Topic: Does the bitcoin community currently trust Tether? - page 2. (Read 571 times)
I have no trust for Tether most especially to save my funds I would rather covert my funds Into it and sell out to fiat, stable coin like usdt are only needed in terms of payment measurements where a trader needed a fix value amount to detect if really he got exact values and after which they would make their investment to any other cryptocurrency so, likely the recent developments and turbulences has made trust to fail drastically on those centralized currencies. I do not trust any stable coin.
I can only use Tether for something like converting the crypto that I'm having to get from exchanges because it could be the safest thing to keep temporarily when you have some coins that are experiencing some kind of panic selling which will lower their price drastically and the means to save your money is to convert it to Tether first and let it be there until you want to withdraw it. But you cannot hold it there for too long because the nature of Tether is not like bitcoins, because they can block it or make it priceless if something goes wrong on their part.
Not only USDT but almost all centralized stablecoins are unreliable, but since they are the bridge that makes it easy for us to convert from fiat to other cryptocurrencies, we still use them on a daily basis.
This is the riskiest investment market, so you don't need to trust them too much, you only need to use them when necessary and never hold them for long because no one knows what will happen in this market. Use them wisely and don't trust anyone in this market.
This is the riskiest investment market, so you don't need to trust them too much, you only need to use them when necessary and never hold them for long because no one knows what will happen in this market. Use them wisely and don't trust anyone in this market.
The only "cryptocurrency" that I trust is bitcoin. There are no altcoins or stablecoins that are as trustworthy as bitcoin.
Literally anything can happen with any of those coins. Stable coins are no exception because of collapse of LUNA and FTT.
In fact USDT has been having rumors of faking their reserves since a long time now and so we can never trust it.
I personally don't hold any stable coins because I prefer to hold BTC and ETH more than any other coins.
Literally anything can happen with any of those coins. Stable coins are no exception because of collapse of LUNA and FTT.
In fact USDT has been having rumors of faking their reserves since a long time now and so we can never trust it.
I personally don't hold any stable coins because I prefer to hold BTC and ETH more than any other coins.
Since you've said about comfortability, I'm not comfortable holding assets in USDT and that's why I don't hold any of it. And if I want to have a stablecoin, I've got another preference for it. Maybe it could be USDC, BUSD, or DAI. Yeah, the two are also centralized but that's it.
If that's just a preference, I'd rather have any of the two than to have it on USDT.
DAI is a wrapped USDC If that's just a preference, I'd rather have any of the two than to have it on USDT.
https://daistats.com/#/
I have no reason to distrust USDT, I keep this as my trading pair for many years (BTC/USDT).
If you're just using it for trades, there's no problem with it. We're all free to use it as a pair since we're still going to take our money depending to our preference, be with bitcoin or any other preferred altcoin we do and even still USDT. 
Since you've said about comfortability, I'm not comfortable holding assets in USDT and that's why I don't hold any of it. And if I want to have a stablecoin, I've got another preference for it. Maybe it could be USDC, BUSD, or DAI. Yeah, the two are also centralized but that's it.
If that's just a preference, I'd rather have any of the two than to have it on USDT.
DAI is a wrapped USDC If that's just a preference, I'd rather have any of the two than to have it on USDT.
https://daistats.com/#/
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All stablecoins are owned by large companies in the crypto market. And the risks of losing money are always present, because the owners of these large companies know much more than crypto-hamsters like us. Some of the coins need to be stored in the cache.
Your trust in a cryptocurrency is not solely indicative or related to how much coin you hold with them, but rather your overall comfortability and blessing given to an entity to decide present and future factors in your life.
What kind of trust can we talk about when we're talking about a completely centralized asset that can lock up your funds at any time? You can't trust USDT 100%, and if you hold this asset, you have to assume all the risks associated with a centralized stablecoin. People, when they use USDT, do not think about trust, but rather about comfort, because this asset is widely available on the market and has good liquidity.
Bitcoin cut intermediaries. If someone wants to transact, they are freely able to do it without any financial institution. With that in mind, the main take of OP is completely the opposite of what Bitcoin could give.
You are hardly able to change things with USDT due to how the way the token operates and how it is controlled. While on the other hand, within Bitcoin you can decide and participate by yourself in the ecosystem directly. Simply run a node, and voila! A thing you can't do with Tether. So to ask such questions with a truly distinct comparison, the communities are hardly giving any trust.
