Quote from: mmortal03 on April 21, 2017, 07:33:07 AM

Quote from: Rockie1234 on March 01, 2017, 06:16:05 PM

Quote from: traderMax on March 01, 2017, 10:54:32 AM

USDT's price is consistently adjusted to be equal to 1 dollar. Users at poloniex.com use this instead of dollars.

How do they make the USDT equal to 1 dollar I wonder?
Are they also used in other places than poloniex.com? Are there other platforms we can trade USDT?

Since Poloniex runs Tether, it is not traded on any other exchange. They peg the price presumably by trading in the right quantities. The reason they made it was so users could save their cryptocurrency profits in a currency which was guaranteed to be stable. (Let's say you left your profits in litecoin and the price went down, you would lose money).

Poloniex doesn't run Tether.

Nor do they guarantee that it won't be completely worthless ever, I've asked them.

So has anyone lately actually cashed in USDT for USD?
My trust for Btfinex is a zero and I took a loss to just get rid of usdt,
Funny thing is I decided to use etc (for the first time ever) right before it spiked. But I exchanged the etc for XMR to early and missed the spike. DOH!