Do You trust Tether (USDT) Stablecoin? - page 13.

sunsilk

hero member

Activity: 3038

Merit: 634

Quote from: poodle63 on May 24, 2023, 07:42:12 PM

some people were distrusting this one but i have been trusting this since a few years ago. Im actively using USDT to transfer in the daily basis and yeah nothing happened with it. What's the problem then?

Those controversies where Tether has been involved, those issues can't be avoided when their treasury hasn't been clear if they've got enough reserve funds. That's where people and the regulators were worried about.

But when things are starting to get clear and it's likely been verified with the funds that they've got for backing it up as pegged in USD. Things are changing.

Quote from: poodle63 on May 24, 2023, 07:42:12 PM

I see no reason for people not to use this stable coin. USDT is as good as another regulated stable coin. Even though the haters will always there and USDT will still exist.

For traders, investors and holders.

This is actually ideal for those that have got funds ready to retain their value. The conversion of their assets into Tether makes them secured from any volatility and that's what this stable coin is all about.

JeffBrad12

hero member

Activity: 2898

Merit: 529

Leading Crypto Sports Betting & Casino Platform

Quote from: Boomber on May 21, 2023, 08:17:40 AM

I personally don't trust in stablecoin (including USDT), because stablecoin also have risks (the price can crash like UST) and of course that can also happen to USDT (although the probability is very small), but still USDT have risks, therefore I never use stablecoin and always save my money in Bitcoin, because Bitcoin and stablecoin both have risks, but at least Bitcoin can give me profit and stablecoin can't give me profit.

well there's certainly some edge where you will definitely need to make some preservation in your wealth and that's when stablecoin come in handy, even though you don't trust stablecoin in general.
just using it temporarily for preserving the value of your investment will only bring benefits and eliminate disadvantages.
after all you only gonna convert it again at the end of the day, it only become a mess only if you decide to just keep your USDT for a whole year or more then there's risk that something obscure might be happening to your investment.
but generally if it's only for temporary means of saving wealth from the volatility, it's gonna be fine.

poodle63

hero member

Activity: 2702

Merit: 510

Leading Crypto Sports Betting & Casino Platform

some people were distrusting this one but i have been trusting this since a few years ago. Im actively using USDT to transfer in the daily basis and yeah nothing happened with it. What's the problem then?

I see no reason for people not to use this stable coin. USDT is as good as another regulated stable coin. Even though the haters will always there and USDT will still exist.

bittick

hero member

Activity: 2296

Merit: 506

Cryptocasino.com

if this stablecoin with humongous market capitalization that has been quite literally become the pioneer of stablecoin can't be trusted, then i wonder which stablecoin can be trusted.
i'd say i will just trust it until some strange things happening like the money supposed to be reserved isn't equal with circulating supplies.

Ahli38

hero member

Activity: 854

Merit: 743

Quote from: bayudndy on May 24, 2023, 03:39:06 PM

Of course I believe in tether; I've been using it ever since I got into this market and have traded around with it many times on various blockchains. That's great that it meets my needs and doesn't disappoint when I use it. Around USDT, there are still other currencies like USDC or BUSD, but USDT is still something more prominent. Also, many people prefer to use USDT for p2p exchange.

In the last year I trust BUSD more. But after a piece of fud news about Paxos circulated, I left BUSD and switched to USDT. Yes, because this stablecoin is the only stablecoin that still looks strong today.

But even though I currently use Usdt, that doesn't mean I fully trust Usdt. It's just that the best choice for now is Usdt. And I also read about Usdt that will continue to accumulate BTC for their reserve assets. I forgot to put the news link where. maybe I'll link to it when I find it. but basically I think the news is a positive thing for Usdt.

bayudndy

full member

Activity: 824

Merit: 104

PredX - AI-Powered Prediction Market

Of course I believe in tether; I've been using it ever since I got into this market and have traded around with it many times on various blockchains. That's great that it meets my needs and doesn't disappoint when I use it. Around USDT, there are still other currencies like USDC or BUSD, but USDT is still something more prominent. Also, many people prefer to use USDT for p2p exchange.

southerngentuk

sr. member

Activity: 1316

Merit: 254

Sugars.zone | DatingFi - Earn for Posting

Their existence to this day has affirmed their important position in the electronic convenience market. Tether has made the market so much bigger. It is true that there is still a lot of confusion with them, but the fact that people continue to use them proves their trust, and this coin does a big thing that many coins cannot do. So there is no reason not to trust it and use it in trading. In addition, it is not necessary to use USD; it is still USD or other currencies in the generation system. So diversity is not dependent on a certain currency because capital is used for the sake of balance.