You are hardly able to change things with USDT due to how the way the token operates and how it is controlled. While on the other hand, within Bitcoin you can decide and participate by yourself in the ecosystem directly. Simply run a node, and voila! A thing you can't do with Tether. So to ask such questions with a truly distinct comparison, the communities are hardly giving any trust.
I have no reason to distrust USDT, I keep this as my trading pair for many years (BTC/USDT).
Yes, it is a stablecoin, it was centralized and controlled by someone but I'd never think it was totally risky holding this for at least a few days. Maybe if we talk about holding long-term, that is another story but if we just use it for trading, I think there is no problem, and still can be trusted.
What happened to Luna is another story, Tether is one of the top 5 coins in the market which means that many people give trust despite the negative views of stablecoins.
Yes, it is a stablecoin, it was centralized and controlled by someone but I'd never think it was totally risky holding this for at least a few days. Maybe if we talk about holding long-term, that is another story but if we just use it for trading, I think there is no problem, and still can be trusted.
What happened to Luna is another story, Tether is one of the top 5 coins in the market which means that many people give trust despite the negative views of stablecoins.
So far USDT is the oldest stablecoin and has been used by traders since the start. There are however issues with USDT because we are really unsure if this is really audited and if it's true that they have a real USD amount held by the company.
It wouldn't be surprising if Circle or Tether will also scam just as how SBF did and no one will ever go to prison. So just a precaution, use a percentage of your stablecoin with DAI or BUSD also.
I have no reason to distrust USDT, I keep this as my trading pair for many years (BTC/USDT).
Yes, it is a stablecoin, it was centralized and controlled by someone but I'd never think it was totally risky holding this for at least a few days. Maybe if we talk about holding long-term, that is another story but if we just use it for trading, I think there is no problem, and still can be trusted.
What happened to Luna is another story, Tether is one of the top 5 coins in the market which means that many people give trust despite the negative views of stablecoins.
Yes, it is a stablecoin, it was centralized and controlled by someone but I'd never think it was totally risky holding this for at least a few days. Maybe if we talk about holding long-term, that is another story but if we just use it for trading, I think there is no problem, and still can be trusted.
What happened to Luna is another story, Tether is one of the top 5 coins in the market which means that many people give trust despite the negative views of stablecoins.
There will be more people who will respond of course, but the idea is that there are not that many people trust on tether, and not because it is a bad project, it is a good project and currently doing well and so far has done well. So, why would people not have a trust on something that has been around for years and proven only success and trust?
Well, because in crypto world you could see something going great, and then it would end up being terrible in the long run and would not be doing great and suddenly crash. The latest examples would be FTX and Luna, they were amazing up until they crashed, which shows you never to trust something just because it is going great.
Well, because in crypto world you could see something going great, and then it would end up being terrible in the long run and would not be doing great and suddenly crash. The latest examples would be FTX and Luna, they were amazing up until they crashed, which shows you never to trust something just because it is going great.
Amidst all the fire, people are wondering where it will spread next.
Trust can mean many things. Overall, it is assured reliance on the character, ability, strength, or truth of someone or something. In this case, I want to gauge how much this community currently trusts Tether ($USDT). Before answering the poll, consider the following:
Your trust in a cryptocurrency is not solely indicative or related to how much coin you hold with them, but rather your overall comfortability and blessing given to an entity to decide present and future factors in your life.
While not many people have voted on the poll it still shows the sentiments the community has towards this coin.Trust can mean many things. Overall, it is assured reliance on the character, ability, strength, or truth of someone or something. In this case, I want to gauge how much this community currently trusts Tether ($USDT). Before answering the poll, consider the following:
Your trust in a cryptocurrency is not solely indicative or related to how much coin you hold with them, but rather your overall comfortability and blessing given to an entity to decide present and future factors in your life.
Over the years there has been many doubts about whether there is a one to one relationship between the tokens in circulation and the dollars that back it, and while they have tried to show there is in fact such a relationship I think there is enough evidence to show that at some point in time this was not the case, and if this has already happened once then it could always happen in the future again.
I have not used this stablecoin from its inception until now. Yeah, I don't remember a time I had USDT in my wallet or anywhere, even in exchange.
