Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Stable Coins Forum => USDT Forum => Topic started by: sirty143 on May 29, 2020, 10:44:40 AM

Title: Tether Explains Why It Hasn’t Burned Any USDT
Post by: sirty143 on May 29, 2020, 10:44:40 AM
Tether Explains Why It Hasn’t Burned Any USDT

(https://i.imgur.com/KqKp2jnl.jpg)

Tether CTO cites the popularity of its ERC20 tokens as the reason why the company never burns them, but stores them in their ‘inventory’. See more for yourself here (https://cointelegraph.com/news/tether-explains-why-it-hasnt-burned-any-usdt).

Your opinion is greatly appreciated.
 
Title: Re: Tether Explains Why It Hasn’t Burned Any USDT
Post by: MrSpasybo on June 04, 2020, 11:01:15 PM
The nature of USDT is the token representing the value of USD, currently, if every proof-of-resever of Bitrex is correct then each USDT corresponds to 1 USD in their reserve.
If burning USDT, the nature of USDT will be changed, because 1 USDT in the market will correspond to more than 1 USD in the reserve.
Title: Re: Tether Explains Why It Hasn’t Burned Any USDT
Post by: kent47400 on June 29, 2020, 12:33:25 PM
If a portion of the Tether is burned then it is certain that the Tether will lose, the coins they create are stable coins and are highly valued than altcoins under 500 CoinMarketCap.
Look at this Tether market has spread everywhere and it's an advantage of all markets that explore and work together with the Tether system.

In my opinion, don't let it burn because Tether is a stable coin and even if it is burned it won't have any effect on Tether.
Title: Re: Tether Explains Why It Hasn’t Burned Any USDT
Post by: tinakoya on July 08, 2020, 10:13:07 PM
Why would a stable coin need burning though? Won't that affect the stability of the coin?
Title: Re: Tether Explains Why It Hasn’t Burned Any USDT
Post by: IyemRoker on July 29, 2020, 06:37:51 AM
Quote from: tinakoya on July 08, 2020, 10:13:07 PM
Why would a stable coin need burning though? Won't that affect the stability of the coin?
That's right and it seems like I think there is also no need to burn for stable coins.
Will not give effect to stable coins because the supply of stable coins is the same as (=) real money from FIAT.

Unless, in my experience, is the blockchain network transfer, for example the network transfer from OMNI to the Tether Burn and then move the Tether to the Ethereum blockchain network.
Title: Re: Tether Explains Why It Hasn’t Burned Any USDT
Post by: aiviaa485 on August 14, 2020, 11:26:55 PM
Don't burn the tether.
Tether don't be lost.
Because if you burn Tether it will not affect the price of the coin.
The function of the Stable Coin is to support altcoins that go up and down so fast and the Tether shouldn't have to be burned or removed.
Title: Re: Tether Explains Why It Hasn’t Burned Any USDT
Post by: ShadowCrypto on August 21, 2020, 01:28:37 AM
Tether just did the first ever 1 Billion USDT print in one go!
They claim its a chain swap and supply wont change lol

Then sent 600 Mill to Binance."
Title: Re: Tether Explains Why It Hasn’t Burned Any USDT
Post by: damsix on August 27, 2020, 08:11:58 PM
Quote from: ShadowCrypto on August 21, 2020, 01:28:37 AM
Then sent 600 Mill to Binance."
600,000,000 is an awful lot and that would probably make the Bitcoin Pump price.
But do you have proof of transaction of 600,000,000 USDT?
If you have proof of transaction from the TRON, EThereum or OMNI blockchain, please share the link in my thread.

I also think that if the 600,000,000 USDT is not attracted to Bitcoin then the price will probably experience a slight decrease even though it's minus -0.2%.
Title: Re: Tether Explains Why It Hasn’t Burned Any USDT
Post by: edmundo on August 28, 2020, 11:34:18 PM
Tether has continued to mint tokens at will and give the impression that there is absolutely no control on how its supply is regulated. Some have raised concerns about its usage in money laundering and it has gotten a lot of people worried since it can be minted or printed at will. There should be a cap to this and how it continues to find relevance as a cryptocurrency. It truly has to obey the primary objectives of cryptocurrency as it stands.
Title: Re: Tether Explains Why It Hasn’t Burned Any USDT
Post by: jonathancool220 on February 16, 2021, 10:56:32 AM
The stable coin cannot be burned or if it is forced to be burned it will suffer unwanted losses.
Tether it is a stable coin and until whenever the price will continue to follow the original price of Fiat USD, so why should it be burned?
If there are people or institutions who want USDT to be burned, then it is someone who is shirk who doesn't know how stable coins work in the cryptocurrency market.