LOL.. nothing could be farther from the truth than this statement by the OP. For starters, Tether is not a full fledged cryptocurrency and it doesn't even have a platform of its own. As of now, Tether is operating on the Omni Layer platform. I would say that it is a digital version of the United States Dollar, which has been modified to be traded as a cryptocurrency.
And secondly, the trade volume that you see from the exchanges is not the real figure. How can you explain $20 billion volume in 24 hours, when the market cap of Tether is just around $4 billion? Most of the exchanges use Tether as an equivalent currency to USD. The trades that happen in these exchanges are not with the real USDT, but with the virtual USDT. Outside the exchanges, the USDT has hardly any usage.
So in short, Bitcoin remains as the most popular, most traded and most trusted cryptocurrency as of now. Tether doesn't even come close.
Topic: If you think Bitcoin is the world's most widely used cryptocurrency,you're wrong - page 2. (Read 652 times)
October 03, 2019, 09:12:18 AM
October 03, 2019, 08:37:21 AM
Journalists often use defiant "viral" headlines to get the attention of a wider audience. I doubt that the Tether is generally a cryptocurrency. There are some external signs of cryptocurrency, but is not the internal essence more important?
October 03, 2019, 08:27:54 AM
OP is probably doesn't know the difference between Bitcoin and USDT, otherwise, he would not compare pears and apples and put them in the same basket. Not only that USDT is a stable coin that is pegged with real $, but it has an unlimited supply which the owners can increase according to their needs.
Not too long ago we learned that not all USDT is backed up with $, maybe some 70% is backed with $, rest is backed with some other assets that no one really knows what this is about. This is crypto which is created out of nothing, maybe is backed by nothing, which actually leads to the conclusion that it is not worth anything.
Not too long ago we learned that not all USDT is backed up with $, maybe some 70% is backed with $, rest is backed with some other assets that no one really knows what this is about. This is crypto which is created out of nothing, maybe is backed by nothing, which actually leads to the conclusion that it is not worth anything.
October 03, 2019, 08:03:00 AM
You are making me confused after all, I just read your thread and start thinking about what is going in the cryptocurrency platform, Am I saw it really? I think your perception is a little bit wrong, I am sure that Bitcoin is the most widely used without no doubt, It's number one and mother of all crypto, not only that but also Bitcoin is the most popular crypto in the current context, no doubt about this. But honestly, saying that I never found anywhere Tether is being accepted or traded more than Bitcoin, maybe it's my limitation of knowledge about the crypto world but it might not be the Tether is making any impact on this market so far you know, I think Bitcoin has the capability to make impact on this market when the price goes up and downs, so it can be said that easily Bitcoin is the most influential coin in this platform. forget about the widely used.
October 02, 2019, 09:38:37 PM
If this is really the case, shouldn't it be worded as "most traded cryptocurrency" rather than "most widely used cryptocurrency"? Because as far as I know, though Tether is being widely traded for sure, not only for BTC, but for other alts, but I'm pretty sure Tether is very rarely being used as a method of payment and as a store of value, which actually people use bitcoin for. There's a quite significant difference between "most widely used" and "most widely traded". It really depends on user intent.
Hmm.. isn't tether is there to store value because it is almost resistant to fluctuation in terms of USD value? I believe it is more used than Bitcoin in this case but that aside, I agree with you.
Sure. Temporarily and mostly only for the short-mid term though, while waiting for better prices to buy bitcoin. Because remember that one of the reasons why bitcoin was created so we wouldn't be needing to hold constantly inflated US dollars. I'd say if you want something that's resistant to fluctuations in terms of USD value, then it'd make more sense to actually hold USD not USDT. Because as most of us know, Tether is quite a shady coin.
October 02, 2019, 09:20:35 PM
With Tether’s monthly trading volume about 18% higher than that of Bitcoin, it’s arguably the most important coin in the crypto ecosystem. Tether’s also one of the main reasons why regulators regard cryptocurrencies with a wary eye, and have put the breaks on crypto exchange-traded funds amid concern of market manipulation.
