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RE: Bitcoin (BTC) Morning Update: Why is it so difficult to project time?

in #bitcoin4 years ago

What are your thoughts on monitoring the spread between bitfinex vs gdax or other exchanges? What sorts of signs should we look for to warn that the tether crisis is starting to unfold.

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I would not rely on USDT ever. The price is NOT guaranteed, and it fluctuates...at times it has fluctuated more than 25 cents down from $1.00. It's expensive to move around, slow, and not worth a dollar....find a method of converting back to true blue USD. I hate Kraken because they can't accept an order unless you submit it 50 times over an hour, but they do offer a market that allows you to use the USD pair with most coins there.....gives you options for moving to other markets or wallets.

The tether crisis started unfolding when someone started siphoning out millions of dollars, and through that time they never self audited or had a third party come and audit to reassure holders of USDT.

Too much trading.

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