Topic: Usdt are safeheaven to avoid volatility and goverment restrictions (Read 252 times)
There is no cryptocurrency in my view that is a safe haven. The only purpose of fiat pegged crypto currencies aka stablecoins is to hedge against a drop in price of other non-stablecoins cryptocurrencies. Different stablecoins have different risks and the safest would be an actual fiat deposit 1:1 to the stablecoin and that fund must be safely stored somewhere in some account. This process should be audited regularly by reputable auditors and the reports made public. The rules of the fund should be that at any time when a stablecoin holder holds one unit of stable coin it should be possible to convert that to one fiat unit. Of course there will be logistical limitations to this but this should be the rule. Then that stablecoin will have less risk. It is also possible for stablecoins to have other types of reserves and assets to serve as collateral for those stablecoins but those projects' risks are higher. There are clouds and uncertainty hanging over USDT so it is uncertain how "safe" USDT is.
March 12, 2022, 05:30:57 PM
As we see usdt is best for using it world wide best liqutity no volatility and no regulations lets keep one thing holy in this world holy treasure as USDT its true valued asset you can hold it wallet and it has good privacy.
Looks like you are trusting USDT too much and you think it is the resolution for all the economic struggles on a global scale 
. You need to understand USDT is simply said to be pegged by USD and what happens if the value of USD goes down and another controversy is that they are not pegged 100% by fiat and there is no transparency on that aspect either and if a government wants to ban them, they can do so easily. 
March 12, 2022, 03:37:43 PM
At the moment the usdt is taking on a very great importance in the world of finance, as it has increased by at least 30% over the Ruble, in addition to this it represents stability for when there are falls in the crypto and eventually it is a safety haven for those who do not like volatility and want to protect their value in Fiat with respect to cryptocurrencies.
If we take into account that the usdt is becoming increasingly important and relevant in countries with inflationary economies, it would have a higher potential in terms of measurements, because anyone who has a particular economy based on BTC quickly changes it to USDT would be protecting the current value of btc just in case it drops in price, and thus it would be well above its local currency, which would guarantee stability, and this alone could be called financial freedom, I see this as one of the many advantages that have.
If we take into account that the usdt is becoming increasingly important and relevant in countries with inflationary economies, it would have a higher potential in terms of measurements, because anyone who has a particular economy based on BTC quickly changes it to USDT would be protecting the current value of btc just in case it drops in price, and thus it would be well above its local currency, which would guarantee stability, and this alone could be called financial freedom, I see this as one of the many advantages that have.
March 07, 2022, 04:20:19 AM
Exactly, USDT isn't a safe haven for avoiding government restrictions since it's a centralised project supporting real USD, the only thing is do better is volatility I won't advice anyone to store their USD using USDT
Theoretically, you can use it to avoid Government restrictions. With the way these huge crackdowns on Russian banks, cards etc affected them, I expect them to find safety in USDT or other Stablecoins as a way to avoid having their funds frozen or seized. That is, unless or until USDT decides to have a crackdown themselves on Russian owners of their Stablecoin which I would not be surprised to happen. The only true way of safely avoiding restrictions, which works both in theory and in practice, that I currently see is investing in Bitcoin and other truly decentralized Cryptocurrencies.-
Regards,
PrivacyG
March 07, 2022, 04:11:08 AM
Anyone who say somethimg bad about USDT is enemy of freedom and security and his enemy of crypto people.
I am sorry to burst your hype but the United States Dollar is the enemy of freedom right now, right next to any other dirty Fiat currency. USD holders have been pretty much losing purchasing power every single day while Bitcoin gave you so much more purchasing power long as you held through bull runs. We are living a wage slavery.USDT is even worse. A crappier version of Fiat, similar to Binance's fake Bitcoin. It is great for preserving USD value of your Cryptocurrency holdings, but stable coins are usually non audited or improperly audited currencies that give you no advantage over Fiat. You can have your USDT wallet seized or frozen. Bitcoin wallets can not be frozen or seized.
Anyone who says something bad about USDT is enemy of freedom? Read that again, because this sentence is so contradictory it is funny.
