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> if you hold USDT and want to sell it for cheap, who is going to buy it for cheap-but-nonzero? The market price for one Tether is currently $0.9984 because tr
by panarky 8y ago
> if you hold USDT and want to sell it for cheap, who is going to buy it for cheap-but-nonzero?
The market price for one Tether is currently $0.9984 because traders are buying at that price.
So if anyone holds Tethers and believes there's greater than 1% probability that it goes to zero, the rational trade is to sell.
The fact that the price holds at parity tells me that Tether is not an obvious fraud.
- gzu 8y agoThere is complacency among the exchanges though. You really believe all that volume and price action is legitimate? Exchanges want tether to be worth what they say it’s worth, 1 USD. The alternative is a massive crash in tether and therefore bitcoin price therefore altcoins price therefore profit (trading fees) for exchanges. The scam can go on much longer than you/anyone can imagine.