If all your wages were paid in USDT, would you accept it? - page 6.

yhiaali3

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Quote from: Lakai01 on April 26, 2024, 02:02:05 AM

You know that USDT is pegged to the US dollar, right?

Everything you have listed here also applies to USDT, there is hardly any difference ... except that with USDT it's still not clear whether they actually have the reserves or whether at some point the bomb will burst and the pegging can no longer be maintained ... with billions in damage to the overall market.

Yes I agree with you, they are both very similar and one is worse than the other.

It is true that USDT is still unclear whether they actually have the reserves, but on the other hand, does the dollar have real coverage from gold, for example? Or even do the numbers in banks and on government computers of dollar balances match the paper dollars printed on the ground? Certainly not, I think most of these numbers are fictitious.

I personally don't like the dollar or USDT either, but in general I prefer owning any digital currency over fiat currencies if I have to, but if I had a choice I would only choose Bitcoin or another cryptocurrency with a good value.

kentrolla

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I would say it would be a "No" from my side because it would be just like fiat and no appreciation so what's the purpose of getting paid through USDT as it doesn't have any benefit to choose over fiat and if we want to spend t we save to go through the hassle of converting it into fiat so I would not prefer and moreover I am skeptical whether they really hold value equivalent of supply USDT in dollars

CageMabok

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

There is no need to panic about this as long as you know how to exchange it from USDT to US dollars using the Coinbase exchange as assistance. Because for me, this is not a serious problem, especially if USDT itself supports more networks and pairs on major exchanges at the moment, making it quite easy for anyone who wants to exchange it for another currency. So there's no need to panic over just a small thing like this, especially if you can solve it in a fairly easy way without having to worry about thinking about fluctuations or risks.

ShowOff

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I can receive wages from any altcoin including USDT as one of them, but of course I cannot expect the government to do so. Cryptocurrencies including coinstable are not legal tender in my country, but I can sell services to be paid in crypto online, including bitcoin or USDT.

USDT is a currency that is accepted in many places as a means of payment so far, but USDT is not accepted by everyone. Regulatory issues are the biggest factor in the crypto adoption journey, so I can't expect my salary to be paid in USDT, especially in a real job.

OP, move this topic to an altcoin discussion, that tends to be the more appropriate for this topic place.

Oneandpure

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Why not? actually I am very happy if all my wages were paid in USDT because the values of my local currency not stable yet and USDT keep increasing drastically day by day. Almost the same with bitcoin values get increasing up and USDT more excited fiat depend on my local currency how difficult to stop USDT values keep increasing.
Since this year almost 3% the increasing of USDT and seems very interested if any company in my country want to pay with USDT as wages but I don't think its come true if working with company still operation in my country.

Seems interested when working as influencer and get client around the world with their payment using USDT, I am so excited and make most of payment salary with USDT as saving and investment assets in the future with the increasing values.

cryptoaddictchie

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Quote from: jaberwock on April 26, 2024, 10:48:22 AM

Why not? But each of us has our own preferences, so I can't force you with that if you think it's weird for you. Why won't I use them when crypto is also a currency or a money just like a fiat? And USDT is more close to it. It's name says it all >"US dollar".

We have a public ride here in our country called Jeep its a cheaper way of ride than bus and trains. Imagine you gonna pay to the driver a usdt knowing what he needs is the currency acceptable on that country how can you make that convenient? Also when you are in a hiking mountains and theres no signal and you need a payment for the tour guide I supposed they will ask for a cash payment not bank transfer even so not crypto usdt.

Can you use usdt when you to a carnival? Or some normal everyday things you need yo pay something. Yes some establishment considered that but not all your expenses are on those establishment.

So how can you make it possible maybe for a 1st world country it is flexible. But lets admit not all countries support crypto or at least accept usdt payment.

Maybe in your country its convenient for you but think other places too. Im not gonna say that if I havent have a valid arguement.

jaberwock

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Quote from: cryptoaddictchie on April 24, 2024, 07:22:36 PM

Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

Probably not if you are talking about real time job but if you are a freelancer or online works maybe its okay. There are some who accept it on some remittances and platform provided you are into crypto but if not then totally not good idea. Why would you used it knowing its a crypto stable of course you need to deposit it or make it as currency first.

Why not? But each of us has our own preferences, so I can't force you with that if you think it's weird for you. Why won't I use them when crypto is also a currency or a money just like a fiat? And USDT is more close to it. It's name says it all >"US dollar".

Even a regular crypto can be spent out directly, much more USDT because it is a dollar but only a digital one. Yes, the employer needs to deposit it in our account first before we can use them but what about a regular salary? They are also being deposited in our bank accounts first while there are some who just handed out directly in an envelope. Some prefers it too because they can use it immediately.

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USDT is a temporary solution for those who want to obtain a stable currency and do not want to convert to the dollar, or for those who want to trade without having to return to the bank account, but this does not mean that the USDT has the same value as the dollar or that it is used for long-term investing.

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

Stable coins has a lot of pairs right now if you get back with the previous history of the market especially the Luna coin case the price of the stable coins de-peg so ideally there a volatility, if you can make a quick trade with the fiat or have a chance could be a fiat currency its better to take than having unexpected market crash and lose the value of it. Tons of topic already created about the use of the crypto as payment method but takes a lot of hassle to the user who is not knowledgeable with the crypto.

Lakai01

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Quote from: yhiaali3 on April 25, 2024, 11:38:32 PM

The paper dollar has no value. In fact, it is just a piece of paper from which the government can print as much as it wants. USDT is not much better, but it is at least a stable digital currency that can be easily stored or transferred across borders, and you can convert it to Bitcoin or any cryptocurrency of value.

