Tether (USDT) - page 3. | Bitcointalksearch.org

lutcor

jr. member

Activity: 448

Merit: 1

Quote from: GrandBcn on January 03, 2018, 09:43:29 AM

Quote from: adam1230 on January 03, 2018, 06:19:59 AM

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

GrandBcn

full member

Activity: 275

Merit: 101

Quote from: adam1230 on January 03, 2018, 06:19:59 AM

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.

penig

member

Activity: 266

Merit: 13

I gave that hornet nest a good kick eh? Grin

renes

sr. member

Activity: 532

Merit: 250

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.

adam1230

legendary

Activity: 1218

Merit: 1001

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.

Red-Apple

hero member

Activity: 1470

Merit: 655

Quote from: penig on January 03, 2018, 05:26:51 AM

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.

dij778

jr. member

Activity: 42

Merit: 2

Is USDT good for buying altcoins on exchanges like Bittrex?

Acguy

sr. member

Activity: 308

Merit: 250

It is suppose to be one of one with the USD but what you are seeing is just a disparity between different exchanges.

Hellobx

member

Activity: 224

Merit: 10

The Experience Layer of the Decentralized Internet

Although the USDT and USD are 1:1 convertibility, in my country, the purchase of USDT requires a premium of about 10 percent.

oscarrsm

full member

Activity: 322

Merit: 101

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.

svojoe

legendary

Activity: 968

Merit: 1000

einc.io

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.

KingScorpio

sr. member

Activity: 1470

Merit: 325

Quote from: lutcor on January 03, 2018, 05:43:31 AM

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

lutcor

jr. member

Activity: 448

Merit: 1

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.

realsmans

member

Activity: 196

Merit: 10

Transforming the Global Shipping Industry

Quote from: penig on January 03, 2018, 05:26:51 AM

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.

KingScorpio

sr. member

Activity: 1470

Merit: 325

Quote from: penig on January 03, 2018, 05:26:51 AM

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

penig

member

Activity: 266

Merit: 13

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?

Topic: Tether (USDT) - page 3. (Read 8596 times)