deepblue01

full member

Activity: 826

Merit: 117

Quote from: Amejoaquim on May 18, 2023, 03:01:54 AM

I don’t trust any stablecoin anymore.
UST failed, USDT is shady, USDC de-pegged because of its vulnerability to banks, BUSD is being attacked by regulators, DAI is backed by other stablecoins.

it's messy right. i think each stable coin fighting among themself to get profit and they are the one who fully backed by USD.
I think history will repeat it self
what if tether leave fiat money?I know this speculation from the long term and I believe it will happen sooner or later

lobo13hf

hero member

Activity: 2268

Merit: 507

stablecoin that are reputed like USDT i could see hardly gonna fail, they aren't just gonna suddenly vanish it's no different with usdt, it has been number 1 stablecoin since long ago.
therefore i'd say i trust stablecoin to some length.

podluznyj

member

Activity: 378

Merit: 44

Quote from: Boomber on May 21, 2023, 08:17:40 AM

I personally don't trust in stablecoin (including USDT), because stablecoin also have risks (the price can crash like UST) and of course that can also happen to USDT (although the probability is very small), but still USDT have risks, therefore I never use stablecoin and always save my money in Bitcoin, because Bitcoin and stablecoin both have risks, but at least Bitcoin can give me profit and stablecoin can't give me profit.

yes, it’s clear that there are always risks not only USDT, they are, I mean risks on all stemloids, I have no complaints about USDT, but I don’t pay much attention, that is, I don’t buy and don’t sell, how to say I have a neutral attitude, in principle except for ethereum and bitcoin, I don’t buy or sell, and no bnb is also not a bad asset for today

smile1218

full member

Activity: 406

Merit: 100

Tether (USDT) is one of the most widely used stable coins in the crypto currency market. While there have been concerns raised about its transparency and backing, Tether has consistently maintained that each USDT token is backed by a corresponding US dollar held in reserve. But still it would depend on individual whether to trust or not to trust Tether because it is a decision that each individual must make for themselves based on their own research and risk tolerance.

Boomber

full member

Activity: 826

Merit: 100

Tontogether | Save Smart & Win Big

I personally don't trust in stablecoin (including USDT), because stablecoin also have risks (the price can crash like UST) and of course that can also happen to USDT (although the probability is very small), but still USDT have risks, therefore I never use stablecoin and always save my money in Bitcoin, because Bitcoin and stablecoin both have risks, but at least Bitcoin can give me profit and stablecoin can't give me profit.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: mich on May 19, 2023, 01:32:32 AM

Well, now there is more people going to trust Tether. They have kept their promise. It has spent 15% of it's profit buying $222 Million in Bitcoin.

https://www.cnbc.com/2023/05/17/tether-buys-222-million-worth-of-bitcoin-to-back-its-usdt-stablecoin.html

Isn't that the same thing Terra/LUNA did with the UST stablecoin a while ago? That lead it to failure as the Luna Foundation Guard was unable to restore the peg even with its BTC holdings. This is a dangerous move from Tether that could lead the crypto market towards complete disaster in the future. If USDT goes down, all hell will break lose. Things will be worse because the company will sell its BTC holdings to try to rescue the stablecoin's peg to the USD. A huge crash awaits for BTC and other coins if this happens.

Let's hope there isn't another banking crisis that would destroy stablecoins for good. I'd trust Fiat instead of a stablecoin because it's backed by the full faith and credit of the government. Who knows if these things become history in the not-so-distant future? Just my opinion

noormcs5

hero member

Activity: 2758

Merit: 617

Leading Crypto Sports Betting & Casino Platform

Quote from: Dr.Osh on May 19, 2023, 01:52:16 AM

Quote from: DeathAngel on May 13, 2023, 04:48:31 PM

Tether has over 2 billion $ in reserves surplus. They have a multi year record of trust & transparency, you can definitely trust them.

@Tether_io
Tether's Latest Q1 2023 Assurance Report Shows Reserves Surplus At All-Time High of $2.44B, up $1.48B in Net Profit; New Categories for Additional Transparency Reveals Bitcoin and Gold Allocations.

https://tether.to/en/tethers-latest-q1-2023-assurance-report-shows-reserves-surplus-at-all-time-high-of-244b-up-148b-in-net-profit-new-categories-for-additional-transparency-reveals-bitcoin-and-gold-allocations/

https://twitter.com/tether_to/status/1656299990367576072

well, it is the most trusted stable of coins till date. even the volume and transactions seem to be the biggest so far for stable coins. among all the stable coins, I also use USDT as one of the stable coins that I regularly use for transactions. It's just that I never thought about holding my assets into USDT long term. although reliable, there is still quite a lot of FUD circulating regarding stable coins. however, I still use USDT from the past until now.

