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8104668 No.8104668 [Reply] [Original]

I have never used tether. Is this how it works?
Lets say Bitcoin goes to 20k and suddenly starts to crash. For me to cut my losses, I move everything to tether as it is always worth 1usd
Once the crash is over I move out of tether and back to Bitcoin. This way I avoid being fixed at a btc amount during the crash

>> No.8104724

>>8104668
You're essentially betting that the market will experience a dip if you buy tether however tether itself has had its downturns as well when last year's shitstorm involving foreign banks not fulfilling Tether transactions which caused its value to go drop compared to fiat.

Tether can literally become worthless overnight buying you close to nothing if shit hits the fan again.

>> No.8104751
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8104751

>>8104668
I think so I'm a bit simple on the subject myself

>> No.8104807

>>8104724
if tether crashes, everyone will go back into btc and btc will moon. worst of worst worlds if you had just exited to tether to avoid a btc dip. but that is an unlikely scenario...it may happen one day but who knows when or if

>> No.8104818

>>8104668
use DAI, not Tether. DAI is a decentralized stable coin

>> No.8105004
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8105004

>>8104668
Kraken allows you to hold fiat, so i would just move bitcoins there and exchange it to real money. Transfer cost is like 0.001 BTC, having in mind that it guarantees that your money is safe its worth it imo

>> No.8105028
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8105028

>>8104818
>t. money laundering Chink

>> No.8105086
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8105086

>>8104668
>Pump it

>> No.8106223

Think of Tether exactly like dollars. It works in the exact same way as selling your bitcoin for dollars