Recently, the battle for the lead of stable coin in Crypto ecosystem is a central issue here!
Some guys, including leading opinion maker in Korea, see it as a reason of deliberate downturn of Bitcoin.
However, Bitfinex declared Tether neutrality as of November 27th.
What it means here,
Bitfinex, which shares(?) CEO with Tether, has traded all USD-pair trades up to date with USDT.
but now they declared all balances will be shown in USD fiat. USDT balance will be added, and it is now different from USD fiat balance.
Some see this as Tether's giving up a $ 1 pegging guarantee, but NOT AT ALL. (I will explain later)
By declaring the tether neutrality, now they are possible to open another stable coin paired market
(In the notice, Bitfinex mention Ether based Dai, not TUSD, USDC, etc., which are attracting most attention recently)
If you have tether balance in Bitfinex, the balance you have until 11:30 pm on November 27, 2018, will be replaced by a USD fiat balance (!!!)
(Currently, Tether is trading at a little less than $ 1 for $ 1 guaranteed reliability problem. So you see the chance of making money?)
USD in the Bitfinex is now USD fiat. Tether deposited after the time is USDT balance.
On the other hand, as I said earlier, Bitfinex did not give up Tether's $ 1 pegging,
Tether.to continues to provide bank withdrawal service.
Lots of folks making FUD to Tether's 1 $ Guarantee or worrying about it. The anxiety of these people can give me a lot of profit .....
--I will attach original announcement notice.
Today I will finish the post just with the announcement of Bitfinex, will be followed by a post about what Bitfinex is going to do and what we should do to WIN THE GAME.
I will continuously upload regarding the Crypto ecosystem and fiat battle, bitcoin price, BCH-BSV war, and Dapp analysis. Also follow my account for more posts