Topic: Btc and usdt people trust - page 2. (Read 602 times)
Trust is the most important thing you have to invest when you join cryptocurrencies, because crypto stores many things that are not transparent or open. Coupled with the fluctuating value and some coins that tend to get stuck and disappear, of course, many people are wary if someday the coins they hold will disappear too. This it is no longer a new problem for crypto users, many of them have been asking questions for a long time but there is no definite answer, therefore all we can instill is trust in each other in crypto. Either you choose to stay and continue what you have been doing so far in crypto or just leave it.
Traders and alot rich traders investors are in 2 things.
Btc and usdt as USDT is safe place to hold funds but how the exchangers protect this ?
Imagine if something happens with usdt many people will lose so much that they never cant deal with crypto anymore so what is the exvhangers security plan to fully protect customers ?
As myself fully depend on usdt thats how much i trust usdt and usdc also.
People want to be in crypto if they can funds in stable coins to give them safety but if usdt not safe as there is rumours about usdt then all the crypto game will be over.
I can never sleep well if i know my money will be in volatile coins so USDT is now very important and gives confidence for investors and crypto lovers such us myself
Btc and usdt as USDT is safe place to hold funds but how the exchangers protect this ?
Imagine if something happens with usdt many people will lose so much that they never cant deal with crypto anymore so what is the exvhangers security plan to fully protect customers ?
As myself fully depend on usdt thats how much i trust usdt and usdc also.
People want to be in crypto if they can funds in stable coins to give them safety but if usdt not safe as there is rumours about usdt then all the crypto game will be over.
I can never sleep well if i know my money will be in volatile coins so USDT is now very important and gives confidence for investors and crypto lovers such us myself
Why leave your money under the care of an exchange if you are not trading with it? If you just want to hold you money in stablecoins and not trade there is no need to keep them in exchange, hold them in private wallet, whether it is btc or usdt.
If you are a trader on the other hand, you just have to trust that the security of the exchange is strong enough to protect customers funds, a reason why you should only trade in reputable exchange that have better insurance policy to protect users should such situation occurred.
It is clear that we live in a society where the economy includes many things, and fiat plays a role in almost every activity of life. Investing in crypto, for most of us, is an option to find opportunities to earn money to improve our quality of life. We may hold similar or opposing views on money, but in my opinion, trust in BTC and USDT is unavoidable, as evidenced by their continued existence.
The presence of stable coins makes anyone more calm, when feeling profit, then immediately move to a stable coin, or vice versa when the market is very fluctuating and in the negative direction then immediately divert it to a stable coin into the best solution, this makes the use of stable coins the biggest and Daily transaction volume can reach 2x from Bitcoin.
Traders don't trust stablecoins, they just use stablecoins only temporarily because of the lack of other convenient ways to buy crypto-dollars. People should trust bitcoin more, because of everything on the market, bitcoin is the safest place to store money. Especially now, when, as you said, rumors about insecurity of dollar have started to circulate. It should be noted that if something happens to the dollar, it would be bad for all markets. And then the value of bitcoin would be even greater.
BTC is already been there before USDT and other stable coins came out so what makes you think that when USDT collapse, all cryptos are no more?. You can't sleep if you hold btc but you can sleep when you hodl a USDT? but I thought are worried that what if USDT is a scam? BTC is only volatile but it was not a scam.
You can only lose a portion of your money but you can recover it soon when the price recover but if you lose your money in a scam coin, there is no way for you to recover it, anyway there are stable coins with less anomalies, they are BUSD and DAI most especially because it was decentralized. If I were you I will migrate now on them. Don't wait before the rumors on USDT came true.
There are not only bad rumors about USDT, there are many examples of large sums of money being blocked on addresses for various reasons. In this regard, comparing Bitcoin and USDT is simply not correct. because bitcoin is something eternal, no one can block it, and it has been constantly growing in price throughout its history.
