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Question: Do you trust USDT?
Yes - 119 (69.6%)
No - 29 (17%)
Not sure - 23 (13.5%)
Total Voters: 171

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Author Topic: Do you trust USDT?  (Read 4067 times)
pragna
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September 05, 2020, 06:23:51 AM
 #261

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?

How i can say CMC number 3 position coin scam? Tether (USDT) is issued on the Omni, TRON, and ETH blockchains. I think the time is over now for that we can say USDT is scam coin. I made some transaction also with USDT by believing strongly. Yes, there somebody missed to USD and USDT but i think claver traders or investors must know about it and as a stable coin i think USDT future is very bright.

thanks.

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September 05, 2020, 01:56:47 PM
 #262

Of course all of them who taking negative about usdt, are not telling a lie! So it makes me confused about usdt whether i should trust it or not. But i didn't have any Trouble with it. Crypto industry is in bad condition after the bitcoin lost its price. Now usdt has stirred the industry by offering more stability in a volatile market, can safe crypto from price fluctuations.

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September 05, 2020, 02:35:40 PM
 #263

Of course all of them who taking negative about usdt, are not telling a lie! So it makes me confused about usdt whether i should trust it or not. But i didn't have any Trouble with it. Crypto industry is in bad condition after the bitcoin lost its price. Now usdt has stirred the industry by offering more stability in a volatile market, can safe crypto from price fluctuations.
bad condition? Are you sure? bitcoin may be in a downturn and the crypto market is experiencing that too but it's not as bad as you might think. for some, I think the current crypto market is potential. try to understand how this market works and you will benefit from it.

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September 05, 2020, 03:03:29 PM
 #264

Of course all of them who taking negative about usdt, are not telling a lie! So it makes me confused about usdt whether i should trust it or not. But i didn't have any Trouble with it. Crypto industry is in bad condition after the bitcoin lost its price. Now usdt has stirred the industry by offering more stability in a volatile market, can safe crypto from price fluctuations.
As long as it's not scam and you're fine with you shouldn't be concerned about the rumor and moreover you shouldn't fully trust this stablecoin too much like leaving your money in form of USDC for many years. Just use it as you need and you wont find any problem.
If they turns out to be a scam I'm sure there gonna be so many people chasing after them any way and be prepared for the massive sueing.

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September 05, 2020, 03:12:51 PM
 #265

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 Tethers are trusted asset and it's backed by US$ but  not all Tethers are 100% backed by US dollars. 
They're making money out of nothing. lol 

As what I also remember only BUSD is 100% backed by US dollar and you can ask them where to check for the verification.

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September 05, 2020, 03:50:28 PM
 #266

Tether is safe so we can avoid market risks and it is listed on most exchanges. It is a stable coin that people exchange most often.
Although tether has had many scandals, I believe it is still the best stable coin right now.

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September 05, 2020, 03:56:49 PM
 #267

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 Tethers are trusted asset and it's backed by US$ but  not all Tethers are 100% backed by US dollars. 
They're making money out of nothing. lol 

As what I also remember only BUSD is 100% backed by US dollar and you can ask them where to check for the verification.
How can you tell if BUSD is backed by USD? There are a lot of stablecoins in this market but most of them don't have enough USDT to support stablecoins, that's why we have so many FUDs in this market and always be careful with it.

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September 05, 2020, 04:05:17 PM
 #268

USDT happens to be the most popular stable coin in the space and this is also due to the fact that it holds the largest market capitalisation for stablecoin. They've been rumours that the issued coin doesn't represent the exact amount of that is held by the token in usd, but that's really not necessary because its impossible for everyone who holds USDT to convert to USDT at the same time. Since the project has been able to fulfil her obligations as it relates to holders, there's nothing to worry about.
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September 05, 2020, 04:10:12 PM
 #269

If something happens to USDT, it will affect all markets! Including all other stablecoins! That's why I haven't paid attention to talk about Tether... True, I don't keep my funds in it anyway! Grin

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September 05, 2020, 04:59:38 PM
 #270

