What's Tether's legal status? Bitfinex and Tether on the hot seat right now and new reports shines light on it's legal status. Get out while you can!
*** If you want to get through the video in record time, set your playback speed to 1.25x, 1.5x or even 2x.
Here are the links from the video above:
|| https://news.bitcoin.com/new-reports-shine-a-spotlight-on-tethers-legal-status/
|| https://seekingalpha.com/article/4145026-tether-really-responsible-half-bitcoins-gains
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I personally think that bitUSD, bitCNY or even bitEUR are a lot more secure way to keep your money safe and pegged to fiat than doing it via Tether.
I 100% agree with that.
I think the risk is that these are derivative instruments which depend on a strong BTS, aren't they?
So logic would imply that if a large amount of the increase in BTS price and all the bitFiats created was due to excess funds from the rest of the crypto world pouring in, then that means that when liquidity is drawn out it would also disrupt the bitEconomy heavily if it too was pumped with inflated Tether-priced assets. I think there is still tremendous risk even in the assets you listed, even if I personally agree that they are safer than Tethers, I do not believe they are invincible.
Agreed on that. BitAssets aren't invicible, but they are a lot safer than USDT. They have special margin calls happening in these cases. So supply of bitassets isn't a thing that always goes up. Also, there is a black swan event.
It definitely will not crash the market but it could cause a lot of government regulation to come in
Yeah I see regulations coming in sooner rather than later. It's a necessary means. I know a lot of people are against them, but these protective measures also protect a lot of people and prevent more scams and ponzi's flooding the market.
It's only a question of when will tether breakdown and fall apart.
Man.. I hear so much news about it being a scam. It's really controversial token. And now that the government got its eyes on it aswell its going to happen fast.
If you put your money in Tether to hedge the correction you are making a risky move for sure. At some point in time you are likely to see the value go down extremely just like Bitconnect.
In my opinion just put your crypto into Ether. It has a great roadmap still. It's still volitile but atleast it functions properly aaand in 2018 the Flippening will probably happen. I mean where is the Bitcoin progress? Im not seeing it!
Also a little side story. Today a friend told me that he's doing a job making a logo and he is getting paid in Ether. I think that's pretty awesome haha.
Thx for the update! And have a good day!
I agree that Tether is very likely to be scam and will not likely end well for hedgers/hodlers. However, I suggest putting Tether into LTC, NEO and ETH is more strategic than just putting it all in ETH. ETH I fear may become the BTC of smart contract platforms. It's an amazing team, but currently there are critical issues that still need to be solved with regard to transaction time and scalability.
I suggest NEO because it is a scalable, much faster (with promises quadruple VISA transaction speeds) smart contract platform that is still significantly undervalued. I suggest LTC because I do not under-estimate the likely hood of LTC becoming the first cypto to be used as currency. And when the Lightening Network is implemented, I think it will see astonishing gains, because it will be the basis of so many value transactions. OMG has me optimistic about the future of ETH, but OMG is still a much younger project than LTC and NEO. But definitely over the first half of this year, ETH is still a solid hold I believe. I just believe with regard to long term hodling, NEO and LTC are more promising.
Totally agree on that. It is better to diversify your crypto. I want to buy NEO aswell when I have more fiat again ;)
If you like NEO, check out NAS. Same founder.
I most definitely will, thank your for the lead
💯 agree. Especially with LTC coming out with litepay.
Wow that’s cool! Getting paid in Ether is the way to go. I do agree that hedging using tether is less of a hedge and more or a huge risk.
Hope it will keep safe the market.
Good work,i like it keep it up,
Thanks so much for the support!
Nice post!
Thank you so much!
the hell went to hell, there will not be any B of bitcoins left
We will see soon i suppose! ;)
Yeah. Hopefully not too soon for those who are holding tether.
Wouldnt mind it goin now so we can just move on and get crypto where it should be going. Thanks for the reply!:)
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Wow that is amazing! That's really great to know :) thanks @bitgeek
Tether is most likely NOT a scam. Bitfinex just paid a MASSIVE dividend to its shareholders, its market price (tether) remains quite constant. That means the market believes them to NOT be fractional, regardless of all the articles to the contrary.
Thats my 2cents anyway. I'll trade in Tether anyday, period.