What happens if USDT falls down? - page 4.

lalabotax

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Quote from: Princess_Devi on August 05, 2023, 12:06:15 PM

We know that USDT is coming back from the most horrific situations from the past. But I want you to answer this, what do you do if someday without any signs USDT falls back to 0.1-0.2$? What do you do? Can you survive in this situation? What do you do if you put all your assets in USDT?

Thankfully I don't save my assets in USDT.
However if there really was a situation like this, it was undeniable, it would definitely be difficult. If a stable coin that is trusted enough and is used by many people and various exchanges, and suddenly drops or has a rug pull, then there will be some problems. especially if the coin cannot be sold or converted again to other coins. This is going to be a big deal. Maybe this will be difficult to happen but that doesn't mean it's impossible. Because it could happen in the future due to something really bad.

That's why I personally don't think about keeping assets in USDT or stable coins, only using them sometimes for pairs in trading. However, we must always be vigilant and always update the market and news to quickly avoid unwanted things.

Bobrox

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Already have stable coins falls down like UST as Luna network coins, big impact drastically with current market condition drop and all cryptocurrency coins increasing down under 10%. For the future if happing again with USDT falls down sure big impact for cryptocurrency and potential for Bitcoin or altcoin will going drop drastically. Stable coins or USDT have bigger impact because many pair of trading still dominance by stable coins and all trader use this pair for trading, many of them saving assets or funds in stable coins and unpredictable how frustrated when USDT fells down.

Need to separated holding assets not only in stable coins or USDT but also use several kinds of altcoin for holding our money, unpredictable with stable coins fells down later and UST is great experienced for us how to be careful with stable coins.

FahriZah

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If USDT fall down than crypto currency market will going huge down because now 80-90 percent people’s doing trade with USDT and holding also usdt so we want usdt never fall Down.

www.Gambler.Casino

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If the USDT falls, then the crypto market will decrease many times over. Losses and disappointment will be so strong that Bitcoin could fall to $2000-5000 and many altcoins will disappear completely

Heulahee

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As you had already given the answer of your choice in the last sentence, the same in the case with me. I had also my portfolio of different stable coins, I had never trusted only a single coin in my whole life. Putting in different coins is much better than in one.

justdimin

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Quote from: benalexis12 on August 08, 2023, 09:12:19 AM

Quote from: Princess_Devi on August 05, 2023, 12:06:15 PM

We know that USDT is coming back from the most horrific situations from the past. But I want you to answer this, what do you do if someday without any signs USDT falls back to 0.1-0.2$? What do you do? Can you survive in this situation? What do you do if you put all your assets in USDT?

Just curious to know your answer. Don't say reasons that it won't happens, because I want to know if something this kind of thing happens in future what will you do?

If you ask my replay to this, I can say I will ok with it. Because I put my 20% into USDT right now. Why? because you know guys there is an Old saying Never put your all eggs in the same basket. Wink

There are other options to choose from, not just usdt, but also usdc and usd. Maybe it's just in cases like this that it seems more useful to use usdt, especially for a crypto enthusiast like me who can use usdt when I do transactions using p2p to our fiat here in my country. Although it's the same percentage that I can do for usdt as well. Also, if I put eggs in another basket, I will not collect stablecoins, I prefer potential altcoins.

I would guess that the point is not that if USDT falls down then we could start using other stuff because that's not the point and I understand that we are going to be able to use other stuff as well. Even today I use busd more than I use usdt right now and I can say that I trust and prefer BUSD a lot more and they are doing a great job and there is nothing wrong with that.

However, I would like to point out that we are not going to be ending up with anything that would be different considering the fact that bitcoin is the best one and usdt or busd do not have any candle to hold for it. However, the point of this is that if usdt goes down that means a lot of money gone and the price of all cryptocurrencies would go down too.

AakZaki

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Quote from: abel1337 on August 07, 2023, 09:58:52 AM

What do you mean by money making sites? You are obviously off topic and I don't know what is the thing that will go higher. Usdt?

If USDT falls into .1-.2 price range, I'm pretty sure that a market crash will follow as we had saw from the past. Remember LUNA crash along with it's stable coin UST, a huge market crash was the result of UST depegged. I strongly believe that it can happen if a major stable coin such as USDT happen to have the same fate as UST.

Depegged that happened to UST made us to be wary of all kinds of Stablecoins, we won't know what will happen in the future. Will stablecoins remain stable or even crash. it also depends on the Founder of the coin, whether he can be trusted or not. Nobody wants USDT to fall, but just in case, holding Fiat would be better or holding Bitcoin as a top Coin is anti-inflation and good for the long term. Despite the rapid price fluctuations, but it will be more profitable.

fzkto

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If there is a collapse with usdt like there was with terra usd, it will cause the whole cryptocurrency market to fall. If the collapse of luna and ust led to a serious fall, the collapse of usdt will probably have very serious consequences. But at the same time it will be a good opportunity to buy bitcoin cheap, for example as it was in March 2020.

crwth

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If it falls back to $0.1-0.2, I would probably buy more of it and maybe in the future it could go back to its former glory or the should be value that it has which is $1. If that really reached that point, I think it's the end but you could still try though.

Your strategy is good on following that common saying. That's just ideal.

Xal0lex

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Quote from: gurunanakji777 on August 08, 2023, 08:45:03 AM

Any stablecoin has the potential to detach its peg at any given moment there can be no assurance of a 100% guarantee for any stablecoin, whether it's USDT or BUSD. It's advisable to diversify and not concentrate all funds in a single stablecoin such as USDT. The potential consequences of USDT losing its peg could be significant for the cryptocurrency market, given the widespread use of USDT by millions of crypto users. While I've heard numerous rumors about USDT's history, to the best of my knowledge, it has never been significantly affected.

I agree that any stablecoin can lose its peg to the dollar. This has happened to all known coins. For me, the indicator of a stablecoin's reliability is not whether it has lost its peg to the dollar or not. Much more important is how the stablecoin behaved after the de-peg occurred. If the stablecoin is reliable, the exchange rate recovers very quickly, within 1 or 2 days. In this respect, USDT shows much more reliability and stability than other stablecoins.

benalexis12

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Quote from: Princess_Devi on August 05, 2023, 12:06:15 PM

We know that USDT is coming back from the most horrific situations from the past. But I want you to answer this, what do you do if someday without any signs USDT falls back to 0.1-0.2$? What do you do? Can you survive in this situation? What do you do if you put all your assets in USDT?

Just curious to know your answer. Don't say reasons that it won't happens, because I want to know if something this kind of thing happens in future what will you do?

If you ask my replay to this, I can say I will ok with it. Because I put my 20% into USDT right now. Why? because you know guys there is an Old saying Never put your all eggs in the same basket. Wink

There are other options to choose from, not just usdt, but also usdc and usd. Maybe it's just in cases like this that it seems more useful to use usdt, especially for a crypto enthusiast like me who can use usdt when I do transactions using p2p to our fiat here in my country. Although it's the same percentage that I can do for usdt as well. Also, if I put eggs in another basket, I will not collect stablecoins, I prefer potential altcoins.

gurunanakji777

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Any stablecoin has the potential to detach its peg at any given moment there can be no assurance of a 100% guarantee for any stablecoin, whether it's USDT or BUSD. It's advisable to diversify and not concentrate all funds in a single stablecoin such as USDT. The potential consequences of USDT losing its peg could be significant for the cryptocurrency market, given the widespread use of USDT by millions of crypto users. While I've heard numerous rumors about USDT's history, to the best of my knowledge, it has never been significantly affected.

justdimin

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worst case scenario, it will not only affect USDT, or the stable coin, but if USDT does fall, it will affect the crypto world. the reason is that USDT is the stable coin which has the most volume at the moment. this indicates that people's trust in this stable coin is very large and very large. when USDT falls, people will race to withdraw their assets from USDT before it crashes like UST.

This is true but we letting it be like that is the worst thing about it. I mean we are talking about a situation where we let the USDT consume all of crypto world all that much that if it ever crashed then the whole crypto world may crash with it a lot.

We could end up recovering afterwards, but it will take a long time to do that. They literally have our money in safe places but that "safe" place is still government controlled, the moment government decides to seize their money, that means government actually seizes our money and that means bitcoin will crash like hell, even if USDT did nothing wrong. This is why we shouldn't really end up trusting them enough to let them have the power to crash crypto world.

synchronym

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Quote from: Princess_Devi on August 05, 2023, 12:06:15 PM

We know that USDT is coming back from the most horrific situations from the past. But I want you to answer this, what do you do if someday without any signs USDT falls back to 0.1-0.2$? What do you do? Can you survive in this situation? What do you do if you put all your assets in USDT?

