Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Topic started by: yongthanyee on December 04, 2017, 07:23:18 AM
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any folks can explain on Teethers ?....just so many good fellows who give such good guidance on the major alts...
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You mean tethers? They're supposed to be backed by the company having a dollar in a bank account for each one they've issued. However, people have cast a lot of doubt on whether that's true or not. That said they've so far managed to stay at around a dollar at other exchanges.
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What exchanges exactly are they listed on?
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Teethers is the only ICO coin link to Dollar. It should be 1 to 1. The price Teether coin is drop recently to 0.99, bit carefully if you want to invest them now, there are some legal issue recently, better wait and see.
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Tether is a coin that some time ago was quite viral. This coin always looks green when the other coins are in the red zone. But today, this coin looks different. Tether looks red when the others are green. This coin is often regarded as a dollar coin version of crypto currency. Because the value is stable like tollar.
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Tether, the coin in the big 8 is a crypto coin that is unique but not volatile like Bitcoin. This coin is set from the USD price so it is more stable. So in short, Tether is a combination of e-currency and Bitcoin security.
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Cryptocurrency Tether (USDT) is stablecoin. Unfortunately, Tether does not function as advertised. To explain, stablecoin is a crypto currency that is associated with a respected fiat currency. Ideally, one USDT will be worth one US dollar. The problem is that one Tether (USDT) is worth 98.88 ¢ USD on October 19, 2018. Therefore, Tether is worth a little less than US dollars. It shows the Tether there is no Tether conversion one on one to the dollar. The Tether bulls will note that USDT is worth nearly as much as one dollar. However, it violates the promise on the Tether website which claims USDT is 100% supported by USD. The price of Tether Coins raises serious questions about the whole concept of Stablecoin. There is no direct conversion between Tether and the dollar. Indeed, someone who turned Tether (USDT) into a greenback lost 1.22 ¢ on the transaction on October 19 2018. That would convince many people that conversion mechanisms such as Uphold's API are a better deal. The logical conclusion is that the market is preventing one-on-one Tether conversions. To explain, Tether or exchanges must buy dollars in the market for conversion. Therefore, they must pay the market rate for the dollar. In addition, exchanges or Tether charge the market price of Coins for USDT. In that case, conversion of Tether one by one becomes impossible. Another conclusion that we can make is that stablecoin is not possible. To explain, it is not possible to make a cryptocurrency with one on one conversion.