“Though Bitfinex lacks the banking connections to accept dollar deposits, it has denied that it is insolvent. Tether announced a new banking relationship with Bahamas-based Deltec Bank in November 2018, releasing a letter, purportedly from Deltec, that said it had $1.8 billion on deposit with the bank. The letter was two paragraphs long and signed with an illegible squiggle, without a printed author's name. A Deltec spokesperson declined to confirm the information in the letter to Bloomberg reporters.” —————————— LMAO! Sounds perfectly legitimate
Bitcoin derivatives can be traded buy/sell but if you intend to own the bitcoin digital asset (i.e. bakkt futures or options exercise) you will need to spend the $$$ amount price quoted per bitcoin.
How do I acquire Tether without money? Honest question. I spent real money to acquire bitcoins/crypto digital assets as I did not know your methods of acquiring them without money. I also mined some bitcoins but the mining hardware and electricity cost me $$$
It is not fake internet money. Stop acting like a kid and spouting nonsense. https://finance.yahoo.com/quote/BTC-USD?p=BTC-USD
Essentially they started as yet another crypto, but then somehow managed to get tether accepted as payment medium for any digital currency promoting that every tether is backed by $1. When their auditors walked away, Bitfinace first claimed that auditors too dumb to understand the model, then they acknowledged that tethers are not really backed exactly by $1 but by some kind of loans. When that lie failed, they just went quite but keep creating tethers out of thin air, and tethers are allowed to be used by many platforms as way to buy BTC and the rest. This is why BTC price is where it is. It is artificial price that is being manipulated by artificial tethers with hope to keep luring public with their real funds. Had BTC been trading only with real money, it would be way below 1K and probably would never reach 20K to begin with.
You have held on to this fear of the Tether for 2 years (I think that's the timeframe) and I think you will continue to hold on to that fear as your excuse not to get into bitcoin and cryptocurrencies. Tether is a very small portion of the bitcoin financial system. You know that since you're obviously read up on it. Do yourself a favor, you don't have to buy a whole bitcoin, if you can afford it, buy $500 worth and play around with it on your phone, spend it, take out money from a bitcoin ATM, give $50 to a friend. That bitcoin in your phone will function without clearinghouses or banks but utilizing a 24/7/365 decentralized, peer to peer, distributed blockchain-based bitcoin network that has never been hacked or has never gone down since it started 11 years ago. Read the OP, the article is describing the ability for a wealthy Chinese to be able to store value in bitcoins and be able to travel anywhere and extract that value. If someone told you 15 years ago that you can have a Swiss bank account in your phone that you can access anywhere in the world, wouldn't that be a valuable concept?
But if you have $50 in your bank, 3months later it's still worth $50, not $100 ( good ) or $25 ( BAD ) If I ran a business and took BTC, I'd instantly sell it and convert to regular cash just incase it gets killed.