Bitcoin vs usdt (Tether) - page 2. | Bitcointalksearch.org

bitterguy28

full member

Activity: 2170

Merit: 182

“FRX: Ferocious Alpha”

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.

Blitzboy

hero member

Activity: 1344

Merit: 565

Leading Crypto Sports Betting & Casino Platform

Bitcoin and Tether are fundamentally different. Bitcoin pioneered decentralized digital currency without financial institutions, while Tether is a stable cryptocurrency tethered to the US dollar. People commonly confuse the two when they compare them. Tether may look stable because to its 1:1 peg, but can you trust it long-term? How's it supported? We have what assurances?

Bitcoin is unique due to its decentralization. Tether promises stability but lacks Bitcoin's long-term trust. Tether's trading and storage potential doesnt compare to Bitcoin. The idea that Tether can compete with Bitcoin is absurd. Its trash when compared with Bitcoin. Be skeptical, especially with your money.

adultcrypto

sr. member

Activity: 476

Merit: 307

Quote from: BitMaxz on October 26, 2023, 07:01:13 PM

It seems you get information from ChatGPT Bitcoin is not controlled by any authority or any financial institution bitcoin is decentralized and no one controls it.

And why would you compare USDT to Bitcoin they are too different.
USDT is stable, yes and you will never see this to be volatile the same as Bitcoin because it was created as stable as USD.

I was surprised seeing the comparison. There was never any basis for such comparison because both are entirely different and serve different purposes. It is just like comparing USD to Bitcoin, with the intent of achieving nothing.

Tether is a stable coin like he rightly said, it is centralized and controlled by the founders. On the other hand, Bitcoin is decentralised and never controlled by any single entity. If I'm considering what to trust, I will trust the money in my custody and not the one held by another person. The experience with LUNA is an indication that anything under the control of another person is not safe.

Text

hero member

Activity: 2464

Merit: 594

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?

Strongkored

legendary

Activity: 2814

Merit: 1112

Leading Crypto Sports Betting & Casino Platform

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?

You are wrong if you say that both have the same potential because they are different things, Bitcoin is completely decentralized while USDT or stable coin is a digital coin that is backed up by a company so it is not decentralized so you can lose USDT without being hacked or sent incorrectly because if the company is backing it up The stablecoin goes bankrupt so you have the potential to lose the value of the stablecoin even though the coins are still in your wallet, while Bitcoin still exists and you will only lose the coins if you are not careful in storing them.
Do I trust USDT or stablecoins? not as an investment or consider it for the long term because it will not get any profit other than the risk of loss because of what I mentioned

Jawhead999

legendary

Activity: 1862

Merit: 1209

It's a logical fail to compare BTC with USDT because both of them are different in the first place.

Quote from: BlackHatCoiner on October 27, 2023, 12:45:48 AM

Says who? I say it can't be a stable coin, because history is full of other "stablecoins" which lost their peg along the way: https://chainsec.io/failed-stablecoins/. While it may currently be tied to the USD, it is potentially worthless like the rest of the coins which attempted to be stable.

AFAIK all stablecoins regardless it's centralized or decentralized, it's not backed by 100% real USD/fiat. That means there's no real stablecoin until now? on the other hand CBDC could be the real stablecoin, but I'm expecting every people who touch it need to comply with the regulations.

Zanab247

full member

Activity: 1414

Merit: 236

Catalog Websites

BTC still remain the top coin among other cryptocurrencies and, is not control by any government agencies which are part of some of the things that made people to value BTC than USDT because, it can pump higher today without any government permission and dump at anytime without government officials approval. BTC is an asset you can invest when the price is low and hodl for the price to increase higher before you can sell to earn big money from your investment, but it will take you a long years before you can earn little money from your USDT because is a centralized currency that is control by the government.

Now that you know the different between decentralized currency and centralized currency, I believe you will prefer to invest your money in decentralized currency than centralized currency that will not allow you to make a good profits because is be control by government.

BlackHatCoiner

legendary

Activity: 1512

Merit: 7340

Farewell, Leo

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

bitcoin is a peer-to-peer digital currency governor by any financial institution.

It is not governed by any financial institution, because it is governed collectively by the network.

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

Tether is a stable coin

Says who? I say it can't be a stable coin, because history is full of other "stablecoins" which lost their peg along the way: https://chainsec.io/failed-stablecoins/. While it may currently be tied to the USD, it is potentially worthless like the rest of the coins which attempted to be stable.

Fivestar4everMVP

legendary

Activity: 2422

Merit: 1083

Leading Crypto Sports Betting & Casino Platform

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.

Well, a lot of misconceptions here, i believe you have been corrected though, but let me just add that, Bitcoin like i believe some people have said is completely decentralized and not under the governor or control of any financial institution or any individuals per say.

USDT on the other hand is a stable coin just as you have said, its centralized and under the custody of Tether which sees to the minting of new USDT tokens, USDT like some have said cannot be used as a store of value, since holding it means you are holding USD, and if USD cannot be used as a store of value, USDT also cannot serve as a store of value as well.

Bitcoin is a better store of value so buy and hold bitcoin instead.

Zaguru12

hero member

Activity: 868

Merit: 952

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.

Quote from: adaseb on October 26, 2023, 11:45:41 PM

Also one is a crypto and the other is a stablecoin which value is always fixed at $1.

