Bitcoin vs usdt (Tether) | Bitcointalksearch.org

aylabadia05

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Quote from: Gideon66 on October 26, 2023, 06:39:50 PM

It's a stable coin backed by us dollar, Both have their unique advantage. How well do you trust Tether stable coin?

When I say Bitcoin is not a coin that can be controlled by any party, this statement is a repetition of the words of the post that was on the first, second and third pages. However, that statement is correct and your point is wrong in comparing BTC with USDT.

Almost everyone brings some money into the crypto world to make a profit while hoping that the value of the currency does not decrease. It is impossible for fiat money brought into the crypto world to not have a long-term profit goal. If it were not for the hope of profit and maintaining value in the long term, investors would prefer to take advantage of the circulation of fiat currency in the business they do.

I can't guarantee that USDT is stored long-term and can protect value and will generate profits. Bitcoin has proven to be a coin that is successful in protecting value and generating profits in the long term.
The question is how much to trust USDT, I don't trust USDT even though many people use USDT as a BTC pair.

Mr.right85

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Quote from: Gideon66 on October 26, 2023, 06:39:50 PM

Bitcoin and Tether are different types of cryptocurrency.bitcoin is a peer-to-peer digital currency governor by any financial institution. Tether is a stable coin, it have same value of the us dollar. That's why it is less volatile than Bitcoin, it can also be use for trading on exchanges or it can be stored value. Both have their potential of Bitcoin and Blockchain technology are endless. It's a stable coin backed by us dollar, Both have their unique advantage. How well do you trust Tether stable coin?

Okay, I've gone through all you've got to say and I don't get the versus idea about the title of the OP.
Are you bringing them both into context of trust/reliability or into context as per value? I feel you really should have adequate your point clear on this.

Something I'll also like to point out though,
Bitcoin isn't govern by any financial institution as that would have made the coin a centralized coin but, it is in itself the only convinced decentralized cryptocurrency out there
.
Again, Bitcoin is a p2p cryptocurrency and so is the Tether (USDT).

Another thing to note is, being dollar pegged doesn't make Tether any better coin than we have in Bitcoin. All existing altcoins are rooted with Bitcoin.

ZAINmalik75

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Quote from: Gideon66 on October 26, 2023, 06:39:50 PM

Bitcoin and Tether are different types of cryptocurrency.bitcoin is a peer-to-peer digital currency governor by any financial institution. Tether is a stable coin, it have same value of the us dollar. That's why it is less volatile than Bitcoin, it can also be use for trading on exchanges or it can be stored value. Both have their potential of Bitcoin and Blockchain technology are endless. It's a stable coin backed by us dollar, Both have their unique advantage. How well do you trust Tether stable coin?

I honestly don't trust any of the stablecoins, due to the de-pegging and termination of a few pegged stable coins like the USDC and BUSD respectively. If I have to trust between BTC and USDT then I will definitely select BTC because it is first not pegged which means, its price is based on the demand and supply factors.

It cannot be terminated like BUSD was delisted and destroyed a few days ago, as the US did not allow their company Paxos to mint BUSD anymore. So they started making the supply of BUSD and it had to be terminated Binance spread the word and everyone converted their BUSD into other tokens. I also had a few that I converted into BNB.

Both do have unique advantages but both have different cases too, BTC is the best source for holding your assets for longer periods of time because it is best for securing the value but usdt pair with local currency can make you loss. For example, if you bought USD with local currency at higher rates and then the price decreased, you will be making a loss. But in BTC losses also occur but in the long run, they don't.

JollyGood

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Quote from: Text on October 27, 2023, 02:03:30 AM

Well, I trust USDT, but of course, I am aware of the risks associated with it. I think it serves its purpose as a useful tool when I need to exit Bitcoin's volatility. So why not use it as a store of value? Because we don't gain from it just by holding. Yeah, that's right, but it saves us when Bitcoin is in a bearish trend to minimize losses. Aside from the most popular stablecoin, it is the most widely used by traders on most reputable exchanges, so how can others say that it shouldn't be trusted?

