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The very first paragraph opens comparing this to "defying gravity". Your assumption were true it would make it very easy for others to win at all times. Think a
by gcbw2 8y ago
The very first paragraph opens comparing this to "defying gravity". Your assumption were true it would make it very easy for others to win at all times. Think about it for a second: there is someone buying and selling, consistently at known price points.
- 781 8y ago> Think about it for a second: there is someone buying and selling, consistently at known price points. This happens all the time in the stock market. Look at the SPY stock which tracks the S&P 500 index. At everypoint in time, anyone can compute exactly what value this stock should have. Any deviation from this consistent and known price point is immediately traded away by arbitrators.
- ForHackernews 8y agoThe difference is index funds actually hold the underlying basket of assets for the index they track. Does Tether actually hold one real United States Dollar for every USDT they issue? If so, they sure haven't convincingly demonstrated it by continually lying about being regularly audited (they have never published a real audit) and refusing to allow anyone to redeem their USDT with Tether to get back a USD.