DO NOT TRUST TO TETHER

[FanEagle]

Tether getting bigger every day but it doesnt mean you can trust them.
Im not gonna say tether developers are scammer but tether could be fall very hard by Central bank mafia, Money Landing is a good Excuse for Central Bank to freeze tether money account.

I have told this to people countless times but they ignore me. Tether is run by a company, company that is run by people. I do not like it when things are centralized like this and I have been involved with crypto for more than 7 years now, I have seen plenty of high level stuff becoming a scam by saying "we got hacked", they always get away with it by saying "we got hacked" it has been the defense of every single exit scam in the entire crypto history.

Of course that means if Tether decides that they "got hacked" one day, they will be capable of running away with billions of dollars and there is really not much we can do about it. Which is why as long as it is centralized I will not trust any stablecoin ever, not just tether but no other stablecoin neither since none of them are ever decentralized.

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[MCobian]

I think the same thing that Tether cannot be 100% trusted, because there is a great power controlling it. Especially this tether
are very prone to scams occur, with very large volumes not a safe guarantee. Like banks in the real world, tether can also fall
suddenly one day. In conclusion, tether should be used only for pairing trading, not to make storage. Something that is centralized
very prone to scams, therefore I believe in bitcoin more because it has been proven decentralized.

[BitcoinTurk]

I have already stated my various thoughts about Tether in both Turkish and global topics and emphasized that it is definitely not a reliable cryptocurrency. Here again, I would like to say that although Tether is reaching more trading volume every day, it is definitely not a reliable cryptocurrency and Tether is the most important factor in many global investors' reasons for not relying on the cryptocurrency markets.
In addition to these thoughts, I would like to add a translation of the message I wrote about Tether in Turkish here;
'' Although the USDT (Tether) is getting stronger day by day, I think that it will lose its dominance in the market someday because many investors do not trust this project even if they are using USDT (Tether). Besides, even though there is no money supply in the market, I do not believe that there is a reserve of $ 10 million. This project, which has already created serious confidence problems in the reserve, will dominate the market for a while, but unfortunately, my expectation is that this dominance will not continue. In addition, it should not be forgotten that to comment today, USDT (Tether) has become the leader of the crypto money markets in terms of transaction volume. ''

[mersal]

Monopoly on centralized crypto currencies is happening in the form form continuous tether printing, this is really bad in long term that is why people are advising about holding tether on you wallet, since it is not supposed to be a coin for holding and we are losing portfolio value by holding the stable coins.

[Becky666]

Most of my coins are not in tether because of their reputation in cryptocurrency industry, the government could easily have their ways to crumble them within some few minutes. Personally, I won't advise anyone to hold their portfolios in tether because the government are not involved in this coin existence, so, they could easily get the coin off it track. I for one don't trust tether for a bit and won't do likewise to other stablecoins.

[Sebas.tian]

Tether getting bigger every day but it doesnt mean you can trust them.
Im not gonna say tether developers are scammer but tether could be fall very hard by Central bank mafia, Money Landing is a good Excuse for Central Bank to freeze tether money account.

You're right mate, the government will do such in a short time base in their nature of approach to cryptocurrency. They have attempted to can Bitcoin and wasn't able, so, they are likely to attack this stablecoin. We all know that, the dollars belonged to the United States government and they can act to it. Keep your coins far from this coin if you want to be safe while holding your portfolios. The Central Banks won't take it easy on these coins when time come, any action taken right now will save your actions against the bad days to come.

[7788bitcoin]

Im not gonna say tether developers are scammer but tether could be fall very hard by Central bank mafia, Money Landing is a good Excuse for Central Bank to freeze tether money account.

It is a known fact that the team is not that transparent with the holdings and hope you meant money laundering and it is possible that it could happen and if the authorities start to freeze their assets then the fall will be not that great as the entire market will come down along with it. I am using tether for short term holding of funds while trading but i wont trust them to hold for a longer period.

[serjent05]

I dont think USDT can be shutdown by government because its running on blockchain.

They might not be able to shutdown down USDT (the token), but they can definitely shut down Tether (the company), or Bitfinex/iFinex (the parent company). Doing so would cause thousands of USDT holders to immediately sell, which would cause a bank run and the value of USDT would plummet, since it isn't actually backed up 1-to-1 at all.

If you are looking for a trading pair with bitcoin, I don't have much faith in any stablecoin, but Tether is the worst of them all. Much preferable to just trade to actual fiat if you can.

Not only holders will sell but rather it will cause the tether community into disarray.  We have seen an example of this kind of event when the lead developer/CEO  of the Centra Project was put to jail, the whole market collapse, and the token become worthless.  The same thing will happen to Tether if that happens.

