DO NOT TRUST TO TETHER

[mindrust]

It blows mind everyday seeing people that act like tether doesn't even exist.

They printed exactly 6 billion USD since the beginning of this year. More than their entire  2019 market-cap.

You would say; what if people really demand more tethers and finex have no other choice but print more?

I would say; do you see that demand? Do you feel it? Does this year even feel better than 2019 in terms of adoption? Especially after covid-19 happened?

No.



It is a ticking bomb waiting to explode. When that happens some heads gonna roll.

[1715619965]

1715619965

[mk4]

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.

Sure. I'm not stopping anyone if they want to use Tether, as Tether is the most liquid stablecoin we have right now, which can be advantageous for trading. It's just that most people don't actually know that these companies can lock up the stablecoins even on your own non-custodial wallet. That is the problem.

[davidroux]

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.

Up to now, there have not been any problems with me using Tether because USDT is generally considered to be fiat in this market. I think if you buy or sell any coin, you will convert to USDT to know exactly your current profit. I don't understand why so many people condemn this stable coin, but I'm sure USDT will always be stable at $1.

[bitbollo]

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.

Up to now, there have not been any problems with me using Tether because USDT is generally considered to be fiat in this market. I think if you buy or sell any coin, you will convert to USDT to know exactly your current profit. I don't understand why so many people condemn this stable coin, but I'm sure USDT will always be stable at $1.

Have you ever read their Legal sections with all subtle meaning that involve using their service?
I mean when you use bitcoin you're accepting "mathematical" rules.
With tether you're using a service with all legal aspect linked to that.
I suggest every time to take a look about their condition of usage, here I made some example.
https://bitcointalk.org/index.php?topic=5258508.msg54702459#msg54702459
I don't trust a service that can seize my money at their solely discretion or because I have make a deal "with a suspect". In case of issue, I should make a lawsuit? It will worth?

[brightemo]

FUD like this is harming the industry. Without tether it will collapse. Do you know about it volume?

[slashz9]

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.

Sure. I'm not stopping anyone if they want to use Tether, as Tether is the most liquid stablecoin we have right now, which can be advantageous for trading. It's just that most people don't actually know that these companies can lock up the stablecoins even on your own non-custodial wallet. That is the problem.

Will they do it after gathering reputation and trust all this time? ok we assume they did it and tether no longer believed, whether it will make stable points no longer in demand, I don't think so.
people will still make transactions using stable coins because this cycle will continue to spin.

knowing or not knowing I don't think it will make much difference.

[minairia3]

Its not I trust them but having the option to be so liquid is the best part for usdt. I know the company hold our stablecoin and anytime they can do it but how big is the chance this is happening anytime sooner? If there's a trusted stablecoin maybe this is tether. Once they collapsed, Im not sure if the market would be able to withstand the damge it will inflict.

[trauchot]

Everyone has their own opinion and maybe you are right in something, so we should always think before making investments or just to keep our money in cryptocurrencies such as Tether, but I constantly change Tether to other cryptocurrencies and back from various cryptocurrencies back to Tether and I hope that in the future everything will be fine with Tether.

[Gunday_07]

Tether stable coin is centralized if that's what you mean by not been safe well you may be right, the best stablecoin that one can hold for long should be decentralized like DAI but the fact is even dex projects can turn scam any time, it's still risky than even holding bitcoin.

[Reid]

Bullseye.

A good reason for it to be shutdown.
There is an incentive for that coin.
Use it as much as you can in trading to make profits but never stay with that coin for a long time.
Try as much as possible to buy another coin back, just not with Tether.
Anytime there is a chance of explosion. 

[mk4]

FUD like this is harming the industry. Without tether it will collapse. Do you know about it volume?

FUD? LOL. Read around the web. It doesn't take much Google searches to land upon dozens and dozens of articles about Tether's shadiness. Also, Tether have higher volume doesn't make it any better. In fact, it makes it worse that people are actually trusting this stablecoin.

Will they do it after gathering reputation and trust all this time? ok we assume they did it and tether no longer believed, whether it will make stable points no longer in demand, I don't think so.
people will still make transactions using stable coins because this cycle will continue to spin.

knowing or not knowing I don't think it will make much difference.

