Making money with tether

[Anonymous No.20632846]

Serious question biz: if one puts $10k into tether at $.99 and sells out at $1.00 (easy $100 profit) and it does this every day, why aren't more ppl doing this? Am I missing something?

[Anonymous No.20632863]

>>20632846

Why do you think there is so many stablecoins?

[Anonymous No.20632875]

>>20632846
This is literally how we all make money. Please delete this thread

[Anonymous No.20632942]

Yes. It doesn’t go to .99 pretty much ever, it is more like .998
You’d need to have a huge amount of money to make that work against transaction fees to make this work. Plus there is no guarantee it will be 1.00 the day after

What people actually do and is a pretty recent thing is using arbitrage opportunities around Dexes on ethereum with flashloans. For example, let’s say DAI costs 0.99 on uniswap and 1.01 on bancor or whatever. You can use things like curve.fi to borrow 100 million USDT, buy up DAI at .99 on uniswap, and sell it for 1.01 at bancor, pay back your loan and keep the profit — all within the same transaction on ethereum. Such smart contracts only allow for loans of this size f you pay them back within the same transaction.
People do this quite often on ethereum, but you need big brains and good research to code transactions like that. It is possible and even encouraged because your arbitrage will stabilize the price at the right level

[Anonymous No.20633130]

Thanks, that was helpful.