I would do the same and not trust all stablecoins since they have no difference.  I would rather trade in actual fiat at least I am sure that I am holding the one that has "real" value.

[mk4]

If you are looking for a trading pair with bitcoin, I don't have much faith in any stablecoin, but Tether is the worst of them all. Much preferable to just trade to actual fiat if you can.

Unfortunately Tether has the most liquidity in exchanges, significantly higher liquidity compared to even real USD trading pairs so most traders would be geared towards it by default.

I'm personally fine with trading Tether though, but one thing's for sure, I wouldn't damn to hold that crap for more than 24 hours.

[meanwords]

Most of my coins are not in tether because of their reputation in cryptocurrency industry, the government could easily have their ways to crumble them within some few minutes. Personally, I won't advise anyone to hold their portfolios in tether because the government are not involved in this coin existence, so, they could easily get the coin off it track. I for one don't trust tether for a bit and won't do likewise to other stablecoins.

I don't get why people hold tether anyway. It's not like it's going to moon like other cryptocurrency. At this point, it's better holding real fiats than holding tether. I personally only use it to be the medium of exchange for other cryptocurrency because of its volume and liquidity but that's it. The first thing I saw when I googled "Reason to hold tether (USDT) are reasons to discard it.

[Sourhearrt]

DAI stablecoin is the best stable coin, can't be freeze or reclaim and also it's fully decentralized but USDT has the highest marketcap but still I'd prefer DAI of I'm planning to hold stablecoin for a long time

[andra73]

I don't get why people hold tether anyway. It's not like it's going to moon like other cryptocurrency. At this point, it's better holding real fiats than holding tether. I personally only use it to be the medium of exchange for other cryptocurrency because of its volume and liquidity but that's it. The first thing I saw when I googled "Reason to hold tether (USDT) are reasons to discard it.

seems different in certain situations. I hold Fiat for every trade that I start every day. it's safer than storing altcoin which can lose its value at any time. the list of exchanges is very much. we can choose to convert them to any asset. almost all exchanges have it. this is not a matter of profit nominally, but we can see a better function.

[mk4]

DAI stablecoin is the best stable coin, can't be freeze or reclaim and also it's fully decentralized but USDT has the highest marketcap but still I'd prefer DAI of I'm planning to hold stablecoin for a long time

Though while at least DAI is unconfiscatable(at least for now), it's no way fully decentralized. I mean, the MarkerDAO project has a centralized team of developers. The team still solely makes the decisions. And not to mention that the stablecoin could potentially be debased by huge black swan events. Their sort of "loan-backed" system definitely also has it's problems.

[bukham88]

in the world of cryptocurrency investment, there is no safe, because the rise and fall of coin prices are determined by market demand, so if there is a lot of market demand then the price will be relatively stable and continue to increase.

[michellee]

in the world of cryptocurrency investment, there is no safe, because the rise and fall of coin prices are determined by market demand, so if there is a lot of market demand then the price will be relatively stable and continue to increase.

That is right. As long as we know how to minimize the risk and prevent big risk, I think that will be fine for us. And if you don't trust Tether, you don't have to use Tether because there are many stable coins you can select. But remember, every stable coin will have advantages and disadvantages, so you need to search for yourself.

[slashz9]

I have been advocating for the non-usage of stablecoins in general(probably besides when you're daytrading) for a while now. A lot of people are so unaware of the risks they're taking when holding most stablecoins.

Topic: PSA: Most Stablecoins Can Be Frozen, Even When in Your Own Wallets https://bitcointalk.org/index.php?topic=5204055

but in fact people still use it because some people do daily trading and will exchange to stable coins if you are waiting to buy, come on you have to take risks if you want to cross the river.

[Google+]

in the world of cryptocurrency investment, there is no safe, because the rise and fall of coin prices are determined by market demand, so if there is a lot of market demand then the price will be relatively stable and continue to increase.

That is right. As long as we know how to minimize the risk and prevent big risk, I think that will be fine for us. And if you don't trust Tether, you don't have to use Tether because there are many stable coins you can select. But remember, every stable coin will have advantages and disadvantages, so you need to search for yourself.

well indeed there are still other pairs of trading but when using usdt can be used to make transactions throughout the world with very cheap and fast costs even some local exchange places are available usdt pairs so in my opinion there is no harm when using usdt for trading and transactions it's just still be vigilant because everything has its own risks.

[riso2015]

but in fact people still use it because some people do daily trading and will exchange to stable coins if you are waiting to buy, come on you have to take risks if you want to cross the river.

