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Topic: Btc and usdt people trust - page 4. (Read 530 times)

legendary
Activity: 1638
Merit: 1156
March 23, 2022, 10:41:12 PM
#11
USDT can't be trusted 100% due to it's not backed with real USDT while they claimed the project backed with 100% USD. Also it's centralized and they can froze your tokens whatever they want.

The alternative is decentralized stablecoins e.g. DAI. The problem is many exchange doesn't have a lot DAI's pair and not really liquid, but it's safer.

If you do not trust USDT, why not use the fiat currency that is on the exchange? For example, the euro or your local currency?
Perhaps it's slower than use USDT if he want to buy Bitcoin on specific moment or his local currency highly inflate.
hero member
Activity: 2856
Merit: 769
March 23, 2022, 07:32:37 PM
#10
Btc and usdt as USDT is safe place to hold funds but how the exchangers protect this ?
BTC guys do not trust USDT. In fact, no one should trust USDT. The traders only use it for their stable value. When they think the market will go down then convert their BTC to USDT so that they can buy back. They may also convert them in USDT if they think they want to do a p2p trade to get cash and btc price is moving too much.
It should really be on this manner but i do believe that majority specially traders do really treat up USDT on saving up their asses on the time on where bitcoin is too volatile or simply securing out their

profits directly and wont tend to make it affected with volatility but treating it as a sort of storage or accumulation then i dont see for it to be safe or in any coin whether a stable one or not.
You could trust but dont give out 100% and only put up on the amount that you could afford to lose as always yet this had been always the primary rule.
legendary
Activity: 1414
Merit: 1108
March 23, 2022, 07:23:22 PM
#9
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.
There is a hilarious saying in my locality that goes, "taking panadol on someone else's headache" or "asking someone to vomit what they never ate". That's almost exactly what your asking. Mind you, all these BTC or USDT are coins one do invests in depending on there purpose.

Anything thing to note is that, those are some different projects or companies that differ from the exchanges. Exchanges only provides the needed services by listing these coins for trades and you get to invest in them because, you've found them to be of benefit to your course at any particular time.

The unforseen circumstances or unreliability of any project is one of the reasons why, your asked to always DYOR before jumping in. No exchange would be providing some security over your financial decision.
hero member
Activity: 2338
Merit: 757
March 23, 2022, 07:10:58 PM
#8
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
The conclusion that the idea that crypto game will end if usdt crashes is totally incorrect. They are not related and usdt isn't a safe asset because of technical reasons and that most of it is not backed by real dollars reserve in addition to their special design that let the devs behind it freeze any amount of USDT in any address at any time [This happened several times for good reasons but no garantees for what may happen in the future].
USDT is considered safe only by Trading means ; traders freeze their assets during big dumps. If anyone is using it otherwise, i think he is taking a risk .
legendary
Activity: 2380
Merit: 2369
March 23, 2022, 05:17:25 PM
#7
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
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.
full member
Activity: 994
Merit: 137
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March 23, 2022, 05:17:10 PM
#6
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 ?

Owning USDT is different from owning real dollars. In terms of technology, USDT is secure, but you can trust USDT as much as you trust the company issuing and supporting it. You should read what Tether actually holds in reserve to backup their tokens.
There are a number of other stablecoins available that operate in a more transparent manner.
sr. member
Activity: 1526
Merit: 412
March 23, 2022, 05:16:40 PM
#5
Crypto lovers loving USDT really sounds ironic hehe. USDT may be using blockchain technology but it's not that different from fiat if you take a deeper look. It is minted by a company that's also under the control of the Government. Exchange protection of your USDT should be the least of your concern when Tether can freeze your funds wherever they may be.
hero member
Activity: 504
Merit: 816
Top Crypto Casino
March 23, 2022, 05:11:07 PM
#4
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

If you do not trust USDT, why not use the fiat currency that is on the exchange? For example, the euro or your local currency? I understand that this action also entails certain risks, but if you do not keep savings in the stablecoin but only withdraw from other currencies to fix profits and for further reinvestment, then why not use them?
legendary
Activity: 1092
Merit: 1024
Hello Leo! You can still win.
March 23, 2022, 05:00:56 PM
#3
Btc and usdt as USDT is safe place to hold funds but how the exchangers protect this ?
You make it look as if USDT can only be stored on exchanges and it lies on the hands of the exchanges to protect and preserve it. The rumour about usdt vanish or cash is it applicable to only usdt on exchanges?
Besides, there are other stable coins.
If you think of Bitcoin and USDT being in danger, also think of crypto not existing again. Then, ensure all crypto lovers are killed, because the people move the market and not a supernatural force.
legendary
Activity: 2464
Merit: 3878
Visit: r7promotions.com
March 23, 2022, 04:45:56 PM
#2
Btc and usdt as USDT is safe place to hold funds but how the exchangers protect this ?
BTC guys do not trust USDT. In fact, no one should trust USDT. The traders only use it for their stable value. When they think the market will go down then convert their BTC to USDT so that they can buy back. They may also convert them in USDT if they think they want to do a p2p trade to get cash and btc price is moving too much.
jr. member
Activity: 224
Merit: 5
March 23, 2022, 03:19:18 PM
#1
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
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