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As we know Tether is getting pumped from time to time. Do you think it will be a fraud at some point? If yes , than why ?
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Bitfinex and tether are likely doing a lot of illegal activity. No one knows how long it could take US to force a shut down, but in this event the value of tether would likely crash to almost zero.
I don’t think exchanges have added risk by using tether pairs because I doubt that they hold any tether themselves. Exchanges make money primarily by customers exchanging, NOT by the stability of the pairs they offer.
This is not financial advice but personally I sold everything after the subpoena news (luckily for a nice profit) and I think anyone with money still in the market after the subpoena news is at serious risk.
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Tether is fraud. Everyone knows that Tether and Bitfinex have one owner. During growth bitcoin last year, a large sum of money was poured into Bitfinex.
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Tether is fraud. Everyone knows that Tether and Bitfinex have one owner. During growth bitcoin last year, a large sum of money was poured into Bitfinex.
Tether is a big scam, like Bitconnect. When it will be revealed, the Ethereum will make a big dump because they have a large volume in USDT
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Well with tether I don't really know more about it hence I don't really how it is been managed ,but all will say is about vigilant.
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I think it likely is a scam.. even if the numbers differentiate at ALL from what they have locked up, it just goes to show that this thing is garbage.. I think we are playing with fire on this one.. and I know people love it because of the safe haven of the safe haven type mentality.. but overnight it could goto zero and catch you completely off guard.. use at your own risk!
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Hello everybody. I think that Tether is the most important fraud in the crypto-currency world due to the increase in the number of tokens at the time of Bitcoin's fall.
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of course it will be very bad if USDT turns out to be bad for use. I have long been eyeing the opportunity to use it as a repository for my funds in dollar terms. But many negative reviews do not allow me to make the right decision.
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I do not know about this, but it seems to me that in the crypto currency this coin is very necessary
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Is that really @trons? This surprised me a lot because I became one of the Tether coin holders. So, what should I do with my current Tether coin? Should I sell even though I will lose?
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For USDT, TUSD, Tether experienced a rapid decline and increase, so be careful because this coin is the same price as FIAT USD.
Believe this coin continues to be stable.
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All of us are blinded of what is happening in the near future because we don't know yet if the coins will play very well or it will dump rapidly so we must be careful and ensure put up investment is properly review.
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Maybe. No audit, no real proof of money existing, nothing. If USDT crash this will disaster.
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Maybe. No audit, no real proof of money existing, nothing. If USDT crash this will disaster.
If you're holding Tether it looks like a bit of a disaster at the moment, but if you're holding REAL crypto then it's a great day ;D
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i think yes. They don't have audit, no proof of money backing, they're not transparent. We don't know how many dollars they have for their token. They can print when they want. Use Dai it's better.
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I am not 100% sure of scam, but there are a couple of facts. Each time tether portion is arriving on bitfinex BTC price is moving. So likely they are doing some pump or dumps. The coin has no audit, it is really crazy but true.
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no, the USDT price is very stable, I think this will go into the top 5 cryptocurrency capitalization in the future.
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The “Is Tether a fraud” question isn’t new. For at least a year market participants have been asking. Tether may represent a systemic risk to the cryptocurrency market since it is widely used as a stable asset to store buying power
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no, the USDT price is very stable, I think this will go into the top 5 cryptocurrency capitalization in the future.
I think the opposite, but that TrueUSD, USD Coin and Paxo will all slowly infiltrate the top 100 followed by the top 40/50.
Tether is done. It will just be a slow sell off from here in my opinion, the value and current growth of "alternative" stable coins, that are regulated and actually backed by the US dollar, confirm this to me. I'm not a fan of stable coins, but I can see the attraction of reliable ones that are emerging.
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Maybe. No audit, no real proof of money existing, nothing. If USDT crash this will disaster.
If you're holding Tether it looks like a bit of a disaster at the moment, but if you're holding REAL crypto then it's a great day ;D
Well, 5% price down is nice for sure.
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This depends on those who believe in holding USDT Tether coins because BUSD, also a stable coin made by Binance, has now been removed from the market and withdrawn by Cz so that it does not circulate due to various regulatory factors from the SEC, but BUSD and USDT Tether are clearly very different in history and creation.
