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I'm not sure I follow.. There is no BTC-USD tether? USDT is tethered to USD.
by alexpetralia 9y ago
I'm not sure I follow.. There is no BTC-USD tether?
USDT is tethered to USD.
- busterc 9y agoFor better context, here's the related article he was commenting on: https://news.ycombinator.com/item?id=15852750 https://news.ycombinator.com/item?id=15852750
- tcoppi 9y agoThere doesn't need to be an official BTC-USD tether, BTCUSD on bitfinex is exactly that in practice and in fact.
- dwaltrip 9y agoBTCUSD floats freely, based off the latest trade. It's not pegged.
- alexpetralia 9y agoThat's not a tether though, that's an exchange rate. A tether is like a fixed (pegged) exchange rate[1], where there is an arbitrage opportunity. But that's not BTC-USD. [1] https://en.wikipedia.org/wiki/Fixed_exchange-rate_system https://en.wikipedia.org/wiki/Fixed_exchange-rate_system