I want to bet that Tether doesn’t crash

I’ve had it. All these years conspiracies, people that have no idea about crypto and other sheep blindly repeating what they heard that usdt is a scam including their mom, my mom and what not.

The only stable that has proven reserves. They even don’t get that the money instruments they were using were generating yields. They don’t understand that they got money from all exchanges. That exchanges bet their reputation on Tether because they fucking know its backed. That Tether never lost peg because people that know are buying it on arbitrage when it dips. Nobody can understand that Tether also burns money etc, they never read the white paper and have no clue of elementary math.

I want to short these people’s opinion!

So, can I at last put my money where my mouth is and somehow bet that Tether will not depeg for example some years or something? In which platform can I do it or is there another way? I could of course buy it everytime it dips but that’s very little %.

Since I have a massively different opinion (risky) vs the market and everyone else it sounds like I should be compensated right? Big! Either that or the market doesn’t really factor in the risk and it’s just a bunch of reddit kids and totally irrelevant ny times writers.

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27 thoughts on “I want to bet that Tether doesn’t crash”

  1. What? No.
    > In 2014, Tether used to state that “Every tether is always backed 1-to-1, by traditional currency held in our reserves.”
    In Feb 2019, this text had changed to “Every tether is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, ‘reserves’) .
    > Tether’s lawyers in 2019, had themselves accepted back in the day that Tether is only 74% backed and that the 100% backing was a lie
    > Tether had no comments on why money was being moved between Bitfinex and Tether accounts which was apparently used to hide a cover up of $850 million
    > We all know about the audit problems.

  2. > of course buy it everytime it dips but that’s very little %.

    Do it with leverage then. Be careful that a bigger dip before the repeg would liquidate you, but you could set a ladder of order with increased leverage. Or maybe you can find some options market for theter.

    Or you guess you can convert your net worth in USDT and lend it to shorters collecting their APR on any lending DeFi platform or exchange.

    You have a strong opinion but it’s really clear what it is: do you think that tether won’t hard depeg, or do you think that if it does, it will eventually recover? In the first case, swing trading with degen leverage may work, in the second case you can lend. If you really like to burn money, go leverage lending

    Obviously I strongly disageee with that kind of move as the upside potential of a stablecoin is hardly limited while the downside is unlimited. This risk asimmetry is why you see many people looking for short plays. Even if you are right, there’s no much speculation to do when you’re bullish on a stable that’s already pegged, or else it would be a free money glitch if you think about it. Even in an ideal world, there’s no value to extract from a pegged asset that is worth exactly how much it’s supposed to do. Just downside potential due to counterpart risk and volatility.

  3. Bro, if they were backed 1 – 1 with dollars (or respectable cash equivalents) they’d just get audited and prove it. They haven’t. That proves all you need to know.

  4. Tether doesn’t need to be fully backed to work, they just need enough money on hand to buy back their stablecoin as the overall crypto market cap shrinks and so demand for stables declines. The exchanges will help to keep Tether afloat cos they need Tether. Real problem is if the exchanges run out of money.

  5. I mean the entire Tether debacle is dependent on Tether lying about their reserves. If they aren’t then they can’t collapse.

  6. I have some on ascendex at currently 8% interest and it’s my best investment to date lol. Here’s to hoping it doesn’t collapse.

  7. I mean if you have millions you can make a few thousands by buying at depegged prices.

    No other way seems to occur to me

  8. Tether will crash once their market cap is low enough.

    At some point they will not be able to exchange USDT for real dollars because they have none left and then the de-peg happens.

  9. Proved their reserves? What? They have absolutely done no such thing. They have done the opposite and lied over and over again about their reserves, and now admit they lied. They have NEVER been audited although they have claimed they will see on for 5 years. They have only had attestations, which are not audits.

    Tether is as anti-bitcoin as it gets. If you’re a tether fan, don’t pretend to beleive in p2p decentralized cash.

  10. I want to bet it does! hmm maybe we can reach accord, if only there was some sort of way we could do trustless smart contracts!


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