will tether collapse?

[exstasie]

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.

Obviously they've been doing it for years now. There's thousands of banks out there; apparently some of them are less risk averse than you.

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.

Binance became the biggest exchange in the world without any fiat money processing at all. There's definitely some appeal in offloading USD custody on someone else. If Bitfinex goes up in smoke tomorrow, it's not Binance that'll lose, but Binance's USDT depositors.

[xfaqs01]

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.

might be, but eventually the collapse might happen gradually or slowly to the extent that we woke up someday and suddenly tether becomes worthless. nah i dont wanna wait that when it happens, weve been warned though, so we better be prepared then and diversify our portfolio

[naidray]

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?

I still do not understand what tether is and how it could be printed out all of a sudden into existence without any of us agreeing on that being dollar at all. I think tether is just a way exchanges makes money off us and that it, nothing more. Does it have a proper use ? Yes, it does, it definitely works great if you would like to keep your money in the exchange and not just make it into dollar to cash out but just to trade, specially for trading bots. But do we need a token for it ? Can't we just literally use dollars for it, banks do not give us any tether at all but we know we have dollars in our bank accounts, why can't the exchanges do the same ?

eventually the collapse might happen gradually or slowly to the extent that we woke up someday and suddenly tether becomes worthless. nah i dont wanna wait that when it happens, weve been warned though, so we better be prepared then and diversify our portfolio

Tether is part of your portfolio ? I just wonder for what purposes you are holding them ? I simply want to ask do you hold your fiats as part of your portfolio ? But I am not. At the same time, very much similar to fiats, I am making use of tethers and settling across exchanges has become easier for me just due to tether and I do not want it to get collapsed.

[BrewMaster]

despite what people think, Tether is the worst altcoin of all times with the highest risk. but 99% of the time whenever you read something about it online it is posted purely to spread FUD and nothing else. and majority of them aren't even good FUD! they are the dumb ones. and i think they are one of the reasons why Tether got this big! because they hide the real issues with their nonsense which people eventually figure out and when they do they think the real issues were just as nonsense!

[1Referee]

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.

You know what's weird? Poloniex has done nothing but lick asses of regulators and other legal entities, but also has done nothing to even question how potentially harming Tether could turn out to be for their operation. If I was a regulator, I would have forced Poloniex to get rid of Tether, or else not be granted approval for takeover at all.

It was their chance to replace USDT with an actual fiat pair, but they failed hard. Look at Poloniex now, what's the added benefit of that exchange? It's just a waste of resources with no possible way to regain its old full glory top tier status as exchange. $400 million disaster.

[aqila baruroh]

Cryptocurrency is filled with news like that, if you easily believe in the news that has just appeared you should not be here. vigilance does not mean not believing, but you must find out the truth.

[gentlemand]

You know what's weird? Poloniex has done nothing but lick asses of regulators and other legal entities, but also has done nothing to even question how potentially harming Tether could turn out to be for their operation. If I was a regulator, I would have forced Poloniex to get rid of Tether, or else not be granted approval for takeover at all.

It was their chance to replace USDT with an actual fiat pair, but they failed hard. Look at Poloniex now, what's the added benefit of that exchange? It's just a waste of resources with no possible way to regain its old full glory top tier status as exchange. $400 million disaster.

They've introduced their goldmansachscoin there now, but USDT is still the main game in town on there. I presume they're going to attempt an orderly transition but whatever customers they have left there may well resist unless that coin is taken on by a bunch of other places otherwise it'll just be Poloniexcoin.

It is v strange that they didn't immediately boot USDT considering its parentage now.

[figmentofmyass]

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.

You know what's weird? Poloniex has done nothing but lick asses of regulators and other legal entities, but also has done nothing to even question how potentially harming Tether could turn out to be for their operation. If I was a regulator, I would have forced Poloniex to get rid of Tether, or else not be granted approval for takeover at all.

i'm not sure there's a legal basis for that. that might just be the beauty of stablecoins---regulators really only have legal standing against the issuer/redeemer. that's why the USA government came after ripple labs but never any exchanges that listed XRP.....because ripple laps was the issuer.

exchanges like USDT because it's liquid: they easily can bootstrap markets. trying to launch real fiat markets is probably a liquidity nightmare.

[pooya87]

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.

You know what's weird? Poloniex has done nothing but lick asses of regulators and other legal entities, but also has done nothing to even question how potentially harming Tether could turn out to be for their operation. If I was a regulator, I would have forced Poloniex to get rid of Tether, or else not be granted approval for takeover at all.

i'm not sure there's a legal basis for that. that might just be the beauty of stablecoins---regulators really only have legal standing against the issuer/redeemer. that's why the USA government came after ripple labs but never any exchanges that listed XRP.....because ripple laps was the issuer.

exchanges like USDT because it's liquid: they easily can bootstrap markets. trying to launch real fiat markets is probably a liquidity nightmare.

it is not just liquidity. it is also about all the problems that will come with using fiat. for a fiat market they will have to rely on banks, banks that can be friendly to them now and when their account grew close it down because they had a change of heart about cryptocurrencies (eg. Indian Reserve bank). not to mention the AML/KYC that they are forced to follow and that may mean losing a large number of their users.
it is also the speed. fiat deposit/withdrawals will take a lot of time whereas tether is like any other crypto. it will be fast.

[signup01]

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?

in my opinion the development of cryptocurrencies depends on the investor itself interest and desire will be the development of the currency if as a guideline is the dollar I feel has become a global currency of course cryptocurrency

[Oleg88]

Today there is a high probability that Tether collapsed. Now its price is already 1.11 per pair TUSD / USDT. I think it's all about the bad end

[cryptomining]

True Usd rose to 1.16. Binance will leave the tether and go to True Usd. If that's the reason, it's not really real.

[Oniko]

Cryptocurrency market is very unpredictable! Now we got + 10% for 1 hour.

And what if we get plus 100% for 1 day!? The market will revive again and everyone will start investing their fiat money in Bitcoin

[Sadyshagg]

Lots of post are saying that Tether (USDT) might be insolvent and everyone was bailing out of it into Bitcoin.
Be careful out there guys, lot's of misinformation is getting spread across social media.

[X-ray]

True Usd rose to 1.16. Binance will leave the tether and go to True Usd. If that's the reason, it's not really real.

Or that will be a short term hype and there will be a lot of people will try to jump back again to the tether, the majority of tether holders have been dumping their tether for bitcoin and then convert it into TUSD.
In the latest news said that there was a lot of new volumes come to the crypto market right now. Bitcoin is still trading with 6 billions daily trade volume.

[jeda2000]

After recent events, Tether has lost a lot of confidence, so it's more helpful to subcoin or bitcoin it with more confidence than to keep your money here. Also stay away from other coins claiming that they set out to combat inflation

[jeanniej4]

The possibility of tethering going down is enormous, because essentially it is a real money alternative to the USD as its developers have said.
In addition, tether can be made too much and unreasonable, causing its price to become unreasonable and diminishing - just like today happened on bitfinex.
The current tether is like a balloon that is inflated and can explode at any moment.
So I think staying away from Tether now is a wise move.

[Cnut237]

The question of whether Tether might collapse has been going on for years, and the answer is that no-one really knows. It could collapse right now or it could remain steady for many years.
However the key consideration as with any stablecoin is that it is not 100% safe. For short-term trading purposes it may function as an equivalent to fiat, but long-term it is much more of a risky proposition.
I would say only use Tether when you have to or in the short-term, e.g. if the whole market is dropping.
And never keep money as Tether for a long period of time.

[Lhaine]

The question of whether Tether might collapse has been going on for years, and the answer is that no-one really knows. It could collapse right now or it could remain steady for many years.
However the key consideration as with any stablecoin is that it is not 100% safe. For short-term trading purposes it may function as an equivalent to fiat, but long-term it is much more of a risky proposition.
I would say only use Tether when you have to or in the short-term, e.g. if the whole market is dropping.
And never keep money as Tether for a long period of time.

Actually some of people here saying that tether will be collapse for many years and some of them are thinking that it might be die. Honestly hard to believe because we all know that everything is possible and crypto is unpredictable.

[opv321]

Buy tether, if it goes back up to $1, garuanteed profit. If it falls to $0, all the value went to bitcoin and you've helped move bitcoin price.