USDT

>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

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

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.

>not letting it sit as USD on coinbase

>letting anything sit on coinbase

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

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.

thank you for your answers, very helpful

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

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

>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.
tether.to/legal/

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

>yada-yada

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

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.

>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

>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

Well, there's always Litecoin.

All altcoins are usually affected by bitcoin

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.

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

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

>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.

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.

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

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?