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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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.

worle1bm

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In what dimensions you are living and considering USDT safe heaven? Have you ever heard the word inflation that is continuously diluting the value of all the currencies? But yes it's safe for those who don't want to be part of revolution and go against the government or are you any government bank official who talks in their favour? But this statement is going to be disagreed with the major of members here as they know what it is capable of and what not.

arditiyan

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whatever your opinion about any coin in cryptocurrency I appreciate your opinion. however, believe me a USDT coin is not a safe coin. there is still a risk for any coin so far. in the crytpo market there is no guarantee of safe coins, only stable coins

dothebeats

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If USDT is the true safe haven, you wouldn't be in the cryptocurrency market anyway looking at cryptos and not cuddling with USD. The US dollar has been plagued with inflation and is continuously weakening whether you like it or not. There's just a lot of things going wrong on the side of the dollar that other fiat currencies are much more impactful and logical to hold in the long run.

USDT is a stablecoin, yes, but it is not immune to the effects of inflation and weaking dollar, hence it is not a safe haven as you claim.

Dragonfund

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Quote from: mindrust on December 17, 2021, 03:08:34 PM

I'd rather prefer BTC over USDT as a safe haven. BTC is limited to 21 million units. Bitfinex can create USDT out of thin air which means the supply of USDT is infinite. There are also lots of bad news about Tether lately. If tether goes down it will surely affect bitcoin but because of bitcoin's limited supply, it will recover fast. USDT is nowhere near of being a safe haven.

Am I the only one that think btc comparison with usdt is unnecessary! They are two different assets design to function differently, I can't imagine or think that usdt is a safe place to put my money to hedge against inflation, usdt was meant to hold value at a fixed price but bitcoin is meant to fluctuate in price Change.
BTC demand and supplies give it more purchasing power unlike usdt where your value will remain the same and may be reduction in purchasing power.

BITCOIN4X

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Quote from: kryptqnick on December 17, 2021, 11:25:22 AM

I agree with mk4 that these points about the USDT being great point to a fiat fan, basically. The USD is surely more secure than USDT, and if you generally believe that the economy is strong enough, the stability is worth it, and the inflation of the dollar is negligible, it's better to simply use the USD because at least it's something under control of the government rather than a shady company that might largely sustain the stability of their coin by trust, rather than real assets behind it. And trust can disappear quite quickly at the first signs of trouble. What makes the USD different is a very strong country with #1 economy in the world that will do its best to return the trust and sustain the value. Also, tons of other countries value the USD highly and use it as a reference point for their own fiat. All that is certainly not the case with the USDT.

Overall I think I agree with most of your points. USD is better than USDT if they are fiat fans and means they don't really support this decentralization as it seems they just want to stay centralized.

I disagree about USDT being a safe haven asset because in my opinion it is never better than fiat. If one agrees with centralization then they should not invest in USDT considering there are many risks to consider. It would be better for them to go to the bank and invest there with the amount of fiat they have than convince people about USDT.

suzanne5223

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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.

I don't see any reason why you have to join the Bitcoin community then.

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

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.

You're right truth never outspoken but if you follow Offshore alert you'll see a lot of lawsuits filed against the USDT team for misconduct.

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

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

Don't worry we have seen how the previous recession has helped BTC gain more awareness and surge in terms of price.

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

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.

Thats from your own impression because USDT is the most tricky stablecoin will have in the crypto market though it may be the first stablecoin to be created the Dev behind it are also one of the dishonest cryptocurrency team and I believe the Myanmar government are unaware of this before they make USDT a legal currency.

XCANA

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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.