True, many traders use stable coins only for daily trading, I personally still often use Tether when trading. And I think that's okay. Stable coins like Tether often used to maintain the value of assets, some people don't like to take risks with volatility Crypto prices so they choose stable coins.

[so98nn]

I have been advocating for the non-usage of stablecoins in general(probably besides when you're daytrading) for a while now. A lot of people are so unaware of the risks they're taking when holding most stablecoins.

Topic: PSA: Most Stablecoins Can Be Frozen, Even When in Your Own Wallets https://bitcointalk.org/index.php?topic=5204055

This could be really disturbing for those who are not aware of the fact that these coins can be frozen at anytime.

This literally means that it has backdoor control over the funds that are in your wallet. Meaning they are kind of centralised one and legally can seize your money if they wish to. Due to the fact that stablecoins are backed up with US dollar they are having little legal backbone.

Even articles says that they can wipe out the frozen wallet completely thus diminishing all the proofs you had, like you were holding xyz amount in your stablecoin.

Considering such ability its one of the terrifying fact that one should be very much careful while investing and rather holding in the form of stablecoin.

[bitbollo]

Tether getting bigger every day but it doesnt mean you can trust them.
Im not gonna say tether developers are scammer but tether could be fall very hard by Central bank mafia, Money Landing is a good Excuse for Central Bank to freeze tether money account.

Absolutely agree with you. But I want add more since there is not the problem with "Central Banks" but also with their Terms of Service (TOS).
I mean using a service that has a TOS it's very risky.
Likewise I have serious difficulty to accept some sentences like:
https://tether.to/legal/

The Site may suspend or terminate the Services to you, your Digital Tokens Wallet, or to any of your Digital Tokens Address at its sole discretion, as required by applicable Laws or where Tether determines that you have violated, breached, or acted inconsistent with any of these Terms of Service.

You acknowledge that Tether may delay or suspend redemption under various circumstances, including but not limited to, in the event that Tether determines that you have engaged in a Prohibited Use (as defined in paragraph ; when Tether is directed to do so by any Government; if your Digital Tokens Wallet or other account or wallet is subject to pending litigation, investigation, or Government proceedings; or when Tether believes that someone is attempting to gain unauthorized access to your Digital Tokens Wallet or other account or wallet.

have more than one account and more than one Digital Tokens Wallet on the Site, or use any Digital Tokens Wallet on a one-time, ‘throwaway’ basis; any such additional Digital Tokens Wallets or one time ‘throwaway’ Digital Tokens Wallet may be terminated or suspended at the absolute discretion of Tether;

violate, cause a violation of, or conspire or attempt to violate these Terms of Service or applicable Laws.
Any use, whether actual or suspected, as described in this paragraph shall constitute a “Prohibited Use”. If Tether determines that you have engaged in any Prohibited Use, Tether may address such Prohibited Use through an appropriate sanction, in its sole and absolute discretion. Such sanction may include, but is not limited to, making a report to any Government, law enforcement, or other authorities, without providing any notice of you about any such report; confiscation of any Fiat, funds, property, proceeds, or Digital Tokens in any Digital Tokens Wallet that you have on the Site; and, suspending or terminating your access to any Services or Fiat, funds, property, or Digital Tokens from any Digital Tokens Address. Tether may, at its sole and absolute discretion, seize and deliver your property to any applicable Government, law enforcement, or other authorities where circumstances warrant. In addition, should your actions or inaction result in the imposition of economic costs to Tether, you shall pay an amount to Tether so as to render Tether whole, including without limitation, the amount of taxes or penalties that might be imposed on Tether.

Tether reserves the right to refuse registration to, to bar transactions from or to, or to suspend or terminate the administration of Services, Digital Tokens Address, or Digital Tokens Wallet for or with, any user for any reason (or for no reason) at any time, including but not limited to the provisions of paragraphs 8 and 11, subject to any limitations imposed by applicable Laws.
....
In lieu of refusing registration or ongoing administration of your Digital Tokens Wallet, Tether may perform enhanced due diligence procedures. At all times, you may be subject to enhanced due diligence procedures in your use of the Site and any Service. If you decline to provide requested due diligence information or otherwise do not reply timely or substantively with the documentation or data requested, the Site has the absolute discretion to suspend or terminate Services to you immediately.

I mean every tether user has already read their LEGAL Section? There are too many restrictions. We are using bitcoin just to "bypass" all of these kind of stuffs. It's sound a bit crazy for me accept some conditions (at their sole discretion) for using MY MONEY!