How safe is Tether.to/USDT? - page 11.

ilovealtcoins

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Quote from: asriloni on July 14, 2019, 09:51:23 PM

Quote from: dearbesz1219 on July 14, 2019, 09:33:30 PM

Tether changed rules and they are not backed 1:1 to american dollar but to other assets and loans. That doesn't look trustworthy for a long term hodl.

They have changed the rules and they have lost all of the credibility and tether is not a credible stable coin again and look at the latest news of tether and how it can print a new tether anytime and the latest bews said tether is a big scam in the world. the team can print even billion tether anytime.

The issuance of no limits makes USDT like the same currency is USD. USDT with the current number is suitable and assurance rules for USDT makes the other stable coin has the opportunity to compete. If not sure about the opportunity to put the whole of the property of USDT is an advantage as it is stable similarly the same dollar, we will be safer than the difference in a little value.

The crypto market is too small and I realize that every time the market goes up or down, the value of usdt tends to follow. I have witnessed a time of 1usdt with a price difference of 1usd about 1.05 times. Therefore, the issuance and circulation of Usdt requires a larger amount to ensure the stability needed for exchange rates.

wack slacker

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Quote from: dearbesz1219 on July 14, 2019, 09:33:30 PM

Tether changed rules and they are not backed 1:1 to american dollar but to other assets and loans. That doesn't look trustworthy for a long term hodl.

If considering assets to keep for a long time, surely all investors will never choose usdt because Usdt's ability to generate profits is very low and they only buy usdt to see it as a reserve asset when have investment opportunities and when the market gets worse.

wack slacker

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Quote from: farlack on July 14, 2019, 06:51:10 PM

I don't like that they constantly print new coins, but you know, usdt is a basement of whole crypto sphere, so crypto depend on it and we should trust to usdt

I agree on your point of view. USDT is an intermediary asset to prevent market collapse. When the market collapses, it is better to transfer assets to usdt than to swallow up all markets.

asriloni

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Quote from: dearbesz1219 on July 14, 2019, 09:33:30 PM

Tether changed rules and they are not backed 1:1 to american dollar but to other assets and loans. That doesn't look trustworthy for a long term hodl.

They have changed the rules and they have lost all of the credibility and tether is not a credible stable coin again and look at the latest news of tether and how it can print a new tether anytime and the latest bews said tether is a big scam in the world. the team can print even billion tether anytime.

dearbesz1219

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Tether changed rules and they are not backed 1:1 to american dollar but to other assets and loans. That doesn't look trustworthy for a long term hodl.

glendall

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theter is one of the very good stable coins, even DAI is less popular with thether,
but here I don't want to compare, it's just that if I look at theter it's not a problem as long as the coin function is still running and there are still many large exchanger who want to accept it.

sorrros

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With this big sum of money why you do not choose any other alternative? Paxos or Gemini dollar seems like most trusted stable assets with many regular audits.

farlack

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I don't like that they constantly print new coins, but you know, usdt is a basement of whole crypto sphere, so crypto depend on it and we should trust to usdt

chocopapaya

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Unfortunately, I would say, tether is not safe at all.
Also, why would you want to park your usd in tether while btc fluctuates?
Wouldn't you rather actively trade to take advantage of those fluctuations.

Another thing to consider, is do you even need a stable coin?
In a lot of ways, a stable coin can actually work against you.
The main reason is that the stable coin is actually not really stable at all.
It's only real use is to use it in crypto trading and the market is entirely unstable.
I mean, just think of this, keep your usd in a normal savings account, you'll at least get some interest.

Belianez

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I have long been using usdt and never had problems with the fact that the coin did not reach and so on , a lot of negativity about this coin but I think not reasonable , I keep a lot of money in the usdt and do not worry about it.

martychubbs

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Quote from: mobnepal on June 14, 2016, 12:30:11 PM

Quote from: johnwinds123 on June 14, 2016, 06:19:27 AM

Hi vlom,

Isn't that risky to hold money on an exchange? I lost a couple of BTC on MintPal, and almost lost some money on Cryptsy (had to sell coin for Doge at a bad price to get out). Since then I try to never keep money on any exchange (even if it's supposedly safe, like poloniex).