Although the changes are insignificant but it is still not total fixed 100% at $1 there were times were the market was totally down like during the FTX saga and the price was like around 0.96$ but then later retracted back, even now it is a little bit higher than $1 but the dominations are not necessary, but still it falls below that $1 when volatility in the crypto market becomes high during bearish periods

AHOYBRAUSE

hero member

Activity: 798

Merit: 896

Leading Crypto Sports Betting & Casino Platform

Quote from: BitMaxz on October 26, 2023, 07:01:13 PM

It seems you get information from ChatGPT Bitcoin is not controlled by any authority or any financial institution bitcoin is decentralized and no one controls it.

And why would you compare USDT to Bitcoin they are too different.
USDT is stable, yes and you will never see this to be volatile the same as Bitcoin because it was created as stable as USD.

Exactly my thought. First it sound generic and second I don't even understand the purpose of this thread. What is OP trying to tell us.
You could compare apples and oranges as well and it would be the same discussion. Grin

I actually never used usdt. My wife sometimes gets paid in it, which is nice, but I am still not a fan. Also I don't understand why it must be on 3 ( or maybe more , I don't know ) different chains.
Oh I remember, I used it once some years ago to deposit at a crypto mastercard, and I accidentally used the wrong chain, used trx chain while it had to be on eth, and I my deposit was lost forever. Probably not lost forever but since the depo was only like 45$ and the company told me "recovering" it would cost me 50$ for some reason it didn't make sense financially. Cry

pooya87

legendary

Activity: 3472

Merit: 10611

Tether is not backed by dollar, the centralized company that keeps "printing" more of it claims that it is backed by dollar 1:1 but so far there has not been any proof and many believe that they are lying.

Your comparison makes no sense either, Tether is a centralized shitcoin that should only be used by traders who want a quick escape from the market at times of high volatility or when they want to transfer funds between exchanges using a shitcoin without losing much in the transition. Otherwise it has no utilities.

mindrust

legendary

Activity: 3276

Merit: 2442

Usdt is crap. It is centralized and most importantly it is FIAT and not even backed by real usd. I can’t believe the US gov still allow bifinex to issue usdt at this point because it is no different than issuing counterfeit money. Btc is on the other hand is decentralized and it also a commodity which is a different asset. Gold, coffee, rice, tobacco and copper are commodities too. Btc is just like them. Nobody can print btc out of thin air but they can print usdt/usd infinitely. Btc is superior to usdt in every aspect you can think of. This shouldn’t even be a question.

dzungmobile

sr. member

Activity: 854

Merit: 424

Playbet.io - Crypto Casino and Sportsbook

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.

Bitcoin and Tether USDT have a biggest difference. Decentralization versus centralization. Bitcoin versus an altcoin is already a big difference. Because Bitcoin is decentralized and censorship resistant, it can not be control by any financial institution, not like Tether USDT.

PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets
Stablecoin and blacklist
Tether USDT banned addresses show 918 banned addresses that have 471,410,335 USDT in total value.

Quote

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.

It is peg of USDT to US. dollar but is the peg stable or unstable, it depends a lot on Tether company on how they have treasury, collateral for their USDT.

Terra stable coin UST is an example that a stable coin can depeg and can be more volatile than Bitcoin.

adaseb

legendary

Activity: 3808

Merit: 1723

They aren’t really related at all. Besides the fact that both are cryptos that’s about it.

They don’t even run on the same network. Bitcoin used to have tether on the Omni network but it was discontinued years ago due to low use and mostly it’s on the Ethereum network now.

Also one is a crypto and the other is a stablecoin which value is always fixed at $1. One is decentralized but the other is actually centralized and has had to freeze funds in the past.

DapanasFruit

member

Activity: 1218

Merit: 49

Binance #Smart World Global Token

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.

Let's clarify this statement. I don't think that Bitcoin is governed by any financial institution...maybe you are referring to USDT and you are right since it is a stablecoin released and managed by a specific company and that it means it is centralized. Bitcoin is very much decentralized so nobody is controlling it though its price in the market can be manipulated by those who are holding huge BTC in their portfolio. In between the two, this is akin to comparing apple to orange...both are different and are having different functions and features.

Darker45

legendary

Activity: 2576

Merit: 1860

Both have their unique advantages, yes, but how can we say that Tether's potentials are endless? In the first place, it simply represents the US dollar. Secondly, it is centralized. Which leads us to my third point, that it is able to enforce censorship. This goes on and on. We can deduce a number of conclusions from the mere fact that it is centralized. For example, that Tether has the ability to freeze funds. And if they can do that, they can also seize them. USDT doesn't share Bitcoin's revolutionary features.

Wakhid Mukti

full member

Activity: 588

Merit: 105

Play Bitcoin PVP Prediction Game

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.

JollyGood

legendary

Activity: 2534

Merit: 1713

Top Crypto Casino

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.

What is the point of the post? You are not asking a question or even making it known you are seeking a reply, all you have done is to post something that is merely a comment.

Quote from: BitMaxz on October 26, 2023, 07:01:13 PM

It seems you get information from ChatGPT Bitcoin is not controlled by any authority or any financial institution bitcoin is decentralized and no one controls it.

It does look as though there is an element of AI involved. Why would someone post something that trivial and then round it off without making it known what he wanted?

BitMaxz

legendary

Activity: 3472

Merit: 3217

Playbet.io - Crypto Casino and Sportsbook

It seems you get information from ChatGPT Bitcoin is not controlled by any authority or any financial institution bitcoin is decentralized and no one controls it.

And why would you compare USDT to Bitcoin they are too different.
USDT is stable, yes and you will never see this to be volatile the same as Bitcoin because it was created as stable as USD.

Topic: Bitcoin vs usdt (Tether) - page 2. (Read 315 times)