Topic: Is TETHER a SCAM? (Read 321 times)
Earlier I thought it was a skam but recently they have proved they really have money on their bank accounts.
I don't think so, I think tether is a legit coin and has been in existence for a while now, they may have had some shady dealing in the past but i think it's been corrected when many people come for them to show proofs .
as for now it looks working and stable, it is a great tool and it is definitely necessary for the crypto world. What is not so clear is whether it can sustain a big market growth while maintaining its value fixed
Some of the tokens are scams since they run on a centralized software and at that the system can be manipulated by either the developer or the project owner him self. Unlike bitcoin that is highly decentralized, so scam is bound to happen.
I can't tell you their (Bitfinex) intentions when they first created Tether but I don't think it takes a genius to understand that things will go wrong, there is no way that the token value will remain unchanged at 1 USD. All it takes is an issue with the bank where they are storing the money and It's done.
Is it a convenient way to trade your coins instead of fiat that could take days? It definitely is, no one could deny that but If you're keeping them for long term storage? not suggested.
Is it a convenient way to trade your coins instead of fiat that could take days? It definitely is, no one could deny that but If you're keeping them for long term storage? not suggested.
I completely agree, it all begins when people start to come to the bank for money and then the bank always has some “difficulties”, at that moment 1 USD = 1 USDT may stop working.
It feels like Tether's plan is just to become a self-fulfilling prophecy. First they issue some non-supported money and then after some market manipulations on Bitfinex they can turn it in to real cash.
I can't tell you their (Bitfinex) intentions when they first created Tether but I don't think it takes a genius to understand that things will go wrong, there is no way that the token value will remain unchanged at 1 USD. All it takes is an issue with the bank where they are storing the money and It's done.
Is it a convenient way to trade your coins instead of fiat that could take days? It definitely is, no one could deny that but If you're keeping them for long term storage? not suggested.
Is it a convenient way to trade your coins instead of fiat that could take days? It definitely is, no one could deny that but If you're keeping them for long term storage? not suggested.
I completely agree, it all begins when people start to come to the bank for money and then the bank always has some “difficulties”, at that moment 1 USD = 1 USDT may stop working.
Well in my own opinion, I don't think tether is a scam, if they are scam a lot of regulators would have taken them down for a long time, I think some competitors are trying to create FUD around them for their own platform to excel. No doubt tether is most dominant in the market
There is plenty of discussion on this one, Theter has gone a long way into proving the deposits but many questions like convertibility make it dubious.
Sure looks like a scam but the fact still remains that tether is the only stable coin that we have in the market right now. Even with the bear market the people who converted their coins to tether are not taking as big of a hit as the rest of us who left our money in other cryptos. They might not be meeting up with the monthly audit that they promises but they are doing a good job keeping the price of their coin stable.
so if we want to trade with the most stable coin in the cryptocurrency, maybe tether is the best choice because so far, the price does not increase too high and low and if the price increase, its not more than $1.5 and the decrease is not more than $0.98 and it will get up and down in many times. but we need to think that if we trade tether, our profit is not too big to depend on the other coins which can increase higher in the next hours.
Well they had a few audits and they went through it strong, I think that is the end of the discussion, tether isn't a scam and is actually backed by real dollars.
I use usdt only to fix the rate of btc I like before cashing out. Never store my coins in usdt for a long period.
Sure looks like a scam but the fact still remains that tether is the only stable coin that we have in the market right now. Even with the bear market the people who converted their coins to tether are not taking as big of a hit as the rest of us who left our money in other cryptos. They might not be meeting up with the monthly audit that they promises but they are doing a good job keeping the price of their coin stable.
Of course I do, saved a ton of money this bear market by utilizing tether and not keeping my money in alts that rapidly lost value
Cars to share how lots that tons of money?lol
Tether is one legit coins and haad lots of trusted members investing on this so i dont know why this OP putting words against a legitimate and semi successful coins
Or maybe hes just a frustrated investor of tether that didn't succeed on investing
I heard that Tether had strange transaction and news about 30mln stolen and so on. However, does smb like it? Do you prefer to use it?
I saw a paper like "audit" when they confirmed $2 ths bln on the bank account of Tether, but it is still questionable. Could it be a huge scam?
I saw a paper like "audit" when they confirmed $2 ths bln on the bank account of Tether, but it is still questionable. Could it be a huge scam?
who said the scam tether was untrue news, we can see right now, the price of the tether is very stable, all the coin prices are down, but the price of the tether still survives
Tether is not scam but doing manipulations in the crypto market.As a result, the crypto market is badly affected.People are getting less trust.
I think it is not a major issue for crypto industries and it is not a scam. In the crypto market investors need to more careful and cunning about investing in crypto.
Scam it's or not, we need tether and things like tether, it's making crypto world more stable.
not at all. we don't need a shady altcoin that is creeping its way into the whole market and can fail at any moment if the company behind it decides to scam and run away or if finally US government decides they want to close them down because of all their claims about having USD reserves and all that drama. do you know what will happen to the market then?!
if anything, what we need is a decentralized stable coin not a centralized coin like tether.
in my opinion, the tether is not a scam although I am not yet to try to send my tether from one exchange to other exchange. but I believe that tether is not like what we think. tether is good for us and we can hold the tether if we don't want to buy and sell bitcoin or we don't want to convert our tether to fiat. maybe many of us don't know how to hold tether in the exchange so we think that tether is a scam.
I rode the last wave down because I was scared of Tether and hodl'ed instead of Tethering. BIG MISTAKE. I will be utilizing Tether if we have a crazy run once again. I don't want to take the ride down again.
Scam it's or not, we need tether and things like tether, it's making crypto world more stable.
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