大家好，我是你们的老朋友子航说币。子航资深币圈达人，从事数字货币领域分析数年，实战经验丰富，欢迎点赞关注相互交流学习！
Hello, I'm an old friend of yours, Mr. Kobayashi. He's been in the field of digital money analysis for years. He's had a lot of experience in the field of real warfare.
一、USDT简介
I. Introduction to USDT
USDT是Tether公司推出的基于稳定价值货币美元（USD）的代币Tether USD（下称USDT），1USDT=1美元，用户可以随时使用USDT与USD进行1:1兑换。Tether公司严格遵守1:1准备金保证，即每发行1个 USDT代币，其银行账户都会有1美元的资金保障。
USDT is Tether USD (hereinafter USDT), a proxy introduced by Tether based on a stable value currency of the United States dollar (USD), and 1USDT = US$1. Users can use USDT for 1:1 conversion at any time.
用户可以在Tether平台进行资金查询，以保障透明度。用户可以通过SWIFT电汇美元至Tether公司提供的银行帐户，或通过交易所换取USDT；赎回美元时，反向操作即可。用户也可在交易平台用比特币换取USDT。
Users can access funds on the Tether platform to ensure transparency. Users can transfer United States dollars through SWIFT to bank accounts provided by Tether, or exchange USDTs through an exchange.
Tether 公司在《Tether白皮书：一种利用比特币区块链交易的法币代币》中定义 Tether 为：
Tether defined in the White Paper Tether: a French token for trading using the Bitcoin block chain as:
“Tethers，是一种法币挂钩的数字货币，所有 Tethers 都是通过 Omni Layer 协议在 Bitcoin 区块链上以代币形式首次发行，每一个发行流通的 Tethers 都与美元一比一挂钩，相对应的美元总量存储在香港 Tether 有限公司（即一个 Tether 币为一美元）。 凭借 Tether Limited 的服务条款，持有人可以将 Tethers 与其等值法定货币赎回/兑换，或兑换成 Bitcoin。 Tether 的价格永远与法定货币的价格挂钩，其挂钩发币的储存量也永远大于或等于流通中的币量。在技术方面，继续遵从比特币区块链的特点与功能。”
“Tethers, a digital currency linked to French currency, all Teths were first issued as a token in the Bitcoin block chain through an Omni Layer agreement, and each of the circulating Tethers was linked to the dollar at one-to-one, and the corresponding total dollar was stored in Hong Kong Tether Limited (i.e., a Tether currency of one dollar). By virtue of the service terms of Tether Limited, the holder can redeem/convert others to its equivalent legal currency, or convert them to Bitcoin. Tether's price is always tied to the price of the legal currency, and the amount of its deposit-linked currency is always greater or equal to the amount of currency in circulation. On the technical side, continue to follow the characteristics and functions of the Bitcoin chain.”
二、USDT 的特点：
II. Characteristics of the USDT:
1:1准备金保证 1 USDT=1 美元
1: Reserve guarantee 1 USDT = US$ 1
直观：USDT与美元是等值的，1USDT=1美元。每个币种=多少USDT，也就相当于是它的单价是多少美元。
Intuitive: USDT is equal to US dollar, 1 USDT = US$1. Each currency = how much USDT is equal to what its unit price is.
稳定：因为泰达币是由法币支撑的，用户可以在不受多数区块链资产价格波动影响的情况下仍然在区块链资产市场上进行交易。
Stability: Since the tada is supported by French currency, users can still trade in the block chain asset market without being affected by price fluctuations in most block chains.
透明：泰达币的发行公司Tether 声称其法币储存账户有定期审计以确保市面流通的每一枚泰达币有对应的一美元为支撑。储存账户状态是公开的，可以随时查询到。此外，所有的泰达币交易记录都会公布在公链上。
Transparency: Tether, the distributor of the Tidal currency, claims that its French currency deposit accounts are regularly audited to ensure that each of the moneys in circulation on the market is backed by a corresponding dollar. The storage account is publicly available and can be consulted at any time. Moreover, all records of the tadal currency transactions are posted on the public chain.
小额交易费用：在Tether账户间交易或者在储存有泰达币的钱包间交易都不收手续费。将泰达币转换为法定货币时需要收取交易服务费。
Small transaction costs: Transaction fees are not charged for transactions between Tether accounts or for transactions between wallets held in tadal currency.
