Topic: Do You trust Tether (USDT) Stablecoin? - page 17. (Read 3112 times)
I personally do not fully trust any coin unless it is truly decentralised. This instantly rules out all stablecoins, including USDT. This isn't to say I won't utilise it, USDT is a very helpful tool, but I wouldn't hold large amounts of my capital in it for a long period of time. Over the years, USDT has had a lot of scam call-outs, as you can see people discussing in this thread, but it has stood the test of time and, because of this, is likely the least untrustworthy stablecoin to use if you have to use one.
As it stands right now, USDT has withstood the test of time and trouble, so yes, I would trust it. Next up is USDC and then maybe BUSD
USDT may be old, but that doesn't mean it's going to last forever. After all, it's a centralized stablecoin. If the issuing company is unable to deliver as promised, then USDT will lose its peg for good. Basically, any centralized stablecoin is at risk of going all way down the drain. If it's not backed by the US government, don't count on retaining its stability anytime soon.
You'd be better off selling your crypto to USD directly for complete peace of mind. It seems that regulators will tighten their stance against stablecoins, so maybe there's hope after all? Just my opinion
I agree on certain extend but there are independent auditors who have somewhat cleared Tether and USDT and says that it is backup 1:1 and that they have extra, more money to cover the loses.
While on the other hand, there are attacks by SEC on other stable coins and somewhat deemed it as securities.
So it could be the beginning of the tightening on stable coins but I think USDT might survived in the long run, just saying.
As it stands right now, USDT has withstood the test of time and trouble, so yes, I would trust it. Next up is USDC and then maybe BUSD
USDT may be old, but that doesn't mean it's going to last forever. After all, it's a centralized stablecoin. If the issuing company is unable to deliver as promised, then USDT will lose its peg for good. Basically, any centralized stablecoin is at risk of going all way down the drain. If it's not backed by the US government, don't count on retaining its stability anytime soon.
You'd be better off selling your crypto to USD directly for complete peace of mind. It seems that regulators will tighten their stance against stablecoins, so maybe there's hope after all? Just my opinion
I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.
I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.
My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
Thanks in advance for more experienced folks for sharing their insight!
I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.
My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
Thanks in advance for more experienced folks for sharing their insight!
I never trust it, but I use it when I have to... Blockchain technology has removed our obligation to trust third parties. Now we are creating an intermediary that can put a block on our money with our own hands. We dig our own grave with our own hands, but it's okay as long as we don't fall into it. That's my whole opinion on stablecoins. I admit that they are useful, but I emphasize that they are not reliable.
For cryptocurrencies, the most reliable coin is bitcoin, the rest can't be trusted because they are all centralized, and stablecoin is one of them. But they are undeniably an integral part of the market, and we always need them, stablecoins and centralized exchanges, all of which are very important to the market.
Many people are upset and hate stablecoins and CEX, but I believe that the market would not be able to develop without them. It will be very difficult for beginners without USDT or CEX.
50% Yes 50% No.
Because they have long history and survive more times. But honestly this is a also another cryptocurrency. In crypto anything can be happen in minutes.
Because they have long history and survive more times. But honestly this is a also another cryptocurrency. In crypto anything can be happen in minutes.
I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.
I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.
My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
Thanks in advance for more experienced folks for sharing their insight!
I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.
My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
Thanks in advance for more experienced folks for sharing their insight!
I never trust it, but I use it when I have to... Blockchain technology has removed our obligation to trust third parties. Now we are creating an intermediary that can put a block on our money with our own hands. We dig our own grave with our own hands, but it's okay as long as we don't fall into it. That's my whole opinion on stablecoins. I admit that they are useful, but I emphasize that they are not reliable.
hero member
Activity: 2660
Merit: 651
Want top-notch marketing for your project, Hire me
The only benefit I see in USDT is it being the first stablecoin in the cryptocurrency market. I don't know what the crypto detectives/scam busters said about Tether but I confirmed the project to be built on lies and they also lend users funds to an exchange which I have forgotten its name now.
That's why I never trust the USDT because once bitten, twice shy.
The stablecoins I found credible in the crypto market space are DAI and BUSD but if we are talking about privacy stablecoins I will go for UUSD
That's why I never trust the USDT because once bitten, twice shy.
