Pages:
Author

Topic: Tether Seems like Sound money (Read 401 times)

legendary
Activity: 3192
Merit: 1359
www.Crypto.Games: Multiple coins, multiple games
Today at 11:35:21 AM
#45
It cannot be denied that Tether is the best investment of all time, where Tether is very stable and its value always follows USD movements, and Tether is an altcoin that can be a security for crypto assets, where if the crypto market is experiencing chaos or the price value is very unstable, then tether could be the best solution to be able to secure your crypto assets, namely by exchanging your assets to tether.

Just remember: "What goes around, comes around". Tether's rise to glory could all come down to an end if something unexpected happens in the future. After all, empires don't last forever. Who would've thought a big and mighty exchange like FTX would go all the way down the drain in an instant? The same can happen with Tether in the long run. I'd proceed with caution, especially when Tether has been unable to prove its USD reserves. The company has been increasing USDT's supply without regular audits.

Since stablecoins aren't backed by the government (in this case, the US government), you can lose everything without being able to claim back your money. You're much safer saving money (Fiat) in a bank. Especially if you're an American citizen. Those living abroad would have no other option but to stick with Tether if they want the security and stability of the USD without crossing borders. The future is unpredictable, so I can only hope for the best. Wink
jr. member
Activity: 63
Merit: 1
May 04, 2024, 07:51:22 AM
#44
As already written above, the main problem of USDT is the possibility of freezing.
But this is not relevant for all blockchains.

This possibility is kinda expected, they had to do that to be allowed to operate. Otherwise, they'd face a lot of problems with governments.
sr. member
Activity: 854
Merit: 262
Eloncoin.org - Mars, here we come!
May 04, 2024, 05:53:48 AM
#43
As already written above, the main problem of USDT is the possibility of freezing.
But this is not relevant for all blockchains.
USDT is a good stable coins and it's the best we have in the crypto space among so many that are trying to get more adoptions just the like the USDC. TEther is also investing part of their funds in Bitcoin and have backups in most of the firms. I know that anything can happen in the crypto market but that should not make us to tarnish a good project now thatbwe are seeing the adoption and features we have and that are available for us.
member
Activity: 154
Merit: 33
Eloncoin.org - Mars, here we come!
May 04, 2024, 04:28:45 AM
#42
The tether is a structured digital fiat that's projected to scale the values of crypto Coins on stabilities.
So by which you can't have it in your pocket as the traditional usdt under the control of the government since it can't be printed, then it's all hope to be digital currency as well as other cryptocurrencies.

Only a government that has the thoughts of deflating inflations in their countries can implement to indulge in finding investing in the Crypto markets in other to backup the state by which their fiats such as the usd can be valuable and also promotes economy rates.
newbie
Activity: 0
Merit: 0
May 04, 2024, 03:50:35 AM
#41
As already written above, the main problem of USDT is the possibility of freezing.
But this is not relevant for all blockchains.
full member
Activity: 921
Merit: 100
#SWGT PRE-SALE IS LIVE
May 03, 2024, 05:22:54 AM
#40
It cannot be denied that Tether is the best investment of all time, where Tether is very stable and its value always follows USD movements, and Tether is an altcoin that can be a security for crypto assets, where if the crypto market is experiencing chaos or the price value is very unstable, then tether could be the best solution to be able to secure your crypto assets, namely by exchanging your assets to tether.
legendary
Activity: 3122
Merit: 1032
#1 VIP Crypto Casino
May 02, 2024, 04:29:19 AM
#39
Well even with the shrinking market share Tether is reporting profits for quarter 1. The new record profit for the biggest Stablecoin was $4.52 Billion just in the first quarter.

This profit comes from US Treasury holdings. And gains from Bitcoin and gold investments. https://cryptoslate.com/tether-reports-record-4-52-billion-profit-in-q1-despite-shrinking-market-share/
 
legendary
Activity: 3192
Merit: 1359
www.Crypto.Games: Multiple coins, multiple games
May 01, 2024, 02:05:28 PM
#38
Well Tether has now invested $200 Million into a biotech firm called Blackrock Neurotech. It is now the majority owner of this start up company.
The company creates brain to computer interfaces. And it implants them to allow people to control computer and neuroprosthetics.
https://finance.yahoo.com/news/tether-makes-strategic-investment-200-041317766.html

Interesting. This could pave the way for a "New World Order". Maybe Tether invested in the biotech company to force people to pay with implants in the future? It could mark the end of wearables (smartphone wallet app, smartwatches) and credit/debit cards as we know them. Since Tether's main stablecoin is USD-backed, such a move would help prevent the US from losing superpower status. Only time will tell.

