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Author Topic: Bitcoin vs usdt (Tether)  (Read 276 times)
ZAINmalik75
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October 27, 2023, 06:46:43 PM
 #41

Bitcoin and Tether are different types of cryptocurrency.bitcoin is a peer-to-peer digital currency governor by any financial institution. Tether is a stable coin, it have same value of the us dollar. That's why it is less volatile than Bitcoin, it can also be use for trading on exchanges or it can be stored value.  Both have their potential of Bitcoin and Blockchain technology are endless.  It's a stable coin backed by us dollar, Both have their unique advantage. How well do you trust Tether stable coin?
I honestly don't trust any of the stablecoins, due to the de-pegging and termination of a few pegged stable coins like the USDC and BUSD respectively. If I have to trust between BTC and USDT then I will definitely select BTC because it is first not pegged which means, its price is based on the demand and supply factors.

It cannot be terminated like BUSD was delisted and destroyed a few days ago, as the US did not allow their company Paxos to mint BUSD anymore. So they started making the supply of BUSD and it had to be terminated Binance spread the word and everyone converted their BUSD into other tokens. I also had a few that I converted into BNB.

Both do have unique advantages but both have different cases too, BTC is the best source for holding your assets for longer periods of time because it is best for securing the value but usdt pair with local currency can make you loss. For example, if you bought USD with local currency at higher rates and then the price decreased, you will be making a loss. But in BTC losses also occur but in the long run, they don't.

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Mr.right85
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October 27, 2023, 07:15:22 PM
 #42

Bitcoin and Tether are different types of cryptocurrency.bitcoin is a peer-to-peer digital currency governor by any financial institution. Tether is a stable coin, it have same value of the us dollar. That's why it is less volatile than Bitcoin, it can also be use for trading on exchanges or it can be stored value.  Both have their potential of Bitcoin and Blockchain technology are endless.  It's a stable coin backed by us dollar, Both have their unique advantage. How well do you trust Tether stable coin?
Okay, I've gone through all you've got to say and I don't get the versus idea about the title of the OP.
Are you bringing them both into context of trust/reliability or into context as per value? I feel you really should have adequate your point clear on this.

Something I'll also like to point out though,
Bitcoin isn't govern by any financial institution as that would have made the coin a centralized coin but, it is in itself the only convinced decentralized cryptocurrency out there
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Again, Bitcoin is a p2p cryptocurrency and so is the Tether (USDT).

Another thing to note is, being dollar pegged doesn't make Tether any better coin than we have in Bitcoin. All existing altcoins are rooted with Bitcoin.
aylabadia05
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October 27, 2023, 07:45:50 PM
 #43

 It's a stable coin backed by us dollar, Both have their unique advantage. How well do you trust Tether stable coin?
When I say Bitcoin is not a coin that can be controlled by any party, this statement is a repetition of the words of the post that was on the first, second and third pages. However, that statement is correct and your point is wrong in comparing BTC with USDT.

Almost everyone brings some money into the crypto world to make a profit while hoping that the value of the currency does not decrease. It is impossible for fiat money brought into the crypto world to not have a long-term profit goal. If it were not for the hope of profit and maintaining value in the long term, investors would prefer to take advantage of the circulation of fiat currency in the business they do.

I can't guarantee that USDT is stored long-term and can protect value and will generate profits. Bitcoin has proven to be a coin that is successful in protecting value and generating profits in the long term.
The question is how much to trust USDT, I don't trust USDT even though many people use USDT as a BTC pair.

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