Topic: Does the bitcoin community currently trust Tether? - page 3. (Read 576 times)
As for me, I voted that my trust in Tether is moderate, given that it is one of the best stablecoins and has the most market value in the crypto market with a market capitalization of $65,69 Billion, in addition to the fact that the price of Tether had fallen previously and his team restored its stable price again because they have huge financial reserves in emergency cases, but in my opinion, each of us should not trust any central coin, stablecoin, or central exchange platform with blind trust, given that there is a central authority that controls it. We have to distribute our money among the best other stable currencies and not put all our wealth in the USDT only, We can divide it into USDC and BUSD, and DAI.
Trust is the only thing i can do if i am hodling it. But i wouldn't store my savings in it, in a same way i wouldn't store my life savings in fiat money. Just the amount i need for trading and living.
Nope, and nope.
Never holding with a long term, I better to hold other stable assets rather than TETHER. We-all know their backup asset only around 60-70% not really 100% backup by real asset 1:1.
That's the reason, not gonna to hold with a long term.
Do you hold fiat money in your bank account in long term? Because that's backed by pure faith in a government that issued it, not in any form of assets. Never holding with a long term, I better to hold other stable assets rather than TETHER. We-all know their backup asset only around 60-70% not really 100% backup by real asset 1:1.
That's the reason, not gonna to hold with a long term.
Based on the answers, it turns out that many people don't really trust this coin! As for the stablecoins, it is unclear why they are stamped in such quantity?? In the end, anyone who wants to convert their coins or tokens to stablecoin will definitely ask the question, which one is the best?? But overall, I trust the USDT coin more than I don't trust it!
I can't find the option what I feel so I will express it here as a reply.
I don't trust ether but I do hold them.
Yeah, you heard it right I never trust the ethereum but due to trading convenience I hold a small amount of USDT so that it is easier to buy BTC or other crypto whenever I want instead of waiting for the bank transfer to be deposited which may take hours to days in certain cases.
I don't trust ether but I do hold them.
Yeah, you heard it right I never trust the ethereum but due to trading convenience I hold a small amount of USDT so that it is easier to buy BTC or other crypto whenever I want instead of waiting for the bank transfer to be deposited which may take hours to days in certain cases.
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.
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.
I personally voted that i have moderate trust in Tether. There are several reasons for that. First of all i am aware of the fact that there have been discussions about the reliability and also stability of USDT because a few years ago the company behind USDT changed the wording regarding it's backing of every USDT minted from "every USDT is backed with a real USD" to "we have enough reserves to back every USDT minted", which has left a lot of doubt and uncertainty in the crypto space.
I think they have released a little bit more information about their reserves recently but i don't know if that is enough to make all doubts disappear.
I don't trust 100% and I never keep it in my wallet for a long time.I always try to make a portfolio of alternatives in order to protect myself as much as possible if one asset loses its value.I think the last story with the collapse of the terra/luna has taught many and made them think about the preservation of their funds.
Seeing that Tether is being attacked most of the time by SEC and we are also not sure Tether's status of whether the peg is real with funds, the majority is not trusting Tether and Circle.
I kept using USDT still even with the facts. I am however confident that before USDT may even be depegged to $0.75, I can already trade them for BTC. Same with the BUSD that I'm also using in the BSC chain.
I certainly use tether but I don't trust it completely nor holding it for a long time, I personally use it for a short period of time because it's centralized and has a chance to collapse anytime given. I just like how it pairs with most common tokens I use or potentially use. Tether is pushed into different issues now and some of those issues haven't been addressed. One of the biggest issue they have is their token is not pegged 1:1 which certainly dangerous. It's been their issues since now and it's incredible that even today there are still people holding and trusting USDT.
The majority carries the vote and the majority of crypto community doesn't trust tether because they lack transparency regarding the tether backing and more.
Investment revolves around trust, and trust in any project comes when the team involved tries to do things right, and avoid hiding vital information from the public. in the case of tether, they haven't been very transparent with their backing and have drawn the attention of notable people in crypto to raise the question and request the tether team to provide the correct information regarding this, but sadly have not.
However, this does not erase the fact it is the most used stablecoin in the market.
Investment revolves around trust, and trust in any project comes when the team involved tries to do things right, and avoid hiding vital information from the public. in the case of tether, they haven't been very transparent with their backing and have drawn the attention of notable people in crypto to raise the question and request the tether team to provide the correct information regarding this, but sadly have not.
However, this does not erase the fact it is the most used stablecoin in the market.
Nope, and nope.
Never holding with a long term, I better to hold other stable assets rather than TETHER. We-all know their backup asset only around 60-70% not really 100% backup by real asset 1:1.
That's the reason, not gonna to hold with a long term.
Never holding with a long term, I better to hold other stable assets rather than TETHER. We-all know their backup asset only around 60-70% not really 100% backup by real asset 1:1.
That's the reason, not gonna to hold with a long term.
If you ask this question to Bitcoin community of course you will get "No" answer since the reason why people trust Bitcoin is due to 100% decentralized.
If you ask this question to Altcoin or shitcoins community of course you will get "Yes" answer since they will say USDT is the most trusted stablecoin due to highest market cap and every exchanges accept it.
The answer will be same if you ask the other centralized shitcoins project.
If you ask this question to Altcoin or shitcoins community of course you will get "Yes" answer since they will say USDT is the most trusted stablecoin due to highest market cap and every exchanges accept it.
The answer will be same if you ask the other centralized shitcoins project.
1. One Bitcoin related motto is "don't trust, verify". Tether is .. based on trust.
2. Tether never managed to prove beyond doubt that they have all their issued coins properly backed with really valuable stuff.
So at least I was never convinced by them. However, the "community" is not homogenous and some may be trusting Tether. But I would not count them as a majority.
And something more: why are you asking in Bitcoin discussion? Imho this is more meaningful in trading or altcoins areas.
The forum in general doesn’t trust USDT 100% since it’s centralized and they can collapse unpredictably since they are very shady project since the beginning. The only why it was being used so far is because USDT has the biggest liquidity so far on all the available stablecoins out there that is vital to protect crypto user on possible during crypto winter. But I personally don’t plan to hold all my asset in USDT specifically for long term period because of its uncertainty. I believe most of the forum user especially the reputable member don’t trust USDT at its finest too.
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.
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.
Jump to: