my only comment would be how do you have such a strong opinion on some thing that you obviously have zero knowledge about? Like one day ago you thought people speculated on tether something that’s supposed to literally stay at one dollar. Then you just googled stable coin for the first time in your life And made the observation for the millionth time that some stable coins are not stable. Maybe just try to learn a little bit before you make up your mind
Tether is expecting 700 MM profit in Q1
- Thread starter Pekelo
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my only comment would be how do you have such a strong opinion on some thing that you obviously have zero knowledge about? Like one day ago you thought people speculated on tether something that’s supposed to literally stay at one dollar. Then you just googled stable coin for the first time in your life And made the observation for the millionth time that some stable coins are not stable. Maybe just try to learn a little bit before you make up your mind
they are not stable. Have you seen USDC debacle few weeks ago when SVB went down under?
What I literally just said
You still have not explained how tether is useful when most exchanges let you directly convert one crypto to another. Why is tether necessary in between? If you say that it allows conversions at lowest fees then yoh directly contradict yourself and all other shills that claimed for years how cryptos make fund transfers and conversions cheaper than fiat currency transfers.
And you overestimate my interest in cryptos by a wide margin. I have so little interest I don't even google or search for any information whatsoever. How you guys contradict yourselves time and again tells me everything I need to know...
And you overestimate my interest in cryptos by a wide margin. I have so little interest I don't even google or search for any information whatsoever. How you guys contradict yourselves time and again tells me everything I need to know...
You said literally NOTHING of this kind. You said the exact opposite. You accused me and claimed tether is a "stable coin". Now you state you "literally just said" that it is anything but stable. The one thing that is not stable here for sure is your MIND.
I don’t know why I take this bait but fine
stable coins are used to represent fiat currencies typically the US dollar in crypto exchanges. So for example if you were going to buy some Ethereum you would likely buy it using a stable coin such as tether or USDC instead of straight up US dollars as some crypto exchanges have a hard time dealing with USD (lack of banking relationships, etc) That is all they are, stable coins are meant to represent one unit of fiat currency.
The stable coins are settled on the Blockchain so the advantage would be the ability to move at all hours of the day for basically free and not have to wait for traditional banking rails that can take a long time and are only open Monday through Friday.
The name of them are stable coins that is the name. You pointed out some thing that is extremely obvious that everyone knows and that is sometimes so called stable coins are not stable such as USDC two weekends ago. Again everybody knows this. I stated this and then Duke stated the same exact thing so I said I already said that. They are just called stable coins that doesn’t mean they are always stable. “Stablecoin” is like my personal name of them lol.
You made my bigger point tho and that is you obviously don’t care about crypto and obviously know nothing about it and that is fine I just find it strange that if you don’t care at all and you know nothing about it you have such strongly held opinions. I don’t know a lot about a lot of thing but I don’t have super strong opinions about my complete ignorance
stable coins are used to represent fiat currencies typically the US dollar in crypto exchanges. So for example if you were going to buy some Ethereum you would likely buy it using a stable coin such as tether or USDC instead of straight up US dollars as some crypto exchanges have a hard time dealing with USD (lack of banking relationships, etc) That is all they are, stable coins are meant to represent one unit of fiat currency.
The stable coins are settled on the Blockchain so the advantage would be the ability to move at all hours of the day for basically free and not have to wait for traditional banking rails that can take a long time and are only open Monday through Friday.
The name of them are stable coins that is the name. You pointed out some thing that is extremely obvious that everyone knows and that is sometimes so called stable coins are not stable such as USDC two weekends ago. Again everybody knows this. I stated this and then Duke stated the same exact thing so I said I already said that. They are just called stable coins that doesn’t mean they are always stable. “Stablecoin” is like my personal name of them lol.
You made my bigger point tho and that is you obviously don’t care about crypto and obviously know nothing about it and that is fine I just find it strange that if you don’t care at all and you know nothing about it you have such strongly held opinions. I don’t know a lot about a lot of thing but I don’t have super strong opinions about my complete ignorance
I thought you tried so hard to convince us all that all that is needed was to get fiat into a crypto wallet just once. Surely in most economies there is at least one venue that allows funding in fiat. After that you can link your wallet to any exchange of choice and trade happily ever after.
You have still not provided one single coherent argument why one should hold tether that is backed by NOTHING (at least not proven to be backed) but allows the issuers to reap big, fat margins free of charge without any skin in the game, while all holders are basically fully exposed to the eventual run on this crypyo. Let's pray those holdings were not all used to buy Ferraris and to set up branch offices in the Bahamas.
You keep on repeating that tether should be used in cross crypto trades, I wonder why, given that most exchanges quote and trade cross crypto pairs.
With USD I still have something to show for after withdrawing from a brokers account. With tether I run the risk of it becoming completely worthless at any given point in time should the slightest impropriety by the backers be discovered and published. Whom do I trust more, guys like BF and other shills who come and go as it pleases them or the US government to fulfill its obligations and the Fed as lender of last resort. No-brainer.
You have still not provided one single coherent argument why one should hold tether that is backed by NOTHING (at least not proven to be backed) but allows the issuers to reap big, fat margins free of charge without any skin in the game, while all holders are basically fully exposed to the eventual run on this crypyo. Let's pray those holdings were not all used to buy Ferraris and to set up branch offices in the Bahamas.
You keep on repeating that tether should be used in cross crypto trades, I wonder why, given that most exchanges quote and trade cross crypto pairs.
With USD I still have something to show for after withdrawing from a brokers account. With tether I run the risk of it becoming completely worthless at any given point in time should the slightest impropriety by the backers be discovered and published. Whom do I trust more, guys like BF and other shills who come and go as it pleases them or the US government to fulfill its obligations and the Fed as lender of last resort. No-brainer.
Not sure whom you are asking, but since all cryptos move together, in a downturn going to fiat or a stable coin is the solution. Certain exchanges don't let you use fiat, thus Tether.
I am not promoting tether. I have never owned tether and never will. I live in the US and have no need for tether.
im just trying (obviously unsuccessfully) to explain what a stablecoin is and how/why it is used in crypto world. I’m also just confused how you can say this is all BS when you don’t even know what a stable coin is.
Being skeptical of crypto honestly is totally fine and I totally get it I just have a problem when people know nothing, which is very obvious when you said you wanted to speculate on tether lol, and have such strong opinions based on nothing
The funny part, they do not even hide it and state it. Tether could stop redemptions at any given time for any reason.