Topic: What happens if USDT falls down? - page 5. (Read 734 times)

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.

It surely can happen since there are supposed to be stable coin drop its price due to Luna crash incident happen before see this link https://www.coindesk.com/learn/the-fall-of-terra-a-timeline-of-the-meteoric-rise-and-crash-of-ust-and-luna/

The incident could happen to USDT to if there big anomaly or controversy will happen unto it. So if you are worried about same situation might happen then don't hold that to much like letting it sleep for years. Since we know crypto is prone from any hacks or government created issue so if worried about such thing don't hold any amount which you can't afford to lose.

The best thing is to divide the stablecoin portfolio into USDT, USDC, BUSD, and DAI.

Eg:  If your total stable pool is X, you can store the stable coins like this. This will reduce the risk of the stable portfolio.

USDT = X/4
USDC = X/4
BUSD = X/4
DAI   = X/4

Some days ago USDT price falls little with doller pig to 0.99 according to coinmarkecap and yes this true that USDT was fall in past and possible also in future as usdt has no backup this time despite of large volume. If this happen whenever then there is no way to do except passion and hold it until it goes back to original price. If I sell in down price then obviously it will give me only loss and i will not loss until i sell it.

Some months when usdc and Di was down then my friend sold at 0.9$ but after some days the price back to original price. by the way people love to hold btc instead of usdt and i am also holding very less usdt so no problem if this could happen ever

Why are you holding all your money in USDT? I mean, it's a stablecoin, that's an interesting choice to say the last. But I'm not judging.

Obviously you’re right to never put all your eggs in one basket but USDT is solid, I firmly believe that they are OK. There has been several audits & they continue to be trustworthy. Obviously you can never be 100% sure about anything but I think USDT is safe.

If USDT were to crash it would be catastrophic to the crypto space. Their team (company or whatever) would likely have to start mass selling off assets to try and keep the peg to the dollar alive. As long as they don’t do anything shady though and they have the assets they do, a run that broke the peg and allowed them to buy back USDT below $1 would be quite beneficial to them.

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If USDT crashes somewhere then I will lose all my money. Because I keep all my money in USDT. But now I thought I will invest the money in different places so that if any coin ever crashes then all the money will not be lost.USDT is reliable to me that's why I like to keep money in USDT. But if USDT ever crashes crypto market will suffer huge loss. It may take years to recover from this loss. Hope to see something like that No, we still need to take some precautions so that our money is safe in case of such an incident.

It won't happen because... JK
What will I do? None.

I saw UST (Terra Luna's Stablecoin) got de-pegged a few months ago because of a glitch that caused their token, and their stable coin to lost it's value. With what, it just shows that any stable coin might suffer the same thing as well, and no stable coin is safe even USDT. Tether might've dodge some problems, and solved it in the past, but I believe that there will be a time where there might be an event, or problem with it that might cause the stable coin to de-pegged to the US dollar.

Having said all of that, I will not do anything because I don't have any plans on touching any stable coins or holding it in mid to long term.

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I agree that all of the bad news against it has already been defunct and that they've got a reserve fund or proved that they've got really that amount backing up the supply.

What is more likely is the other stable coins that can depegged. That's still possible and many of them could go out to the market when the bull run arrives. Tron network has just launched that type of stable coin and that's why it's another ugly impression and project done on it by its developers.

The era of FUD on USDT for me is already done.
It's already 2023 and I will not see any FUD about the USDT depeg.

But let's just answer OP of the "what if"

My answer is the market will crash, extremely crash including Bitcoin and other altcoins.
After that, even other stablecoins for sure will get affected even USDT will only, it's because of fear that other stablecoins could be also depeg because the highest market cap stablecoin and the first stablecoin crashed.
After that, Bitcoin will recover just nothing happens as Bitcoin doesn't need stablecoin at all.