The stablecoins I found credible in the crypto market space are DAI and BUSD but if we are talking about privacy stablecoins I will go for UUSD
With the stablecoin status changing after the BUSD crash, even though I would trust usdt in most of my transactions, that doesn't mean trust in it is permanent. User structure will change for the upcoming stablecoin, USDT is also highly questionable with no formal audit and 850 million in tunneling with bitfinex in the past. It seems I once again acknowledge and firmly believe that decentralized stablecoins are the future of stablecoins.
I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.
I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.
My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
Thanks in advance for more experienced folks for sharing their insight!
I strongly believe in tether. I've been using it for years, and it never fails my expectations. To all the kind of stable coins in the market I prefer usdt over usdc nad busd. Just like other coins in the market like btc, eth and bnb usdt also faces different market conditions and it still there and it never vanish and that's cool about it. Also, local merchants in here accept usdt as the payment for goods. I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.
My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
Thanks in advance for more experienced folks for sharing their insight!
I was very very worried about Tether in former bull rallies. But its some sort of trustable stable coin to me after many years passed with no issues. I always liked usdc more sadly but pairs with usdt are lot more common in crypto exchanges. Its like necessary stable coin to hold in some portions because of this. In my opinion Bitfinex can back Tether many years to come so, I don't think people should be worried a lot.
Despite of the fud with stablecoin, I still see USDT as one of the good option for trading but not for your holdings since I still prefer to Hold Bitcoin than any stablecoin. If there’s another problem with stablecoin, this can ruin the trust of the public and the cryptomarket can’t afford that to happen again, USDT looks more established though and being supported by many, have this coin just you ready money to buy any crypto if there’s an opportunity. 
I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.
I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.
My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
Thanks in advance for more experienced folks for sharing their insight!
This has been asked so many times and for a millionth time I have to say no. Why do people want to trust these stablecoins? What is the purpose of "trusting them? I understand that you want to move your money to fiat and not be in crypto for a while, but why not do it with fiat directly and prefer to go with stablecoins?I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.
My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
Thanks in advance for more experienced folks for sharing their insight!
I get that there are some pairs and futures and all that which you can't do with fiat, but just don't do them as a solution? I have my money in either fiat or in crypto and that's it, no stablecoins what's so ever. Never trust stablecoins, you never need to, let them keep proving they are trustworthy over and over again and yet still don't trust them, because why would you ever need to?
I was very very worried about Tether in former bull rallies. But its some sort of trustable stable coin to me after many years passed with no issues. I always liked usdc more sadly but pairs with usdt are lot more common in crypto exchanges. Its like necessary stable coin to hold in some portions because of this. In my opinion Bitfinex can back Tether many years to come so, I don't think people should be worried a lot.
USDT is backed with ~0,03 USD per 1,00 USDT.
There are a lot of shady guys in the space of Tether. F.E. guys which were selling god's mode in online poker games on their online poker platforms.
Tether Ltd. is a mail box company.
There are a lot of shady guys in the space of Tether. F.E. guys which were selling god's mode in online poker games on their online poker platforms.
Tether Ltd. is a mail box company.
I don't know who told you this but you are spreading fud and misinformation that's only made to hurt the money inflow to crypto.
It's fully backed, not all of them are in dollar bills. Just like in a bank. You are not able to withdraw everything in dollar bills if you are rich. Or at least it will be made very hard for you and they will need a good reason for you to do so. At least it wont be instant. Anything but
Here's the latest independent audit on Tether reserves (31.12.2022):
https://assets.ctfassets.net/vyse88cgwfbl/53L8YRM4ZHCEeqlpKbc3Q8/2e6cbcd1593b3e5ea867718c5938d6c8/Std_ISAE_3000R_Opinion_BDO_31-12-2022_Tether_CRR.pdf
And i can think maybe handful of crypto companies that are brick and mortar business.
Still not close opportunity for any stable coin drop later learned from what happen with USTC as Terra Network stable coin, I sure there are not any USDT chain are stable
The biggest problem of UST stable coin is its algorithm. That is an algorithmic stable coin that is bad by design and it was more terrible by bad asset management from Terra team for their treasury. It is terrible to store funds in volatile assets and consider that your treasury will be not volatile in bad days.The bad decision of Terra team to choose between $LUNA and $UST to protect makes that collapse worse.
Quote
I like trade with BUSD pair in Binance because without fees but I converted all my assets in local fiat and not sure for longer time holding assets in stable coins.
But comparison with other stable coin kinds I think BUSD is potential for the future without get any trouble yet like USTC, but can't guarantee with how long with BUSD keep safety as stable coins assets.
