Btc and usdt people trust

[Etranger]

If you do not trust USDT, why not use the fiat currency that is on the exchange? For example, the euro or your local currency?

Perhaps it's slower than use USDT if he want to buy Bitcoin on specific moment or his local currency highly inflate.

But on the other hand, it helps to avoid double conversions and additional losses on the deposit and withdrawal of currency from a particular exchange. But neither USDT nor fiat currencies are suitable for the holding, so if the question is about the holding, then OP needs to choose currencies with growth prospects.

[erikalui]

USDT has always been considered to be stable for about 5+ years which is why people trust it and even when I need to withdraw my money, I use it as it has the lowest fee and is accepted by local exchanges too. If I had to use BTC, I would be paying $20-$50 in fees which is not worth it. It's not worth holding as the price will mostly be stable but if you want to trade, it's the best way out. Exchanges should offer support to hold USD instead of USDT to make it even more safe.

[Darker45]

If you are a crypto lover and you choose USDT over anything else, you are not a crypto lover. Why would you be going into crypto if what you will hold is a coin representing the US dollar?

If I were to stick to USDT, I would rather be sticking with cash. At least with my cash, I am in total control of it. I can secure it however I want. If you own USDT and you keep them in exchanges, you are getting into unnecessary risks. First, Tether could freeze USDT. Second, exchanges could freeze your account.

Finally, you aren't protected against the continuous devaluation of fiat if you are with USDT.

[Rikafip]

USDT has always been considered to be stable for about 5+ years which is why people trust it and even when I need to withdraw my money, I use it as it has the lowest fee and is accepted by local exchanges too. If I had to use BTC, I would be paying $20-$50 in fees which is not worth it.

If you have to pay $20-$50 in fees when sending BTC, you are either keeping your BTC in some bad custodial wallet that is overcharging people, or you are sending it via exchanges that usually have high fixed fees. If you are keeping your BTC in non-custodial wallets like Electrum that allow you to manually set your fees, you wouldn't have to pay for more than 50-60 cents. Just yesterday I bought VPN subscription with BTC and transaction fees were 50 cents. It could have been much lower than that but I wanted it done fast so I paid a little bit extra.

Exchanges should offer support to hold USD instead of USDT to make it even more safe

If you want to hodl fiat, you already have banks for that. After all, exchanges are a horrible place to hold your money for longer period of time. And same thing goes for centralized cryptocurrencies like USDT which can be easily freezed in your own wallet and there is nothing you would be able to do about it. And now compare that to Bitcoin and you will realize how unsafe USDT is for hodl.

[ChiBitCTy]

Traders and alot rich traders investors are in 2 things.
Btc and usdt as USDT is safe place to hold funds but how the exchangers protect this ?
Imagine if something happens with usdt many people will lose so much that they never cant deal with crypto anymore so what is the exvhangers security plan to fully protect customers ?
As myself fully depend on usdt thats how much i trust usdt and usdc also.

People want to be in crypto if they can funds in stable coins to give them safety but if usdt not safe as there is rumours about usdt then all the crypto game will be over.
I can never sleep well if i know my money will be in volatile coins so USDT is now very important and gives confidence for investors and crypto lovers such us myself

I have to ask, why do you have so much holdings in USDT?  This really doesn't make any sense to me.  If you want your money to be in more stable assets or more stable investments, then invest in US stock markets.  Maybe put some of these funds in a Money Market Mutual fund if you're looking for it to grow slightly with stability in mind.  Hopefully you have a foundational portfolio outside of these coins with traditional assets.  It sounds like you might be just taking on too much risk.

[ethereumhunter]

Nothing is safe in crypto as prices are constantly changing. USDT may be a place to store value for money temporarily and when the price of bitcoin falls, you can buy it again and sell it when the price of bitcoin goes up so your USDT value increases. Maybe it's temporary security but they will convert USDT into bitcoin or some other coin. Besides using USDT, you can also use USDC, BUSD, DAI, or others to use USDT and have various stable coins.

[Marvelman]

USDT has always been considered to be stable for about 5+ years which is why people trust it and even when I need to withdraw my money, I use it as it has the lowest fee and is accepted by local exchanges too. If I had to use BTC, I would be paying $20-$50 in fees which is not worth it. It's not worth holding as the price will mostly be stable but if you want to trade, it's the best way out.

What do you mean? BTC has significantly lower transaction fees than USDT (on the Ethereum network, which I believe is the most popular). If you are referring to withdrawal fees imposed by exchanges, then you should find a better exchange since it has nothing to do with BTC.

Exchanges should offer support to hold USD instead of USDT to make it even more safe.

There are many exchanges that support this. You don't necessarily have to convert fiat currencies to USDT unless you want to transfer to external wallets.

