What are your thoughts on USDT?

[AF80]

Hello everyone,

So I just recently got into trading and really loving it. I have to admit I haven't been doing so bad. My main goal is to accumalate as much ETH as I can since Alt coins seem to perform better against it as opposed to Bitcoin.

My main question though is regarding USDT. I've done quite a bit of reading on it and I like that it is a stable coin, but I am very nervous as it seems that the team behind it is quite shady in that they refuse to be audited. I've stayed away from it even though I do see it as very useful to hold any profits incase Ethereum goes down, but I always have this fear that I'll wake up one day to a scandal behind Tether and they would be useless and no one would want them.

What are your thoughts on this coin? and if you have the same anxiety how do you get around it locking in profits?

[littlebill16]

So I just recently got into trading and really loving it. I have to admit I haven't been doing so bad. My main goal is to accumalate as much ETH as I can since Alt coins seem to perform better against it as opposed to Bitcoin.

Shouldn't your goal to be to attain most of what you think will do best against usd or your home currency?

My main question though is regarding USDT. I've done quite a bit of reading on it and I like that it is a stable coin, but I am very nervous as it seems that the team behind it is quite shady in that they refuse to be audited. I've stayed away from it even though I do see it as very useful to hold any profits incase Ethereum goes down, but I always have this fear that I'll wake up one day to a scandal behind Tether and they would be useless and no one would want them.

What are your thoughts on this coin? and if you have the same anxiety how do you get around it locking in profits?

There's large uncertainty around tether and a lot of accusations that they don't have funds in reserve and it was used to inflate the price of bitcoin. If these are ever confirmed then the price of tether will tank hard. For that reason I use tether as little as possible.

[ModaFuka1994]

Currently, with the USDT crypto, you can completely reassure exchange for this coin because if there is negative news about this USDT, it will not be able to reduce the exchange rate because it is stable at the level of $ 1. I usually exchange USDT when Bitcoin rates or altcoins drop quickly to avoid losses, exchange to USDT then hold and wait until the bitcoin or altcoins rate to the bottom and then buy and hold until the market of cryptocurencies recovery )))

[feverpitch]

usdt is nice , becose anytime u feel bad in crypto u can out to usd and have a rest there after u can go to crypto again , before it was very hard becose every time u need to cash out to fiat and loose big % of that , with usdt all become easy and faster . I like it and hope everything will be good in Teather Team and devs.

[faithupgrade]

USDT is a very important coin in the field of crypto. Remember if BTC crashes,  Alts crashes more.  And the only thing to save the value of your profit or investments is by hedging it to USDT coin.

Hello everyone,

So I just recently got into trading and really loving it. I have to admit I haven't been doing so bad. My main goal is to accumalate as much ETH as I can since Alt coins seem to perform better against it as opposed to Bitcoin.

My main question though is regarding USDT. I've done quite a bit of reading on it and I like that it is a stable coin, but I am very nervous as it seems that the team behind it is quite shady in that they refuse to be audited. I've stayed away from it even though I do see it as very useful to hold any profits incase Ethereum goes down, but I always have this fear that I'll wake up one day to a scandal behind Tether and they would be useless and no one would want them.

What are your thoughts on this coin? and if you have the same anxiety how do you get around it locking in profits?

[grimesrhymes]

Currently, with the USDT crypto, you can completely reassure exchange for this coin because if there is negative news about this USDT, it will not be able to reduce the exchange rate because it is stable at the level of $ 1. I usually exchange USDT when Bitcoin rates or altcoins drop quickly to avoid losses, exchange to USDT then hold and wait until the bitcoin or altcoins rate to the bottom and then buy and hold until the market of cryptocurencies recovery )))

That is only if it's actually backed by anything and that they even honor it if it is.

USDT is great for selling highs and buying lows or for riding out storms but it's not USD and you need to be aware of that

[Direwolve735]

USDT is a crypto-currency asset issued on the basis of a bitcoin blockchain through the Omni Layer protocol. Each USDT unit is backed by the US dollar, which inspires confidence. USDT was created to facilitate the transfer of national currencies, providing users with a stable alternative to bitcoin and checking exchanges and swallets that are currently unreliable. Thus, we get an extremely reliable and transparent system that relies on the oldest and most secure bitcoin`s blockchain and provides users with a stable asset for national currencies.

[~Bitcoin~]

USDT is supposed to be USD backed token but there are many suspicion around this coin and accusations against them about printing out more USDT token to artificially pump bitcoin price during corrections which are not backed by any real USD in their bank accounts. Also USDT is supposed to be linked with bitfinex exchange which itself is not quite secure platform and have some dark histories.

I mostly trade against  USD or EUR rather than against USDT token. But you can use them temporarily to lock profit on your daily trades.

[Borisb52]

Too, I think the USDT token is not the best option for storing its investments in it. It is not known how many of these tokens are released and at any time its price can collapse very much.

[crypto1nvest]

Hello everyone,

So I just recently got into trading and really loving it. I have to admit I haven't been doing so bad. My main goal is to accumalate as much ETH as I can since Alt coins seem to perform better against it as opposed to Bitcoin.

My main question though is regarding USDT. I've done quite a bit of reading on it and I like that it is a stable coin, but I am very nervous as it seems that the team behind it is quite shady in that they refuse to be audited. I've stayed away from it even though I do see it as very useful to hold any profits incase Ethereum goes down, but I always have this fear that I'll wake up one day to a scandal behind Tether and they would be useless and no one would want them.

What are your thoughts on this coin? and if you have the same anxiety how do you get around it locking in profits?

Yes not everything clear with USDT. But if you worry so much you can trade on Bitstamp they have the real USD

[Bolt Brownie]

USDT is a crypto-currency asset issued on the basis of a bitcoin blockchain through the Omni Layer protocol. Each USDT unit is backed by the US dollar, which inspires confidence. USDT was created to facilitate the transfer of national currencies, providing users with a stable alternative to bitcoin and checking exchanges and swallets that are currently unreliable. Thus, we get an extremely reliable and transparent system that relies on the oldest and most secure bitcoin`s blockchain and provides users with a stable asset for national currencies.

I would agree with you if tether wasn't facing so many problems with audits. What you are saying is the model under which tether should work, but we just don't know if that is true. There is no way to know if they everything single tether in circulation is really backed on a 1:1 ratio with the USD. This is there the problem starts, and the reason why tether doesn't bring any confidence to the market, as you are referring. It's quite the opposite right now, and tether brings a lot of doubts, even on the bitcoin price itself, because some people claim that maybe tether was printed like fiat, out of thin air, and used to pump bitcoin price. Without audits, we simply cant know for sure. This is why I don't really like tether, and I don't use it.

[Palcinko]

The idea of USDT is good one, it should back USD but time will showe how it going to hold up...

[ssuchy]

USDT is a crypto-currency asset issued on the basis of a bitcoin blockchain through the Omni Layer protocol. Each USDT unit is backed by the US dollar, which inspires confidence. USDT was created to facilitate the transfer of national currencies, providing users with a stable alternative to bitcoin and checking exchanges and swallets that are currently unreliable. Thus, we get an extremely reliable and transparent system that relies on the oldest and most secure bitcoin`s blockchain and provides users with a stable asset for national currencies.

I would agree with you if tether wasn't facing so many problems with audits. What you are saying is the model under which tether should work, but we just don't know if that is true. There is no way to know if they everything single tether in circulation is really backed on a 1:1 ratio with the USD. This is there the problem starts, and the reason why tether doesn't bring any confidence to the market, as you are referring. It's quite the opposite right now, and tether brings a lot of doubts, even on the bitcoin price itself, because some people claim that maybe tether was printed like fiat, out of thin air, and used to pump bitcoin price. Without audits, we simply cant know for sure. This is why I don't really like tether, and I don't use it.

I fully agree with the audit of this or that project, but it is necessary that this is a trusted company that can be trusted. Because if there are dubious results, who then what is the point of doing it all.

[ecnalubma]

Haven'used USDT ever since but I think it will secure the value of your investment when market collapse the only question somehow is the transparency and the credibility of its creators. The coin is no doubt a helpful tool, however it needs to be transparent to be trustworthy enough for investors so they must show off their real funds if its real and for auditing.

[hurry_hore]

Hello everyone,

So I just recently got into trading and really loving it. I have to admit I haven't been doing so bad. My main goal is to accumalate as much ETH as I can since Alt coins seem to perform better against it as opposed to Bitcoin.

My main question though is regarding USDT. I've done quite a bit of reading on it and I like that it is a stable coin, but I am very nervous as it seems that the team behind it is quite shady in that they refuse to be audited. I've stayed away from it even though I do see it as very useful to hold any profits incase Ethereum goes down, but I always have this fear that I'll wake up one day to a scandal behind Tether and they would be useless and no one would want them.

What are your thoughts on this coin? and if you have the same anxiety how do you get around it locking in profits?

Seems you are not an old person in touch with trading, my first suggestion is be-careful. Trading is not simple as buy at low price and sell at high price, even seems so. You need to do sufficient preparation, for basic knowledge of trading can see this link : https://bitcointalk.org/index.php?topic=2960563

Related with USDT, that is a virtual USD that should be almost same with USD. So I think it will be mostly influenced by USD price in non-virtual (real) world, and non virtual currency is depending many factors including government which is not independent that opposite with blockchain and cryptocurrency as independent characteristics. So becareful to trade with USDT.

[Scallywag]

for trading the idea of usdt is great , you have a safe place to go to when you think the market is going down and you don't want to lose any value. but there has been a lot of talk about price manipulation of bitcoin with usdt. the fact that they can't prove that every usdt is backed by a dollar makes it even harder to trust them. so while i like the idea i don't trust them enough to put my money there.

[Direwolve735]

USDT is a crypto-currency asset issued on the basis of a bitcoin blockchain through the Omni Layer protocol. Each USDT unit is backed by the US dollar, which inspires confidence. USDT was created to facilitate the transfer of national currencies, providing users with a stable alternative to bitcoin and checking exchanges and swallets that are currently unreliable. Thus, we get an extremely reliable and transparent system that relies on the oldest and most secure bitcoin`s blockchain and provides users with a stable asset for national currencies.

I would agree with you if tether wasn't facing so many problems with audits. What you are saying is the model under which tether should work, but we just don't know if that is true. There is no way to know if they everything single tether in circulation is really backed on a 1:1 ratio with the USD. This is there the problem starts, and the reason why tether doesn't bring any confidence to the market, as you are referring. It's quite the opposite right now, and tether brings a lot of doubts, even on the bitcoin price itself, because some people claim that maybe tether was printed like fiat, out of thin air, and used to pump bitcoin price. Without audits, we simply cant know for sure. This is why I don't really like tether, and I don't use it.

I'm talking about how it should be, and you're talking about how it is. I agree with you that the USDT has problems, which are not resolved at the moment. I very much hope that the company's statements can be trusted and they will justify the hopes. The main advantage of the NDAP is that it solves two problems: not the availability of real assets and the volatility of the exchange rate. According to Tether, USDT is secured by US dollars in the proportion of 1 to 1. Now we can not find out if this is true, but time will tell. However, if this is so, then It allows you to trade on the crypto exchange markets as a substitute for the US dollar with low commissions and almost instantly. And this is exactly why I like tether.

[contactmike1]

I would recommend stay away of USDT, now a situation around it is quite tricky,  and they dont stop emission of Tether,  recently their management emited enormous amount of USDT,  so I am afraid that this story has no happy end

[myworkstrade]

USDT , something fishy about this coin, they increased the volume supply last time and market ceash and suddenly news scandal about this they said its shady some sort of scam internal system. I doubt about this coin but its fine if you sabe some small amount of it don’t put all your hard money to usdt i’d rather be stay with eth or btc for sure and lo gterm good luck with that.

[Granxis]

for trading the idea of usdt is great , you have a safe place to go to when you think the market is going down and you don't want to lose any value. but there has been a lot of talk about price manipulation of bitcoin with usdt. the fact that they can't prove that every usdt is backed by a dollar makes it even harder to trust them. so while i like the idea i don't trust them enough to put my money there.

I used Usdt a lot, but to the best of my knowledge, Usdt has become a manipulator, so it has to be the counterpart of the USDT's on the market. I think the reason for Bitcoin's depreciation is to use the USDT as a manipulation tool.