Bitcoin Forum

Why do people not promote Tether instead of Bitcoin? 

Is it because there is no money to be made in Tether?

Isn't the whole idea of Bitcoin to have a decentralized network that is useful and fair?  Isn't that Tether?

1:1 seems fairer than 1:20,000 ...

Tether has no cap. You can have a million more next month, or 2 million. They can do whatever they want to do with it since it's not 100% backed in USD, so tether case isn't as simple as you might think.
Also, Tether has a company that makes it - ifinex and it's located in Hong Kong. That's at least 2 red flags for me.
1. Has a physical company and a CEO that can become a target.
2. Company is in China and we all know how Chinese government is.

Third red flag is the company's transparency, or rather lack of it.

Tether and Bitcoin are two different things mate, while one is an stable coin the other one has it's own blockchain.

Tether is a smart contract and not a Blockchain, that's why people prefer Bitcoin against Tether. To send Tether you need to pay fees to the ETH network, and that's not decentralized at all, you see what i mean?.

Tether was a tool created for the crypto markets that you can buy if you feel the markets will crash, and avoid losing money (without having to hold the money on your bank).

Wow, Tether basically goes against all the main tenants of bitcoin and is antithetical to bitcoin.  A so called "stablecoin" that isn't much more than fiat in disguise.

If you were to use Tether then it's better to use your fiat. Tether has created by having the USD in mind. They say it's backed by USD 100% but it is not. It's just a smart contract and Tether company can close it anytime if they want.

It seems your basic about bitcoin is not clear. Bitcoin is a blockchain, a decentralized system which no one own it. Bitcoin is not here to give you profit and lose. It's a currency. But because of the demand in market the value against fiat moves up and down. I suggest you to read bitcoin white paper: https://bitcoin.org/bitcoin.pdf

People use Tether instead of Bitcoin because it is more like the currency they're used to spending.  They don't want to watch exchange rates or worry about making conversions to spend money.  They just want to pay and go about their day without worrying that their savings could be worth 20% what they saved when it's time to spend. 

Tether will also likely be replaced by central bank digital currency in the future, not to mention the other issues that people have brought up already.  Tether is cool, but it's no Bitcoin.

Tether is a psuedo cryptocurrency without any supply cap. It is better positioned as a digital version of dollar rather than a full scale cryptocurrency. So if you are taking about cryptocurrency, Tether doesn't really fit the bill.

Also when it comes to volume, Tether churns out a major volume every single day into the crypto market because of the calculative convenience it provides to the tether. So it ia heavily promoted in the market. Your statement doesn't stand at all.

The objective of fairness and decentralization in Bitcoin is not attached to it's equivalent value in fiat.

Bitcoin is 1:1 cause 1BTC would always be equal to 1BTC regardless of global economic changes and market movements. You are also certain that whatever amount of Bitcoin you own would be a part of a fixed supply not exceeding 21 million coins as opposed to tokens that have no definite supply.

Are we promoting bitcoin? Yes, sort of but it doesn't look that we're all promoting it because you're in a bitcoin forum and majority here are holders of bitcoin.

Bitcoin is also earned and there's not that much difference on it until you're holding both of them. Bitcoin is volatile and Tether isn't, many also from us are using Tether to keep our profits to be safe during these unstable times.

Tether is managed by a company, and that company could actually print more tokens that they have reserves, maybe it was doing it all this time. They can also freeze transactions and balances. USDT is more like online bank than a cryptocurrency. Plus the point of Bitcoin is that it's not a US dollar - that it doesn't lose its value due to inflation.

Tether is only relevant for crypto users just for them to protect themselves from volatility but in overall perception and views then for sure we are sharing on the same opinion.

You could totally differentiate bitcoin and a stable coin like usdt.All of us do really ive out importance about anonymity and decentralization thats why its no
surprise that bitcoin is really getting more support than on any stable coins out there.

Dont get surprised on how or what we are seeing on stable coins existence and relevance.  ;D

Tether is just the same as the fiat we are used to daily , nothing to promote Tether about when we already know bitcoin is more better.  Tether is still the same as saving money in the bank, if you save some amount of money in the bank and come back for it in the next 20 years it will still remain the same thing,  so has Tether too . The benefit of tether is just help bitcoin not to lost value in bear market after having profit in bitcoin.

