USDT is used quite a bit by exchanges actually. Poloniex, for instance, uses it for their USD calculation.
It's really great like FIAT usd, eur. I can withdraw to my bank in euro.
Topic: What is usdt?? - page 4. (Read 68932 times)
It's really great like FIAT usd, eur. I can withdraw to my bank in euro.
USDT is used quite a bit by exchanges actually. Poloniex, for instance, uses it for their USD calculation.
I actually just put a great overview of Tether (USDT) on my blog if anyon wants a good overview.
"The theory behind USDT is simple. A company called Tether created their own token on top of Bitcoin using Omni Layer. Then Tether holds 1 US dollar in a reserve fund for each USDT token issued. So when you open up a Tether account and deposit $100 into it, Tether holds that $100 in reserve and then issues you 100 USDT tokens which you can then take into the exchanges and trade with. Whenever you decide that you want convert back to US dollars, you send the USDT tokens you’ve accumulated back to your Tether account and tell them to wire the equivalent money to your bank account."
Read the whole thing at: http://www.jsfour.com/untethered
This sounds interesting but who would mind on having a 1:1 ratio? I didnt even heard about this coin and if i wasnt able to read it now then i wouldnt know still that this coin do exist. Ill read the link later and it seems this coin do really have some potential.I was little bit behind in the news relating to new coins existed or even some didnt even heard or did just missed because of lacking interest on knowing ann threads, "The theory behind USDT is simple. A company called Tether created their own token on top of Bitcoin using Omni Layer. Then Tether holds 1 US dollar in a reserve fund for each USDT token issued. So when you open up a Tether account and deposit $100 into it, Tether holds that $100 in reserve and then issues you 100 USDT tokens which you can then take into the exchanges and trade with. Whenever you decide that you want convert back to US dollars, you send the USDT tokens you’ve accumulated back to your Tether account and tell them to wire the equivalent money to your bank account."
Read the whole thing at: http://www.jsfour.com/untethered
I actually just put a great overview of Tether (USDT) on my blog if anyon wants a good overview.
"The theory behind USDT is simple. A company called Tether created their own token on top of Bitcoin using Omni Layer. Then Tether holds 1 US dollar in a reserve fund for each USDT token issued. So when you open up a Tether account and deposit $100 into it, Tether holds that $100 in reserve and then issues you 100 USDT tokens which you can then take into the exchanges and trade with. Whenever you decide that you want convert back to US dollars, you send the USDT tokens you’ve accumulated back to your Tether account and tell them to wire the equivalent money to your bank account."
Read the whole thing at: http://www.jsfour.com/untethered
"The theory behind USDT is simple. A company called Tether created their own token on top of Bitcoin using Omni Layer. Then Tether holds 1 US dollar in a reserve fund for each USDT token issued. So when you open up a Tether account and deposit $100 into it, Tether holds that $100 in reserve and then issues you 100 USDT tokens which you can then take into the exchanges and trade with. Whenever you decide that you want convert back to US dollars, you send the USDT tokens you’ve accumulated back to your Tether account and tell them to wire the equivalent money to your bank account."
Read the whole thing at: http://www.jsfour.com/untethered
It's interesting, that the rate is now under 1$ although it should be backed by Tether company.
http://coinmarketcap.com/assets/tether/
That means there is either some heavy speculation or there are signs that Tether cannot guarantee that they buy back all USDT for 1 USD each.
http://coinmarketcap.com/assets/tether/
That means there is either some heavy speculation or there are signs that Tether cannot guarantee that they buy back all USDT for 1 USD each.
I only just noticed USDT too.
I presume it exists to get around the money laundering laws that apply to fiat, and the tricky rules that banks like to apply to fiat <=>crypto exchanges. By using USDT you exchange remains at arms length from the fiat rules.
I presume it exists to get around the money laundering laws that apply to fiat, and the tricky rules that banks like to apply to fiat <=>crypto exchanges. By using USDT you exchange remains at arms length from the fiat rules.
USDT dollar tether, price equal same dollar, but develop tether use bitcoin tekhnologi
low use tether only poloniex and bitfinex use tether
low use tether only poloniex and bitfinex use tether
I wonder how do they do it? Tether also offer eurot and JPNt. If I understand it correctly, they sell a coin at bitcoin to dollars rate. It only fluctuates when the btc/usd price fluctuates. So if you like to get USDt, you will be paying for an overpriced altcoin. I'm not sure if this is tied to USD... maybe this is just a made-up coin to represent the equivalent value of the fiat outside the banking system.
they should create an announcement thread here so we dont have to go to their website or google the info about of USDt and benefits owning it!?!
that's why the price stay at 1:1.
also interested
Tether, the first blockchain-enabled platform to allow fiat currency to be used like bitcoin, has officially been released on the instant crypto exchange. (if you know some exchange website) This integration will now make it painlessly easy to dodge bitcoin's volatility by utilizing the crypto coin version of USD. This is a new alt coin this is good for sure.
why do poloniex.com use USDT instead of btc on trading some alt coin?
are their any reason behind it im sorry im just starting trading in poloniex.
are their any reason behind it im sorry im just starting trading in poloniex.