Just curious to know your answer. Don't say reasons that it won't happens, because I want to know if something this kind of thing happens in future what will you do?

If you ask my replay to this, I can say I will ok with it. Because I put my 20% into USDT right now. Why? because you know guys there is an Old saying Never put your all eggs in the same basket. Wink

op definitely gave an instructive post chara newbies definitely don't know about this they might think there is no harm in keeping their money in USDT. So maybe many people will want to keep their money in USDT for a long time. If a new user reads the op post, their opinion will definitely change. My personal opinion is that I would never want to hold all my wealth in USDT for a long time, withdrawing USDT money and investing in something else and keeping some money in USDT. These are things that we cannot control so it would be wise for us to keep USDT for a while and invest the money elsewhere.

Xal0lex

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Quote from: danherbias07 on August 07, 2023, 10:17:00 AM

Let's say it will happen.
It's actually a difficult question when you are in the moment. Using other altcoins that fell down could be a good example.
Anyway, if it does happen, I won't sell. Why? How much money is gone if you sell? I'd rather patiently wait for it to recover because I think that it could happen considering the rule of 1:1.
There must be a plan from the owners of it to bring it back to where it should be. Selling will be suicide, I'd take the risk all the way and just help out at putting the value up by marketing it.

Imagine a situation where you own an altcoin that has started its decline and its further position on the market will only get worse until it finally disappears due to delisting from all platforms. Selling such coins will not look so suicidal. When you say that you should wait, take into account the fact that 99% do not return to their former price levels. Never.

Dr.Bitcoin_Strange

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Since I am in business, I usually don't have money sitting on my hands for a very long time, and I also accept Bitcoin for payment at my shop, so I do keep a lot of money safe on Bitcoin and also have a small investment I am making else where. Let me just say that every month I usually have budgeted money, which I spend on personal needs until the next month when I make another budget. I know that for those who usually keep all their money in fiat, they will be affected if faced with this situation, because at that moment the value of their finances will reduce, and if they have really had any plan for what to do with the money, it definitely will not be able to solve all the problems they wish to solve with it. It's wise not to keep all money in fiat in case of devaluation, so the person will not be greatly affected. Rather than keeping money in the banks, it will do one more good to acquire some assets that can appreciate in value instead of depreciating.

Wiwo

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No wise investor will put all assets in one portfolio no matter how stable they are, there is no doubt the fact that many cryptocurrencies inventor leave their asset in USDT which seems to be the most stable coin and popularly traded, this has made USDT the most chosen for balance holding but more also this is a good wake up call to many who chose to hold all or higher percentages of their balance in USDT.

But still, be it that expect nothing and only hold an amount of currency you can afford to lose at some point.

danherbias07

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Let's say it will happen.
It's actually a difficult question when you are in the moment. Using other altcoins that fell down could be a good example.
Anyway, if it does happen, I won't sell. Why? How much money is gone if you sell? I'd rather patiently wait for it to recover because I think that it could happen considering the rule of 1:1.
There must be a plan from the owners of it to bring it back to where it should be. Selling will be suicide, I'd take the risk all the way and just help out at putting the value up by marketing it.

abel1337

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Quote from: Doovla3 on August 07, 2023, 09:08:28 AM

I see many money-making sites that are using USDT as main coin for that. In that reason it will be very stable for many months ,it will go higher than today.

What do you mean by money making sites? You are obviously off topic and I don't know what is the thing that will go higher. Usdt?

If USDT falls into .1-.2 price range, I'm pretty sure that a market crash will follow as we had saw from the past. Remember LUNA crash along with it's stable coin UST, a huge market crash was the result of UST depegged. I strongly believe that it can happen if a major stable coin such as USDT happen to have the same fate as UST.

Doovla3

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Comparing to others altcoins ,yes, it does not have long high rising value but it has gained consistancy. That is big plus for USDT. No falling down.

Topic: What happens if USDT falls down? - page 4. (Read 734 times)