发行和交易使用 Omni 协议
Use Omni protocol for issuance and transactions
USDT 的发行和交易使用的是 Omni（原Mastercoin）协议，而 Omni 币可以说是市面上的第一个基于比特币区块链的2.0币种，所以USDT 的交易确认等参数是与比特币一致的。
USDT was issued and traded using the Omni (formerly Mastercoin) agreement, whereas the Omni currency was the first on the market to be 2.0 currencies based on the Bitcoin block chain, so that the parameters such as USDT transaction confirmation were consistent with Bitcoin.
三、USDT能干什么
III. WHAT CAN USDT DO?
这应该是大家最为关心的问题。
That should be the most important concern of all.
1.规避整体下跌风险
1. Avoiding the risk of overall decline
币币交易中，常见3种情况，以LTC/BTC交易为例：
In currency transactions, three cases are common, for example, LTC/BTC transactions:
用BTC买入LTC后，BTC和LTC都在涨，你享受两份收益；
After buying LTC with BTC, BTC and LTC are on the rise and you enjoy two benefits;
用BTC买入LTC后，BTC和LTC一个涨一个跌，你的收益取决于两个币种的涨跌幅，那个更大。只有任何一个的涨幅大于另一个的跌幅，就赚。反正，就亏。涨跌幅相等，则不赚不赔；
When BTC buys LTC, BTC and LTC go up and down one by one, depending on the increase and drop in two currencies, which is larger. Only one increase is greater than the other, and the profit is greater. On the contrary, the loss is the loss. The increase and fall is equal, and the gain is no loss.
用BTC买入LTC后，极端行情，两个币种都在跌，你需要承受两份亏损。这往往是最让人糟心的。
When you buy LTC in BTC, you fall in both currencies, and you have to suffer two losses. That's often the worst.
但是有了 USDT，是当币价下跌时，我们可以立刻把币换成 USDT，从而保证你的资产不缩水。
But with the USDT, when the currency falls, we can exchange it immediately to make sure your assets don't shrink.
当然USDT还可以让你手中的币价更直观，因为加你手中的各种币=1234USDT=1234美元。
Of course, the USDT can make your currency more visible, because adding the various currencies in your hand = $1234 USDT = $1234.
2.反向操作 数字货币提现
2. Reverse operations Digital currency withdrawals
自从国内关停交易平台后，法币充值和法币提现成为了各位币圈新老玩家的心头病。实际上，如果国外平台或者国内出海的平台支持USDT，事实上从某种角度解决了这个问题。
Since the domestic cut-off of the trading platform, French currency charging and French coins have become the heartache of old and new players in the currency circle. In fact, if foreign platforms or domestic platforms support USDT, the problem is actually solved from some angle.
充值很简单，USDT公司称投资者可以通过SWIFT电汇美元至Tether公司的银行帐户，或通过Bitfinex交易所换取USDT。
The charging value was simple, and USDT stated that investors could wire the United States dollar through SWIFT to Tether's bank account or exchange USDT through the Bitfinex exchange.
如果你获利颇丰，想要提现。你可以先把手中的币兑换为USDT，然后通过 Tether 公司或其它平台，兑换为美元。当然，国内玩家资金量大，这里还设计外汇管制等问题，这个也可以通过一些第三方公司搞定。
You can exchange the currency in your hand to USDT, and then use Tether’s company or other platforms to convert it to US dollars. Of course, domestic players have a lot of money, and here design foreign exchange controls, and this can be done through some third-party companies.
这里你可以发现，如果你完成USDT公司的认证，在其它不需要认证的币币交易平台，你可以顺畅的玩各种交易并充值提现了，不需要再次认证其它平台。
Here you can see that if you complete the USDT certification, in other currency trading platforms that do not require certification, you can easily play all kinds of transactions and raise them, without having to re-authenticate other platforms.
不过提现流程也不是那么容易。你可以通过 Tether 公司，把手中的 USDT 还给 Tether 公司。Tether 公司销毁收到的 USDT ，发放等值的美元给用户。需要提醒的是，不管是通过电汇美元至 Tether 公司提供的银行帐户以购买 USDT ，还是将 USDT 换回成美元，都是需要完成账户验证的。据了解 Tether 的 KYC 比较难通过，兑换手续费约为5%。
But the current process is not that easy. You can return the USDT in your hand to Tether through Tether. Tether destroys the USDT received and distributes the equivalent dollar to the user. It is important to recall that whether to transfer the dollar to a bank account provided by Tether to buy the USDT or to convert the USDT back to the dollar, it is necessary to complete the validation of the account.
另外还可以通过交易平台如 kraken将 USDT 兑换美元。在 Kraken 平台，选择 USDT / USD 交易对，就可以将 USDT 换成美元。
It is also possible to convert USDT to United States dollars through trading platforms such as kraken. On Kraken platforms, selecting USDT/USD transaction pairs allows USDT to be converted to United States dollars.
