Bitcoin Price Discrepancy - USDT & Wells Fargo Issue

Discussion in 'Digital Currencies' started by BuggedOut, Apr 21, 2017.

  1. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    Just an alert for members to beware of a current issue with USDT - The digital blockchain currency called "Tether" which is supposed to be 1:1 exchangeable for US Dollar Fiat.

    Some of the big exchanges like Poloniex and Bittrex quote the Bitcoin price as BTC/USDT which is NOT the same thing as BTC/USD. Apparrently Tether is having some issues redeeming USD and so it is only exchanging currently at about 0.94 USD which is skewing out the price of Bitcoin (and others) on some of these crypto only exchanges.

    If you look closely you will see a $50 to $60 difference in the quoted bitcoin prices on exchanges due to this issue with USDT.

    http://bitcoinist.com/bitcoin-trading-at-a-premium-on-bitfinex-and-poloniex/
     

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