Do remember that each coins could serve different purpose as you do believe that USDT is a safe heaven which I don't doubt it but remember that anytime that Bitcoin value appreciate the former still remain constant hope you are aware. Bitcoin could serve as an investment coins while USDT could serve as the coins you convert to faith in other to avoid market volatility.

mindrust

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I'd rather prefer BTC over USDT as a safe haven. BTC is limited to 21 million units. Bitfinex can create USDT out of thin air which means the supply of USDT is infinite. There are also lots of bad news about Tether lately. If tether goes down it will surely affect bitcoin but because of bitcoin's limited supply, it will recover fast. USDT is nowhere near of being a safe haven.

teosanru

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

Quote from: teosanru on December 16, 2021, 12:29:29 PM

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.

Haha it's really too funny you think USDT is a safe haven, it's backed just by one exchange which too isn't in very good shape these days, it's just that one exchange that claims that yes I am managing the whole USDT and I am keeping the whole amount of USDs safe with me against which this USDT is backed.

So basically you are saying we should trust a currency called USDT which is backed by USD in some account, while USD will definitely crash in the coming future. How does all of this make any sense tell me?

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 you will learn about this soon.
If they wanted to crash usdt together with dollar then they would added usdt as legal tender of usa long time ago.

By law usdt neither dai or usdc is not usa dollar.
I can make my own stablecoin and call it usa dollar but if its not officially approved as legal usd currency by the state until then its not a currency.

And if people start losing their usdt due to frozen uadt or whatever reason it will be global chaos and i dont think it will happening.

People should use more their tiny brain b4 they really say something

Dont talk what you hear on the news news are on purpose wrong always to lead you where the rich want you to be.
But learn real things education guys education.

Haha I'll learn about it soon? First check how is USDT minted or burned at Bitfinex Treasury and what do they do to tether it's value to the Dollar. Then tell me anything here. Secondly, let's come on to your global Chaos logic, what you are trying to say is that USD will crash and that won't cause global chaos but if Tether crashes alone it will be global chaos which is why you don't think it will happen? I don't know where are your bringing your points from, moreover you cannot make your own stablecoin, try doing it, you won't be able to maintain it's stable value because you should have a liquidity pool with yourself to maintain the value of that stable coin.

kryptqnick

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I agree with mk4 that these points about the USDT being great point to a fiat fan, basically. The USD is surely more secure than USDT, and if you generally believe that the economy is strong enough, the stability is worth it, and the inflation of the dollar is negligible, it's better to simply use the USD because at least it's something under control of the government rather than a shady company that might largely sustain the stability of their coin by trust, rather than real assets behind it. And trust can disappear quite quickly at the first signs of trouble. What makes the USD different is a very strong country with #1 economy in the world that will do its best to return the trust and sustain the value. Also, tons of other countries value the USD highly and use it as a reference point for their own fiat. All that is certainly not the case with the USDT.

ShowOff

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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

That's simply because USDT is used as a trading pair on many exchanges for bitcoin and thousands of other altcoin. I think if you want to discuss USDT issues in economics then I agree that this thread should stay here, but if you just want to compare these altcoin in your perspective, continue this thread on the Altcoin Discussion board.

I don't think USDT is a safe haven for long term investing and in most cases USDT is just used more as a trading pair than an investment. USDT is a centralized altcoin and it is not the best choice for long-term investment because with just a few mistakes your account and funds can be frozen. So don't push people to believe all your assumptions, we have every right to that.

darewaller

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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.

If you have this much trust on the USDT, then why not just hold the US dollar? The USDT stable coin is the same thing as the US dollar, so if you are holding this USDT coin, you are also holding the US dollar. USDT was created to be a digital dollar, and it pairs with the US dollar and moves the same direction with it. 1 USDT is the same as one U.S. dollar.

I have not even held the USDT in my wallet for once, because I don’t see the need for holding it . it’s still the same thing as when I am holding the US dollar. So, I just prefer to go for real cryptocurrencies that are not stable coins, such as the Bitcoin, Ethereum, cardano, and the rest of them that are really good. But it is still up to you, everyone has their own choice, and I wouldn’t be expecting you to also do the same thing that I am doing. You know what is best for you.

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Quote from: Gozie51 on December 16, 2021, 05:18:44 PM

Quote from: TheNineClub on December 16, 2021, 05:01:53 PM

My advice is, don't put all your eggs into one basket.

Exactly the point and like other contributors have mentioned inflation to be the underlying factor affecting USDT. If you convert or buy your money all into usdt so you also have to remember inflation. When USDT is pegged on the dollar we have to remember that it value won't remain the same at some point when it is either fiat. So buying some crypto is still good for diversification and not to tie down money in usdt as it has advantages and disadvantages.

at least by using usdt, it will minimize the risk of fluctuations, as the Myanmar government has started to use it, so they want to improve from the tourism sector by facilitating foreign tourists to their country. but indeed inflation is unavoidable and usd is based on the dollar which has a certain value in a country

Koro-Sensei

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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.

redwine49

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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.

Voxo2222

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Quote from: ?? on ??

Quote from: paxmao on December 16, 2021, 04:11:03 PM

Superfun post. At first I just was not sure if you were joking or actually serious about your mixed set of assertions, but after some consideration I am now certain that you are making fun of the whole thing. Yep, any establecoin is purely a joke: they have all the disadvantages of fiat, additional credibility issues around being backed up by anything at all and have a history of fraud and accusations. Anyway, perhaps useful for short times to avoid tax or artificially pump bitcoin price... all very legit activities.

If you think all stablecoins are just a joke then nobody will be worried about btc dip and all the noise people make trying to predict where the price is going next, let's face facts, btc is dipping and many people are taking their money into usdt or any stablecoins of their choice, that's because it is important to them to prevent their investment from going under and wait for years to recover,
You have to live now before living in future.

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

redwine49

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i read so much debate about USDT and @OP love too much about his USDT.
nothing is really immortal or safe including USDT, everything has risk.
it is true that stable coin now get more users and holders especially for crypto trader and investor.
@OP can buy many usdt with his fiat money as he please or he mean he just sell all his crypto for usdt and hold it for the rest of his life? Grin

but i laugh when @OP said he want to keep buying usdt.

adaseb

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Basically whether it’s hacked or not technically only becomes an issue if everyone tries to withdraw at the same time, which won’t happen.

There are probably a few millions of lost tether even from people sending to wrong addresses, forgetting their Bitcoin or Ethereum private keys or losing access to their coins somehow.

However if for some reason 100% tried to redeem their tether and then it turns out only 66% or so are out there, what would happen to the 33% of people. Most likely this will never happen so it’s not an issue however you don’t want to find out when it’s too late that there are liquidity issues.

Gyfts

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Quote from: paxmao on December 16, 2021, 04:11:03 PM

Superfun post. At first I just was not sure if you were joking or actually serious about your mixed set of assertions, but after some consideration I am now certain that you are making fun of the whole thing. Yep, any establecoin is purely a joke: they have all the disadvantages of fiat, additional credibility issues around being backed up by anything at all and have a history of fraud and accusations. Anyway, perhaps useful for short times to avoid tax or artificially pump bitcoin price... all very legit activities.

Perhaps this post is satire but the general narrative towards USDT is that it is a safe haven because of the ease it gives to crypto users to switch back and forth between currencies. This begs the question as to how exactly you define a "safe" storage of your money.

Some might consider "safe" to be a centralized digital token, pegged to an already inflating currency in which the token is backed by supposed assets which are periodically audited, but most common sense crypto users wouldn't touch USDT with from a long distance away.

24Kt

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Quote from: Gozie51 on December 16, 2021, 05:18:44 PM

Quote from: TheNineClub on December 16, 2021, 05:01:53 PM

My advice is, don't put all your eggs into one basket.

Exactly the point and like other contributors have mentioned inflation to be the underlying factor affecting USDT. If you convert or buy your money all into usdt so you also have to remember inflation. When USDT is pegged on the dollar we have to remember that it value won't remain the same at some point when it is either fiat. So buying some crypto is still good for diversification and not to tie down money in usdt as it has advantages and disadvantages.

I don't know if the OP read about the admittance of Tether way back in 2019 about their assets backing - https://www.forbes.com/sites/francescoppola/2019/03/14/tethers-u-s-dollar-peg-is-no-longer-credible. So for me, don't get too confident because we don't know the ultimate truth about their assets right now. Stablecoin may be good for short term holding to avoid inflation but check if this is good for long term, especially if their assets is questionable. So better diversify your portfolio, in case one goes wrong, you still have others to rely onto.

Gozie51

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Quote from: TheNineClub on December 16, 2021, 05:01:53 PM

My advice is, don't put all your eggs into one basket.

Exactly the point and like other contributors have mentioned inflation to be the underlying factor affecting USDT. If you convert or buy your money all into usdt so you also have to remember inflation. When USDT is pegged on the dollar we have to remember that it value won't remain the same at some point when it is either fiat. So buying some crypto is still good for diversification and not to tie down money in usdt as it has advantages and disadvantages.

TheNineClub

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Oncoming economic recession? Maybe, but economists have been prophesizing a recession saying that we are due for one, but honestly if the ongoing pandemic didn't kick it in overdrive, I'm not sure what will. But if a recession kick's in, then everything will be affected by it, and that includes the almighty dollar and its crypto counterpart. My advice is, don't put all your eggs into one basket.

Voxo2222

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Quote from: paxmao on December 16, 2021, 04:11:03 PM

Superfun post. At first I just was not sure if you were joking or actually serious about your mixed set of assertions, but after some consideration I am now certain that you are making fun of the whole thing. Yep, any establecoin is purely a joke: they have all the disadvantages of fiat, additional credibility issues around being backed up by anything at all and have a history of fraud and accusations. Anyway, perhaps useful for short times to avoid tax or artificially pump bitcoin price... all very legit activities.

Fiat currency is same the bankers we all know what they do who they are...not nice guys...still you use their currency daily.
So whats ur point ? Dont talk about morals in this world all the morals are gone allready everybody who power are corrupted big time as we all know this its not something new here

Quote from: Anguwa on December 16, 2021, 04:17:31 PM

Quote from: Voxo2222 on December 16, 2021, 03:36:29 PM

Quote from: ?? on ??

Welll usdt is most well lnown and a lot blockchains.
U wanna hold the asset wich has good liqutity options right ...usdc is also but circle sounds like more bankers centralized crap anyways if usdc getting more clear and they dont mess around with holders usdc...there is clear framework and protection for holders then usdc will be definately good one sure yeahh

I believe you, USDT is one of the trustable stable cryptocurrency token, usdt is available in most blockchain and its the trusted token to hold even if crypto market is down. There are other stable coins too like BUSD, which is also similar to usdt, holding these stable crypto tokens have not too much risk on them.

Smart guy goid exampke is ur post yeahh we dont need to listen those wall street shills or just brainwashed news junkies we see how the things are thts it black is black white is white.

Anguwa

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Quote from: Voxo2222 on December 16, 2021, 03:36:29 PM

Quote from: ?? on ??

Welll usdt is most well lnown and a lot blockchains.
U wanna hold the asset wich has good liqutity options right ...usdc is also but circle sounds like more bankers centralized crap anyways if usdc getting more clear and they dont mess around with holders usdc...there is clear framework and protection for holders then usdc will be definately good one sure yeahh

I believe you, USDT is one of the trustable stable cryptocurrency token, usdt is available in most blockchain and its the trusted token to hold even if crypto market is down. There are other stable coins too like BUSD, which is also similar to usdt, holding these stable crypto tokens have not too much risk on them.

paxmao

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Superfun post. At first I just was not sure if you were joking or actually serious about your mixed set of assertions, but after some consideration I am now certain that you are making fun of the whole thing. Yep, any establecoin is purely a joke: they have all the disadvantages of fiat, additional credibility issues around being backed up by anything at all and have a history of fraud and accusations. Anyway, perhaps useful for short times to avoid tax or artificially pump bitcoin price... all very legit activities.

passwordnow

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

Usdt is only true safe heaven asset.

