Is USDT Tether safe? - page 22. | Bitcointalksearch.org

vennali

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#SWGT CERTIK Audited

Quote from: rachman mahesa on May 03, 2019, 02:51:41 AM

USDT and USDC like very safe and stable. If you experience a decline, it's not too significant like the other altcoins. I am sure that in the future this will work well as it should. Until now it can be said that it is still safe because the USDT ratio will remain 1: 1 with USD.

How can something be seen to be safe for the future based on its current standing ? Just because a stock is trading at a good price right now doesn't mean its safe and will continue to do so in the future. You should read up on tether and the accusations made against it.

Quote from: puremage111 on May 03, 2019, 03:02:22 AM

No and never
An audit was recently made and Tether had only 74% asset/cash to back up all their Tether IIRC

Tether has been flagged a huge red big flag by the crypto community for quite some time because of how shady and non transparent they is

I feel even 74% is too big of an amount, I expect the number to be close to 40%. I wouldn't trust an affidavit by their lawyer though. An actual audit companies need to look into the numbers.

Sithara007

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No. Tether is not safe, as it is not fully backed up by cash or other equivalents.

A few days back Zoe Phillips of Morgan Lewis, the attorney representing Tether admitted that USDT is only 74% backed up by cash or equivalents. The details can be accessed here:

https://www.scribd.com/document/408190969/Zoe-Phillips-Filing-4-30?campaign

There is no immediate threat to anyone, as I don't expect that more than 74% of USDT will be redeemed in one go. But the fact that USDT is an asset that is not fully backed up is a concern for us.

puremage111

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No and never
An audit was recently made and Tether had only 74% asset/cash to back up all their Tether IIRC

Tether has been flagged a huge red big flag by the crypto community for quite some time because of how shady and non transparent they is

rachman mahesa

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USDT and USDC like very safe and stable. If you experience a decline, it's not too significant like the other altcoins. I am sure that in the future this will work well as it should. Until now it can be said that it is still safe because the USDT ratio will remain 1: 1 with USD.

vennali

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#SWGT CERTIK Audited

Quote from: De_nis on May 02, 2019, 12:20:59 PM

I think USDT can be trusted, because if not them then where to get a stable coin through which you can record profits?

Thats an invalid excuse to trust something that might scam later. There are many stable coins. These include USDC which is offered by Coinbase, and then there is Dai which is backed by dollars and has proof to do so. With tether, nothing is audited, so you might end up holding nothing but 0 value coins incase they get audited and it comes to light they are not backed by actual dollar.

bustedsynx

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Quote from: onecall123 on May 02, 2019, 09:43:32 AM

It doesn't backed or tied with anything. Try not to keep your assets with Tether, there will be always questions such centralized coin. Tether is great when you need to ride out a storm or simply make some breathing space. I am not a big fan of Tether, yet I feel good with it in bearish time.

I feel dirty exchanging my bitcoins to Tether when I do hedging or preserve my portfolio's worth. It's great for shorting but that's it. I don't trust holding it for long. I might run into bad news and be left holding a bag of worthless USD wannabe.

De_nis

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I think USDT can be trusted, because if not them then where to get a stable coin through which you can record profits?

Nivelir

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A lot of noise around this project. You remember that at the beginning of the fall in prices for BTC there was something similar, I hope that this time there will be nothing of the kind. because the prices for BTC today are already very small.

Adriano2010

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As most of people say and they not backup Theter with real money then i think is not safe to hold funds on tether, i wish their have backup all Theter with real funds on banks, but this is it.

onecall123

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It doesn't backed or tied with anything. Try not to keep your assets with Tether, there will be always questions such centralized coin. Tether is great when you need to ride out a storm or simply make some breathing space. I am not a big fan of Tether, yet I feel good with it in bearish time.

stefany101

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I think there is nothing to worry about Tether (USDT), this coin is stable in terms of its price. Even some other major cryptocurrecies are being down or being pump, Tether remains the same , and there are many people or trader who loves to trade their tokens or coins in crypto exchange pairing with USDT.

Tylev

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Quote from: watergold on April 17, 2019, 07:47:21 AM

I think saving USDT won't get more profit if what you want is profit, but if you save funds just to secure assets I think it's the best way,at least avoid losing too much

Stable coins and are not intended for profit. They only create more convenience when using cryptocurrency
Strictly speaking, stable coins are not full-fledged cryptocurrency. These are digital fiat copies.
In my opinion, stable coins, including USDT, have proven their reliability and necessity when working with cryptocurrency.

senin

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Quote from: niisarearning on April 17, 2019, 07:42:14 AM

Still i am using tether ( USDT ) for taking profit in the form of crypto and reinvest back . I have seen lots of bad news and lots of competitors appeared foe tether in 2018 includign DAO . But i still belive in Tether . After lots of accusation still its strong equal to stable currency.

I agree with the statement that a stable USDT coin is safe and very convenient when using cryptocurrency. This is one of the stages of improving cryptocurrency, and I hope that there will be many more. Cryptocurrency still still represents a certain difficulty in the use of ordinary people.
Stable coins serve as a good buffer between a cryptocurrency and a common currency.

Keadyar

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Quote from: Thermytee on April 20, 2019, 01:56:35 AM

Agreed, Tether wasn't audited at any time but Come on, it has saved most traders from losses in the crypto markets. During the heat of the bear market, most traders had to exchange their portfolio to USDT to maintain its value and when the bull appeared this year, they changed back to bitcoin and made gains. So really, those in profit don't care if it's audited or not. It's safer than most shitcoins out there

I also think that Techer (USDT) is an island of security for investors and for traders in the raging and unstable ocean of cryptocurrencies.

Thermytee

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Agreed, Tether wasn't audited at any time but Come on, it has saved most traders from losses in the crypto markets. During the heat of the bear market, most traders had to exchange their portfolio to USDT to maintain its value and when the bull appeared this year, they changed back to bitcoin and made gains. So really, those in profit don't care if it's audited or not. It's safer than most shitcoins out there

Wakhid Mukti

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agree, it's stable and never disappoints. even now I have never heard bad rumors about Usdt or me who don't know. at least we have stablecoin here. and I think USDT is the best-trusted coin that has always been there a long time ago.

coinbirds

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Tether was never fully audited and there will be always doubts and rumours about it`s backing.
While it is a centralized coin we never could be 100% sure about is it fully backed or not.

Wong Gendheng

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Quote from: Arvydas77 on April 19, 2019, 09:41:00 AM

I think it is safe. We have a better choice of stable coins and this helps because it lifts weight from USDT to other projects and helps investors to diversify their portfolio in stablecoins.

If everyone switched to USDT, it is certain that crypto will not attract anymore, in my opinion the thing that is curious about crypto is the price that is like a roller coaster, if more and more coins are stable like USDT, crypto will lose its place.

Greeno Force

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I wouldn't trust Tether at 100%, but I can temporarily transfer my savings to this asset. In any case, it is now one of the best options for entering Fiat

Arvydas77

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I think it is safe. We have a better choice of stable coins and this helps because it lifts weight from USDT to other projects and helps investors to diversify their portfolio in stablecoins.

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