USDT

>>2853370
>this August 1st debacle...

its already been resolved tardo

>>2853386

Its still splitting

>tfw I went 50% into USDT when BTC hit ~2200 and missed out on all these free gains
I may as well be a no-coiner at this point

>>2853386
I can't wait for all the demented wojak threads when you newfags get btfo

>>2853395

I did the same, might as well buy myself knee pads and try to make money sucking dick

>>2853370
shhhhh! Shut-up about this coin. I'm still accumulating

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>turned 50% of everything into usdtether at 2900

feels fucking comfy. buying back in around 2400

>>2853386

its still splitting buddy, tether is the place to be.

Get ready for a choppy ride!

>>2853370

Nice i just bought 100k

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>all these idiots still think August 1 is a bearish event because of Bitcoin Cash
kek, they're literally giving you free money, yet not only do you not take it, but you sell crypto when BTC's about to break ATH? You guys really know how to make me laugh.

why would you want to own tether instead of actual USD

please explain

>>2853518
If you even touch USD with crypto Uncle Sam is going to want a big fat piece of that.

how likely is it that Tether could drop in value somehow? i know the whole point is that it is supposed to remain at a fixed value, but i am always sketched out putting $10k+ into tether. maybe even a possible exploit occurring? sorry for noob question

>>2853556
It is backed by Proof of Reserve. Which means that every USD Tether is backed by $1 in the reserves of the USD Tether corporation.

>>2853534
>not letting it sit as USD on coinbase

>>2853589
>letting anything sit on coinbase

>>2853588
so it's kind of like the silver certificate that the dollar bill use to be? that's pretty cool

>>2853642
Yeah. It functions like an ordinary crypto coin, in fact, but because of arbitrage (when people withdraw it to their bank account), the price is close to the real USD price across all exchanges

There's no point in holding Tether if you're worried about BTC's future since there's no promise you'll actually be able to exchange Tether to USD. There's nothing safe about it at all, but it's useful if you want to ride predictable fluctuations in BTC out to buy back in in the short term.

>>2853654
thank you for your answers, very helpful

>>2853660
Are you sure the Tether corporation doesn't allow you to exchange Tether to USD? I find that unlikely.

>>2853471

Unless you consolidate profits at some point you'll eventually get fucked.

>>2853685
>There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money. There is no guarantee against losses when you buy, trade, sell, or redeem Tethers.
https://tether.to/legal/

>>2853685
Pretty much it does, because if people weren't doing it 24/7, its price wouldn't fluctuate at +/-1% the real dollar price

>>2853707
>yada-yada

>>2853707
Fair enough. Do you still think it is safe to hold through August 1st though?

>>2853712
Can you sell USDT directly for USD on their website? I don't have an account there. I'm just storing about 2k worth of tethers on Bittrex rn.

>>2853712
>yada-yada
It's not yada-yada if something happens. They are not legally bound to do shit. When you lose all your USDT, them come yada-yada-ying

>>2853720
>Can you sell USDT directly for USD on their website?
You need to verify your identity and shit, I heard it takes quite a while

>>2853741
Well, there's always Litecoin.

>>2853786
All altcoins are usually affected by bitcoin

>>2853720
Yeah because there's already nothing to worry about on August 1st. SegWit is confirmed and Bitcoin Cash is a dumb fork nobody will recognize. Past that, Tether will probably be fine so long Bitcoin remains in demand. There's no way they're actually holding a 1:1 reserve so it's fucked if things get bad enough to trigger a bank run. They'll pocket the cash and disappear.

>>2853791
>>2853794
So what would you guys recommend? Are you just gonna hold BTC through aug 1st?

>>2853408
This. I'm still accumulating USDT. Accumulating... all my life...

>>2853725
>I got no time for your legal mumbo jumbo completing absolving tether of having to pay out in USD.
Let the fucktard do his money. I can't wait to see that dumpster fire when it inevitably ignites.

>>2853965
Fucking retards man. I don't understand people who refuse to believe in certain things that they're not good at.

You're shit at legal stuff, you don't like it and wish it weren't there, it's still going to fuck you no matter what, so at least learn the basics retard.

>>2853804
i am, going to get that sweet free BTC from the BTC-BCC fork

>>2853990
should i buy btc before the fork so i can get bcc in case its somehow not dumped right away and holds a nice value?