四、USDT 存在的风险
IV. USDT Risks
关于 USDT 的风险，Tether 公司在《Tether白皮书：一种利用比特币区块链交易的法币代币》中也写道：
With regard to the risks of USDT, Tether also wrote in Tether White Paper: a French token for trading using the Bitcoin block chain:
Tether 是去中心化数字货币，但是我们并不是一家完美去中心化的公司，我们作为中心化的质押方存储所有的资产。
Tether is decentralised digital money, but we're not a perfect decentralised company, and we store all our assets as a centralized pledge.
所以......
So...
公司可能破产；
(b) The company may be bankrupt;
公司开设账户的银行可能破产；
Banks with accounts opened by companies may become bankrupt;
银行可能冻结资金；
The bank may freeze funds;
公司可能卷款落跑；
(b) The company may run off with money;
重新中心化风险可能让整个系统瘫痪；
The risk of re-centralization could paralyse the system as a whole;
由此可见，USDT 由 Tether 公司发行，自带中心化属性，其中的风险点还是很多的。
As can be seen, the USDT was issued by Tether, with its own centralized attributes, with many risk points.
五、那么来说说文章开头提到的USDT负面消息。
V. So let's say the negative news of the USDT mentioned at the beginning of the article.
Bitfinex通过USDT操纵比特币价格
Bitfinex manipulates bitcoin prices through USDT
“USDT不等于美元”大概是说USDT是一个凭借私人信用发行的，因为是个人信用所以安全基本没保障。另外USDT不承诺保证兑付，并且一直没有公开储备金和款项支出情况。“Bitfinex通过USDT操纵比特币价格”发帖作者认为，Tether没有任何证据证明“每一个USDT都有一美元作为支撑”，并提供了多份Bitfinex使用USDT，操纵比特币价格的图片证明。
“USDT is not equal to the United States dollar” presumably means that the USDT is issued on a private credit basis because it is personal credit, so security is largely insecure. Moreover, the USDT is not committed to making sure that payments are made, and there has been no disclosure of reserves and payments. “Bitfinex manipulates bitcoin prices through USDT.” The author of the post argues that Tether has no evidence that “each USDT is supported by a dollar” and provides several photographic evidence that Bitfinex uses USDT to manipulate bitcoin prices.
关于上面几点，我个人认为也不用太担心，第一，国外使用USDT兑换美元需要交纳约5%的手续费，这个高昂的手续费，应该就是让USDT赚得盆满钵满的。第二，据我所知和USDT合作的大平台非常多，如Bittrex、Poloniex、Hitbtc、币安、Kraken、Cryptopia、Liqui 等平台就。大平台在考虑风险这个问题上往往会比较慎重，因此跑路的风险个人认为是比较小的。第三，我们先不论证Bitfinex通过USDT操纵比特币价格是真是假，就目前而言，非常多的传统金融机构、基金、期货交易所都积极拥抱比特币，他们考虑和承担的风险都比我们大得多，所以没有证实前都不必紧张。
With regard to the above points, I personally do not think that there is much to worry about. First, the use of USDTs abroad for the exchange of United States dollars requires about 5% of the fees, a high fee which should be to make USDT full. Secondly, as far as I know, there are a lot of big platforms for cooperation with USDT, such as Bittrex, Polonix, Hitbtc, Cheonan, Kraken, Cryptopia, Liqui, etc. The big platforms tend to be more cautious about the issue of risk, so running individuals consider it to be relatively small. Thirdly, we do not argue that Bitfinex's manipulation of Bitcoat prices through USDT is false. For the time being, there are a lot of traditional financial institutions, funds, futures exchanges that actively embrace Bitcoins, and they consider and assume far greater risks than we do, so there is no need to be any tension before confirming.
币圈如太极，人只有自己处于静的状态，才有可能在推手中第一时间感受到对手的力道和意图。我当时的感受是只有清空自己，才能最大限度和最快的接收信息，作出正确的判断和应对。币圈也莫不如此。
The currency circle is too small for a man to feel the power and intent of his opponent at the first moment in his hand. I felt that only by emptying myself would I be able to receive the information as quickly as possible, to make the right judgement and to respond. And so is the currency circle.
本材料仅供学习参考，不构成买卖建议，据此买卖，后果自负！
This material is for study purposes only and does not constitute a proposal to buy and sell, and the consequences are self-inflicted!
本文作者可以追加内容哦 !
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