No, I assure you that USDT Tether will not be a fraud because USDT Tether has a lot of real money reserves and yesterday I also read an article about USDT Tether, namely the money reserves are around 86% of the total USDT Tether in circulation.
It's indeed minus -14%, but for such a very large reserve value, it proves that USDT Tether is a real stable coin and will not be a fraud. In My Opinion.
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the money reserves are around 86% of the total USDT Tether in circulation.
It's indeed minus -14%, but for such a very large reserve value, it proves that USDT Tether is a real stable coin and will not be a fraud. In My Opinion.
If money reserves are around 86% of USDT, USDT is 100% fraud :D
What's backing USDT? Tether Reserves Breakdown (http://What's backing USDT? Tether Reserves Breakdown)
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the money reserves are around 86% of the total USDT Tether in circulation.
It's indeed minus -14%, but for such a very large reserve value, it proves that USDT Tether is a real stable coin and will not be a fraud. In My Opinion.
If money reserves are around 86% of USDT, USDT is 100% fraud :D
I also think like that because the value of minus 14% is very large and it would be crazy if it was actually -14% of USDT from US Dollar.
But what's strange is how come USDT continues to exist to this day and the results cannot be underestimated, even though the entire market for USDT coins has a very large market cap.
Hopefully we can see the best from USDT because it seems like USDT has many problems but is able to overcome them with a balance of benefits or advanced features created by its CEO, Paolo Arduino.
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the money reserves are around 86% of the total USDT Tether in circulation.
It's indeed minus -14%, but for such a very large reserve value, it proves that USDT Tether is a real stable coin and will not be a fraud. In My Opinion.
If money reserves are around 86% of USDT, USDT is 100% fraud :D
I also think like that because the value of minus 14% is very large and it would be crazy if it was actually -14% of USDT from US Dollar.
But what's strange is how come USDT continues to exist to this day and the results cannot be underestimated, even though the entire market for USDT coins has a very large market cap.
Hopefully we can see the best from USDT because it seems like USDT has many problems but is able to overcome them with a balance of benefits or advanced features created by its CEO, Paolo Arduino.
There is a similar topic where the author says that USDT already has 100% collateral, I personally did not know that they have such collateral and asked him where he got this information, you can find this topic and read what the author will write.
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,you can find this topic and read what the author will write.
The problem is, do you want to write about the topic if this USDT Tether is not a Fraud?
Or maybe another topic that is able to write that USDT Tether is not a Fraud?
And the question is also if the USDT Tether is Fraud, then why until now this coin is still number 5 in Coinmarketcap?
I am confused which position to be in this position because of this USDT tether I also keep it in personal wallet and often trade it at Binance.
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Usdt is so manipulated that there are a lot of coins flying around that are backed by nothing, the issuing company can print usdt as they like and it is obvious that they do not have enough reserves to cover their liabilities. I don't think it is wise for someone to be saving their funds in usdt, when they can do so in a coin like BTC that is censorship resistant and permissionless.
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Unfortunately USDT has an unlimited supply until the time comes that USDT can be used to destroy Bitcoin, but we all don't know when that will happen because USDT is currently controlled by the global elite who control the circulation of money in the world.
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I can't predict the future, but it's important to note that Tether has faced scrutiny and concerns regarding its transparency and reserves. The stability of any cryptocurrency, including Tether, depends on various factors, and it's advisable for investors to stay informed about regulatory developments and conduct thorough research before making decisions.
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damn, why people call it stable coin then?
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I also have a little USDT in a CEX wallet like Binance because just to anticipate if this USDT becomes a scam, I don't lose too much. ;D
I think USDT is not a fraud because USDT has a level of trust from all investors and traders because we can see that the USDT market is spread everywhere.
But there are still many who say that USDT is a coin that will be a scam because USDT does not have a money supply that matches the real one.I'm sure the people who think that USDT will be a scam are people who understand finances in blockchain technology, they are not just random people.
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But what's strange is how come USDT continues to exist to this day and the results cannot be underestimated, even though the entire market for USDT coins has a very large market cap.
Here is why Jonathan
I think USDT is not a fraud because USDT has a level of trust from all investors and traders because we can see that the USDT market is spread everywhere.
"Many investors and traders trust x so x cannot be a fraud"... "It's impossible for so many people to be wrong"... It's a quite usual way of thinking, I myself use it unconsciously every day, for sure. It's very normal.
