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RE: Investigating the Top 50 Cryptocurrencies, Part 34/50: Tether
I don’t understand the appeal of Tether. If it is pegged so well to the USD, what is the point? Why not just hold USD?
Also all the concerns around the hack and the links with bitfinex etc make this one to avoid in my book.
Most exchanges don't have trading pairs matched to real USD so it's often not an option if you are actively trading. I am skeptical of Tether but I also don't like holding my trading funds in BTC due to its volatility.
Ok good point. But most exchanges don’t offer all alt/ tether pairs either. I accept bitcoin is extremely volatile but is in a bull market. Given the accusations of fraud that surround tether plus the fact that it’s not a decentralised currency (ie not really crypto) I would much rather trust btc.
Same reason I used to hold SBD - so that I could avoid losing a large % of my money to a market downturn.
Of course now with SBD all bets are off.. and Tether even worse... maybe some of the BitShares pegged currencies will still be stable, but at this point who knows.
At least bitshares tied currencies are decentralised and not subject to a company going bust, running off with your funds or other kinds of fraud! I don’t trust tether. Too much created recently without explanation.
Totally agree with you about both BitShares and Tether. Tether's looking mighty suspicious right now lol