Do You trust Tether (USDT) Stablecoin? - page 8.

Abiky

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Quote from: mich on August 08, 2023, 02:38:53 AM

Well I do trust USDT and there is some good news for the top stablecoin. A US court has decided to dismiss the class action lawsuit against Tether and issuing exchange Bitfinex.

Tether did publicly said it has $3.3 Billion in reserves. And that it is backed 1 to 1 with US dollar. If there is a coin that wins in a court case then we can trust it

https://dailyhodl.com/2023/08/06/us-court-dismisses-class-action-lawsuit-against-bitfinex-and-tether/

As long as Tether complies with the law, there should be nothing to worry about. The issuing company must do everything possible to make investors whole if a crash happens in the future. Sort of like what Circle did when USDC lost its peg for a short period of time. If there was some sort of insurance or guarantee that I'll get my money back no matter what, I'd be sold.

So far, USDT has been holding its peg to the USD with no signs of decline. It's the pioneer in the stablecoin industry after all. This gives USDT first-mover advantage among its competitors. With US regulators weighting on the industry, stablecoins will be ready for mainstream adoption. Maybe USDT will eventually replace the US Dollar? Just my thoughts Grin

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Tether (USDT) is a type of cryptocurrency known as a stablecoin, which is designed to maintain a stable value by pegging its price to a traditional currency or a commodity like the US Dollar or other fiat currencies. The idea is to provide a more predictable value compared to other cryptocurrencies like Bitcoin or Ethereum!
Many traders trust this coin!
But i think, No coin in the crypto world is risk free be it stable coin or unstable coin! A few days ago, We saw the crash of Luna - Stable Coin (USTC). So, I don't consider any coin to be risk free in the ceypto univers!
This is my personal opinion!

RiverBoy

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The cryptocurrency market is growing everyday by day as more projects are also lunch in the cryptocurrency space, USDT has been a long term stable coin which many cryptocurrency traders and investors has been using in defense, I mean to maintain the assets value when market going down, then Tether we play a good role on that, which have been trusted, they're other stable coin like BUSD is a stable coin and is also a strong stable coin in the ecosystem.

mich

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Well I do trust USDT and there is some good news for the top stablecoin. A US court has decided to dismiss the class action lawsuit against Tether and issuing exchange Bitfinex.

Tether did publicly said it has $3.3 Billion in reserves. And that it is backed 1 to 1 with US dollar. If there is a coin that wins in a court case then we can trust it

https://dailyhodl.com/2023/08/06/us-court-dismisses-class-action-lawsuit-against-bitfinex-and-tether/

Abiky

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Quote from: albon on July 18, 2023, 05:20:42 PM

Yes, I trust the USDT currency as a dominant stablecoin in the market; it has a huge market cap, and it is the third largest currency in CMC, and so far; it has survived for 9 years since its launch in 2014, and it is entirely different from other algorithmic currencies, although we should not trust a centralized stablecoin by 100%, because before there were many FUDs spread around USDT about its stability, transparency, and the Tether’s headquarters, and there were many cases of temporary de-pegging. Still, soon the USDT team processed the price to reach 1:1 against the US dollar, so it is better to diversify our wallet with other good alternatives of stablecoins if we have large capital and do not leave it in the USDT coin only.

Tether may be the oldest stablecoin around, but that's not a guarantee it will always be valued at $1. Anything can make it collapse in the future. After all, USDT is a centralized stablecoin. It's best to diversify your investment into various stablecoins for complete peace of mind. Or if you want to avoid the risks of holding a stablecoin, cash out to Fiat instead.

Stablecoins are only suitable for day trading and for short-term protection against market volatility. But for long-term wealth preservation, I'd suggest you look elsewhere. Who knows how long Tether will be able to hold its peg against the USD? Just my opinion

Hildentine

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Offcourse i am Trust Tether USDT Stablecoin because its a very strong project and huge amount of people use this its a very great team and the project is real some time some fake news are survive around but if any confirm news not come so easily use this .

coinerer

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Quote from: |MINER| on August 04, 2023, 03:04:39 PM

To be honest, If you want to trade in cryptocurrency, you need to keep an eye on all the coins and analyze how they are moving. Because any kind of incident or drama can happen in the market at any time, such incidents have already happened many times in this market. However, I don't think anyone would call the coin you are trying to talk about here, the stable coin USDT, a scam. Although many allegations have come against them, they have finally overcome them. Still there is a saying in cryptocurrency but invest as much as you can afford to loose

