Usdt safe heaven

[adaseb]

Basically whether it’s hacked or not technically only becomes an issue if everyone tries to withdraw at the same time, which won’t happen.

There are probably a few millions of lost tether even from people sending to wrong addresses, forgetting their Bitcoin or Ethereum private keys or losing access to their coins somehow.

However if for some reason 100% tried to redeem their tether and then it turns out only 66% or so are out there, what would happen to the 33% of people. Most likely this will never happen so it’s not an issue however you don’t want to find out when it’s too late that there are liquidity issues.

[redwine49]

i read so much debate about USDT and @OP love too much about his USDT.
nothing is really immortal or safe including USDT, everything has risk.
it is true that stable coin now get more users and holders especially for crypto trader and investor.
@OP can buy many usdt with his fiat money as he please or he mean he just sell all his crypto for usdt and hold it for the rest of his life? 
but i laugh when @OP said he want to keep buying usdt.

[Voxo2222]

Superfun post. At first I just was not sure if you were joking or actually serious about your mixed set of assertions, but after some consideration I am now certain that you are making fun of the whole thing. Yep, any establecoin is purely a joke: they have all the disadvantages of fiat, additional credibility issues around being backed up by anything at all and have a history of fraud and accusations. Anyway, perhaps useful for short times to avoid tax or artificially pump bitcoin price... all very legit activities.

If you think all stablecoins are just a joke then nobody will be worried about btc dip and all the noise people make trying to predict where the price is going next, let's face facts, btc is dipping and many people are taking their money into usdt or any stablecoins of their choice, that's because it is important to them to prevent their investment from going under and wait for years to recover, 
You have to live now before living in future.

Stablecoins might have flaws but they are serious things in crypto.
Anyone who think its a joke is just kid

[redwine49]

Stablecoins might have flaws but they are serious things in crypto.
Anyone who think its a joke is just kid

no one said it's a joke. that is big concern and most people especially here warn the risk.
they not like ordinary bank, stock nor bond. so what you said about USDT "safe heaven" is not relevant.

[Koro-Sensei]

Stablecoins might have flaws but they are serious things in crypto.
Anyone who think its a joke is just kid

no one said it's a joke. that is big concern and most people especially here warn the risk.
they not like ordinary bank, stock nor bond. so what you said about USDT "safe heaven" is not relevant.

Its main flaws is the printing spree they always made. They are releasing liquid USDT almost every week and that's im very curikus about. Tether is one of the mkst renowned stablecoin which has flaws of auditing and kts getting scary.

[Xampeuu]

My advice is, don't put all your eggs into one basket.

Exactly the point and like other contributors have mentioned inflation to be the underlying factor affecting USDT. If you convert or buy your money all into usdt so you also have to remember inflation. When USDT is pegged on the dollar we have to remember that it value won't remain the same at some point when it is either fiat. So buying some crypto is still good for diversification and not to tie down money in usdt as it has advantages and disadvantages.

at least by using usdt, it will minimize the risk of fluctuations, as the Myanmar government has started to use it, so they want to improve from the tourism sector by facilitating foreign tourists to their country. but indeed inflation is unavoidable and usd is based on the dollar which has a certain value in a country

[darewaller]

Usdt is only true safe heaven asset.
As usa will create good demand for dollars thpe usdt is safe heaven not gold not btc but usdt.

Truth never outspoken if too many people knows truth then whos gona lose at the end...lol
Keep fuds over USDT i keep buying all ur Usdt and laugh ur face.

The coming economic recressions will make every asset to go down only safe heaven is usdt.

If you have this much trust on the USDT, then why not just hold the US dollar? The USDT stable coin is the same thing as the US dollar, so if you are holding this USDT coin, you are also holding the US dollar. USDT was created to be a digital dollar, and it pairs with the US dollar and moves the same direction with it. 1 USDT is the same as one U.S. dollar.

I have not even held the USDT in my wallet for once, because I don’t see the need for holding it . it’s still the same thing as when I am holding the US dollar. So, I just prefer to go for real cryptocurrencies that are not stable coins, such as the Bitcoin, Ethereum, cardano, and the rest of them that are really good. But it is still up to you, everyone has their own choice, and I wouldn’t be expecting you to also do the same thing that I am doing. You know what is best for you.

[ShowOff]

Stablecoins might have flaws but they are serious things in crypto.
Anyone who think its a joke is just kid

That's simply because USDT is used as a trading pair on many exchanges for bitcoin and thousands of other altcoin. I think if you want to discuss USDT issues in economics then I agree that this thread should stay here, but if you just want to compare these altcoin in your perspective, continue this thread on the Altcoin Discussion board.

