Bitcoin Forum

Is Tether (USDT) trustworthy?

Every cryptocurrency - is a potential risk and volatility, even old good bitcoin))) I think there is no real USD behind the USDT and other cryptoUSD.
If you want to get profit you must understand that it is has a lot of risk.

Well this is a good cryptocurrency especially if you do not one to lose your money from trading. However, the crypto has low volatility and meaning to say that in order for you to earn then you need huge investments. Still the crypto is relatively good to those who are only using cryptocurrency as their asset instead of a currency.

Hello,

It is hard to say as even if they performed audits it seems unrealistic to have all the funds available. It is a good way to sécurisé your funds with less volatility but I would not stay in usdt for long term due to the high risk of bankrupt

Tether is not trustworthy and it will eventually collapse and disappear but its collapse is not going to take the market down with it. the worst case scenario is that we will see a short period of price drops all around the market as people panic over nothing and sell to stay ahead of the drops. otherwise the market will go on with or without shitcoin such as USDT.

Panic sales in the event of tether collapse would have an opposite effect on bitcoins and the rest of the cryptocurrency market.
If holders are selling out, they could be switching to bitcoin which is the top currency rather that USD. And such influx would increase the value of BTC.

Tether doesn't control the market

The value of Bitcoin resides in the global decentralized network.
My understanding is that  BTC is largest and most powerful computer network in the world.

These other coin which aren't mine able don't and won't ever have that value.

Bitcoin is the platform the others try to copy.

Bitcoin mining network is getting stronger everyday.

I don't see how a Tether coin or Ripple can have any real impact on BTC.

Wether Tether is trustworthy or not, is highly debatable. Though it doe lokk like that it will crash soon enough from the condition of the coin in the market, it is unlikely that it will collapse the whole market. Worst case scenario, there will be some fall in the prices of other coins too and people will panic a lot, but the market won't collapse.

Tether had so many controversies, the most popular might be Bitfinex scandal, and not to mention some other bad news about Tether. The most recent news is the delist of Tether by Binance which is turn out to be a fake news, however Binance now delaying the withdrawal process of USDT because of that fake news. For me myself I don't really interested in crypto that backed by fiat (what so called "Stable Coin") like Tether, TrueUSD and soon. I think this currency is not necessary, the only real use case is to trade between Crypto and Fiat, but I it will be better if we trade directly from crypto to fiat.

It is hard to say really even after the panic period. Bitcoin price got a huge boost after the Tether panic selloff. So I don't think Tether can collapse crypto market; rather it would have an opposite impact.

usdt is a coin created by exchange giant binance.  as long as binance is operating, usdt will be present and tradeable 1:1.

I do not think so, i think even if something bad comes out of usdt even then people will start tonsell usdt and buy crypto, so this will infact boost the crypto market and put oressure on usdt, we have seen the trailor recently, so there is nothing to worry about crypto collapse due to usdt also there are alternatives of usdt already in the market.

Every cryptocurrency is a potential risk and volatility.Still the crypto is relatively good to those who are only using cryptocurrency as their asset instead of a currency.

Everything that comes out of this market has its own risks and all of our investments are risky in this time. I think USDT is not as safe as before because there are lots of Fiats competing directly with USDT such as TUSD, USDC and many other coin will appear in the coming time.

What could be the reasons for a possible USDT collapse?
USD has no less reason to collapse, but still here.

USDT accounts are not open and transparent. So yes. The risks of USDT are enormous. There are many alternatives in the market. Such as PAX GUSD USDC TUSD and so on. I believe their presence will break the balance of USDT. At the same time. Better maintain market stability.

the only reason why Tether got big was because of the last year's pumps and the fact that most big exchanges (altcoin exchanges and also bitfinex itself) only had USDT listed for exchanging most coins and when the dumps began a lot of people wanted a stable coin to stay in while the altcoins were getting dumped.
as they cash out or go back to bitcoin the value of Tether drops and now with all the coins in circulation there is a sell pressure pushing the price below $1.

as for total collapse, i think it will eventually happen because it is a centralized company and the world won't let it grow too big, specially US since they are using their dollar in a way.

I think tether is very safe. But, lots of speculation news circulates. Don't mind them.
Tether is very rooted and very reliable.

Tether will always be risky until it's proven that they have the USD funds to withstand a run on tether. As for if it would collapse the market I don't think it would be as catastrophic now that people are so aware of the dangers. It would be a bad time for cryptos though and I suspect we'd see around 30-50% wiped off the market value if it were to happen.

Tether has big problems, I don’t understand why they are audited, I think in the future there could be a disaster in the crypto world because of the Tether.

USDT is a speculative asset. Remember at least their problems with the Bitfinex exchange. I think USTD poses a certain threat to cryptocurrency markets.

no it is not i will recomend you to covert your portfolio into Tusd not Usdt as it is not really backed by the usd $ but TUSD is backed by the usd $

I don't trust it, the value of Tether comes from the fact that the company pledges to hold a reserve of $1 dollar for each tether coin that is out there, current it's a safe way to exchange altcoin to tether while market price dip because we still get the $1 value, but how do I know that when tether will collapse and who's guarantee to give me back $1 if tether collapse? I think tether collapse is not a bad thing and it'll affected bitcoin price rising

USDT suffered very hard time last week, but it sill stand as it did in the past
anyway, USDT still be the biggest stable coin right now, even it's not trustworthy, must take time to replace it by some others

https://coinnounce.com/tether-make-or-break-for-the-stablecoin/

https://cryptodisrupt.com/the-tether-controversy-an-interview-with-ryan-from-trueusd-and-robert-from-eterbase/

https://www.youtube.com/watch?v=JMpAAzYDjw4

For you guys' reference on why Tether is sooooo confusing right now..

There were such fears that today cannot be confirmed officially, I also do not quite correctly understand what is happening specifically here, but still today I can say that there are such fears that in the end can lead to big problems.

With more so called 'stable' coins in the future, yeah. Some people think that USDT is being dumped for USDC.

The incredible growth of Tether over the past year was caused by the market demand for stable tokens, which filled the USDT. Until recently, questions about the legitimacy of Tether and Bitfinex were mostly ignored by the market and the USDT was an absolute monopolist, creating 98% of the total trading volume among all stable coins. Over the past week we have seen a loss of confidence in Tether and the market is expected to respond to the fall in the price of USDT against the us dollar. Taking advantage of the situation, other stable coins and exchanges began to create an alternative market. This drop in confidence in the market may signal that Tether has reached its peak of acceptance.

Every cryptocurrency has a potential risk. This is no different. Before going about investing into this or something along the lines it's important you acquire appropriate knowledge on the matter. As you have to understand that there are risks involved so it is beneficial to be careful.

In any field of activity it is difficult to say whether this or that product will be reliable. No one and nothing is insured against fraud.

Tether has very low volatility since its inception. It has been going through some downturns but it is expected to return to profitable highs.

Tether was a good stable cryptocurrency but as we know cryptocurrency market is very volatile and may effect any crypto, which was the case with tether. But it is hoped that soon it will be back to its stable form.

Crypto market is very volatile. Any coin going through a rough patch is very coin. I don't think Tether will collapse rather the price is going to get up very soon.

We can only keep faith with USDT having actual USD value to back it up with, though it looks very fishy time to time, but the company has proved in the audits about the usd backing there USDT.
I personally, prefer staying in satoshis rather than USDT, however, during the collapse of entire cryptospace, I sometime convert my satoshis in USDT and then turn back them in Satoshis when the prices are real low.
I always have the same fear but eventually till now I did made decent profits by trading BTC-USDT and retrading it back to BTC.

what are you talking about, tether is always stable and will always be like it's already stable enough. The reason why usdt will never drop too much is because thereis always this people that trying to take advantage of usdt and make a margin trade

The concerns over tether has been increasing and people are still asking about their competence, authenticity and a whole lot but I think it's not bad. At least, it pioneered the stablecoin era, but well i can't say much about tether because i don't know much about it.

There is no way that tether will be able to collapse the market, the only thing that tether can collapse is tether, only if that happens then it would affect the market just like when bitconnect failed. There would be a dip in the prices of the coins due to people losing their money but then it would only be a matter of time and the coins will be back up

I also have this opinion, because it seems to me that, nevertheless, the USDT project cannot be so durable, it is simply impossible, because such large resources simply cannot be available to anyone alone.