what do you think about USDT?

[pixie85]

Although USDT got into some shit from the past, controversies after controversies I still use it for stabilizing my balances to avoid market fluctuation, one thing you should do is not to let your funds sleep in any currency but only with decentralized currency so you can sleep peacefully. There are bunch of stable coins in the market but it isn't paired with every coins, unlike USDT, so most probably people will just use USDT. If you're a trader like me, you won't have any problem using USDT  

So in other words you don't care if someone is lying, you still trust them.

It doesn't matter that USDT was supposed to be backed 1:1 with dollars, then they claimed they're backed by dollars and other assets, then that they aren't backed 1:1 and the more time goes by the more lies pile up.

An decent man caught lying just gives up and says, ok, I lied, sorry, the truth is this. A fraudster will cover up with another lie and another.

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[blckhawk]

Although USDT got into some shit from the past, controversies after controversies I still use it for stabilizing my balances to avoid market fluctuation, one thing you should do is not to let your funds sleep in any currency but only with decentralized currency so you can sleep peacefully. There are bunch of stable coins in the market but it isn't paired with every coins, unlike USDT, so most probably people will just use USDT. If you're a trader like me, you won't have any problem using USDT  

Exactly having the same experience here mate. I know that leaving your assets upon the hand of USDT will endanger your assets the fact, that they have faced a lot of controversies way back then and it could be repeated. However, I can't help it because several stable coins are only paired with limited coins so I got no choice but to use it. And if I choose to switch it into a more reputable stable coin it would take several fees. Anyway, if you are well-experienced and know what you are doing I think you'll be fine with using USDT to stabilize your assets.

[cabron]

This must be the reason why US lawmakers seek to make stablecoins illegal without federal approval

The US congress is about to create a law about this issue in order to control the the creation of stablecoins, they could have prevented some if they were just actively watching the crypto industry or they were just trying to let facebook do it and now they are to stop competition before everybody else does.

[dioanna]

Crypto world is full of volatility, USDT pair is the safe ground and way of securing profit.
I think USDT is fairly important especially to small traders like me.

[BALIK]

The simple fact has always been that, it's not really worth it, trusting centralized platforms because the team have the sole power to do any thing they want, and since USDT is one of such, the team can mint at will. However, on the other hand, USDT has grown so much over the years, have huge users and volume, therefore with such growth and position in the crypto space, one can say that, USDT will hardly face a problem which will lead to a sudden and significant drop in price, if that should happen, it will be a disaster, will affect a lot of people and will lead to the death of the platform, because trust will be lost in all ramifications.
In my own humble opinion, Bitcoin has always been the best and the most trusted for long term holding.

Absolutely! There's always a risk even if it is hanging on stable coins like USDT. The large users base and volume USDT in a way is the only 'collateral' they have at stake should something go terribly wrong. At the same time, the possibility of the price drop is very real and possible but like stated above this will destroy their reputation and business all together. Though for those saving in stable coins like USDT the risk is always there.

[Zionatin]

Is there any decent way to keep USD value coins? Is it just best to sell the crypto for Payeer or WebMoney? Then buy bitcoin back at a later stage.

 

This must be the reason why US lawmakers seek to make stablecoins illegal without federal approval

The US congress is about to create a law about this issue in order to control the the creation of stablecoins, they could have prevented some if they were just actively watching the crypto industry or they were just trying to let facebook do it and now they are to stop competition before everybody else does.

That's ridiculous. You could just operate outside of the US. They can't do anything then.

Crypto world is full of volatility, USDT pair is the safe ground and way of securing profit.
I think USDT is fairly important especially to small traders like me.

Securing a profit? Pray tell?

Everyone in the US uses USD so are you telling me they all are "securing profit" ?

[coolcoinz]

The only utility in USDt is in countries where local currencies are unstable, like in Venezuela, or where it's forbidden to trade into local currencies. If you have a choice to exchange for USD or EUR and USDt, I see no valid reason to choose the latter. USDt is like a company token, pretty much like another centralized crypto, like XRP or something. I could use it as a go-through currency to get my money from one place to another, but I'd never hold it. I don't trust tether and given a choice, you should not hold it.

[Lordhermes]

Although USDT got into some shit from the past, controversies after controversies I still use it for stabilizing my balances to avoid market fluctuation, one thing you should do is not to let your funds sleep in any currency but only with decentralized currency so you can sleep peacefully. There are bunch of stable coins in the market but it isn't paired with every coins, unlike USDT, so most probably people will just use USDT. If you're a trader like me, you won't have any problem using USDT 

That's the whole basic use of stable coin, that's why most centralized exchange created a trading pair with usdt for easy swapping to stable coin when the crypto market is at  moment.

[CuriousGeorge]

This must be the reason why US lawmakers seek to make stablecoins illegal without federal approval

The US congress is about to create a law about this issue in order to control the the creation of stablecoins, they could have prevented some if they were just actively watching the crypto industry or they were just trying to let facebook do it and now they are to stop competition before everybody else does.

That will be applied on US territory and if you are not coming from US or US citizen and then that's not a big problem for you to use the stable coin. It looks like the majority of stable coins will be banning US customer from their service.
I guess the exchange site will not also let the US citizens to use stable coins too. It will be giving a big impact to the US citizens.