You are wise to state that even though you trust USDT you are aware of the risks. If it sinks because of a hole in the backing or mass selling it will not meet a good end. The point is noted that if you buy it does not increase nor decrease in value but

Quote from: MetaTeraX1 on October 27, 2023, 06:08:25 AM

actually I never trusted USD which was converted to crypto, until now I don't understand what they print usd/usdt/tusd/busd "based on what". I don't know what fiat money is printed on, plus this. In the past, the guarantee was in the form of gold, but now? so I actually trust bitcoin and gold more than currency/usdt/tusd/busd/ or etc.

This is an excellent post because you cover the main aspects of concern that many people/investors have when it comes to stable coins. We do not need to know what the system entails as long as there is enough backing $1:1USDT ratio it will survive, other than that it will meet a demise that will shake the crypto world down to the foundations.

Litzki1990

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USDT is a stable coin so USDT cannot be compared to Bitcoin. Various coins can usually be converted to USDT or any other stable coin through an exchange. USD is commonly known as dollar. While the USD is kept by some people, most people prefer to convert this currency to other currencies. There is no benefit in storing USD as the value of this currency will never increase but if this currency can be converted to another coin and later on if the value of that coin increases then an investor gains. Therefore, there are many investors who prefer to convert their USDT currency into a different currency in the hope of making a profit.

sokani

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Quote from: Gideon66 on October 26, 2023, 06:39:50 PM

Bitcoin and Tether are different types of cryptocurrency.bitcoin is a peer-to-peer digital currency governor by any financial institution. Tether is a stable coin, it have same value of the us dollar. That's why it is less volatile than Bitcoin, it can also be use for trading on exchanges or it can be stored value. Both have their potential of Bitcoin and Blockchain technology are endless. It's a stable coin backed by us dollar, Both have their unique advantage. How well do you trust Tether stable coin?

Comparing Bitcoin with Tether is like comparing a Lamborghini with a Volkswagen, though they both have their unique functionalities but bitcoin is out of the league with Tether. Bitcoin is decentralized and it's not controlled by any central authority unlike USDT that's centralized and you don't really have autonomy over your funds as it could be frozen any time. Instead of comparing both of them, you'd have compared USDT with DAI, of which I'd still choose DAI over USDT because of its decentralized nature.

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Quote from: Z_MBFM on October 27, 2023, 10:22:20 AM

Quote from: Gideon66 on October 26, 2023, 06:39:50 PM

Bitcoin and Tether are different types of cryptocurrency.bitcoin is a peer-to-peer digital currency governor by any financial institution. Tether is a stable coin, it have same value of the us dollar. That's why it is less volatile than Bitcoin, it can also be use for trading on exchanges or it can be stored value. Both have their potential of Bitcoin and Blockchain technology are endless. It's a stable coin backed by us dollar, Both have their unique advantage. How well do you trust Tether stable coin?

Bitcoin is a decentralized coin that is not controlled by any one person, we all have as much control over it as we have Bitcoin. And that's why its risk is very low. But the USDT has a team that can control it to increase supply and do whatever they want. So USDT can never be as trusted as BTC. I won't say I don't trust USDT. I trust it enough and use it but don't trust the equivalent of Bitcoin. As USDT is stable, it can keep our money stable, there is no chance to increase or decrease money, but the price of Bitcoin always goes up and down, so it is possible to profit and lose. But both are reliable till now but both are used for different purposes

Yes i agree with you. Bitcoin will be first priority If the question of fidelity arises. USDT is now a very widely used stablecoin. Because of this it can be called a trusted coin but cannot be more trusted than Bitcoin. Bitcoin is the first cryptocurrency coin and not even its creator can control it it is completely decentralized so Bitcoin can be blindly trusted but USDT cannot be blindly trusted. Billions of dollars can be held in Bitcoin no doubt but holding too much in USDT is very risky.

moneystery

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Quote from: Gideon66 on October 26, 2023, 06:39:50 PM

