should i stay away from tether? | Bitcointalksearch.org

CryptoRama

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Quote from: vince212 on February 20, 2018, 11:00:13 AM

hi im from the philippines and we have a big premium in buying and selling of bitcoins
so now i just want to trade btc using usdt-btc pairing in bittrex. however i am aware of the
subpoena to tether regarding their shady business

should i stay away from usdt for safety?

Yes you should get of usdt!!

I tell you few reasons why:

1. Why do you think bitfinex has second richest bitcoin wallet? Because they can make usdt out of thin air...

2. you have exchanges where you don't need usdt, but you have usd and eur there... Exchanges: kraken, bitstamp

Now you say, what's the matter, more money for us, etc.. etc... But in crypto we are here because of decentralization, what Dash, ripple, lumen, and god knows how many other "cryptocurrencies" are donig this... it's only an other form of bank...

and by using more and more of usdt, bitcoin will leap in price more and more... bigger and bigger the gap will be, and still you are like: but that's even better for us!!

well I can't argue with that... but i argue with those bankers/banks that they are in a greedy need of owning 50% of assets or creating assets out of air... I mean cum on guys, price manipulation 101

Denlv

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No u dont need to stay away from tether if u think about that thing what happen with cosmic tokens what they created but its still in inspection...but now coming another good project mostly like tether its flayngmoney u can look up about it..

lil_jb

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I always stayed away from tether , never understood it to begin with.

BlockchainGod

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USDT is a scam. Just go around it, and the exchanges on which it is. Use exchanges that have trades with fiat.

cryptotnak

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Tether's supply is mostly unlimited so it can be use to destroy our whole market by these bankers who backing up the USDT.So i suggest if you want to get in with USDT or tether do not stay for in a long timeframe,because we wont know when this digital fiat would start to crash our crypto community,i personally love to take profits using it bu i wont invest for long term.Take your profit and forget about it,this is how we should play the market,

alex_kir

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I agree with the opinion of people who believe that the Tether project has a very negative impact on the crypt world as a whole, so I think that it's worth keeping away from projects that destroy the crypto world, it's just a typing machine and nothing more.

kryptqnick

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Quote from: blue_id69 on February 20, 2018, 11:05:49 AM

Using tether is fine, i using it alot as an aarbitrage pair. Just dont use it as main investment, i mean when you not holding bitcoin just turn it to another stable alt dont keep it in tether, i dont like tether just because the supply always increase every few month.

I think that keeping investments in tether is also rather safe. It will not give one any profit, but it will just make the money stay on the same level. This coin is definitely the most stable one, regardless to its supply the price is always extremely close to one dollar.

Quote from: BTCMILLIONAIRE on February 21, 2018, 11:29:56 AM

If they go insolvent, get hacked, decide to print too many Tethers out of thin air, or do anything else that would tip trust into it over the edge Tether could low all of its volume nearly over night.

So far the team has been doing really great and nothing even close to explosion happened. I believe it means they have enough funds to always keep the situation under control.
Another good alternative to usdt might be binancecoin on binance. It is used for similar purposes, but it's not as stable in terms of the price.

AravinthP

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frankly even i get that feel for one has so many questions about how can one coin that remain the same despite volatility

cryptocue

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Quote from: vince212 on February 21, 2018, 09:06:21 AM

Quote from: pedropendukot on February 20, 2018, 11:08:26 AM

Quote from: vince212 on February 20, 2018, 11:00:13 AM

hi im from the philippines and we have a big premium in buying and selling of bitcoins
so now i just want to trade btc using usdt-btc pairing in bittrex. however i am aware of the
subpoena to tether regarding their shady business

should i stay away from usdt for safety?

You should stay away kabayan!,tether is being backuped by USD,it means the banks could easily manipulate its price.Theres a lot of coins out there that you can invest to,you just need to do a lot of research because investing has a lot of things to consider like the product,development team,and roadmap so you wont be investing to these shitty coins.

pang trading lang sir ng btc. nagtratrade dn kasi ako ng straight. like nung 9k btc sinell ko sa coinsph then bought back at 6k.
ang hassle lang nung send pako ng send sa bittrex back to coinsph

Do not use any language other than english here,or you might be banned by the moderators.This is altcoins discussions so we are not allowed to use tagalog language here,you can pm me directly so i can help you with cryptocurrency trading,our fellowmen should help one another.We can make a lot of money in trading if you know what you are doing.

ntrader

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tether only for change ur coins when market is not stable and I do not advise you to hold it for long term. for example when BTC gonna to crash you can change into Tether then when the current of reverse you can change again into BTC. so that is only for value saving of of your assess. beside this; Tether has some problems with federal rules i some one waiting for solve their problems

withche.07

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Tether is definitely safe to trade, I have tried it couple of times on bittrex, I basically returned back to ethereum and bitcoin quite easily. But I don't trust exchange named bitfinex and I don't plan to hold tether to jump on pumps beforehand.

BTCMILLIONAIRE

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You don't know when the Bitfinex/Tether bubble will pop.

If they go insolvent, get hacked, decide to print too many Tethers out of thin air, or do anything else that would tip trust into it over the edge Tether could low all of its volume nearly over night.

If you want to use it make sure not to keep any significant amounts of Tether for prolonged periods of time.

EvaGC

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Have you check other alternatives to Tether and the USDT?

If I may suggest a stablecoin, 100% asset-backed: the GLX.

The GLX is going to be traded on the Globcoin Platform now being built. Token pre-sale is open and has a nice bonus.

Jarx

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As I heard the Tether is just like Ripple: the people gonna hype it and artificially rise the price, selling the coin after some level of price. You can earn some fund on that but be ready the coin is speculations only one.

Iyanu14

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I made research tether is ok, nothing is shady about tether bad media is the problem affecting it, i trade tether on daily basis the fact the they are being accused of shady biz.

xrpdavid

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I'm pretty sure Tether is safe. I wouldn't put too much money in it though, but I'd give that advice for any coin honestly. Just use tether for very short amounts if you think the market is dipping or you just want to store your money somewhere so it won't dip and you can easily buy new coins with it.

Yana_1

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In my opinion - tether, like an unexploded shell. You never know when it will break (scam). Today they have dismissed their auditors, tomorrow they write all well, we can confirm their tethrs with real money. Then it may turn out that everyone can not.

danherbias07

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Shady and fishy. (fish in the shadows) Grin

Use it but dont let it stay there. It is the same as the USD, it just went online. Anytime they can just stop it and who knows, they might not go to jail. Thanks to them a lot of money is wasted and crypto investing might go down for a little.
Be really careful there, just use it as a means of escape.

thepo1m

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For me I still think, Tether is still the best fiat gateway for one not until those projects entering the stablecoin space proof they can delivered on thier promises, for now we now Tether has money in bank but what we are not sure is the amount they have in the bank. but most of these projects don't have any proof they have money to back their tokens

lobo13hf

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Quote from: vince212 on February 20, 2018, 11:00:13 AM

hi im from the philippines and we have a big premium in buying and selling of bitcoins
so now i just want to trade btc using usdt-btc pairing in bittrex. however i am aware of the
subpoena to tether regarding their shady business

should i stay away from usdt for safety?

You may need to start using the real dollar pair. i remember about bittrex will try to replace all of the usdt pairs with real dollar pair in the future. But it seems you can still use usdt until we have a conclusion about the result of an audit by bitfinex team auditor to check the availability of reserve funds to backing tether as the stable token just like the dollar.

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