Usdt safe heaven | Bitcointalksearch.org

Kyraishi

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Quote from: Voxo2222 on December 16, 2021, 11:25:24 AM

Usdt is only true safe heaven asset.
As usa will create good demand for dollars thpe usdt is safe heaven not gold not btc but usdt.

Truth never outspoken if too many people knows truth then whos gona lose at the end...lol
Keep fuds over USDT i keep buying all ur Usdt and laugh ur face.

The coming economic recressions will make every asset to go down only safe heaven is usdt.

Mynmar goverment are most smartest in the world and im surprised that they made usdt legal currency its easy for othets to visit country to use stable currency and specially now when dollar get stronger and stronger.

Why USDT?

There are so many better stablecoins out there if your ultimate objective is to gain exposure to the USD.

Plus, you could just hold the USD yourself instead of having to go through another layer of complexity and fractional reserve.

But just to be clear, I don't think that this is a great idea whatsoever. Fiat has never outperformed any commodity/equity/major crypto over a long enough period.

LUCKMCFLY

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Quote from: pieppiep on December 21, 2021, 08:04:16 AM

I don't mind if you say usdt is a safe haven for you but not for other people because they will have their own choice what coins that can be their safe haven. Maybe they consider having usdt to buy the coin instead of using their bitcoin or other altcoins and not using it as you did. It is good if the Myanmar government made usdt a legal currency because that can lead their people to use usdt to buy products at local stores while they don't have to use their bitcoin or altcoins.

I think that there are terms that should not be confused, there are safe havens, in the middle of a pandemic the Safe Haven for me was always BTC, and for me it is the best, the USDT or any stablecoin is not a safe haven, for me it is the value in FIAT Combined with crypto, which is valid, it is how to have FIAT but at the digital level, but they are concepts that are invariant, they cannot be mixed, because if we go to Safe Haven it has been gold, and for everyone in general gold always it will be and will represent that, in the not so distant future I am sure that the safe haven will be BTC.

Dragonfund

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Quote from: habebe on December 19, 2021, 02:24:54 AM

a few days later I was trading USDT unfortunately I lost my money where did the usdt hostage go I still trust a trading app who can now tell me if I am getting into a gainstorm wrong apps I use now the USDT ,, and in fact I immediately believed that in fact I have not memorized that trade hope that no one will fall victim like me and still believing in bitcoin just that and do not trust the misconceptions of others to enter

Your conception and analogy is quite different from that of OP. Its may be due to the fact that you lost your usdt due to one of the rules from the trading App or may be liquidated, the two options should fit in where you made a mistake in losing your usdt.

OP, I don't trust anyone in cryptocurrency, we hype projects to cash out projects and that's what most of the project do today with out intrinsic value, ethereum for example is overpriced with that shitty transaction model but the moon boys will come for your head when you speak against them.
Use Usdt at your own risk that's all I have to say.

DrBeer

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Stability ... Good word. But objectively, this word is weak, or only partially, applicable to the crypt and the implementation that is.
If we talk about the stability of Usdt, then we need to talk about the stability of the company / fund that organizes fiat collateral. So all stability comes down to this. Technology, tokens - that has nothing to do with it, they are actually empty bits that are worthless and have no value. The question is - who guarantees, or what guarantees the execution of the financial content of the entire mass of Usdt? I think there is hardly a 100% provision with live "frozen" money, and I am not sure that there are guarantors and insurers who, in the event of a negative situation, will provide liquidity for the entire mass of tokens.

DooMAD

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Leave no FUD unchallenged

Quote from: Voxo2222 on December 19, 2021, 04:13:26 AM

U can only trust money in ur hands

USDT isn't money in your hands. It's IOUs in your hands. Read the terms and conditions, notably sections 11 through 16. Tether, the company, effectively make no guarantees that you will be able to redeem your IOUs for any underlying assets and have dozens of "get out clauses" which they can throw at you to decline any complaints or disputes you might wish to raise.

I particularly like 11.15:

"that you will fairly and promptly report all income associated with your activity on the Site pursuant to applicable Laws and pay any and all taxes exigible thereon;"

So, essentially, if you haven't notified the taxman about every USDT you've ever bought or sold, then you are in breach of their terms and conditions and they don't have to give you squat.

And then 11.16 goes on to state that you have to notify Tether if you haven't been paying tax on it. Presumably so they can freeze your assets. You understand the part where you're screwed, right? Cheesy

Quote from: Voxo2222 on December 16, 2021, 01:39:11 PM

The usa dollar can crash no problem but usdt is not usa dollar usdt is not legal tender as currency of usa now so even the real usd can crash and it will crash usdt dont be affected

USD can crash, but USDT won't be affected? How do you figure? The value of USDT is pegged to USD, so if the value of USD collapses, so will the value of USDT.

sumant

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For me yes I always feel like heaven when I transfer my portfolio to usdt balance because after conversion I will not loss my balance very fast. There are many stable coins in market. People has their own choice to that in which they feel like heaven can go towards. Usdt has been a good stable coin so far in market I don't sell any coin in btc or different pairs because I don't trust crypto value too much.