USDT is the most widely used stable coin till now. Though there were some rumors and FUD that is not fully backed but then I would like to ask that is the US dollar fully backed by gold. I don't think so.
US government printed dollars without any reason just like more Tether gets into circulation.

Even if anyone who do not have full trust in USDT, there is no other option for him as none other stable coin can be safely used. Even USDC had problems recently and Binance does not promote BUSD even and rather it promotes TUSD Shocked

Dr.Osh

legendary

Activity: 2758

Merit: 1004

PredX - AI-Powered Prediction Market

Quote from: DeathAngel on May 13, 2023, 04:48:31 PM

Tether has over 2 billion $ in reserves surplus. They have a multi year record of trust & transparency, you can definitely trust them.

@Tether_io
Tether's Latest Q1 2023 Assurance Report Shows Reserves Surplus At All-Time High of $2.44B, up $1.48B in Net Profit; New Categories for Additional Transparency Reveals Bitcoin and Gold Allocations.

https://tether.to/en/tethers-latest-q1-2023-assurance-report-shows-reserves-surplus-at-all-time-high-of-244b-up-148b-in-net-profit-new-categories-for-additional-transparency-reveals-bitcoin-and-gold-allocations/

https://twitter.com/tether_to/status/1656299990367576072

well, it is the most trusted stable of coins till date. even the volume and transactions seem to be the biggest so far for stable coins. among all the stable coins, I also use USDT as one of the stable coins that I regularly use for transactions. It's just that I never thought about holding my assets into USDT long term. although reliable, there is still quite a lot of FUD circulating regarding stable coins. however, I still use USDT from the past until now.

mich

legendary

Activity: 3122

Merit: 1032

#1 VIP Crypto Casino

Well, now there is more people going to trust Tether. They have kept their promise. It has spent 15% of it's profit buying $222 Million in Bitcoin.

https://www.cnbc.com/2023/05/17/tether-buys-222-million-worth-of-bitcoin-to-back-its-usdt-stablecoin.html

Dave1

hero member

Activity: 1414

Merit: 542

And now Tether said that they are going to buy BTC,

Quote

Stablecoin issuer Tether will regularly buy bitcoin (BTC) for its stablecoin reserves using a portion of its profits starting this month as part of a new investment strategy focused on the largest cryptocurrency by market capitalization, the firm announced on Wednesday.

Tether said it will allocate up to about 15% of the realized profits from investments – excluding any unrealized price appreciation of its reserve assets – to purchase BTC and will add the tokens to the reserve surplus.

https://www.coindesk.com/business/2023/05/17/tether-says-it-will-buy-bitcoin-for-stablecoin-reserves-using-realized-profits/

So not sure if this is a good news for us, or this will stay others to somewhat put a "trust" on Tether or their USDT because now they have more backup or reserves money put into BTC for good measures.

Of course, others may said that this is just marketing for them, but in any case, it's good to hear another company putting money on BTC as investments. So it's a win win for us.

Amejoaquim

full member

Activity: 924

Merit: 100

I don’t trust any stablecoin anymore.
UST failed, USDT is shady, USDC de-pegged because of its vulnerability to banks, BUSD is being attacked by regulators, DAI is backed by other stablecoins.

mich

legendary

Activity: 3122

Merit: 1032

#1 VIP Crypto Casino

Well USDT had profits of $1.5 Billion so far in first quarter of this year. And now it will use at most 15% of profits to buy Bitcoin and depends on monthly net profits.

It is just another reason for Tether to be most trusted stable coin. https://tether.to/en/tether-to-further-strengthen-reserves-through-purchase-of-bitcoin-with-realized-net-operating-profits/

Jocuserious

sr. member

Activity: 1936

Merit: 290

Petty sound good usdt also a good stable coin which is lot of helpfull token for a trader and investors. As like reason they have to run very long even usdt is the larger company even there users worldwide. If you are a crypto user then usdt is the mainly option which making good safe funding hold.

Topic: Do You trust Tether (USDT) Stablecoin? - page 13. (Read 3112 times)