They call it Bandwagon Effect (https://www.investopedia.com/terms/b/bandwagon-effect.asp)
"The bandwagon effect is when people start doing something because everybody else seems to be doing it.
Economically, this can make sense, as it allows you to economize on the costs of gathering information by relying on the knowledge and opinions of others.
For example, if you are having a baby, you could spend hours researching different baby strollers and trying to find the best option. Or, if everyone you know has the same baby stroller model, you might decide that's the best one because everyone else uses it. As long as it is a good stroller, you would have saved yourself hours of time lost to research that you didn't need."
The Bandwagon effect is so strong that USDT users will hold to USDT even while admitting that USDT is not 100% backed
No, I assure you that USDT Tether will not be a fraud because USDT Tether has a lot of real money reserves and yesterday I also read an article about USDT Tether, namely the money reserves are around 86% of the total USDT Tether in circulation.
It's indeed minus -14%, but for such a very large reserve value, it proves that USDT Tether is a real stable coin
The Bandwagon effect is so strong that people will consider Stablecoins of a company that does not audit their reserves (Tether) more trustworthy than Stablecoins of a company that audits their reserves (Kinesis)
I wasn't aware if XAUt was audited or not. But Tether is a known company for their Stable coin USDT and people trust them because of the massive about of money they have in circulation. That doesn't mean we cannot trust XAUt. Maybe they are planning to do an audit with an well-named international auditors. I still have some doubts for some reason.
I guess I have shared what is the reason. Even though Kinesis were audited, we never know if they have moved their assets somewhere or not. There is no way to verify it except for another audit. Crypto.com did the same thing after a audit. But people caught them.
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As we know Tether is getting pumped from time to time. Do you think it will be a fraud at some point? If yes , than why ?
We saw usdt recently did some mistake for that they have lost some popularity. Bit i can't thinkl usdt is fraud. They trying to overcome from that mistake. Even usdt has large number of volume and large number of marketcap. And till now usdt is most popular stable coin. I think usdt is good coin it will play good role in cryptocurrency market in future. So usdt is not fraud i strongly believe it.
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As we know Tether is getting pumped from time to time. Do you think it will be a fraud at some point? If yes , than why ?
What i was asking here is that How could be a Stable coin be pumped? when the price is almost the same each time? or do you mean increasing capitalization ? maybe because people wanted to keep their funds safer?
As we know Tether is getting pumped from time to time. Do you think it will be a fraud at some point? If yes , than why ?
We saw usdt recently did some mistake for that they have lost some popularity. Bit i can't thinkl usdt is fraud. They trying to overcome from that mistake. Even usdt has large number of volume and large number of marketcap. And till now usdt is most popular stable coin. I think usdt is good coin it will play good role in cryptocurrency market in future. So usdt is not fraud i strongly believe it.
maybe people that spreading this FUD against are from other stable coins team or they are just afraid of their coin being dead because of Stable coin presence .
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As we know Tether is getting pumped from time to time. Do you think it will be a fraud at some point? If yes , than why ?
I don't trust centralized money payment but Tether has been year many years and because they sit in the US, it hasn't collapse yet and we shouldn't trust them with over confidence. There audit remain hidden from the public despite all the articles they have shared with rest of the world, I don't trust them a bit. I will used USTC everyday than used USDT but in general, stablecoins aren't to trusted except for DAI.
I just feel that those minted USDT are done on purpose, some people go over the counter to buy this Bitcoin without going through the exchanges and that's why we don't see this transaction in equivalent 1:1 BTC/ USDT. What I'm bother about is the how USDT can printed without actually deposited equivalent fiat. We will be damn the day Tether will collapse in crypto.
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maybe people that spreading this FUD against are from other stable coins team or they are just afraid of their coin being dead because of Stable coin presence
You are talking about me.
No I'm not from Kinesis.
I just participate to their affiliate program. That's why I know them more than any other gold-backed coins project.
If they wanted to "spread FUD" over other companies and advertise for themselves, they would send a native English speaker.
Bitterguy, this is the second time today that you try to hit me.
This time insinuating that I have some hidden agenda.
