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The title is clickbait. TLDR: Gotchya! This is a Stablecoin 101 article. Stablecoins on an exchange are pegged to a certain value via algorithms and you park y
by anonytrary 8y ago
The title is clickbait.
TLDR: Gotchya! This is a Stablecoin 101 article. Stablecoins on an exchange are pegged to a certain value via algorithms and you park your money there temporarily so you don't have to cash out in fiat in order to avoid volatility. Some stablecoins are known to have lost their peg, so be careful.
- ioniosdaionio 8y agoThey don't all work the same way. Some, like Tether, claim to be fully backed by USD. But it's similarly unstable and is spectacularly shady.
- h1d 8y agoThe smoke is already going up when, right now Tether has been at a value of $0.95 for more than a week and Bitfinex who is likely to be behind the Tether corp has its Bitcoin price above 5% above market average. Reminds me of MtGox when it its price was going off the rest of the market until collapsed.
- dang 8y agoOK, we'll switch to the subtitle. Just please don't Betteridge it.