Thread: Ethereum
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Old 25th January 2018, 12:43     #159
Know me.
 
So let me see if I understand this.

I take some real cash and put it into an exchange to buy some crypto tokens, after trading for a while or transferring tokens between exchanges I end up with USDT and not USD but its all good because USDT is backed 1:1 by USD.

The USDT is much more convenient for exchanges because they don't have to deal with pesky brick and mortar banks or shitty transaction times of some crypto tokens. When the Tether Printer "prints" $100,000,000 when the market is going down, its people selling on exchanges and getting USDT in return instead of USD. Assuming that the exchanges that use Tether are buying 1USDT for 1USD using traditional means then it could be all fine. I could happily live off the interest of several billion dollars!

BTW the "volume" of transactions is probably hidden because they will be inter exchange or exchange to vendor.
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