Do You trust Tether (USDT) Stablecoin?

[fzkto]

Tether will mine Bitcoin using renewable energy in the country of Uruguay. This is after last month saying it will invest portion of its profits in Bitcoin.

It is for reasons like that I trust this stablecoin. It has new ideas and giving back to Bitcoin.  https://finance.yahoo.com/news/tether-start-mining-bitcoin-uruguay-024131625.html

I guess Tether understands the perspective of bitcoin, which is why they invest in bitcoin and even decided to go into mining. That means they are doing well in business and can really be trusted. But it still doesn't mean they can't have problems with the US government because usdt is a surrogate dollar.

that's the problem because in the US we know how strict the rules regarding crypto currency are,
moreover USDT was in the US a lot of FUD a few years ago but USDT was able to answer emphatically that they were fine in terms of reserves,
so I think we can trust USDT for now.

I wasn't talking about reserves, I was talking about the fact that Tether is not a real dollar. I think at any moment there could be problems because of this. Especially when the US develops CBDC. Tether will turn out to be a competitor for that digital currency because any user can use it.

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[deepblue01]

I wasn't talking about reserves, I was talking about the fact that Tether is not a real dollar. I think at any moment there could be problems because of this. Especially when the US develops CBDC. Tether will turn out to be a competitor for that digital currency because any user can use it.

yeah, that is not good.

A CBDC is a digital national currency. In the case of the United States, a CBDC would be a digital form of the U.S. dollar. Like paper dollars, a CBDC would be a liability of the Federal Reserve. But unlike paper dollars, a CBDC would offer neither the privacy protections nor the finality that cash provides

so this is why a lot of stablecoins out there are lowering their marketcap.
If CBDC is coming and can be a bridge to buy cryptocurrency then we are no longer need to use stablecoin anymore

[Abiky]

Tether will mine Bitcoin using renewable energy in the country of Uruguay. This is after last month saying it will invest portion of its profits in Bitcoin.

It is for reasons like that I trust this stablecoin. It has new ideas and giving back to Bitcoin.  https://finance.yahoo.com/news/tether-start-mining-bitcoin-uruguay-024131625.html

The stablecoin has contributed largely to this industry. But that doesn't mean it's guaranteed to last forever. Since Tether is tied to the USD, anything can happen. Would you imagine the USD losing its position as the reserve currency of the world? That would cause the USD's value to plummet, as well as, stablecoins pegged to it.

One thing for sure is that Tether is issued by a private company without the backing of the US government. Why would investors' funds be safe from harms way into something like this? The same can be said about USDC, and other stablecoins on the market. Fortunately, USDT has held its peg even during the worse of times. Who knows if it survives in the long run? Just my thoughts

[Aliem Nur]

Tether will mine Bitcoin using renewable energy in the country of Uruguay. This is after last month saying it will invest portion of its profits in Bitcoin.

It is for reasons like that I trust this stablecoin. It has new ideas and giving back to Bitcoin.  https://finance.yahoo.com/news/tether-start-mining-bitcoin-uruguay-024131625.html

I guess Tether understands the perspective of bitcoin, which is why they invest in bitcoin and even decided to go into mining. That means they are doing well in business and can really be trusted. But it still doesn't mean they can't have problems with the US government because usdt is a surrogate dollar.

that's the problem because in the US we know how strict the rules regarding crypto currency are,
moreover USDT was in the US a lot of FUD a few years ago but USDT was able to answer emphatically that they were fine in terms of reserves,
so I think we can trust USDT for now.

I wasn't talking about reserves, I was talking about the fact that Tether is not a real dollar. I think at any moment there could be problems because of this. Especially when the US develops CBDC. Tether will turn out to be a competitor for that digital currency because any user can use it.

Indeed, Tether is not real dollars but tether reserves have also been told to all of us that they have real dollar reserves at the Tether company,
so why should you hesitate? I'm sure everyone here still uses USDT as their stable coin, and from this it's clear the answer is that they still believe,
even Binance still keeps a lot of USDT on their exchange.

[BADecker]

Tether is a fiat Ponzi, basically similar to all fiat currencies. They have become as strong as they are because they copied the fiats, especially the US dollar and the way it is handled by the banks.

The more people place their trust in Tether, the more the banking cabal will work against the USD in some way.

[ScamViruS]

Absolutely yes i already trust USDT stable coin and hopefully USDT as well and better from others stable coin just we need to forget Justine Sun previously all.

Trust is good but it is not right to trust it 100% and think it is safe. Because USDT is not fully backed, you have to keep in mind that it can have a negative impact at any time. So it is always better to think of alternative ways which can save you from any sudden danger. I myself use USDT but I am not totally dependent on usdt. After the Luna incident, many crypto investors became more cautious about stablecoins.

[deepblue01]

Indeed, Tether is not real dollars but tether reserves have also been told to all of us that they have real dollar reserves at the Tether company,
so why should you hesitate? I'm sure everyone here still uses USDT as their stable coin, and from this it's clear the answer is that they still believe,
even Binance still keeps a lot of USDT on their exchange.

