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

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Two simple ways to protect your Net Value in case of a Bitcoin Crash

in bitcoin •  8 years ago  (edited)

How about shorting the Bitmex perpetual future contract ?

Didn't think of including Tether (USDT) ?

bitcoin
8 years ago by

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      ·  8 years ago 

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

    there is no safety in USDT

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      ·  8 years ago 

    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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      [-]
        ·  8 years ago (edited)

      Explained in my comment, complete with citation of a source. It's a sham.

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        [-]
          ·  8 years ago 

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

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          [-]
            ·  8 years ago 

          Have you read Tether's terms of service? 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.

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              ·  8 years ago 

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

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              ·  8 years ago 

            Agreed about the insanity. No one ever reads the ToS... We've all been very effectively conditioned not to.

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