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A comment on Bitfinex and Tether required to end all trading activity with New Yorkers. Parent comment

Re:Bitfinex and Tether required to end all trading activity ... by mcintyre1994 on Tuesday February 23, 2021 @01:57PM (#26241279)
> There's no way to transfer USDT into USD. The few exchanges that say they offer withdraws actually don't if you go and try.

So what actually happens when people sell Bitcoin? They get USDT on an exchange and then can never get cash out? Is there some convoluted series of trades you can make from USDT -> ??? -> USD or something instead? And people selling Bitcoin have made enough profit to just ignore the overhead of those trades I guess?

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Re:Bitfinex and Tether required to end all trading activity ... by T0Bi on Tuesday February 23, 2021 @03:25PM (#26242423)
OP got that wrong. It's very simple to exchange USDT for USD, you can do it on Kraken and Binance and withdraw to your bank account. No problem at all
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Re:Bitfinex and Tether required to end all trading activity ... by kevingadd on Tuesday February 23, 2021 @05:36PM (#26243907)
Isn't that trading, you're selling USDT to someone who wants to give you USD for it? That's different from telling the operators of Tether itself "Here's some USDT, give me the USD that backs it".
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