crasl

4 ms·

1. 1.▲
   by crasl 6y ago

   That's what I believe too, but once thing I don't understand is you would think by doing so they would depress the price on USD exchanges, and eventually cause the price to decouple between USD and USDT, but that doesn't seem
2. 2.▲
   by crasl 6y ago

   There exist a pretty huge number of OTC desks in SE Asia (mostly in China) that deals with USDT, they provide significant liquidity and could feasibly support cashing out of the arbitrage bots. Also, because the order book is pretty thin on
3. 3.▲
   by crasl 6y ago

   Add Wirecard to the pile too!
4. 4.▲
   by crasl 6y ago

   >But how? Let's say I have one BTC. You offer me 15k USD to buy it, I say no. You say, ok, what about 18k USDT (that you just printed)? I reconsider and say, yeah, ok. So you inflated the price ok, but then what? It doesn't rea
5. 5.▲
   by crasl 6y ago

   I think the accurate answer at this point is we don't know for sure. It depends on how plausible you think it is that Tether has received ~$14b inflow in the past 6 months.
6. 6.▲
   by crasl 6y ago

   > But to buy bitcoin for tether, you first need someone to sell bitcoin for tether. And this guy then has tether. What is he going to do with the tether? He may not have an off-ramp (which means he can only sell the Tether to someone els
7. 7.▲
   by crasl 6y ago

   Exactly. With USDT, your aim is to buy crypto low and sell them high and become bigly rich, THEN you cash out (which is the end game). It's just greed. Notice that the general confidence in the crypto ecosystem (HODL culture), and in T