Is USDT a trustable? - page 15. | Bitcointalksearch.org

Silver80

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Quote from: tvplus006 on October 09, 2021, 05:53:52 AM

Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

Negative news about USDT began to appear in 2018, when the Trade Commission sued Bitfenix and Tether Ltd for the fact that USDT is not backed by real dollars. Nothing has changed since then, negative news about USDT appears regularly, but at the same time the coin is still functioning on the market, while the capitalization of the coin is constantly increasing. If you want to have fewer problems in the future, then use decentralized stablecoins.

I suggest you should give an example to the OP about other decentralized stablecoins because the OP is still confused, you ordered the OP to use decentralized stablecoins but you didn't mention it, such as movies censoring "ads in it" or what you might think recommends decentralized stablecoins.

Cadaver20

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

I haven't heard any bad news about USDT. Can you share any such news? I trust USDT. I often convert my crypto to USDT and store it. If you have any doubts about USDT, you can use another stablecoin.

Congyang

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actually I don't really follow this but I've read several articles not only now this news about usdt has been around for a long time before.
but I don't think this has much impact considering that there are so many countries that use this usdt.
apart from that, when looking at usdt I think I will be more worried about other coins because the negative news is not only about usdt but a lot of coins that are affected by this.
but what distinguishes usdt until now is still strong even though it continues to experience setbacks

MarjorieZimmermanGinger

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

There is no correlation between bad news and usdt is a scam, usdt is a necessity for everyone as a transaction tool, it is very unlikely that usdt will be a scam forever, there is no need to replace stablecoins because there is no relationship between scams with it, usdt has good opportunities in the future , you need to learn more about the usdt coin, or publish a link that says usdt is a scam, this will never happen.

khiholangkang

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

Bad news about USDT has been happening all too often over the past few years, but until now they still persist. That means USDT is really good.

nimogsm

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I understand your concern, but in any case there are many alternatives. Explore and there are enough other projects now. As above correctly noted, negative news has existed since 2018 and maybe even earlier. So if you are worried, choose an alternative for yourself.

Jackl87

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

This is one of the most discussed topics of the whole crypto space in my opinion (along with the very high gas fees of Ethereum in the last year or so) and it is also quite an old topic. The problem with USDT is that Tether always claimed that every USDT that is minted is backed 1:1 by a real US dollar but back in 2019 they changed the wording to "We have enough reserves to back every USDT minted with a real USD". The problem with that statement is, that we don't know what those reserves are, we can not verify them, so in the end we don't have any proof that they exist at all. That is why a lot of people switched to USDC in the last few months.

Bttzed03

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Trustable? It looks like they surpassed the biggest hurdle they faced but only trust USDT as much as you trust your own bank. While it's true that transferring USDT using non-custodial wallets is faster than fiat's bank-to-bank, it can be frozen whenever Tether wants it.

so98nn

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

USDT seems to be real stablecoin. I am not sure there is a bad news floating around the internet, if it is then that's just out of negative marketing or paid marketing tbh who wanna bring down the best stablecoin. As far as I know USDT is just tangled up with regulatory bodies because some guy think that money laundering is being done under the USDT so it's under centralisation process? This is just not a trust issue but a complication associated with laundering, regulations etc.

More to add to this:

Well, USDT has,

Total Market Cap: $68,406,591,458
24 hours volume: $73,798,912,505

With that info, I dont think that USDT will be swiped off the crypto space immediately?

Quote from: adzino on October 09, 2021, 07:15:35 AM

Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin

You should keep in mind that USDT isn't fully backed by fiat US dollars (as far as I know). They used to say they had a dollar for every tether, but few months ago they released a report which shows that only around 3% of tether is backed by "cash". Rest includes assets and "commercial papers". So if everyone together tries to redeem their tether tokens for US dollar, they very likely won't be able to do so without trouble.

Quote from: hak13 on October 09, 2021, 05:13:02 AM

any recomendation for the stable coin?

USDC or DAI maybe? Do your own research.

I see very low possibility for this to happen. I dont think all the crypto investors would want to sell off their USDT in single, there is no reason for that.

pawanjain

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Quote from: agustina2 on October 09, 2021, 05:21:01 AM

Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

Care to link that bad news regarding USDT? Why it should end up as a scam to you? Let's discuss that news.