You know that USDT is pegged to the US dollar, right?

Everything you have listed here also applies to USDT, there is hardly any difference ... except that with USDT it's still not clear whether they actually have the reserves or whether at some point the bomb will burst and the pegging can no longer be maintained ... with billions in damage to the overall market.

yhiaali3

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As for me, I will accept taking my salary in USDT instead of the paper dollar, although the USDT has a lot of question marks about reserves, centralization, etc., but for me it is still much better than the paper dollar.

The paper dollar has no value. In fact, it is just a piece of paper from which the government can print as much as it wants. USDT is not much better, but it is at least a stable digital currency that can be easily stored or transferred across borders, and you can convert it to Bitcoin or any cryptocurrency of value.

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

If in my country, cryptos are legalised and less charges are imposed in it, then I won’t mind taking my salary in the form of USDT. To be frank currently I take money in cryptos only, specifically in Bitcoins for the little freelancing work I do. I use the p2p transactions to cash it out in my local currency. I would say USDT has more benefits than the USD, hence it won’t be any problem to take the payment in crypto or specifically USDT.

poodle63

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its literally just USD in digitalized form though I think some people out there doesn't matter where they come from if they can be paid in some stablecoin of various currencies based on their own region and is pegged on real fiat value they will have no problem, its just a few steps away from becoming fiat money anyway though it does indeed seems like taking more steps than just having the salary paid directly to our bank accounts but for someone that are rather investing minded they'd gladly take up the offer, save them hassle from converting their fiat to stablecoin through various process by the exchange.
its only problematic for people when they are paid in something that is volatile in value not all people can afford the volatile nature of certain investment asset so it need or require at least their agreement so that if someone just can't tolerate volatility of value they can just back off from the offer.

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

From time to time, some celebrity or public figure (baseball, basketball, football players, the mayor of Miami and New York, deputies from Europe) declares that he is ready to receive a salary (or part) in bitcoin, but I have never heard of anyone someone expressed a desire for USDT. I would follow their example and agree to bitcoin, but not USDT.

Does thinking about risks make you panic? Do economic crises and collapses that arise in the traditional monetary system not confuse you? Because you are used to thinking that traditional money is safe and reliable, although there are also risks in that system. I say this in defense of bitcoin, not USDT. I trust USDT the least among the announced currencies. What collateral does this asset have?

If we talk about USDT, then for most it is unlikely to be suitable as a means of receiving a salary, because this type of cryptocurrency can't pay for current expenses (housing, food, etc.). I think that not a single currency is suitable for this now.

sheenshane

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

Why not if the purpose is to accept it as your salary? But it doesn't mean you will hold it for a long time.
Though the USDT was designed to be a stablecoin, still there's a risk behind it, it could be de-peg or lose value.

Yes, the changes in supply and demand of the market within the cryptocurrency market could also cause USDT's value to deviate from its peg.
It's inflation risk that can't protect against inflation in the market. If the US dollar experiences significant inflation, the purchasing power of USDT holders could decrease over time.

This is only if you meant for holding, but if not, you can receive it as your salary and convert it to fiat if you want to have your fund.

coinerer

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

UDST is enough trusted stable coin and it is very easy to cash out so I have no problem accepting USDT as payment. Us dollar is enough strong money and reserve currency of the whole world. Also USDT is the most trusted cryptocurrency and has the highest market cap so I don't see any fear of anyone adopting it. so I think everyone who knows about crypto and knows USDT will not feel any qualms about accepting usdt as payment.

Pandu Geddon

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

what is certain is that for security and my needs, of course choosing US Dollars is an option. but if we talk about the future when USDT can finally be used in certain networks throughout the world. then I will take the risk to continue accepting USDT payments.

Moreover, for current use, although we will be paid in USDT for our work. still, we can convert immediately to US Dollars to get a sense of security and fulfill our needs.
When there are companies that pay their employees with USDT, I think they must have taken into account what the best scheme is for the company's finances and also the situation of their employees.

Strongkored

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All the transactions we make in real life have a greater percentage or even almost 100% using USD/Fiat so there is no urgency to receive a salary with USDT, in fact this is more risky because the value can become zero in one night if something unexpected happens because crypto is always full of surprises.
If we need stablecoins, just buy them with the fiat we have, even if we choose the salary using USDT it will be reduced due to exchange and withdrawal fees because we will still use fiat. So we have to remain realistic even though we like crypto, but fiat is what we use the most.

tottong

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

Interestingly, we are not faced with this choice and salaries are always paid using official fiat currency issued by the government.
The matter of choice depends on each individual who accepts it or not, but why it should be a priority. Now the jobs are paid according to the company rules and we should know that before working in that place.
Most people use USDT so when faced with the choice why don't we take this step, especially since it is easier to transfer. The only issue to consider is security issues so that the assets are not hacked or have problems.

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Quote from: shanhaigamefi on April 24, 2024, 04:34:25 AM

If your salary was not US dollars, but USDT, would you dare to ask for it? Although USDT can facilitate transfers and cross-border payments, thinking about the fluctuations and risks makes me feel a little panicked! It can’t be used everywhere in daily life, What do you think? Come and chat!

USDT is a good option only for cross border payments other than that it doesn't hold any importance. If someone gets paid in USDT they still will need to convert it into fiat as it is not accepted everywhere. Grocery, rent payments, bill payments cannot be done using USDT, those payments require fiat. I personally won't be interested in getting my wages paid in USDT unless my employer is situated in a different country.

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