Ignoring the half-truth tidbit used by the article as clickbait, I would actually argue that Tether isn't all that important for the crypto ecosystem. It's true that the role it plays is vital to crypto trading, but it's also disposable in that there are a lot of other stablecoins that can take its place should it collapse. Sure Tether collapsing would be a big deal, but Bitcoin collapsing would mean the end of crypto as we know it; which is the most important coin in the crypto ecosystem now?
October 02, 2019, 07:27:34 PM
This is not the true, this is wrong information, if you really understand the use of Tether you'll realize that you can't confirm this stated on thread
Tether is used to trade, to have your money stable during some time to trade
BTC is the most used crypto nowadays
Tether is used to trade, to have your money stable during some time to trade
BTC is the most used crypto nowadays
October 02, 2019, 06:49:47 PM
Recently these kind of misleading information were spread on multiple threads of bitcointalk. 
High traded crypto is not the same as most used crypto.
High traded crypto is not the same as most used crypto.
Absolutely! How come they have the guts to spread misinformation not only to the community but to the entire financial industry as well! Also, I find it quite ridiculous since Bloomberg.com is one of the leading online site catering to the finance industry and yet didn't review that article's title and revised it a little bit to clarify things out. Was this a FUD directed to discredit Bitcoin which might be lobbied by financial giants from wall street? Maybe it is or maybe not!
I'm sure the Bitcoin community would immediately react to this kinds of misleading news since the phrase "The worlds most used cryptocurrency" could be easily misinterpreted where in fact it could have been " The worlds most used in trading cryptocurrency"! and I guess Bloombergs editor isn't doing his or her job exactly! Another thing is that Tether's trading volume did surpassed against Bitcoin's volume but I guess it will not be consistent in the long term and is just temporary so BTC will likely take that position again in due time. Imho.
October 02, 2019, 05:57:00 PM
I'd like to know what used means to these people. To use bitcoin means to spend it, to give it to someone as a gift, to save it. Tether isn't used it's only tradade. Analogically you could say that a stock or a bond is being used. This is a play on words and nothing more. Most people in the world don't even know what tether is. Ask a random person if they know what bitcoin is and then ask them about tether. You'll see that more people heard about bitcoin that tether!
October 02, 2019, 05:39:56 PM
If this is really the case, shouldn't it be worded as "most traded cryptocurrency" rather than "most widely used cryptocurrency"? Because as far as I know, though Tether is being widely traded for sure, not only for BTC, but for other alts, but I'm pretty sure Tether is very rarely being used as a method of payment and as a store of value, which actually people use bitcoin for. There's a quite significant difference between "most widely used" and "most widely traded". It really depends on user intent.
All this article are just paid lies with the intention of misdirecting or misguiding the average investors, adoptions without utility isn't progress. Tether doesn't have a future or usage outside the cryptocurrency space meanwhile bitcoin is been used for our every day activities like shoppings, Gambling etc the only purpose of tether is to serve as a safe heaven in times of bear market which makes the article unrealistic.
October 02, 2019, 04:42:39 PM
If this is really the case, shouldn't it be worded as "most traded cryptocurrency" rather than "most widely used cryptocurrency"? Because as far as I know, though Tether is being widely traded for sure, not only for BTC, but for other alts, but I'm pretty sure Tether is very rarely being used as a method of payment and as a store of value, which actually people use bitcoin for. There's a quite significant difference between "most widely used" and "most widely traded". It really depends on user intent.
Hmm.. isn't tether is there to store value because it is almost resistant to fluctuation in terms of USD value? I believe it is more used than Bitcoin in this case but that aside, I agree with you.
October 02, 2019, 04:23:09 PM
While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com show that the token with the highest daily and monthly trading volume is Tether, whose market capitalization is more than 30 times smaller. Tether’s volume surpassed that of Bitcoin’s for the first time in April and has consistently exceeded it since early August at about $21 billion per day, the data provider says.
Emphasis on murky. 95% of reported trading volume is fake. Tether markets are more likely to include fake volume because it's often listed on unregulated exchanges with lax KYC standards.
October 02, 2019, 04:11:45 PM
So many people do not even know what Tether is, I doubt if there is anyone who is not an enthusiast that has heard about tether, there are even question marks about whether we should call tether a cryptocurrency in the first place, because it's more or less like a fiat currency.