[tabas]

USDT is one of the stable coins that has a stable price using the original USD underlying, but did you know that USD currency can be printed arbitrarily without an underlying different from IDR or rupiah printed based on gold underlying
 in other words USDT can also print coins at will like USD can USDT be trusted?  without the underlying USD, which becomes the underlying of USDT, it could experience a sudden drop in price, in other words if the USD is problematic, it will also affect the USDT price.
 what do you think about this?

They have been printing USDT long time ago. It will definitely affect whichever something happens with USD.
They are in the courts for probe to prove the legtimacy of the existence of their claim about USDt being backed up by real USD.

[kodtycoon]

Although USDT got into some shit from the past, controversies after controversies I still use it for stabilizing my balances to avoid market fluctuation, one thing you should do is not to let your funds sleep in any currency but only with decentralized currency so you can sleep peacefully. There are bunch of stable coins in the market but it isn't paired with every coins, unlike USDT, so most probably people will just use USDT. If you're a trader like me, you won't have any problem using USDT 

That's the whole basic use of stable coin, that's why most centralized exchange created a trading pair with usdt for easy swapping to stable coin when the crypto market is at  moment.

I don't want to think it's good for usdt because in my opinion this coin is pretty good because it can replace the dollar function and usually when many people start to get profit from trading they put their assets in the form of USDT.

This function ike that but some problem in the past and disagreements reflect bad performance for usdt, it could be that one day usdt price crashes like most crypto on market . usdt is good but we have to be vigilant mate I hope USDT remains stable for advancement of crypto market because if a crash is very disturbing trust of people who invest in crypto right.

[Kocret02]

Although USDT got into some shit from the past, controversies after controversies I still use it for stabilizing my balances to avoid market fluctuation, one thing you should do is not to let your funds sleep in any currency but only with decentralized currency so you can sleep peacefully. There are bunch of stable coins in the market but it isn't paired with every coins, unlike USDT, so most probably people will just use USDT. If you're a trader like me, you won't have any problem using USDT  

that's the positive side USDT can be used for the best asset storage like today .. so I think maybe USDT has a lot of advantages and USDT should always remain in crypto to balance crypto

[arabianhorse]

USDT is one of the most stable coin. USDT is stable coin and is based on USD. These coins exist in all exchanges. Almost all exchanges trade more with this coin. I still prefer to use USDT in crypto if I'm not using my funds in trading because it was stable and safe for my funds. And when it comes to trading, we do USDT in this peer.

[kpierce77]

That will be applied on US territory and if you are not coming from US or US citizen and then that's not a big problem for you to use the stable coin. It looks like the majority of stable coins will be banning US customer from their service.
I guess the exchange site will not also let the US citizens to use stable coins too. It will be giving a big impact to the US citizens.

It is very true, it will only apply to the people of US, but of course it will also have a big effect if it is true that they will implement strict regulations on USDT. But considering the large number of US users, maybe there will be an adjustment to the regulation? I'm not really sure about that

[Aldrinx00]

My point of view about usdt is that it's a great alternative if the crypto market is on a downside movement, you can easily convert your crypto holdings into usdt thus maintaining it at a higher price before it goes down in value.

[DeathAngel]

It it’s being used to pump bitcoin then I love it, otherwise I am numb to it & don’t have any interest in it. I’ve never had any dealings with it myself if I’m honest.

[Furryball]

USDT have faced some hardship in the past, SEC, regulations, etc but till date this centralized stable coin have managed to be the most successful stable coin so far, yes USDT is centralized and they can mint when they like, that isn't my own business, my own is to use the coin for it's real purpose as far as it works, right? Even DAI stable coin that's decentralized can't beat USDT, decentralized? Hm whatever, the choice is yours

[Bananington]

  if the USD is problematic, it will also affect the USDT price.
 what do you think about this?

I think you are missing the idea behind a stable coin being pegged to a FIAT currency, 1 USDT will always have value approximately equal to a dollar, this makes it nonvolatile comparatively. I don't think there is any issue with USDT regarding your points, even though I understand your concerns. USDT has helped me a lot to limit loss before massive market drops since I mostly trade USDT pairs.

[Sirait]

^ I think that despite the various controversies behind USDT, we need to admit that in times of volatile markets like now, we need stable assets and I think USDT is still the best choice.

[dioanna]

Is there any decent way to keep USD value coins? Is it just best to sell the crypto for Payeer or WebMoney? Then buy bitcoin back at a later stage.

 

This must be the reason why US lawmakers seek to make stablecoins illegal without federal approval

The US congress is about to create a law about this issue in order to control the the creation of stablecoins, they could have prevented some if they were just actively watching the crypto industry or they were just trying to let facebook do it and now they are to stop competition before everybody else does.

That's ridiculous. You could just operate outside of the US. They can't do anything then.

Crypto world is full of volatility, USDT pair is the safe ground and way of securing profit.
I think USDT is fairly important especially to small traders like me.

Securing a profit? Pray tell?

Everyone in the US uses USD so are you telling me they all are "securing profit" ?

not everyone in the US  is a trader, I'm applying my statement for me, not to all the citizens. Common sense pls.