4 ms·

Unless it goes below 0.92 USD (all time low of USDT, in 2017-2018, which it recovered from), I'm not sure it's as big deal as you make it sound like.

ddorian43 4y ago
It will go there. The ponzi will break sooner or later. The nice thing is, that the more it continues, the bigger the fall will be.
- herendin 4y ago
  >The nice thing is, that the more it continues, the bigger the fall will be. Why is that "nice"?
  - ddorian43 4y ago
    It's nicer than the alternative (to explode even later)
    - herendin 4y ago
      >The nice thing is, that the more it continues, the bigger the fall will be. >It's nicer than the alternative (to explode even later) These two outcomes are mutually exclusive. You're speaking nonsense.
      - ddorian43 4y ago
        Both outcomes are nicer than the alternative (all crypto-bros become billionaire and everyone else staying poor and being enslaved)
kasey_junk 4y ago
I would argue that means it’s not pegged (which is fine!). But people seem to think there is a peg on usdt and there isn’t, at least not as the term is used in traditional finance.
- Semaphor 4y ago
  Going in with full naivety, assuming the company actually has enough USD to redeem every single USDT in existence, but it’s a slow, manual process only offered to big holders. Wouldn’t the peg still not always hold in a volatile situation, like the current one? All that’s required is enough people not trusting Tether Inc.
  - kasey_junk 4y ago
    “it’s a slow, manual process only offered to big holders” Is the most charitable reading you can give and I think it’s outside of peoples expectations of what a peg means. I’m actually quite fine with tether having whatever redemption rules they want, but that is not the traditional definition you’d see with something like a money market. I would never say usdt is pegged to the dollar.
    - Semaphor 4y ago
      So instead of a peg [0], it’s kinda like a crawling peg [1], or an even better match, the linked exchange rate system in Hong Kong [2] [0]: https://en.wikipedia.org/wiki/Fixed_exchange_rate_system https://en.wikipedia.org/wiki/Fixed_exchange_rate_system [1]: https://en.wikipedia.org/wiki/Crawling_peg https://en.wikipedia.org/wiki/Crawling_peg [2]: https://en.wikipedia.org/wiki/Linked_exchange_rate_system_in_Hong_Kong https://en.wikipedia.org/wiki/Linked_exchange_rate_system_in...

ddorian43 4y ago

It will go there. The ponzi will break sooner or later. The nice thing is, that the more it continues, the bigger the fall will be.

herendin 4y ago
>The nice thing is, that the more it continues, the bigger the fall will be. Why is that "nice"?
- ddorian43 4y ago
  It's nicer than the alternative (to explode even later)
  - herendin 4y ago
    >The nice thing is, that the more it continues, the bigger the fall will be. >It's nicer than the alternative (to explode even later) These two outcomes are mutually exclusive. You're speaking nonsense.
    - ddorian43 4y ago
      Both outcomes are nicer than the alternative (all crypto-bros become billionaire and everyone else staying poor and being enslaved)

kasey_junk 4y ago

I would argue that means it’s not pegged (which is fine!). But people seem to think there is a peg on usdt and there isn’t, at least not as the term is used in traditional finance.

Semaphor 4y ago
Going in with full naivety, assuming the company actually has enough USD to redeem every single USDT in existence, but it’s a slow, manual process only offered to big holders. Wouldn’t the peg still not always hold in a volatile situation, like the current one? All that’s required is enough people not trusting Tether Inc.
- kasey_junk 4y ago
  “it’s a slow, manual process only offered to big holders” Is the most charitable reading you can give and I think it’s outside of peoples expectations of what a peg means. I’m actually quite fine with tether having whatever redemption rules they want, but that is not the traditional definition you’d see with something like a money market. I would never say usdt is pegged to the dollar.
  - Semaphor 4y ago
    So instead of a peg [0], it’s kinda like a crawling peg [1], or an even better match, the linked exchange rate system in Hong Kong [2] [0]: https://en.wikipedia.org/wiki/Fixed_exchange_rate_system https://en.wikipedia.org/wiki/Fixed_exchange_rate_system [1]: https://en.wikipedia.org/wiki/Crawling_peg https://en.wikipedia.org/wiki/Crawling_peg [2]: https://en.wikipedia.org/wiki/Linked_exchange_rate_system_in_Hong_Kong https://en.wikipedia.org/wiki/Linked_exchange_rate_system_in...