-
Regards,
PrivacyG
March 07, 2022, 02:29:21 AM
USDT is pegged to it's fiat value USD, so I don't see the reason why it would be a safehaven? Not to mention that it can be frozen even if it was in your wallet, whether you want it or not. Pretty sure you should easily be able to find instances where Tether on wallets was frozen, most of it due to it being a "hacked" amount or something similar. So to say, having an asset where others could freeze it isn't really something I'd consider as a safehaven.
I keep funds in exchanger if one penny lost it will be all over fb twotter and on news that exchanger will be labeled as thief exchangers have full responsebility to protect and reinburse our funds.
Wallets are different.
I dont buy this usdt freeze story !
Well go do so, you'd only highlight yourself being a dumbass. Wallets are different.
I dont buy this usdt freeze story !
March 07, 2022, 02:04:08 AM
I keep funds in exchanger if one penny lost it will be all over fb twotter and on news that exchanger will be labeled as thief exchangers have full responsebility to protect and reinburse our funds.
Sure. In theory, this sounds amazing. Ask Bitfinex users who have lost billions how the reimbursement has been going for them and if they would ever hold their funds on an exchange again. Yes, they would probably punch that hacker in the face a thousand times too. Too bad they have no idea really who it is, even if this is about a decade later.I dont buy this usdt freeze story !
Also i want to see person face to face who dare to steal from me? Not many of them who dare to even look at my eyes and steal from me but u might tolerate thiefs andi dont i will f..uck up exchanger who steal from me its easy you hire hackers they can fu..ck up easy but exchangers knows so they avoid from problems.
At this point, you sound as immature as a child. You need a wake up call, buddy. Nobody gives a crap about your vicious eye stare when they steal your coins over the Internet.Also i want to see person face to face who dare to steal from me? Not many of them who dare to even look at my eyes and steal from me but u might tolerate thiefs andi dont i will f..uck up exchanger who steal from me its easy you hire hackers they can fu..ck up easy but exchangers knows so they avoid from problems.
Btc can falll on price
Then why use USDT in the first place? We have bank accounts, credit cards, cash.. Why even bother using a fake version of an already useless currency? Makes no sense.-
Regards,
PrivacyG
March 07, 2022, 01:18:40 AM
OP praising Tether remains me of a bunch of older forum accounts,that were just shitposting and spamming on the forum praising stablecoins.Perhaps this is the same guy,just using another alt account.
Tether is just tied to the US dollar and the US dollar will be losing value for sure.Basically USDT is the same shit as USD.There's no added value in USDT,in comparison to the USD.
For some reason the USD increased it's value in my country,due to the Russian invasion in Ukraine.
I'm sure that this increase in value will be temporary.What if Russia,China and India stop using USD in their foreign trade?I'm sure that the USD will lose a lot of it's value,if such event occurs.
Tether is just tied to the US dollar and the US dollar will be losing value for sure.Basically USDT is the same shit as USD.There's no added value in USDT,in comparison to the USD.
For some reason the USD increased it's value in my country,due to the Russian invasion in Ukraine.
I'm sure that this increase in value will be temporary.What if Russia,China and India stop using USD in their foreign trade?I'm sure that the USD will lose a lot of it's value,if such event occurs.
March 06, 2022, 11:56:54 PM
I am sorry to burst your hype but the United States Dollar is the enemy of freedom right now, right next to any other dirty Fiat currency. USD holders have been pretty much losing purchasing power every single day while Bitcoin gave you so much more purchasing power long as you held through bull runs. We are living a wage slavery.
Well, those who are wage slaves certainly aren't alone; I'd say most of us on the forum (and in the world) are just average people working jobs we may or may not like. There's nothing wrong with that IMO as long as you can find happiness in life and not be killed spiritually by whatever you do for work, if you know what I mean.And as long as wages keep pace with inflation, all is generally OK. The problem is when they don't, and I'm not sure if the average hourly wage has increased at all since we've started to see this inflation as of late. I agree that it's crazy to be saving money in the form of the USD (or any fiat currency), and it doesn't even matter if it's in an interest-bearing account.
USDT is even worse. A crappier version of Fiat, similar to Binance's fake Bitcoin.
