Is USDT a safe stablecoin or can become a scam ?

[rum19980]

Hi guys do you think USDT is a safe stable coin to store our money or USDC maybe better ?

Yesteraday USDT price drop to 0.95$ but now it seem that it get back to normal

You think USDT devs can scam like creating more supply and dump in the market peoples

 since the same happned with Luna & UST

https://i.imgur.com/AsH73jw.jpg

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[fenican]

Nobody really knows. Tether is no longer audited by a respected accounting firm so I think as an investor you have to essentially assume the peg has been squandered or invested in risk assets. I doubt it would survive a run on the bank.

[youdacapt]

Hi guys do you think USDT is a safe stable coin to store our money or USDC maybe better ?

Yesteraday USDT price drop to 0.95$ but now it seem that it get back to normal

You think USDT devs can scam like creating more supply and dump in the market peoples

 since the same happned with Luna & UST

Nobody has a clearer evaluation the circumstances surrounding USDT Tether as at today; there are alot of doubts lingering around usdt and its legality for crypto currency usage and adoption. As a crypto investor; with recent lessons learnt from Luna and UST; i believe it is good if you move your funds to usdc or busd for the time being or better still move your funds to local fiat and be happy. Don't play hard game with usdt for the time being. All the same, please dyor; this is not FA just my humble opinion

[mindrust]

USDT is possibly a major scam also because it is impossible to audit their reserves which means they may not have the assets to back their tokens.

The good news is, almost every major crypto exchange participate so it will be a lot harder to bring usdt down. The bad news is, that day will come sooner or later so it is a good thing to keep that in the back of your head.

[o48o]

Hi guys do you think USDT is a safe stable coin to store our money or USDC maybe better ?

Yesteraday USDT price drop to 0.95$ but now it seem that it get back to normal

You think USDT devs can scam like creating more supply and dump in the market peoples

 since the same happned with Luna & UST

Look at the price history of Usdt, it always bounced back so i wouldn't panic on that. There are ton of FUD around USDT, it has been so from the start but i have full trust on tether and busd, but i wouldn't count on DAI right now. 

[Hero Member0]

You think USDT devs can scam like creating more supply and dump in the market peoples

I don't think so, unlike Luna USDT backed with USD, yesterday USDT hit 0,9 because everyone get panic and sell their usdt snd even now the price already back to normal, besides we already know who they are if they scamed us then SEC will do something about them.

[JeffBrad12]

If USDT has backed by full dollar aka fiat money and that's fine but you must also see the fundamental of stable token itself. I know that you are feeling worry after seeing that if the stable token has been going down to the bottom but in my opinion if usdt far better compared with ust. Im holding all of my assets in the stable token right now. Im sure that if you are also feeling panic after seeing the price of usdt was going down a little bit.

[kojektea]

USDT is different from UST and LUNA, USDT is backed up by the original currency, namely USDT, while UST is backed up by bitcoin, the fatal mistake made by the UST team is that they liquidate the backup from UST for reasons that I don't understand myself, but it may have something to do with The price of bitcoin has fallen for the past few days. In addition, UST is a stable DeFi coin they are not used as a stable coin but rather an investment with high interest rates.

[masterrex]

Hi guys do you think USDT is a safe stable coin to store our money or USDC maybe better ?

Yesteraday USDT price drop to 0.95$ but now it seem that it get back to normal

You think USDT devs can scam like creating more supply and dump in the market peoples

 since the same happned with Luna & UST

I think the situation of the USDT tether is different compared to the UST of Terra and I can say that USDT is a lot better compared to Terra's UST stable coin, because USDT has huge liquidity and it is also popularly traded in most cryptocurrency exchanges, particularly in the big exchanges like Binance, Coinbase, etc. on the other hand USDC is also good but as I said USDT is more popular that's why it has a lot of users.

Anyway but in the question, if the Tether Developer can mint more USDT and dump it in the market will its highly possible, but so far there is no indication about that scenario so it will remain as speculation.   

[Metroid]

usdt is a scam, usdc is not scam, actually usdc is the only stablecoin that can be trusted at moment as it is regularly audited.