If you are really worried, then choose other stable coins now. Diversifying is one of the options too.

Not backing up OP but I even I have read a few times how Tether is falsely claiming that it holds the reserves needed to back the USDT coins.
It minted $2 billion new coins but it does not have the reserves needed. Thus they are profiting out of the new coins from thin air.
I am not sure how much of this is true but if it is then holding USDT is indeed a risk.
The thing is we can't even find out how much amount of USDT backed reserves it has. Are they declaring those assets publicly ?

For reference : https://theodoregreenbaum.medium.com/tether-limited-announces-that-usdt-is-backed-by-itself-55303bbd7a23

adzino

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin

You should keep in mind that USDT isn't fully backed by fiat US dollars (as far as I know). They used to say they had a dollar for every tether, but few months ago they released a report which shows that only around 3% of tether is backed by "cash". Rest includes assets and "commercial papers". So if everyone together tries to redeem their tether tokens for US dollar, they very likely won't be able to do so without trouble.

Quote from: hak13 on October 09, 2021, 05:13:02 AM

any recomendation for the stable coin?

USDC or DAI maybe? Do your own research.

domoy77

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

Now there are so many stablecoins that you can use and you choose to store your assets in cryptocurrencies, if you are afraid to use USDT because there is some bad news whose truth is still questionable, you can also use USDC, BUSD, DAI and many others.

Johnyz

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

I didn't hear any new bad news from USDT, is there any link that supports your statement?
There's a lot of problem before but it looks like USDT was able to surpass all those problem and suspicion about stablecoins and now, look at them they are the most safest coin to hold for especially if you want to protect your funds from the market volatility. I still hold USDT just to be ready for any possible down trend.

Capt00

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

Stablecoins, as far as I'm aware, are far safer than other cryptocurrencies. Normally, you don't have to be concerned about the price dropping. When you buy a stablecoin that is tethered to the dollar, you are betting on the dollar's value. One last possibility is that the central authority does not have the collateral it claims. Because so many people use USDT, if it has an issue, that doesn't mean it can't be fixed. According to my research Tether's USD reserve is greater than 100% of all outstanding coins in the market, as declared by the firm.

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

Not blaming you for the thoughts like that but what your research tells you? If you will just refer to the news it will just affect your decision. USDT is strong and stable that's why no place for me to think that they will become scam soon.

Try to analyze the situation with your own reasoning. Decide for yourself.

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

You can try out other stable coins if you aren't comfortable with Usdt but this isn't the first time we are having negative news about Usdt and all along it still survived the news my only concern is it's complete centralized nature outside that it's a nice option. But can still try out other options like Busd or PAX possibly diversify your portfolio

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

Negative news about USDT began to appear in 2018, when the Trade Commission sued Bitfenix and Tether Ltd for the fact that USDT is not backed by real dollars. Nothing has changed since then, negative news about USDT appears regularly, but at the same time the coin is still functioning on the market, while the capitalization of the coin is constantly increasing. If you want to have fewer problems in the future, then use decentralized stablecoins.

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

As far as I know usdt is difficult to cheat, considering that many countries use usdt, the bad news heard from usdt is also experienced by other coins, even worse than that news, so there is no need to take this news seriously, you don't need to change stablecoins, but if want to add even better coins, focus on what you want to achieve now, forget the news so you don't get influenced?

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

Bad news around stablecoin usdt has been around for a long time and it still remains the market leader. If there are problems with usdt this will affect the crypto market very much and most likely it will affect you in the moment and no matter what asset you are in this moment.

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Quote from: hak13 on October 09, 2021, 05:13:02 AM

In recent days lots of bad news are hearing from usdt and what will be happen if the usdt is a scam,should i change other stable coin,any recomendation for the stable coin?

Care to link that bad news regarding USDT? Why it should end up as a scam to you? Let's discuss that news.

If you are really worried, then choose other stable coins now. Diversifying is one of the options too.

Topic: Is USDT a trustable? - page 15. (Read 1748 times)