/biz/ - Business & Finance

>>8895977
no tax

*USDT

>>8895977
Speed and convenience

U can easily add it to ur credit card or chequeing account cuz it's dollars

>>8895977
U STD
top keks

>>8895989
>>8895979
so there is no delusions of any sort of moon mission? couldn’t this get fucked by regulation?

>>8895977

because if the price of crypto goes down in usdt you can buy more crypto

>>8895977
The use case for $USDT is to buy after whales have dumped and the BTC price has dropped. This gives you security against further dips in price of BTC. Once the BTC price has risen, and kept rising (showing that that dip has passed), you sell your USDT for BTC. Sure you have less BTC after this process, but that's the way of /biz/nizmen

>>8895979
People mainly use it for trading on exchanges where there’s no USD and/or to quickly transfer money between exchanges.

>>8895977
>Sell bitcorns for tethers
>bitcorns dips or crashes
>now you can buy more bitcorns with your tether
>bitcorn recovers and booms
>money

>>8896000
It could, and no wth who told you there would ever be a USDT moon mission?
Maybe the /biz/ telegram

>>8896049
no one told me about a moon mission. i just saw it posted here a lot but never read into it. if I see something spammed a lot i’ll save the name and read up on it when i have time, and finally googled tether and saw it’s supposed to be backed by USD 1 for 1. seeing how /biz/ is always chasing moon missions, I figured I was missing something and decided to ask what the scam was

>>8895977
Have you been sitting in USDT wait for it to moon?

>>8896070
no I just read about it for the first time and was wondering why people buy it if there is no potential for mooning

>>8896089
it protects against negative moon missions

>>8896099
so what my brane is piecing together is that if you think cripto is going to dip you can easily put your shit in tether rather than back to your bank account

>>8896067
>supposed to be backed by USD 1 for 1
Ah yes well, a fitting and interesting choice of words, since the scam is thus:
Tether is almost certainly not backed by USD 1 to 1, they have never released an audit on their stack of USD (which they've said they would many times in the name of transparency) and they've broken up with the auditor who used to supposedly do them, not usually a good sign, and none of these now past audits have been released
They might be operating (bad case scenario) on a system of controlling the flow and supply of tethers to keep the price stable and within the limits of their onhand cash supply, or (worse case scenario) they are operating on full fledged fractional reserve banking, in which case a big move to either side of money coming in or going out of the market could cause tether to implode
However, they've been pretty resilient so far so whatever they're doing might just be working, even longrun

Hedge for rough markets it’s why my 10 ETH is now 20 ETH after the drop from 1k to here

>>8896110
in some countries converting to Tether is not taxable but converting to Fiat istaxable

>>8895977
If I use BTC to buy stuff I have to pay tax because the BTC has gone up in value. USDT is always the same.

>>8895977
lock in the price