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RE: Even more interesting Tether (USDT) news?
I find all of this very confusing, @bengy but you seem to know your stuff.
Found your post on #steemitbloggers
I find all of this very confusing, @bengy but you seem to know your stuff.
Found your post on #steemitbloggers
We need stable coins (at the moment) if we want to shift from pure crypto tokens to a usd/fiat value without exiting fully to the banking system. These coins are called stable as they try to track the value of a real world asset (like the US dollar), which in principle, should mean that you can exchange them 1:1 for the asset they track. As they are crypto tokens, this means you are staying in the crypto ecosystem.
This is useful in times of large crypto drops, where you can exchange to the usdt (Tether) to protect the value of your investment, and buy back in quickly and easily when the market turns around. Exiting to the banking system costs both time and fees. With time being the most critical problem!
For quite some time now, it has been not entirely sure if Tether actually hold the assets to back their token. The idea that the newer stable coins are trading better against the older Tether reflects that lack of trust!