No cryptocurrency coin is 100% trusted and neither is Bitcoin 100% trusted. So how can we fully trust USDT in that case. Crypto world is very risky so we have to accept the risk and use them and hold crypto. USDT is a user friendly stablecoin it is still very popular and I have been using it for a long time without facing any problem yet. there are many good stablecoins in the crypto market like USDC, BUSD, DAI so one can choose any coin it's their personal choice. But no matter where someone hold their money, they must know how to afford losses

cute nmp

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Sure I do trust Tether(USDT) more than anything in cryptocurrency, More than half of my portfolio is in usdt especially now that we are in a bear market and most altcoins are continuously falling day by day, don't usually hold anything for a long now usually sells my assets and converts them into stablecoins for safety and it has saved me from taking so many losses this year.

fmz89

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there is no stable coin this day is safe, even usdc regulated stable coin can depeg when bank run, tether is oversea company
you cannot seeing the truth behind it. before usdt i saw collapse algoritmic stable coin "NuBits" failed and die. this makes me avoid luna stable coin, thats horrible events caugh many people.

Mehedi72

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Have a look on usdt market. It is still heavily being treaded. Such negative prediction aren’t new, i've been reading such news since many years but usdt is still safely treading yet. there are possibilities to freeze usdt in your own wallet, i know but I'm holding usdt on exchange account for trade without having any hesitation. But if you hesitate then usdc, busd are trustable stable coins to trade with

mich

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Well I do trust Tether to be best stablecoin. But it did not keep its promise to spend 15% of its net profits in Bitcoin to diversify its reserves.
But I do still think it is best stabelcoin. It is not a scam project like some who make promises and do not keep them.
https://crypto.news/tethers-btc-portfolio-expands-but-falls-short-of-public-pledge/

milewilda

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Quote from: nelson4lov on August 04, 2023, 03:44:11 PM

Quote from: |MINER| on August 04, 2023, 03:04:39 PM

To be honest, If you want to trade in cryptocurrency, you need to keep an eye on all the coins and analyze how they are moving. Because any kind of incident or drama can happen in the market at any time, such incidents have already happened many times in this market. However, I don't think anyone would call the coin you are trying to talk about here, the stable coin USDT, a scam. Although many allegations have come against them, they have finally overcome them. Still there is a saying in cryptocurrency but invest as much as you can afford to loose

USDT has been one of the most controversial stablecoins in the space, I'm always surprised that it manages to survive irrespective of the amount of fud being thrown at it. The biggest issue with USDT is that it's supply and demand is managed by a centralized entity which introduce a single point of failure or coordination (which is a problem that bitcoin and other decentralized protocols have worked so hard to fix) but then, decentralized alternatives still have a long way to go.

Yes, lets point out some of those issues or given out some links;

Why tether and stablecoin USDT have become a big crypto worry
The Coin That Could Wreck Crypto
The Tether controversy, explained

Same as you, i do still wonder on why these stablecoins are really that gaining that much support and recognition? Because its pegged on USD which from the word itself stable then
it would be normal that people would really be used up since we would really be looking for something that could really save us from volatility on the time that we do trade up some
pairs. Despite of these cons but still people do really look forward on using this but of course everything does have the risks no matter which way you would really be going to.

nelson4lov

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Quote from: |MINER| on August 04, 2023, 03:04:39 PM

To be honest, If you want to trade in cryptocurrency, you need to keep an eye on all the coins and analyze how they are moving. Because any kind of incident or drama can happen in the market at any time, such incidents have already happened many times in this market. However, I don't think anyone would call the coin you are trying to talk about here, the stable coin USDT, a scam. Although many allegations have come against them, they have finally overcome them. Still there is a saying in cryptocurrency but invest as much as you can afford to loose

USDT has been one of the most controversial stablecoins in the space, I'm always surprised that it manages to survive irrespective of the amount of fud being thrown at it. The biggest issue with USDT is that it's supply and demand is managed by a centralized entity which introduce a single point of failure or coordination (which is a problem that bitcoin and other decentralized protocols have worked so hard to fix) but then, decentralized alternatives still have a long way to go.

|MINER|

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To be honest, If you want to trade in cryptocurrency, you need to keep an eye on all the coins and analyze how they are moving. Because any kind of incident or drama can happen in the market at any time, such incidents have already happened many times in this market. However, I don't think anyone would call the coin you are trying to talk about here, the stable coin USDT, a scam. Although many allegations have come against them, they have finally overcome them. Still there is a saying in cryptocurrency but invest as much as you can afford to loose

Zaichonok

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Quote from: Jateng on July 18, 2023, 11:42:27 PM

Quote from: ashslm on February 09, 2023, 03:46:27 AM

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.

