Bitcoin Forum

After the new USD replacement for Tether is up and running the SEC will most probably pursue Tether for its past activities. I would not want to be a director of the Tether circus when HELL is unleashed on this dubious coin!
They are living the high life but it’s coming to an end! They can run but can they hide?

I think that we all already knew that the future of tether was numbered and that the coin was not as good as it was cracked up to be and there is no way that there is enough dollar reserves for ever USD tether that is made. It will end up dying soon but I just hope that the people who have converted their coins to tether get out before it does before they end up losing their money to tether

I agree: people need to get out of this coin

It has been long news that Tether will be replaced with USD.
therefore I have not saved the Tether in my bittrex account.

So this is a goodbye for Tether now?

Tether was messed up from the beginning.

Basically, it is the USD tokenized, of course it would be considered a security.
The company from its inception to fundraising to now  have blatantly disregarded any types of regulations or existing laws.
It will end badly for them.

For investors, I feel sorry for anyone that believed in it.
Actually, I don't.
The red flags were so obvious that if you didn't see them, then you are not a proper investor at all and if you did, but ignored them, then it's your fault.

Remebmer about three months ago when the circulating supply of tether jumped up by hundreds of millions?
Wow!
Making money out of thin air!
No way I'm going to believe that those coins were equally backed by usd reserves.

Now, we have to wonder how it's crash will affect the overall market.

I guess you mean TrueUSD as the replacement for Tether, but with a marketcap of only 18 million USD, TrueUSD is nowhere near gaining any serious traction,

Tether still remains to be the most popular fiat peg at the moment, although obviously not able to provide a robust guarantee for the fiat value it represents...

I'm kind of on the fence about whether or not this is a good thing. If SEC meddles with Tether i'm pretty sure the news will spread and inadvertently affect Bitcoin and other cryptocurrencies as well. The problem is because ignorant people tend to read news and make assumptions without actual knowledge on the subject matter.

If anything, media should be responsible in reporting this and making a clear delineation between tether and crypto.

No, i heard there is a company in US will try to create stable crypto currency just like tether. it seems to be a better option compared with tether. TrueUSD is not the replacement for tether. I heard JP morgan interested to create its own stable currency just like tether and it may become a real competitor for tether.

Yes that's true the company in US are wants to create a stable crypto currency and this is what I think it will become a competitor for tether. And I don't think it the end of road for tether, I believe it will continue.