Bitcoin and Tether are different types of cryptocurrency.bitcoin is a peer-to-peer digital currency governor by any financial institution. Tether is a stable coin, it have same value of the us dollar. That's why it is less volatile than Bitcoin, it can also be use for trading on exchanges or it can be stored value. Both have their potential of Bitcoin and Blockchain technology are endless. It's a stable coin backed by us dollar, Both have their unique advantage. How well do you trust Tether stable coin?

op it seems like you need to find out more about bitcoin because what you said is wrong. bitcoin is not controlled by any financial institution. bitcoin is a decentralized asset that can be accessed by everyone and is free from government or institutional intervention.

and for usdt. you said that usdt is more stable than bitcoin, and that's true, but it's not completely stable because it's pegged directly to the us dollar which depends on the american economy. if in the future many countries decide not to use usd anymore, are you sure that usdt will remain stable? so your question is how much do i trust usdt, my answer is i don't really trust it.

Z_MBFM

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Quote from: Gideon66 on October 26, 2023, 06:39:50 PM

Bitcoin and Tether are different types of cryptocurrency.bitcoin is a peer-to-peer digital currency governor by any financial institution. Tether is a stable coin, it have same value of the us dollar. That's why it is less volatile than Bitcoin, it can also be use for trading on exchanges or it can be stored value. Both have their potential of Bitcoin and Blockchain technology are endless. It's a stable coin backed by us dollar, Both have their unique advantage. How well do you trust Tether stable coin?

Bitcoin is a decentralized coin that is not controlled by any one person, we all have as much control over it as we have Bitcoin. And that's why its risk is very low. But the USDT has a team that can control it to increase supply and do whatever they want. So USDT can never be as trusted as BTC. I won't say I don't trust USDT. I trust it enough and use it but don't trust the equivalent of Bitcoin. As USDT is stable, it can keep our money stable, there is no chance to increase or decrease money, but the price of Bitcoin always goes up and down, so it is possible to profit and lose. But both are reliable till now but both are used for different purposes

tjtonmoy

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How is this even a comparison? Decentralized asset vs centralized asset? I don't think it is required for me to explain what kind of issue you are going to face using something that is centralized. You lose your freedom, they can have access to your assets, and they can manipulate it despite being pegged to the USD. Now when you choose Bitcoin, you are getting freedom, you are almost anonymous, and you get the security and the option to keep your privacy safe.

Bitcoin is volatile, yes. That is a problem if you are looking for a short-term use. But many have taken this to their advantage and making a profit out of it. By trading Bitcoin in the volatile market we can make a profit. If you are not able to or not comfortable enough to take that risk, you can always choose to hodl for the long term. Or, you can use Bitcoin as it is. You just exchange your fiat money for Bitcoin and use it for purchasing or making transactions.

That is the beauty of Bitcoin. It can be many things at once. Based on your preference you can choose what it should be. All of this you are getting while it being decentralized. How can you compare such thing to USDT?

Wakhid Mukti

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Quote from: Zaguru12 on October 27, 2023, 12:33:50 AM

Quote from: Wakhid Mukti on October 26, 2023, 07:24:32 PM

I can say that USDT is not a cryptocurrency in my opinion. Because it is backed by USD 1:1, USDT is only a representation of USD in digital form, the same as CBDC later. In contrast to Bitcoin and other alternative coins which are decentralized. Cryptocurrency in my opinion is a digital currency that is decentralized, not centralized.

The claims of it been fully pegged to USD is something that is still on a debate because there is no to prove on that. Although I can agree that it some how comes into the line to digital currency too but been decentralized I don’t agree just like I don’t accept that all cryptocurrencies are decentralized as claimed. The only decentralized cryptocurrency in my opinion is bitcoin and with monero the only one coming close to it, the rest are just centralized digital currencies.

Yup, the issue of USDT being pegged or backed by the amount of USD has been in doubt from the start and is still being debated to this day. As long as it is related to a country, the money remains centralized and does not fall into the cryptocurrency category like Satoshi's ideals.

It is a shame that Monero is avoided and even banned in many countries and exchanges under the pretext of privacy.

