If we get that big of a retracment I will definitely buy more BTC ETH and SOL
Crypto: Interesting numbers...
- Thread starter johnarb
- Start date
Tether is the most liquid stablecoin. I don't have much Tether now, but I felt comfortable holding Tether for a few months
1. Tether is trusted by Coinbase, you can easily cash out a million bucks worth of Tether
2. Outside of the US, Tether is very much active in usage, in the Middle East, you can buy a mansion using Tether
3. In places where the local currency has collapsed, i.e Turkey and Palestine, they are using Tether to store their wealth as well as bitcoin, but the latter is too volatile, so...
4. Tether is actually helping the US $ reserve currency status due to its wide usage worldwide even in places that are not dollarized
5. Tether has a huge demand for trading markets, defi and cefi, hence the high yield, 10% APY is not only normal but expected
I would use Tether more for local wallets due to its liquidity but for dealing with US crypto companies, GUSD or USDC may be a better vehicle
And the fact that people at helm of tether been caught lying multiple
Times, and that it is backed by only 3% cash does not bother you ????
Why would it bother me?
I can get a million $ in and out of Tether using Coinbase, a US-fully regulated exchange
Please read my post again, your philosophical argument does not make sense, to be honest
The day tether implode anyone who hold it with end up with empty bag. They even say it outright
You're saying something that is not possible
You told me you're very technical so understand this, there are billions of $ worth of Tether locked up in DeFi platforms, AMM LP's and blockchains and Dexes
The counterparties are literally computer smart contract codes that will honor the terms of the trades 24/7/365
This is unlike the ones you're used to in TradFi where they can halt GME or AMC or any stock that goes up/down a certain amount during business hours
Even if the issuer of Tether declares bankruptcy today, I will have no problems cashing out to btc or eth or other stablecoins like USDC, with perhaps a minor change in the peg depending on the liquidity of the platforms I choose
I will not end up with an empty bag. Educate yourself before making statements that are false
read tether small print. And good luck cashing out of it into anything if it implodes
There you go again. Did you not read my post? Did you understand TECHNICALLY what I posted
I did and it literally takes one click to prevent you from converting from tethers into anything else. Time will tell
"Time will tell"
Very nice cop out
You cannot be proven wrong, isn't that nice. Just like everyone here thinks bitcoin and cryptos will go to $0 in the future no matter how high bitcoin and cryptos go up in value