Tether being centralized and the concept of stablecoins isn't the problem here. Tether's shadiness is the problem. There's a reason why the people are calling out Tether specifically and not other stablecoins like USDC/TUSD/etc.

[IamAltcoinfan]

From 2018 i am listening the same in the fear of that i didnt convert my holding to Tether because of Taxation problem i dint convert into fiat currency . Finally i lost most of my holdings but there is other alternative for stable currency Binance USD , DAI . Even more but still i am converting my holding in USDT as if now it is the best option.

[wiggi]

Have you ever read their Legal sections with all subtle meaning that involve using their service?
I mean when you use bitcoin you're accepting "mathematical" rules.
With tether you're using a service with all legal aspect linked to that.
I suggest every time to take a look about their condition of usage, here I made some example.
https://bitcointalk.org/index.php?topic=5258508.msg54702459#msg54702459
I don't trust a service that can seize my money at their solely discretion or because I have make a deal "with a suspect". In case of issue, I should make a lawsuit? It will worth?

In practice they can refuse to do business with you, but can't freeze tokens on ether or bitcoin/omni blockchain.
If you own the privkey, you can trade the token on any exchange.

Actually they can freeze individual USDT through a hardfork of the underlying coin or protocol. Omni made a hardfork once when 30 million Tethers got stolen,
that's where the "Quarantined USDT" on their transparency page come from. But it's not a threat to the average user.

[LbtalkL]

In previous days and month, I keep getting alert from @whale_alert on twitter that another USDT is being minted like $20 million or more, that is a huge amount of money. I have a conversation with fellow crypto enthusiasts, we are talking about USDT. He says they cannot mint unless they have deposited dollar somewhere. The question is do they really have deposited millions of dollars in a particular bank? So, that is what makes USDT suspicious but still, it is the most popular stablecoin.

[0verseer]

Well, from my reception, not many people willing to trust Tether or any stable coin thing as we understand how they keep "minting" over time. I think soon or later, Banking will have to accept cryptocurrencies and from there, the trust for Tether would change in a positive way.

[ameliana]

Honestly, I only believe in BTC, as we know that in the cryptoqurrency industry offering thousands of new coins or altcoins, as investors we must be wiser before investing here. related to USDT I think it's better to use it only for necessity, stable coins have a fixed price and are better suited for trading.

[Synerggy]

Everyone is scared of centralization in crypto space but every where I turn to in crypto space centralized projects are doing better, for  example the best exchanges in crypto space are centralized exchanges, dex aren't even close. Usdt is centralized, accepted but its well supported and most used than DEX stablecoin projects, I have no issue with USDT, it's my favorite and I tend to keep it that way

[bitgolden]

Eventually there will be a moment when tether can't sustain of selling all the tether they are printing out and won't be able to sell it to the market prices and just get money back, but they will be failing at repaying people who want to cash out as well, so that means they will agree that they are a fake company that doesn't have the money they claim they do.

All of this will cause a 10 billion dollar drop in the market, it is going to create so much shock that everything will fall, not just alts or tether but bitcoin as well. This is why I have kept saying that XRP and Tether are two companies who will cause crypto markets to be destroyed one day. Of course, we will rebuild it better but as long as companies make profits from the gullible people in the market, the risk will continue and it will become bigger as well.

[suzanne5223]

FUD like this is harming the industry. Without tether it will collapse. Do you know about it volume?

This is totally not a FUD because Tether never provided a genuine audit showing their reserve funds and what they provided is digits without any evidence. However, i dont see any reason why this will harm crypto industry because Tether is not the only trading pair stablecoin will have in the market.

[posi]

Everyone is scared of centralization in crypto space but every where I turn to in crypto space centralized projects are doing better, for  example the best exchanges in crypto space are centralized exchanges, dex aren't even close.

The last time i checked centralized project never flourish than decentralized project and the best exchanges you used as an example operate in semi centralize way.

Usdt is centralized, accepted but its well supported and most used than DEX stablecoin projects, I have no issue with USDT, it's my favorite and I tend to keep it that way

Tether was supported the most supported years ago before their scam activities was exposed by the NYC Attorney and despite that no proper audit was done, so i dont see any reason for genuine crypto enthusiast should see it as a favorite stablecoin cause nothing will stop them from scamming people as before and i hope you wont blame yourself in the future if you still intent hold it.