While Tether's moves regarding its USDT stablecoin are shady, no other competitor has been able to take down its place in the market yet. USDT is by far the largest and most trusted stablecoin in the world. As long as Tether complies with the regulators, nothing else matters. For true sound money, I'd suggest you consider BTC instead. Even though it's volatile, the cryptocurrency can't be debased or shut down by anyone. Wasn't the whole point about eliminating middlemen and becoming your own bank? Grin
legendary
Activity: 3122
Merit: 1032
#1 VIP Crypto Casino
May 01, 2024, 03:41:59 AM
#37
Well Tether has now invested $200 Million into a biotech firm called Blackrock Neurotech. It is now the majority owner of this start up company.
The company creates brain to computer interfaces. And it implants them to allow people to control computer and neuroprosthetics.
https://finance.yahoo.com/news/tether-makes-strategic-investment-200-041317766.html
legendary
Activity: 3192
Merit: 1359
www.Crypto.Games: Multiple coins, multiple games
April 19, 2024, 11:37:49 AM
#36
We will have more of these stablecoins, it's reported that Ripple will also be launching their own stable coin so I don't know if that's the way for them to pump their own XRP coin as for sure there will be more buyouts of it to move the price just as what Tether did to BTC before.
Ripple to launch U.S. dollar stablecoin, taking on a $150 billion market dominated by Tether, Circle

Of course. Ripple will bring its own stablecoin to try to compete against Tether/USDT. But it won't succeed, especially when the latter has first-mover advantage. Tether will remain the "King of Stablecoins" until it goes all the way down the drain in an instant. We can't say it's "sound money" when it's backed by a private company. Without investor protections or guarantees of any kind, you're on your own.

At least, we have plenty of alternatives to choose from. As long as you refrain yourself from putting all of your life savings into stablecoins, there should be nothing to worry about. Who knows how regulations will shape the stablecoins industry in the future? Grin
sr. member
Activity: 1106
Merit: 421
April 06, 2024, 11:11:26 AM
#35
Many governments do not legalize Bitcoin.  What else to buy bitcoins and use when needed!  They think that if they legalize Bitcoin, their country's currency will devalue and corrupt people will be able to easily convert their black money into white money.  Because of this, many governments do not want to recognize Bitcoin.  But it would be very good if the developing countries buy bitcoins with their reserve money instead of borrowing from other countries and sell it when the price of bitcoin rises and use it for the country's needs.  Because we know that during the bull run the price of bitcoin increases a lot.
hero member
Activity: 2968
Merit: 600
Eloncoin.org - Mars, here we come!
April 06, 2024, 03:50:41 AM
#34
We will have more of these stablecoins, it's reported that Ripple will also be launching their own stable coin so I don't know if that's the way for them to pump their own XRP coin as for sure there will be more buyouts of it to move the price just as what Tether did to BTC before.
Ripple to launch U.S. dollar stablecoin, taking on a $150 billion market dominated by Tether, Circle
legendary
Activity: 3192
Merit: 1359
www.Crypto.Games: Multiple coins, multiple games
April 05, 2024, 07:26:35 PM
#33
Thanks for stating the essence of stablecoins or tetter, as in the case study, their essence is just to fill a financial gap on the short term, as far as cryptocurrency goes, cryptos are converted to stablecoins to escape prices dump, so when they're in stablecoins, price dip will not affect the trader's capital. Capital is held on the short term in a stablecoins, pending when the owner wants to convert it for usage.

If a local currency is facing depreciation, instead of leaving money in the bank, where it's purchasing power will keep devaluing, a person can save his money by converting it to a stablecoin, to escape their currency devaluation, pending when he'll need to spend his money.

Stablecoins are tied to the value of Fiat, so if the currency they're pegged to falls down in value, it's game over for "hodlers". In fact, stablecoins are much riskier than Fiat because there's no investor protections or guarantees of any kind. You're entrusting a private company with your funds instead of the government. I don't agree with OP's claims that Tether is "sound money". The issuing company has been shady from the start. No regular audits and constant addition of new USDT to the circulating supply (money printing) is a huge red flag for me.