[rat03gopoh]

Anyway I still don't understand why Tether should scam the whole ecosystem, how they could make more money with a scam rather than keep making a ton of money every single day.

Tether isn't just about the scam, but a contradictory treatment of crypto decentralized systems. Since the value backing their token is real USD money, I can conclude that tether could someday damage the ecosystem under regulatory pressure. They are very centralized, for example Tether Freezes $160M of USDT Stablecoin on Ethereum Blockchain.

[Issa56]

I don't think anybody should trust usdt over bitcoin, the only time I make use of usdt is whenever I want to buy a coin and am waiting for the coin to retrace to a particular price first before buying, then an always leave my money in usdt first before buying the coin but I don't trust usdt, I can never leave my money in usdt.

[DooMAD]

Crypto lovers loving USDT really sounds ironic hehe.

That's just it, though.  It's speculators who love USDT.  They don't need to care about things like permissionless/open-source/financial sovereignty/censorship resistance/etc.  They only need to care about trying to make a quick buck.

I suspect the OP couldn't care less about the things most of us would recognise as the fundamental aspects of crypto.  They're just a mindless speculator and, from what I can gather, not a particularly successful one. 

[Xal0lex]

Traders and alot rich traders investors are in 2 things.
Btc and usdt as USDT is safe place to hold funds but how the exchangers protect this ?
Imagine if something happens with usdt many people will lose so much that they never cant deal with crypto anymore so what is the exvhangers security plan to fully protect customers ?
As myself fully depend on usdt thats how much i trust usdt and usdc also.

People want to be in crypto if they can funds in stable coins to give them safety but if usdt not safe as there is rumours about usdt then all the crypto game will be over.
I can never sleep well if i know my money will be in volatile coins so USDT is now very important and gives confidence for investors and crypto lovers such us myself

I'm not a trader, but if I were, I wouldn't trust storing my money in USDT. It's too centralized a stablecoin that can easily block your addresses, and has questionable collateral, judging by its last audit, where collateral in dollars was only about 15%. And why would you want to keep your funds in stabelcoin, what's wrong with bitcoin? I'd also look at decentralized stablcoins and bitcoin-backed stablcoins (there are some already).

USDT compromised itself a long time ago and you can use it only for exchanges, but no way to keep money in it, especially if you live in countries unfriendly to America. And if USDT completely loses credibility and crashes, I think the crypto industry will find another way to interact with fiat. Of course, there will be some serious losses, but that does not mean that USDT is the only solution in the cryptocurrency market.

[teosanru]

Traders and alot rich traders investors are in 2 things.
Btc and usdt as USDT is safe place to hold funds but how the exchangers protect this ?
Imagine if something happens with usdt many people will lose so much that they never cant deal with crypto anymore so what is the exvhangers security plan to fully protect customers ?
As myself fully depend on usdt thats how much i trust usdt and usdc also.

People want to be in crypto if they can funds in stable coins to give them safety but if usdt not safe as there is rumours about usdt then all the crypto game will be over.
I can never sleep well if i know my money will be in volatile coins so USDT is now very important and gives confidence for investors and crypto lovers such us myself

This is actually a very frightening thing, it becomes even scarier when you realize that USDT is controlled by just one exchange and it is responsible solely for maintaining its value, which means if someday something happens to that very exchange your USDT loses its value. And it's absolutely true that 70-80% of all the wealth of almost all the traders is kept in such stablecoins, which means one shock in such coins is enough to shake all your wealth, I remember such a thing happening a few years back when bitcoin jumped by almost 3000$ from 7k to around 9k after there was a news regarding some abnormality with USDT.

[Hamphser]

I don't think anybody should trust usdt over bitcoin, the only time I make use of usdt is whenever I want to buy a coin and am waiting for the coin to retrace to a particular price first before buying, then an always leave my money in usdt first before buying the coin but I don't trust usdt, I can never leave my money in usdt.

No one should really trust it in the first place but we could not deny that it would really be useful towards your investment steps or actions specially when you are really avoiding volatility or simply securing out your

profits which it would really be normal that it would be ideal on using up USDT on this particular situation.If you are on that consideration on saving up your funds on USDT form then it wont really be that reccomendable
since we know that it isnt decentralized just like on most coins in the market.

Just utilize its actual usage and dont make it as a form of your accumulation of your assets.

[ajochems]

Trade can be made with the prediction.But predictions can be achieved with the previous change of price.The pot won’t fill with out the water.The price of bitcoin won’t increased without the investors.So the price variation of the bitcoin need of demand.Demand of product is made by the customers and same on bitcoin by the new investors to the crypto who keep joining market every year.