Despite Bitfinex's problems with USDT, I think it is the most reliable and most widely used stablecoin. Since it works on many blockchains - Omni, Tron, Ethereum and EOS.
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September 12, 2020, 07:17:34 PM
 #271

Tether is certainly good, but the constant proceedings with the New York attorney general keep me on stress. Here's an example of the last thing found, September 14, will be meeting with them.
https://www.coindesk.com/nyag-court-bitfinex-loan

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September 13, 2020, 03:55:23 AM
 #272

I personally don't trust USDT completely, you don't need to trust anything before using it. I can see USDT points as a stable coin to switch to when the crypto market is volatile. Keep your ideas right about USDT simple. so, use stable coins as trading pairs and not for long term investments.

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September 13, 2020, 04:53:39 AM
 #273

I believe the Theter altcoin or USDT is one of the stable coins that can maintain its value in any situation. and I'm also not sure if the USDT is a scam. I like this coin because it is safe for investment or at least it can minimize investment losses.
Usdt just a good coin, Especially those who trade and can convert to usdt during crypto market dumping. Simply put, you can always use usdt to keep the amount of your capital stable. So i love it and eveytime usdt coin help me more.
USDT has indeed saved many traders from huge losses in the event of a market downturn. back then when not many exchanges listed USDT, day traders would trade with fiat currencies that are on local exchanges or with top market cryptos which cost a lot of trading fees. a stable asset like USDT is sure to be very trusted by day traders. it must have helped them a lot.
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September 13, 2020, 07:30:33 AM
 #274

I personally don't trust USDT completely, you don't need to trust anything before using it. I can see USDT points as a stable coin to switch to when the crypto market is volatile. Keep your ideas right about USDT simple. so, use stable coins as trading pairs and not for long term investments.

   HK88 you are right, USDT is good just as trading pair, and for times when prices
are declining, but just for some time, when price stop falling to buy sold coins. USDT
is not investment, it's a stable coin that has a dollar value, and that will stay like that.
   Construction and purpose of stable coins is not totally clear for me, I know it's issued
and distributed by centralized exchanges, and I don't fully trust them because of that
centralization. I have Kore trust in decentralized projects.



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September 13, 2020, 07:49:37 AM
 #275

That's right! You don't have to trust USDT to fix your money in it! But I know the guys who kept it for 2018-2019, and with any bad news about USDT they were very worried...
But still, in my opinion there is no worthy replacement for Tether yet...

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September 13, 2020, 08:25:09 AM
 #276

I have heard about rumors circulating like that for a long time, but to this day I have not found solid evidence that can clarify it, and because there is no solid evidence yet, there is a possibility that the issue is not true,
and in fact to this day USDT is a stable coin which has a market capitalization greater than any other stable coin.

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September 13, 2020, 10:01:44 AM
 #277

Of all the stable coin released Tether (USDT) is the most common widely used by traders now, though we can sense there are a lot of shady things going on with Tether.  So it's up for us to decide if wether to trust Tether or not. For now, they have done a good job of staying stable. But that could soon be reversed. So just be careful in putting money on it.

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September 13, 2020, 10:42:17 AM
 #278

Stay away from Tether and Bitfinex. I have read an article that says that in November finally problem with Tether will be solved. What does it mean for cryptocurrencies? No one knows, but when you look where is the biggest USDT volume, you find out that Binance and Huobi exchanges will be the most affected crypto exchanges.


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mindrust
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September 13, 2020, 10:51:42 AM
 #279



This is the undeniable proof that shows how retarded this space has become.

When Bitcoin goes moon next time and whoever buys it above its last ATH will suicide in masses.

Tether MC is now $14.7b. Another ~$500m was printed in the last few days.

GoxV2.0  loading.

What is even more sad, some people think these manipulative moon shots are good for bitcoin.




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September 13, 2020, 10:56:57 AM
 #280

I'm confused with that they how they maintain the prize of this USDT to 1:1 .
By the way It's  very complicated to answer this question. Although it is the best coin for transaction i would prefer it for not to hold.
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