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/biz/ - Business & Finance

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3050765 No.3050765 [Reply] [Original]

The purpose of tether is to put your BTC into during a downtrend/bear market/crash without having to cash out, right? Is that what people do with it? If not, what is the point? A little confused about it.

>> No.3051810

>>3050765

It's where you put your money into when you think you're feeling smart, only to see that you timed the market wrong again and it moons beyond any boundary, forcing you to FOMO and buy back at a shittier rate.

>> No.3051828

It's a crypto backed by physical cash.
Neat idea desu.

>> No.3051841

>>3050765
It also helps you withdraw from the fluctuating market for a little while, while not getting taxed

>> No.3051843

I thought the point was crypto without the volatility.

>> No.3051847
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3051847

>>3051810
Can confirm, this is exactly how I've always used it.

>> No.3051856

>>3051810
hahahaha

>> No.3051858
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3051858

>>3050765

The ACTUAL purpose of Tether is to allow Mt.Poloniex to stave off insolvency when a REAL crash occurs and everyone heads for the exits.

>> No.3052071

>>3051810
Did this at 3850 for bitcoin, luckily I was able to wait a day and buy back in at 3850

>> No.3052090

>>3052071
I like trade fees also

>> No.3052134

>>3051841
>paying taxes

>> No.3052143

>>3052090
>>3052134
>paying fees