will tether collapse?

[xfaqs01]

hi guys i just wanna ask if it is still practical to hold or use tether now, because im hearing negative issues that it might collapse soon coz its centralize and can be created without backing of real USD?

What are your thoughts?

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[xtrump101]

yup i heard this one and the issue is all over youtube reviews about the controversy and i believe that they are creating tether out of thin air and they used it to buy bitcoin and dumping the bitcoin back to us, thats exactly what happend after the bull run last December we screwed up, since they cannot bring down btc they create altcoin itself to bring it down and people are slowly recognizing this and eventually tether will collapse just like bitconnect become zero, so be carefull on tether stay away from it!

[figmentofmyass]

hi guys i just wanna ask if it is still practical to hold or use tether now, because im hearing negative issues that it might collapse soon coz its centralize and can be created without backing of real USD?

What are your thoughts?

they're having banking problems. you can see it reflected in the prices at bitfinex or any USDT markets: prices are almost 2% higher than the rest of the market. it's well known by now that they lost banks recently (noble bank in puerto rico and more recently HSBC).

i'm not particularly worried about "tether printing". bitfinex is a massive profit-printing machine. i don't think they're insolvent in the "mt gox" sense.

my worry stems more from the fact that they keep losing banks. WTF are they gonna do when they've got billions of dollars in USD and EUR that they can't pay to their customers? also, if banks are feeling pressured not to work with them, you have to ask why and whether regulators are waiting to pounce on them.

[BitHodler]

There is no point in asking here. Tether could collapse today or somewhere in 2020 or could just as easily remain operational for ever. Holding stablecoins is always an issue, regardless of who the issuer is.

Bitcoin is even turned into a stablecoin meme on social media with how strong the base support has been. If you want to be safe, just hold Bitcoin and you'll be fine. I would never recommend anyone to hold stablecoins.

[xfaqs01]

they're having banking problems. you can see it reflected in the prices at bitfinex or any USDT markets: prices are almost 2% higher than the rest of the market. it's well known by now that they lost banks recently (noble bank in puerto rico and more recently HSBC).

i'm not particularly worried about "tether printing". bitfinex is a massive profit-printing machine. i don't think they're insolvent in the "mt gox" sense.

my worry stems more from the fact that they keep losing banks. WTF are they gonna do when they've got billions of dollars in USD and EUR that they can't pay to their customers? also, if banks are feeling pressured not to work with them, you have to ask why and whether regulators are waiting to pounce on them.

bitfinex might be the contributor of the bitcoin downfall because of printing more tether spreading it accros exchanges and bought it with major coin then dump them all at once back and boom everybody holding tether and theyre holding top coins then cash them out, i see the scheme clearly here, collapse is inevitable, thanks mate

[WinslowIII]

yup i heard this one and the issue is all over youtube reviews about the controversy and i believe that they are creating tether out of thin air and they used it to buy bitcoin and dumping the bitcoin back to us, thats exactly what happend after the bull run last December we screwed up, since they cannot bring down btc they create altcoin itself to bring it down and people are slowly recognizing this and eventually tether will collapse just like bitconnect become zero, so be carefull on tether stay away from it!

Uh, I don't think you get it. Tether was used to pump bitcoin and the alts last year, and the fear is that the billions of dollars of usdt was unbacked. This would make last year's pump entirely artificial. This is way bigger for crypto's image than what you are making it out to be.

[figmentofmyass]

Uh, I don't think you get it. Tether was used to pump bitcoin and the alts last year, and the fear is that the billions of dollars of usdt was unbacked. This would make last year's pump entirely artificial. This is way bigger for crypto's image than what you are making it out to be.

when you say "tether was used to pump" the market and therefore that the bull run was artificial, how do you really know?

lots of fiat money was flowing into GDAX and bitflyer, etc at the time and that was "pumping" the market too. why do you imply that fiat flowing into bitfinex or tether is somehow less legit than the other exchanges?

to be fair, the firm Freeh, Sporkin & Sullivan LLP released a report a few months ago and suggested that everything was kosher. tether's counsel has said straight-up that the major accounting firms won't work with them, so no audit.

at the end of the day, we don't get audits from any of the exchanges confirming their solvency. the same goes for regulated broker-dealers too though.

[WinslowIII]

Uh, I don't think you get it. Tether was used to pump bitcoin and the alts last year, and the fear is that the billions of dollars of usdt was unbacked. This would make last year's pump entirely artificial. This is way bigger for crypto's image than what you are making it out to be.

when you say "tether was used to pump" the market and therefore that the bull run was artificial, how do you really know?

lots of fiat money was flowing into GDAX and bitflyer, etc at the time and that was "pumping" the market too. why do you imply that fiat flowing into bitfinex or tether is somehow less legit than the other exchanges?

to be fair, the firm Freeh, Sporkin & Sullivan LLP released a report a few months ago and suggested that everything was kosher. tether's counsel has said straight-up that the major accounting firms won't work with them, so no audit.

at the end of the day, we don't get audits from any of the exchanges confirming their solvency. the same goes for regulated broker-dealers too though.

They can't dodge and weave forever. I sincerely hope this isn't a scandal that makes mt gox look like a mole hill.

[adaseb]

I've been around long enough not to buy any of this tether FUD.

If it really was going to collapse the premium would of been much higher than currently.

Even if USDT was somehow banned, I think they would halt trading of USDT and allow conversions to USD or some other stable coin.

Doubt they would outright ban it and cause billions of losses to investors.

[xfaqs01]

I've been around long enough not to buy any of this tether FUD.

If it really was going to collapse the premium would of been much higher than currently.

Even if USDT was somehow banned, I think they would halt trading of USDT and allow conversions to USD or some other stable coin.

Doubt they would outright ban it and cause billions of losses to investors.

yup they wouldnt ban it i think because they are profiting from it, but the ordinary community now are more aware of what is really happening ang eventually more and more people will lose trust on tether and dump them off, so they dont need to ban it the community wilk decide it if its trustable or not.

[WinslowIII]

I've been around long enough not to buy any of this tether FUD.

If it really was going to collapse the premium would of been much higher than currently.

Even if USDT was somehow banned, I think they would halt trading of USDT and allow conversions to USD or some other stable coin.

Doubt they would outright ban it and cause billions of losses to investors.

Who is this "they" you are referring to? This is way more complicated than you realize.

[pooya87]

the issue with Tether is not a new one. it has existed from near the start of it. basically it is because they are creating money out of thin air without any kind of cap or plan. the tokens are backed by real US dollar but the ratio may not be 1:1 exactly.

and the biggest risk has nothing to do with these things. the real risk is because it is a centralized coin issued by a company that is not regulated, legal,... this company can go down any time and that means vanishing of USDT with it. something like a hack can also be damaging.

[davis196]

I would be pretty glad,if tether collapses.
One shitcoin out of the crypto markets=more trust in bitcoin (and the few stable altcoins,who still exist).
Tether is just a scheme,we don't need that "coin".I don't think that bitfinex really needs that coin to ease the process of converting USD into crypto.

[xtrump101]

I would be pretty glad,if tether collapses.
One shitcoin out of the crypto markets=more trust in bitcoin (and the few stable altcoins,who still exist).
Tether is just a scheme,we don't need that "coin".I don't think that bitfinex really needs that coin to ease the process of converting USD into crypto.

me too id be more than happy if tether collapse, it was created to destroy bitcoin and the whole cryptocurrencies, bitcoin can survive without it and bitcoin will be great again!

[Tytanowy Janusz]

I would stay out of USDT now.

http://www.untether.space/

There you can check risk premium for trading theater. Its increasing every day. It means that slowly trader by trader is leaving it to trade with usd. Holding usdt makes you loose 2% this month according to USD. This might accelerate.

[xfaqs01]

I would stay out of USDT now.

http://www.untether.space/

There you can check risk premium for trading theater. Its increasing every day. It means that slowly trader by trader is leaving it to trade with usd. Holding usdt makes you loose 2% this month according to USD. This might accelerate.

now that thr crash has begun eventually more holders will follow so dont get left behind or else youll lose tons of money, i knew it this will happen o just never thought this would be earlier than i thought, and i hope that all exchanges will abolished tether ang rather use real fiat instead, like what bakkt will do in the near future

[1Referee]

I would stay out of USDT now.

http://www.untether.space/

There you can check risk premium for trading theater. Its increasing every day. It means that slowly trader by trader is leaving it to trade with usd. Holding usdt makes you loose 2% this month according to USD. This might accelerate.

I question that. Tether heavily depends on the market sentiment in order to either lose or gain value, and it has kept its value within a safe to operate zone for months straight. I'm even of believe that Tether has been on of the better hedges during the current bear market, especially with how you mostly don't have to trigger AML/KYC procedures when holding/depositing/withdrawing it. I don't like Tether, but I understand why it enjoys a wide level of demand.

It's pretty common for Tether drama to boil up again during price crashes and bear markets, because hey, people and the mainstream media have to blame something for what this market is going through.

Price up = Tether manipulation.
Price down = Tether on the brink of collapse.

What's new?

[Johnzky]

I would be pretty glad,if tether collapses.
One shitcoin out of the crypto markets=more trust in bitcoin (and the few stable altcoins,who still exist).
Tether is just a scheme,we don't need that "coin".I don't think that bitfinex really needs that coin to ease the process of converting USD into crypto.

I second emotion this sentiment as we know what tether is all about and what this brings to market.better those who holds this coin may sell all of them so this will bring the shitcoin dead.sorry for those who supports this coin but i am not one,and i hate shitcoins..right on that bitfinex can use other altcoin than usinh tether anymore.

[gentlemand]

my worry stems more from the fact that they keep losing banks. WTF are they gonna do when they've got billions of dollars in USD and EUR that they can't pay to their customers? also, if banks are feeling pressured not to work with them, you have to ask why and whether regulators are waiting to pounce on them.

What bank would want them? They're unregulated and largely a mystery. I find it incredibly arrogant on their part that they'd expect any bank to want to business with them. They're an instant red flag.

Having said that this Tether shit is ancient and they'll no doubt figure out some kludge until the next time. Meanwhile the same old conspiracy shite will go quiet and bubble up again at a later date.

I find it really weird how willing so many exchanges have been to embrace it. There's something about the entire set up that doesn't compute for me and never has.

[adaseb]

Basically think about it?

There are many people who use tether everyday, its even used by Poloniex still which is used by Circle.

If they banned it outright it would cause alot of huge losses for many investors, which is not fair. If it does get forbidden or banned somehow, I think there will be some convert USDT to USD or other stablecoin process and it will halt all USDT trading pairs for the time being.

Even when ICOs were shutdown, the government told the ICO founders to issue refunds.

Eventually however Bitfinex and most other exchanges will have to comply not to deal with these issues, however to do that they will need to KYC all their users.