What will happen to Tether? | Bitcointalksearch.org

Abiky

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Quote from: TimeTeller on September 16, 2021, 06:06:04 PM

I have hesitations with tether when they admitted last 2019 that they were not fully backed with USD assets.
It is good that up until now, after 5 years the OP posted this thread, tether is still standing up.
But I won't suggest to hold this for long term because one mistake from the Tether team or major hacking and we may see this crumbling.
Just keep your funds safe and as much as possible diversify your portfolio. We can't trust them to fully respect their promises.

The risks are simply to high to ignore. Tether may have been standing for a long time, but that doesn't mean it's "invincible". As I've said before, a government crackdown or a massive hack could put an end to Tether for good. People are foolish enough to trust their hard-earned money on a centralized stablecoin subject to manipulation, corruption, and fraud. Trusting Tether is no different than trusting banks (but even worse). Crypto behaves in many strange and bizarre ways, so no one can exactly tell what will happen with Tether in the future. What's important is to diversify your investment into other crypto assets in order to protect yourself from the risk of loss. As long as you do that, you'll have nothing to worry about. Just my thoughts Grin

mksundip

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i'm not sure if bitfinex goes bankrupt tether will go bankrupt, the concept of tether is to be a stable coin. maybe tether will lower the price but still carry the concept of a stable coin in crypto forever. besides that the tether market is also big, it won't be easy for tether to experience a fall in a short time

mindrust

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Quote from: Abiky on September 16, 2021, 11:20:43 AM

Quote from: mindrust on September 10, 2021, 03:02:29 AM

Tether is fiiiine. Stop the Fudding.

They audited themselves and declared that they have the backing for every dollar in their $68b portfolio. Why make it a big deal now? Haven't you learned anything yet? Tether is as solid as a rock. It will not go down.

Grin

I wouldn't get my hopes high yet. After all, Tether is a centralized stablecoin subject to manipulation, fraud, and corruption. It's like "Banking 2.0" if you ask me. There will always be the risk of loss, due to the way Tether was designed. What's stopping the issuer from running away with the money or closing up shop? Or what's stopping the government from taking down Tether in its entirety? For what I know, nothing lasts forever. You're better off cashing out your crypto to Fiat than exchanging it to a centralized stablecoin like Tether. The risks are simply too high to bear. Expect many USDT holders to go "rekt" if something bad happens in the future. With or without Tether, crypto will be here to stay thanks to its decentralized and censorship-resistant nature. Just my thoughts Grin

That's nocoiners talk. I think you watched too much anti-crypto conspiracy videos on youtube. People have been saying the same shit for years and yet tether is still going strong and kicking nocoiner ass.

Think about it, if what you said was true, if tether was running as ponzi scheme that is as big as Madoff's, don't you think the SEC would intervene and jail the bad guys if there was something shady?

Daltonik

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The Federal District Court for the Southern District of New York, represented by Judge Catherine Polk File, rejected half of the claims against Tether and Bitfinex in a class action, including all claims under the RICO Law. A class action lawsuit was filed by a group of investors in October 2019, where Tether, Bitfinex and a number of top managers of companies were accused of violating the US Commodity Exchange Act, the RICO Act, money laundering, Pump & Dump schemes, market manipulation due to the issue of USDT and deliberate deception of investors, the claims then were in the amount of $1.4 trillion. https://tether.to/ny-court-dismisses-half-of-class-action-plaintiffs-claims-against-tether/

Quote from: https://twitter.com/Tether_to/status/1443229915382435849

monineklutak

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Quote from: andriarto on September 16, 2021, 10:12:53 PM

Quote from: TimeTeller on September 16, 2021, 06:06:04 PM

Quote from: Abiky on September 16, 2021, 11:20:43 AM

Quote from: mindrust on September 10, 2021, 03:02:29 AM

Tether is fiiiine. Stop the Fudding.

They audited themselves and declared that they have the backing for every dollar in their $68b portfolio. Why make it a big deal now? Haven't you learned anything yet? Tether is as solid as a rock. It will not go down.
Grin

I wouldn't get my hopes high yet. After all, Tether is a centralized stablecoin subject to manipulation, fraud, and corruption. It's like "Banking 2.0" if you ask me. There will always be the risk of loss, due to the way Tether was designed. What's stopping the issuer from running away with the money or closing up shop? Or what's stopping the government from taking down Tether in its entirety? For what I know, nothing lasts forever. You're better off cashing out your crypto to Fiat than exchanging it to a centralized stablecoin like Tether. The risks are simply too high to bear. Expect many USDT holders to go "rekt" if something bad happens in the future. With or without Tether, crypto will be here to stay thanks to its decentralized and censorship-resistant nature. Just my thoughts Grin

I have hesitations with tether when they admitted last 2019 that they were not fully backed with USD assets.
It is good that up until now, after 5 years the OP posted this thread, tether is still standing up.
But I won't suggest to hold this for long term because one mistake from the Tether team or major hacking and we may see this crumbling.
Just keep your funds safe and as much as possible diversify your portfolio. We can't trust them to fully respect their promises.

there are cases that make bitcoiners doubt about tether. but until now tether still has high confidence, has a large market capitalization and is still at the top of coinmarketcap. therefore if you see the tether function only as a temporary shelter, especially for a trader, then we can do many ways to secure our funds, especially now that there are several stable coins that can be used

That's right and it doesn't look like the case at hand has made Tether lose faith,
I think until now Tether is still a good coin stable so I have no doubts,
but apart from that everyone has a different view of Tether

andriarto

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Quote from: TimeTeller on September 16, 2021, 06:06:04 PM

Quote from: Abiky on September 16, 2021, 11:20:43 AM

Quote from: mindrust on September 10, 2021, 03:02:29 AM

Tether is fiiiine. Stop the Fudding.

They audited themselves and declared that they have the backing for every dollar in their $68b portfolio. Why make it a big deal now? Haven't you learned anything yet? Tether is as solid as a rock. It will not go down.
Grin

I wouldn't get my hopes high yet. After all, Tether is a centralized stablecoin subject to manipulation, fraud, and corruption. It's like "Banking 2.0" if you ask me. There will always be the risk of loss, due to the way Tether was designed. What's stopping the issuer from running away with the money or closing up shop? Or what's stopping the government from taking down Tether in its entirety? For what I know, nothing lasts forever. You're better off cashing out your crypto to Fiat than exchanging it to a centralized stablecoin like Tether. The risks are simply too high to bear. Expect many USDT holders to go "rekt" if something bad happens in the future. With or without Tether, crypto will be here to stay thanks to its decentralized and censorship-resistant nature. Just my thoughts Grin

I have hesitations with tether when they admitted last 2019 that they were not fully backed with USD assets.
It is good that up until now, after 5 years the OP posted this thread, tether is still standing up.
But I won't suggest to hold this for long term because one mistake from the Tether team or major hacking and we may see this crumbling.
Just keep your funds safe and as much as possible diversify your portfolio. We can't trust them to fully respect their promises.

there are cases that make bitcoiners doubt about tether. but until now tether still has high confidence, has a large market capitalization and is still at the top of coinmarketcap. therefore if you see the tether function only as a temporary shelter, especially for a trader, then we can do many ways to secure our funds, especially now that there are several stable coins that can be used

Woodie

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I thought when it comes to such matters the entity has to distinguish itself from the product, especially that they operate in an ecosystem which is mainly decentralized. By the way coming back to the topic they are two different entities altogether and besides tether might have some centralized structure built around it but decentralization has to kind of lead here...it can run on auto pilot.

Now am also starting to think of Bnb and Binance since they are in the same bought would the bnb coin go down if Binance was to go down....I guess

TimeTeller

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Quote from: Abiky on September 16, 2021, 11:20:43 AM

Quote from: mindrust on September 10, 2021, 03:02:29 AM

Tether is fiiiine. Stop the Fudding.

They audited themselves and declared that they have the backing for every dollar in their $68b portfolio. Why make it a big deal now? Haven't you learned anything yet? Tether is as solid as a rock. It will not go down.
Grin

I wouldn't get my hopes high yet. After all, Tether is a centralized stablecoin subject to manipulation, fraud, and corruption. It's like "Banking 2.0" if you ask me. There will always be the risk of loss, due to the way Tether was designed. What's stopping the issuer from running away with the money or closing up shop? Or what's stopping the government from taking down Tether in its entirety? For what I know, nothing lasts forever. You're better off cashing out your crypto to Fiat than exchanging it to a centralized stablecoin like Tether. The risks are simply too high to bear. Expect many USDT holders to go "rekt" if something bad happens in the future. With or without Tether, crypto will be here to stay thanks to its decentralized and censorship-resistant nature. Just my thoughts Grin

I have hesitations with tether when they admitted last 2019 that they were not fully backed with USD assets.
It is good that up until now, after 5 years the OP posted this thread, tether is still standing up.
But I won't suggest to hold this for long term because one mistake from the Tether team or major hacking and we may see this crumbling.
Just keep your funds safe and as much as possible diversify your portfolio. We can't trust them to fully respect their promises.

Abiky

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Quote from: mindrust on September 10, 2021, 03:02:29 AM

Tether is fiiiine. Stop the Fudding.

They audited themselves and declared that they have the backing for every dollar in their $68b portfolio. Why make it a big deal now? Haven't you learned anything yet? Tether is as solid as a rock. It will not go down.

Grin

I wouldn't get my hopes high yet. After all, Tether is a centralized stablecoin subject to manipulation, fraud, and corruption. It's like "Banking 2.0" if you ask me. There will always be the risk of loss, due to the way Tether was designed. What's stopping the issuer from running away with the money or closing up shop? Or what's stopping the government from taking down Tether in its entirety? For what I know, nothing lasts forever. You're better off cashing out your crypto to Fiat than exchanging it to a centralized stablecoin like Tether. The risks are simply too high to bear. Expect many USDT holders to go "rekt" if something bad happens in the future. With or without Tether, crypto will be here to stay thanks to its decentralized and censorship-resistant nature. Just my thoughts Grin

arditiyan

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Quote from: bbc.reporter on August 02, 2016, 10:56:15 PM

To my understanding Tether is the cryptocurrency created and backed by Bitfinex. If they become bankrupt and stop operating as an exchange what will happen to all the tethers in circulation? Will it all lose value also? Will Bitfinex have the responsibility to exchange them for real us dollars?

I don't think bitfinex loses the USDT tether it won't follow the crash. USDT slowly experienced a decline in price and market cap. but USDT is always compared to fiat. it's just how the USDT team is responsible for doing the best for the future of USDT if Bitfinex leaves it

nicolas1979

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Quote from: mindrust on September 10, 2021, 03:02:29 AM

Tether is fiiiine. Stop the Fudding.

They audited themselves and declared that they have the backing for every dollar in their $68b portfolio. Why make it a big deal now? Haven't you learned anything yet? Tether is as solid as a rock. It will not go down.

Grin

People are worried about the current growing supply of Tether. So that someone's suspicion on the USD reserves owned by the owner of Tether. I think the suspicion is something reasonable. Because these digital assets are also under the supervision of certain institutions. If troubled then those holding Tether also suffered losses. Or there is another mission behind this liberation. Grin

mindrust

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Tether is fiiiine. Stop the Fudding.

They audited themselves and declared that they have the backing for every dollar in their $68b portfolio. Why make it a big deal now? Haven't you learned anything yet? Tether is as solid as a rock. It will not go down.

Grin

suryogandul

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Quote from: raphma on August 12, 2016, 09:43:48 AM

Quote from: capoeira on August 12, 2016, 06:09:57 AM

Quote from: bbc.reporter on August 02, 2016, 10:56:15 PM

To my understanding Tether is the cryptocurrency created and backed by Bitfinex. If they become bankrupt and stop operating as an exchange what will happen to all the tethers in circulation?

Why would Tether become bankrupt if BitFinex goes bankrupt? They are just shareholders

not exactly bankrupt but price crash.
whats the point of a pegged crypto if it cant keep 1:1 with fiat?

the potential for tether to fall can happen, it all depends on the crypto market. besides that, the internal team from tether is also an influence. I think the most important thing is that tether must be consistent 1:1 with fiat because that's the purpose of tether and don't change positions or change prices.

nicolas1979

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Quote from: Abiky on August 20, 2021, 05:25:31 PM

Quote from: nicolas1979 on August 18, 2021, 03:17:19 PM

What percentage of the potential for Tether to go bankrupt, and what percentage that Tether will be adopted on a large scale. I think the dependence of altcoins on Tether is currently very high, so the potential for bankruptcy is very small. Even if it goes bankrupt, most of the altcoins will go bankrupt. When did Tether go bankrupt, and what was USD for? Tether will lose value if inflation occurs in America, so the USD loses value, and Tether will also lose value. It is impossible for Tether to maintain such a high selling value if the USD drops.

I don't think inflation will negatively impact Tether's place on the market. Bitfinex manipulates the stablecoin at its own will, so there's that. Besides, the vast majority of cryptocurrencies rely on Tether these days. For it to go down, something big must happen. I think a full government crackdown will be the only thing that will bring Tether (USDT) to the ground. No matter what happens with the stablecoin, the crypto market will survive thanks to the decentralized nature of Blockchain tech. There are plenty of other stablecoins being actively traded across exchanges these days, so if Tether goes down, another one will replace it. What's important is decentralization and censorship-resistance. As long as crypto meets with such criteria, nothing else matters. Just my thoughts Grin

But I think Tether will be fine as long as they are able to cover up the wishes of the SEC. Because most crypto is currently under SEC surveillance. While Bitfinex alleged manipulation of stable coins has become an open secret, until now Bitfinex has not explained the allegations. These are just my thoughts. Because after XRP, and now Uniswap is an SEC target. Why is Tether still safe.

gwdf1

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I am not sure if it is written in the rules of Bitfinex that they can’t use Tether’s collateral for repayment of debts. Anyway, in case this company becomes bankrupt, Tether is also likely to collapse as bad news always has a big impact on everything in the crypto market. People can stop trusting Tether, they will sell it off and the price will drop. On the other hand, I believe that Bitfinex has declared collateral that it can't spend anywhere, so we can be calm.

Baimovic

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If this happens to Bitfinex while we know that Bitfinex is a big exchange platform, of course the impact if they go bankrupt is huge on Crypto prices because there will be fundamentals there and for Tether it looks like it will also experience that impact, will Bitfinex be that easy to go bankrupt ? I find it very difficult to imagine if Bitfinex should go bankrupt.

Abiky

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Quote from: nicolas1979 on August 18, 2021, 03:17:19 PM

What percentage of the potential for Tether to go bankrupt, and what percentage that Tether will be adopted on a large scale. I think the dependence of altcoins on Tether is currently very high, so the potential for bankruptcy is very small. Even if it goes bankrupt, most of the altcoins will go bankrupt. When did Tether go bankrupt, and what was USD for? Tether will lose value if inflation occurs in America, so the USD loses value, and Tether will also lose value. It is impossible for Tether to maintain such a high selling value if the USD drops.

I don't think inflation will negatively impact Tether's place on the market. Bitfinex manipulates the stablecoin at its own will, so there's that. Besides, the vast majority of cryptocurrencies rely on Tether these days. For it to go down, something big must happen. I think a full government crackdown will be the only thing that will bring Tether (USDT) to the ground. No matter what happens with the stablecoin, the crypto market will survive thanks to the decentralized nature of Blockchain tech. There are plenty of other stablecoins being actively traded across exchanges these days, so if Tether goes down, another one will replace it. What's important is decentralization and censorship-resistance. As long as crypto meets with such criteria, nothing else matters. Just my thoughts Grin

nicolas1979

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Quote from: bbc.reporter on August 02, 2016, 10:56:15 PM

To my understanding Tether is the cryptocurrency created and backed by Bitfinex. If they become bankrupt and stop operating as an exchange what will happen to all the tethers in circulation? Will it all lose value also? Will Bitfinex have the responsibility to exchange them for real us dollars?

What percentage of the potential for Tether to go bankrupt, and what percentage that Tether will be adopted on a large scale. I think the dependence of altcoins on Tether is currently very high, so the potential for bankruptcy is very small. Even if it goes bankrupt, most of the altcoins will go bankrupt. When did Tether go bankrupt, and what was USD for? Tether will lose value if inflation occurs in America, so the USD loses value, and Tether will also lose value. It is impossible for Tether to maintain such a high selling value if the USD drops.

Noruka

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Quote from: Fivestar4everMVP on August 08, 2021, 04:01:28 PM

Many people including myself have had this concerns for some time now, and me personally have limited my use of tether as many articles I read online on how it's likely to fail and also coupled with the rumored issue it has with the US government, I don't trust this crypto currency anymore but we just can't still ignore the fact that it's still one of the most popular and most used stable coins in crypto currencies so far.
The conclusion of the matter is that, if you don't feel secure in its usage, then better to avoid it and look for some other trusted stable coins to make use of, money is hard to come by this days and shouldn't be risked on untrusted crypto coins.

Absoutely, and considering it from the angle of its practicality, it plays a very vital role for cryptocurrencies and exchanges. I thought when 'I first read that one of the big Bitcoin pumps could have been facilitated with non-backed Tether that that hypothesis or allegation, whatever you wanna call it, does make a lot of sense. Imagine you are sitting on tons of Bitcoin and you have this printing button at your disposal because you are the company behind Tether, how tempting must it be to just push the button, use those freshly printed Tether and pump Bitcoin straight to the moon, sell your Bitcoin at crazy prices and then buy back the Tether with your profits such that nobody gets angry and asks for further investigation. Seems to be a decent plan to me.

Fivestar4everMVP

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Many people including myself have had this concerns for some time now, and me personally have limited my use of tether as many articles I read online on how it's likely to fail and also coupled with the rumored issue it has with the US government, I don't trust this crypto currency anymore but we just can't still ignore the fact that it's still one of the most popular and most used stable coins in crypto currencies so far.
The conclusion of the matter is that, if you don't feel secure in its usage, then better to avoid it and look for some other trusted stable coins to make use of, money is hard to come by this days and shouldn't be risked on untrusted crypto coins.

Topic: What will happen to Tether? (Read 2703 times)