The World’s Most-Preferred Cryptocurrency Isn’t Bitcoin

[coolcoinz]

Is tether even a cryptocurrency in the full meaning of this word?
It's centralized and can be made up whenever its owners choose to.
It was supposed to be pegged to the dollar 1:1 but is not. In reality a lot of it is made out of thin air.
It's called a stablecoin for a reason. These coins aren't made to function on their own. They offer a way to exit to something that is meant to simulate the dollar to people who for some reason cannot use the dollar due to lack of licenses or something else.

Like others said in this thread: no BTC = no USDT. The only use of USDT is to make trading BTC easier. Without BTC there won't be a reason for it to exist.

[Paecga129]

That's a lie. Bitcoin is the most preferred and famous and accepted cryptocurrency all over the world, by a large margin.

[Mpamaegbu]

OP, there's a reason Bitcoin dominates the market with a whooping percentage. 70% is no mean feat. I know a lot of people will wish this data is anything to go by just so they see Bitcoin relegated. Well, from the look of things this isn't going yo be any time soon.

[kryptqnick]

I don't buy this info about Tether. I mean, yeah, it is a widely used 'cryptocurrency', that's true. But, as some other people have already mentioned, remove Bitcoin and there won't be that much of Tether left. And the Tether that will remain still would not mean much. Tether is used instrumentally, as an intermediary between fiat and cryptocurrencies. And it's used specifically for trading because it's useful to have a coin with a very stable price in a trading pair. It's not a coin that's getting adoption in other areas, even though some could also benefit from its stability. But tether is a very risky project. They used to say each coin was backed up by one dollar. Then they said that it's backed up with something valuable. But it might turn out to be backed up by nothing but hype! And in this situation, it can collapse at once, which is something that would not happen to an actual decentralized and not a fiat-based cryptocurrency like Bitcoin.

[judeafante]

Nope it's never my option to hodl Tether I have nothing to do with a stable coin whose functionality depends on Bitcoin, like all the others are saying it is Bitcoin dependent nothing more than that and will stay that way, all my newbie friends are asking me about these stable coins and I always say forget it, it is Bitcoin dependent, there's a lot of coins out there with usage.

[irixo10]

You are right with your analysis, but let me ask you, how many coins can you trade Tether with? In every exchange you have the highest opportunity to trade Bitcoin with whatsoever coins you want, while Tether on the other hand is only used to hedge funds, that's for traders. So apart from using Tether to hedge funds what other use does it have? How many coins can be traded with it? Just few. Till years to come, Bitcoin will remain the top and most preferred cryptocurrency.

[Eugenar]

If we are going to look at the reason why some traders including me uses tether, that is because tether is a good stable coin that can be good to pair with BTC. For example, if the market price of bitcoin is downtrend, we sell BTC and buy tether in a sense that we need to save the value of our bitcoin, in which is we preferred right from the start, not the tether. The title best suits to be, tether: The most used trading pair to bitcoin (BTC/USDT). We, traders, aren't investing on stable coins, we want profit.

[bgaf]

I dont want to be bias but he got a point  Tether is traded also in most exchange and will probably have a consistent and stable price since it is pegged and known to be USD in our term of currency but in digital form. Meaning it will be based on price of the USD, but what it makes me wonder is why the hell they made stablecoin for. I guess to balance the marker trading for cryptocurrency. That's its only purpose so btc will always be the great innovation ever added in world.

[jazmuzika217]

Honestly for me bitcoin is still the king even if it's price is continue to fall time will come that bitcoin will recover and steal the crown again as king of all coin. All we know that all here in crypto world ia temporary so be ready of every possibilities specially in change of price value quickly and regularly.

[tsaroz]

Even if the volume of Tether overtook bitcoin, we still can't call it the preferred crypto. Though there is a small number of people that are attracted by the interest provided in the stablecoin no trader or investor would prefer to keep their money in stablecoin. If they were, they wouldn't be exchanging it from fiat.
Tether might be the universal stablecoin at the moment but they are slowly losing their grounds with the introduction of new stablecoins.

[meanwords]

Before I even click the link...Coinmarketcap data?
Bingo, what else!

Now, before anything stupid gets posted here:

Checking the pairs usdt is traded against by volume and exchanges, the first 10 and 19 out of 20 are USTD/BTC.
So...no BTC...no tether!

Second, just because some shady exchanges inflate their trading numbers this doesn't make tether the "world" most preferred cryptocurrency. When tether will have as many shops accepting only tether as bitcoin does, then it will be.
Till then, it's just another shitty stable coin.

And yeah, a website ranked on the 250000 place in the world by traffic is doing 600 million $ in volume.
Legit!!!

That's what I thought so too. There's no way that a shitty stablecoin like that would beat bitcoin in cryptocurrency usage. Like there must be something fishy about it. In my experience, Bitcoin is still the number cryptocurrency that merchants accept. I don't see any tether in most of the shops I know. Even online games accepts Bitcoin now.

At this point, we all know that coinmarketcap data is inaccurate.

[pinkliar]

Even if the volume of Tether overtook bitcoin, we still can't call it the preferred crypto. Though there is a small number of people that are attracted by the interest provided in the stablecoin no trader or investor would prefer to keep their money in stablecoin. If they were, they wouldn't be exchanging it from fiat.
Tether might be the universal stablecoin at the moment but they are slowly losing their grounds with the introduction of new stablecoins.

tether can be only use online as stable coin and nothing more to offer so i ithink is gonna hard for them to make it a main crypto currency . other than that this is only build in eth platform not even have there own blockchain .

[litepool.ru]

Without bitcoin, Tether will not be needed. So I don't think that's really the case

Exactly. Without BTC, this market could not exist and USDT also does not make any sense. USDT only supports people coming to bitcoin faster

[bitkanu]

Without bitcoin, Tether will not be needed. So I don't think that's really the case

That's true and without tether's claim if that is fully backed by dollar to give tether the stable value and we will never need tether. But its claim has already used to fool so many people and this time the company is doing whatever they wanna do even to issue more and more tether anytime.
Tether is also getting its value from its fake claim to be fully backed by fiat and then changed it after so many people have been fooled by tether company.

[Winscosinally]

Bitcoin which weighs around 70% of all computerized resource world's reasonable worth was whipped by Tether which presently reigns as the most utilized cryptographic money in the advanced market exceptional.

In flunky's fund market reports and consequences of any exchange and volumes are elusive in any outlines present on the web.

An as of late announced information from CoinMarketCap.com shows Tether having the most elevated volume in both day and month to month exchanges, Yet Tether has multiple times littler market upper casing, But in April Tether took over Bitcoin for having a higher exchanging volume and has Increased from that and has been stretching around $21 Billion every day, seen toward the beginning of August.

Tether is presently right now exchanging at $1.01 USD and has a ROI (Return on Investment) of 0.52%, It has a Globally assigned position of #4. It has a market top of $4,129,600,377 USD, it has an all out inventory of 4,207,771,504 USDT . Tether has an identical estimation of 500,902 BTC in Bitcoins. In the present month Tether's exchanging volume was 18% more than that of Bitcoin, which imprints tie as a significant coin and resource in the digital currency biological system.

News Source: TheCoinRepublic

Do not compare stable coin with non stable coin, even if tether have biggest market cap this doesn't make it better than bitcoin, i guess many traders favour tether than other stable coins and they prefer is because its the oldest, without traders stable coin will be useless now that many exchanges have fiat access on their platform

[Rikotin]

Am I stupid to say that the best cryptoqurrency is bitcoin?
Am I wrong to see that bitcoin has ever reached the price of $ 19.5k?
Is cryptoqurrency stable one of the most preferred coins in the world? (Tether)
yes ... I hope you can judge from this basic aspect.

[bitsurfer2014]

Without bitcoin, Tether will not be needed. So I don't think that's really the case

That's true and without tether's claim if that is fully backed by dollar to give tether the stable value and we will never need tether. But its claim has already used to fool so many people and this time the company is doing whatever they wanna do even to issue more and more tether anytime.
Tether is also getting its value from its fake claim to be fully backed by fiat and then changed it after so many people have been fooled by tether company.

Currently Tether may have surpassed Bitcoin's trading volume due to many traders and holders using it to mitigate Bitcoin's somewhat downward fluctuating value right now thus protecting their portfolios to its volatility. Yet, should the bullish market commence once again, I would assume it will trigger a signal for holders to convert their Tether into Bitcoin and should propel Bitcoin to regain its spot in crypto markets once again.

I would also like to point out that Tether did overtake Bitcoin in terms of trading volume but this is only across exchanges and not about real transactions occurring across its ecosystem. Also, Tether's volume could be manipulated to influence the perception of other people on Bitcoin's dominance! In terms of mass adoption, Bitcoin still is the king and not Tether which is mostly confined within exchanges and not across the real world so that we can safely say that Bitcoin is still the "preferred" cryptocurrency! Imho.

[mr_random]

Without Bitcoin, the existence of Tether doesn't matter for the crypto traders. The high volume on the Tether is related to the bear market and the profit realization accelerates the daily turnover of stable coins. The 4th place of the most-preferred stable coin has an association with the high volume by the big exchanges which preferred to give a higher ranking for the specific stable coin.

[pandanaran]

as we know that Tether is one of the stable coins and they only focus on the financial system but not decentralized. so the rise in the price of a coin is centralized depending on the value of the dollar. so if someone compares a stable currency with bitcoin, the difference is very clear. I think the answer is that bitcoin coins are preferred by all traders.

[NathanJB]

Another issue-peddling, eh?

I have yet to hear someone who tells me that he prefers Tether more than Bitcoin. If somebody tells me that, I will be torn between ignoring him completely for life or get angry at him and lectures him about why Tether is a speck of dust as compared to the giant Bitcoin. I cannot see anything good with Tether except that its value does not lost much. Well, that is its purpose, anyway. Other than that, no more.