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How can i short Tether?
by freemint 4y ago
How can i short Tether?
- awestroke 4y agoSell your tether, sell your other crypto, move out into the forest, build a log cabin, hunt wild game
- ProjectArcturis 4y agoHave several million to invest and ask an investment bank to write you a tether swap. It won't be cheap.
- lawn 4y agoI think you can do it on Kraken.
- djbusby 4y agoExit any position and then ignore it.
- almostkorean 4y agonot a defi expert, but I think the most common way to do this is to use Aave: 1. borrow Tether 2. swap it for USDC (or stablecoin of choice) 3. wait for Tether to crash 4. pay off your Tether loan at a fraction of its original value risk is that your tether loan will be accruing interest (currently 1.4%) so if it doesn't crash or takes too long to crash you could be liquidated.
- mook 4y agoThere's also the risk that USDC (or alternate) will lower in value due to Tether crashing, even if they were merely also crypto. It may be necessary to convert to non-crypto assets instead. Of course, then there's the risk that non-crypto assets will be affected by the same…
- hmate9 4y agoOn FTX you can short the USDT-PERP future. You pay about 4% a year in funding fees while the position is open.
- mccorrinall 4y agoThat’s more than an actual spot margin loan.
- colinmhayes 4y agoBe careful with this, tether is semi-regularly manipulated to briefly go way above $1 in order to squeeze shorts.
- freemint 4y agoSo many small positions. Got it.
- cuteboy19 4y agoThe places you can do so have a vested interest in keeping tether afloat. Do not play in a rigged casino
- anm89 4y agoIf you need to ask this question you should not be doing this. It's been plugging away without issues for years. What makes you think you can suddenly outtime the market on its collapse?
- freemint 4y agoAttention by regulators.
- anm89 4y agoYou haven't gained any competitive advantage in timing though unless you have some unique insight. You just read a press release that is available to every other market participant, some of whos full time job is to do things like analyze balance sheet risk. Anyway good luck, just beware that you aren't making some kind of smart money play.
- wmf 4y agoTether has lost one or more cases already.
- Marazan 4y agoDo not short Tether. Doing so is betting against The House. Not just any house, The House. The House in which all other houses are built. You _cannot_ win shorting Tether.
- freemint 4y agoWell Tether can only have two stable states $1 or $0. A Tether is never going to be worth $2 so at worst i am paying interest on the short.
- ceejayoz 4y ago> Well Tether can only have two stable states $1 or $0. Instability is often what kills short sellers.
- freemint 4y agoOn average the sea is flat.
- Marazan 4y agoIf Tether goes to zero your counter-party risk goes to infinity. In the meantime it has all the hallmarks of a scam manipulated asset. Shorting it will get you liquidated at the whim of the manipulators.
- cowtools 4y agoNot my house. I use kraken so I think I will remain less affected than users of other, less credible, exchanges. Cryptocurrency has been working just fine before tether, and it's going to work just fine without it. We've seen ups and downs. So I don't think it's that crazy when the house has failed many times in the history of cryptocurrency.
- Marazan 4y agoTether is The House. It doesn't matter what exchange you trade on, the price of Bitcoin (and by extension all crypto) is settled in Tether.
- evdubs 4y agoSell short USDTUSD on Kraken https://www.kraken.com/prices/tether?quote=usd https://www.kraken.com/prices/tether?quote=usd