It is very risky to trust any one exchanger totally, its better to hold all bitcoin in different exchanger and you can sell them whenever you like and with this you can also do arbitage trading in different platforms.

Agreed. Keeping Btc in one exchange is very risky. It locks up your money. Better to hold off the BTC among different exchanges.

Atang Sulaeman

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what I know for Tether.to/USDT is a stable currency because it follows fiat currencies.
but all risks must be there.

ivaf

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Quote from: johnwinds123 on June 12, 2016, 09:49:39 PM

Hi everyone,

I'm just wondering about people's opinions on how safe is Tether.to/USDT? In terms of putting largish amount of money in there ($10k+), what is the risk of the service going out of business, or not honoring withdrawals? I.e. what is the risk of another Mt Gox, Mintpal or Cryptsy incident on here?

I can see that it still says "Beta" on the main page, and that it's a Hong Kong outfit. Not sure what kind of financial regulation/overwatch they have over there when it comes to these things.

I guess other little warning bells are that they don't have an easily accessible support link on their user interface (you can however email [email protected]), or at least I couldn't easily find it.

Is there a safer way (which is still easy and cheap) to park some USD while BTC is going through it's fluctuations?

Thanks

There is an old proven way. Bring your virtual dollars to fiat. And keep them in cash.
Well, do not forget about the other stablecoins (for example, TUSD, PAX).

r_delossa

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USDT has a bad reputation on this forum, because they do not have a limited supply. They always releasing like 10 million of new coins, without any background and due to this fact a lot of traders are making loses.

Jpti

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I think stable coins are the best way to store your bitcoin or ethereum to retain the value of your bitcoin. So stable coins are meant to serve this purpose of the people to store their money and tokens. As far as I know tether is performing well in the market, and it is the old and established coin. I favour this coin.

pinoy.bolanon

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Everything is risky my friend, and there is no solid proof that this project will exist for so long, we all know the game of crypto, some of it, popular at the current time, but after so many months they are gone, i could not say that it would not last long, but my point is that we are aware of what we are doing or taking, but for now, i trust USDT and some of my funds are stored in it in some exchanges as i do some short trading to my coins.

z21770179

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The amount of 10k compared to the value and current circulation of USDT is very small, I don't think there will be any risk with such an amount.

Tipstar

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It's in the top 10 by marketcap for a reason. Tether is the first of widely recognized stable coin. There were many others but they were either low in volume or were not able to retain the fixed value while Tether became the first to successfully convince people of its stability. And it's the only stable coin you could find in almost all exchanges.

Nalbo

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Quote from: johnwinds123 on June 12, 2016, 09:49:39 PM

Hi everyone,

I'm just wondering about people's opinions on how safe is Tether.to/USDT? In terms of putting largish amount of money in there ($10k+), what is the risk of the service going out of business, or not honoring withdrawals? I.e. what is the risk of another Mt Gox, Mintpal or Cryptsy incident on here?

I can see that it still says "Beta" on the main page, and that it's a Hong Kong outfit. Not sure what kind of financial regulation/overwatch they have over there when it comes to these things.

I guess other little warning bells are that they don't have an easily accessible support link on their user interface (you can however email [email protected]), or at least I couldn't easily find it.

Is there a safer way (which is still easy and cheap) to park some USD while BTC is going through it's fluctuations?

Thanks

Tether is the most used and widely accepted stable coin. They have the largest volume among stablecoins and are stabler than many others. Tether is used as a tool by daily traders and also is a mean of making cheaper option for interchange transfer as the withdrawal fees are lower than most of crypto and it retains the USD value at the time of exchange.

tsaroz

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Tether is a stablecoin from bitfinex exchange. They are backed up by the same amount of USD reserve. There were some accusations and problems in its accounting but now I believe everything is settled. They proved they do hold the proper amount to insure the price of the token and Tether is one of the most legit centralized stablecoin to trade with.

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