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USDT/USD to trade below 1.1 on 25.07.18

USDT/USD to trade below 1.1 on 25.07.18
Category:
Bitcoin
By
d_d
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Description

the bet on the USDT/USD exchange rate.

USDT is supposed to be worth 1 USD, but that's not always the case...

Decision Logic

if the low of the day for USDT/USD pair on 25/07/18 is lower than 1.1
this bet resolves as YES, otherwise it resolves as NO.

https://wex.nz/exchange/usdt_usd will be used as the price source.
if WEX is unavailable, https://coinmarketcap.com/currencies/tether/ will be used as the price source.

//.Admin Edit Jul 23 - USD/USDT changed to USDT/USD

1952
CLOSING IN2018-07-25 14:00:00

1:56AM, Jul 23, 2018 UTC

2:00PM, Jul 25, 2018 UTC

12:00AM, Jul 26, 2018 UTC

RESOLVED AT 5:38AM, Jul 26, 2018 UTC

Total Volume: 0.0312

This bet has been resolved!

The outcome was "No"

0.03122026 was split between 4 bettors.
YES
Volume:0.0034
0.00394711
# of Bets:6
NO
Volume:0.0278
0.02905526
# of Bets:4

Discussion

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nsob 5:52AM, Jul 26, 2018 UTC
I don't see any ambiguity on the decision logic, which was stated clearly.
d_d 11:28PM, Jul 25, 2018 UTC
finally there is also a third scenario of USDT/USD steadily climbing and staying above 1.1 on coinmarketcap for some odd reason. Obviously it never happened before, but it theoretically can in the future.
d_d 11:08PM, Jul 25, 2018 UTC
Technically it is still a working exchange as long as one can see BTC/USD, USDT/USD, ... charts in real time. WEX was clearly mentioned as the main source n the decision logic and also in the tags section. I agree that NO always was a favourite but there were two scenarios where "YES" could actually win: 1) sudden normalization with withdrawals 2) wex going offline.
Avalon 10:45PM, Jul 25, 2018 UTC
@d_d if every exchange is trading below 1.1 except a site that can't really be called an 'exchange' from any functional perspective, do you not see the issue? It looks like this bet may have to be cancelled due to ambiguous decision logic (the two sources provided have fundamental conflicting information).
d_d 1:48PM, Jul 25, 2018 UTC
Lexi1414, as you rightly mentioned btc-e (former wex) survived the FBI raid, although many believed that it would simply disappear. if you want to cancel your bet, 0.0008 can be placed on the opposite side.
d_d 1:16PM, Jul 25, 2018 UTC
well, of course, wex is a shady exchange! that's why it can go offline basically anyday. it can also miraculously restore withdrawals so that usdt/usd rate quickly drops back to the fair value. (as it was promised by them in twitter a few days ago). In the end of the day either outcome is uncertain.
Lexi1414 5:53AM, Jul 25, 2018 UTC
Look at the chart on wex you obviously see we can't go under 1.1 even in the monthly. I saw BTC to 9k+ on this site already. Facts claimed this site has been charged by the FBI for fraudulent activities some time ago
Lexi1414 5:50AM, Jul 25, 2018 UTC
USDT USD is known to be pegged to 1 dollar and it should only be slightly up or slightly down. 2 USD for tether is scam from wex and the creator of this bet. This bet should be dissolved.
praine 4:57AM, Jul 25, 2018 UTC
Just checked out wex.nz. What the hell is up with these prices? You sell one USDT and get 2.12 USD? I guess it's nearly impossible to withdraw fiat if people are willing to trade it in for less than half of its value in crypto. This bet seems like a trick.
Lexi1414 10:38PM, Jul 24, 2018 UTC
It will only be proper to use the popular coinmarketcap as the price source, otherwise...
Lexi1414 9:31PM, Jul 24, 2018 UTC
Ridiculous, the wex price is different
d_d 3:07PM, Jul 23, 2018 UTC
@nsob if WEX goes offline decision will be based solely on the data taken from the coinmarketcap.com
Avalon 2:44PM, Jul 23, 2018 UTC
Updated title and decision logic based on the source criteria.
nsob 8:59AM, Jul 23, 2018 UTC
The image is misleading, since it comes from coinmarketcap while the decision logic is based on wex (which has a completely different graph)
d_d 2:13AM, Jul 23, 2018 UTC
it should be read as USDT/USD in the title, description and decision logic.

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