interesting and beautiful sharing

we all know that this is not going to end very well..

You got a 26.03% upvote from @allaz courtesy of @ddangerwu!

good info i have no thinking about that

<p>This post has received gratitude of 16.42 % from @appreciator thanks to: @ddangerwu.</p>

你好，我喜欢你的帖子。 我是外国人居住在中国，我不知道如何使用bitshares购买BTC或SP，我无法在我的bitshares应用程序中找到RECHARGE按钮，你能告诉我怎么做吗？

I think a lot of people heard about the Tether story and are well ware of the danger, but what is the alternative? Switching to fiat in and out is not a practical option, neither is storing the value in BTC as it fluctuates so much.

I trust that Tether is, based on latest developments, not better than actually holding any coin or token. The risk of losing it all is given at any investment in Cryptocurrency. USDT was supposed to provide safe heaven the moment you wanted to go to bed. But it turns out that it incorporates the same risk.

It is all about convenience. If you were a trader and wanted to be 100% sure (if that is possible) you would have to go short on all investments, exchange those against BTC, LTC or BCH or ETH, transfer to an exchange like Coinbase and cash out in Euro or US Dollar. This process is extremely inconvenient and takes some time to perform.

For the time to come, I can see more exchanges offering FIAT trading pairs; this would not require USDT anymore from my perspective. BUT the exchanges would have to hold their reserves in FIAT then, which is incorporating other risks.​​

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Ok I will give this a shot...

Started with bitcoin in 2014 buying, trading, and cloud mining.

https://steemit.com/investing/@cassidyandfranks/investing-thirds-rule-strategy


Invested 33% of my BTC into other coins and other what turned out to be some scams/ponzi schemes which I will not go into detail for now.

Knowing that I have 2/3rds of my BTC in Cold Storage and in Various Wallets, I started to take 1/3rd of it and TRADED in THIRDS to get back that 1st THIRD (33%) that I lost from those scams/ponzi schemes.

Using "thirds rule strategy" which can be GOOGLED I sucessfully recovered my 1/3rd by 2016.

Now I after learning from that loss I continued...

Buying in Thirds

Selling in Thirds

Trading in Thirds

https://steemit.com/thirdsrulestrategy/@cassidyandfranks/post-it-notes-thirds-rule-strategy-bitcoin-ethereum-steem

https://steemit.com/thirdsrulestrategy/@cassidyandfranks/post-it-notes-thirds-rule-strategy-selling-ethereum-eth-sold

https://steemit.com/thirdsrulestrategy/@cassidyandfranks/post-it-notes-thirds-rule-strategy-selling-bitcoin-btc-sold

Hopefully I will be encouraged to continue to post my "thirds rule strategy" for 2018

Don't worry. This bomb will drop perfectly timed to crush yet another bull run.

i enjoyed that  clear and layed back style ! i m on bitshares and using the bitusd system ! id imagine the folk in the federal reserve hate the bitshares  version even more because of its decentralized nature which theoretically makes it harder to take down ! id imagine they have their eyes on this assett too !

Tether is the biggest scam in crypto after Bitconnect

I feel like when this tether situation blows up we could see a huge adverse effect on the market as a whole

Teather is a timeeee booooomb! 

I havent seen your videos. Now im following!
D.

虽然就听懂了一句，但是还是坚持看完了。
类似于sbd对标美元，USD T也对标美刀。
用处就是用token起到代替美元的作用，好处是很多银行没有虚拟币交易的服务，但是USD T可以。
缺点是USD T的所有权归美国政府，并且政府有权在任何时候收回。
所以投资USD T需谨慎，三思而后行。:)

Stop using USDT and use DigixDAO (DGD). Not only are you avoiding the potential implosion of tether but you're buying a gold-backed crypto which always spikes when BTC goes down. It might even be an opportunity to gain satoshi value.

Based on all the media reports I've seen, and the simple fact Tether has been subpoenaed by U.S federal regulators regarding their junk audits and fake accounting, its looking more and more like Tether is Bernie Madoff 2.0 just waiting to happen. 

