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A comment on The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says. Parent comment

Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by vkou on Monday October 15, 2018 @02:02PM (#18222026)
> The token itself is used to facilitate trading and many investors 'park' their gains in USDT while waiting for the market to reach a certain point or just in between trades, but that means that the token's FX value is set by the open market itself so if there are more buy orders than available USDT the price goes up and if there are more sell orders than demand the price goes down.

If the USDT to USD ratio fluctuates so much, what is the point of 'parking' your money in USDT?

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Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by decentralised on Monday October 15, 2018 @03:27PM (#18222875)
It usually fluctuates by 2 or 3 cents ( ~0.98 to ~1.03).

https://coincodex.com/crypto/tether/

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Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by roywiggins on Monday October 15, 2018 @02:33PM (#18222342)
In theory you could just redeem your money from the Tether issuer, if it's actually backed by USD and they deign to let you redeem them.
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Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by vkou on Monday October 15, 2018 @03:35PM (#18222941)
In theory, cows are spherical. In practice, you can't actually do this.
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Re:The Cryptocurrency Industry Is 'On the Brink of an Implos... by lawn on Monday October 15, 2018 @02:43PM (#18222462)
AFAIK nobody has ever redeemed any Tether.
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