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"If tether went belly up what would happen is everyone would sell their tether for BTC" What do you mean by "tether went belly up"? Even when it's "belly up" i
by postalrat 5y ago
"If tether went belly up what would happen is everyone would sell their tether for BTC"
What do you mean by "tether went belly up"? Even when it's "belly up" it still has value to trade for BTC?
- quickthrowman 5y agoWho would be buying the tether? Every trade on an exchange has two sides, who is going to buy USDT that isn’t worth anything? For example, the $449 strike SPY call expiring in 27 minutes has a bid of 0.00 and an ask of 0.02, meaning nobody will buy if you try to sell the call, but a market maker will sell you one for 0.02. If tether was worthless, the same situation would happen, people would be willing to buy for 0.00 and sell for a bit more than 0.00