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Technology Tether: Serious competition for the crypto-veteran Bitcoin?

11:20  31 july  2020
11:20  31 july  2020 Source:   finanzen.net

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Tether converts cash into digital currency, to anchor or tether the value to the price of national currencies like the US dollar, the Euro, and the offshore Chinese yuan. Money built for the internet. Whatever you can do with digital currencies, you can now do with digital cash.

Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin .

Instead of the ancient crypto rock Bitcoin, another digital currency could make the breakthrough on the mass market, an expert believes.

Ralph Orlowski/Getty Images © Provided by Finanz.net GmbH Ralph Orlowski / Getty Images

• Messari shows how Bitcoin dominance is declining

• Stablecoins in investor focus

• Tether on the way to the top?

In his Q2 stablecoin review, Ryan Watkins from crypto data expert Messari takes a close look at the transaction value of various cryptocurrencies and comes to a surprising result.

Will Tether Bitcoin soon rank out?

, in his view, the oldest cryptocurrency Bitcoin should no longer be able to defend its dominant position in the blockchain world for long. "USDT alone could soon surpass Bitcoin as the dominant currency for public blockchains," said the expert in his analysis.

Surrey RCMP warn of scammer posing as cop, border agent demanding Bitcoin

  Surrey RCMP warn of scammer posing as cop, border agent demanding Bitcoin A scammer appears to be calling Surrey residents, posing as an RCMP officer or a Canada Border Services agent to demand payment in exchange for waiving what they claimed were criminal charges. Surrey RCMP said the scam has been prolific in recent weeks, with five reports received in a 24-hour period on Tuesday. “In these cases, the complainants said the caller(s) claimed to be a RCMP or CBSA officer and requested a sum of Bitcoin,” read a statement issued by Cpl. Joanie Sidhu with the Surrey RCMP. In each case, the scammer allegedly told the victim there were pending criminal charges against the victim but that they would be waived if payment was made.

Following Bitcoin , Ethereum based Tether coins were launched as well. The Tether peg is maintained through collateral, meaning for By far, the most common method of buying USDT is to exchange it for another cryptocurrency. For the full list of USDT crypto markets, check out CoinMarketCap’s list.

Summary: Tether is a useful replacement for a dollar in the crypto economy. Again though, Tether mimics a dollar, not a Bitcoin even though it is built on blockchain-based software. What if the liquidity provided by Tether was vital for the crypto boom and helped ensure it in a natural way by

Watkins points to the strong growth in the value of the Tether transactions against the background that the entire base of stablecoins grew massively in the first half of the year: In the first quarter alone, the monetary base increased by $ 2.4 billion in the second went up another $ 3.8 billion, the researcher said. The total is now $ 12 billion.

Tether could be the first stablecoin to make it to $ 10 billion.

In absolute terms USDT contributed the most by far, growing $ 3.5 billion, and became the first stablecoin to breach the $ 10 billion mark.

However, the fastest growing stablecoin relatively was sUSD, which benefited from the growth of DeFi, Synthetix, and a low starting base. pic.twitter.com/6fHaxHH2Ra

- Ryan Watkins (@RyanWatkins_) July 20, 2020

Scammers posing as police officers steal thousands of dollars in Bitcoin, Strathcona RCMP warns

  Scammers posing as police officers steal thousands of dollars in Bitcoin, Strathcona RCMP warns Fraudsters posing as police officers and swindling thousands of dollars worth of Bitcoin have prompted warnings from Strathcona RCMP. Mounties are investigating scams where two victims each lost more than $10,000 and $20,000 after being threatened with arrest, or told their private information was compromised. “There is no circumstance where police will contact individuals requesting Bitcoin,” Const. Chantelle Kelly with Strathcona County RCMP said in a Friday news release. “These scammers typically contact hundreds of people hoping that someone will send them money.

Tether is the first stablecoin to be created and it is the most popular stablecoin used in the ecosystem. It has the largest stablecoins by circulation and market capitalization. Tether Limited acts as a third-party custodian for the fiat currencies backing USDT.

🤓 In this video, I discussed the recent news surrounding Tether (USDT) and Bitfinex, one of the largest crypto exchanges in the world. As a result, this could be manipulating the value of Bitcoin and could have serious repercussions on the value of various cryptocurrencies if it were to collapse.

In addition, Tether would also come closer to Bitcoin in terms of daily transaction value. Overall, stablecoins are well on their way to reaching a transaction volume of $ 508 billion in 2020, which would amount to a doubling compared to the previous year.

Why Tether benefits particularly

The fact that Tether, of all things, could outstrip Bitcoin as a stable coin is at least surprising, because the cryptocurrency is one of the least volatile assets on the market for cyber currencies. - Trade Bitcoin with Plus 500 - how it works. 80.5% of retail CFD accounts lose money. - Every Tether token - at least in theory - should be deposited with a US dollar. You might also be interested in: NOW NEW - Bitcoin & Co. trade via the finanzen.net app - or for professionals via the Stuttgart Digital Exchange

Many investors therefore use the stablecoin to quickly convert from US dollars to various other cryptocurrencies to be able to switch and vice versa. This avoids high exchange fees, and investors can react quickly and flexibly to current market developments.

In particular against the background of the corona pandemic, which was supposed to be cushioned by a flood of liquidity from the central banks, but at the same time raised inflation concerns, Tether was able to benefit from increased demand on the part of investors.

editorship finanzen.net

Bitcoin grows strongly and temporarily surpasses the $ 10,000 mark .
Bitcoin, the largest cyber device in the world by market capitalization, is rising strongly on Sunday. © Provided by Finanz.net GmbH Hannelore Foerster / Getty Images The Bitcoin jumped to $ 10,118.44 on Sunday afternoon in the previous day's high. Previously, it had mostly hovered around the $ 9,700 mark. You can trade directly in the finanzen.net app via BISON Bitcoin and Co. Here you can buy and sell Bitcoin, Ripple , Ethereum and Litecoin in the usual environment and design of the finanzen.

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