Tether FUD | Bitcointalksearch.org

X-ray

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Quote from: brainactive on June 13, 2021, 08:38:03 AM

Over half of BTC trades are for USDT so if people lose faith in Tether, could lead to a severe liquidity shock for Bitcoin market

This problem has been exist since a few years ago and people keep ignoring this but in my opinion is not it when people distrust tether and they will be converting their tether into the another asset like bitcoin or something else?

This could also be the worst scenario as well. We have seen that multiple news accusing the reserved funds of tether.
I may feel a bit worry about this but the time will tell and i hope anything will fine

bitcon

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Quote from: brainactive on June 13, 2021, 08:28:00 AM

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

It is a fiat pegged currency, so can it cost less than its pledge? Tether was accused of not having this collateral, but as I know there were several audits that confirmed that Tether had this sum of money.
There were cases when stablecoins collapsed, but there were algorithmic stablecoins that couldn’t fight against panic. The most important thing in crypto is trust. As long as people believe in Tether, there is no point in worrying.

masterrex

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Quote from: brainactive on June 13, 2021, 08:28:00 AM

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

I think there's nothing new about this FUD, And it was already discussed many times, that's why let it vanish naturally, by the way, the concern is about the Bitcoin price impact if the Tether face scrutiny from the regulators and find out that it was not totally backed with fiat (dollar), IMO there's nothing serious about that fear because Bitcoin is not pegged on any currency or assets, so why bothering with it if the Tether operation will be banned or ceased, I believe there's a lot of stable coins out there to use. that's why it will not affect the Bitcoin price for that particular reason only and that's my opinion about it.

zasad@

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The capitalization of USDT is not high enough to threaten the market.
USDC is developing very quickly and you can use this stablecoin to store your funds.
The crypto market is still waiting for a lot of consumers, so it is better to keep part of your money in fiat.

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Quote from: mindrust on June 14, 2021, 04:26:00 AM

Quote from: brainactive on June 13, 2021, 08:28:00 AM

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

Vitalik is a clueless fool. Tether is as solid as a rock. If you are not caught up with the latest news, let me tell you. Tether is being audited by the New York Attorney General every 3 months or something. If NYAG says Tether is OK, then it is OK. Therefore you shouldn't worry about it. Vitalik is doing concern trolling on Bitcoin. He should focus on his own home-project instead.

This guy's strategy is obviously trolling on other coins to push his project up. well, things like this work, when we haven't experienced yet how Elon Musk manipulate the market with his tweet and Vitalik, is obviously following his footstep to cause some ruckus in the market. only fools will believe what he says about Tether and if they will just blindly follow what he says, they will become a victim while he is on his chair laughing about the things he said.

o48o

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Quote from: brainactive on June 13, 2021, 08:28:00 AM

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

Well if it suddenly would (for some reason) fail, it would shock the markets because there would be ton of liquidity problems to deal with. It would be chaos all around, and of course that would have short time effects on bitcoin price as well.

I respect Vitalik as an intellectual but i don't have a clue why he thinks Tether would have any problems, Tether is closely working with regulators unlike nearly every IDO project eth has btw.

brainactive

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https://www.youtube.com/watch?v=pILNFu0bxx0

Thoughts?

brainactive

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Quote from: SaShiRaJaVu on June 19, 2021, 06:55:57 PM

Is there anything that is new, the transparency issues were there from the beginning and even during the last rally everyone raised their doubts when Tether started minting millions of coins without any transparency and they still keep on doing that and everyone who started a business around the cryptocurrency market should know about the risk.

Yes, the issue is not new and has been around for some time.

Tether is not $1M in market cap like it was in 2016. It is now over $60B and has secured a stablecoin network effect. This could be potentially concerning.

I think there's two issues here:
1) Whether Tether is dodgy
2) If Tether is dodgy, will the flow on effects be disastrous

While I'm not certain about the answer to issue 1 (there appear to be plausible arguments for both sides), I have not seen any well-made arguments explaining why a Tether implosion won't be diastrous.

SaShiRaJaVu

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Quote from: brainactive on June 13, 2021, 08:28:00 AM

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

Is there anything that is new, the transparency issues were there from the beginning and even during the last rally everyone raised their doubts when Tether started minting millions of coins without any transparency and they still keep on doing that and everyone who started a business around the cryptocurrency market should know about the risk.

brainactive

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Wow, almost everyone in this thread doesn't seem to think Tether is an issue.

Just wanted to share an article I came across, which paints a pretty dark future for Tether and crypto. As much as a I'd like to dismiss this as FUD, it does raise a few interesting questions that are worth considering. If anyone wants to try and debunk or provide counterarguments to this, I'm all ears.

https://muellerberndt.medium.com/is-tether-a-black-swan-51095720b01c

mrdeposit

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Quote from: brainactive on June 13, 2021, 08:28:00 AM

Is it something to be concerned about?