Agreed; I'm not sure why OP seems to be such a fan of that particular stablecoin. All they are essentially is a placeholder for fiat on a crypto exchange, i.e., a way to hedge against crypto volatility (usually bitcoin) for the time you have your funds on whatever exchange you're using. But ultimately USDT still represents fiat, and I'm certainly not a fan of it. March 06, 2022, 10:28:56 PM
I heard last week on Twitter that some USDT got frozen due to sanctions. No idea if it’s legit but I would not be surprised.
Tether was frozen from time to time, remember that $10Million tether hack a while back? Well they froze it right away.
It’s centralized it’s not like Bitcoin.
Tether was frozen from time to time, remember that $10Million tether hack a while back? Well they froze it right away.
It’s centralized it’s not like Bitcoin.
March 06, 2022, 03:26:25 PM
I don't trust USDT. It's like fiat, but worse. With fiat, there's the state that is responsible for its relative stability and, if the state is fairly alright and stable, it more or less works. And then there's USDT, which is basically dollar, only it isn't because it's not backed up neither by US central bank, nor even by physical dollars.
But for those living under very strict regimes, such as in Russia right now, when having USD is basically illegal (there are tough limitations from the Russian gov about financial limits), I guess USDT is a fair option, for the time being, if one doesn't want to risk investing in something as volatile as BTC. But lol, op, USDT is not 'cheap enough', it's literally meant to always cost 1 dollar per coin.
But for those living under very strict regimes, such as in Russia right now, when having USD is basically illegal (there are tough limitations from the Russian gov about financial limits), I guess USDT is a fair option, for the time being, if one doesn't want to risk investing in something as volatile as BTC. But lol, op, USDT is not 'cheap enough', it's literally meant to always cost 1 dollar per coin.
March 06, 2022, 03:22:26 PM
USDT is not fully decentralized. It's just a mirror image of USD but in the form of digital currencies. USDT is a stable currency and as a stable currency it can provide security to your portfolio in the time of bear market but that doesn't mean its full fill all the needs of cryptocurrencies. It lacks the ultimate element of crypto assets and that is decentralization.
USDT is centralized and there's no way it can be decentralized when it's back with fiat or just like what you said a mirror image of fiat but in the form of digital currency. Somehow when you hold your funds or portfolio in USDT to avoid the bear market someone should know that it is not a safe haven. I would rather stick to my hardware wallet with BTC than converting it to another altcoins which is not safe.And for OP, I have a feeling that you were just being sarcastic or you don't actually know what you were talking about.
March 06, 2022, 02:44:38 PM
As we see usdt is best for using it world wide best liqutity no volatility and no regulations lets keep one thing holy in this world holy treasure as USDT its true valued asset you can hold it wallet and it has good privacy.
Lets keep it real and holy the usdt freedom of hold wealth and move wealth and protect urself against volatility.
We all have mission to keep this HOLY usdt is truly holy lets not let the smucks the regulators and sec to touch it.
Only way they can speak about it this is only when they have solution to protect customers privacy and it protection.
Usa goverment should put all his useless law enforcement to protect USDT against hackers at least they what is needed.
Usdt is most valued asset in the world its easy to use it fast and cheap enough.
If they f..up USDT me and many other people will leave crypto.
Anyone who say somethimg bad about USDT is enemy of freedom and security and his enemy of crypto people.
Long life for USDT also usdc is good i dont mind as long as stpupid guys in suit the regulators dont fu...ck it up.
So usdt is good lets keep one thing good in crypto the usdt thank you who ever created usdt its best.
USDT is not fully decentralized. It's just a mirror image of USD but in the form of digital currencies. USDT is a stable currency and as a stable currency it can provide security to your portfolio in the time of bear market but that doesn't mean its full fill all the needs of cryptocurrencies. It lacks the ultimate element of crypto assets and that is decentralization. Lets keep it real and holy the usdt freedom of hold wealth and move wealth and protect urself against volatility.
We all have mission to keep this HOLY usdt is truly holy lets not let the smucks the regulators and sec to touch it.
Only way they can speak about it this is only when they have solution to protect customers privacy and it protection.
Usa goverment should put all his useless law enforcement to protect USDT against hackers at least they what is needed.
Usdt is most valued asset in the world its easy to use it fast and cheap enough.
If they f..up USDT me and many other people will leave crypto.