Z-tight

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Quote from: MetaTeraX1 on October 27, 2023, 06:08:25 AM

until now I don't understand what they print usd/usdt/tusd/busd "based on what".

They claim they have enough reserves to cover liabilities, meaning each usdt is backed 1:1 with the U.S. dollar, but we know that isn't true, they can print out their stable coins out of thin air for whatever reason, and any stable coin could lose its peg, so people who use stable coins should convert it into BTC.

Quote from: MetaTeraX1 on October 27, 2023, 06:08:25 AM

I don't know what fiat money is printed on,

Backed by the government that prints it, lol, and they can print as much as they like out of thin air to temporarily make their economy seem better, the government uses fiat to carry out a lot of its fraud and the citizens suffer it in inflation.

Y3shot

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To me I still consider usdt to be the same thing just as the traditional currency because usdt have the same value with the US dollar. Bitcoin and usdt are two different things playing different roles, no doubt Bitcoin is volatile but more valuable than the usdt. Bitcoin plays a role of being currency and a type of currency that can be invested in to get better profit but the usdt still remains like fiat that have tendency of depreciating in value. Bitcoin is always the best that can never be compared with other currencies. Bitcoin is the most decentralized digital currency to think about.

Husires

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USDT is an intermediary solution for those who want to trade and do not want to convert to cash, because sometimes the conversion to cash is slow and takes several days. Therefore, USDT and all stable currencies have emerged as a solution to this problem, and you should think of it as a temporary solution and not a long-term investment or an alternative to the dollar. Bitcoin differs from USDT in its structure and how it works, as USDT is centralized and the company can control and remove the currencies you have with just one click.

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actually I never trusted USD which was converted to crypto, until now I don't understand what they print usd/usdt/tusd/busd "based on what". I don't know what fiat money is printed on, plus this. In the past, the guarantee was in the form of gold, but now? so I actually trust bitcoin and gold more than currency/usdt/tusd/busd/ or etc.

Z-tight

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Quote from: Gideon66 on October 26, 2023, 06:39:50 PM

How well do you trust Tether stable coin?

I don't trust Tether one bit, you should not trust coins that can be printed out of thin air and has a single point of failure. Take note that your Tether can be frozen at anytime, even if you have it in your own wallet. There is no comparison to be made between BTC and Tether, BTC isn't a stable coin, it is volatile, decentralized and has a lot of utilities, Tether claims to be stable and backed 1-to-1 with the U.S. dollars, but that is false and there is no way for them to prove it, and the Tether you have in your wallet right now may already be lost because it is backed by thin air.

GreatArkansas

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Quote from: bayu7adi on October 26, 2023, 06:50:48 PM

(...)

Quote from: Gideon66 on October 26, 2023, 06:39:50 PM

Both have their potential of Bitcoin and Blockchain technology are endless.

USDT is issued by centralized institutions and cannot guarantee 100% immunity from insider meddling.

Include also the issue of Tether stablecoins that not having 100% backed by USD.
But even though this is the issue, people still using it, and huge market cap on this stablecoin. Bitcoin is far for Tether, I does not making sense to compare it with centralized stablecoin.

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Quote from: bitterguy28 on October 27, 2023, 04:46:02 AM

Quote from: Gideon66 on October 26, 2023, 06:39:50 PM

Bitcoin and Tether are different types of cryptocurrency.bitcoin is a peer-to-peer digital currency governor by any financial institution. Tether is a stable coin, it have same value of the us dollar. That's why it is less volatile than Bitcoin, it can also be use for trading on exchanges or it can be stored value. Both have their potential of Bitcoin and Blockchain technology are endless. It's a stable coin backed by us dollar, Both have their unique advantage. How well do you trust Tether stable coin?

There have been a lot of topic about this case mate comparing or choosing between 2.

But my question is , what is the reason for you to ask this here because it looks like you already have an idea about the 2? or this is just for spamming thread mate?
because it looks like you are not interested in engaging here in your own thread.

