Dear crypto traders and investors
I just want to point to an important point about USDT(tether)
https://coinmarketcap.com/currencies/tether/
USDT market cap was
$61.247.792 on 15th May 2017
and now it is
$452.771.404 on 30th Oct 2017
USDT Circulating Supply is increased 7,4 times
Normally this is a good thing for crypto world
but if all USDT is %100 reserved with FIAT
If USDT is not %100 reserved with FIAT then
in future we will see an exploding balloon on USDT
One day when you wake up you can see all your USDT = 0$
Maybe I am wrong but I am just a skeptical person
This is why I am warning
SOLUTION
You can protect yourself with bitUSD
it is always equal to $1 mathematically
because all bitUSD created with minimum $2 worth of bitshares(BTS)
If value of BTS decreased then bitUSD borrower need to deposit more BTS
It shows us bitUSD is %100 trustuble crypto USD
You can watch this video to understand how you can create bitUSD
Thanks for reading...
Yes it’s worth finding out more about bitassets
Thanks for pointing that out i was about to make an investment here good thing i read your post it helped a lot. I think i would hold off for awhile and just obeserve where this crypto is going. Good job. You have earned yourself a follower sir
thank you
after the upcoming bull market I will hedge my profits in bitUSD or bitCNY. This simple process is really worth learning about when dealing with cryptos.
I’m doing the same with also hero coin. BitGold. BitSilver. And also bit euro.
Im sure i read an article posing the same problem about USDT - but later was provided with evidence showing each USDT was 100% backed to 1 USD. Might be worth a double check though :)
Hi,
These are interesting facts. Nice share and keep it up for awareness in Community. I am attaching a link which will guide you to upload your profile picture. I see its missing. Cheers
https://steemit.com/steemit/@tusharvasave/how-to-set-and-upload-profile-picture-and-cover-image-on-steemit
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awesome thanks