Why not use Tether instead of Bitcoin ?

[Henrobakkara]

Why do people not promote Tether instead of Bitcoin? 

Is it because there is no money to be made in Tether?

Isn't the whole idea of Bitcoin to have a decentralized network that is useful and fair?  Isn't that Tether?

1:1 seems fairer than 1:20,000 ...

Truthfully the main reason now people INVEST in Bitcoin is more of a profit-making rather than just the idea of having a decentralized network. Again speaking truthfully, would you OP rather invest in Tether or Bitcoin? even though we know that Tether is still always in the picture if you understand what I mean. 

[tbterryboy]

And why will they promote? It is already popular because it's the same as dollar and we know what dollar is right? But the only difference is that tether is digital. Unlike the dollar, bitcoin was still new to many despite of running for some years.

Is it because there is no money to be made in Tether?

No that's not true. You can make money in tether via staking, lending and there might be other more than this which I forgot or I didn't know yet.

Isn't the whole idea of Bitcoin to have a decentralized network that is useful and fair?  Isn't that Tether?
1:1 seems fairer than 1:20,000 ...

Yes you're right, the idea of btc is for the people to experience decentralization in terms of money/currency. Tether on the other hand is also useful because we can use it for payment or sending money and also it can be used for trading cryptos to prevent them from fluctuating but on the fair part I think no it isn't really that fair.

[tryingtolearn]

Truthfully the main reason now people INVEST in Bitcoin is more of a profit-making rather than just the idea of having a decentralized network. Again speaking truthfully, would you OP rather invest in Tether or Bitcoin? even though we know that Tether is still always in the picture if you understand what I mean. 

This is the most honest answer posted yet.  Thank you.   

I would not invest in Bitcoin or Tether.  My original question related more to the actual use of cryptocurrencies as currency - but that is not what the vast majority of bitcoin holders use it for. 

[justdimin]

you have an indirect way you answered yourself. People value and invest in Bitcoin because it is a decentralized currency and it is also an asset so having bitcoin as asset is what makes people to value it and be interested to it. I believe that cryptocurrency he said kind of currency that I appreciate people's funds but not like Tether. Tether is stagnant currency which does not add any value when who did why Bitcoin add values and also reduce values thats why some people do not value it.

Yeah, people do not invest into tether because tether is ruled by a company and not decentralized is the number one thing, plus they are much shadier than their competition as well, I would do to BUSD and not USDT if I was investing into a stablecoin as well, so decentralization and trust is one of the reasons.

Secondly, I do not invest into any stablecoins. Because, it is clear to me that we are talking about a situation where it is going to be just the same price at all times, why would I do something like that? I mean crypto would go up and make me some money, if I were to invest into stablecoins, I could just put all my money into regular dollar as well. But crypto means better returns.

[0verseer]

Why do people not promote Tether instead of Bitcoin?  

Is it because there is no money to be made in Tether?

Isn't the whole idea of Bitcoin to have a decentralized network that is useful and fair?  Isn't that Tether?

1:1 seems fairer than 1:20,000 ...

See bolded - that’s exactly why people prefer bitcoin to USDT as an investment vehicle. USD is losing purchasing value every year, inflation destroys lives & USDT is pegged to USD. Bitcoin is the lifebelt to save people from financial ruin. USDT is fine to transact immediately but for long term HODLING it is useless.

Even gold, silver and EUR are losing their value against the USD right now. So the idea of USDT can be an investment isn't wrong at least for the short term and despite the inflation rate this year will be high. I wonder what the BTC-USDT rate or similar stable coins will be? Will the same happen to BTC, losing value against USDT since USDT say is back 1:1 to USD?

[noormcs5]

Why do people not promote Tether instead of Bitcoin?  

Is it because there is no money to be made in Tether?

Isn't the whole idea of Bitcoin to have a decentralized network that is useful and fair?  Isn't that Tether?

1:1 seems fairer than 1:20,000 ...