Tether is not the most used cryptocurrency, if it can be called one, in fact it's only used by day traders who simply want to make profit off it, the bitcoin doesn't guarantee immediate profits, with all its volatility, but it is the main driving force behind the blockchain technology as its most widely used and accepted for diverse purposes, not just for 'trading'.
Tether is not the most used cryptocurrency, if it can be called one, in fact it's only used by day traders who simply want to make profit off it, the bitcoin doesn't guarantee immediate profits, with all its volatility, but it is the main driving force behind the blockchain technology as its most widely used and accepted for diverse purposes, not just for 'trading'.
Exactly! And honestly, I have never used Tether up until this time. I am familiar with Tether but haven't had the chance to trade nor use it. That article should rectify the usage of the phrase most widely used to most widely traded. They are misleading non crypto users also by publishing that article. Bitcoin still remains the most widely used crypto. How many shops, merchants, companies are using bitcoin vs tether as means of their payment method? I guess tether is trailing behind bitcoin.
October 02, 2019, 04:06:09 PM
So many people do not even know what Tether is, I doubt if there is anyone who is not an enthusiast that has heard about tether, there are even question marks about whether we should call tether a cryptocurrency in the first place, because it's more or less like a fiat currency.
Tether is not the most used cryptocurrency, if it can be called one, in fact it's only used by day traders who simply want to make profit off it, the bitcoin doesn't guarantee immediate profits, with all its volatility, but it is the main driving force behind the blockchain technology as its most widely used and accepted for diverse purposes, not just for 'trading'.
Tether is not the most used cryptocurrency, if it can be called one, in fact it's only used by day traders who simply want to make profit off it, the bitcoin doesn't guarantee immediate profits, with all its volatility, but it is the main driving force behind the blockchain technology as its most widely used and accepted for diverse purposes, not just for 'trading'.
October 02, 2019, 03:32:20 PM
A bunch of garbage. If the headline is "most widely used" then it does NOT include merely trading. Bitcoin is obviously more widely used (however you define that) given the market cap is much larger. Just because you don't move your bitcoins daily doesn't mean you aren't using them. You may be using them for investment gains, protection of governments, purchases, savings or anything else.
Of course, what do you expect from Bloomberg, they like fake news.
Of course, what do you expect from Bloomberg, they like fake news.
If you think Bitcoin is the world's most widely used cryptocurrency, you're probably wrong.
What’s the world’s most widely used cryptocurrency? If you think it’s Bitcoin, which accounts for about 70% of all the digital-asset world’s market value, you’re probably wrong.
While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com show that the token with the highest daily and monthly trading volume is Tether, whose market capitalization is more than 30 times smaller. Tether’s volume surpassed that of Bitcoin’s for the first time in April and has consistently exceeded it since early August at about $21 billion per day, the data provider says.
With Tether’s monthly trading volume about 18% higher than that of Bitcoin, it’s arguably the most important coin in the crypto ecosystem. Tether’s also one of the main reasons why regulators regard cryptocurrencies with a wary eye, and have put the breaks on crypto exchange-traded funds amid concern of market manipulation.
“If there is no Tether, we lose a massive amount of daily volume -- around $1 billion or more depending on the data source,” said Lex Sokolin, global financial technology co-head at ConsenSys, which offers blockchain technology. “Some of the concerning potential patters of trading in the market may start to fall away.”
https://www.bloomberg.com/news/articles/2019-10-01/tether-not-bitcoin-likely-the-world-s-most-used-cryptocurrency
What’s the world’s most widely used cryptocurrency? If you think it’s Bitcoin, which accounts for about 70% of all the digital-asset world’s market value, you’re probably wrong.
While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com show that the token with the highest daily and monthly trading volume is Tether, whose market capitalization is more than 30 times smaller. Tether’s volume surpassed that of Bitcoin’s for the first time in April and has consistently exceeded it since early August at about $21 billion per day, the data provider says.
With Tether’s monthly trading volume about 18% higher than that of Bitcoin, it’s arguably the most important coin in the crypto ecosystem. Tether’s also one of the main reasons why regulators regard cryptocurrencies with a wary eye, and have put the breaks on crypto exchange-traded funds amid concern of market manipulation.