I don't think USDT is a safe haven for long term investing and in most cases USDT is just used more as a trading pair than an investment. USDT is a centralized altcoin and it is not the best choice for long-term investment because with just a few mistakes your account and funds can be frozen. So don't push people to believe all your assumptions, we have every right to that.

[kryptqnick]

I agree with mk4 that these points about the USDT being great point to a fiat fan, basically. The USD is surely more secure than USDT, and if you generally believe that the economy is strong enough, the stability is worth it, and the inflation of the dollar is negligible, it's better to simply use the USD because at least it's something under control of the government rather than a shady company that might largely sustain the stability of their coin by trust, rather than real assets behind it. And trust can disappear quite quickly at the first signs of trouble. What makes the USD different is a very strong country with #1 economy in the world that will do its best to return the trust and sustain the value. Also, tons of other countries value the USD highly and use it as a reference point for their own fiat. All that is certainly not the case with the USDT.

[teosanru]

Usdt is only true safe heaven asset.
As usa will create good demand for dollars thpe usdt is safe heaven not gold not btc but usdt.

Truth never outspoken if too many people knows truth then whos gona lose at the end...lol
Keep fuds over USDT i keep buying all ur Usdt and laugh ur face.

The coming economic recressions will make every asset to go down only safe heaven is usdt.

Mynmar goverment are most smartest in the world and im surprised that they made usdt legal currency its easy for othets to visit country to use stable currency and specially now when dollar get stronger and stronger.

Haha it's really too funny you think USDT is a safe haven, it's backed just by one exchange which too isn't in very good shape these days, it's just that one exchange that claims that yes I am managing the whole USDT and I am keeping the whole amount of USDs safe with me against which this USDT is backed.

So basically you are saying we should trust a currency called USDT which is backed by USD in some account, while USD will definitely crash in the coming future. How does all of this make any sense tell me?

The usa dollar can crash no problem but usdt is not usa dollar usdt is not legal tender as currency of usa now so even the real usd can crash and it will crash usdt dont be affected you will learn about this soon.
If they wanted to crash usdt together with dollar then they would added usdt as legal tender of usa long time ago.

By law usdt neither dai or usdc is not usa dollar.
I can make my own stablecoin and call it usa dollar but if its not officially approved as legal usd currency by the state until then its not a currency.

And if people start losing their usdt due to frozen uadt or whatever reason it will be global chaos and i dont think it will happening.

People should use more their tiny brain b4 they really say something

Dont talk what you hear on the news news are on purpose wrong always to lead you where the rich want you to be.
But learn real things education guys education.

Haha I'll learn about it soon? First check how is USDT minted or burned at Bitfinex Treasury and what do they do to tether it's value to the Dollar. Then tell me anything here. Secondly, let's come on to your global Chaos logic, what you are trying to say is that USD will crash and that won't cause global chaos but if Tether crashes alone it will be global chaos which is why you don't think it will happen? I don't know where are your bringing your points from, moreover you cannot make your own stablecoin, try doing it, you won't be able to maintain it's stable value because you should have a liquidity pool with yourself to maintain the value of that stable coin.

[mindrust]

I'd rather prefer BTC over USDT as a safe haven. BTC is limited to 21 million units. Bitfinex can create USDT out of thin air which means the supply of USDT is infinite. There are also lots of bad news about Tether lately. If tether goes down it will surely affect bitcoin but because of bitcoin's limited supply, it will recover fast. USDT is nowhere near of being a safe haven.

[XCANA]

Usdt is only true safe heaven asset.
As usa will create good demand for dollars thpe usdt is safe heaven not gold not btc but usdt.

Truth never outspoken if too many people knows truth then whos gona lose at the end...lol
Keep fuds over USDT i keep buying all ur Usdt and laugh ur face.

The coming economic recressions will make every asset to go down only safe heaven is usdt.

Mynmar goverment are most smartest in the world and im surprised that they made usdt legal currency its easy for othets to visit country to use stable currency and specially now when dollar get stronger and stronger.

Do remember that each coins could serve different purpose as you do believe that USDT is a safe heaven which I don't doubt it but remember that anytime that Bitcoin value appreciate the former still remain constant hope you are aware. Bitcoin could serve as an investment coins while USDT could serve as the coins you convert to faith in other to avoid market volatility.

[suzanne5223]

Usdt is only true safe heaven asset.
As usa will create good demand for dollars thpe usdt is safe heaven not gold not btc but usdt.

I don't see any reason why you have to join the Bitcoin community then.

Truth never outspoken if too many people knows truth then whos gona lose at the end...lol
Keep fuds over USDT i keep buying all ur Usdt and laugh ur face.

You're right truth never outspoken but if you follow Offshore alert you'll see a lot of lawsuits filed against the USDT team for misconduct.

