Topic: A good news or a bad news - page 2. (Read 639 times)
USDT is a centralized cryptocurrency that has always been at the center of various criminal allegations. That's why I took the US court's claim as normal. Also, I agree that this is not good news, but I think it is not news that can affect the market. Yes, I'm not ignoring USDT's influence on the market, but even the Chinese government's crypto ban did not affect this market. If USDT suddenly disappears from the market overnight, the market will suffer a little, but since the products in the market cannot be bigger than the market itself, the market continues on its way.
Perhaps this will temporarily affect the price of the currency, but in general nothing will change.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
If nothing makes USDT or Tether illegal I think they can provide valid shreds of evidence in the U.S court and I can also say that this is a piece of good news to say that USDT/Tether is clean when it comes to legality.
But if what they show they need becomes invalid in the U.S. court, it will be a big problem for sure. I just don't know if the bad news about the dollar is related.
Anyway, you should just chill and relax as far as I can see everything will be fine for usdt/Tether.
I don't think this is particularly good news for the crypto world. From the start, Tether was a controversial project, with many critics claiming that it was not backed by sufficient funds to qualify as a real stablecoin.
I can imagine a lot of people buying Tethers thinking they were using an asset that is actually backed by the US dollar, but feeling otherwise after having their faith shaken by this court decision.
If Tether can't prove its legitimacy or if a court orders them to shut down, this could be bad news for the crypto market as there might be a lot of selling pressure from USDT holders.
I can imagine a lot of people buying Tethers thinking they were using an asset that is actually backed by the US dollar, but feeling otherwise after having their faith shaken by this court decision.
If Tether can't prove its legitimacy or if a court orders them to shut down, this could be bad news for the crypto market as there might be a lot of selling pressure from USDT holders.
Never trust fully in any stable coin, even if tether can prove that they are in fact backing their coins as they claim we do not know if this will always be the case, this is in fact one of the main reasons why this market exists at all as governments have abused the power of creating their own currency, decades ago they claimed their currencies were backed by a specific amount of gold only to break that promise over and over again, so any centralized entity can always go back on their word if it is on their best interest to do it.
Of course, it is not advisable to put all our assets in USDT even if it is proven to be safe. USDT is also a centralized asset like USD. But this news is good for our market, USDT transparency has been our concern for a long time. Everything needs to be controlled and resolved soon, don't let similar cases like UST happen, causing a series of investors to sink into loss and misery.
it can be said that it is good news if it makes crypto positive value will be better, don't all crypto creators want recognition, maybe the initial usdt of all of this then goes to bitcoin and other alts,
for me this is good news because we who often use USDT should know more about this project.
Well, at the beginning there have been debacle and issue where it has been involved. And you as a user, you should be aware of those things that they were involved off even that happened before.The main thing is how their reserves promise which is said to be 1:1 with fiat. If the government investigates this and it is proven of course it will be a plus for USDT which will be more trusted by the public.
It's been long overdue since that issue has popped. Until now, it's unclear to many if they really have a reserve for the supply that they have for Tether. legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
I have no problem using tether usdt in fact I like the stable coin more than a few others except BUSD, Tether is big enough right now and they have been investigated in the past, bringing this up now is just a new to create fear in this crypto space so nothing new here.
People were calling it as FUD. I think that if you can't call anything as FUD to create fear in the crypto. Sometimes the government needs to the stable token provider to be transparent to the regulators. i guess if all of things gone so well and there shall not need to feel worry about that. This is the fact. Audit is actually needed and regulators are only doing what they must to do. There's no intention to create fear if USDT was real legit. 
Of course, it is not advisable to put all our assets in USDT even if it is proven to be safe. USDT is also a centralized asset like USD. But this news is good for our market, USDT transparency has been our concern for a long time. Everything needs to be controlled and resolved soon, don't let similar cases like UST happen, causing a series of investors to sink into loss and misery.
It is already been discussed and most of the users here don't really recommend it simply because of its nature that it is centralized and you can lose all of your assets at once if something happens to its owner. But we are not removing its total use because these coins can help people a lot especially when there will be transaction congestions where you cannot convert your BTC to fiat and you can use this coin to convert temporarily so that you won't miss the ATH price.
This is a good news if Tether USDT can present a valid proof that backing there Digital USD so that crypto users will finally have peace of mind that they are not doing shady things but this is indeed a bad news if they can’t present anything to backed there USDT in the bank because USDT holder will be on panic mode that will result to depegging of the token same on what happened to Luna.
it would be great if they could show proof that USDT is really backed with valid assets, and that would also refute all kinds of negative news from USDT. it's just that, if they can't provide evidence, it can have a huge impact considering that USDT is one of the most volume assets today. this may affect the level of confidence in other stable coins. however, I expect good results from this. a good outcome of this is likely to make confidence in the crypto world increase. 
In my opinion, it's positive news for the crypto market if they show proof of reserve backing its stablecoin, thus Tether will gain the trust factor amongst all the stablecoins, and traders or investors will not be afraid to hold it. For the time being, I would say just wait for Tether dev to provide the proofs.