[DooMAD]

I really dont care i care about profit and that the exvhanger who im dealing with are honest with me i care less about fact usdt can be freezed i want my money
My money is money i care less about any laws at all all i care is cash flow to me and everybody whos responseble who im dealing with like some exchamger will take full responsebility thats what i see crypto is about

It's not your money when you pass control of it to someone else. 

Placing trust in others to hold your wealth for you is NOT what crypto is about.  If you think it is, you have seriously misunderstood the entire concept.

Even if the exchange you are using is fully accredited, regulated and licenced, if the exchange ever becomes insolvent, you are merely an unsecured creditor.  Look that up if you don't know what it means.  Then look up what order creditors get paid in when a company becomes insolvent.  You are not at the front of the queue.

And if something happens to Tether itself, my impression is you get nothing.  I don't see any line you can join which allows you to get your money back.  It's just gone.

[DooMAD]

It's not your money when you pass control of it to someone else.  

Placing trust in others to hold your wealth for you is NOT what crypto is about.  If you think it is, you have seriously misunderstood the entire concept.

Even if the exchange you are using is fully accredited, regulated and licenced, if the exchange ever becomes insolvent, you are merely an unsecured creditor.  Look that up if you don't know what it means.  Then look up what order creditors get paid in when a company becomes insolvent.  You are not at the front of the queue.

And if something happens to Tether itself, my impression is you get nothing.  I don't see any line you can join which allows you to get your money back.  It's just gone.

I will take down the exchanger whos not good to hold my money i dont care if my money gone then i will destroy the exvhanger i pay to right people who can use it tech perhaps thats why exchangers dont play with customer money so much

You're something special alright...  Wow.  

Still can't tell if you're trolling or just plain stupid, but either way, please stop talking now, k?  

[verita1]

I honestly think of USDT when I go to the P2P exchange. If I was given a choice between Bitcoin and USDT, without hesitation I would choose Bitcoin. But as OP says, traders wait for the bitcoin price to drop to buy more with their USDT pair. Without Bitcoin in the crypto market it would not be as we know it. All other coins depend a lot on the address where bitcoin is moving.

[Sebas.tian]

I honestly think of USDT when I go to the P2P exchange. If I was given a choice between Bitcoin and USDT, without hesitation I would choose Bitcoin. But as OP says, traders wait for the bitcoin price to drop to buy more with their USDT pair. Without Bitcoin in the crypto market it would not be as we know it. All other coins depend a lot on the address where bitcoin is moving.

I agree with you, without bitcoin in the crypto market it would not be as lovely it's today. Bitcoin still remain the king among other cryptocurrencies  because whenever bitcoin price is rising other coins will be rising too, but whenever bitcoin price is dropping in the crypto market other coins will start dropping too, show that bitcoin price control other coins price. Bitcoin is more safe and reliable in both short and long term investment compare to USDT that is not favourable in long term investment. Bitcoin is still maintaining the first position among other cryptocurrencies that will make many investors to prefer BTC than USDT.

[Issa56]

I don't think anybody should trust usdt over bitcoin, the only time I make use of usdt is whenever I want to buy a coin and am waiting for the coin to retrace to a particular price first before buying, then an always leave my money in usdt first before buying the coin but I don't trust usdt, I can never leave my money in usdt.

No one should really trust it in the first place but we could not deny that it would really be useful towards your investment steps or actions specially when you are really avoiding volatility or simply securing out your

profits which it would really be normal that it would be ideal on using up USDT on this particular situation.If you are on that consideration on saving up your funds on USDT form then it wont really be that reccomendable
since we know that it isnt decentralized just like on most coins in the market.

Just utilize its actual usage and dont make it as a form of your accumulation of your assets.

We all know that usdt is also useful, but some people keep on accumulating bitcoin because they believe thier funds are safe when in usdt which I always discourage, usdt is very important whenever their is volatility in market, you shouldn't accumulate and store usdt, usdt is not really safe.

[barbara44]

This is actually a very frightening thing, it becomes even scarier when you realize that USDT is controlled by just one exchange and it is responsible solely for maintaining its value, which means if someday something happens to that very exchange your USDT loses its value. And it's absolutely true that 70-80% of all the wealth of almost all the traders is kept in such stablecoins, which means one shock in such coins is enough to shake all your wealth, I remember such a thing happening a few years back when bitcoin jumped by almost 3000$ from 7k to around 9k after there was a news regarding some abnormality with USDT.

This has been the case for USDT ever since it was created, and yet people still invested heavily into it for some reason. Same goes for USDC and BUSD as well, one exchange is behind both of them (coinbase and binance) and that means if we are talking about stablecoins, we are talking about three big exchanges that are behind 150+ billion dollars worth of stablecoins total.

This is why it is very very scary to us that 3 exchanges could literally ruin all of crypto world. I am not saying that they will, why would they, they are making a lot of profit from them so they won't but the fact that they even "could" do that is scary enough for me.