💵 What is USDT?

On many stock exchanges, your account is shown not only in BTC, but also in USD Tether. At first glance, it seems that this is just the equivalent of the dollar, and in general it is, but if you dig a little deeper, it turns out that everything is not so unambiguous.

Tether was created by the founders of the Bitfinex exchange - Philippe Potter and Giancarlo Devasini. It was created to provide some stability in the high volatile cryptocurrency market. Thus, tether has become a kind of hybrid between crypto currency and fiat money.

As for now, 1 USDT is really $ 1, but the only reason for this is that the exchanges keep an equivalent to tether amount of US dollars. And this is why USDT has a lot of critics.

Because Tether is an absolutely centralized system, it is completely dependent on its creators, their financial status, and relations with the authorities. Bitfinex has long been suspected that they are misleading people and more USD₮ are issued than are backed by fiat dollars. Some even say that tether is used to manipulate the price of bitcoin.

Bitfinex denies everything and states that they have enough fiat funds, which also confirms the audit that they suffered of in September 2017.

But there are certain facts that still make questions. In the Tether wallet user agreement, there are words that the USDT is not money, currency or a monetary instrument, and that they do not guarantee its convertibility into dollars. And given the fact that registration in Tether is not available from the end of last year, there are still more questions than answers.

TIP

📈 When the going gets tough, the tough gets going.
Hold your positions 👍
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Bitcoin growth will be naturally much slower.

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OVER A MONTH BEFORE, an article "EBay Adding Bitcoin Payments" was released (12 Dec 2017).

And now there is a rumor that EBay will start accepting Bitcoin as one of the payment options. Ebay dropped paypal as its main payment option. The payment processor is Ayden which has a partnership with Bitpay.

https://www.ccn.com/ebay-seriously-considering-adding-bitcoin-payments/

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Bittrex plans to open registrations again. We'll keep you updated when that happens.
https://cointelegraph.com/news/major-cryptocurrency-exchange-bittrex-to-add-usd-trading-reopen-new-user-sign-ups

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