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Author Topic: reasons why someone wants to pay in tether and not bitcoin?  (Read 598 times)
blockman
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March 05, 2023, 09:59:17 PM
 #41

Despite that Tether has a stable value and people are aware that it can freeze anyone's asset anytime and have it blacklisted, they're choosing it because it's exempted from volatility.
And as we all know bitcoin, if someone wants to pay it, he's paying it depending on the market's value in real-time. That's why we get to see campaigns and other services getting paid in bitcoin based on USD value from the very moment the payment will be sent, so, as it's volatile the value might change and it's not stable.

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March 05, 2023, 10:00:56 PM
 #42

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?
Probably, that user don't want to lose any value after making a transaction since Bitcoin is very volatile while a stablecoin is not.
I usually asked for a USDT payment from someone since I know the volatility of the market, and it has been my stablecoin which I can be used anytime to buy Bitcoin or altcoins if i see some opportunity. This will also depend on a mode of transaction, since USDT are way more cheaper compare to BTC transaction.
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March 05, 2023, 10:14:00 PM
 #43

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.   



Tether being a stable coin solve the volatility problem of Bitcoin.  Some people wanted to pay in tether because of the reason that they don't have to worry about the high price fluctuation since theter is pegged to $1, if there is any discrepancy it is just a small amount which is almost negligible.


Could there be any reason for tether being advantageous in such transaction?

The advantage of tether in a transaction is it's being stablecoin that is pegged to the dollar.  The user doesn't have to worry about being short of funds in paying for merchandise because of the price crashing if they just have enough funds for the item.
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March 05, 2023, 10:30:50 PM
 #44

What could be the reason for someone wanting to pay in Tether and not bitcoin? 
People have their reasons which could range from any of the following
  • trying to get transactions faster confirmation times
  • to avoid always have to know if network is clogged and paying more as transaction fees aren't consistent with BTC
  • Could be as simple as ones preference

my understanding is that using bitcoin, you will not have to worry about your crypto being frozen.   
Definitely one of the reasons,btw frozen sounds harsh of a word prefer suck as it's temporary and in rare cases transactions get dropped...

Could there be any reason for tether being advantageous in such transaction?
Tether exists on different blockchains by the way and you could be spending a tiny fraction in fees to send to a different party and value is locked in...if you sending a dollar it Will always be a dollar unlike BTC which could be plus or negative because market conditions are continuously changing!

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March 05, 2023, 10:43:15 PM
 #45

Tether might be the best option for a stablecoin though I don’t know the reason why your account will be freeze if you do make transactions using USDT, not unless you use a not good exchange here but if you use your hard wallet or any personal wallet, I guess it should be fine. The price of Bitcoin fluctuates, that could be the main reason why some are not ok to accept payment in Bitcoin, they want to preserve the value of their money and we all have a choice for this.

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March 06, 2023, 03:05:56 AM
 #46

I think there could be several reasons why someone may want to pay in Tether (USDT) instead of Bitcoin (BTC):

1. Stability: Tether is a stablecoin, which means that its value is pegged to a stable asset, such as the US dollar. This makes it more stable in terms of price fluctuations compared to Bitcoin, which is known for its high volatility. If someone wants to transact in a cryptocurrency that has a more stable value, they may choose Tether over Bitcoin.
2. Speed: Tether transactions typically have faster confirmation times compared to Bitcoin due to Tether's lower network fees and higher transaction throughput. This could be an advantage in situations where speed is important, such as for day-to-day transactions or for trading on cryptocurrency exchanges.
3. Liquidity: Tether is one of the most widely used cryptocurrencies and has a high level of liquidity. This means that it can be easily exchanged for other cryptocurrencies or fiat currencies, making it a more convenient choice for some users.
4. Reduced counterparty risk: In some cases, Tether may be preferred over Bitcoin due to the potential counterparty risk associated with holding Bitcoin. Tether is issued by a company that claims to hold reserves of US dollars to back the value of the coin, which could provide some users with a greater sense of security and trust compared to Bitcoin.

although there are also risks associated with Tether, such as concerns around its reserve holdings and its role in market manipulation. It's always important to do your own research and consider the potential risks and benefits before transacting in any cryptocurrency.

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March 06, 2023, 04:50:38 AM
 #47

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?
I have transfer tether between with friends several times. It was a great way to list these stablecoins as they arrived instantly and their amount was accurate. In bitcoin, you would have to wait a certain amount of time. It all depends on the parameters at which it is sent. Recently, the payment for the bounty campaign from the manager went to my wallet for 10 hours.

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March 06, 2023, 05:41:43 AM
 #48

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?
I have transfer tether between with friends several times. It was a great way to list these stablecoins as they arrived instantly and their amount was accurate. In bitcoin, you would have to wait a certain amount of time. It all depends on the parameters at which it is sent. Recently, the payment for the bounty campaign from the manager went to my wallet for 10 hours.


Besides the long confirmation time, the volatility of bitcoin is also a reason, I really don't want to pay in bitcoin because I don't want to incur any additional loss if bitcoin volatility. Bitcoin could be profitable in the future so using it really feels wasteful, while tether or stablecoin is not profitable and is no different from fiat, so I would use that instead of bitcoin.

To me, bitcoin is an asset, an investment. I am trying to accumulate as many bitcoins as possible, I only use them when I have no other choice, other than that, I will hold them until I reach my goal.

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March 06, 2023, 06:18:42 AM
 #49

I'd use stablecoin to pay too, I don't want to waste my Bitcoin, I haven't spent any of it for all years I'm buying it.
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March 06, 2023, 08:18:08 AM
 #50

They just don't want to have a technical crypto market where they need to wait for a price pump when the price of bitcoins suddenly crashed or when it is suffering a bearish wave. Because when you have Tether, you won't gonna be worried about the price volatility but you won't have a chance to multiply your profits also you need to understand that, having USDT in your wallet does not mean like having bitcoins because no one is there to freeze your account, but when you holding Tether, you are recommended to withdraw it as soon as possible to avoid such things to happen or something like that because it is centralized, unlike Bitcoin.

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March 06, 2023, 08:20:32 AM
 #51

Maybe they prefer to pay with Tether and keep the bitcoins for long term purposes. If they pay with bitcoins, they have to wait for the bitcoin price to rise before they can convert their bitcoins to stable coins and then send them to their bank account.

But when they pay with Tether, the amount they pay doesn't change and they can send it right away. They can use a cheaper network for the cost problem to solve that matter. Maybe the only reason is that the amount you sent has not changed.

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March 06, 2023, 08:39:37 AM
 #52

The charges for tether I believe is lower than that of Bitcoin. Bitcoin is more volatile and as such prices may vary within seconds of a transaction. Hence why it is first exchanged for tether which is more stable.
Besides this, maybe such persons learnt how to pay for transactions that way. It is now like a culture or tradition for certain transactions.

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March 06, 2023, 08:52:12 AM
 #53

Maybe they prefer to pay with Tether and keep the bitcoins for long term purposes. If they pay with bitcoins, they have to wait for the bitcoin price to rise before they can convert their bitcoins to stable coins and then send them to their bank account.

But when they pay with Tether, the amount they pay doesn't change and they can send it right away. They can use a cheaper network for the cost problem to solve that matter. Maybe the only reason is that the amount you sent has not changed.

The changes or the movement in price are affecting those who understand how crypto market works. They will choose to pay in Tether as there's no movement in terms of value, aside from fiat pairs, I guess.

But with Bitcoin, if you are unlucky and the timing is not right, you'll lose your opportunity to earn decently,
as the market movement is unpredictable with crypto/bitcoin, the value can pump up or dump down in any
moment of time.
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March 06, 2023, 09:32:10 AM
 #54

Of course it's all because the price is stable.  Tether has a stable price so if you have bought $400 on USDT it is almost certain it will be a fixed price unlike Bitcoin where it will fluctuate in price.  But if you want to speculate for profit then of course BTC is a good choice in my opinion.

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March 06, 2023, 10:10:53 AM
 #55

People had chosen Tether or stablecoin not because they don't want to spend their Bitcoin, in fact, they are converting it to Tether. But because of the volatility of Bitcoin, unlike stablecoins.

Actually, there is no problem with paying in Bitcoin but if they don't accept it, then we have no choice but to pay with Tether. And this is another reason that urges them to just use a tether instead of Bitcoin, it was because the receiving party doesn't accept it.

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March 06, 2023, 02:08:30 PM
 #56

Besides the long confirmation time, the volatility of bitcoin is also a reason, I really don't want to pay in bitcoin because I don't want to incur any additional loss if bitcoin volatility. Bitcoin could be profitable in the future so using it really feels wasteful, while tether or stablecoin is not profitable and is no different from fiat, so I would use that instead of bitcoin.

To me, bitcoin is an asset, an investment. I am trying to accumulate as many bitcoins as possible, I only use them when I have no other choice, other than that, I will hold them until I reach my goal.
Willing to accept USDT makes sense, I would definitely accept that if I could, or even BUSD would do, because those two things are a lot more stable and whenever I get paid, I change most of my bitcoins into BUSD right away anyway, I leave some btc for investment reasons of course but that's another subject.

So that means when being paid, bitcoin is both a lot more expensive to use, and it is a lot slower, and at the same time it is more volatile, all of which is a reason not to use it. I personally believe that if you use BUSD instead for payments, that would be a lot better because it is quicker, cheaper, and stable all at the same time, much better end result.

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March 06, 2023, 06:38:39 PM
 #57

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?
I have transfer tether between with friends several times. It was a great way to list these stablecoins as they arrived instantly and their amount was accurate. In bitcoin, you would have to wait a certain amount of time. It all depends on the parameters at which it is sent. Recently, the payment for the bounty campaign from the manager went to my wallet for 10 hours.


Besides the long confirmation time, the volatility of bitcoin is also a reason, I really don't want to pay in bitcoin because I don't want to incur any additional loss if bitcoin volatility. Bitcoin could be profitable in the future so using it really feels wasteful, while tether or stablecoin is not profitable and is no different from fiat, so I would use that instead of bitcoin.

To me, bitcoin is an asset, an investment. I am trying to accumulate as many bitcoins as possible, I only use them when I have no other choice, other than that, I will hold them until I reach my goal.

Yes, Tether has many advantages, such as anonymity.
Also, if you paid for something via Tether, you will always know how much you spent at that moment. Even if you look at this transaction after a long time. As for bitcoin, you will have to find out what the price was for it at that moment in order to understand how much it cost in dollars.

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March 07, 2023, 06:07:22 AM
 #58

Maybe they prefer to pay with Tether and keep the bitcoins for long term purposes. If they pay with bitcoins, they have to wait for the bitcoin price to rise before they can convert their bitcoins to stable coins and then send them to their bank account.

But when they pay with Tether, the amount they pay doesn't change and they can send it right away. They can use a cheaper network for the cost problem to solve that matter. Maybe the only reason is that the amount you sent has not changed.

The changes or the movement in price are affecting those who understand how crypto market works. They will choose to pay in Tether as there's no movement in terms of value, aside from fiat pairs, I guess.

But with Bitcoin, if you are unlucky and the timing is not right, you'll lose your opportunity to earn decently,
as the market movement is unpredictable with crypto/bitcoin, the value can pump up or dump down in any
moment of time.
So each person who chooses to accept Tether payments must have their reasons. Many of them don't really like price movements that are too volatile, so they choose Tether, which doesn't move too fast. They can also use Tether to buy other coins when the market is down, giving them a bigger amount.

But if they use bitcoin, there is also no problem because if they can hold it for a long time, they can definitely get big profits. But it will come back to their business strategy because they can use the money they get to develop their business so they prefer Tether, which doesn't fluctuate too often.

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March 07, 2023, 01:11:28 PM
 #59

Besides the long confirmation time, the volatility of bitcoin is also a reason, I really don't want to pay in bitcoin because I don't want to incur any additional loss if bitcoin volatility. Bitcoin could be profitable in the future so using it really feels wasteful, while tether or stablecoin is not profitable and is no different from fiat, so I would use that instead of bitcoin.

To me, bitcoin is an asset, an investment. I am trying to accumulate as many bitcoins as possible, I only use them when I have no other choice, other than that, I will hold them until I reach my goal.
Willing to accept USDT makes sense, I would definitely accept that if I could, or even BUSD would do, because those two things are a lot more stable and whenever I get paid, I change most of my bitcoins into BUSD right away anyway, I leave some btc for investment reasons of course but that's another subject.

So that means when being paid, bitcoin is both a lot more expensive to use, and it is a lot slower, and at the same time it is more volatile, all of which is a reason not to use it. I personally believe that if you use BUSD instead for payments, that would be a lot better because it is quicker, cheaper, and stable all at the same time, much better end result.

In terms of payments, stablecoins are actually far more dominant than bitcoin, both cheap transaction fees and almost instant confirmation time, very convenient. But did you miss the recent news about BUSD? I think BUSD is no longer safe and may not be around much longer in the market. I would still believe in USDT more than any stablecoin, many people think USDT is unsafe, but by far, it is the largest and most used stablecoin on the market.

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March 07, 2023, 01:24:20 PM
 #60

Bitcoin has volatility like it can pump or dump anytime. That's why some people don't like Bitcoin. They feel comfort with stable coins like Tether or any other stable coins. There could be more reason.

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