I'm sure you know what the reason is before you even start this thread. Bitcoin is not the same as Tether as you mean, it is two completely different cryptocurrencies and what you mean by fair doesn't seem fair to me at all. Tether is the reason why you are not decentralized for the financial system, while bitcoin will help you keep your financial privacy better and fully decentralized. You can't trust Tether completely, but you can trust as much bitcoin as you can.

Both might be cryptos but there mood of operation is very much distinct. Before bitcoin ever became an asset, it was first of all a currency and that's why we had early adopters spending what is today a whole lot for a few bottle of beer and pizza. In recent time, it has become a currency of value and as such, a lot of persons prefer it to anybother currency coupled with the fact that, its the only truly decentralized currency there is with satoshi completely out of the picture and it has blockchain technology and miners to secure it.

Tether is just a stable coin that could aid in value preservation in times like this and its been used by some as such and also buying of coins. Even at that, people aren't so sure of it as, its supposed to have a fiat equivalent in $ for every piece put there but this is unlikely the case.

Tether isn't the same as fiat though they are both centralized, and yes Tether is a stable coin pegged to US dollar, nevertheless it's still a cryptocurrency. I wouldn't advice hodling Tether for 20 years, Tether backing is controversial making them unreliable.

I will ask back, if for example we use Tether then where can we get big profits when facing a bull market? what is your concept of running Tether as investment advice instead of Bitcoin?

How is it different from the paper money you hold if you don't invest it? will it have incremental value periodically?
Before going any further, try asking yourself about such things. I'm sure you will think that it turns out that Tether and fiat both have the same advantage, namely inflation.

Tether is the same thing as fiat (US dollar)when it comes to value.


I never said tether is not a cryptocurrency, what am trying to say is that they share same nature of values
Nobody would,  I'm only giving an instant.

Both have different purpose, of course, it's pretty obvious, tether is stable coins so you can't make money out of it because it is pegged 1:1 to USD, you can't even call your money investment on them.

But there are traders who uses Tether just to stop the bleeding on their money, i.e if bitcoin price is going down hard, maybe some of them will hedge to Tether, at least it is said as your bitcoin will have a 'steady valuation' despite the market crash.

I agree, Tether had been fined because of their lies about USDT being fully backed by USD.  Besides Tether is centralized unlike Bitcoin, meaning the developer can tweak anything according to what they wanted.  besides, they(Tether) can blacklist any address anytime.

It is not the same at all? It is not as decentralized as you think. Tether is owned by a centralized company. I guess you didn't know that they can even freeze your wallets, reverse the transaction and remove your funds anytime they want (like banks can freeze your funds and bank account)? Google "tether freeze funds" and you will know what I am talking about. You might also think that it is 100% backed by US dollars, but it isn't. So stop comparing and saying that tether is better than bitcoin.

If you want to avoid the volatility of Bitcoin and you want your funds to become stable, you can convert it to Tether USDT.
I can see these situations in most of the traders, they are mostly doing it in exchange for where most of their funds are stored in exchanges.
So, some also transfer it to their personal wallet after converting.

I had to use Tether for few weeks to have them for a trade. It was hard time and stressful knowing that anytime anything could happen. It was unlikely though that with that short period of time anything was going to happen but you know it's the stress you take. Once I exchanged them in BTC I was in peace LOL

It's a completely lie. This is a good read. (https://www.cftc.gov/PressRoom/PressReleases/8450-21)

Let me tell you that Tether is not decentralized, it is completely decentralized, Tether cannot be compared to Bitcoin in any way because they are completely different, Bitcoin is decentralized and has a limited number while Tether is centralized and has an unlimited number, but provided that each currency is secured with the equivalent of 1 dollar in the bank, this is very dangerous if There were no real dollar assets in the bank so this exposes Tether to collapse, Tether in the past has already been subjected to such accusation that there are no real assets that cover the entire currency.
This, of course, is in addition to the main danger, which is centralization.

I do agree with this 1000% I say I a lot of times too. and there is dozen of thread that discuss about this stablecoin and i don't want happen like LUNA did

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and for the op bitcoin is the only one that can make profitable in long run rather than tether and that is cryptocurrency do  ;D

Because Tether is centralized and controlled by a company it means that your finances are controlled by an institution and they have the ability to do anything with tether, even print more for the benefit of the company, so bitcoin cannot be compared to tether even by other coins

As long as PayPal exists which is a million times safer than Tether and is just as centralized, nobody is going to "use" Tether. Your mistake is that you think a centralized token is in the same category as bitcoin but when you realize that the category is completely different then you can compare Tether with other solutions in its own category, namely PayPal (and others like it).

The only usage Tether and similar centralized shitcoins have these days is for traders who want to escape the crashing market using something they think is not going to fall and doesn't need additional KYC. This is why Tether is so popular among altcoin traders.

So you think that Tether is decentralized, useful and fair? Are you joking? Read more about Bitcoin and Tether and then come on the forum and start posting. Tether is a centralized fractional reserve shady company. Tether might be the next big reason for the Bitcoin price to go down to 10K USD. Nobody knows whether or not USDT is 100% backed by USD. We've seen other stablecoins collapsing. It's about time for Tether to collapse. Why use Tether, when you could use US dollars. Tether isn't any better than the US dollar.
There's no such thing as a "fair price". The market decides the price. If the price is 1:20,000 then this is the "fair price". It doesn't matter if it's going to be 1:1 or 1:20,000.

When I think about it, yeah that's probably one of the many reasons why I don't promote not just USDT but stable coins in general. There's no real benefit if you would just convert your fiat to USDT and move funds because you can simply do that with fiat. For international transfers, USDT could be faster and (might be) cheaper option than sending fiat since there's no bank interference but it still doesn't fall under decentralized currency as others have said.

Few differences between Tether and Bitcoin which you could have just got from a simple google search yet I will help you understand.

1. Tether has no max supply.
2. A company that owns tether controls it, how does that make it decentralized?
3. It is just eDollars, pegged 1:1 to actual dollars. What is the intrinsic value? The one we are running away from.

Bitcoin -
1. Limited supply, 21 million.
2. Truly decentralized.
3. Have a demand and supply which increases/decreases price at real time.

Tether is a stablecoin which already tells its meaning, it's value will always be tied with USD. If you want to avoid volatility then putting your money on stablecoins is a good idea but if you are looking for an investment that could be worth long term then put your money into bitcoin. Having both for me is the best option because it balances the risk of losing your investment when market is in unstable condition.

That's totally clear, bitcoin is famous and the main reason for the popularity of bitcoin is being decentralized and has a limited supply which is not going to be changed that's a good reason to say bitcoin is transparent when people use it. but on the other side, Tether's supply can change easily whenever they feel they need t and that's just like printing money in the digital way, which is not good, in the other hand whether promised to stay stable and don't change the price against USD over time while we all know the USDT collapsed sometimes ago, this will show how untrustable they are in transactions.

Why should they do so, aren't they two different things, bitcoin is a decentralized digital currency that works with volatility while Tether is a stablecoin that is fix and pegged to the USD standard rate, stablecoin is not volatile like bitcoin.


I will advise you read about stablecoin and how you can trade with it to realize profit, learning how to trade is another thing entirely you needed to add up as a skill, trading between bitcoin/stablecoin.

Apart from all the above comments, I would say we have “trust” on the bitcoin and tether. The companies already under SEC radar and it has many litigations. Its not about that also, imagine story of LUNA while using tether and then imagine your hard earned or invested money into that asset! However, Bitcoin could really stand up to its fair value and it wont go zero just like that. There are bunch of institutional investment firms whose been holding millions of bitcoins and we have resistance from them. Definitely bitcoin is one step ahead in terms of asset holding and its security of market depth.

you have an indirect way you answered yourself. People value and invest in Bitcoin because it is a decentralized currency and it is also an asset so having bitcoin as asset is what makes people to value it and be interested to it. I believe that cryptocurrency he said kind of currency that I appreciate people's funds but not like Tether. Tether is stagnant currency which does not add any value when who did why Bitcoin add values and also reduce values thats why some people do not value it.

If Tether is involved in more Bitcoin transactions, It can be construed as part of a systemic risk and it is a stable coin not part of the Blockchain system, nor it is centralized,transparent and you will also have to pay fees for its transaction.

This two coin are different from each other and we should not compare the two because Bitcoin is not a stable Coin. Bitcoin is a decentralized coin which all other coins depends on the movement apart from stablecoins. Tether is a stable coin which is pegged to USD. It is not volatile like other coins that depend on volatility to make gains or lose. Stable coins are used when the market is not certain or when investors want to keep their fund without allowing it to depreciate in value.

It's worse than fiat: it has all the drawbacks of fiat, and on top of that, it's privately created. That means it can lose value because the dollar loses value, but it can also just drop to nothing like UST did.

This is wrong in so many ways. First of all Tether is backed by the US dollar which is a point of major risk --> takes on almost all the properties of the greenback version.
Also Tether is built upon Ethereum so it depends on another blockchain health. I'm not saying that Ethereum security has not been proven, but we all know that Bitcoin is by far the strongest in terms of network security.

The main idea besides Bitcoin is p2p cryptocurrency that is not controlled by a central party. Tether is quite the opposite being backed by a currency that IS controlled by the US government.

You only ask questions but you do not really give us a real reason to use tether, if you like tether so much you have cash, credit cards, debit cards and soon enough CBDCs, why bother with tether since it is a weaker and more flawed version of fiat? Bitcoin is different, maybe you do not like its characteristics and if that is the case then you are free to not like it, but bitcoin is a revolutionary concept which many find way more attractive than whatever form of fiat governments would want to impose to us in the future.

See bolded - that’s exactly why people prefer bitcoin to USDT as an investment vehicle. USD is losing purchasing value every year, inflation destroys lives & USDT is pegged to USD. Bitcoin is the lifebelt to save people from financial ruin. USDT is fine to transact immediately but for long term HODLING it is useless.

Truthfully the main reason now people INVEST in Bitcoin is more of a profit-making rather than just the idea of having a decentralized network. Again speaking truthfully, would you OP rather invest in Tether or Bitcoin? even though we know that Tether is still always in the picture if you understand what I mean. 

And why will they promote? It is already popular because it's the same as dollar and we know what dollar is right? But the only difference is that tether is digital. Unlike the dollar, bitcoin was still new to many despite of running for some years.

No that's not true. You can make money in tether via staking, lending and there might be other more than this which I forgot or I didn't know yet.

Yes you're right, the idea of btc is for the people to experience decentralization in terms of money/currency. Tether on the other hand is also useful because we can use it for payment or sending money and also it can be used for trading cryptos to prevent them from fluctuating but on the fair part I think no it isn't really that fair.

This is the most honest answer posted yet.  Thank you.   

I would not invest in Bitcoin or Tether.  My original question related more to the actual use of cryptocurrencies as currency - but that is not what the vast majority of bitcoin holders use it for. 

Yeah, people do not invest into tether because tether is ruled by a company and not decentralized is the number one thing, plus they are much shadier than their competition as well, I would do to BUSD and not USDT if I was investing into a stablecoin as well, so decentralization and trust is one of the reasons.

Secondly, I do not invest into any stablecoins. Because, it is clear to me that we are talking about a situation where it is going to be just the same price at all times, why would I do something like that? I mean crypto would go up and make me some money, if I were to invest into stablecoins, I could just put all my money into regular dollar as well. But crypto means better returns.

Even gold, silver and EUR are losing their value against the USD right now. So the idea of USDT can be an investment isn't wrong at least for the short term and despite the inflation rate this year will be high. I wonder what the BTC-USDT rate or similar stable coins will be? Will the same happen to BTC, losing value against USDT since USDT say is back 1:1 to USD?

Other than the making money phenomenon, keeping money in USDT is dangerous because it is not backed 100% and there is a risk that it may depeg with the dollar.

For a moment, think that USDT (Tether) is 100% backed, then why would you keep your money in USDT, when you can keep it in USD (fiat ) currency? If anyone thinks to keep money in USDT, for the long term, better to keep it in fiat dollars.

I've been always saying that for me Tether is only viable for traders who are worried about taxation. In many countries it doesn't really matter if you exchange for USDT, or Fiat money. What counts is withdrawal to your bank account or via ATM. This is the taxable event, not the trade itself. Such people don't care if they exchange for fiat or USDt and fiat could be a much better choice because it's less risky and you don't need to make one additional transaction to fiat before withdrawing.

I've never used USDt and probably won't have to.

It is clear that you do not appreciate the seriousness of your proposal if it was actually achieved and implemented. Stable coins originally cannot be considered as cryptocurrencies with the characteristics of other cryptocurrencies that derive their value from the projects that support them. Stable cryptocurrencies are an encrypted version of fiat money.
It was created and used mainly for a specific function which is to use it as a trading instrument, enabling traders to freeze their balances in times of price decline or buy at a fixed price in order to avoid price fluctuations.

Imo this may be because the Tether is a centralised crypto and theoretically is expected to remain more stable than bitcoin which is a decentralised cryptocurrency.

Because Tether is not decentralized - all coins are minted by a centralized company that can regularly alter the supply and demand at will, and who in some cases have manipulated the price of USDT in order to short or long other cryptocurrencies.

Why do you think the US regulators are chasing after stablecoins?

I agree with you on this. Why do Investors worry so much when the prices of cryptocurrencies start to drop as we have seen in the past months or even in a previous bear market? Every investor wants to make profits off their investments at the end of the day. We have seen HODLERS of Bitcoin from the years past telling us how some of them have not sold a single satoshi and how BULLISH they are, and why are we always waiting to buy the dips with Bitcoin? (Buy low Sell High) that's all about profit and we cannot say the same for Investing in Tether. 

Tether doesn’t fit in the concept of cryptos as it is a centralised currency and is linked to the real world’s currency unlike bitcoin. Moreover, tether is a stable coin unlike other cryptos which does not go with the nature of cryptocurrencies which is volatile in nature.

First of all tell us why you want to use Tether instead of Bitcoin, and where exactly you plan to use it. If you just want and dream to make daily purchases with crypto, but use Tether instead of Bitcoin, then why dont you use fiat instead? It is same US dollar. Why do you need extra steps like converting, buying, having wallets, private keys and etc? Just use cash, wear gloves and glasses and be an "anonymous" payer :)

OP I think you really have to do more findings so you could understand what you are saying. For a clear understanding, tether is a stable coin with a smart contract on the ethereum blockchain. Please you should nite this that tether however is a token and not a coin as you presumed. Tether can be controlled and has millions of it in circulation. It is equivalent to one us dollar in real life. Now back to Bitcoin. Bitcoin as we all know Is a blockchain on it's own void of any centralized authority and has a scarce supply of 21million in supply. It has more appreciable value than tether as it is not controlled by any authority.

Tether is a fiat currency from my own observation and my own understanding of cryptocurrency. why bitcoin itself is a decentralized currency which can work or collaborate together with fiat currency. as a cryptocurrency been popularly known as Bitcoin at the heads of other cryptocurrencies can not deal or do without the action or the help of Fiat currency. We all know that Bitcoin have it domination since introduction to the world but that does not mean that it does not work under Fiat currency because fiat use to purchase Bitcoin. So without it Bitcoin can not exist alone.

You should learn what is fiat currency and what is stable coin. They are not the same. CBDC can be a replacement for fiat currency because it is controlled by government and central bank. However, stable coin is not a replacement for fiat currency in aspect of governmental control. Even they can have same value on market but they are different.

The total supply of stable coin should be very smaller than total supply of fiat currency because governments won't allow companies to mint stable coins too much and exceed total supply of fiat currencies.

Tether can not be compare with Bitcoin, because, Bitcoin has blockchain, while Tether does not have, and where Tether play a role when market is going dip, as a smart trader at that point in time, make use of Tether to hold the same value as a stable coin. Having said that, Tether does not add value, but bitcoin changes values from time to time and is very good to invest for long term holding.

I believe the OP is not well-versed about btc and usdt.
USDT is a stablecoin backed by fiat, and its value won't change much as it is stablecoin.
People go to this currency to avoid the volatility of the market.
Whereas, a lot are trying their luck to invest in btc for the hope that it will give them profits later on.

You will perhaps be thinking OP that people aren't coming to make use of this Bitcoin to purchase stuff like fiat money but they come for investment purposes in order to multiply their money. That is why they are preferred to take Bitcoin over Tether knowing that this will give them profit due to its volatility. But Tether can't and it was impossible.

So, you don't need to wonder why people had chosen Bitcoin and ignored stablecoins as they are considering crypto as an investment, not a purchasing tool.