The hell is a Tether? This is why I sink my head low into equity indices. You crazy people and this Crypto (and crypto derivative stuff Oy!) Are there options on crypto yet? Let's get even more nuts!
It's a crypto with no volatility. USDT. You can trade your Bitcoin for it and then trade it for USD. It's what people who missed the bandwagon bitch about on their spare time while others are profiting
So I spend USD on BTC. Then I trade the BTC to Tether. Then I trade the Tether to USD? The fack is that? Does Tether somehow enhance the USD value when it goes from BTC -> Tether? I want a pack of Wrigley's gum. How many tethers do I need in my electric wallet to buy a pack of Wrigley's gum? It is coming, dudes, and only one side is going to win. *hint* It is not going to be the electronic side.
As I said, as long as you can see your charts everything is fine, ignore a 1v1 with only a 3% backed by USD but still shown as 1v1. Ignore that, the chart looks very nice.
What you are failing to realize is that sending Tether is faster than sending USD to an exchange from a bank. It takes at least 5 days to see your money from an ACH from a bank, Tether only takes seconds. You can also send Tether to other crypto exchanges in seconds for less than 3 cents, and then trade with it. And FYI the electronic side has already won. We are now waiting for USD to be digital
We? Have you received any tether free of charge that was printed out of thin air? I see your dislike for centralized banking but let's stay reasonable and factual. There are a few who benefit greatly and who those individuals are is all obscured through multiple layers of opaqueness
It wouldn't be at 50k in the first place, if not for this tether, that is unlimited and worthless. (Artificial demand) Then they use btc to back it up. And then the same tether to buy btc. What could go wrong. Meanwhile random Joes, thinks about it as a store of value. That's the truly wrong/unfair/shady/corrupted part.