About USDT - page 4. | Bitcointalksearch.org

Cookdata

hero member

Activity: 1078

Merit: 903

Not Your Keys, Not Your Bitcoin

Certik is nothing more than a smart contract reviewer. Projects provide them with their source code of written smart contracts so that they can be reviewed for any vulnerabilities or future failures. This gives investors and the general public more confidence in their investments, but it shouldn't be used as investment advice because anything other than smart contract failure could occur, such as the team running off with the funds raised.

Usdt is a company that has been dragged for a long time, even before Certik was founded. They've been charged and investigated in the past for not being transparent with the equivalent pegged fiat deposit for each USDT and bitcoin price manipulation. With USDT as centralized stable coin, they can freeze your money any time especially when they don't find you transparent. (According to their ways)

Quote from: FirmWars on February 12, 2022, 02:40:50 PM

As a newbie I kinda like investing in projects that are audited atleast so back to my question.

https://www.certik.com/company/disclaimer

Just a friendly disclaimer, you should check.

hosseinimr93

legendary

Activity: 2380

Merit: 5213

Quote from: FirmWars on February 12, 2022, 02:40:50 PM

When I tracked it on coinmarketcap I found out that's it passed audits through Certik and Fairyproof, why haven't this clear the rumour that USDT might fail someday?

I don't have much information about those audits. But most probably they have only audited the smart contract. For example, they ensure that there is no vulnerability in the smart contract.

One of the main concerns about USDT tokens is that there is no proof that the tokens are backed by real dollar.
The other problem is that the tokens can be freezed at any time without any reason even in your own wallet.

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Leading Crypto Sports Betting & Casino Platform

Quote from: FirmWars on February 12, 2022, 02:40:50 PM

then why DAI ( decentralized stable coin) haven't grow over USDT all this while?

Let me use bitcoin as an example, it is decentralized, but why are people preferring centralized exchanges over decentralized exchanges? It is just because people like what is trending and they like what others are using, they do not care about having in-depth knowledge about it and how their privacy are easily invaded.

But this is what I thought about it, almost all exchanges are paring bitcoin and other unstable decentralized coins with USDT, that is one of the reasons more people are using it. Exchanges will also like a coin that is so centralized to the extent it can easily be freezed by the developer behind it.

USDT can easily be freezed, be it on exchanges or noncustodial wallets, it is very centralized.

Zotak337

member

Activity: 232

Merit: 10

You need to do some research on USDT, in this world once you managed to stain your name it will forever be a stamp, Tether team have onced faced the law due to their conning act in the past that's why some don't believe in this stable coin, secondly it's a centralised stable coin, for some that's enough not to trust.

FirmWars

member

Activity: 239

Merit: 79

Please correct me if I got it all wrong, audited projects are projects that have passed some security checkup right? As a newbie I kinda like investing in projects that are audited atleast so back to my question, USDT is the biggest stable coin right? When I tracked it on coinmarketcap I found out that's it passed audits through Certik and Fairyproof, why haven't this clear the rumour that USDT might fail someday? Because it's Centralised? If that's it then why DAI ( decentralized stable coin) haven't grow over USDT all this while?

Topic: About USDT - page 4. (Read 530 times)