Not saying this is the definitive de-pegging, just getting very nervous watching this unfold. Watch USDT/USD for yourself live here -> https://trade.kraken.com/kraken/usdtusd/15m
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Is anyone familiar with alternative stable coins to use instead?
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none which have the same level of liquidity as tether unfortunately... i should do a post on stablecoins at some point... in the meantime here's a good link going over the basics of the space https://multicoin.capital/2018/01/17/an-overview-of-stablecoins/
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Is this sell a good thing or a bad thing? Should one alarm or having raised a red flag? I'm not sure how to interpret or appreciate this post in lack of more technical information. I'd appreciate if you'd like to clarify me. Thanks
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This is concerning for a number of reasons. It could be temporary of course, but if tether were to significantly drop below 1 we would start to see a price premium develop (like we are now) between "tether" exchanges like poloniex and "fiat" exchanges like gdax.
the worry here is that tether's supply has increased more than 5 fold over the last 3 months, and people are starting to wonder if these tokens are really backed 1-1 by dollars. For a good article and discussion of the topic check out this thread on hackernews: https://news.ycombinator.com/item?id=16252365
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