Post
Topic
Board Speculation
Re: Bitcoin pump on binance. Already cross 7.5K USDT
by
talkbitcoin
on 15/10/2018, 08:26:08 UTC
the sign you used in your post ($ sign) is called dollar sign and generally it is used for United States dollar. but the number you are reporting is not USD valued. it is Tether value!

in other words 1 bitcoin is worth 7200 Tether which is equal to about 6500 US dollar.

I'm a bit puzzled about this...
Bitfinex is showing 7200 (right now) and those are $ not USDT , are they using USD for their tether?



We're going to have another gox?

i believe it is because of the old design that they never changed. before Bitfinex started having trouble with their banks last year, they used to have active fiat (USD) markets and small tether on the side. but when the problems began they turned everything into Tether and since they are the creator of Tether too and want to convince the world 1 USDT = 1 USD without implicitly saying it they never changed things in their platform.