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Offline fluxer555

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Tether -- USD on the blockchain backed by bank account
« on: February 18, 2015, 05:50:10 AM »

Friend or Foe?
What real advantages does BitUSD have over Tether?
What real advantages does Tether have over BitUSD?
How can we work together?
Where will we compete?

Offline xeroc

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Re: Tether -- USD on the blockchain backed by bank account
« Reply #1 on: February 18, 2015, 08:05:28 AM »
if you search for tether by google you fail finding a crypto currency .. 0:1 for bitshares :)
there is a company developing some software behind closed doors .. 0:2 for bitshares :)
only beta access available as of now .. 0:3 for bitshares
Quote
Tether currency is backed 100% by actual fiat currency assets in our reserve account and always maintains a one-to-one ratio with any currency held. For example 1 USD₮ = 1 USD.
lol woot? ... 0:4 for bitshares
people heard about it before the launch and marketing seems better ... 1:4
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Offline bitmeat

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Re: Tether -- USD on the blockchain backed by bank account
« Reply #2 on: February 18, 2015, 08:39:30 AM »
Poloniex is now displaying USDT as the main USD. What a missed opportunity, it could've been BitUSD.

Offline xeroc

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Re: Tether -- USD on the blockchain backed by bank account
« Reply #3 on: February 18, 2015, 08:43:34 AM »
Poloniex is now displaying USDT as the main USD. What a missed opportunity, it could've been BitUSD.
seriously?
So why the hell they trade BTS again?
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Offline Rune

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Re: Tether -- USD on the blockchain backed by bank account
« Reply #4 on: February 18, 2015, 12:48:25 PM »
Poloniex is now displaying USDT as the main USD. What a missed opportunity, it could've been BitUSD.

It couldn't. BitUSD would have to have a highly liquid bitUSD/USD market for this to be feasible. We're still far from that.

Offline Empirical1.2

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Re: Tether -- USD on the blockchain backed by bank account
« Reply #5 on: February 18, 2015, 02:13:01 PM »
Friend or Foe?
What real advantages does BitUSD have over Tether?
What real advantages does Tether have over BitUSD?
How can we work together?
Where will we compete?

I don't think these types of Assets will gain much traction. Bank accounts can be seized/stopped at any time and or the owners could perhaps take the money.

Only a very big counterparty that had it's assets in multiple traditional safe haven jurisdictions plus other protections could be mildly popular.

Decentralised BitAssets with good liquidity and gateways are far superior.
If you want to take the island burn the boats

Offline yellowecho

Re: Tether -- USD on the blockchain backed by bank account
« Reply #6 on: February 18, 2015, 05:28:21 PM »
I view them as a friend.  Read the first few comments here:  https://bitsharestalk.org/index.php?topic=14318.0

Gateway potential  8)
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