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February 12, 2023, 07:43:03 PM |
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Those who want to stay away from volatility would prefer stable currency over bitcoin. However, they are unaware of the possible dangers of receiving stable money. In the same way, people who want to pay with tether are ignorant of the danger of frozen funds. We could simply research the Terra stable coin drama. how a lot of money was lost by people. We must learn lessons from the past mistakes.
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Pmalek
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February 13, 2023, 06:59:41 PM |
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So it costs $1.7 on average at the current price to send them, it's certainly lower than the price you would need to pay to send a Bitcoin transaction on chain at the same speed today, that is to say a tx to be mined into the very next block. It's not a fair comparison to start with. Bitcoin has a block time of 10 minutes on average, while Tron is 3-4 seconds. Despite the Bitcoin mempool being congested right now, I doubt you would have to pay more than $1 in total for an average-looking transaction involving Bech32 addresses for a quick confirmation (whenever that is). Multiple inputs and outputs is another think though.
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Rikafip
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February 13, 2023, 09:17:04 PM Last edit: February 13, 2023, 09:49:33 PM by Rikafip |
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Those who want to stay away from volatility would prefer stable currency over bitcoin. However, they are unaware of the possible dangers of receiving stable money. In the same way, people who want to pay with tether are ignorant of the danger of frozen funds. We could simply research the Terra stable coin drama. how a lot of money was lost by people. We must learn lessons from the past mistakes.
While majority of people have no idea that stablecoins can be frozen even if you hold them in your own non-custody wallet, certain amount of users are aware of the risks but they are using it nevertheless (the same goes for pro traders that are using CEX even though they know the risks). After all, using doesn't automatically mean that you are holding it for longer period of time and that's what is the most dangerous part. Btw not advocating for the use for stablecoins, just saying that if you use something doesn't automatically mean that you don't know the risks.
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Cryptomultiplier
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February 13, 2023, 09:49:52 PM |
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I have been using tether for some time now during my transactions because it is more stable if it is your wish to withdraw A.S.A.P. I mean, Bitcoin is volatile and although one can make more gains during payouts rather than on the receiving end, the charges tether offer is low too. Other coins with lower volatility rates exist, tether has more customers in this side of the world.
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Crypto Library
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February 13, 2023, 10:01:59 PM |
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What could be the reason for someone wanting to pay in Tether and not bitcoin?
Because Tether usdt is a stable coin. When you go for making a payment in bitcoin, you may have to queue for confirmation on the blockchain and sometimes it takes a lot of time. Since bitcoin is a volatile coin, its price fluctuates, so in most cases, tether became a choice for them to avoid this. After seeing your post I have visited coinmarket cap for seeing their both trading volume and I have seen that in 24h USDT volume is much bigger than Bitcoin. However, although the volume is high, the security of Bitcoin is much higher than Tether. So if you have lazy fund and you wanna hold in crypto bitcoin will be a best option for you. But you can use tether to avoid volatility for a transient transactions.
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jerry0
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February 19, 2023, 02:42:15 AM |
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tether is traceable just like btc right? So there isn't anything involving that?
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Yatsan
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February 19, 2023, 02:32:16 PM |
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Guilt probably? Payong in Bitcoin is doubtful to most of the investors in this industry. Reason is simply profit potential. Hding will generate profit ofcourse, especially during market price increase. Which is why some users do prefer using dtable coins for transactions. In such they won't hesistate since they are simply paying the same amount of a certain value. This is also the reason why Bitcoin's emergence and adoption is being slowed nowadays. People would prefer using this chain as an investment because it is more beneficial. The tendencies of this technology being used for payments are probably on big transactions to avoid taxes across countries.
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Xal0lex
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February 19, 2023, 03:28:21 PM |
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Very often the reason is that not all bitcoins pass aml checks, so some people find it easier to pay in USDT than in bitcoins. Another reason is that bitcoin commissions are sometimes off the charts and they are very slow. In some networks a USDT transfer can cost a couple of cents and transfer time will not take more than a couple of minutes. Bitcoin blockchain is slow and expensive. Now, because of increased volatility, bitcoin network commissions sometimes reach several dollars.
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uneng
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February 19, 2023, 03:50:30 PM |
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People can still deal with bitcoin payments while avoiding its volatility. All they have to do is to withdraw btc to local currency right after they execute the negotiation. This way there is no advantage for stablecoins in comparision to bitcoin, as stability is the only benefit stablecoins can offer. Then if you neutralize bitcoin's volatility by doing what I mentioned above, the cons of stablecoins will be emphasized, especially due to the lack of guarantees (coverage) issued by the central organization behind them to peg the price in 1 : 1 to dollar.
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Bobrox
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February 19, 2023, 04:04:10 PM |
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Stable coins have stable price and not really drop or up drastically like Bitcoin, many people still interested with payment using tether than Bitcoin because for long term convert to be fiat still profitable or not loss when using tether or stable coin, but have two possibility when using payment with Bitcoin between price going drop or pump when convert it in fiat.
There are not problem with every one accepted payment with tether than Bitcoin, my friend have influencer side job and all his costumer more priority payment using tether than Bitcoin.
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michellee
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February 19, 2023, 04:18:35 PM |
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What could be the reason for someone wanting to pay in Tether and not bitcoin?
my understanding is that using bitcoin, you will not have to worry about your crypto being frozen.
Could there be any reason for tether being advantageous in such transaction?
As many members have said, volatility is something not everyone likes so they may prefer holding Tether to Bitcoin. Even though by holding bitcoin, they can get more profit if they keep holding it and only sell it after the price goes up high. But we also can't force them to accept payments with Bitcoin if they don't like it and prefer to accept Tether. But other businesses may offer altcoins or even stable coins like Tether in addition to Bitcoin as the main payment in addition to accepting other payment methods.
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Wiwo
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February 19, 2023, 04:35:02 PM |
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Some have all their stash in Tether USD and others in Bitcoin traders most especially like to DCA and at that will like to hold the balance in stablecoins tether is the most popular stable coin and with relatively low fees and fast transactions, and so many other reasons are why some choose to use the tether compared to Bitcoin. -But we still have a large number of other cryptocurrency holders who will prefer Bitcoin to USTD.
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o48o
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February 19, 2023, 04:55:03 PM |
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What could be the reason for someone wanting to pay in Tether and not bitcoin? my understanding is that using bitcoin, you will not have to worry about your crypto being frozen. Could there be any reason for tether being advantageous in such transaction?
Among the many reasons starting from volatility of btc, your usdt is not getting frozen for no reason. And if you are involved in some big heist or something, it's likely that your bitcoin addresses are flag and your CEX fiat ramp will froze your account when you eventually try to cash out. Even washing that money is soon difficult because of fatf rules. I totally understand that someone is paying with btc or gets paid with btc out of principle. But i being afraid that government seizes your pocket money seems paranoid and give way too much credit for any governments capacity to focus on something like that.
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Wiwo
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February 19, 2023, 09:16:06 PM |
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tether is traceable just like btc right? So there isn't anything involving that?
Traceable, what do you mean by that I am sure it is easier to trace tether since it is centralized and under the control of the team, which makes it possible for it to be locked even while it is in your private wallet. -But Bitcoin on the other hand have the freedom from external influences which makes it easier for both holders and merchants to have total control and freedom over their Bitcoin holding.
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GreatArkansas
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February 19, 2023, 10:35:04 PM |
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tether is traceable just like btc right? So there isn't anything involving that?
Traceable, what do you mean by that I am sure it is easier to trace tether since it is centralized and under the control of the team, which makes it possible for it to be locked even while it is in your private wallet. -But Bitcoin on the other hand have the freedom from external influences which makes it easier for both holders and merchants to have total control and freedom over their Bitcoin holding. I think this is not the issue for OP. The goal of OP is to pay someone with cryptocurrency which is either Bitcoin or USD Tether(USDT). So for me, there are a lot of payment processors now that accept both cryptocurrencies or even other alternative cryptocurrencies. Using USDT Tether for me is like using fiat currencies in a digital way, you can avoid the volatility of cryptocurrencies.
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abel1337
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February 19, 2023, 11:26:56 PM |
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tether is traceable just like btc right? So there isn't anything involving that?
Traceable, what do you mean by that I am sure it is easier to trace tether since it is centralized and under the control of the team, which makes it possible for it to be locked even while it is in your private wallet. -But Bitcoin on the other hand have the freedom from external influences which makes it easier for both holders and merchants to have total control and freedom over their Bitcoin holding. I think this is not the issue for OP. The goal of OP is to pay someone with cryptocurrency which is either Bitcoin or USD Tether(USDT). So for me, there are a lot of payment processors now that accept both cryptocurrencies or even other alternative cryptocurrencies. Using USDT Tether for me is like using fiat currencies in a digital way, you can avoid the volatility of cryptocurrencies. Though there are still business who accepts crypto payment that doesn't have these payment processors, Most of them are small businesses and just starting their way to accept crypto payments. I believe those business is just doing p2p transactions which is somehow inefficient given the amount of time waiting for transaction confirmation and also the transaction fee. Somehow they prefer do accept crypto payment as well as being stable as I believe it is more suitable for small business at the same time. USDT is available on different blockchains which is more viable to fast transaction speed.
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Wiwo
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February 19, 2023, 11:39:21 PM |
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tether is traceable just like btc right? So there isn't anything involving that?
Traceable, what do you mean by that I am sure it is easier to trace tether since it is centralized and under the control of the team, which makes it possible for it to be locked even while it is in your private wallet. -But Bitcoin on the other hand have the freedom from external influences which makes it easier for both holders and merchants to have total control and freedom over their Bitcoin holding. I think this is not the issue for OP. The goal of OP is to pay someone with cryptocurrency which is either Bitcoin or USD Tether(USDT). So for me, there are a lot of payment processors now that accept both cryptocurrencies or even other alternative cryptocurrencies. Using USDT Tether for me is like digitally using fiat currencies, you can avoid the volatility of cryptocurrencies. Yes, there is not much difference between the tether and the United States dollar and the only difference is that while the dollar is a traditional currency, the tether on the other hand is a blockchain-based cryptocurrency that has a stable price and it's a peg to the US dollar on a 1:1 ratio. But then with tether, one can easily pay for a service with low fees and faster transactions compared to the high fees and slow transactions in the traditional dollar systems. -Tether is a centralized currency, but with some elements of cryptocurrency since its run on the blockchain but is controlled by a third party, which limits the right of the holders over their coins.
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gaston castano
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March 05, 2023, 04:15:12 PM |
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because they want the security and stability of the this coins, and also tether is a stable coin with the largest market capitalization. stable coins can also prevent temporary price volatility where the crypto market is very volatile, thus avoiding the loss of reducing the value of a coin if we save usdt.
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ichsan ardi
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Tontogether | Save Smart & Win Big
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March 05, 2023, 06:10:36 PM |
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What could be the reason for someone wanting to pay in Tether and not bitcoin?
my understanding is that using bitcoin, you will not have to worry about your crypto being frozen.
Could there be any reason for tether being advantageous in such transaction?
The buying trend of Dogecoin, Shiba Inu and Floki Coin can be caused by various factors, including their popularity on social media and cryptocurrency markets. For example, Elon Musk once gave public support to Dogecoin which then made the price of Dogecoin soar. In addition, Shiba Inu is also often referred to as "Doge Killer" by some people, because this coin is similar to Dogecoin. Meanwhile, the buying trend of Floki Coin may be related to the hype that occurred after Elon Musk announced that one of his dogs was named Floki. indeed this was very hype at that time what else was the influence of elon musk, many people wanted to buy the coin just wanted to follow the hype
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Dragonfund
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March 05, 2023, 09:57:08 PM |
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What could be the reason for someone wanting to pay in Tether and not bitcoin?
my understanding is that using bitcoin, you will not have to worry about your crypto being frozen.
Could there be any reason for tether being advantageous in such transaction?
They each have advantage and disadvantage, the reason why people want to pay or accept USDT is that it doesn't fluctuate like the way bitcin does, it is 1 dollar equivalent to 1 USDT and can be redeem into cash if you so wish to that over the counter in Tether office but the problem with it is that, it is centralized, it can be frozen if Tether that issued them feel you vilolated their policy but bitcoin on the other hand is not centralized, it has no middle man, you can redeem it into a cash but the problem with it is that, it has volatility and do crash when there is bad news.
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