Enjoy the company of your friend Stompix in my Ignore Box, Bitterguy
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There audit remain hidden from the public despite all the articles they have shared with rest of the world
The problem is not that the audit is hidden, the problem is that there is no audit (https://www.altcoinstalks.com/index.php?topic=314971.msg1476428#msg1476428)
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What I'm bother about is the how USDT can printed without actually deposited equivalent fiat. We will be damn the day Tether will collapse in crypto.
Usdt is manipulated a lot, and the day it would collapse could come sometime soon. There are a lot of usdt coins right now in people's wallets that are backed by nothing and printed out of thin air, it is certain that if Tether collapses today, their reserves would not be sufficient to cover their liabilities, so it is recommended for people not to hold tether for a long time, because it can also be frozen by the issuing company even if it is stored in your own wallet.
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There are a lot of usdt coins right now in people's wallets that are backed by nothing and printed out of thin air, it is certain that if Tether collapses today, their reserves would not be sufficient to cover their liabilities,
According to BDO's attestations (https://www.altcoinstalks.com/index.php?topic=314971.msg1476428#msg1476428) (don't ask me what's the difference with an audit...) currently USDTs are backed up by enough reserves.
Keyword: currently
Tether's reserves are investments.
Investments are risky by definition.
One of the risks of investments is the so-called counterparty risk.
Counterparty risk (https://www.occ.treas.gov/topics/supervision-and-examination/capital-markets/financial-markets/counterparty-risk/index-counterparty-risk.html#:~:text=Counterparty%20risk%20is%20the%20probability,default%20on%20the%20contractual%20obligations.):
"Counterparty risk is the probability that the other party in an investment, credit, or trading transaction may not fulfill its part of the deal and may default on the contractual obligations."
This is what BDO write in their last attestation report of Tether's reserves
(https://i.ibb.co/SxVWg3G/3.png)
BDO state what everybody should know: if the other side of those investments gets in trouble, the value of those investments will decrease
Tether's investments' value decrease = Tether's reserves decrease = USDT not backed 100% anymore
This could happen anytime.
Is this a fraud?
No, because Tether is clear about that.
The point is, a stablecoin whose stability depends on the stability of the counterparties of their investments is a bad stablecoin.
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What I'm bother about is the how USDT can printed without actually deposited equivalent fiat.
That's a good question Guru...
This is what USDT is currently backed by (https://www.altcoinstalks.com/index.php?topic=314971.msg1492908#msg1492908) (assets composition changes over time)
84%: US government debt... Overnight Reverse Repurchase Agreements (do you know what this is? Me neither)... Term Reverse Repurchase Agreements (Agreements between whom?)... Money Market Funds... Cash & Bank Deposits (0,4% of 84%)... debt of other governments (which ones?)
0,1% Corporate Bonds (= debt of private companies)
3% „Precious Metals“ (probably derivatives, i.e. debt of those financial institutions issuing those derivatives)
3% Bitcoins
4% Other Investments (nobody knows)
5% Secured Loans (loans to whom? secured by what?)
As a USDT user, when you buy a USDT you give them 1 $
Instead of investing your 1 $, why don’t they simply take it and put in the bank?
Because on those assets they earn money.
Who keeps that money?
They do
Who carries the risks associated with those assets (https://www.altcoinstalks.com/index.php?topic=24951.msg1493323#msg1493323)?
You do
Is this a fraud?
No, because they are transparent about it.
But think about this: there are companies managing gold-backed cryptocurrencies that could lease part of the metals backing their coins, earning mountains of money.
The danger of a „bunk run“, with their users and investors asking for delivery of the metals represented by their currencies, is zero.
Instead, these companies keep those metals stored in the vaults - „doing nothing“ - losing tons of money as unrealised gains.
I think it would be more suitable to talk about integrity than about fraud
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maybe people that spreading this FUD against are from other stable coins team or they are just afraid of their coin being dead because of Stable coin presence
You are talking about me.
No I'm not from Kinesis.
I just participate to their affiliate program. That's why I know them more than any other gold-backed coins project.
If they wanted to "spread FUD" over other companies and advertise for themselves, they would send a native English speaker.
Bitterguy, this is the second time today that you try to hit me.
This time insinuating that I have some hidden agenda.
Enjoy the company of your friend Stompix in my Ignore Box, Bitterguy
Lol never that I tend to hit you or if I did then its not from me instead from yours , I am only posting about how and what i can see in each thread and posting about my opinion does not mean hitting anyone but giving my rights , this is a open forum right? we can post everything as long as we are not spreading malicious or some tricky post then I think that is for reporting but as long as we are sharing our thoughts about this thing and that thing then please don't be offended or felt bad because we are sharing here.
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P.S. Just a thought, not trying to impose anything. Think and analyze such questions on your own!
So here's the gist of it. Some of you have had thoughts. that all the collateral that Tether has might be dust in the eyes of you and me? Example: they say there is a certain amount in collateral, but in fact, exaggerate. Could that be the case? I would be skeptical of what they say. Suppose tomorrow the American government launched an investigation into security. Do you think it would be okay? My message has been, and will continue to be, don't keep all your capital in one basket. But even after years, there is always distrust. 8)
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I also have a little USDT in a CEX wallet like Binance because just to anticipate if this USDT becomes a scam, I don't lose too much. ;D
I think USDT is not a fraud because USDT has a level of trust from all investors and traders because we can see that the USDT market is spread everywhere.
But there are still many who say that USDT is a coin that will be a scam because USDT does not have a money supply that matches the real one.I'm sure the people who think that USDT will be a scam are people who understand finances in blockchain technology, they are not just random people.
the same, for me USDT is the savior of my assets, if crypto is not doing well, but with this news 75% I'm afraid I will lose a lot if it's true that USDT is a scam, but is that possible? That's my question?
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the same, for me USDT is the savior of my assets, if crypto is not doing well, but with this news 75% I'm afraid I will lose a lot if it's true that USDT is a scam, but is that possible? That's my question?
USDT is the most pair stablecoin because it has proven to be better than other stablecoins and also been the oldest makes it more popular but the fact that they are hiding real audit and transparency from the public is making everyone suspect them about the real fiat that is backing the stable coin. The facts that many people has called them out makes it's even more suspicious.
If you want to avoid market dump, trade to usdt stablecoin but if you want to hold stablecoin for long, I will advice you to convert the USDT to DAI stablecoin, it's ethereum most used stablecoin and it's back by Makerdao and we'll decentralized than any stablecoins that we have in crypto.
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I also have the same question. I mean, US dollar might be the most important currency around the world. Since Tether is pegged to the US dollar. Part of me feels like a fraud would be an extreme statement. But we never know whether it is backed by an equivalent amount of US dollars held in reserve. I mean, where is the money though lol
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As we know Tether is getting pumped from time to time. Do you think it will be a fraud at some point? If yes , than why ?
It's a controversial topics in crypto currency, with many people question today it's legitimate. The main issues is that tether is supposed to be pegged to the us dollar, it's covered by real world assets. This has brought to our notice that tether could collapse if there is a sudden sell off. Moreover, is audited by third party and has so far remain stable.
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As we know Tether is getting pumped from time to time. Do you think it will be a fraud at some point? If yes , than why ?
It's a controversial topics in crypto currency, with many people question today it's legitimate. The main issues is that tether is supposed to be pegged to the us dollar, it's covered by real world assets. This has brought to our notice that tether could collapse if there is a sudden sell off. Moreover, is audited by third party and has so far remain stable.
It is not because Tether is pegged to the US dollar it will crash, it is because they are not back all with real US dollars in physical cash, if all the USDT that has been minted which is about $90B in amount are to be converted to the real US dollar cash i.e Fiat, it is going to be impossible to happen because what they have are not only fiat but bonds, treasury bills and many other financial instruments and since these are traditional finance instrument, some investors are always sceptical with these instruments. Even the crypto investors don't trust these instruments because they can't be trusted and since then Tether always avoided questions regarding the fiats in their vaults.
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It's a controversial topics in crypto currency, with many people question today it's legitimate. The main issues is that tether is supposed to be pegged to the us dollar, it's covered by real world assets. This has brought to our notice that tether could collapse if there is a sudden sell off. Moreover, is audited by third party and has so far remain stable.
For me, it is like spreading FUDs about Tether.
I ever heard the issue about USDT wasn't pegged totally with dollars. But the news can't be proven as valid news.
It is more likely as a rumor spreading around us. When it can be proven, I think we can't assume that Tether is no longer trustable.
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Moreover, is audited by third party
It's not audited (https://www.altcoinstalks.com/index.php?topic=314971.msg1500628#msg1500628)
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Some of you have had thoughts. that all the collateral that Tether has might be dust in the eyes of you and me? Example: they say there is a certain amount in collateral, but in fact, exaggerate. Could that be the case?
No
Tether reserves are attested by BDO (https://www.altcoinstalks.com/index.php?topic=314971.msg1500628#msg1500628), so the collateral is there.
The problem lays here:
(https://i.ibb.co/SxVWg3G/3.png)
The name of the problem - which most users and investors are oblivious of - is counterparty risk (https://www.altcoinstalks.com/index.php?topic=24951.msg1493323#msg1493323)
As I understand it when you buy USDT you take counterparty risk on yourself.
Who are the counterparties, you ask.
They are the Tether's debtors.
When you buy USDT Tether is unloading on you the risk of their investment while they keep the profits of those investments for themselves.
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As we know Tether is getting pumped from time to time. Do you think it will be a fraud at some point? If yes , than why ?
I think I've come to the point where I actually don't know what to believe anymore, Tether have been called a scam company for years now, and yet, they still remain the number one stable coin in crypto currency, even when their competitors like USDC, DAI and some others are said to be more decentralized and a better stable coin, USDT still manages to remain at the top of its game, gaining popularity and more users/holders as each day breaks.
If I am to answer this question of wether Tether is a scam or not, I would honestly say that I don't know, but usdt have always been my number one choice when ever I need a stable coin for whatever reason.
And whether Tether will one day go away? I also can not tell, only the future can, but due to the several controversies surrounding the company; Tether, I personally don't keep too much usdt for a long time, I only convert to usdt, keep for a few days, then decided to sell it for my local currency or invest in another crypto currency with it.
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If I am to answer this question of wether Tether is a scam or not, I would honestly say that I don't know, but usdt have always been my number one choice when ever I need a stable coin for whatever reason.
And whether Tether will one day go away? I also can not tell, only the future can, but due to the several controversies surrounding the company; Tether, I personally don't keep too much usdt for a long time, I only convert to usdt, keep for a few days, then decided to sell it for my local currency or invest in another crypto currency with it.
You are doing right 5star,
but what's the point of stable coins?
It's not to serve crypto traders.
It's to serve ordinary people, citizens of countries with high inflation.
People completely financially unsophisticated.
Local grocery stores, fruit sellers, street restaurants, pensioners and housewives...
Stablecoins should offer a easy way to these people to save their purchasing power from inflation.
You must apply the mechanism I described above ("When you buy USDT Tether is unloading on you the risk of their investment while they keep the profits of those investments for themselves") to ordinary people, then you will see the dimension of the problem.
When you judge cryptocurrencies and stable coins it's helpful if you stop for a moment thinking from the point of view of a crypto trader and start thinking from the point of view of ordinary people.
Cryptocurrencies - in particular stable coins - should serve primarily ordinary people, not crypto traders.
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No Tether reserves are attested by BDO (https://www.altcoinstalks.com/index.php?topic=314971.msg1500628#msg1500628), so the collateral is there. The problem lays here:
The name of the problem - which most users and investors are oblivious of - is counterparty risk (https://www.altcoinstalks.com/index.php?topic=24951.msg1493323#msg1493323)
As I understand it when you buy USDT you take counterparty risk on yourself. Who are the counterparties, you ask. They are the Tether's debtors.
When you buy USDT Tether is unloading on you the risk of their investment while they keep the profits of those investments for themselves.
I see now why they print USDT in any quantity they want, whenever they want. Impunity and so on.
In case - in case something happens to them. They'll just write, you have to take the risks, we can't help you, sorry, have a nice day. ;D
P.S. I'm not trying to change your mind. Of course not, I just want everyone to remember to diversify their assets. It's important! Cryptocurrency market - not so stable + unsafe to keep everything in one basket.
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As we know Tether is getting pumped from time to time. Do you think it will be a fraud at some point? If yes , than why ?
It's very impossible to say for sure but many people has accused tether for being a fraud. it's certainly a contentious whether fraud or not.
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As we know Tether is getting pumped from time to time. Do you think it will be a fraud at some point? If yes , than why ?
It's very impossible to say for sure but many people has accused tether for being a fraud. it's certainly a contentious whether fraud or not.
People that actually accused Tether of been a fraud has their reasons, in fact many times not one or two people came out publicly to say their mind about Tether. But personally, my only problem is that locking of accounts that bothers me. They are guilty of blocking accounts anytime they suspect a wallet that has a usdt which even kill the coexistence of Bitcoin.
I even heard they are now working with the FBI and some agency to help them reduce fraud but don't you think such will lead to bad judgment, some wallet might actually be not guilty and their account will be block which is bad and the owner can't voice out, they didn't even provide a platform for people to complain.
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People that actually accused Tether of been a fraud has their reasons, in fact many times not one or two people came out publicly to say their mind about Tether. But personally, my only problem is that locking of accounts that bothers me. They are guilty of blocking accounts anytime they suspect a wallet that has a usdt which even kill the coexistence of Bitcoin.
I even heard they are now working with the FBI and some agency to help them reduce fraud but don't you think such will lead to bad judgment, some wallet might actually be not guilty and their account will be block which is bad and the owner can't voice out, they didn't even provide a platform for people to complain.
I agree with you, this is a very bad trend, but we have a choice and we may not hold Tether or not hold it a lot and for a long time, we use it for trading and for storage, but judging by the way Tether is managed and the fact that it can be selectively blocked this is very bad .
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As we know Tether is getting pumped from time to time. Do you think it will be a fraud at some point? If yes , than why ?
For a long time, Tether's price has remained stable at around 1 dollar, where do you say "Pumped"?
Can you provide proof that this Tether was pumped to more than 1.5 USD for 1 Tether?
Or maybe I haven't found it yet something Pumped from Tether?
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By the way Tether was repressed in Canada last year, for example coinbase and others removed the possibility to trade in pairs with USDT. By the way, is there anyone who lives in Canada, how has it affected your trading, since a year is coming up?
P.S. It is very interesting to get an answer to this question from knowledgeable users.
(https://i.ibb.co/SvYRHWt/photo-2024-03-19-06-26-39.jpg)
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I also have a little USDT in a CEX wallet like Binance because just to anticipate if this USDT becomes a scam, I don't lose too much. ;D
I think USDT is not a fraud because USDT has a level of trust from all investors and traders because we can see that the USDT market is spread everywhere.
But there are still many who say that USDT is a coin that will be a scam because USDT does not have a money supply that matches the real one.I'm sure the people who think that USDT will be a scam are people who understand finances in blockchain technology, they are not just random people.
the same, for me USDT is the savior of my assets, if crypto is not doing well, but with this news 75% I'm afraid I will lose a lot if it's true that USDT is a scam, but is that possible? That's my question?
Don't listen to those who tries to make people confused how USDT is working , and besides this is the coin that keeps saving cryptonians from possible trouble when time comes of crypto is dumping so bad .
I myself have been saved by USDT many times before and until now i keep having this as backup currency for my investments.
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As we know Tether is getting pumped from time to time. Do you think it will be a fraud at some point? If yes , than why ?
Tether does a lot of things keeping us in the dark, the crypto community has many complaints against Tether but Bitfinex and Tether continue to do many illegal activities. But Tether is now so big that any action against them will have a huge impact on the crypto market. So the crypto community should gradually reduce its reliance on Tether and look at other stablecoins to reduce the power of USDT in the crypto market, but this is a very difficult task to do.
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By the way Tether was repressed in Canada last year, for example coinbase and others removed the possibility to trade in pairs with USDT. By the way, is there anyone who lives in Canada, how has it affected your trading, since a year is coming up?
P.S. It is very interesting to get an answer to this question from knowledgeable users.
(https://i.ibb.co/SvYRHWt/photo-2024-03-19-06-26-39.jpg)
It's very scary that Canada prohibits trading USDT, I don't understand where the error lies with USDT in Canada.
Including large markets such as Coinbase which prohibits USDT trading in Canada, perhaps other members have a better understanding of this issue.
Or maybe there are members on altcoinstalks who are originally from Canada, why does this problem occur.
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Stablecoins are not fraud, we only have to ensure that the ones we are using or in support are the within the most recognized and supported ones, USDT is the best and most reliable stablecoin anyone could find being applicable for use in most instance, we have to know the true value and relevance in the use of this same tether and how its a global stablecoin where all currency pairs exist with.
