ATTENTION!! STOP using Tether USDT immediately!

Technologov

Technologov

Active member
http://www.newsbtc.com/2017/03/21/tether-balance-sheet-unveils-large-discrepancy-usdt-usd-reserves/

Moreover, 1 USDT goes for $0.94 USD at Kraken today. (18.04.2017) meaning, that savvy investors believe there is a risk of USDT collapse. Discounting USDT price vs. USD. Theoretically they should be traded at 1:1 basis.
More facts: 1 BTC trades for 1240 USDT on Polo, vs 1200 USD on Kraken. Why? Not because BTC is worth more, but because USDT gets a risk discount. 3.5% difference is way too big, not normal.
More facts: USDT is linked to Bitfinex. Proof:
https://www.reddit.com/r/ethtrader/comments/65xbbr/bfx_issues_megathread/

It shows Plaintiffs "iFINEX and TETHER LIMITED". My recommendation, from savvy investor with 10-year of experience, stay away from both Bitfinex and Tether USDT, until situation clarifies (or until both entities go bankrupt). Too many red flags.

I know that lots of people are trading DASH/USDT pair on Poloniex. They are about to lose their pants. And I really don't want anyone to get hurt.

-Technologov, 18.04.2017
 
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I used to be a big nubits fan but it turns out that maintaining pegs, even in cryptoland, is basically impossible.
 
Sorry for grave-digging, was doing research on Tether a.k.a. USDT and happened to see this post.

It seems that USDT currently is quite stable and trading at a surplus (at 1.01 USD). Many exchanges stop accepting fiat USD and opt for USDT.

What are you guyz opinion on this?
 
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