Never trust fully in any stable coin, even if tether can prove that they are in fact backing their coins as they claim we do not know if this will always be the case, this is in fact one of the main reasons why this market exists at all as governments have abused the power of creating their own currency, decades ago they claimed their currencies were backed by a specific amount of gold only to break that promise over and over again, so any centralized entity can always go back on their word if it is on their best interest to do it.Of course, it is not advisable to put all our assets in USDT even if it is proven to be safe. USDT is also a centralized asset like USD. But this news is good for our market, USDT transparency has been our concern for a long time. Everything needs to be controlled and resolved soon, don't let similar cases like UST happen, causing a series of investors to sink into loss and misery.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
I think this is good news, because there is some confusion about the background of USDT ie Tether. I think if they clear it to the public as ordered by the US Govt it will shed its shadyness and emerge stronger. On the other hand, if they don't present the right information, I think any restrictions on them will hurt the cryptocurrency a bit. I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
In my opinion this is good news because the coin stable has direct support from the USD, this will strengthen the USDT position so that it does not hesitate to store assets to the USDT. I hope that this will also happen to other coins.
In my opinion, it's positive news for the crypto market if they show proof of reserve backing its stablecoin, thus Tether will gain the trust factor amongst all the stablecoins, and traders or investors will not be afraid to hold it. For the time being, I would say just wait for Tether dev to provide the proofs.
Never trust fully in any stable coin, even if tether can prove that they are in fact backing their coins as they claim we do not know if this will always be the case, this is in fact one of the main reasons why this market exists at all as governments have abused the power of creating their own currency, decades ago they claimed their currencies were backed by a specific amount of gold only to break that promise over and over again, so any centralized entity can always go back on their word if it is on their best interest to do it. 
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
it all depends if they are truly up to their words and are backing up their stable coin or they were all lies and we're going to witness a big downfall for crypto, it might be the latter because I don't really believe that USDT is %100 backed by us dollars, I somehow can't trust them, that's why I don't hold USDT anymore.We know that if tether was not fully backed by fiat money but it was combined with various assets in the market. So, this may also become a boomerang for tether
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
This news have not circulates. And i believe that this information should be place on examination. Because if this information is vital many people would have dispense the information by now. And op, for you to make information authentic you have to include the the source of the information to make it more reliable to the listener and also the readers as well. The controversy over Tether, the company issuing the USDT stablecoin, is still ongoing, most recently the United States through a local court finally rejected the company's application to hide their money reserve records from the public.
Some time ago, Tether asked the New York City Court to prevent the public from requesting to examine documents related to the money reserves that backed the value of their stablecoins issued over the past few years. It started after the leading crypto media Coindesk asked the state to disclose the company's financial records
https://blockchainmedia.id/
The rumors about usdt reserve backing have been circulating for so long keeping people in doubt, it is better they clear the air so that investors will be confident enough and have the trust to store their assets with usdt.
It is very unhealthy for any investor to use usdt store the money when it is not transparent, see what happened with ust, even though the scenario is different but it still boils down to trust, many investors trust terra ust enough to store thousands and millions of dollars with it but at the end, things went really bad and people lose money.
Nobody wants a repetition of such a situation with usdt, it is better they own up and do as instructed by the court.
It is very unhealthy for any investor to use usdt store the money when it is not transparent, see what happened with ust, even though the scenario is different but it still boils down to trust, many investors trust terra ust enough to store thousands and millions of dollars with it but at the end, things went really bad and people lose money.
Nobody wants a repetition of such a situation with usdt, it is better they own up and do as instructed by the court.
So this is good news not bad news as people fear, if we are not doing anything wrong why should we be afraid, it seems like people are not sure about the USDT they are holding. The news about USDT has been around for a long time but it was never clear, I hope that after the UST collapse, governments can tighten the operation of stablecoins, this will be very beneficial to us, investors. We need a healthy market to invest in, not a market full of scammers.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
This news have not circulates. And i believe that this information should be place on examination. Because if this information is vital many people would have dispense the information by now. And op, for you to make information authentic you have to include the the source of the information to make it more reliable to the listener and also the readers as well. 
The rumors about usdt reserve backing have been circulating for so long keeping people in doubt, it is better they clear the air so that investors will be confident enough and have the trust to store their assets with usdt.
It is very unhealthy for any investor to use usdt store the money when it is not transparent, see what happened with ust, even though the scenario is different but it still boils down to trust, many investors trust terra ust enough to store thousands and millions of dollars with it but at the end, things went really bad and people lose money.
Nobody wants a repetition of such a situation with usdt, it is better they own up and do as instructed by the court.
It is very unhealthy for any investor to use usdt store the money when it is not transparent, see what happened with ust, even though the scenario is different but it still boils down to trust, many investors trust terra ust enough to store thousands and millions of dollars with it but at the end, things went really bad and people lose money.
Nobody wants a repetition of such a situation with usdt, it is better they own up and do as instructed by the court.
The comparison with UST is highly incorrect because USDT is a centralized stablecoin backed by dollars and securities. UST is an algorithmic stablcoin and has been backed by the dollar through a link to risky and volatile assets such as LUNA and BTC. Keeping money in algorithmic stablecoins is definitely not a good idea, as they are at maximum risk of de-peg.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
Any kind of negative news in a bearish market makes crypto more hindered. But all these positive or negative news is not new. It can be said that crypto runs through it. But what the OP mentions has no truth to it. Constantly releasing negative news on cryptocurrency is also a work of whales. Many in such news will sell their assets at low prices and whales will buy them at low prices as well. But such trap is nothing new. Jump to: