This Tether thing has gotten me very concerned as well.
What is also surprising is that SBD is trading so high. I've got a theory that this is because people are looking for an alternative stable-coin other than Tether because of these uncertainties and rumors, and this may be the cause of the increased demand causing SBD to be traded for much higher than $1 (oddly enough, for a stable-coin).
I think you've hit the nail on the head with respect to what we're seeing in SBD.
Fun fact.. I was plotting the MACD divergence prior to each crash and get the following:
558
470 (.84) $3,000 --> $1700
1325
1164 (.87) $5000 --> $3000
1992 (.86) $7500 --> $5400
1715
3023
3735 (.80) $ 11800 --> ?????? (Where we are now)
In each preceding crash/pullback we were around .85. We are currently at .80 without a 3 day MACD cross over since the $5400 drop. So I'm thinking this one will be particularly interesting.
If so, then something sinister is coming and those 'in the know' are likely willing to accept paying a high premium if they know it's going to lose them less than keeping it in Tether/BTC/other.
true
Good point. What about Bitshares’ USD pegged assets?
I think you're cool if you're on BitShares. There's no counterparty risk. Everything is 100% backed by its equivalent that goes into a smart contract when the funds come on board. For every bitUSD, there's a real USD in a smart contract. Same thing for everything "Bit" that's traded on BitShares, as I understand it (correct me if I'm wrong; likewise, please confirm it if I'm right).
If there is a blow-up with Tether, unlike the centralized exchanges that could get hit hard, BitShares wouldn't feel a thing. That having been said, all holders of USDT, and related, would get hit. The big difference is that the exchange wouldn't be compromised, again, as I understand things.
Yes that’s how I understand it as well. So given that, why wouldn’t everyone be tethering to bitUSD instead. Is it just not traded on exchanges outside of bitshares?
I haven't looked at them yet