I will make reputation of exvhanger down and also will hire soneone who will techically will fuck all the exchanger.
Are you even aware what it would cost you to attack something like exchange (that usually have good protection) via ddos or any other type of similar attack? Based on your comments, I seriously doubt.But dont worry exchangers knows this they will be out of business if they start f around with customers
Some exchanges are screwing their customers for years yet they are still around. Take HitBTC, Yobit, P2PB2B, Coinsbit etc, all exchanges with horrible reputation and the long history of screwing up, yet somehow people still use them and their are in the business. Again, things are not as simple as portrayed them and that's why no one should keep their money on the exchange, even if its one of the biggest ones like Coinbase or Binance. They can take your money based on any bs reason they come up with and there is nothing you can do about it.
people use USDT not to invest. but only for temporary use to secure the value of the asset when the price is going down. people flocked to move their assets to stable coins such as USDT, USDC and so on. and usually it's just a moment. or not stored for a long time.
Regarding security, all sectors have their own risks. nothing is really safe in this world.
so I think about security nothing is really safe. So don't worry too much about overdoing it.
but there are times when I have the same thoughts as you.
Regarding security, all sectors have their own risks. nothing is really safe in this world.
so I think about security nothing is really safe. So don't worry too much about overdoing it.
but there are times when I have the same thoughts as you.
you shouldn't accumulate and store usdt, usdt is not really safe.
It seems to me that it is not so much a matter of security as of the fact that it does not have sufficient grounds and meaning. It's like putting money under a pillow and waiting for it to depreciate. The point of investing is to make your money work and make new money. USDT can not do this, it's just a certain equivalent, which is only needed to exit and enter the position.
Traders and alot rich traders investors are in 2 things.
Btc and usdt as USDT is safe place to hold funds but how the exchangers protect this ?
Imagine if something happens with usdt many people will lose so much that they never cant deal with crypto anymore so what is the exvhangers security plan to fully protect customers ?
As myself fully depend on usdt thats how much i trust usdt and usdc also.
BTC is already been there before USDT and other stable coins came out so what makes you think that when USDT collapse, all cryptos are no more?. You can't sleep if you hold btc but you can sleep when you hodl a USDT? but I thought are worried that what if USDT is a scam? BTC is only volatile but it was not a scam.Btc and usdt as USDT is safe place to hold funds but how the exchangers protect this ?
Imagine if something happens with usdt many people will lose so much that they never cant deal with crypto anymore so what is the exvhangers security plan to fully protect customers ?
As myself fully depend on usdt thats how much i trust usdt and usdc also.
You can only lose a portion of your money but you can recover it soon when the price recover but if you lose your money in a scam coin, there is no way for you to recover it, anyway there are stable coins with less anomalies, they are BUSD and DAI most especially because it was decentralized. If I were you I will migrate now on them. Don't wait before the rumors on USDT came true.
I see a lot of confusion in this post. First of all Tether clarified their position with the US government, so that kind of FUD is quite old, and if you really don't trust USDT and want to have stable coins then there are plenty of options out there: BUSD, USDC, UST... Anyway I still don't understand why Tether should scam the whole ecosystem, how they could make more money with a scam rather than keep making a ton of money every single day.
They could scam the whole system because centralized coins with partial backing can be made out of thin air. You can't make more bitcoins without mining it, but you can make tether. You can literally press a few buttons and there's a million dollars worth of tether. It can be because somebody had deposited some money to get tether or not, we'll never know.
If you're selling your bitcoins for tether you are giving away the ownership of your private key for a promise and putting faith in a group of people. This is exactly what Bitcoin was supposed to protect you from.
This is actually a very frightening thing, it becomes even scarier when you realize that USDT is controlled by just one exchange and it is responsible solely for maintaining its value, which means if someday something happens to that very exchange your USDT loses its value. And it's absolutely true that 70-80% of all the wealth of almost all the traders is kept in such stablecoins, which means one shock in such coins is enough to shake all your wealth, I remember such a thing happening a few years back when bitcoin jumped by almost 3000$ from 7k to around 9k after there was a news regarding some abnormality with USDT.