No, I don't think so. The safe heaven asset for me is bitcoin. You haven't seen the news that revolved around USDT, don't you?
- Tether Freezes Millions of Dollars USDT in 40 Addresses Amid Regulatory Pressure
- Tether Can Freeze and Destroy Your USDT
How can it be a safe one if they have the freedom to freeze your asset?

Voxo2222

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Quote from: ?? on ??

Not just usdt but all stablecoins can be useful in the period where the market is down, right now it is hard to tell of we are in bull or bear, many crypto analysts seems to be bullish and some still insist btc will record a new ath, how true is this is yet to be known, so usdt can only be a safe heaven for some time and not while the bulls are back in the market because you will loss out on good profit.

Welll usdt is most well lnown and a lot blockchains.
U wanna hold the asset wich has good liqutity options right ...usdc is also but circle sounds like more bankers centralized crap anyways if usdc getting more clear and they dont mess around with holders usdc...there is clear framework and protection for holders then usdc will be definately good one sure yeahh

Voxo2222

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Quote from: Dragonfund on December 16, 2021, 02:07:27 PM

I don't know why you are so happy about USDT as a hold, beside it's only used to migrate value and protect users against volatility especially when the market is falling, it doesn't have any changes and may even be at risk of inflation, why not just hold bitcoin or any other coin that may of hedge against inflation.
Are you also aware that usdt( usdt )purchasing power has been reducing over the years, your $100 may not be able to purchase that same watch you bought today in near future.
My one cent advise, use usdt when it's necessary, never meant to hold for long term.

Im not happy no emotions in money world only rational thinking.
I and other very educated and smart people want to see things always how they are.
I dont dream...or alice wonderland i stand strong feet and no hopes no pointless dreaming.

QuickAccount

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

Quote from: teosanru on December 16, 2021, 12:29:29 PM

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.

Haha it's really too funny you think USDT is a safe haven, it's backed just by one exchange which too isn't in very good shape these days, it's just that one exchange that claims that yes I am managing the whole USDT and I am keeping the whole amount of USDs safe with me against which this USDT is backed.

So basically you are saying we should trust a currency called USDT which is backed by USD in some account, while USD will definitely crash in the coming future. How does all of this make any sense tell me?

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 you will learn about this soon.
If they wanted to crash usdt together with dollar then they would added usdt as legal tender of usa long time ago.

By law usdt neither dai or usdc is not usa dollar.
I can make my own stablecoin and call it usa dollar but if its not officially approved as legal usd currency by the state until then its not a currency.

And if people start losing their usdt due to frozen uadt or whatever reason it will be global chaos and i dont think it will happening.

People should use more their tiny brain b4 they really say something

Dont talk what you hear on the news news are on purpose wrong always to lead you where the rich want you to be.
But learn real things education guys education.

If you believe that USDT is a safe haven asset, why hold that instead of the US dollar? as mk4 said, if you're holding USDT why not hold USD on its own, you probably already are if you have any amount of money in your bank. This is a useless argument because USDT is not USD, they might have a close value, but they are not the same. One day USDT could disappear at the creators hands and theres nothing you could do about it. If you plan on holding USD, go to an ATM, withdraw your limit and put it in your floorboards.

Dragonfund

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I don't know why you are so happy about USDT as a hold, beside it's only used to migrate value and protect users against volatility especially when the market is falling, it doesn't have any changes and may even be at risk of inflation, why not just hold bitcoin or any other coin that may of hedge against inflation.
Are you also aware that usdt( usdt )purchasing power has been reducing over the years, your $100 may not be able to purchase that same watch you bought today in near future.
My one cent advise, use usdt when it's necessary, never meant to hold for long term.