Anyone who say somethimg bad about USDT is enemy of freedom and security and his enemy of crypto people.
Long life for USDT also usdc is good i dont mind as long as stpupid guys in suit the regulators dont fu...ck it up.
So usdt is good lets keep one thing good in crypto the usdt thank you who ever created usdt its best.
March 06, 2022, 01:04:07 PM
It's pretty obvious that this kind of crypto are there to help investors fight volatility. So it can be used to hedge your money if you are afraid that for example, bitcoin might go down. But we really don't know if stable coins are back up 1:1 in terms of cash reserves, that is the main argument against them for many years now. So holding them now doesn't mean you are holding US dollar, of course they could be pegged in US dollar, but what if there is a rampant withdrawal? sort of a bank ran? So there is the danger with using them as so called safe heaven, for me, it's better if you put your wealth in crypto like BTC.
March 06, 2022, 10:01:43 AM
When USDT for cryptoners becomes something that hinders freedom, what is the definition of safeheave in your opinion? just because it is protected by a government agency and you seem to depend on fiat inflation? what if it turns out that USDT tokens are not backed up with fiat? but also broadly USDT means you have surrendered your ownership to full control. What is safeheaven? We seek financial freedom, for no one but ourselves to be free in terms of ownership and the answer remains in Bitcoin.
March 06, 2022, 09:26:54 AM
Right now even if one might take few steps back but one cannot deny that we are approaching world war 3 which does mean that there would be no safe heaven as long as it's connected to the government, US have involved themselves very deeply and it does not seem that they would be able to back up at this moment.
Any centralized currency is not a safe havens, only a decentralized currency would be safe from all the hardships which come amid the crisis that we are facing right now.
USDT is pegged 1-1 to USD so if the government of US falls, so will the USDT, they don't have jobs, they don't have workers, they are in the middle of a war right now believe it or not things might go wrong so fast in a matter of seconds.
I would rather have bitcoins than USDT.
Any centralized currency is not a safe havens, only a decentralized currency would be safe from all the hardships which come amid the crisis that we are facing right now.
USDT is pegged 1-1 to USD so if the government of US falls, so will the USDT, they don't have jobs, they don't have workers, they are in the middle of a war right now believe it or not things might go wrong so fast in a matter of seconds.
I would rather have bitcoins than USDT.
March 06, 2022, 08:58:56 AM
Few things do not add up in this. First, USDT is centralised currency and you don’t have complete control on it as that of bitcoin or other altcoins with private keys and stuff. Secondly, USDT is already under the radar of banks and courts for few allegations. I’m not sure how much safe heaven it is but it seems as of now you can have partial trust in the tether.
Moreover, there are coins which are stable coins and are decentralised such as DAI so you can always choose it over tether for security reasons. If you want full ownership then you must have your own keys and decentralised coin.
Moreover, there are coins which are stable coins and are decentralised such as DAI so you can always choose it over tether for security reasons. If you want full ownership then you must have your own keys and decentralised coin.
March 06, 2022, 08:32:53 AM
Outside the guard against volatility there is no security/privacy guaranteed with usdt most especially Tether as it is attached to the regular fiat currency meaning it's backed by it's equivalent value in USD. This brings us to fact that no crypto asset is 100% satisfactory it's either you go by the volatility or you go by the regulations
March 06, 2022, 07:39:24 AM
Usdt is safeheaven and usdc
https://bitcointalksearch.org/topic/usdt-is-safeheaven-and-usdc-5388316
I do not understand why to create the same topic on the forum in different sections.I posted my answers in that thread. The only way tokens like USDT exist is to be friends with the SEC
https://bitcointalksearch.org/topic/usdt-is-safeheaven-and-usdc-5388316
I do not understand why to create the same topic on the forum in different sections.I posted my answers in that thread. The only way tokens like USDT exist is to be friends with the SEC
March 05, 2022, 03:57:05 PM
Yes I am From a country with bad economy and our local currency is synonymous to getting it's value dropped, also the government aren't friendly with crypto-currency enthusiast In the country. it's really stressful, and sometimes unwise converting my Crypto into my local currency, so when ever I am have an indecision on my next move in Crypto I rather convert in to USDT for the main time as to sending it to Fiat.
Jump to: