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Author Topic: USDT vs Bitcoin  (Read 802 times)

Offline Maxwell99

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USDT vs Bitcoin
« on: February 24, 2024, 05:38:47 PM »
USDT and Bitcoin sever different purposes. When comparing the two also remember that USDT is a stablecoin which make it easy and useful for sending and receiving payments. It's tied to us dollar. It's also for storing and saving value. However Bitcoin is a decentralized crypto, a crypto currency that's not tied to any central bank. It's for storing of value and as a means of exchange, it appreciate in value overtime.  Which of this cryptocurrency is better depends on your goals.USDT is built on the Ethereum, with smart contract . USDT is use to power a wide range of applications example Defi platform, NFTs and etc. Bitcoin is  also built on its own Blockchain,  it's not programmable in same way.Bitcoin is mainly use for storing value and for payments. Bitcoin has fixed supply l, while usdt is not capped.Bitcoin and USDT are different in their transaction speed and fees. Bitcoin transaction are slow transaction and higher fees, USDT on the other hand are fast in transaction because of Ethereum network uses a proof of stake consensus. Bitcoin network are more secure than the Ethereum network, because it has a large network of nodes and miners.

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USDT vs Bitcoin
« on: February 24, 2024, 05:38:47 PM »

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Offline Cantsay

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Re: USDT vs Bitcoin
« Reply #1 on: February 24, 2024, 08:02:21 PM »
There are so many wrong inputs here.

USDT is built on Ethereum, with smart contracts.

Not just Ethereun network, USDT is also built on several other networks, including OMNI, Trons, Binance smart chance (BSC), etc.

Quote
Bitcoin and USDT are different in their transaction speeds and fees. Bitcoin transaction are slow transaction and higher fees, USDT on the other hand are fast in transaction because of Ethereum network

Again, not true. The gas fee for USDT depends on what network you`re working with, and the network you used as an example here (Ethereum) requires a higher fee compared to bitcoin at the time I made my post.
I just checked my wallet, and to send my USDT, I need $7.47 worth of Eth to transact it, while the "high priority fee for Bitcoin is 13 sat/vB ~$0.94", and with this fee, your transaction should be able to get a confirmation in a short period of time.

It would be best if you learned something first before you started creating comparison threads.
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Offline CryptoLaila

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Re: USDT vs Bitcoin
« Reply #2 on: February 24, 2024, 08:40:01 PM »
Quote from: Maxwell99 link=topic=318276.msg1505458#msg1505458
Snip
I know you made your little research  to make this post, so don't feel bad  when you get corrected just take it as part of gaining more knowledge.
From your post you were only talking about the ERC-20 network but there are couple other which have been  listed for you(BEP 2 BEP 20,TRON,BSC alot)
Ethereum gas fees are kinda high but depending on the exchange it could take at least $1 to send $10 worth of USDT.
For btc using a non custodial wallet or the bitcoin core gives the choice of calculating your inputs and outputs  along with v/bytes to determining your fee and this v/bytes varies with how congested the mempool is.Making transactions With lower fee while the mempool is congested could make transactions wait for days, even weeks or months until the mempool gets less congested and miners are willing to mine at your fee rate .
Can't start busting it all here but you could do more research on your own  :)

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Re: USDT vs Bitcoin
« Reply #3 on: April 12, 2024, 10:42:00 PM »
 Guy I don't know if you are still here in the forum. When you want to make such distinguish, and you don't know the differences clearly then you have to make small browsing so that you won't misleading people again. This your thread like is full with wrong information. Which one is "USDT is built in Ethereum"? Well your profile too has been strike with possible spamming. But you can still edit your information here in the thread if you still available.

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Re: USDT vs Bitcoin
« Reply #4 on: April 13, 2024, 12:01:00 AM »
OP, it is good you ventured into a research or study of this nature. Although not really clear but I believe that you have been able to get more insight just by doing this little research of yours. However, most of the information you have presented here looks not realistic. Just as other members here have corrected you, I too have seen mistakes which is misleading and I will advise you edit and effect your corrections immediately and do well to do a good research findings before bringing it up here as this platform is filled with people with knowledge about the system and those that are new to the system. Such information can be misleading to them.
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Offline Charles-Tim

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Re: USDT vs Bitcoin
« Reply #5 on: April 13, 2024, 03:38:08 PM »
There are so many wrong inputs here.

USDT is built on Ethereum, with smart contracts.

Not just Ethereun network, USDT is also built on several other networks, including OMNI, Trons, Binance smart chance (BSC), etc.
He can be wrong in the second quote but he is not wrong about this one. USDT is built on Ethereum blockchain is right but you can let him know that here are other networks that have USDT as tokens. I think Tron even has the larger percentage of the token. Some others are the solan and polygon network etc and layer 2 like optimism and arbitrum etc.

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Re: USDT vs Bitcoin
« Reply #6 on: April 13, 2024, 09:37:33 PM »
I don't think it is because USDT is a stablecoin and that is why the network is very fast. But it is because the traffic is like much since it is not volatile like bitcoin. Stablecoins are not really too good for people because they think that it would not give them any profit because it is in one one place for a very long time. People like to keep coins in USDT for selling or buying so that they would not lost in the process.

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Re: USDT vs Bitcoin
« Reply #6 on: April 13, 2024, 09:37:33 PM »


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Re: USDT vs Bitcoin
« Reply #7 on: April 18, 2024, 01:55:53 AM »
Every crypto currency has a unique advantage of feature over the others except some shit coins. So weather you buy Bitcoin or usdt, it depends on your choice or value. For an investor who wants his initial capital to appreciate over the long run then Bitcoin is for you. While for a trader who always uses his coins for daily purchases and might not want it's value to depreciate due to volatility of the market then you may consider using a stable coin. But what ever you chose to use, you have to know that the power bitcoin holds is far more different from rest altcoins.

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Re: USDT vs Bitcoin
« Reply #8 on: April 18, 2024, 03:29:16 PM »
I don't think it is because USDT is a stablecoin and that is why the network is very fast. But it is because the traffic is like much since it is not volatile like bitcoin. Stablecoins are not really too good for people because they think that it would not give them any profit because it is in one one place for a very long time. People like to keep coins in USDT for selling or buying so that they would not lost in the process.
There is no need for the comparison of bitcoin to USDT because it does not worth it. USDT is stable and centralized, and that is why it is still the same with fiat usd. Bitcoin might have one or two challenges in fees due to mempool congestion, but that does not mean that it should be compared with vegetables.

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Re: USDT vs Bitcoin
« Reply #9 on: May 15, 2024, 07:06:12 PM »
I don't think it is because USDT is a stablecoin and that is why the network is very fast. But it is because the traffic is like much since it is not volatile like bitcoin. Stablecoins are not really too good for people because they think that it would not give them any profit because it is in one one place for a very long time. People like to keep coins in USDT for selling or buying so that they would not lost in the process.
There is no need for the comparison of bitcoin to USDT because it does not worth it. USDT is stable and centralized, and that is why it is still the same with fiat usd. Bitcoin might have one or two challenges in fees due to mempool congestion, but that does not mean that it should be compared with vegetables.
Usdt is mostly used to secure investment especially when trader are trading and there is market fluctuations like uncalled dip at this point the trader can easily stop trading and secure their funds in exchange using usdt or any stable coin on exchange such dai, usdc and any other currency that serves as stablecoin. I don't they should be compared together because both has no similarities and one is centralized while the other is decentralized currency.

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Re: USDT vs Bitcoin
« Reply #10 on: May 15, 2024, 09:53:39 PM »
Usdt is mostly used to secure investment especially when trader are trading and there is market fluctuations like uncalled dip at this point the trader can easily stop trading and secure their funds in exchange using usdt or any stable coin on exchange such dai, usdc and any other currency that serves as stablecoin. I don't they should be compared together because both has no similarities and one is centralized while the other is decentralized currency.
Those who dey always sell coin nai dey use USDT pass. Me I no even remember when last I keep or sell coins in USDT. I like to sell my coin in BTC. Though USDT is good to keep coins as you said because the fluctuating is minimal and not like bitcoin and Ethereum. And the first time when I noticed USDT it was a boy in compound used to buy USDT and sell it within a week. I have bought from him too but I still convert it to bitcoin and sell it.

 

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