I usually just use XRP instead if I want to move it from one coin to another. Some will say using USDT in trading is to avoid being confused about the price range and the movements but I don't agree with it.
Trust? I don't think I trust it as I said, I have never used it yet and I think I am better off keeping it that way.
The negativity spread here in the forum about it may have an impact on why.
I usually just use XRP instead if I want to move it from one coin to another. Some will say using USDT in trading is to avoid being confused about the price range and the movements but I don't agree with it.
Trust? I don't think I trust it as I said, I have never used it yet and I think I am better off keeping it that way.
The negativity spread here in the forum about it may have an impact on why.
Since you've said about comfortability, I'm not comfortable holding assets in USDT and that's why I don't hold any of it. And if I want to have a stablecoin, I've got another preference for it. Maybe it could be USDC, BUSD, or DAI. Yeah, the two are also centralized but that's it.
If that's just a preference, I'd rather have any of the two than to have it on USDT.
If that's just a preference, I'd rather have any of the two than to have it on USDT.
Most of us are aware that there is not enough liquidity to pugged USDT, and therefore if problems occur, there is not enough support, meaning 1:1.
But the reason for use is the high levels of liquidity, as you will find this currency in most platforms.
So, when the liquidity is high, you will not find a use for that currency.
On the level of trust, I personally trust in USDC, DAI more than USDT.
But the reason for use is the high levels of liquidity, as you will find this currency in most platforms.
So, when the liquidity is high, you will not find a use for that currency.
On the level of trust, I personally trust in USDC, DAI more than USDT.
I don't trust usdt or any other stablecoin claiming to be the best. To me they are all controlled by someone or group which makes them not trustworthy.
Although I used it now and then probably because it was the first or among the first stablecoin in the market.
Ever since I came to the awareness that usdt is not 100% fully backed, I try to limit my usage. Whenever the need arise, I change my assets to the currency am more comfortable with.
Although I used it now and then probably because it was the first or among the first stablecoin in the market.
Ever since I came to the awareness that usdt is not 100% fully backed, I try to limit my usage. Whenever the need arise, I change my assets to the currency am more comfortable with.
Interesting community of bitcoiners on this forum. No one trusts Tether, but absolutely everyone uses it. This also means that if people use dollars (Tether), then they don't trust bitcoin (afraid that the price will fall and they will lose dollars, which they don't trust). Perhaps this paradox could be called hypocrisy. Why use something you don't trust?
Tether USDT is still known as a good stablecoin. But it cannot be trusted 100%. Not only USDT but any crypto can't be trusted 100%. I personally never hold my money in one currency. I hold 20% of all my money in stablecoins, 20% in bitcoins, 50% in fiat money and 10% in other altcoins. I consider this to be a correct calculation and I am personally comfortable with it . I don't know how others manage their money but I am satisfied with it
In my case, I am only using USDT in my trading activities, like my coins converted to USDT.
It is because that's what I used to convert to my fiat currency in p2p services.
Not really holding stable coin for long-term purposes, as I can't trust this coin for long-term holding.
I always get reminded of the 2019 Tether admission that they were not fully backed in terms of assets.
So right now, I am not confident if they are indeed having that more than $65B in assets as this is their current circulating supply.
Tether USDT is still known as a good stablecoin. But it cannot be trusted 100%. Not only USDT but any crypto can't be trusted 100%. I personally never hold my money in one currency. I hold 20% of all my money in stablecoins, 20% in bitcoins, 50% in fiat money and 10% in other altcoins. I consider this to be a correct calculation and I am personally comfortable with it . I don't know how others manage their money but I am satisfied with it
the volume of USDT is just too high you can't believe only few of us trust it.
because so many stablecoin today, people perhaps have diversified stablecoin also, i can see many people are in the p2p buying BUSD.
USDC and BUSD comes next to tether in the rank of stablecoin.
we are already aware of the situation where Tether was frozen in a wallet. that just leave people paranoid especially if they have huge amount of it.
because so many stablecoin today, people perhaps have diversified stablecoin also, i can see many people are in the p2p buying BUSD.
USDC and BUSD comes next to tether in the rank of stablecoin.
we are already aware of the situation where Tether was frozen in a wallet. that just leave people paranoid especially if they have huge amount of it.
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