USDT

>>3441118
Yeah you can do this, it works well. The problem is theres been a lot of talk about how Tether is creating tokens with nothing to back them. This goes against their claim that every single Tether is backed by a US Dollar. If this goes bad or is exposed it could take half the market cap with it.

I wouldnt risk storing your portfolio as BTC for any longer than a few hours. All it takes is a spark to bring the whole thing crashing down.

>>3441118
>Demand for tether increases
>Exchanges are caught printing more tethers
>Whales and friends dump all their tether when btc recovers crashing tether to it's true value of $0

The catch is you might miss the recovery. It's better to put in a coin that trades against BTC but isn't affected by BTC dips.

>>3441118
*half the entire crypto market cap

*storing as tether

>>3441118

People buy Tether because Tether claims it's backed 1:1 by USD. The problem is that their own Terms of Service even says "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."

The Terms of Service also says "In the event of any inconsistency between these Terms of Service and any other policies, FAQs, whitepapers, or pages on the Site, these Terms of Service shall prevail."

Which basically means they can lie about whatever they want, claim it is an "inconsistency" and then say that you should've read the Terms of Service.

But, feel free to do your own research, here https://tether.to/legal/
The first quote is under section 3. "Purchase and Redemption of Tethers" and the second quote is in the third paragraph from the top of the page.

>>3441143
For tether to represent the value of Dollar, isnt it necessary to create tether in the same amount, that the FED prints Money?

>>3441118
>Whats the catch with this?

you're relying on some arcane token and company as a bank. who knows what will happen if btc really crashes.

>>3441170
No different than trading against other currencies.

>>3441147
Like what? Everything goes to hell when BTC crashes.
I don't understand, miss what recovery? Could you elaborate?
As for tethers backing, I don't really see the problem. Seems to be working fine for some time now, and its high on the list.
If its backed by USD or not, if holds the constant value of 1, thats just fine.

>>3441179
People who buy USDT are under the illusion that no matter what happens, Tether will always allow them to redeem their USDT for USD at a 1:1 rate, which isn't the case at all. I'm not saying that it's any different from trading any currency, Tether as a company are the ones who are benefiting from the community's perception that it IS any different

>>3441118
>this doesn't crash with BTC
the btc price of tether is on a downward spiral to 0

O wait I see now, I can't trade BTC for USDT directly, only BTC / USD

>>3441221
People who buy tether only buy tether so they can jump right back into bitcoin asap.
I dont think anyone who buys tether intends on swapping it for usd.

>>3441174

Yes, as long as it's backed 1:1 by a US Dollar, which doesnt appear to be the case.

>>3441228
Not sure if bait, but thats only due to BTC rising in price against USD

>>3441213
You can convert your coins to Ripple. Because of it's high supply, it's fairly safe from BTC crashes.

as long as theres no bank run a tether coin is here to stay

O wait, on Bittrex you can change BTC for USDT! Score!