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How would them issuing tether out of thin air inflate the price of bitcoin?
by simooooo 9y ago
How would them issuing tether out of thin air inflate the price of bitcoin?
- fmela 9y agoBy trading tether issued out of thin air for BTC.
- deleted 9y ago[deleted]
- RexetBlell 9y agoWhy would anyone want to exchange their Bitcoins that are worth over $10,000 each on Coinbase (and can be converted to real dollars) for some tokens that are backed by nothing?
- cantrip 9y agoTether are, ostensibly, backed by $1 in a bank somewhere. Having a dollar token is very useful, since you can move in and out of crypto trading positions into a stable store of value, good old USD. Converting to real money takes a long time so you can't react to the market, and is also taxable and often has other fees on top.
- michaelchisari 9y ago> backed by $1 in a bank somewhere. Are we sure about this?
- tehlike 9y agoConverting to another coin is also taxable. Similar to selling a stock.
- Zpalmtree 9y agoGood place to park your gains when the market's volatile.
- corysama 9y agoIt’s used to move large amounts of dollars between exchanges that don’t want to deal with the regulations involved in moving large amounts of dollars.
- runeks 9y agoIn my experience, no one has a satisfying explanation for this. Nor why this would affect the USD price of bitcoin.