the fluctuations and fluctuations necessary in the user base and in the psychology of investors. After the successful phase by the end of 2015. USDT value gradually decrease and become saturated. In other words, USDT has lost its essence and seems to be no longer adjusting to maintain the trend. I like the vibrations from DOGE.
full member
Activity: 196
Merit: 100
I detest the whole concept of USDT. I am sure if it did not exist, then the market would not experience the extreme drops it has over the past few months. People throw their belief in cryptocurrency out the window when they have an easy option. I honestly believe that if the option was not there, then the market would not have dropped to the extent it has. What to do, it does exist, but I hate it. Used it once a few months ago and have refused to use it since, win or lose. You're either in or out. I'm in.

I have the same feeling. USDT encourages more risky behavior from traders in  my opinion.
sr. member
Activity: 1050
Merit: 277
i dont trust to tether so much. like tether is an altcoin and there is no guarantee that tether will be 1 usd in the future. i would prefer to just cash out instead of exchanging tether. it is much more safe (if it iş avaible in your country) and whenever needed i can cash in again. banks are safer than tether.
full member
Activity: 1750
Merit: 186
Isn't this very profitable if you have btc and notice it keeps dropping down?  Example you got btc at 10k.  It goes up to 13k but then starts dipping to like 10500.  You feel it would dip even more.  You immediately sell it for usdt and get around 10500 so you profit 500.  Now it dips more and more to 8k.  Now you buy back over 1 btc etc.  Now say it goes to 10k again.  You immediately sell everything for usdt.  Let say you gained around 2500 total on this where your usdt balance is now 12500.  Btc is now around 10k or so.  So if you held the entire time, you would have made nothing, thought of course if you dont sell it nothing happens.  But the person that sells it and then buys back etc few time, here they made 2500 worth of profit as they could now immediately sell the 12500 usdt for btc and then immediately sell the 12500 worth of btc to coinbase/gemini or exchange and get real usd to bank account and now profit around 2500 minus fees right?


Because if a coin keeps dipping and going back up, there seem to be good amount of short term profit to be made.  Thus the more volatile it is, the better for the trader.  Thus isn't making sure you have enough usdt for dips like this very important?  Because if you keep everything in btc, and wait for dips, well that doesn't make sense because if you want to buy dips of altcoins, well your btc price will be dipping hard as well but not as bad as altcoins.  Thus with usdt, you want prices to dip hard when you are a trader right? 


Also are ppl really concerned about usdt?  Are there ppl/traders that have like mid 4 figures or 5 figures of usdt where its used to buy at dips?  And do those ppl feel concerned about usdt?  Because ppl say its not real usd but even if thats the case, wouldnt it be really hard for usdt to be zero or nothing?  Because surely tons of ppl have money in usdt especially traders right who trade altcoins?  Now if you trade btc, eth, litecoin and those other coins that could be paired with usd, well they dont have to worry about it.  But to trade altcoins, you need btc/usdt.  But you also dont want to hold btc if everything is dropping at the moment etc.  Thoughts?
full member
Activity: 406
Merit: 174
I've always felt weary putting money into USDT during a downtrend since a downtrend is the exact time that USDT is most likely to blow up: aka "a bank run" causing the house of cards that it is to fall. So personally, I don't recommend it until Bittrex takes its legitimacy and transparency far, far more seriously. I'm still waiting for a genuine gold-backed token to to be used as a store of value. Perhaps this year there will be a decent one.
sr. member
Activity: 1274
Merit: 261
★Bitvest.io★ Play Plinko or Invest!
we can not deny that tether has many benefits for traders. for example the fact that it has been worth $1 fixed for more than 90% of its lifetime is a good feature, also it can be transfered with a very small fee compared to fiat transfers. so it is a convenient way for traders to escape to fiat. and it can be used in many trading strategies.

but we should not end up thinking it is the same as fiat. because it is not and we should not forget the risks that this coin has. it is always easy to forget that tether is centralized and that poses a serious risk! not to mention that they are not even guaranteeing anything for their users.

   Benefits come form staying in the crypto-currencies. You do not need to sell for dollars
and fall under U.S. law, you buy tether and you are fine. Headline is misleading, you should
buy tether before the dip, that's how you are safe, buying in dip is missed investment. Wrong
thing to do is selling in the dips, you sell on tops, in dips you buy.
   If you read headline and do what creator of this thread suggest you to do you will lose money
with trading all the time. I am not a trader and I know that just from reading here about it. It is
perfectly logical if yoy give it a thought. But I presume it is easier to spam then to make some
effort and actually learn something. People wish easy money, but that usually leads in disaster.
hero member
Activity: 1456
Merit: 579
HODLing is an art, not just a word...
we can not deny that tether has many benefits for traders. for example the fact that it has been worth $1 fixed for more than 90% of its lifetime is a good feature, also it can be transfered with a very small fee compared to fiat transfers. so it is a convenient way for traders to escape to fiat. and it can be used in many trading strategies.

but we should not end up thinking it is the same as fiat. because it is not and we should not forget the risks that this coin has. it is always easy to forget that tether is centralized and that poses a serious risk! not to mention that they are not even guaranteeing anything for their users.
member
Activity: 158
Merit: 10
I think that's a good idea and iv'e been doing that alot because btc goes up and down and i want to get alot from that opportunity so i actually usually do that.
legendary
Activity: 1638
Merit: 1163
Where is my ring of blades...
it is a good strategy and a terrible one at the same time.
it is a good strategy because during drops you should get out and out to a safe place which is a more stable asset, which in this case can be a currency (fiat). but you are choosing a "fiat-like" altcoin not fiat itself. you are using USDT instead of USD, and that makes it a terrible strategy. tether is one of the shadiest altcoins out there, it is centralized and it can fail at any moment if the company behind it fails or decides to scam people out of billions of dollars.

in short I suggest to do anything else if you can, preferable going back directly to fiat (USD) if possible and use tether as the last option after you tried everything and couldn't find another way.
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