This has been the case for USDT ever since it was created, and yet people still invested heavily into it for some reason. Same goes for USDC and BUSD as well, one exchange is behind both of them (coinbase and binance) and that means if we are talking about stablecoins, we are talking about three big exchanges that are behind 150+ billion dollars worth of stablecoins total.This is why it is very very scary to us that 3 exchanges could literally ruin all of crypto world. I am not saying that they will, why would they, they are making a lot of profit from them so they won't but the fact that they even "could" do that is scary enough for me.
I don't think anybody should trust usdt over bitcoin, the only time I make use of usdt is whenever I want to buy a coin and am waiting for the coin to retrace to a particular price first before buying, then an always leave my money in usdt first before buying the coin but I don't trust usdt, I can never leave my money in usdt.
No one should really trust it in the first place but we could not deny that it would really be useful towards your investment steps or actions specially when you are really avoiding volatility or simply securing out your profits which it would really be normal that it would be ideal on using up USDT on this particular situation.If you are on that consideration on saving up your funds on USDT form then it wont really be that reccomendable
since we know that it isnt decentralized just like on most coins in the market.
Just utilize its actual usage and dont make it as a form of your accumulation of your assets.
We all know that usdt is also useful, but some people keep on accumulating bitcoin because they believe thier funds are safe when in usdt which I always discourage, usdt is very important whenever their is volatility in market, you shouldn't accumulate and store usdt, usdt is not really safe.
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I honestly think of USDT when I go to the P2P exchange. If I was given a choice between Bitcoin and USDT, without hesitation I would choose Bitcoin. But as OP says, traders wait for the bitcoin price to drop to buy more with their USDT pair. Without Bitcoin in the crypto market it would not be as we know it. All other coins depend a lot on the address where bitcoin is moving.
I agree with you, without bitcoin in the crypto market it would not be as lovely it's today. Bitcoin still remain the king among other cryptocurrencies because whenever bitcoin price is rising other coins will be rising too, but whenever bitcoin price is dropping in the crypto market other coins will start dropping too, show that bitcoin price control other coins price. Bitcoin is more safe and reliable in both short and long term investment compare to USDT that is not favourable in long term investment. Bitcoin is still maintaining the first position among other cryptocurrencies that will make many investors to prefer BTC than USDT.
I honestly think of USDT when I go to the P2P exchange. If I was given a choice between Bitcoin and USDT, without hesitation I would choose Bitcoin. But as OP says, traders wait for the bitcoin price to drop to buy more with their USDT pair. Without Bitcoin in the crypto market it would not be as we know it. All other coins depend a lot on the address where bitcoin is moving.
It's not your money when you pass control of it to someone else.
Placing trust in others to hold your wealth for you is NOT what crypto is about. If you think it is, you have seriously misunderstood the entire concept.
Even if the exchange you are using is fully accredited, regulated and licenced, if the exchange ever becomes insolvent, you are merely an unsecured creditor. Look that up if you don't know what it means. Then look up what order creditors get paid in when a company becomes insolvent. You are not at the front of the queue.
And if something happens to Tether itself, my impression is you get nothing. I don't see any line you can join which allows you to get your money back. It's just gone.
Placing trust in others to hold your wealth for you is NOT what crypto is about. If you think it is, you have seriously misunderstood the entire concept.
Even if the exchange you are using is fully accredited, regulated and licenced, if the exchange ever becomes insolvent, you are merely an unsecured creditor. Look that up if you don't know what it means. Then look up what order creditors get paid in when a company becomes insolvent. You are not at the front of the queue.
And if something happens to Tether itself, my impression is you get nothing. I don't see any line you can join which allows you to get your money back. It's just gone.