Quote from: Text on October 27, 2023, 02:03:30 AM

Well, I trust USDT, but of course, I am aware of the risks associated with it. I think it serves its purpose as a useful tool when I need to exit Bitcoin's volatility. So why not use it as a store of value? Because we don't gain from it just by holding. Yeah, that's right, but it saves us when Bitcoin is in a bearish trend to minimize losses. Aside from the most popular stablecoin, it is the most widely used by traders on most reputable exchanges, so how can others say that it shouldn't be trusted?

there is nothing to trust but USDT if we wanted to stay safer when the volatility of market shows strong , and also like yours we mostly uses this than USDC when we wanted to standby our funds readying to buy when the price drops in my target value.

We all know here that Bitcoin and USDT are really different, and besides that, we all know here that Bitcoin is a good long-term investment compared to USDT. Although when it comes to converting my profit into fiat, I used USDT for it, as I know that all of us here do that.

Therefore, Bitcoin and USDT both help us in the field industry we live in. It's just as simple as you said: when we are in the bull market again and are about to enter, exchange the bitcoin or crypto for stablecoins like USDT. It's that simple, right?

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Quote from: Gideon66 on October 26, 2023, 06:39:50 PM

Bitcoin and Tether are different types of cryptocurrency.bitcoin is a peer-to-peer digital currency governor by any financial institution. Tether is a stable coin, it have same value of the us dollar. That's why it is less volatile than Bitcoin, it can also be use for trading on exchanges or it can be stored value. Both have their potential of Bitcoin and Blockchain technology are endless. It's a stable coin backed by us dollar, Both have their unique advantage. How well do you trust Tether stable coin?

The difference is very obvious, Bitcoin is decentralized with no central authority while Tether does. And as for USDT though, sometimes it can de-pegged to the US dollar that might cause a bigger problem in the future. And Tether has been accused of running in fractional reserves similar to back,

https://cointelegraph.com/news/fractional-reserve-stablecoin-tether-only-74-backed-by-fiat-currency-say-lawyers

Quote

The company behind USD stablecoin Tether (USDT) only has enough cash to back three-quarters of its increasing supply, its lawyers confirmed in documents released on April 30.

As part of an ongoing legal process involving the New York Attorney General, Zoe Phillips of law firm Morgan Lewis said that at the time of writing, 74% of Tether’s reserves had USD and equivalent backing.

The figure falls short of previous promises given by Tether executives, specifically that every USDT token had full fiat backing, something a bank statement appeared to confirm in December last year.

“In fact, Tether’s reserves of cash and cash equivalents alone (without the line of credit) would cover approximately 74 percent of the outstanding amount of tether,” Phillips wrote.

So that is a huge issue with Tether, others might have argued that this is old news, but still it persists till this very day. And as compare to Bitcoin, we will not have this issues as we don't have fake BTC, and everything is in the blockchain for everyone to see.

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Quote from: Gideon66 on October 26, 2023, 06:39:50 PM

Bitcoin and Tether are different types of cryptocurrency.bitcoin is a peer-to-peer digital currency governor by any financial institution. Tether is a stable coin, it have same value of the us dollar. That's why it is less volatile than Bitcoin, it can also be use for trading on exchanges or it can be stored value. Both have their potential of Bitcoin and Blockchain technology are endless. It's a stable coin backed by us dollar, Both have their unique advantage. How well do you trust Tether stable coin?

Original posts made by humans although there are errors but not like this.
Not accusing you of using man-made tools in making this post because you yourself know the truth.

Bitcoin is not regulated by anyone and does not regulate any institution. Free for anyone who wants to use Bitcoin.
It is not suitable at all to compare BTC with USDT because the history is different and the advantages of BTC and USDT are also very different.

Based on history, before it was known as Tether (USDT), the coin was called Realcoin which was launched in 2014 by three people named Brock Pierce, Reeve Collins, and Craig Sellars. Name change to Tether in 2015[1].
Tether (USDT) is owned by a company registered in Hong Kong[2].

[1] https://zipmex.com/id/coin-info/usdt-id/
[2] https://www.investopedia.com/terms/t/tether-usdt.asp

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