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Since the beginning of February, USDT transactions on Tron have grown noticeably, and now their average volume is over 2 million per day. Due to this growth, the number of transactions is approaching the peak observed in January 2023.
P.S. Who has any thoughts on this? OKEX refused to discuss Usdt on the Tron network.
(https://i.ibb.co/HP32LR8/photo-2024-03-28-11-22-40.jpg)
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Stablecoins are not fraud, we only have to ensure that the ones we are using or in support are the within the most recognized and supported ones, USDT is the best and most reliable stablecoin anyone could find being applicable for use in most instance, we have to know the true value and relevance in the use of this same tether and how its a global stablecoin where all currency pairs exist with.
People have different views on stablecoins, some believe in them and others see them as nothing more than scams. I respect the reserve proof that Tether and Circle provide to the community, and these companies are also buying a lot of government bonds, investing in BTC, and providing other services. In the past, I was also worried that Tether did not have enough assets to back the value of USDT, but for now I temporarily trust the value of stablecoins and think that 1 USDT is really backed by $1 worth of assets.
Concerns about stablecoins have existed since their inception, I don't think I want to spend a lot of time worrying instead of focusing on following the market and looking for opportunities to make a profit. Those who don't believe in stablecoins can sell their crypto for cash and hold on while waiting for new opportunities in the market.
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Stablecoins are not fraud, we only have to ensure that the ones we are using or in support are the within the most recognized and supported ones, USDT is the best and most reliable stablecoin anyone could find being applicable for use in most instance, we have to know the true value and relevance in the use of this same tether and how its a global stablecoin where all currency pairs exist with.
It is not today that I started hearing about the USDT bubble and why has it not bursted. Every year you keep hearing so much rumour about USDT on how the owners are minting more of it everyday. We keep hearing how the government will hunt it down any moment. Yet, the adoption of USDT keep increasing and it can be regarded as the second largest cryptocurrency after Bitcoin. Let's keep watching, but for now I believe USDT.
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By the way Tether was repressed in Canada last year, for example coinbase and others removed the possibility to trade in pairs with USDT. By the way, is there anyone who lives in Canada, how has it affected your trading, since a year is coming up?
P.S. It is very interesting to get an answer to this question from knowledgeable users.
USDT is not regulated in Canada
Canada's authorities are cracking down everything which doesn't follow the rules
for ex. KYC
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It's very scary that Canada prohibits trading USDT, I don't understand where the error lies with USDT in Canada.
Including large markets such as Coinbase which prohibits USDT trading in Canada, perhaps other members have a better understanding of this issue.
Or maybe there are members on altcoinstalks who are originally from Canada, why does this problem occur.
Hi erus
USDT in Canada is not regulated
Neither in the USA USDT is regulated, but since Tether massively finances the US Treasury (https://www.altcoinstalks.com/index.php?topic=316336.0), authorities have gone easy on Tether
Nevertheless Tether's - regulated - competition are pushing authorities to go after USDT (https://www.altcoinstalks.com/index.php?topic=315185.msg1499789#msg1499789)
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Tether has said it will block any addresses associated with sanctioned entities - this comes after information that Venezuela's state oil company is using USDT to circumvent sanctions.
News link: https://cointelegraph.com/news/tether-freeze-usdt-venezuela-oil-sanctions
P.S. On the one hand, it is quite right to show users who are under sanctions. But on the other hand, is this about decentralization?
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P.S. On the one hand, it is quite right to show users who are under sanctions. But on the other hand, is this about decentralization?
So you are saying that it's right for Tether to act as an agency of the US government.
You say it's right for an international currency issued by a private company - which isn't even a US company - to serve the interests of one single government and of one single country (the most powerful one).
The international crypto community ass-liking the US government and their USD
But you care about decentralisation
Using an international cryptocurrency as an instrument of US gov politics is ok,
centralization/decentralization, that's the big issue for you
So between coin A that doesn't serve the interests of any specific country and coin B that does, B is better as long as it's more decentralised than A
Between coin A that helps people to overcome the problem of the devaluation of their national currency and coin B that is used to enslave and tyrannise,
crypto people prefer B because... hey, it's decentralised!
and anonymous!
no KYC!
Cool!