See bolded - that’s exactly why people prefer bitcoin to USDT as an investment vehicle. USD is losing purchasing value every year, inflation destroys lives & USDT is pegged to USD. Bitcoin is the lifebelt to save people from financial ruin. USDT is fine to transact immediately but for long term HODLING it is useless.

Other than the making money phenomenon, keeping money in USDT is dangerous because it is not backed 100% and there is a risk that it may depeg with the dollar.

For a moment, think that USDT (Tether) is 100% backed, then why would you keep your money in USDT, when you can keep it in USD (fiat ) currency? If anyone thinks to keep money in USDT, for the long term, better to keep it in fiat dollars.

[coolcoinz]

I've been always saying that for me Tether is only viable for traders who are worried about taxation. In many countries it doesn't really matter if you exchange for USDT, or Fiat money. What counts is withdrawal to your bank account or via ATM. This is the taxable event, not the trade itself. Such people don't care if they exchange for fiat or USDt and fiat could be a much better choice because it's less risky and you don't need to make one additional transaction to fiat before withdrawing.

I've never used USDt and probably won't have to.

[coupable]

Why do people not promote Tether instead of Bitcoin? 

Is it because there is no money to be made in Tether?

Isn't the whole idea of Bitcoin to have a decentralized network that is useful and fair?  Isn't that Tether?

1:1 seems fairer than 1:20,000 ...

It is clear that you do not appreciate the seriousness of your proposal if it was actually achieved and implemented. Stable coins originally cannot be considered as cryptocurrencies with the characteristics of other cryptocurrencies that derive their value from the projects that support them. Stable cryptocurrencies are an encrypted version of fiat money.
It was created and used mainly for a specific function which is to use it as a trading instrument, enabling traders to freeze their balances in times of price decline or buy at a fixed price in order to avoid price fluctuations.

[GeraldTucker]

Imo this may be because the Tether is a centralised crypto and theoretically is expected to remain more stable than bitcoin which is a decentralised cryptocurrency.

[NotATether]

Why do people not promote Tether instead of Bitcoin?

Because Tether is not decentralized - all coins are minted by a centralized company that can regularly alter the supply and demand at will, and who in some cases have manipulated the price of USDT in order to short or long other cryptocurrencies.

Why do you think the US regulators are chasing after stablecoins?

[KaliLinux]

Why do people not promote Tether instead of Bitcoin? 

Is it because there is no money to be made in Tether?

Isn't the whole idea of Bitcoin to have a decentralized network that is useful and fair?  Isn't that Tether?

1:1 seems fairer than 1:20,000 ...

Truthfully the main reason now people INVEST in Bitcoin is more of a profit-making rather than just the idea of having a decentralized network. Again speaking truthfully, would you OP rather invest in Tether or Bitcoin? even though we know that Tether is still always in the picture if you understand what I mean. 

I agree with you on this. Why do Investors worry so much when the prices of cryptocurrencies start to drop as we have seen in the past months or even in a previous bear market? Every investor wants to make profits off their investments at the end of the day. We have seen HODLERS of Bitcoin from the years past telling us how some of them have not sold a single satoshi and how BULLISH they are, and why are we always waiting to buy the dips with Bitcoin? (Buy low Sell High) that's all about profit and we cannot say the same for Investing in Tether. 

[Eugene Buck]

Tether doesn’t fit in the concept of cryptos as it is a centralised currency and is linked to the real world’s currency unlike bitcoin. Moreover, tether is a stable coin unlike other cryptos which does not go with the nature of cryptocurrencies which is volatile in nature.

[bakasabo]

First of all tell us why you want to use Tether instead of Bitcoin, and where exactly you plan to use it. If you just want and dream to make daily purchases with crypto, but use Tether instead of Bitcoin, then why dont you use fiat instead? It is same US dollar. Why do you need extra steps like converting, buying, having wallets, private keys and etc? Just use cash, wear gloves and glasses and be an "anonymous" payer

[CryptSafe]

Why do people not promote Tether instead of Bitcoin? 