I've never really put all my coins into USDT in the first place so I don't think it'd affect me much. I just use it as a transition sometimes and as a method of transfer if needed. That's concerning USDT though. I fear that if it ever actually drops to such low levels, it isn't just USDT that will be affected, the entire market would probably crash down like a snowball, and my other altcoins (maybe even Bitcoin) would experience quite a drastic drop.

I'd definitely survive it though, my money on crypto isn't what I consider as savings in the first place. It's not that big of an amount as well, I can probably work my ass for a few months to get it all back, unless ofc the coins I invested go up.

Afaik, USDT still doesn’t suffer any horrific events before because the only time they suffer a noticeable depeg is during the time when USDC depeg significantly due to the banks storing their reserves encounter some issue. But USDT on the other hand doesn’t have any direct issue aside from the old criticism to them for not being transparent.

Their recent issue might be the first time for them to encounter a serious problem but crypto market will surely recover quickly since there’s a lot of stable coin available as alternative.

I will do nothing, although the option of such a fall is extremely low and unlikely. It's like speculating what we will do if bitcoin falls to 100 bucks. If USDT or bitcoin falls to such low values instantly, there is nothing you can do anyway and you will have to accept the current reality. The collapse of USDT will pull the entire crypto industry with it, as there are very large capitals in cryptocurrency, they are unlikely to allow this to happen, so that the main stablecoin of the crypto industry will lose 90% of its value.

Still can't forget with suddenly crashes from USTC stable coins with Terra Luna network until right now because my position staking that stable coins and loss almost 30%, for the future have been selective when staking or holding stable coins due many kinds network launch their stable coins. I think most trusted stable coins are USDT and BUSD with Binance exchange back up and not interested with holding other kinds of stable coins worry will follow what happen on UST.

Not recommended hold assets in USDT or other stable coins because not profitable yet than holding altcoin or bitcoin, I think with low profit earn as short or long term holding better put our assets in Bitcoin and hold few percent in Stable coins.

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Yooooooo, this makes me scared and opens a new way to think. I thought it will be stable. I think I should also move some USDT to other assets or investments. Thanks for making this kind of post here. It's truly helpful for newbies like us 

If USDT suddenly crashes like UST, it will have a huge effect on the market as USDT occupies a large part of the market. And many may suffer greatly.  USDT is trusted by many people and many hold huge money through usdt. If i say my personal thing i use usdt but don't hold all my money in usdt.  I hold about 2-5% of my total assets in crypto and  keep 25-30% of that in USDT from this budget  and rest is other coins.  So even if USDT crashes, I have no chance of major losses.

I disagree here. If USDT goes down to 0.20 or 0.10, then this means that there would be serious problems with that equation. If Tether goes bankrupt but investors really can expect to be paid out eventually, the peg would fail but most likely the dump would stop somewhere near 0.50 or even 0.70. People would prefer to wait 5 years and get full value, than to get less than 50% now.

Even as MtGox had terminally collapsed, the "MtGox coins" still were around 50% worth from the original value, as far as I remember -- because the investors knew that they could expect to get at least something back, and this happened finally.

Big altcoins, and of course Bitcoin -- like you already wrote -- should drop also in the case of an USDT catastrophic peg fail, but probably mid-term not more than 50%. A panic dump of 70% or so could happen, but would be recovering as a new leading stablecoin emerges.


It's likely that what you write won't be far from reality - I also expect a massive altcoin drop if USDT's peg fails catastrophically. But it would be somewhat paradoxical: Cryptocurrencies have been created to cut out all middlemen of finance. A centrally managed cryptocurrency would have collapsed, which means that there were some middlemen involved. Thus "middlemen" would have pulled down the "no-middlemen" finance concept ...

Due to this, I expect that Bitcoin would be strengthened mid/long term, but centrally managed cryptocurrencies and stablecoins would probably lose a lot of trust. I expect Bitcoin Dominance in this event to go again up to 70 or 80%.