That's because the risk is even greater if the tether collapses. you can look at this and check marketcap.
you should see the history 1st january 2020 total marketcap around 4.6Billion USD and now 82Billion USD. only 3 years marketcap already 10x, maybe next year will be 20x.
if that bubble pop, i dont want to see the price of bitcoin that days

Or maybe you should know about luna and UST. The drama is so good, maybe we should make a movie for them

[Dr.Osh]

Only at the moment, but in the long run, nothing is guaranteed, especially in light of the ongoing campaign by the US government on cryptocurrencies in general and stablecoins in particular.

Also, buying large amounts of Bitcoin by Tether can be a double-edged sword. Good in terms of diversifying reserves, but negative in terms of that it can have an indication of fear of something.

I think most people would think the same thing. if you want to keep coins stable in the long term like USDT, it's better to keep them in a bank, because it's more secure than keeping them in a wallet or exchange. However, for the short term, I also always hold in stable coins, and USDT is my top choice because it is the stable coin I trust the most out of all the stables out there. However, that doesn't mean I believe it 100%. however, it's my go-to choice, but I never keep it for long.

[lunnatic]

Absolutely yes i already trust USDT stable coin and hopefully USDT as well and better from others stable coin just we need to forget Justine Sun previously all.

Trust is good but it is not right to trust it 100% and think it is safe. Because USDT is not fully backed, you have to keep in mind that it can have a negative impact at any time. So it is always better to think of alternative ways which can save you from any sudden danger. I myself use USDT but I am not totally dependent on usdt. After the Luna incident, many crypto investors became more cautious about stablecoins.

nothing is 100% safe do you remember the USTC incident? and take a good look at that incident,
the price of USTC was originally $ 1 and they said it was backed by USD but in fact now USTC has regressed -99%,
and can even be said to be the worst stable coin event in the world of crypto currency,
so with that incident of course we also have to be careful of other stable coins, including USDT

[gabbie2010]

yeah, there's no need to talk about it anymore because the credibility and trust in USDT is really very big,
it's proven that all exchanges use USDT and that can't be denied,
and don't worry about the peged from USDT, it's from real USD, so it's impossible for USDT to be a scam in the future, don't worry.

The fact that many crypto exchange uses USDT was one of the major reason why I also use it though I mainly used it for transaction purposes because my broker adopted it for swift transactions, however I can't hodl my major assets in USDT I would rather store my asset in Bitcoin to avoid unnecessary touching story with regards to the credibility and trustworthy of USDT and nothing is certain among stable coins except the major cryptocurrencies whose credibility is guaranteed and well tasted and confirmed though this is my personal opinion.

[timoshani]

yeah, there's no need to talk about it anymore because the credibility and trust in USDT is really very big,
it's proven that all exchanges use USDT and that can't be denied,
and don't worry about the peged from USDT, it's from real USD, so it's impossible for USDT to be a scam in the future, don't worry.

The fact that many crypto exchange uses USDT was one of the major reason why I also use it though I mainly used it for transaction purposes because my broker adopted it for swift transactions, however I can't hodl my major assets in USDT I would rather store my asset in Bitcoin to avoid unnecessary touching story with regards to the credibility and trustworthy of USDT and nothing is certain among stable coins except the major cryptocurrencies whose credibility is guaranteed and well tasted and confirmed though this is my personal opinion.

I also believe in the stability of Tether USDT as a stablecoin. This is the main stable in my portfolio because most of the operations are carried out through the Binance b TRX network, then for me, USDT is super profitable. Also, almost any exchanger allows you to cash out in fiat. Therefore, I do not plan to abandon Tether USDT yet

[Abiky]

nothing is 100% safe do you remember the USTC incident? and take a good look at that incident,
the price of USTC was originally $ 1 and they said it was backed by USD but in fact now USTC has regressed -99%,
and can even be said to be the worst stable coin event in the world of crypto currency,
so with that incident of course we also have to be careful of other stable coins, including USDT

UST was an algorithmic stablecoin backed by nothing. It was artificially "pumped" by the Luna Foundation Guard. With USDT, things are different. The stablecoin is backed by real USD reserves in a 1:1 ratio. Peg cannot be lost this way, unless the banks holding the USD reserves collapse in their entirety.

I'd trust USDT more than any other stablecoin backed by algorithms (such as Neutrino USD, USDD, etc.). However, that doesn't mean I'll be careless by putting all of my life savings into it. USDT is centralized after all. Same as USDC, TUSD, and others. Crypto is all about decentralization and freedom, so I'd suggest you put most of your money into BTC and ETH just to be safe. Who knows if stablecoins are eventually replaced by CBDCs? Just my opinion

[deepblue01]

nothing is 100% safe do you remember the USTC incident? and take a good look at that incident,
the price of USTC was originally $ 1 and they said it was backed by USD but in fact now USTC has regressed -99%,
and can even be said to be the worst stable coin event in the world of crypto currency,
so with that incident of course we also have to be careful of other stable coins, including USDT

UST was an algorithmic stablecoin backed by nothing. It was artificially "pumped" by the Luna Foundation Guard. With USDT, things are different. The stablecoin is backed by real USD reserves in a 1:1 ratio. Peg cannot be lost this way, unless the banks holding the USD reserves collapse in their entirety.

I'd trust USDT more than any other stablecoin backed by algorithms (such as Neutrino USD, USDD, etc.). However, that doesn't mean I'll be careless by putting all of my life savings into it. USDT is centralized after all. Same as USDC, TUSD, and others. Crypto is all about decentralization and freedom, so I'd suggest you put most of your money into BTC and ETH just to be safe. Who knows if stablecoins are eventually replaced by CBDCs? Just my opinion

I think my opinion is just to avoid unnecessary risks. if you use stablecoin or save your money into stablecoin. it's your own call & your own risk.
if you are suspicious of UST and think It was artificially "pumped" by the Luna Foundation Guard. It doesn't matter now. they are gone for real. And the problem is we should not fall in love with your own crypto.

about USDT is rank 3 by marketcap but it's very different from bitcoin/altcoin which does not have 100% liquidity like USDT.
for example if someone sells 1% of the total supply of bitcoins, the price can drop by more than 10% and how about stablecoin? it's must be 1:1 and do you think it's 100% safe?

[bittick]

yeah, there's no need to talk about it anymore because the credibility and trust in USDT is really very big,
it's proven that all exchanges use USDT and that can't be denied,
and don't worry about the peged from USDT, it's from real USD, so it's impossible for USDT to be a scam in the future, don't worry.

The fact that many crypto exchange uses USDT was one of the major reason why I also use it though I mainly used it for transaction purposes because my broker adopted it for swift transactions, however I can't hodl my major assets in USDT I would rather store my asset in Bitcoin to avoid unnecessary touching story with regards to the credibility and trustworthy of USDT and nothing is certain among stable coins except the major cryptocurrencies whose credibility is guaranteed and well tasted and confirmed though this is my personal opinion.

generally i guess it's good to store money in USDT only temporarily because the rumours circulating around this stablecoin, I guess bank is just still safer option nowadays to save money,
since even if they went bankrupt there is chance they can still recover back since they got help from government.

[lobo13hf]

it's the pioneer of stablecoin, I think i trust this coin like i trust any other stablecoin out there that are legitimate.
after all, saving wealth from fluctuation will be harder without them, in case of the coin is about to lose its pegging to the USD i could simply just liquidate it.

[JeffBrad12]

UST was an algorithmic stablecoin backed by nothing. It was artificially "pumped" by the Luna Foundation Guard. With USDT, things are different. The stablecoin is backed by real USD reserves in a 1:1 ratio. Peg cannot be lost this way, unless the banks holding the USD reserves collapse in their entirety.

That is true and it seems many are ignorant with this fact, both are stablecoin yes but they are entirely different stablecoin with entirely different system.
UST is just got its value artificially, basically like illusions while USDT got the value because they are reserving money for real.
the only way USDT could collapse is if the money reserved didn't match the total supply of the stablecoin they issued.
even then they could just fill in the gap in no time if they have still capital and the coin left unscathed. it's entirely different thing to be compared.

[Velemir Sava]

Yes, Dollarization. Despite the controversy surrounding Tether, I don't think conclusive evidence has been provided to confirm it as fraud or to definitively prove the allegations against it. Stablecoins have different mechanisms to maintain stability and different levels of transparency including USD Coins (USDC), Dai (DAI), and TrueUSD (TUSD) and these are as far as I know.

[podluznyj]

I'm in crypo world since 2021 only and since then I've noticed a lot of folks talking about Tether as being a potentional scam that may crash the markets one day and I've watched videos from crypto detectives/scam busters such as Coffeezilla and he makes some pretty fair points about Tether being the cryptos biggest scam.

I wanna personally know from people who have been in crypto for little longer than I have and maybe know a few things more or could share their personal view on Tether.

My side question to this would also be: Which type of stablecoin do You find the most credible in the Crypto space?

Thanks in advance for more experienced folks for sharing their insight!

Of course, if you choose from two coins, let's say USDT and USDC are widely accepted, but differ in their usefulness. USDT is the most traded cryptocurrency with the highest 24 hour volume, while USDC is considered to be the safest store of funds as it is audited annually, here I would choose whichever is more reliable.

[Games.Bitcoin]

Tether is one of the most widely used stablecoins in the cryptocurrency market and is designed to maintain a 1:1 peg with the US dollar. It has been subject to scrutiny and controversy in the past regarding its transparency and claims of insufficient backing reserves. It's important for individuals and investors to conduct their own research and due diligence when considering the use or trustworthiness of any stablecoin or cryptocurrency.

[Rampagoe004]

What is the reason they say that Tether is the biggest scam? Are they seeking public attention for their content?
Tether is the best stablecoin in my opinion. I've been using Tether as my transaction tool for a long time.

Logically if Tether is a problem why are they still around today? How come we never once heard that they were in trouble? I think Coffezilla is doing some shit and something that doesn't make any sense.