The coming economic recressions will make every asset to go down only safe heaven is usdt.

Don't worry we have seen how the previous recession has helped BTC gain more awareness and surge in terms of price.

Mynmar goverment are most smartest in the world and im surprised that they made usdt legal currency its easy for othets to visit country to use stable currency and specially now when dollar get stronger and stronger.

Thats from your own impression because USDT is the most tricky stablecoin will have in the crypto market though it may be the first stablecoin to be created the Dev behind it are also one of the dishonest cryptocurrency team and I believe the Myanmar government are unaware of this before they make USDT a legal currency.

[BITCOIN4X]

I agree with mk4 that these points about the USDT being great point to a fiat fan, basically. The USD is surely more secure than USDT, and if you generally believe that the economy is strong enough, the stability is worth it, and the inflation of the dollar is negligible, it's better to simply use the USD because at least it's something under control of the government rather than a shady company that might largely sustain the stability of their coin by trust, rather than real assets behind it. And trust can disappear quite quickly at the first signs of trouble. What makes the USD different is a very strong country with #1 economy in the world that will do its best to return the trust and sustain the value. Also, tons of other countries value the USD highly and use it as a reference point for their own fiat. All that is certainly not the case with the USDT.

Overall I think I agree with most of your points. USD is better than USDT if they are fiat fans and means they don't really support this decentralization as it seems they just want to stay centralized.

I disagree about USDT being a safe haven asset because in my opinion it is never better than fiat. If one agrees with centralization then they should not invest in USDT considering there are many risks to consider. It would be better for them to go to the bank and invest there with the amount of fiat they have than convince people about USDT.

[Dragonfund]

I'd rather prefer BTC over USDT as a safe haven. BTC is limited to 21 million units. Bitfinex can create USDT out of thin air which means the supply of USDT is infinite. There are also lots of bad news about Tether lately. If tether goes down it will surely affect bitcoin but because of bitcoin's limited supply, it will recover fast. USDT is nowhere near of being a safe haven.

Am I the only one that think btc comparison with usdt is unnecessary! They are two different assets design to function differently, I can't imagine or think that usdt is a safe place to put my money to hedge against inflation, usdt was meant to hold value at a fixed price but bitcoin is meant to fluctuate in price Change.
BTC demand and supplies give it more purchasing power unlike usdt where your value will remain the same and may be reduction in purchasing power.

[dothebeats]

If USDT is the true safe haven, you wouldn't be in the cryptocurrency market anyway looking at cryptos and not cuddling with USD. The US dollar has been plagued with inflation and is continuously weakening whether you like it or not. There's just a lot of things going wrong on the side of the dollar that other fiat currencies are much more impactful and logical to hold in the long run.

USDT is a stablecoin, yes, but it is not immune to the effects of inflation and weaking dollar, hence it is not a safe haven as you claim.

[arditiyan]

whatever your opinion about any coin in cryptocurrency I appreciate your opinion. however, believe me a USDT coin is not a safe coin. there is still a risk for any coin so far. in the crytpo market there is no guarantee of safe coins, only stable coins

[worle1bm]

In what dimensions you are living and considering USDT safe heaven? Have you ever heard the word inflation that is continuously diluting the value of all the currencies? But yes it's safe for those who don't want to be part of revolution and go against the government or are you any government bank official who talks in their favour? But this statement is going to be disagreed with the major of members here as they know what it is capable of and what not.

[Wind_FURY]

OP, you don’t get the point. USDT issuance is controlled by a centralized entity which could go down anytime. Where is the “Safe Haven” in that? Bitcoin might be volatile, but its value is decided by the open market at all times, its issuance is fixed in the protocol, and its storage is only controlled by the owner of the private keys.

[redwine49]

Stablecoins might have flaws but they are serious things in crypto.
Anyone who think its a joke is just kid

no one said it's a joke. that is big concern and most people especially here warn the risk.
they not like ordinary bank, stock nor bond. so what you said about USDT "safe heaven" is not relevant.

Its main flaws is the printing spree they always made. They are releasing liquid USDT almost every week and that's im very curikus about. Tether is one of the mkst renowned stablecoin which has flaws of auditing and kts getting scary.

we never know everything inside tether. i am afraid history repeat itself just like USD

The U.S. dollar was first established as a currency of the world in the Bretton Woods Agreement of 1944, becoming the most dominant currency in the world afterward. It was originally traded as a coin valued by its weight in gold or silver and later traded as a paper note, which was redeemable in gold. In the 1970s, the gold standard was removed, and the value of USD was permitted to float.
source from https://corporatefinanceinstitute.com/resources/knowledge/finance/united-states-dollar-usd/

reference

Gold Standart