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Old Yesterday, 09:31 PM   #30801
aggo
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Re: Bitcoins - digital currency

Market trying to be efficient..

Usdtusd~ 0.96
Btc usdt 6700

6700* 0.96 = btcusd price


this is why there was a dislocation last night where tether was trading around 0.85 and premium on tether exchanges for BTC skyrocketed. But its really just an illusion because at the time tether was not valued at 1:1.
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Old Yesterday, 09:48 PM   #30802
bucktotal
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Re: Bitcoins - digital currency

only way to sell usdt on exchanges is to buy btc and alts.
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Old Yesterday, 09:50 PM   #30803
RT
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Re: Bitcoins - digital currency

Back down to .96. Swongs

Last edited by RT; Yesterday at 10:19 PM.
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Old Yesterday, 10:13 PM   #30804
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Re: Bitcoins - digital currency

Tether missed the ultimate arb opportunity. Buy up cheap tethers last night at $.85 per, then return them to the treasury at a profit of 15 cents per tether returned. Once this little FUD blip passes, it's all good.

Since each tether is backed by one dollar held in reserve, this can be done until demand dries up. Free moniez.
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Old Today, 12:07 AM   #30805
Dutch101
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Re: Bitcoins - digital currency

Quote:
Originally Posted by wtf5 View Post
Because bitfinex is solvent and the people spreading fear have no solid evidence that bitfinex isn’t solvent and tether isn’t backed 1 to 1.
There is no evidence either way and as pointed out bitfinex can make a killing buying tether at below 1.00
if tether is 100% backed but failed to do so.
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Old Today, 12:43 AM   #30806
aggo
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Re: Bitcoins - digital currency

Quote:
Originally Posted by RT View Post
Tether missed the ultimate arb opportunity. Buy up cheap tethers last night at $.85 per, then return them to the treasury at a profit of 15 cents per tether returned. Once this little FUD blip passes, it's all good.

Since each tether is backed by one dollar held in reserve, this can be done until demand dries up. Free moniez.
its not an easy arb.


AFAIK there are only a few select firms that actually have the ability to withdraw. I was told this information 2nd hand idk if its true at all. A normal guy who AMLKYCs himself won't be able to withdraw... then again, the only folks who are buying tether rn through the treasury are in SE asia and do so knowing that there is no withdrawals of fiat.
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