Why do people buy Tether again?

it's literally tethered to the US dollar on the fiat market, so it's a great way to measure your value of BTC/ETH/LTC in Normie dollars. Best way to accumulate wealth in BTC, then use your BTC to buy altcoins and back again.

Or, simple terms: BTC value measured against Tether (USD), altcoins value measured against BTC.

this

it's also a huge scam

This.

For those who are not: tether is pegged to dollar
1 tether = 1 USD

That's what you hold when stuff crash

Ok I get it. Ill start keeping an eye on its performance.

Tether doesn't perform, it's just used as a good indication of your BTC wealth. People suspect it's a scam due to it possibly not at all backed up by the us economy like they say, but the USD isn't backed up by anything but the perception of value anyway, since it's not measured against Gold like most currencies used to be. All exchanges right now use Tether as their main source of connection to mainstream fiat so people can trade. Until an alternative is made, which will probably be soon now that the government is getting involved, it's the only way to effectively freeze your BTC value during the rollercoaster.

If Tether starts performing we seriously have to worry. In the last few weeks when the FUD got extreme it went down to like 95cents on kraken, volatility in the USD/USDT pair is a very bad sign

holy shit newfags of Veeky Forums. Is this how /b/ felt during summer

If it starts moving and doesn't replicate what the USD is doing on the fiat market then yes, that would be cause to worry. The fact that Tether has a market cap and USD is effectively infinite due to the Federal reserve, it'll be interesting to see how Tether adapts to that limitation. The point of BTC is to be independent of fiat and centralisation anyway. But it can't be done unless enough people adopt this new currency. The inherent instability of this BTC means it's not going to happen any time soon, perhaps not for another 2 decades, so Tether or its equivalent is here to stay, up until it's no longer required. You just gotta play your hands when the market is in your favour and hope that the powers that be don't try to squash what could potentially be a world changing paradigm shift.

You see it's simple market.
let's say market shows it as 0.998USD for Tether.
I have 50m tethers, decide to cash out, but there is only tether orders to buy of 10m.
I start to lower my price cent by cent till I get rid of my 50m tethers. If there is buy order for .89 cents and I'm willing to sell for that price, I lose my value, but that buyer is happy as fuck, because next minute he can start selling them 1:1 and get 0.11 cent profit for each tether if there is a buyer.
It's forex game.
It can't be 1:1 all the time, if it is allowed to sell and buy over 1 or less that 1.
It's crypto forex.
I can clearly see it going so low if I dump 200m at once.
Who was that guy who got 1B loan of british pounds and crashed pound same moment when he dumped it?

Lol. The eternal copings of the no-tether. Stay poor faggots.

I tethered up earlier today, got filthy nervous when BTC rose 2 Percent. Never a tetherbaby again

Yeah, I heard from insiders it's bound to moon soon

...

You mean George Soros?

It's a fucking fake money... ask yourselves this - because it can happen - what would you fucking do if tether would drop to fucking $0 and you fuvking holding your fucking monopoly money on exchange!!!!

Don't be fucking a retard and trade pairs but not btc/usdt pair!!!! If you want sell btc sell it for eth you retards...

I still can't fucking belive you risking your fucking money selling to usdt....

poor guy.

How do you think an exchange transfers your sweet, hard earned cash into BTC in the first place? Magic?

lost

>buys a coin that's supposed to be worth only $1 and expects it to go up and get him rich.
wew lad