RE: Two simple ways to protect your Net Value in case of a Bitcoin Crash by transisto

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Viewing a response to: @ash/two-simple-ways-to-protect-your-net-value-in-case-of-a-bitcoin-crash

bitcoin · @transisto · Jul 8 '17 (edited)

$12.92

How about shorting the Bitmex perpetual future contract ?

Didn't think of including Tether  (USDT) ?

👍 transisto, ldauch, shaffikim, randomwhale, mahmoudh

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@ash · Jul 8 '17

$0.11

I'd never use USDT. it's the most unstable and most misguided thing in crypto. 

there is no safety in USDT

👍 ashaman

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@hoodrych · Jul 9 '17

Could you point me to why you think that? I've been around for a little bit but I never quite understood usdt. But I saw last night when everything was red usdt was still holding steady and it had like $90 mil 24hr volume so now I'm a bit curious about it

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@ashaman · Jul 11 '17 (edited)

Explained in my [comment](https://steemit.com/bitcoin/@ash/two-simple-ways-to-protect-your-net-value-in-case-of-a-bitcoin-crash#@ashaman/re-ldauch-re-transisto-re-ash-two-simple-ways-to-protect-your-net-value-in-case-of-a-bitcoin-crash-20170711t051456869z), complete with citation of a source. It's a sham.

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@ldauch · Jul 9 '17

I agree USDT is as good an option as any. I believe its owned by a Singapore bank as well?

👍 ldauch

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@ashaman · Jul 11 '17

Have you read Tether's [terms of service](https://tether.to/legal/)? To quote from them
>Tethers are not money and are not monetary instruments. They are also not stored value or currency.
There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money. There is no guarantee against losses when you buy, trade, sell, or redeem Tethers.

👍 ldauch

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@ldauch · Jul 11 '17

$0.07

This is insane. Good find Ashaman. I'll have to go back and adjust my post on this.

👍 ashaman, ldauch

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