Binance are creative with their products, adaptive with new trends very well but they are more impressively to be so disciplined with important things. They prioritize security of their platforms, user funds and their treasury including a part assigned for BUSD too.But comparison with other stable coin kinds I think BUSD is potential for the future without get any trouble yet like USTC, but can't guarantee with how long with BUSD keep safety as stable coins assets.
If Binance won't change their management style, I don't think their stable coin will be in crisis. Fud can come to find Binance and BUSD but won't be able to burn them to the ground.
I don't like stable assets like USDT. or even BUSD from Binance. some network developers also develop their coin stable. but I still don't like stable assets.
discussions regarding USDT issues in the past have also been very lively. but until now, there are still many of them who use it for trading. I trade on Binance. so I use BUSD. but for saving, I don't use stable assets. I keep my assets in Bitcoin. not a stable asset. I'm more comfortable with that. don't know about other traders who might prefer stable assets to store assets because the value won't experience such a large movement.
Still not close opportunity for any stable coin drop later learned from what happen with USTC as Terra Network stable coin, I sure there are not any USDT chain are stable although with your priority as BUSD. I like trade with BUSD pair in Binance because without fees but I converted all my assets in local fiat and not sure for longer time holding assets in stable coins.discussions regarding USDT issues in the past have also been very lively. but until now, there are still many of them who use it for trading. I trade on Binance. so I use BUSD. but for saving, I don't use stable assets. I keep my assets in Bitcoin. not a stable asset. I'm more comfortable with that. don't know about other traders who might prefer stable assets to store assets because the value won't experience such a large movement.
But comparison with other stable coin kinds I think BUSD is potential for the future without get any trouble yet like USTC, but can't guarantee with how long with BUSD keep safety as stable coins assets.
I don't like stable assets like USDT. or even BUSD from Binance. some network developers also develop their coin stable. but I still don't like stable assets.
discussions regarding USDT issues in the past have also been very lively. but until now, there are still many of them who use it for trading. I trade on Binance. so I use BUSD. but for saving, I don't use stable assets. I keep my assets in Bitcoin. not a stable asset. I'm more comfortable with that. don't know about other traders who might prefer stable assets to store assets because the value won't experience such a large movement.
discussions regarding USDT issues in the past have also been very lively. but until now, there are still many of them who use it for trading. I trade on Binance. so I use BUSD. but for saving, I don't use stable assets. I keep my assets in Bitcoin. not a stable asset. I'm more comfortable with that. don't know about other traders who might prefer stable assets to store assets because the value won't experience such a large movement.
Tether is definitely the most trusted stablecoin in circulation. It has been going for a long time now & has a good track record of trust & reliability.
Tether has been subject of so much regulatory & governmental pressure but it is still here standing. I dediniteoy have a level of trust in Tether.
Tether has been subject of so much regulatory & governmental pressure but it is still here standing. I dediniteoy have a level of trust in Tether.
Negative, I do not trust USDT.
USDT is backed with ~0,03 USD per 1,00 USDT.
There are a lot of shady guys in the space of Tether. F.E. guys which were selling god's mode in online poker games on their online poker platforms.
Tether Ltd. is a mail box company.
USDT is backed with ~0,03 USD per 1,00 USDT.
There are a lot of shady guys in the space of Tether. F.E. guys which were selling god's mode in online poker games on their online poker platforms.
Tether Ltd. is a mail box company.
I am not here to talk about trust instead about how I use it, USDT is the fastest way of conversion for me to get fiat so about trusting ? i care nothing as i only use this for easy conversion .
Of course I would also trust USDT as it existed already for a long time and many people use USDT if the BTC price is decreasing to maintain the value of their money. If you have $2000+ and BTC price is decreasing from $30k to $20k then buying USDT will keep your balance at $2000+ unlike keeping it in BTC where your $2000+ could be $1900+ and below.
well , Yeah it is safe to use but best not to trust for long time, maybe a scape goat when there is a dumping happening . 
I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.
I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.
My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
Thanks in advance for more experienced folks for sharing their insight!
Well for me i trust usdt i am in crypto since year 2016 and there is no big negative issue that i hear so far from usdt or in any different stable coin in crypto i think it is because it is stable it is good for staking. I believe that most of the coin that is scam is the coin that unstable or new coin that is still doing marketing not all but most or many more are scam than the legit one. I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.
My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?
Thanks in advance for more experienced folks for sharing their insight!
Jump to: