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Title: USDT - What do you predict will be the outcome? Post by: little Phil on July 02, 2018, 02:35:39 AM Hi Everyone,
Just curious what your speculation would be on the future of USDT. I know there has been some controversy as to whether they actually have the 2.7 billion odd dollars they claim are pegged to each USDT. I know it may be a long shot but do you think with banks moving into the cryptospace, that there will eventually be a system similar to how banks do fractional lending so in effect they would only need 10% of USDT value in actual USD? Title: Re: USDT - What do you predict will be the outcome? Post by: makishart on July 02, 2018, 02:54:58 AM Hi Everyone, It looks like there is an announcement about that and it seems like every tether has backed by each USD. This has stated by the lawyer of tether. I thought that the banks are only interested to move into the blockchain system because they can reduce a lot of operational cost.Just curious what your speculation would be on the future of USDT. I know there has been some controversy as to whether they actually have the 2.7 billion odd dollars they claim are pegged to each USDT. I know it may be a long shot but do you think with banks moving into the cryptospace, that there will eventually be a system similar to how banks do fractional lending so in effect they would only need 10% of USDT value in actual USD? Title: Re: USDT - What do you predict will be the outcome? Post by: pranazzs on July 02, 2018, 03:50:09 AM What about the following USDT news https://www.newsbtc.com/2018/07/01/security-firm-identifies-potential-tether-usdt-double-spend-bug/ whether people will leave or will still choose USDT? It looks like USDT should be more upgraded about its security. Title: Re: USDT - What do you predict will be the outcome? Post by: little Phil on July 02, 2018, 04:19:50 AM It looks like there is an announcement about that and it seems like every tether has backed by each USD. This has stated by the lawyer of tether. I thought that the banks are only interested to move into the blockchain system because they can reduce a lot of operational cost. I think initially they would move in to try maintain dominance over financial service markets, which to me makes me think it would include finding a way to do fractional lending since their current business model allows them to 10x their money, eg I deposit $10 into savings and as a result they can lend out $10 to 10 different people. They make (for example) x% off each person's borrowed $10 and pay me a lower % on my $10 deposit, they basically have a licence to print money proportionate to their total deposit values. |