USDT keeps getting better - page 3. | Bitcointalksearch.org

revilo

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Quote from: cabalism13 on April 16, 2021, 03:22:24 PM

Quote from: jrrsparkles on April 06, 2021, 12:25:55 PM

One reason is enough to hate USDT which is centralization because they are in the complete control over the coins and they keep minting tokens from nowhere which means the coin is highly inflated.

that's one good reason but not to hate, USDT being centralized has it's own benefits.
And besides it is one of the most used stable coin in all of the exchanges that existed especially on Binance, I always use USDT as a pair to alts as I find it much better than using BTC or ETH.

Well, a centralized stable coin can mean a lot of trouble if a government decided to intervene for whatever reason. And also there are people who could let the system collapse within a blink of an eye. Is USDT feasible these days despite the high fees?

Does Tether still offer a version that is not ETH based?

Bitstar_coin

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Unarguably usdt is the most used stablecoin in the market, I have really enjoyed the trc20 usdt service, seeing this news makes me excited, usdt in polkadot blockchain will be a big plus to their already verse user base, this is definitely a good moves by the usdt team.

dezoel

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Quote from: Williamm07 on April 06, 2021, 12:20:23 PM

USDT is getting more expansion by going on polkadot chain and kusama combined, this means USDT isn't playing around, I know not everyone likes USDT but what could go wrong on here? It's still the best stable coin I've known till date, Wink

don't mind me if you are USDT hater Grin

, read the full news below

I am not a USDT hater but I am honestly afraid of its reserve back ups.

We know USDT is already available on almost all platforms like we already have ETH/TRX/BNB versions and hence getting into polkadot and other new smart contract supporting platform is not a surprising move in my opinion.

I agree USDT is stable but I am seeing all others like BUSD, GUSD and DIA also doing great. Every other stable coins also performing up to the level best to keep their value around $1 at any instance of time (there could be minor fluctuations of one or two cents up or down and we can ignore that).

I do not agree that just because of adopting new platform, if you say USDT is getting better then that must be a pure shilling. I just need proper auditing for their reserves so that we could trust them without any hesitations.

Rampagoe004

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Since a long time ago usdt we can rely on to hold a stable coin, especially now usdt has expanded its platfrom network with DOT and I believe when the market is experiencing a dump then usdt is the choice to secure our assets and now increasingly confident with the coin, and at this time those who do not like the usdt should be aware that the coin is worth using as a stable coin.

Anonylz

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Quote from: cryptoaddictchie on April 06, 2021, 10:53:19 PM

Quote from: Williamm07 on April 06, 2021, 12:20:23 PM

USDT is getting more expansion by going on polkadot chain and kusama combined, this means USDT isn't playing around, I know not everyone likes USDT but what could go wrong on here? It's still the best stable coin I've known till date, Wink

don't mind me if you are USDT hater Grin

, read the full news below

https://www.theblockcrypto.com/post/100614/tether-usdt-stablecoin-polkadot-kusama

Actually nothing special even they loss their case on sec last time. There are plenty of other choices for stablecoin. The only thing that keeps usdt growing is community already used to them as being used as primarily main stablecoin on majority of exchanges.

I don't take it negatively that they will expand on polkadot and kusama network cause its a good thing that they will also have own stablecoin on a new ecosystem.

Community backing is what give any project a strong hold and real support, usdt has that Community backing and support, even with the many other stable coin options out there, majority often opt for USDT regardless of what controversy is surrounding the project,
Am glad to see them expanding to more blockchain, it gives opportunity for more usage and even a much bigger support from this community, my hope is for usdt to sort their loopholes or shortcomings and be transparent about their dealings.

bitkanu

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Quote from: zasad@ on April 17, 2021, 04:21:50 PM

USDT - Number of Banned Addresses: 390 Banned Addresses
https://duneanalytics.com/phabc/usdt---banned-addresses
Check out these statistics before storing USDT tokens.
The company has no published audit.
They block tokens without explanation.
It is the most popular stablecoin, but caution should be exercised

I do believe the majority of those addresses were coming from scammers or hackers. We know that so well if the hackers will always try to spread its hacked amounts and that is increasing the possibility there would be some addresses that related to the 1 hacker.

zasad@

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USDT - Number of Banned Addresses: 390 Banned Addresses
https://duneanalytics.com/phabc/usdt---banned-addresses
Check out these statistics before storing USDT tokens.
The company has no published audit.
They block tokens without explanation.
It is the most popular stablecoin, but caution should be exercised

tarable

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Quote from: CrossroadBTC on April 15, 2021, 11:03:54 AM

Whatever extra they prints shouldn't affect anybody, USDT works for whatever reason it was built to work for and that's to pegg USD, as far as my 1$ remains 1$ I'm fine with whatever updates they pull off, this is the best stablecoin coin so far I believe

Yes, because the stable coin is the benchmark price will always remain even though there is a slight decline and increase in USDT, it is also followed by the USD currency in general so that the price can be fixed and will not harm those who hold it.

kak uli

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Quote from: Williamm07 on April 06, 2021, 12:20:23 PM

USDT is getting more expansion by going on polkadot chain and kusama combined, this means USDT isn't playing around, I know not everyone likes USDT but what could go wrong on here? It's still the best stable coin I've known till date, Wink

don't mind me if you are USDT hater Grin

, read the full news below

https://www.theblockcrypto.com/post/100614/tether-usdt-stablecoin-polkadot-kusama

I don't think it's a matter of hating USDT, but the token always looks stable with movements that slightly touch high prices. usdt is a good token but the token price is always normal.

haidil

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Quote from: jrrsparkles on April 06, 2021, 12:25:55 PM

One reason is enough to hate USDT which is centralization because they are in the complete control over the coins and they keep minting tokens from nowhere which means the coin is highly inflated.