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!

The reason is that Tether (USDT) a stablecoin among other cryptocurrencies has been garnering significant attention but somehow raising questions about its transparency. Even though it maintains its loyalty to the US dollar but the questions remain about its reserves. I think Its extensively adoption and high liquidity continue to make Tether USDT more popular despite the persistent controversy. In my experience I find it easy in Gold-backed Stablecoins when it comes to establishing credibility. By being backed by gold reserves these digital currencies provide stability and confidence to investors that why gold stablecoin stands out as a steadfast and trustworthy option in an ever changing digital financial world meeting the need for reliability amid the complexity of cryptocurrencies.

Tether is the most popular stablecoin but nobody knows if Tether as a stablecoin really backed by us dollar, and what is the dollars reserve of Thether. They do not public the regular reports about their reserve and if there are any reports all of them are too old. That is why there is no trust to Tether. Ispite there is no trust people continue to use Tether.

Jateng

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Quote from: ashslm on February 09, 2023, 03:46:27 AM

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.

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!

The reason is that Tether (USDT) a stablecoin among other cryptocurrencies has been garnering significant attention but somehow raising questions about its transparency. Even though it maintains its loyalty to the US dollar but the questions remain about its reserves. I think Its extensively adoption and high liquidity continue to make Tether USDT more popular despite the persistent controversy. In my experience I find it easy in Gold-backed Stablecoins when it comes to establishing credibility. By being backed by gold reserves these digital currencies provide stability and confidence to investors that why gold stablecoin stands out as a steadfast and trustworthy option in an ever changing digital financial world meeting the need for reliability amid the complexity of cryptocurrencies.

albon

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Yes, I trust the USDT currency as a dominant stablecoin in the market; it has a huge market cap, and it is the third largest currency in CMC, and so far; it has survived for 9 years since its launch in 2014, and it is entirely different from other algorithmic currencies, although we should not trust a centralized stablecoin by 100%, because before there were many FUDs spread around USDT about its stability, transparency, and the Tether’s headquarters, and there were many cases of temporary de-pegging. Still, soon the USDT team processed the price to reach 1:1 against the US dollar, so it is better to diversify our wallet with other good alternatives of stablecoins if we have large capital and do not leave it in the USDT coin only.

JunkieMiner

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Most of the people that is in crypto uses the USDT as their stable coin, and mostly you have seen whether in Binance or other exchanges people mostly trades in USDT pair. Through this I can give you a suggestion that USDT can be better instead of some other stable coins like DAI i can say.

Abiky

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Quote from: Hispo on July 16, 2023, 07:45:12 PM

It may sound ironic but to this day I still prefer to use BUSD instead Tether when comes to stablecoins. Even when getting sued by the SEC, BUSD has managed to keep its peg and continues to deliver FIAT in exchange of their tokens in a reliable way, that is specially remarkable considering it is a coin which is not allowed to print more tokens as the lawsuit against them does not resolve. The circulating supply continues to decrease and the peg holding its place can be translated to a positive future for this stable-coin in the case Paxos proves BUSD is not a unregistered security whatsoever.

BUSD to this day has proven that was always fully backed.

BUSD is not as widely accepted as USDT is. It's not a multi-chain stablecoin, and it's currently facing issues with the SEC. Tether (USDT) has first-mover advantage, so it has everything necessary to retain its place on the market for a long time. The world's largest stablecoin by market cap hasn't lost its peg to the USD yet. Regulatory-compliance is the key for long term success of any stablecoin.

Let's see if Tether will be able to meet the everyday challenges of US regulatory agencies, in a highly-evolving industry. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my opinion

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I believe and I still use it to this day. there is no reason for me not to trust tether, tether is the most popular stable coin at the moment and has the biggest market cap at the moment. I think for now tether can be called the king of stable coins.

Topic: Do You trust Tether (USDT) Stablecoin? - page 8. (Read 3112 times)