Is it because there is no money to be made in Tether?

Isn't the whole idea of Bitcoin to have a decentralized network that is useful and fair?  Isn't that Tether?

1:1 seems fairer than 1:20,000 ...

OP I think you really have to do more findings so you could understand what you are saying. For a clear understanding, tether is a stable coin with a smart contract on the ethereum blockchain. Please you should nite this that tether however is a token and not a coin as you presumed. Tether can be controlled and has millions of it in circulation. It is equivalent to one us dollar in real life. Now back to Bitcoin. Bitcoin as we all know Is a blockchain on it's own void of any centralized authority and has a scarce supply of 21million in supply. It has more appreciable value than tether as it is not controlled by any authority.

[GeorgeJohn]

Bitcoin was created to as an alternative for Fiat that is prone to inflation, no privacy and too much centralized while you are suggesting Tether which is just a digital fiat with much shadier than fiat is very absurd logic. Why we will use Tether as alternative to Bitcoin while it’s just a digital fiat if I will just give back the question?

Tether is a fiat currency from my own observation and my own understanding of cryptocurrency. why bitcoin itself is a decentralized currency which can work or collaborate together with fiat currency. as a cryptocurrency been popularly known as Bitcoin at the heads of other cryptocurrencies can not deal or do without the action or the help of Fiat currency. We all know that Bitcoin have it domination since introduction to the world but that does not mean that it does not work under Fiat currency because fiat use to purchase Bitcoin. So without it Bitcoin can not exist alone.

[tbct_mt2]

Tether is a fiat currency from my own observation and my own understanding of cryptocurrency. why bitcoin itself is a decentralized currency which can work or collaborate together with fiat currency. as a cryptocurrency been popularly known as Bitcoin at the heads of other cryptocurrencies can not deal or do without the action or the help of Fiat currency. We all know that Bitcoin have it domination since introduction to the world but that does not mean that it does not work under Fiat currency because fiat use to purchase Bitcoin. So without it Bitcoin can not exist alone.

You should learn what is fiat currency and what is stable coin. They are not the same. CBDC can be a replacement for fiat currency because it is controlled by government and central bank. However, stable coin is not a replacement for fiat currency in aspect of governmental control. Even they can have same value on market but they are different.

The total supply of stable coin should be very smaller than total supply of fiat currency because governments won't allow companies to mint stable coins too much and exceed total supply of fiat currencies.

[dlightag]

Tether can not be compare with Bitcoin, because, Bitcoin has blockchain, while Tether does not have, and where Tether play a role when market is going dip, as a smart trader at that point in time, make use of Tether to hold the same value as a stable coin. Having said that, Tether does not add value, but bitcoin changes values from time to time and is very good to invest for long term holding.

[TimeTeller]

Tether can not be compare with Bitcoin, because, Bitcoin has blockchain, while Tether does not have, and where Tether play a role when market is going dip, as a smart trader at that point in time, make use of Tether to hold the same value as a stable coin. Having said that, Tether does not add value, but bitcoin changes values from time to time and is very good to invest for long term holding.

I believe the OP is not well-versed about btc and usdt.
USDT is a stablecoin backed by fiat, and its value won't change much as it is stablecoin.
People go to this currency to avoid the volatility of the market.
Whereas, a lot are trying their luck to invest in btc for the hope that it will give them profits later on.

[Kelvinid]

You will perhaps be thinking OP that people aren't coming to make use of this Bitcoin to purchase stuff like fiat money but they come for investment purposes in order to multiply their money. That is why they are preferred to take Bitcoin over Tether knowing that this will give them profit due to its volatility. But Tether can't and it was impossible.

So, you don't need to wonder why people had chosen Bitcoin and ignored stablecoins as they are considering crypto as an investment, not a purchasing tool.