NotATether

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Quote from: Voxo2222 on December 16, 2021, 12:25:22 PM

Who cares its backed or not ?
Usa dollar is backed by bonds what are bonds ?
Bonds are just someones liability or obligation to pay back.

Those bonds have legal liability, which means that if USA defaults on them, USD(T) value can and will collapse.

Quote from: Voxo2222 on December 16, 2021, 12:25:22 PM

Grow up kids stop asking pointless questions what matters is if a lot people use the currency and liqutity options usdt has best liqutity so far and thats matters the most.

Liquidity only matters if you need to withdraw billions of dollars from somewhere.

Since USD(T)'s market value is anything but constant (sure, the two are constant relative to each other - but even that is disputed and it's irrelevant to this thread anyway), it makes them anything but safe-haven assets.

A safe-haven asset is supposed to have a constant market value.

pieppiep

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I don't mind if you say usdt is a safe haven for you but not for other people because they will have their own choice what coins that can be their safe haven. Maybe they consider having usdt to buy the coin instead of using their bitcoin or other altcoins and not using it as you did. It is good if the Myanmar government made usdt a legal currency because that can lead their people to use usdt to buy products at local stores while they don't have to use their bitcoin or altcoins.

Wind_FURY

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Quote from: bitgolden on December 18, 2021, 03:56:58 PM

Quote from: Wind_FURY on December 18, 2021, 06:35:42 AM

OP, you don’t get the point. USDT issuance is controlled by a centralized entity which could go down anytime. Where is the “Safe Haven” in that? Bitcoin might be volatile, but its value is decided by the open market at all times, its issuance is fixed in the protocol, and its storage is only controlled by the owner of the private keys.

Unfortunately not many people do realize that, I get that it is not something that is easy to handle all the time, sometimes it is very difficult for people to see things for what it is and they make mistakes and deny the fact that they are making a mistake. I would never consider USDT as a safe heaven, I mean it is dollar after all and investing into fiat is not something that I would ever consider doing ever since I found out about crypto.

So far I only kept USDT or BUSD just because I wanted to have some sort of liquid so that I could invest that back into crypto whenever it falls, to be honest that does help me but it is a temporary thing and only until the price of crypto drops, then I am back into crypto. So all in all there will be some people who invest into shitcoins and USDT is just a shitcoin that is disguised as not so shitcoin.

Use it for trading to buy the DIP, but telling everyone that it’s a “safe haven” would definitely make me believe that OP is either oblivious, or he’s merely trolling. I’ll be nice and say he’s just oblivious, and that he needs to learn. Cool

Voxo2222

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Quote from: habebe on December 19, 2021, 02:24:54 AM

a few days later I was trading USDT unfortunately I lost my money where did the usdt hostage go I still trust a trading app who can now tell me if I am getting into a gainstorm wrong apps I use now the USDT ,, and in fact I immediately believed that in fact I have not memorized that trade hope that no one will fall victim like me and still believing in bitcoin just that and do not trust the misconceptions of others to enter

U can only trust money in ur hands anything online is in risky business.

habebe

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a few days later I was trading USDT unfortunately I lost my money where did the usdt hostage go I still trust a trading app who can now tell me if I am getting into a gainstorm wrong apps I use now the USDT ,, and in fact I immediately believed that in fact I have not memorized that trade hope that no one will fall victim like me and still believing in bitcoin just that and do not trust the misconceptions of others to enter

wxa7115

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Quote from: Voxo2222 on December 16, 2021, 11:25:24 AM

Usdt is only true safe heaven asset.
As usa will create good demand for dollars thpe usdt is safe heaven not gold not btc but usdt.

Truth never outspoken if too many people knows truth then whos gona lose at the end...lol
Keep fuds over USDT i keep buying all ur Usdt and laugh ur face.

The coming economic recressions will make every asset to go down only safe heaven is usdt.

Mynmar goverment are most smartest in the world and im surprised that they made usdt legal currency its easy for othets to visit country to use stable currency and specially now when dollar get stronger and stronger.

What you are saying does not make sense at all at any level, even if you consider the US dollar a safe haven which by the way it is not, then why hold USDT at all? You are incurring an additional risk by doing something like this, just hold the dollar in that case because in the case of USDT if the dollar crashes then USDT will crash too, but if at some point people lose confidence in the USDT then it will crash while the dollar will still remain in place.

And finally it seems as if you are not watching the news around the world at all, every single day there are many articles talking about the inflation around the world and specifically about the inflation of the US dollar, and a high level of inflation by definition makes an asset not a good option at all to be considered a safe haven.

bitgolden

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Quote from: Wind_FURY on December 18, 2021, 06:35:42 AM

OP, you don’t get the point. USDT issuance is controlled by a centralized entity which could go down anytime. Where is the “Safe Haven” in that? Bitcoin might be volatile, but its value is decided by the open market at all times, its issuance is fixed in the protocol, and its storage is only controlled by the owner of the private keys.

Unfortunately not many people do realize that, I get that it is not something that is easy to handle all the time, sometimes it is very difficult for people to see things for what it is and they make mistakes and deny the fact that they are making a mistake. I would never consider USDT as a safe heaven, I mean it is dollar after all and investing into fiat is not something that I would ever consider doing ever since I found out about crypto.