Stablecoins are only useful for trading or when you want to protect yourself against short-term volatility. Did we forget what happened to Terra/LUNA's UST stablecoin? I hope there isn't another major collapse in the future, or investors will lose confidence in stablecoins for good. Lets move on, shall we? Cheesy
legendary
Activity: 3122
Merit: 1032
#1 VIP Crypto Casino
April 05, 2024, 12:56:24 AM
#32
Well yes I do agree with you. Tether is the best Stableoin to hold in your portfolio for alot of reasons.

They keep minting more of them. And have now just minted $2 Billion on the tron network. This is now $6 Million just in past month the Tether treasury has minted. 

https://crypto.news/tether-mints-billion-usdt-tron/
full member
Activity: 364
Merit: 220
Eloncoin.org - Mars, here we come!
March 26, 2024, 11:06:19 AM
#31
You've missed the point for USDT existing.

Tether or USDT is a tool, something that is created to satisfy a need. That is the need for something that has a stable value (as compared to cryptocurrencies otherwise there is nothing stable) that crypto traders can use to store their capital whenever they want to exit the market or something to use to quickly and cheaply transfer funds between exchanges.

Tether is just filling a gap. It is not supposed to and it can not ever be money. There are a couple of fundamental flaws that prevents it from becoming money. (1) it has no cap meaning it can never be store of value due to its inflation (2) it is pegged to a fiat that also has no limit and has inflation.

It also can not be pegged to bitcoin because it loses its whole purpose! In other words as long as bitcoin itself exists, you don't need something that is pegged to it 1:1 and has the same value. It would make no sense.

Thanks for stating the essence of stablecoins or tetter, as in the case study, their essence is just to fill a financial gap on the short term, as far as cryptocurrency goes, cryptos are converted to stablecoins to escape prices dump, so when they're in stablecoins, price dip will not affect the trader's capital. Capital is held on the short term in a stablecoins, pending when the owner wants to convert it for usage.

If a local currency is facing depreciation, instead of leaving money in the bank, where it's purchasing power will keep devaluing, a person can save his money by converting it to a stablecoin, to escape their currency devaluation, pending when he'll need to spend his money.
legendary
Activity: 3192
Merit: 1359
www.Crypto.Games: Multiple coins, multiple games
March 26, 2024, 08:47:55 AM
#30
"Why not just sell your crypto directly to Fiat?"

Many people do not have that option, so Tether quickly caught on when most major exchanges offered it as a USD alternative. USDC started later, so Tether had a huge head start. I am really surprised the the big heap of rotting scam has not exploded yet.

Yes, USDC is a much safer bet.

If stablecoins were truly-backed by USD reserves, they would've been a great option for those looking into USD alternatives. Especially people living in third world countries. But that's not really the case these days with most stablecoin issuers doing shady stuff behind the scenes (adding more units to circulating supply without regular audits). USDT is certainly not an option I'd consider to secure my money long-term. Competing stablecoin USDC can be trusted due to the company's regulatory compliance. Allowing customers to exchange 1 USDC to $1 USD when it lost its peg for a short time, was a great strategy to build trust within the stablecoin itself. I doubt Tether will do the same in the future.

Besides, the US national debt keeps increasing at an alarming rate. It won't be long before the real USD weakens until it loses its position as the world's reserve currency. Once that happens, you can say bye-bye to USDT and similar coins for good. Maybe it'll be time to move to Euro-backed stablecoins? Grin
sr. member
Activity: 2128
Merit: 259
Vave.com - Crypto Casino
March 23, 2024, 11:57:17 AM
#29
If the dollar is debt structured, then USDT is tied to the value of one dollar, but in reality it is tied to promises and there is not even 1% of the reserves from net deposits. USDT is very bad and you should not consider it as a long-term investment. If you want to invest in a stable currency, there are better projects than PYUSD USDC DAI.
Usdt is still the same thing as dollar,  it won't be a good decision for one to consider usdt as a good and longterm investment. Taking usdt as an investment is not really an investment,  it is just like keeping money in the bank not knowing that the money is losing value with time. I wont advice any one to keep  stable coin as an investment,  in cryptocurrency we have good investment like Bitcoin to be consider as a better investment outside cryptocurrency their are other good investment.
There are no reason to keep holding USDT for the long time as purposes of long term investment or other any reason. First of all no profits for it holding because it's stable coin, then if it's a centralized ecosystem so it will be risky to holding, specially i use it in P2P and sometimes to convert my altcoins that is my use cases in stable coin Tether.
full member
Activity: 560
Merit: 161
March 23, 2024, 11:29:27 AM
#28
If the dollar is debt structured, then USDT is tied to the value of one dollar, but in reality it is tied to promises and there is not even 1% of the reserves from net deposits. USDT is very bad and you should not consider it as a long-term investment. If you want to invest in a stable currency, there are better projects than PYUSD USDC DAI.
Usdt is still the same thing as dollar,  it won't be a good decision for one to consider usdt as a good and longterm investment. Taking usdt as an investment is not really an investment,  it is just like keeping money in the bank not knowing that the money is losing value with time. I wont advice any one to keep  stable coin as an investment,  in cryptocurrency we have good investment like Bitcoin to be consider as a better investment outside cryptocurrency their are other good investment.
newbie
Activity: 6
Merit: 0
March 23, 2024, 10:59:25 AM
#27
"Why not just sell your crypto directly to Fiat?"

