Quote from: TOPBILL on January 07, 2018, 06:27:01 PM

Quote from: SteelHead on January 07, 2018, 12:27:34 PM

Be VERY CAREFUL Trading on Binance right now...conversion in trading area from BTC to USD is WAYYYY off. I just made a killing because peeps were not paying attention. I only have noticed this on one coin but would suspect it is on others.
Make sure u use the BTC price

They were paying attention. Tether is not real USD and can have a supply and demand issues when BTC takes wild swings on an exchange. It's goal is to be EXACTLY $1 but that never happens. https://coinmarketcap.com/currencies/tether/ Sellers are sometimes forced to trade with a 10-15% hit but they just swap into another coin that also has a 10-15% discrepancy. They balance out as the discrepancy can be across all the coins but then slowly corrects with time. When BTC quickly jumped to almost $20K people tried to convert to USDT but there was a massive shortage on exchanges. They took massive hits and Tether shut down for many hours so you couldn't even cash out.

Holding Tether is very risky. You have to realize you're taking a calculated risk when converting to it. Most likely 100's millions of fraudulent Tethers are being used for margin lending, BTC price manipulation and fake transactions. Someday it will be headline news.

Agree 100% on the Tether...used it once on a small trade until I did some investigation. Tether has got to be the worst executed idea (which is a good one) in Crypto. Their collusion with Bittfinex may cause a crash bigger than Mt Gox X 10 BS.

I was trying to say the USD equivalent next to the BTC amount in the trade fill box was way off, like $2 each off and u could tell from some orders being placed that traders (I use that loosely) were thinking they were getting a deal on the trade which indeed was really $2 higher per coin. I did a conversion when I spotted it and threw a couple K at it and did very very well Wink

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