Sooo about a year or so ago Tether ... FUD ...???? Dead according to so many???

[jubalix]

I recall so many threads about a year ago and over a considerable time full of so much FUD (not saying FUD is bad)


That tether was failed, scam etc.


How is it then that it still exists and seems to be working well ?

[asayoyaasa]

You know what mate, even bitcoin has died 351 times according to https://99bitcoins.com/bitcoin-obituaries/
My point is, there always will be some pessimistic person who doesn't believe in something and just want to mock it over and over again, I mean they bashing Tether without a solid reason though

[jossiel]

AFAIK the case that was filed against them is still on going and they are trying to make their name clear again.

It was the printing of $400M USDT.

[Yudhisthir]

One of the reason people called Tether scam because there was a rumor that Tether has no backup of fiat as they had stated in their whitepaper which Tether proved to be wrong. Tether is a fiat fixed currency with a dollar escrowed for every one token.

[Yaunfitda]

AFAIK the case that was filed against them is still on going and they are trying to make their name clear again.

It was the printing of $400M USDT.

If my memory serves me right, this is the accusations against them. Are they running on fractional reserves just like many banks do?

They don't want to be audited as well, that's why many have been calling them a scam.

So if the case is still running then obviously we can't say for certain if they are a scam or not, but for investors there have been a lot of red flags.

[hrunya102]

I think someone just so makes money, they use any available means, and did not think about other people.

[Script3d]

I recall so many threads about a year ago and over a considerable time full of so much FUD (not saying FUD is bad)


That tether was failed, scam etc.


How is it then that it still exists and seems to well working?

that doesn't mean the project isn't a scam, if this a project is a scam and it's still working well till this day that means there will be alot of victims, this will be probably like bitconnect but in another way, who knows when they will get exposed.

[jossiel]

AFAIK the case that was filed against them is still on going and they are trying to make their name clear again.

It was the printing of $400M USDT.

If my memory serves me right, this is the accusations against them. Are they running on fractional reserves just like many banks do?

They don't want to be audited as well, that's why many have been calling them a scam.

So if the case is still running then obviously we can't say for certain if they are a scam or not, but for investors there have been a lot of red flags.

It is still running and they haven't provided those certain information to make them clear. AFAIK, they don't have fractional reserves and those mint printing of USDT last 2017 was told to be a bubble due to this.

[qomariah95]

That was what happened a year ago. Because everyone never knows how this Tether is used. And now I have never seen anyone say that the Tether is a scam or a failure. Because Tether is now certainly stable because it affects the dollar or can be said to be equivalent to USD. So we never say altcoin or others scam or fail if we analyze it deeper.

[hyunee]

It was the printing of $400M USDT.

If they print this amount of money then it will be easy to them. But, is this allowed? In law, you can't create a currency of your own in your country, but in crypto you can create a virtual currency. For me, it contradicts the idea of that. Also, this Tether scam made bitcoin price go down at some point.

[mrdeposit]

Those who think like you are still not less. But, according to cmc, tether volume is 4 times more than total supply and this shows that many people trust. Lets wait a little more.

[Bitcotalk]

I don't think that kind of news should be something surprising to you, unless you're new in the crypto space and don't know how things have been going for quite a while now, we have seen a lot of people and even men that matters in the world called Bitcoin a scam couple of time, this FUD caused a dip in the price of Bitcoin and we discovered that this same people who went about calling Bitcoin a fraud were the same set of people who took advantage of the dip in the market and made profit of millions of dollars in few hours.

[bigcash2011]

That fud was mostly because usdt was not audited and most people accused usdt to be a ponzi coin without the backing of real usd or fiat and all these accusations and concerns were addressed when the audit was performed and it was found out that usdt is legit and is backed by usd that is held in bank account.

[Whosdaddy]

I don't think that kind of news should be something surprising to you, unless you're new in the crypto space and don't know how things have been going for quite a while now, we have seen a lot of people and even men that matters in the world called Bitcoin a scam couple of time, this FUD caused a dip in the price of Bitcoin and we discovered that this same people who went about calling Bitcoin a fraud were the same set of people who took advantage of the dip in the market and made profit of millions of dollars in few hours.

Well, I love when FUD is being created, especially from a top person, that is the point I love entering the market most and buy more of the coin if it experience short dump, because like you said, these same people are still the ones that will eventually cause its pump too in future.

If anyone has enough patience, then these type of thing should always benefit such person, because no matter how dip the price goes, overtime, they gradually create FOMO after people must have forgotten the dip, and make the price of the coin shoot up again so they can sell off those coins they but from a panic seller.

[d1ceplayer]

Who still pays attention to general FUD created by people, during that time, it was a strategy newly designed by whales to create panic sell, but as time goes on and people gets used to how things are being run in the market, I doubt if anyone still allow FUD seen on news decide for them.

It is not that I totally throw away any FUD news that I see online, but what I do is to make a further research myself to see if such news is not coming from someone who wants to play prank and cause dumping, before I decide if the news is worth acting on or not, I also make my technical analysis handy too.