“If there is no Tether, we lose a massive amount of daily volume -- around $1 billion or more depending on the data source,” said Lex Sokolin, global financial technology co-head at ConsenSys, which offers blockchain technology. “Some of the concerning potential patters of trading in the market may start to fall away.”
https://www.bloomberg.com/news/articles/2019-10-01/tether-not-bitcoin-likely-the-world-s-most-used-cryptocurrency
October 02, 2019, 02:45:58 PM
You are not holding USDT in hopes for its price to spike do you?
Of course USDT is paired to most coins we regularly trade which is why its the widely use but I personally wouldn't consider this USDT a crypto though, they were even just created by bitfinex for the trading purpose so whenever we can move out funds to USDT when btc price is about to dive.
Of course USDT is paired to most coins we regularly trade which is why its the widely use but I personally wouldn't consider this USDT a crypto though, they were even just created by bitfinex for the trading purpose so whenever we can move out funds to USDT when btc price is about to dive.
October 02, 2019, 02:35:40 PM
If you think Bitcoin is the world's most widely used cryptocurrency, you're probably wrong.
What’s the world’s most widely used cryptocurrency? If you think it’s Bitcoin, which accounts for about 70% of all the digital-asset world’s market value, you’re probably wrong.
While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com show that the token with the highest daily and monthly trading volume is Tether, whose market capitalization is more than 30 times smaller. Tether’s volume surpassed that of Bitcoin’s for the first time in April and has consistently exceeded it since early August at about $21 billion per day, the data provider says.
With Tether’s monthly trading volume about 18% higher than that of Bitcoin, it’s arguably the most important coin in the crypto ecosystem. Tether’s also one of the main reasons why regulators regard cryptocurrencies with a wary eye, and have put the breaks on crypto exchange-traded funds amid concern of market manipulation.
“If there is no Tether, we lose a massive amount of daily volume -- around $1 billion or more depending on the data source,” said Lex Sokolin, global financial technology co-head at ConsenSys, which offers blockchain technology. “Some of the concerning potential patters of trading in the market may start to fall away.”
https://www.bloomberg.com/news/articles/2019-10-01/tether-not-bitcoin-likely-the-world-s-most-used-cryptocurrency
Stable coins like Tether, USDC, etc, are a godsend. It makes day trading much easier to get into for a newbie like me. If it weren't for stable coins, I would avoid trading period due to the volatility of the market. I still haven't really earned anything trading, in fact, I've lost more than I've initially invested, but I'm getting better with each trade thanks to stable Tether, for now I only trade pairs with stable coins, so I guess I still have on my trading pull-ups, still a junior What’s the world’s most widely used cryptocurrency? If you think it’s Bitcoin, which accounts for about 70% of all the digital-asset world’s market value, you’re probably wrong.
While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com show that the token with the highest daily and monthly trading volume is Tether, whose market capitalization is more than 30 times smaller. Tether’s volume surpassed that of Bitcoin’s for the first time in April and has consistently exceeded it since early August at about $21 billion per day, the data provider says.
With Tether’s monthly trading volume about 18% higher than that of Bitcoin, it’s arguably the most important coin in the crypto ecosystem. Tether’s also one of the main reasons why regulators regard cryptocurrencies with a wary eye, and have put the breaks on crypto exchange-traded funds amid concern of market manipulation.
“If there is no Tether, we lose a massive amount of daily volume -- around $1 billion or more depending on the data source,” said Lex Sokolin, global financial technology co-head at ConsenSys, which offers blockchain technology. “Some of the concerning potential patters of trading in the market may start to fall away.”
https://www.bloomberg.com/news/articles/2019-10-01/tether-not-bitcoin-likely-the-world-s-most-used-cryptocurrency
. 
October 02, 2019, 01:53:56 PM
If you think Bitcoin is the world's most widely used cryptocurrency, you're probably wrong.
What’s the world’s most widely used cryptocurrency? If you think it’s Bitcoin, which accounts for about 70% of all the digital-asset world’s market value, you’re probably wrong.
