Topic: Based on most logical analyses and knowledge here is the conclusion about BTC (Read 208 times)

Honestly, you're making this conversation look so personal and this makes me have the impression that you're doing this for USDT publicity cause nobody asks the USDT team to prove anything but to make reserve more transparent to the public just like UST did. The last time i checked the believe of all crypto communities is that USDT is backed by fiat currency and you shouldn't use Binance protocol to judge USDT team protocol.

@325btc, please post all discussions about altcoins/stablecoins in the appropriate board in the future.

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Does gold have a limited supply? How much is there on earth, how much on other planets of our solar system, how much on asteroids? You mix apples and oranges, but you're right about stablecoins - whenever the Tether team needs money, they just add as much USDT as they need and say 1 USDT is backed by 1 USD. History has shown that they are not honest about it, and I believe that their future will not be very bright.


You see, maybe it's not a bad idea for a movie or to try to write a book on the subject first. No matter how crazy the idea may seem, the world is ruled by lunatics anyway - I'm afraid to think what kind of crazy ideas will come to their mind by then. In addition, the Tether team is behind the El Salvador project, they have reportedly already done the same thing in Honduras, but they are also working in Switzerland.

Oh joy, yet another topic where this dullard spouts nonsense about Tether.

Please go away.  Your fantasies are ridiculous.  Tether will NEVER be a reserve currency.  That is a dumb conclusion to draw from the evidence available to you.  Rather than adopting Tether, the US government is actually more likely to seize what pathetically limited assets Tether hold and shut that crapcoin down for good. 

It's insane they they haven't been shut down already, to be honest.

We can't even consider USDT a cryptocurrency because

• They can freeze your coins even if it's inside the wallet: Tether Freezes $160M of USDT Stablecoin on Ethereum
• They failed to prove that this currency is covered, meaning that 1 USDT != 1 USD inside their bank account.
• They failed to prove that they have more than 4% of assets.
• This currency did not maintain its stability, as its price witnessed a decrease to .8 dollars: https://coinmarketcap.com/currencies/tether/

You should think before long term investing in this currency.

USDT is backed by USD. the hint is in the name of the token.
binance has a separate sidechain token that is backed by bitcoin(well kind of, its ethereum based sidechain) this token is not USDT it is instead WBTC

yep USDT is dollar and WBTC is btc

Exchangers like binance they have usdt backed by btc they needd to proof themselfes not to you.
Btc is a collateral

Thats my point.
USDT was backed by USD not by Gold/BTC and if it's backed by BTC and Gold as you claimed. Why did the dev team didn't provide us with the evidence that USDT was backed with gold and BTC.

Yes, the USDT team has once scammed a lot of people when they lied to us about the reserve while using the investor/holder money to fund another project.

Is there anything logical that was mentioned in this topic?
All optimists do not expect the US government to use Bitcoin as a reserve. Some governments, companies and individuals may do it, but it is difficult at the current stage for countries, especially the United States, to do use bitcoin as a reserve coin.

• USDT IS SHITCOIN
• USDT is not 1:1 is pegged to USD
• USDT IS SHITCOIN and will never be as reserve currency, it is slowly die.
• Not by 2030, by 2300 Bitcoin will always be better than ETH.
• DEFI is scam central finance.

and still asking Is there anything logical that was mentioned in this topic?

a commodity is a raw material used to made products

gold is a commodity.. and.. yes and an asset

gold sits on 2 markets, the commodity(production) market and the asset(investment) market

bitcoin features follows gold asset(investment) market features, not its commodity(production) market features

Bitcoin is the monetary system Gold right from the beginning cause it was created to play a huge role and to revolutionized the monetary system but the institutions and the governments don't have the genius knowledge to understand it while does that understand it doesn't want to support it.

USDT is the only used stablecoin in the market though it was the first but footing the previous reserve record which was once built on lies. I will advise you to choose your stablecoin carefully.
Therefore, it's a lot of capital is moving into the stablecoin market but this is applicable to investors who are into short-term profit, and if you notice you'll see that the Bitcoin market has changed and the best thing now is to hold while accumulating more when the market downtrend.

All these stablecoin are mostly backed by fiat currency and I wonder where you get the impression that USDT is backed by BTC when they are not transparent from the beginning and now claim their USDT to be backed by their (USDT) reserves. What the reserve is we don't really know.
They even said the reserves can match or exceed the amount required to redeem all Tether tokens in circulation.


No government will ever use USDT as their reserve currency due to the project record.

It is hard to conclude what will happen in the future when we both know tomorrow are not even promised but one thing thats sure is that there will always be a new innovative concept in the market.

There got be reason what part the btc play in new currency syatem that even the wall street and top rulers elite are in btc through their undercompanies such us grayscale.
Now btc is like GOLD its limited supply so each time when btc going up USDT and usdc will be minted this is what we know.
The usd is down but usdt 1:1 is pegged to usd but on legal matter usdt is not usa dollar.

By market swings up and down up and down volatility a lot capital moves in USDT
So what is the main conclusion here ?
Usdt usdc and pax backed by any approved gold or silver like crypto currency BTC,eth,trx,sol,avax
Usdt backed by mostly btc will be new world reserve currency the federal reserve should start print money again latest year 2025 but instead of printing old fiat currency they can approve USDT as reserve currency.
Yes usd is falling we know but you not been told about usdt standard and usdt is ready and fully developed so with full liquitity of exchangers so its easy way to take it to use

Year 2025-2026 most likely we will have usdt as new reserve currency backed by BTC.
Btc bretton woods 2.0 and once DEFI eth will be fully developed by the year 2030 then btc as backer of USDT not needed anymore so the eth with DEFI will take over the btc purpose.
This is just most logical conclusion if we take in consideration how is the best and most sustaineble ways to operate its just most logical way how it all goes.