Tether FUD

[hd49728]

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

Tether loses its power in cryptocurrency market when more stable coins have been created and grown up, gt better adoption by the people.

I think terribly bad news with Tether USD will have negative impacts on the crypto market. I undoubtedly think of such negative impacts from USDT but it will not an apocalypse for crypto market. It has many other choices as stable coins. If the market want to have a healthier time, it is time to minimize the impacts as well as dependence on Tether.

And without Tether USD, with the mainstream adoption for cryptocurrency, people nowadays will be able to use not only other stable coins but also hundreds of fiat currencies as well gift cards, etc. to buy crypto.

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[asriloni]

It's not something need to be concerned. FUD is just a common thing in crypto. It has been a very long time to see the FUD to the bitcoin and tether were always happening. It will actually affect the cryptocurrency but remember that if FUD can come from the various parties. there's no reason to feel worry with it dude. The old members have been experienced various FUD and just ignore it and everything will fine dude.

[mrdeposit]

Is it something to be concerned about?

If you are holder of usdt, you can switch to another stablecoin. TUSD or DAI? I have read about these stablecoins proven to be backed to 1:1 USD.

Could it possibly bring down Bitcoin if Tether implodes?

Btc has nothing to do with usdt, on the contrary, those who sell it will return to btc and this will definitely pump prices.  

[brainactive]

Wow, almost everyone in this thread doesn't seem to think Tether is an issue.

Just wanted to share an article I came across, which paints a pretty dark future for Tether and crypto. As much as a I'd like to dismiss this as FUD, it does raise a few interesting questions that are worth considering. If anyone wants to try and debunk or provide counterarguments to this, I'm all ears.

https://muellerberndt.medium.com/is-tether-a-black-swan-51095720b01c

[SaShiRaJaVu]

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

Is there anything that is new, the transparency issues were there from the beginning and even during the last rally everyone raised their doubts when Tether started minting millions of coins without any transparency and they still keep on doing that and everyone who started a business around the cryptocurrency market should know about the risk.

[brainactive]

Is there anything that is new, the transparency issues were there from the beginning and even during the last rally everyone raised their doubts when Tether started minting millions of coins without any transparency and they still keep on doing that and everyone who started a business around the cryptocurrency market should know about the risk.

Yes, the issue is not new and has been around for some time.

Tether is not $1M in market cap like it was in 2016. It is now over $60B and has secured a stablecoin network effect. This could be potentially concerning.

I think there's two issues here:
1) Whether Tether is dodgy
2) If Tether is dodgy, will the flow on effects be disastrous

While I'm not certain about the answer to issue 1 (there appear to be plausible arguments for both sides), I have not seen any well-made arguments explaining why a Tether implosion won't be diastrous.

[brainactive]

https://www.youtube.com/watch?v=pILNFu0bxx0

Thoughts?

[o48o]

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

Well if it suddenly would (for some reason) fail, it would shock the markets because there would be ton of liquidity problems to deal with. It would be chaos all around, and of course that would have short time effects on bitcoin price as well.

I respect Vitalik as an intellectual but i don't have a clue why he thinks Tether would have any problems, Tether is closely working with regulators unlike nearly every IDO project eth has btw.

[yazher]

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

Vitalik is a clueless fool. Tether is as solid as a rock. If you are not caught up with the latest news, let me tell you. Tether is being audited by the New York Attorney General every 3 months or something. If NYAG says Tether is OK, then it is OK. Therefore you shouldn't worry about it. Vitalik is doing concern trolling on Bitcoin. He should focus on his own home-project instead.

This guy's strategy is obviously trolling on other coins to push his project up. well, things like this work, when we haven't experienced yet how Elon Musk manipulate the market with his tweet and Vitalik, is obviously following his footstep to cause some ruckus in the market. only fools will believe what he says about Tether and if they will just blindly follow what he says, they will become a victim while he is on his chair laughing about the things he said.

[zasad@]

The capitalization of USDT is not high enough to threaten the market.
USDC is developing very quickly and you can use this stablecoin to store your funds.
The crypto market is still waiting for a lot of consumers, so it is better to keep part of your money in fiat.

[masterrex]

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

I think there's nothing new about this FUD, And it was already discussed many times, that's why let it vanish naturally, by the way, the concern is about the Bitcoin price impact if the Tether face scrutiny from the regulators and find out that it was not totally backed with fiat (dollar), IMO there's nothing serious about that fear because Bitcoin is not pegged on any currency or assets, so why bothering with it if the Tether operation will be banned or ceased, I believe there's a lot of stable coins out there to use. that's why it will not affect the Bitcoin price for that particular reason only and that's my opinion about it.

[bitcon]

What are your thoughts on the Tether FUD? Is it something to be concerned about? Could it possibly bring down Bitcoin if Tether implodes? Even Vitalik has expressed concerns about Tether and he doesn't fuck around

It is a fiat pegged currency, so can it cost less than its pledge? Tether was accused of not having this collateral, but as I know there were several audits that confirmed that Tether had this sum of money.
There were cases when stablecoins collapsed, but there were algorithmic stablecoins that couldn’t fight against panic. The most important thing in crypto is trust. As long as people believe in Tether, there is no point in worrying.