Topic: Tether Backed with 1:1 ( Stable Coin ) USDT (Read 368 times)

Well, recent events have not been reassuring, and this stealthy ToS update should be extremely worrying. I have completely switched to other stablecoins already, but I fear that many are still using USDT and a potential crash would be devastating for crypto in general.

If tether can print unlimited money the exchange have to stop taking it who knows the exchange must be taking bribe and getting extra tether to accept it.. Tether is a big scam which even exchange plays along with

The tether scare will become less and less relevant if people just switch to using other stablecoins.
As they should.
I don't care if tether is actually backed by something, even if it is, its creators are doing a horrible job at countering FUD, so it deserves to disappear.

We must accept the reality. Tether foundation is claiming that they are maintaining proper reserve for their circulating tethers in fiats and it is being regularly audited and published. But, no one could cross check in real time because there are no such facilities available for this crypto community nor for exchanges (only government may go for it through legal proceeding).

I do hear some governments are printing money on their own regardless of how much gold reserve that they are having. They believe they could manage their circulating supply so that they are going for that. Similarly, why not tether may be doing based on some estimations and calculations.

Does paypal circulate money based on their available funds ? Where is the proof for that ?

Trade volumes are separate from market cap figures and are typically determined by how much a specific asset was traded on exchanges globally in the last 24 hours

A recent audit purports that Tether (USDT) has enough USD reserves to cover its total supply so it should be relatively trustworthy to use, but if you're unsure there's several other options available such as USD Coin (USDC) and Gemini Dollar (GUSD) which are supported by the top exchanges

You can buy  and sell your coins several times a day if you are  trading with  it and that will be  included in the trading volume.
But the ratio of Tether vs USD still remains 1:1

Until it all goes wrong.
Still no audit of their accounts from 3rd party is there?

Yes, tether is obviously at the top, when it comes to stable coins. It has maintained, its position for a while now among the top ten cryptocurrencies, sustaining market cap volume as well. With this I can say, it is a good currency to maintain stability.

Tether still has same potential as a stablecoin, but I think it will be beaten by other better stable and reliable coins.. Actually, there is doubt about Tether being totally trustworthy..

I think backing crypto-assets with real precious metals value is way better and more stable than just fiat money. If we observe Gold price, it is very stable with a greater percieved value. Actually, Gigzi ico project has the potential to compete with these stable coins. Plus, its team are developing the treasury app, when precious metals will be stored.

Since October Tether has been slowly taking coins out of circulation, probably because of all the pressure coming down on them to vouch for their tokens. Was Tether overprinting tokens? Probably; its hard to say for sure. In the last year 4 other stablecoins have entered the market that are currently in the top 100.

Because Tether is not absolutely kept at $1 (its currently $1.02), this is why the total coins in circulation don't match the market cap. What coinmarketcap.com currently says about them isn't too much to worry about.

Some people sold tether even less than 0.90$ with panic.

It is always important to stay cool in this market.

Theice Bakkt are including this to get it audited that way u.s goverment will see whats happening.. regulations is good for cryptos future.

The creator was always trying to avoid audit by the regulators. That's my point in the past. If that backed by fiat and the total supply must match with the volume. It looks fishy for me personally and since that i was stop by using tether and move to another stable coin.

The talks about the fact that this stable coin is scam, has been around for a long time. but so far there is no official confirmation of this has been found.

🧒 kid
Tether is backed by 1:1 ratio

So what is the name of the coin? What is your going to point out? Is it another Tether coin? because you mention the 1:1.. Seems you forgot the name of your coin, is it out of excitement? lol!

  nah something is fishy about it the supply and market cap don't match on tether..

It means the same tether is exchanged more than once giving a higher. volume than the entire supply.

I would like to raise a very strong point about Tether Backed by 1:1 over here
https://pasteboard.co/HVbcwS2.jpg
the above image displays that it has Total supply of 2,580,062,243 USDT
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https://pasteboard.co/HVbcIL5.jpg
the above image displays it has a volume of $3,752,040,845 USD as of 6th january


now how is this even possible the one which is backed with 1:1 to have value over 3.7 Billion for 2.5 billion token
because if you multiple 1.02 X 2,580,062,243 its =  2631663487.86
but over here we have $3,752,040,845 USDT

another point is on 21st december tether had 24 volume of over 6.8 billion
now the token are either disappearing from 6.8 billion tokens if its backed with 1:1 so the total supply remains 2,580,062,243 USDT to this date
How is this possible what is happening here

i really feel goverment should remove tether and stable coins cuz nobody understands or knows how much its being printed.. as its not being regulated.
https://wallet.tether.to/richlist these wallets does not represent to whom tether tokens are been given
the volume dont match the marketcap this needs to be exposed.
I feel tether has a wallet and the creator has been manipulating with unlimited tether tokens that's the only reason we cannot see the tether actual usage and volume.A group of people controlling tether are easily able to manipuate with 10 to multiple billion of USDT.

If the volume of bitcoin when its green can raise upto 10 to 15 billion in a day where are these volumes coming from when There is no volume showing to the marketcap to pump 10 to 15 billion plus in a day is impossible because tether marketcap itself is around 2.5 billion.
This is really serious i feel someone could check tether out..