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When will the crash end? I've gone all in on tether. I'm

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When will the crash end? I've gone all in on tether.

I'm hoping to rebuy on aug 2nd. That should be the lowest low.
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when will the suffering stop
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>>2803873
Good idea OP. Would be better in straight fiat though. I'm thinking if there's a fork there could be some fuckery with tether pairings who knows
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>>2803873
Just because of that It will be a day or two before Aug 1. Just to fuck you up. Maybe even a week before, with strange volatility.
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>>2803873
>tether
holy shit you are literally retarded. What you have is a scam waiting to collapse. They will never buy back tether from you for a dollar. Because of this, in the end there will be people left holding the tether and never be able to change it to fiat. Unless they can find someone else willing to take the tether for fiat, someone willing to hold the bag.

The people behind tether have received $240 million dollars in the past year, and they have never bought back a single coin. They insist that they keep the cash "in reserves", which they mostly certainly don't, but even if they did it wouldn't matter:

Let's say they have your $1,000 "in reserves". And then they spend it on a $1,000 a night hotel. They spend the money. What has changed here? You are never going to get that money back, because now the hotel owner has it. The money is lost forever and you are left holding a worthless digital file. But in actuality, the fact that the devs spend the money or don't spend the money doesn't affect you at all. Nobody will ever get any of their money back in either scenarios, because they won't ever buy them back or supply any kind of hard floor. It's the same thing.
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>>2804724
nobody intends to cash-out their tether for fiat, you dummy. Tether is simply a safe place to store value that's unaffected by the current crash in the cryptomarket. When the market starts to recover, people will be trading their tether for BTC, ETH and other shit coins.
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>>2804724

All they are doing is printing counterfeit money, and they own bitfinex so they can "force" people to use it. Once smart-contract implemented USD tokens hit the exchanges, tether is going to crash and burn. To make ethereum USD token, you set up a contract where a speculator and a hedger (a buyer) place an amount of money in a contract.

Let's say the price of ether is $100, so the two parties put 1 ETH into a contract that will expire at some time, and at that time the Buyer will receive the market price at that time of $100 worth of ETH. This could be more or less than 1 ETH, but you always have a set amount in dollars. You can then have contracts that go into other contracts so they effectively never expire, you can build a token for this, and at any time exchange 1 token for $1 USD worth of ETH which you can them immediately sell for fiat.

>>2804757
If people have an alternative where they CAN cash out at any time, and there's no counterparty risk, people will drop tether like a rock.
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>>2804189
This.
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>>2803923
Except for my long term hodls (SC and ANS (which I picked up more of on the downturn), I'm all out with my money in USD on Coinbase. I'll buy back in to ETH if it gets below $100.
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>>2804783
Well where does the USD value of ETH come from
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>>2804817
From the demand of decentralized applications.
Thread posts: 11
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