I know there are a lot of crypto skeptics here, but if you believe in Bitcoin more than Tether at least then you should buy Bitcoin...if Tether does indeed fail Bitcoin will almost certainly spike past 2017 highs.
Tether loaned USDT to investors and illegally traded in New York, says NYAG
31–40 of 133 posts
Re: Tether loaned USDT to investors and illegally traded in New York, says NYAG
#32USDT has a strong following in APAC countries. Also for some crypto users part of its allure is that it’s vaguely sketchy - it means they are less likely to have their funds blacklisted, a feature which Tether maintains the ability to do but has never enforced as far as I’m aware. If you are getting into the space now USDC is an audited stablecoin backed by Coinbase and Circle which has the second highest issuance af…
If you want to buy cryptocurrency, why not just buy Bitcoin? In contrast, I don't see a worthy reason to sell US dollars for any stablecoin.
I always thought Tether is mainly used for parking money when trading.
Re: Tether loaned USDT to investors and illegally traded in New York, says NYAG
#33Tether business model is dependent on banks.
Banks are always a huge risk when you deal with crypto. They can freeze your funds anytime.
You need to be on regulators side or they'll attack you on the bank accounts.
That means full compliance with KYC/AML and so on.
Re: Tether loaned USDT to investors and illegally traded in New York, says NYAG
#34USDT has a strong following in APAC countries. Also for some crypto users part of its allure is that it’s vaguely sketchy - it means they are less likely to have their funds blacklisted, a feature which Tether maintains the ability to do but has never enforced as far as I’m aware. If you are getting into the space now USDC is an audited stablecoin backed by Coinbase and Circle which has the second highest issuance af…
"vaguely sketchy" What does that mean? That doesn't sound like a positive thing.
> it means they are less likely to have their funds blacklisted
Re: Tether loaned USDT to investors and illegally traded in New York, says NYAG
#35Earlier quoted context omitted.
If you want to buy cryptocurrency, why not just buy Bitcoin? In contrast, I don't see a worthy reason to sell US dollars for any stablecoin.
I always thought Tether is mainly used for parking money when trading.
My buddy was telling me he transferred bitcoin from one exchange to another. When he sold his bitcoin, he got taxed at the full value of what he sold the coin for not just his gains. Couldn’t he have just parked his funds and basically used that as a bank account?
Re: Tether loaned USDT to investors and illegally traded in New York, says NYAG
#36USDT has a strong following in APAC countries. Also for some crypto users part of its allure is that it’s vaguely sketchy - it means they are less likely to have their funds blacklisted, a feature which Tether maintains the ability to do but has never enforced as far as I’m aware. If you are getting into the space now USDC is an audited stablecoin backed by Coinbase and Circle which has the second highest issuance af…
Tether is technologically superior and has 90% of marketshare compared to any other stable coin. If FUD scares you then crypto trading is not for you
I'm working on a new project that detects when cryptocurrency people use the word "FUD" and automatically triggers a giant novelty boxing glove to come out of their monitor and bop them in the nose.
Re: Tether loaned USDT to investors and illegally traded in New York, says NYAG
#37That’s how people make money, what’s the big deal?
How reasonable is it to expect they can loan USD to people for free (ie at zero interest)? Only a moron would do that.
Re: Tether loaned USDT to investors and illegally traded in New York, says NYAG
#38Earlier quoted context omitted.
I always thought Tether is mainly used for parking money when trading.
My buddy was telling me he transferred bitcoin from one exchange to another. When he sold his bitcoin, he got taxed at the full value of what he sold the coin for not just his gains. Couldn’t he have just parked his funds and basically used that as a bank account?
Who did the tax collection? Did the exchange collect it automatically, or did your buddy do the filing? If the former, the exchange is sketchy; if the latter, your friend messed up.
Re: Tether loaned USDT to investors and illegally traded in New York, says NYAG
#39Earlier quoted context omitted.
I always thought Tether is mainly used for parking money when trading.
My buddy was telling me he transferred bitcoin from one exchange to another. When he sold his bitcoin, he got taxed at the full value of what he sold the coin for not just his gains. Couldn’t he have just parked his funds and basically used that as a bank account?
Sounds like your buddy may wish to chat with a CPA/tax-advisor.
Re: Tether loaned USDT to investors and illegally traded in New York, says NYAG
#40USDT has a strong following in APAC countries. Also for some crypto users part of its allure is that it’s vaguely sketchy - it means they are less likely to have their funds blacklisted, a feature which Tether maintains the ability to do but has never enforced as far as I’m aware. If you are getting into the space now USDC is an audited stablecoin backed by Coinbase and Circle which has the second highest issuance af…
"vaguely sketchy" What does that mean? That doesn't sound like a positive thing.
There are theories that USDT is not actually (fully) backed by dollars, and instead just minted to push BTC value up.