So far I only kept USDT or BUSD just because I wanted to have some sort of liquid so that I could invest that back into crypto whenever it falls, to be honest that does help me but it is a temporary thing and only until the price of crypto drops, then I am back into crypto. So all in all there will be some people who invest into shitcoins and USDT is just a shitcoin that is disguised as not so shitcoin.

fiulpro

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The reason why one might choose USDT over USD is simply because:
It's easier for trading with other cryptocurrencies

Why would you try and hold USDT? I do not understand the concept. Plus it's not a safe heaven:
Have you seen the excessive printing of money?? By the US government, even if you don't know about it you should try and rescarch.
Do you know how much debt there is on the government itself?? It's not simple.
Do you know that the current government is still taking on big projects perse with a massive debt and excessive printing of money, which as it turns out is awful for their economy. People are not taking jobs the mass resignation shows that they need big amends, it's only a matter of time till the country collapses, they can only hold that much.
Be your own judge and do the research first.

Leviathan.007

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I don't understand why do you name usdt as safe haven. If you really like investing in some fiat currency such as the dollar why you do not buy USD and keep it inside your pillow. What even makes usdt so special for investing in this situation. Inflation is rising every day all over the world including the USA and the money you hold and as usd is losing its value time by time while all other assets are rising and even food is rising with them. On the other hand, you will need to do more research about usd because the team behind this project had some problems and the price dumped a few years ago and this can happen again.

michellee

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USDT is the way you can save your money value to prevent the dropping of the crypto market so when the crypto market is down, you can buy back again with your USDT. But that will be your temporary way to save your money value because when you already have coins such as bitcoin and you can buy at the very lowest price, you do not need to have USDT. After all, you will see that your money value will not decrease too much and will increase someday. But maybe we can have a different opinion about USDT as a safe haven because that will depend on how we treat the USDT.

el kaka22

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I am pretty sure that OP is just not aware of the fact that USDT is controlled by one company and one company alone. The moment you have a problem with that company, USDT will worth zero and for some reason we should be trusting them with 70+ billions of dollars worth of USD? Why? Instead we are holding bitcoin and other trustworthy decentralized coins which for some reason bothers OP, I am guessing that he keeps all of his money in USDT and whenever people say something about that it hurts him because he knows that he is making a mistake if that many people say so.

The biggest defensive reaction whenever you are told you are wrong is to go on and do it even harder with the hopes that you are not that much wrong and others are wrong, it is just basic survival instinct that keeps you doing the same mistake since if it turns out to be a mistake, you will probably deny it even at that moment saying it will recover.

cheezcarls

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Quote from: Voxo2222 on December 16, 2021, 11:25:24 AM

Usdt is only true safe heaven asset.
As usa will create good demand for dollars thpe usdt is safe heaven not gold not btc but usdt.

Truth never outspoken if too many people knows truth then whos gona lose at the end...lol
Keep fuds over USDT i keep buying all ur Usdt and laugh ur face.

The coming economic recressions will make every asset to go down only safe heaven is usdt.

Mynmar goverment are most smartest in the world and im surprised that they made usdt legal currency its easy for othets to visit country to use stable currency and specially now when dollar get stronger and stronger.

I usually prefer save my money on stablecoins like USDT than in banks. Apart from USDT, other stablecoins like BUSD, USDC, TUSD and DAI are also great alternatives for us to store our money as savings if you don’t want to get affected by price fluctuations of cryptocurrencies.

redwine49

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Quote from: Koro-Sensei on December 17, 2021, 06:31:05 AM

Quote from: redwine49 on December 17, 2021, 05:15:08 AM

Quote from: Voxo2222 on December 17, 2021, 04:52:19 AM

Stablecoins might have flaws but they are serious things in crypto.
Anyone who think its a joke is just kid

no one said it's a joke. that is big concern and most people especially here warn the risk.
they not like ordinary bank, stock nor bond. so what you said about USDT "safe heaven" is not relevant.

Its main flaws is the printing spree they always made. They are releasing liquid USDT almost every week and that's im very curikus about. Tether is one of the mkst renowned stablecoin which has flaws of auditing and kts getting scary.

we never know everything inside tether. i am afraid history repeat itself just like USD

Quote

The U.S. dollar was first established as a currency of the world in the Bretton Woods Agreement of 1944, becoming the most dominant currency in the world afterward. It was originally traded as a coin valued by its weight in gold or silver and later traded as a paper note, which was redeemable in gold. In the 1970s, the gold standard was removed, and the value of USD was permitted to float.
source from https://corporatefinanceinstitute.com/resources/knowledge/finance/united-states-dollar-usd/

reference

Quote from: https://www.econlib.org/library/Enc/GoldStandard.html

Gold Standart

Wind_FURY

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OP, you don’t get the point. USDT issuance is controlled by a centralized entity which could go down anytime. Where is the “Safe Haven” in that? Bitcoin might be volatile, but its value is decided by the open market at all times, its issuance is fixed in the protocol, and its storage is only controlled by the owner of the private keys.

Topic: Usdt safe heaven (Read 350 times)