This is why Bitcoin Cash wins and the BlockStream/Lightening Network loses.

READ: Why The CryptoCurrency Markets Will Replace Banks

USDT is a pegged cryptocurrency.

Its value is pegged directly to that of the US Dollar. Tether, the company responsible for issuing USDT in circulation, keeps the US Dollar equivalent of all USDT value in reserves at all times. Otherwise, they could never guarantee the value of one USDT being equal to US$1.
Tether has run into some banking issues a while ago. The company uses a Taiwanese bank to receive and send out USD withdrawals. Unfortunately, that bank raised some issues, resulting in the company being unable to convert USD to USDT and vice versa. This forced users to rely on third-party exchanges to complete this conversion process. At one point there was a 7% fee to do so, resulting in one USDT being worth only US$0.93

December 1, 2017 CFTC Gives Official Go-Ahead for Bitcoin Futures. Let the Big Short gambling begin again.

Advertisements

About Educational CyberPlayGround, Inc.®

Educational CyberPlayGround, Inc. strives to help Teachers, Parents, and Policy Makers Learn about: Music, Teaching, Internet, Technology, Literacy, Arts and Linguistics in the K12 classroom.
This entry was posted in NetHappenings. Bookmark the permalink.

What do you think?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s