Altcoins News
By Steven Anderson
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Cryptonites asked: As of today, Tether has higher trading volume than Bitcoin. Obviously, may be for multiple reasons, would love to hear your thoughts.
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Why did you guys create it? What problems do you solve? And, if you don’t mind telling us why is the interest high these days?
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Paolo Ardoino: Tether was born to solve one simple problem. It is that the Bitcoin space was not very efficient.
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You cannot have funds that are stepping in to a market that is so difficult to arbitrage, because first of all the only way to do arbitrage is to send Bitcoin on one side and…
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So, this group of guys behind Tether started with the base idea of how we can create the same value of the dollar that has the same settlement speed like Bitcoin.
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These group of guys were like why we don’t try to do it. And, Tether started like that and the first two years was quite hard.
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And, Poloniex was the first exchange that added Tether and added Tether pairs and that created the first real arbitrage opportunity between Bitfinex and Poloneix.
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