Voxo2222

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Quote from: teosanru on December 16, 2021, 12:29:29 PM

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.

Haha it's really too funny you think USDT is a safe haven, it's backed just by one exchange which too isn't in very good shape these days, it's just that one exchange that claims that yes I am managing the whole USDT and I am keeping the whole amount of USDs safe with me against which this USDT is backed.

So basically you are saying we should trust a currency called USDT which is backed by USD in some account, while USD will definitely crash in the coming future. How does all of this make any sense tell me?

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 you will learn about this soon.
If they wanted to crash usdt together with dollar then they would added usdt as legal tender of usa long time ago.

By law usdt neither dai or usdc is not usa dollar.
I can make my own stablecoin and call it usa dollar but if its not officially approved as legal usd currency by the state until then its not a currency.

And if people start losing their usdt due to frozen uadt or whatever reason it will be global chaos and i dont think it will happening.

People should use more their tiny brain b4 they really say something

Dont talk what you hear on the news news are on purpose wrong always to lead you where the rich want you to be.
But learn real things education guys education.

teosanru

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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.

Haha it's really too funny you think USDT is a safe haven, it's backed just by one exchange which too isn't in very good shape these days, it's just that one exchange that claims that yes I am managing the whole USDT and I am keeping the whole amount of USDs safe with me against which this USDT is backed.

So basically you are saying we should trust a currency called USDT which is backed by USD in some account, while USD will definitely crash in the coming future. How does all of this make any sense tell me?

NeuroticFish

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

Who cares its backed or not ?

I care. And that's because I don't afford to not care.
Not backed means a risk. The risk to end up with worthless token no longer accepted anywhere.
If you don't, that's your problem, but please don't teach others into carelessness.

Voxo2222

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Quote from: adaseb on December 16, 2021, 12:15:34 PM

There are many risks to this. Not that I am against tether or anything but you need to consider this...

1) USDT is actually centralized even though if you keep it on the Bitcoin or Ethernet blockchain. The USDT creator can easily blacklist any coins at any time, and it did so in the past when some USDT was stolen.

2) USDT - This is very controversial but there is debate if USDT is actually backed 1:1.

3) USD in general is highly inflated. Look how expensive everything has gotten in the last year or even 10 years or so.

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.

Stop this ....oo backed or not at the end of the day it dint really matter.

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.

Just grow people ...the fiat currency not backed either with no real physical things.
But as long as there is enough users and liqutity options the currency will not collapse so same goes for usdt and all other stablecoins.

adaseb

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There are many risks to this. Not that I am against tether or anything but you need to consider this...

1) USDT is actually centralized even though if you keep it on the Bitcoin or Ethernet blockchain. The USDT creator can easily blacklist any coins at any time, and it did so in the past when some USDT was stolen.

2) USDT - This is very controversial but there is debate if USDT is actually backed 1:1.

3) USD in general is highly inflated. Look how expensive everything has gotten in the last year or even 10 years or so.

NeuroticFish

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

Usdt is only true safe heaven asset.

USD is already eroded by inflation.
USDT is in theory tied to USD value, but in reality sometimes it's not. Also for USDT you have to trust the issuer, which is a private company that can go bankrupt and your preciousss USDT will become worthless lightning fast.
Then you should read a little more about USDT and the issuer company called Tether. You'll see that they're not as nice as you'd think and the USDT they issue are not backed as good as they pretend it to be. And this also the potential to turn USDT into a "castle made of playing cards".

USDT and the other stable coins too are great for traders, for short term use, for transferring value in a very fast manner (value usually different than Bitcoin, since they use it for arbitrage), but let's not make the mistake to be overly confident in USDT.

mk4

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If you're THAT bullish on the US Dollar then why not just hold USD directly? And not stablecoins?

And I don't even know how you look at the USD as a good hold with this level of inflation; besides for temporary purchasing power when timing a trade.

Voxo2222

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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.

Topic: Usdt safe heaven (Read 349 times)