If you are holder of usdt, you can switch to another stablecoin. TUSD or DAI? I have read about these stablecoins proven to be backed to 1:1 USD.

Quote from: brainactive on June 13, 2021, 08:28:00 AM

Could it possibly bring down Bitcoin if Tether implodes?

Btc has nothing to do with usdt, on the contrary, those who sell it will return to btc and this will definitely pump prices. Wink

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It's not something need to be concerned. FUD is just a common thing in crypto. It has been a very long time to see the FUD to the bitcoin and tether were always happening. It will actually affect the cryptocurrency but remember that if FUD can come from the various parties. there's no reason to feel worry with it dude. The old members have been experienced various FUD and just ignore it and everything will fine dude.

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Quote from: brainactive on June 13, 2021, 08:28:00 AM

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

Tether loses its power in cryptocurrency market when more stable coins have been created and grown up, gt better adoption by the people.

I think terribly bad news with Tether USD will have negative impacts on the crypto market. I undoubtedly think of such negative impacts from USDT but it will not an apocalypse for crypto market. It has many other choices as stable coins. If the market want to have a healthier time, it is time to minimize the impacts as well as dependence on Tether.

And without Tether USD, with the mainstream adoption for cryptocurrency, people nowadays will be able to use not only other stable coins but also hundreds of fiat currencies as well gift cards, etc. to buy crypto.

mindrust

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Quote from: brainactive on June 13, 2021, 08:28:00 AM

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

Vitalik is a clueless fool. Tether is as solid as a rock. If you are not caught up with the latest news, let me tell you. Tether is being audited by the New York Attorney General every 3 months or something. If NYAG says Tether is OK, then it is OK. Therefore you shouldn't worry about it. Vitalik is doing concern trolling on Bitcoin. He should focus on his own home-project instead.

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Quote from: Bitcoinjheta on June 14, 2021, 02:23:30 AM

there is nothing to worry about the tether coin when it rose to 3rd spot of coinmarketcap. USDT is a fiat pegged currency and stablecoin it cannot bring down with the value of bitcoin. Btc is highly volatile with the value equivalent to dollar is so high while usdt has only $1 value in the market.

Marketcap of USDT is not the consider but the issue behind the accountability of there fiat reserved in the bank. Bitcoin will be heavily affected by USDT if ever it will turn scam since the majority of paring of BTC is in USDT and everyone will be panic sold once pairing was halted due to issue. Total chaos on crypto will occur.

leea-1334

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Tether FUD is as old as Tether itself. Just like Ripple. So here is the deal,,, if you think they actually got away with a small fine and now this means they actually can still operate, then you are fine. But if you think that all their shady dealings mean that it is going to one day be a rug pull (like I do), then you better pull out of USDT asap.

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Quote from: brainactive on June 13, 2021, 08:28:00 AM

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

The thing with tether and i guess the main reason why people have concerns about it is the fact that we can not be 100% sure anymore that every USD-T that is minted is still backed by a real USD. In 2019 they changed their official wording from "every USD-T is backed 1:1 by real USD" to "we have enough reserves to cover every USD-T that is printed and from that point on people started to raise questions. I for myself am also using more and more USDC now instead of USD-T because USDC is made by coinbase and therefore regularly audited so you can be sure that here every USDC is really backed 1:1 by a real dollar.
If Tether should really implode than i think the effects on the whole crypto market will be huge. Tether is the 3rd biggest coin in terms of market cap and if it will go down i can easily see the total market cap going down by 50% or even 75%. So let's hope that Tether will stay stable.

Bitcoinjheta

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there is nothing to worry about the tether coin when it rose to 3rd spot of coinmarketcap. USDT is a fiat pegged currency and stablecoin it cannot bring down with the value of bitcoin. Btc is highly volatile with the value equivalent to dollar is so high while usdt has only $1 value in the market.

danherbias07

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Bring down Bitcoin? It never existed when Bitcoin was on the path of gaining a higher value. Then, it's like a mushroom that popped out of nowhere.
If there will be an effect, it will be Bitcoin, Ethereum, and XRP that would gain more value when USDT is out.
Investor will not try to withdraw them but rather put them in a different investment like the names that was said above.

We might go back old school on how the market fluctuates if ever stable coins are brought down.

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Quote from: brainactive on June 13, 2021, 08:28:00 AM

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

Well, the Blockchain Community is very solid and prioritizes transparency so basically it's not FUD but a fact that really happened. We need to be concerned about this because Tether is one of the most widely used Fiat in the global market today and it is very worrying that as far as I have read that USDT/Tether is not backed up by real assets (less than 10% on balance sheet) and the rest only commercial paper or fictitious assets. It's possible that this will have an impact on the Bitcoin market, Well let's see because this has been going on for a long time.

Topic: Tether FUD (Read 305 times)