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RE: Tether - The Not So Stable "Stable-Coin"
Why would a coin that is supposed to be worth only $1 be trading for $1.24?! Are people crazy? Even if it could be proven that there is financial backing for it, why would you pay a 24% premium? The only reason I can see for that is if there are no other options and you need it to get into a different asset. Thanks for keeping us up to date.
It was a 24% discount. Its now trading for a 9% discount. So you can buy a Tether for .91 worth of Bitcoin but since Fiat withdrawls are suspended, you can't cash it out "temporarily"...that is the risk.
Whoops, I had it backwards. Ha ha. I'm still not sure I would have bought it. That's a big discount, but if it's on an asset that likely has no value I'm not sure it's worth it unless you're certain the price will rebound and you'll be able to get out.
Kinda like buying oceanfront property in Arizona. Come to think of it, I haven't heard that song in a while...