Many people do not have that option, so Tether quickly caught on when most major exchanges offered it as a USD alternative. USDC started later, so Tether had a huge head start. I am really surprised the the big heap of rotting scam has not exploded yet.

Yes, USDC is a much safer bet.



They buy btc to back up their currency USDT so that's what the money should be backed by btc. The digital gold.
Think about the fiat currencies every dollar bill in your pocket are debt the USDT seems much more reliable then fiat, USDT can and it should decouple of dollar If the dollar value don't go up.
Me and many others like to see one day USDT paper currency also.....

.....
That's what the btc should be all about backing up the currency value for currency issuer.

Seriously? A stablecoin that constantly add new units into circulation without regular audits is considered "sound money"? Looks more like a scam to me. It won't be long before it all blows up. And when it does, expect market prices for major cryptocurrencies to go all the way down the drain in an instant. USDC is a much safer bet, since the company backing it is regulatory-compliant. Circle (the issuer of USDC) went as far as redeeming USDC to $1 USD for its customers even when the stablecoin lost the peg for a short amount of time. This helps build trust among investors and traders alike.

Tether/USDT won't provide proof of its USD reserves for some reason. I'd take it with a grain of salt, especially when we saw Terra/LUNA's stablecoin collapse in an instant. Why not just sell your crypto directly to Fiat? It's much safer this way. Cheesy
legendary
Activity: 3192
Merit: 1359
www.Crypto.Games: Multiple coins, multiple games
March 22, 2024, 10:31:56 PM
#26
They buy btc to back up their currency USDT so that's what the money should be backed by btc. The digital gold.
Think about the fiat currencies every dollar bill in your pocket are debt the USDT seems much more reliable then fiat, USDT can and it should decouple of dollar If the dollar value don't go up.
Me and many others like to see one day USDT paper currency also. I rather hold new dollar (USDT) Then just the current dollar wich is debt structured.
The path to financial freedom comes first we need to get rid of the debt based economy so the real way Will be USDT backed by digital gold the btc and other digital currencies.
Goverments also can function better If they buy btc and whatever budget they need , for example to fix health care or to build up something then they might sell some part of their btc to get USDT instead of using debt and making inflation high they can use sound financial system.
So instead of taking the loan goverment can buy dca way BTC with tax payers money and If btc price goes up they can sell and with that funds they can a lot good things in society.
I don't know about USDC but USDT financial structure looking more solid.
USDT is best money out there right now because they backing up with btc reserves.
That's what the btc should be all about backing up the currency value for currency issuer.

Seriously? A stablecoin that constantly add new units into circulation without regular audits is considered "sound money"? Looks more like a scam to me. It won't be long before it all blows up. And when it does, expect market prices for major cryptocurrencies to go all the way down the drain in an instant. USDC is a much safer bet, since the company backing it is regulatory-compliant. Circle (the issuer of USDC) went as far as redeeming USDC to $1 USD for its customers even when the stablecoin lost the peg for a short amount of time. This helps build trust among investors and traders alike.

Tether/USDT won't provide proof of its USD reserves for some reason. I'd take it with a grain of salt, especially when we saw Terra/LUNA's stablecoin collapse in an instant. Why not just sell your crypto directly to Fiat? It's much safer this way. Cheesy
Pages:
Jump to: