Do you trust USDT?

[Wingo]

USD Tether is a Bitfinex issued ERC-20 token which is claimed to be backed by dollar at 1:1 ratio. There are controversial opinions about this and some say it's a scam.

Do you trust USDT or believe it might be a scam?

USDT is not fully backed by USD. I'll trust BUSD more it is fully regulated and is 100% backed with fiat USD. But we cannot call USDT as a scam, it is still legitimate. Like any other stable coin, it is used by many traders to preserve the value of their holdings whenever the market goes down.

[velive08]

USD Tether is a Bitfinex issued ERC-20 token which is claimed to be backed by dollar at 1:1 ratio. There are controversial opinions about this and some say it's a scam.

Do you trust USDT or believe it might be a scam?

USDT is not a scam, yes I trust this coin. currently USDT is one of the best coins out there, it is one of the stable coins used by many people today. So I thought why don't we trust USDT nowadays.

[maximumcoin]

USD Tether is a Bitfinex issued ERC-20 token which is claimed to be backed by dollar at 1:1 ratio. There are controversial opinions about this and some say it's a scam.

Do you trust USDT or believe it might be a scam?

I suppose that there will be not fair if say that USDT is a scam project. If it is a scam , why many people and almost the exchanges still recognize and use it. The bottom line that lead community think it scam is collateral behind it is not yet transparent. I believe this thing will be clear in the  near future.

[WalkerIVIV]

Is a bit risky holding it but from the way i see it I think is already used in many exchanges and is like the most dominant crypto stablecoin out there Personally I think having those strings and holding positions make it a coin to be relied on for now.

In my opinion if that was not giving any risky to the holders as the price was fully pegged with the dollar. It has big volume and all exchange sites were also accepting it too.

Only those who are feeling skeptical said this is a scam coin but it doesn't mean those who are saying like that was not using USDT. This is a reliable coin to be used to avoid the volatile.

[NoG-NoG]

As long as the coin is stable and not making some irregularities then for me I can give my total trust like what I am doing regarding USDT. It is one of the altcoin that I have a high trust with because it is one reliable and consistent coin in the market for a long time.

[_IRMAN]

So far I have trusted USDT because I can secure my assets from high price fluctuations, because a stable USDT price is unlikely to go down much.

[Tipstar]

As George Martin said with the mouth of Varys, the power "Power resides where men believe it resides".
Similar is the case with Tether, even though people know they have issues, almost all of the exchanges use it as the default stable coin and it's currently the most traded crypto ahead of bitcoin and ethereum. Their valuation is close to Ripple's total market cap and no one knows how and how far they would grow. Until people believe in it's price, it would hold it's price.

[Phoenix_PROG]

USDT is far from scam and it's gaining more ground in crypto space through regulations, I trust this stable coin and again I don't plan to use USDT to store large amount of money or hold for too long, the highest I hold is just two months

[Estehmanis]

yes I believe , even usdt is coin love and i believe he is stable reason , i often take usdt to trading and i am very comfortable with his prices are stable

[Xembin]

USDT is more stable than any other crypto. Whenever you are marketing altcoin that is actually USDT, is more preferable for trader to purchase their coin that suit them.

[Andrews193]

So far I have trusted USDT because I can secure my assets from high price fluctuations, because a stable USDT price is unlikely to go down much.

Not only will it ensure your assets can become safe, it will even ensure that you can have a relative return like other cryptocurrencies as long as you hold it, this has been recognized by everyone for a long time and believes in USDT is a very normal thing but it takes two conditions to gain that belief. First, the crypto market needs to continue to develop in a good direction, besides, the developers and corporations behind USDT need to be sustainable over time, these are two indispensable conditions for us to believe in USDT

[unusualfacts30]

from what I have seen in past years it has been quite stable so it serves its purpose as a stable coin. Obviously, you don't want to hold usdt for too long either but as far as I am concerned it is safe for converting alts to usdt when you are unsure of the market movement.

[Convery]

Bitfinex is one of the most controversial exchanges at the beginning. They are not as transparent as Binance so I wouldn´t be surprised if Bitfinex ends up catastrophically. Some of the banks already closed their accounts. 

[emmaglory5]

No currency is completely trustworthy, that includes the legit currency we're using. But USDT, also some of stablecoins are trustworthier than the extorting cryptocurrencies

[Dollar_Hunter]

Bitfinex is one of the most controversial exchanges at the beginning. They are not as transparent as Binance so I wouldn´t be surprised if Bitfinex ends up catastrophically. Some of the banks already closed their accounts. 

What do you mean? we are talking about USDT why talking about Bitfinex? Are USDT and Bitfinex related?
USDT is still used on top exchangers so I think if Bitfinex ends up being a scam, USDT will not get the effect

[Febo]

No currency is completely trustworthy, that includes the legit currency we're using.

Monero and Bitcoin are fully trustworthy to me. Its code is open source and anyone can check it if it have any backdoor.  It is permissionless and decentralised.  Yes there can be bugs and value can go to zero. So the risk exist.  But trust the is there.  

[GWS My Boy]

USDT is one of the most popular stable coins nowadays because the price follows the USD currency, USDT pairs are many in every market small and large
maybe from that factor that made me believe in USDT

[suvo05]

Currently the daily market volume of USDT is much higher than the BTC, soon it will go past the total XRP market volume, and in upcoming days ETH even BTC also. I have no doubt that the coin can play a vital role in the whole crypto coin market in the upcoming years.
But coming back to the OP's question how much trustworthy is it? I don't have too much technical knowledge and I have some questions regarding the trustworthiness.
1. Does Bitfinex still have total control over the coin?  
2. According to coinmarketcap Bitfinex has 0.04% of the total coin in their exchange, what will happen to the remaining USDT if the exchange goes down from the next day?
3. What are the possible cases that the USDT value could somehow decrease?
 

[pikkie]

yes I believe , even usdt is coin love and i believe he is stable reason , i often take usdt to trading and i am very comfortable with his prices are stable
of course the USDT price will be stable because the price movement depends on the USD so if you look at the USD only has very little price movements and the effect on USDT the price is still in place, so USDT can actually be used for long-term investment because of its price stability.

[int03h]

Tether has the protection of bank assets so it won't fall apart easily. Compared to other stable coins, Tether has many audit-related scandals and they have passed. I think Tether is still very trustworthy and I love tether like many other traders.