While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com show that the token with the highest daily and monthly trading volume is Tether, whose market capitalization is more than 30 times smaller. Tether’s volume surpassed that of Bitcoin’s for the first time in April and has consistently exceeded it since early August at about $21 billion per day, the data provider says.
With Tether’s monthly trading volume about 18% higher than that of Bitcoin, it’s arguably the most important coin in the crypto ecosystem. Tether’s also one of the main reasons why regulators regard cryptocurrencies with a wary eye, and have put the breaks on crypto exchange-traded funds amid concern of market manipulation.
“If there is no Tether, we lose a massive amount of daily volume -- around $1 billion or more depending on the data source,” said Lex Sokolin, global financial technology co-head at ConsenSys, which offers blockchain technology. “Some of the concerning potential patters of trading in the market may start to fall away.”
https://www.bloomberg.com/news/articles/2019-10-01/tether-not-bitcoin-likely-the-world-s-most-used-cryptocurrency
What’s the world’s most widely used cryptocurrency? If you think it’s Bitcoin, which accounts for about 70% of all the digital-asset world’s market value, you’re probably wrong.
While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com show that the token with the highest daily and monthly trading volume is Tether, whose market capitalization is more than 30 times smaller. Tether’s volume surpassed that of Bitcoin’s for the first time in April and has consistently exceeded it since early August at about $21 billion per day, the data provider says.
With Tether’s monthly trading volume about 18% higher than that of Bitcoin, it’s arguably the most important coin in the crypto ecosystem. Tether’s also one of the main reasons why regulators regard cryptocurrencies with a wary eye, and have put the breaks on crypto exchange-traded funds amid concern of market manipulation.
“If there is no Tether, we lose a massive amount of daily volume -- around $1 billion or more depending on the data source,” said Lex Sokolin, global financial technology co-head at ConsenSys, which offers blockchain technology. “Some of the concerning potential patters of trading in the market may start to fall away.”
https://www.bloomberg.com/news/articles/2019-10-01/tether-not-bitcoin-likely-the-world-s-most-used-cryptocurrency
This is surely an eye opening one for the way things are being seen but and its about giving another angle to it. However, concluding that its wrong that bitcoin is mostly used would be self contradictory. From the above, it's stated that bitcoin occupies 70% of the entire crypto market, I don't know any other explanation on the contrary that could flip that position. Again Tether is one unique one in its own way and it has been an avenue that people have used to ensure they keep their funds in a stable currency and they can invest back easily without the hassle of transferring in and out of their bank account. Its simply a vehicle to me and not a crypto.
October 02, 2019, 01:46:03 PM
If this is really the case, shouldn't it be worded as "most traded cryptocurrency" rather than "most widely used cryptocurrency"? Because as far as I know, though Tether is being widely traded for sure, not only for BTC, but for other alts, but I'm pretty sure Tether is very rarely being used as a method of payment and as a store of value, which actually people use bitcoin for. There's a quite significant difference between "most widely used" and "most widely traded". It really depends on user intent.
People just see as bitcoin as a quick money scheme... The guy who wrote this probably is thinking that the only use of bitcoin is for trading.
Bitcoin is a mean of payment, as we can see in this forum for example. I doubt that there are many people working for USDT. It is possible and it would be interesting, ofc, but it is not common.
Additionally, USDT uses bitcoin or ethereum blockchain. So, if you are using USDT for payments or trading, you are using the bitcoin network.
October 02, 2019, 12:56:05 PM
I'm actually pleased to hear that the speculators have a new favourite plaything. Daytraders are just victims-in-waiting, so when they invariably get burned through hacks, market manipulation or exit scams, hopefully the negative headlines might get attributed to USDT instead, heh. It also doesn't surprise me in the slightest that they'd pick such a poor "coin" (doesn't meet my definition of the word cryptocurrency, anyway) with serious doubts over the legitimacy of its backing. I'm suspicious of so-called stablecoins in general, but Tether seems to be by far the shadiest of them. Ultimately, USDT lives primarily on exchanges and has little utility outside of them. That's not how crypto was designed to be used and confers none of the benefits of being in control of your own funds.
Give me BTC in a wallet that I control any day.
Give me BTC in a wallet that I control any day.
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