They previously hired the accounting firm Friedman LLP to perform an audit, which itself has proven to be a sham. After the audit was completed back in Sep, Friedman stated that Tether has over $440 million dollars in reserves, and that the Tether tokens in circulation amounted to roughly $420 million dollars. 

But the results of the audit prove no real audit was ever completed, and the statements by both Friedman and Tether prove this. The financial institutions that supposedly held the reserve funds for Tether were blacked out, and when Friedman LLP was questioned about their findings, they stated they didn't bother to investigate the reliability of the data Tether provided them.

Sorry to tell Friedman LLP, but that's now how financial audits work. IN a legit audit, all financial assets would be verified, that's the whole reason we have audits to begin with. Its also the whole reason why U.S regulators are down Tether's throats right now. 

There's a lot more to all of this, including the fact Tether is directly tied to Bitfinex, I guess the U.S regulators scrutiny will likely shed more light on what the heck is going on. And here Bitfinex  has already been canned by pretty much every commercial bank imaginable, I think that says something. Bitfinex  is a crypto exchange with no oversight and zero accountability, obviously this is a problem.

I think this is basically a scam, there is no way they have enough $USD to cover all the USDT in circulation, the people who sell last will be left with worthless USDT....



In my opinion it is kind of pointless to try to peg any crypto to $USD.  $USD is on a slow path to hyper inflation (much like most fiat currencies that are controlled by central banks), it will eventually fail, why would you want to peg a currency to another currency that you know will ultimately become worthless...

So many rumors around by getting chased. Some say they try to find the user to pay taxes. I saw my friend still mumbling about it any way me myself did not use the tether after seeing some issues about it.

Yea tether is not safe, Govs can take away USD easily. BitUSD is one option but there is also Gold based cryptos that is more stable than crypto :)

@ddangerwu - it is all good explanation until ... what you glossed over - smart assets on bitshare: bitUSD, bit EUR, etc., so, how are they different or better than USD tether?
In the end, I would HODL on to major VA or CC such as BTC, ETH, LTC and USD (not USD tether or any other crypto-cash / fake fiat).

Alternatives to exchanging to USD tether:
- USD fiat (at coinbase.com)
- BTC / ETH / LTC
- Steem and then park / HODL here and Power Up

go through my profile

greatstuff!!! :):):)

Total Assets 	$2,248,665,722.36
That is what Tether Claims to have right now, 2.2 billion dollars and yet they say they audit but I could not find the name of their auditors (red flag). In January, apparently Tether cut all relations with its auditor????? Also on their website Tether has a separate tab for Law Enforcement Requests, (they get so many that they put a separate tab? also a red flag).
What I also found interesting is that there is no mention of what banks the funds are being held in.  No mention of any deposit insurance, because it is not a bank nor a member of the Federal Reserve. (also a red flag).  Finally, and most disturbing is the close connection with Bitfinex exchange.  This all is a recipe for a disaster.  The US government signaled last week (?) in Senate hearings the intent to begin regulation of the crypto space.  The good news, regulation means legitimacy.  The bad news,  Crypto exchanges and holding companies will be regulated.  

So, if I were your banker and I told you I just fired my auditor but here is a piece of paper I signed stating I have your money would you believe me or would you find another place to hold your money?

Caveat Emptor!

You make a very good point. I always looked at USDT as a great way for people who are taking their first steps in daytrading. Trading Bitcoin/USDT is kind of easy to grasp due to the 'normal' numbers.

A lot of people get easily confused by all the zero's when trading BTC into something else.

Guess it is a good thing to keep the concerns you mention in mind. Better change the USDT back into something else before going to sleep.

You got a 9.09% upvote from @ipromote courtesy of @ddangerwu!
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That's why I prefer bitUSD and bitCNY for stable currency.

orly

hahaha this is good 1/3 of my money is in ustd

Thank you for sharing
Very informative

USD tether delighted to the summary of present which acts as timebomb because of not for cashout ...for why i think BitUSD is well than others...
@upvoted @resteemit

I agree tether is a scam timebomb...