4 ms·
Looking at SOL/USDT on Binance.com [1] as an example, it looks like there are typically orders for a few thousand USDT within a 1 cent spread (0.006% of the pri
by dlubarov 5y ago
Looking at SOL/USDT on Binance.com [1] as an example, it looks like there are typically orders for a few thousand USDT within a 1 cent spread (0.006% of the price), or orders for a few hundred thousand USDT within a 25 cent spread (0.15% of the price).
Most of us aren't trading millions at a time, and these spreads seem fairly insignificant compared to fees extracted by banks, credit card networks, etc, so is this really an issue?
[1] https://www.binance.com/en/trade/SOL_USDT?layout=pro https://www.binance.com/en/trade/SOL_USDT?layout=pro
- davidgerard 5y agothat's why I said actual money, not USDT - which is absolutely not actual money.
- dlubarov 5y agoIf you don't want USDT, you can trade SOL/BUSD instead. The order book may be a little thinner, but not a big deal if you're not moving millions. While you might claim that BUSD isn't real money, you can just immediately withdraw it as fiat in your bank account, as long as Binance remains solvent. Or if you're still uncomfortable with BUSD for whatever reason, just trade e.g. SOL/USD on Coinbase.
- davidgerard 5y agoI am talking about USD, not about stablecoins, and particularly not about stablecoins on tether exchanges. You are not refuting in any way whatsoever my point about the serious lack of actual-money liquidity for your favourite coin. What is the depth of SOL against USD? Not against USDT, not against BUSD, but against actual-money dollars?
- dlubarov 5y agoSee for yourself: https://pro.coinbase.com/trade/SOL-USD https://pro.coinbase.com/trade/SOL-USD Again, there's hundreds of thousands in orders within a $0.25 spread - plenty of liquidity if you're not moving millions.
- swarnie 5y agoWe really need to stop using the term stablecoins ScamCoin maybe?