I will take down the exchanger whos not good to hold my money i dont care if my money gone then i will destroy the exvhanger i pay to right people who can use it tech perhaps thats why exchangers dont play with customer money so much
You're something special alright... Wow.
Still can't tell if you're trolling or just plain stupid, but either way, please stop talking now, k?
I really dont care i care about profit and that the exvhanger who im dealing with are honest with me i care less about fact usdt can be freezed i want my money
My money is money i care less about any laws at all all i care is cash flow to me and everybody whos responseble who im dealing with like some exchamger will take full responsebility thats what i see crypto is about
My money is money i care less about any laws at all all i care is cash flow to me and everybody whos responseble who im dealing with like some exchamger will take full responsebility thats what i see crypto is about
It's not your money when you pass control of it to someone else.
Placing trust in others to hold your wealth for you is NOT what crypto is about. If you think it is, you have seriously misunderstood the entire concept.
Even if the exchange you are using is fully accredited, regulated and licenced, if the exchange ever becomes insolvent, you are merely an unsecured creditor. Look that up if you don't know what it means. Then look up what order creditors get paid in when a company becomes insolvent. You are not at the front of the queue.
And if something happens to Tether itself, my impression is you get nothing. I don't see any line you can join which allows you to get your money back. It's just gone.
Trade can be made with the prediction.But predictions can be achieved with the previous change of price.The pot won’t fill with out the water.The price of bitcoin won’t increased without the investors.So the price variation of the bitcoin need of demand.Demand of product is made by the customers and same on bitcoin by the new investors to the crypto who keep joining market every year.
I don't think anybody should trust usdt over bitcoin, the only time I make use of usdt is whenever I want to buy a coin and am waiting for the coin to retrace to a particular price first before buying, then an always leave my money in usdt first before buying the coin but I don't trust usdt, I can never leave my money in usdt.
No one should really trust it in the first place but we could not deny that it would really be useful towards your investment steps or actions specially when you are really avoiding volatility or simply securing out your profits which it would really be normal that it would be ideal on using up USDT on this particular situation.If you are on that consideration on saving up your funds on USDT form then it wont really be that reccomendable
since we know that it isnt decentralized just like on most coins in the market.
Just utilize its actual usage and dont make it as a form of your accumulation of your assets.
Traders and alot rich traders investors are in 2 things.
Btc and usdt as USDT is safe place to hold funds but how the exchangers protect this ?
Imagine if something happens with usdt many people will lose so much that they never cant deal with crypto anymore so what is the exvhangers security plan to fully protect customers ?
As myself fully depend on usdt thats how much i trust usdt and usdc also.
People want to be in crypto if they can funds in stable coins to give them safety but if usdt not safe as there is rumours about usdt then all the crypto game will be over.
I can never sleep well if i know my money will be in volatile coins so USDT is now very important and gives confidence for investors and crypto lovers such us myself
This is actually a very frightening thing, it becomes even scarier when you realize that USDT is controlled by just one exchange and it is responsible solely for maintaining its value, which means if someday something happens to that very exchange your USDT loses its value. And it's absolutely true that 70-80% of all the wealth of almost all the traders is kept in such stablecoins, which means one shock in such coins is enough to shake all your wealth, I remember such a thing happening a few years back when bitcoin jumped by almost 3000$ from 7k to around 9k after there was a news regarding some abnormality with USDT. Btc and usdt as USDT is safe place to hold funds but how the exchangers protect this ?
Imagine if something happens with usdt many people will lose so much that they never cant deal with crypto anymore so what is the exvhangers security plan to fully protect customers ?
As myself fully depend on usdt thats how much i trust usdt and usdc also.
People want to be in crypto if they can funds in stable coins to give them safety but if usdt not safe as there is rumours about usdt then all the crypto game will be over.
I can never sleep well if i know my money will be in volatile coins so USDT is now very important and gives confidence for investors and crypto lovers such us myself
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