It doesn't make sense why they wouldn't release a wallet imo. Also there hasn't been any activity on their social media accounts in a year. If you believe what they say about backing every tether with a dollar then it's probably safe. But the lack of activity means it probably hasn't been profitable for them so they're just sitting on the idea.
I agree.. a lot of things about this don't instill confidence. The only reason I can see to trust usdt is its association with Polo and Bitfinex. Presumably these exchanges did some kind of due diligence. This being crypto though, this could all end in disaster.
It's not much different than holding USD at an exchange. You have to trust that tether will actually pay you. It's just a layer on top of bitcoin as far as I can tell. Apparently there is something called a tether enabled wallet, but I haven't found any one can use. So you have to keep it at an exchange or at the tether website.
It doesn't make sense why they wouldn't release a wallet imo. Also there hasn't been any activity on their social media accounts in a year. If you believe what they say about backing every tether with a dollar then it's probably safe. But the lack of activity means it probably hasn't been profitable for them so they're just sitting on the idea.
It doesn't make sense why they wouldn't release a wallet imo. Also there hasn't been any activity on their social media accounts in a year. If you believe what they say about backing every tether with a dollar then it's probably safe. But the lack of activity means it probably hasn't been profitable for them so they're just sitting on the idea.
USDT is fiat money is basic system with blockchain tehcnologi, you can find wallet USDT dollar tether with link tether.to
marketplace exchanger support USDT poloniex and bitfinex
marketplace exchanger support USDT poloniex and bitfinex
To the best of my understanding, tether has reserved x of each fiat they have a tether for. There is only enough tether in circulation to cover the reserve. Therefore, you can always redeem tether on their platform if you send it to their on platform wallet. Problem is, a USDt is usually a little more expensive in bitcoin than an actual USD. Also, transactions are kind of slow, the last time I used it. Master coin transaction, I think.
https://wallet.tether.to/transparency
hmmm...
"Tether is always fully transparent"
"Our reserve account is regularly audited"
Although information seems fairly limited and I don't see anything specific about these audits
Then again, market cap is about 6 million usd so seems reasonable that they could hold that much in reserve. But what is the business model?
This seems to be the blockchain explorer listing transactions:
http://omnichest.info/lookupsp.aspx?sp=31
hmmm...
"Tether is always fully transparent"
"Our reserve account is regularly audited"
Although information seems fairly limited and I don't see anything specific about these audits
Then again, market cap is about 6 million usd so seems reasonable that they could hold that much in reserve. But what is the business model?
This seems to be the blockchain explorer listing transactions:
http://omnichest.info/lookupsp.aspx?sp=31
USDT dollar tether, price equal same dollar, but develop tether use bitcoin tekhnologi
low use tether only poloniex and bitfinex use tether
low use tether only poloniex and bitfinex use tether
I wonder how do they do it? Tether also offer eurot and JPNt. If I understand it correctly, they sell a coin at bitcoin to dollars rate. It only fluctuates when the btc/usd price fluctuates. So if you like to get USDt, you will be paying for an overpriced altcoin. I'm not sure if this is tied to USD... maybe this is just a made-up coin to represent the equivalent value of the fiat outside the banking system.
they should create an announcement thread here so we dont have to go to their website or google the info about of USDt and benefits owning it!?!
You're right, they should provide more informations about it.
USDT dollar tether, price equal same dollar, but develop tether use bitcoin tekhnologi
low use tether only poloniex and bitfinex use tether
low use tether only poloniex and bitfinex use tether
I wonder how do they do it? Tether also offer eurot and JPNt. If I understand it correctly, they sell a coin at bitcoin to dollars rate. It only fluctuates when the btc/usd price fluctuates. So if you like to get USDt, you will be paying for an overpriced altcoin. I'm not sure if this is tied to USD... maybe this is just a made-up coin to represent the equivalent value of the fiat outside the banking system.
they should create an announcement thread here so we dont have to go to their website or google the info about of USDt and benefits owning it!?!
Can anybody enlight me
Thx
Thx
It is pegged to usd. I think places like Poloniex use it instead of usd to (hopefully) escape legal prosecution.
An observation with trading this asset:
Although the price is supposed to.be fixed to a USD, and its consequent value in bitcoin, it's usually traded on order books that don't provide liquidity at the assumed price. Expect to take a 5% haircut until this gets alot more popular. If you use this asset, be wary of purchasing large amounts; it will take you a few days to ease out if you don't like putting up sells.
Although the price is supposed to.be fixed to a USD, and its consequent value in bitcoin, it's usually traded on order books that don't provide liquidity at the assumed price. Expect to take a 5% haircut until this gets alot more popular. If you use this asset, be wary of purchasing large amounts; it will take you a few days to ease out if you don't like putting up sells.
USDT dollar tether, price equal same dollar, but develop tether use bitcoin tekhnologi
low use tether only poloniex and bitfinex use tether
Hmmm i only understand your first and second line. The rest is kinda messy for me. Anybody can explain this more better.low use tether only poloniex and bitfinex use tether
Blockchain equivalent of a US dollar, read this!
https://tether.to/faqs/
USDT dollar tether, price equal same dollar, but develop tether use bitcoin tekhnologi
low use tether only poloniex and bitfinex use tether
Hmmm i only understand your first and second line. The rest is kinda messy for me. Anybody can explain this more better. low use tether only poloniex and bitfinex use tether
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