1. So someone sells (potentially) worthless Tether for Bitcoin, ok.
2. But who is selling his Bitcoin for Tether in these volumes? Miners need to sell for cash to finance their operations.
I suspect there are exchanges where the BTC/USD pair does not exist, only BTC/USDT (Bitmex comes to mind).
In which case, if you want to trade in and out of BTC/USD, Thether isyour only choice.
I'd love to hear if people can easily withdraw actual USD from semi-shady exchanges such as BitFinex, Binance, etc...
[edit]: and I agree with you, I wouldn't buy a USDT even if my life depended on it.
I suspect there are exchanges where the BTC/USD pair does not exist, only BTC/USDT (Bitmex comes to mind).
In which case, if you want to trade in and out of BTC/USD, Thether isyour only choice.
I'd love to hear if people can easily withdraw actual USD from semi-shady exchanges such as BitFinex, Binance, etc...
[edit]: and I agree with you, I wouldn't buy a USDT even if my life depended on it.