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There doesn't need to be an official BTC-USD tether, BTCUSD on bitfinex is exactly that in practice and in fact.
by tcoppi 9y ago
There 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