Tether's value is only equal to the actual US dollars they have in the bank. Does anyone really believe they have US2.25B sitting in some bank? No auditor believes this as their latest "auditor" just denounced involvement. Make sure to run your charts with USD and not USDT to get true value. Find a way to convert money on the sidelines to real fiat.
I wanted to capture a snapshot of current large holdings of tether. In a couple days we can look again and see who's balances have depleted to prop tether back up again. Top USD₮ Balances Last Updated:Jan 28 07:09 PM UTC Address Balance Last Movement (UTC) Remark 1DUb2YYbQA1jjaNYzVXLZ7ZioEhLXtbUru 405,828,615 Jan 28 06:14 PM Bittrex 1FoWyxwPXuj4C6abqwhjDWdz6D4PZgYRjA 361,290,267 Jan 28 06:14 PM Binance 1HckjUpRGcrrRAtFaaCAUaGjsPx9oYmLaZ 353,139,311 Jan 28 06:14 PM Huobi 1Co1dhYDeF76DQyEyj4B5JdXF9J7TtfWWE 270,000,000 Dec 21 '17, 06:14 AM Poloniex 1KYiKJEfdJtap9QX2v9BXJMpz2SfU4pgZw 162,952,288 Jan 28 06:14 PM Bitfinex 12uhUkxpwkD2LGzKHUywoknoJ3fC9vev1x 82,862,390 Jan 26 09:03 AM Binance 1ApkXfxWgJ5CBHzrogVSKz23umMZ32wvNA 73,766,877 Jan 28 06:14 PM OKEx 1Po1oWkD2LmodfkBYiAktwh76vkF93LKnh 47,792,844 Jan 28 06:14 PM Poloniex 16tg2RJuEPtZooy18Wxn2me2RhUdC94N7r 30,950,000 Nov 27 '17, 06:02 PM Quarantined 12aGp6kiy6pmv2pVYfAHq8BuurK78iCMXn 24,552,163 Jan 28 06:14 PM 1LAnF8h3qMGx3TSwNUHVneBZUEpwE4gu3D 20,137,577 Jan 28 06:14 PM Huobi 1DGUWy6N6iHTpussbSP8XrK96tZgDboiWK 17,000,000 Jan 28 06:14 PM Liqui.io 3GyeFJmQynJWd8DeACm4cdEnZcckAtrfcN 16,759,068 Jan 28 06:14 PM Kraken 1ENVTkd9f5KUkvcKSutiJwdBVPgaPh6ihT 6,419,079 Jan 28 06:14 PM 19E4KNqomZhoQXGSa7pauCyFiPMrQcryUe 6,118,560 Jan 28 04:10 AM 17ScKNXo4cL8DyfWfcCWu1uJySQuJm7iKC 4,263,555 Jan 28 06:14 PM 1DcKsGnjpD38bfj6RMxz945YwohZUTVLby 4,254,417 Jan 28 06:14 PM Gate.io 1NixD7q2yJgTgVB2MwGMuJ8vmDhKH5t5bf 4,130,989 Jan 28 06:14 PM 13fE9SgzCg9ztipHDKKD7Hsf8BykVV87fp 3,519,591 Jan 28 05:18 AM 1GNDHyjxmwo63h7u3isyycjfM7EyhYT3HG 3,356,897 Jan 24 03:14 AM
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And capture the current balance sheet: USD₮ Total Assets $2,278,665,722.36 Liabilities (Tether in Circulation on Omni) Total Authorized $2,250,000,000.00 Less: Authorized but not issued - $960,153.48 Less: Quarantined Tether - $30,950,010.00 Liabilities (Tether in Circulation on Eth) Total Authorized $60,109,970.00 Less: Authorized but not issued - $108,983.00 Total Liabilities $2,278,090,823.52 Shareholder Equity $574,898.84
Grant Tokens 0fbf16c7b937a8a5601ade7897c69bc33f1836b9cb02b181... 1/20/2018 1:56:59 AM 100000000 TetherUS (#31)
Grant Tokens 4543c62de3c535087fe10d6798fc3f77bb9904637b287bc7... 1/19/2018 1:08:11 PM 100000000 TetherUS (#31)
Grant Tokens 0c83e7856c6b565341b85332b1f821a402a84aaf236b54ab... 1/18/2018 4:02:00 PM 100000000 TetherUS (#31)
Grant Tokens b182888725cff4486d4080cf04736ab0d2250a78a02948cf... 1/17/2018 7:18:53 PM 100000000 TetherUS (#31)
Grant Tokens 3691adbbe8342f6fde7bc549fcb0991decbe3bd040d01d87... 1/16/2018 10:22:53 PM
100000000 TetherUS (#31)
Grant Tokens c9fca1a9ce81e58505f07c2230170524d3f3fa5f185a05a4... 1/15/2018 1:02:39 PM
100000000 TetherUS (#31)
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Volume tried to move price back to $1 but fell back down as soon as pumping stopped. omniexplorer.info/lookupadd.aspx?address=3MbYQMMmSkC3AgWkj9FMo5LsPTW1zBTwXL is down so unable to see the "transparency". Proof of funds on website show holdings of 442M on Sep 15, 2017 which was the market cap at that time, but nothing new showing proof of the current 2B++ current market cap. All major exchanges are reducing their holdings of tether at wallet.tether.to/richlist I remain skeptical.
Keep skeptical, and watch Tether become the future Dollar, a better USD than the current shady Fractional Banking System.
realstep
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@ubacilio, if tether was to become the future dollar it would have to unpeg from the dollar and stay around the current buying power of US dollar while the USD loses it's value. That could happen with major bad event in US. Would also require easier entry into crypto as it's too difficult now. Good comment.
SamuelBob
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I saw tether as a safe port to save the money during a recession of the whole cripto market. When holding many different coins it is expensive to turn they all in fiat and then whe a new bull run start, move back to cripto. Is there another stable coin like tether? Someone should create a coin based on real stuff like gold, oil??, land or fiat.
realstep
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@SamuelBob, I think it's fine to use tether as long as you understand the risks. It's important to understand that it can fluctuate with regards to USD for example, recently it was 2% lower so that affects the actual trading value. The other risk is that there currently is no proof that it's backed by USD, so it could drop quickly on a very negative event. As long as you understand these risks, USDT could be a good vehicle for short term trading but not HODL of course.
I heard about a gold backed crypto that looks promising but have not investigated it deeply: DigixDAO (DGD)
HorseyTim
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It looks like the volume of tethers is rising on the daily chart. Not good. It needs to be small or the impact it will have on the crypto market will be massive.