What will happen to Tether? - page 3.

capoeira

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Quote from: bahagia93 on July 26, 2021, 11:51:14 AM

Quote from: Rakeshten on July 26, 2021, 10:40:03 AM

I don't think that the price of USDT will decrease or increase, because many people are using it as a stable coin and use it for buying any coin in the dip. If the USDT becomes unstable then many people can get a big loss.

USDT is a coin whose value is the same as dollars in real life, so that value will always follow the base value of the dollar and it will not be possible to go down like other coins, that's why USDT is said to be a stable coin and is often used by many people to save their assets before making another coin purchase.

what makes it stable though?
in theory it is the possibility to exchange it to real (backed up) USD.
in reality afaik this is not possible.

Renampun

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Quote from: bahagia93 on July 26, 2021, 11:51:14 AM

Quote from: Rakeshten on July 26, 2021, 10:40:03 AM

I don't think that the price of USDT will decrease or increase, because many people are using it as a stable coin and use it for buying any coin in the dip. If the USDT becomes unstable then many people can get a big loss.

USDT is a coin whose value is the same as dollars in real life, so that value will always follow the base value of the dollar and it will not be possible to go down like other coins, that's why USDT is said to be a stable coin and is often used by many people to save their assets before making another coin purchase.

USDT Tether is a stable cryptocurrency that has well performed to date...

I'm still wondering..if USDT is a stable coin that uses $ circulation in real life, what will happen to Tether when the US officially wants to issue their own USD cryptocurrency, will other stable crypto coins be sue.

bahagia93

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Quote from: Rakeshten on July 26, 2021, 10:40:03 AM

I don't think that the price of USDT will decrease or increase, because many people are using it as a stable coin and use it for buying any coin in the dip. If the USDT becomes unstable then many people can get a big loss.

USDT is a coin whose value is the same as dollars in real life, so that value will always follow the base value of the dollar and it will not be possible to go down like other coins, that's why USDT is said to be a stable coin and is often used by many people to save their assets before making another coin purchase.

feelideb

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Quote from: Daltonik on July 26, 2021, 10:09:43 AM

The US Department of Justice has initiated a check on the fact of possible bank fraud of the leaders of the company Tether, which is behind the largest USDT stablecoin. According to the publication, the authorities are interested in the early stages of the company's activities. In particular, federal prosecutors are investigating whether Tether hid cryptocurrency-related transactions from banks. https://www.bloomberg.com/news/articles/2021-07-26/tether-executives-said-to-face-criminal-probe-into-bank-fraud?srnd=premium-europe

There have been numerous controversies surrounding tether stable coin. As we can see, these thread is an old tread and these controversies were there as far back as 2016. Personally, I am impressed with what tether have done for cryptocurrency so far, it has help to hold values and take opportunities that would have been otherwise imposdible! As for the investigation open against tether, it is left for investigators to do their work. Only a court of apropriate jurisdiction can declare a virdict of any wrong doing if there is any!

dificanovi

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As we can see today that the price of tether is very stable and not much lower than the real dollar price.
Tether will not go bankrupt or disappear forever because the price of Tether is always stable following the dollar price, in my opinion Tether is a coin that is always there like real dollars that will not go extinct.

cricketkhampion

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Iit is not possible that usdt price will decrease or increase. I think its price is constant but, If usdt will decrease many people will be got a big loss so I think it is not possible

Cryptoangel01

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First of all that won't matter in the next 10yrs hahaha Grin

fact is Bitfinex and Tether have the most liquid market in the crypto industry. The latest FUD in the crypto scene about Tether is baseless and only meant for witchhunt IMO, this year, Tether got cleared, how about that Huh

. For me, Tether has been my most used currency both as a store for a stablecoin and my most used coin for Earnbet casino. It will remain this profitable for a long time IMO

Rakeshten

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I don't think that the price of USDT will decrease or increase, because many people are using it as a stable coin and use it for buying any coin in the dip. If the USDT becomes unstable then many people can get a big loss.

Daltonik

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The US Department of Justice has initiated a check on the fact of possible bank fraud of the leaders of the company Tether, which is behind the largest USDT stablecoin. According to the publication, the authorities are interested in the early stages of the company's activities. In particular, federal prosecutors are investigating whether Tether hid cryptocurrency-related transactions from banks. https://www.bloomberg.com/news/articles/2021-07-26/tether-executives-said-to-face-criminal-probe-into-bank-fraud?srnd=premium-europe

Dluretic

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But Tether still doesn't have a public bank account, which worries me.
Because Tether companies can now issue more tokens, we don't know if their bank accounts have so much money.

steve_rogers

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And what do you think now about tether? After all this manipulations with fiat money on different exchanges.
What is the best crypto-fiat pair?
For examples today, tether has just printed out another 300 millions of USDT. I don't believe that they can provide it with real fiat money.

leea-1334

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Quote from: BossBee on September 25, 2017, 12:06:16 AM

How do you all on this thread feel about tether a year later? Bitfinex is the largest exchange and I don't see why they would want to forfeit that position when they've seen the repercussions.

Does not and should not change a thing about how we should all treat exchanges. No matter how big they get. No matter how great and trustworthy they seem to be,,, never trust any of them with your funds. We all know they will do their best to hold their promises and backings for Tether. We also know this is only true until their business sense stops.

BossBee

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How do you all on this thread feel about tether a year later? Bitfinex is the largest exchange and I don't see why they would want to forfeit that position when they've seen the repercussions.

Igor M

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Quote from: bbc.reporter on August 13, 2016, 09:07:11 PM

Quote from: Thenoticer on August 13, 2016, 08:58:08 AM

Quote from: udecker on August 10, 2016, 07:17:01 PM

Tether and Bitfinex are separate corporations and enterprises.

Tether and the tether reserve are not affected by the recent security breach at Bitfinex.

Craig

It is hard to trust what they are saying after the hack. I do not think the Bitfinex CEO is qualified to run an exchange. I will say again if Bitfinex will go under, what will happen to tether when the people responsible are hiding and cannot be seen? Tether is not trustless therefore it is dangerous.

True. Better to stay away from this situation.

Abiky

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Quote from: bbc.reporter on August 14, 2016, 10:39:07 PM

@Abiky, I am curious. What happened with the peg of Nubits? Did it not hold?

Turns out to be an issue (or a discourse) between the Nushares holders that decided to sell and caused the price to lost its peg. Now, USNBT worth $0.67 USD. You can look more about in here: https://steemit.com/crypto-news/@steempower/nubits-not-a-price-stable-currencies-and-bc-exchanges-nbt-based-development-fund

Hope this helps.

By the way, I have found a better idea to keep a close peg to the USD and that is by exchanging my BTC to bitEUR. As nowdays, the EUR is worth more than USD this would be a safe haven. (even though it decreases in price a little since it will still be around the $1 USD mark) Roll Eyes

bbc.reporter

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@Abiky, I am curious. What happened with the peg of Nubits? Did it not hold?

Abiky

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Quote from: bbc.reporter on August 13, 2016, 09:07:11 PM

It is hard to trust what they are saying after the hack. I do not think the Bitfinex CEO is qualified to run an exchange. I will say again if Bitfinex will go under, what will happen to tether when the people responsible are hiding and cannot be seen? Tether is not trustless therefore it is dangerous.

Exactly. That is why it is best to proceed with caution when investing into a pegged asset. It seems too risky and at any moment, Tether could head the same direction as Nubits in price. This last one will probably take quite some time to recover (if it ever will) to its promised pegged value to 1 USNBT = $1

That is why, I have looked into other options to hedge my BTC to fiat such as Coinapult's LOCKS feature. This seems very promising, but just in case I will proceed with caution.

BitcoinNational

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bbc.reporter

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Quote from: Thenoticer on August 13, 2016, 08:58:08 AM

Quote from: udecker on August 10, 2016, 07:17:01 PM

Tether and Bitfinex are separate corporations and enterprises.

Tether and the tether reserve are not affected by the recent security breach at Bitfinex.

Craig

It is hard to trust what they are saying after the hack. I do not think the Bitfinex CEO is qualified to run an exchange. I will say again if Bitfinex will go under, what will happen to tether when the people responsible are hiding and cannot be seen? Tether is not trustless therefore it is dangerous.

capoeira

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Quote from: Abiky on August 13, 2016, 02:51:19 PM

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

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

Exactly. That would limit our options to hedge our Bitcoins against the dollar. So, until now there is no way to protect against crypto volatility (as far as I know) thus, it would be advised to proceed with caution. Thank goodness that Tether, is back to $0.99 (near the $1 mark) but still this is something that could change anytime. I just hope that a stable crypto will have solve these issues, probably backed by the government. Just my opinion. Roll Eyes

price is like 0.9999, which is justified since it is not the "real dollar"; before I can "buy someting with it" there is work involved.

Topic: What will happen to Tether? - page 3. (Read 2704 times)