Buy tether when the market is crashing?

T

trick0502

Supreme [H]ardness
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Apr 17, 2006
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I’m on the newer side to crypto, just want to say that first.

Tether always stays between .99 and 1.01. How, I don’t know. With it never really changing in price, why not convert your cryptos to tether to avoid losses when the market is crashing?
 
Well, the real problem is recognizing an actual crash before it gets severe.
Some of us were still "buying the dip" way too early, thinking another scare
about nothing. If its a prolonged downturn and you realize in time, just cash
out to real money till it stops going down, only THEN buy the dip. I wouldn't
want to be the guy testing the stability of Tether against an actual crash.
 
Tether stays close to a dollar because is pegged 1:1 to the dollar. How do you think buying tether helps avoid losses vs just converting to fiat instead?
 
cpuspeed said:
Tether stays close to a dollar because is pegged 1:1 to the dollar. How do you think buying tether helps avoid losses vs just converting to fiat instead?
Click to expand...

Sometimes it's more difficult to exchange to Fiat. See polinex
 
Considering it is a taxable event, you might as well exchange to actual dollars.
 
It's what a lot of traders do, the issue is (1) timing it correctly and (2) for me personally as already brought up, there is the notion of the "tether bomb." That is, the day their whole ridiculous money printing scam explodes and tanks the market even more.
 
Yeah it feels like the tether implosion is only a matter of time. Impression I get is that it will hit the market hard...probably harder than anything we've seen thus far. Great time to buy. :)
 
amount of tether marketcap is $2.5B. crypto marketcap is $330B. so tether is less than 1%

also if there really was an empty bank account behind tether it would already be known, charges filed.
 
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