It is true that at first glance they are in full control and this is certainly not good. if the usdt could mint the coins they wanted it wouldn't be good

[email protected]

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Quote from: deathcode on April 16, 2021, 10:53:11 PM

Quote from: S4VV4S on April 16, 2021, 02:43:48 PM

The benefits of usdt holders are increasingly expanding and dominating a lot of crypto, usdt is flying so that it can reduce high gas by exchanging it on usdt, usdt also expands the platform network so that it has good shipping for the future

You are right. Since there are now more options for networks available, I believe there is no reason to doubt USDT. last I heard of their newest network on the polka dot chain. innovation with a better choice due to the cost issues of the ethereum network.

Some of those who doubt are people having transaction fee problems. although many are registered on several networks. but not all exchanges also support some existing networks.
most of them are still on the ERC and TRC networks.

TastyChillySauce00

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Quote from: lalabotax on April 15, 2021, 07:56:07 PM

I'm still confused why someone hates USDT. This is a stablecoin and this is the most used stable coin in exchanges. So, I personally don't mind enough about this, as long as we can still use it, why not?
And moreover sometimes I can take profits from converting USDT to my local currency Grin

Some rumour going around about how they could print USDT so fast it grows the stablecoin's market capital into top 5 coin with highest market cap, I mean, USDT is owned by private company and it makes sense that people would be curious or even doubtful but now they have published their proof of funds I guess that could answer all the doubt. But at this point, I doubt a company like tether gonna make cheap move like exit scam because they simply too famous to do that and it's just gonna ruin their reputation that they have been building since years like that. I could assume that most of the popular stablecoins are safe to use.

deathcode

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Quote from: S4VV4S on April 16, 2021, 02:43:48 PM

The benefits of usdt holders are increasingly expanding and dominating a lot of crypto, usdt is flying so that it can reduce high gas by exchanging it on usdt, usdt also expands the platform network so that it has good shipping for the future

You are right. Since there are now more options for networks available, I believe there is no reason to doubt USDT. last I heard of their newest network on the polka dot chain. innovation with a better choice due to the cost issues of the ethereum network.

makishart

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Quote from: S4VV4S on April 16, 2021, 02:43:48 PM

The benefits of usdt holders are increasingly expanding

That's why we have no reason to hate but some people think decentralization is everything when it comes to the crypto but the fact that if centralized exchange site is still become the entity that was holding the largest volume in the crypto market. That proves that the decentralization is not always needed for sure. There's a moment that we don't need the platform or coins to be truly decentralized.

cabalism13

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Quote from: jrrsparkles on April 06, 2021, 12:25:55 PM

One reason is enough to hate USDT which is centralization because they are in the complete control over the coins and they keep minting tokens from nowhere which means the coin is highly inflated.

that's one good reason but not to hate, USDT being centralized has it's own benefits.
And besides it is one of the most used stable coin in all of the exchanges that existed especially on Binance, I always use USDT as a pair to alts as I find it much better than using BTC or ETH.

S4VV4S

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The benefits of usdt holders are increasingly expanding and dominating a lot of crypto, usdt is flying so that it can reduce high gas by exchanging it on usdt, usdt also expands the platform network so that it has good shipping for the future

rozak

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Quote from: lalabotax on April 15, 2021, 07:56:07 PM

I'm still confused why someone hates USDT. This is a stablecoin and this is the most used stable coin in exchanges. So, I personally don't mind enough about this, as long as we can still use it, why not?
And moreover sometimes I can take profits from converting USDT to my local currency Grin

it's because there is some bad news on social media regarding USDT. I think you've heard of it too.
there is a possibility also because the ERC20 USDT is so expensive for transactions. hence some who do not know USDT TRC20 which has lower transaction fees will consider USDT to be a bad asset.
actually nothing different from BUSD and other stable assets.

lalabotax

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I'm still confused why someone hates USDT. This is a stablecoin and this is the most used stable coin in exchanges. So, I personally don't mind enough about this, as long as we can still use it, why not?
And moreover sometimes I can take profits from converting USDT to my local currency Grin

ene1980

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Quote from: DarkDays on April 15, 2021, 11:11:00 AM

As well as that, USDT don't yet have proof (nobody has seen this) that they have their USDT tokens backed up by real USD. This has been a problem for years

This is the biggest problem everyone is telling for years but some of the fools does not even understand the gravity of the issue and they feel like if the protocol keeps on changing the system is getting better. There are a lot of people in the market who does not have any idea about economics nor have real experience in understanding these things and so is the reason you are seeing many fan boys of these shit coins.

Quote from: DarkDays on April 15, 2021, 11:11:00 AM

now which is why some people dislike USDT but somehow USDT still seem to get away without having to show this proof despite being asked several times already Shocked

They cannot run all the time and get away with things like that, there will be a time when they will be seized to exists and when that happens people always like to learn things the hard way.

Silberman

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Quote from: jrrsparkles on April 06, 2021, 12:25:55 PM

One reason is enough to hate USDT which is centralization because they are in the complete control over the coins and they keep minting tokens from nowhere which means the coin is highly inflated.

It is very obvious why people do not really like stable coins, the concept of a coin that is backed by a fiat currency is not very solid in the mind of most people, however people could tolerate that but as we know there were accusations against tether about whether or not every single one of their tokens were backed with dollars and even if they still maintain that has always been the case many people do not trust those assertions because it is a similar game than the one governments were playing back when their currencies were backed by gold.

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