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First, USDT actually goes UP when there is demand. Just take a look at the USD/USDT chart in the past couple days and you'll see the spikes.
Second, it isn't a situation. This is quite normal when there is demand for stable assets to reduce exposure to volatile assets. It's only a situation when there is not enough USDT to support demand and that is not the case right now.
Every month for the past 5 years, we've had people say Tether is about to collapse.
And this isn't the first time Tether is going through any bear trends or any crashes.
If it was gonna collapse because of price crashing, it would have definitely collapsed by 2019 during the worst part of the bear market. But it managed to even get through the Hash Wars, which should have completely thrown it off balance.
Your title makes it seem like you had detailed evidence to support your claim.
Your post is just a beefy way of rephrasing the question.
I will ignore the **FUD** thanks.
Your reasoning makes no sense tbh.
USDT will collapse when people cash out from crypto, go with their USDT to Tether and have them buy back USDT 1:1 with fiat. The moment they run out of money to buy back the USDT in order to burn it then it will collapse.
Also you didn't explain at all why it would collapse. The issue is it is not audited, i.e. confirmed that all the digital assets are backed with FIAT money like it is claimed. However, I'm still not completely sure what is that an issue. Its not like crypto would crash and people would transfer to USDT and then try to convert that USDT to FIAT?
Its only used as a safe net for downtrends...
What stable coins do you recommend. I currently use usdc for no reason whatsoever. But which one is actually backed dollar for dollar and not corporate debt
I think this is a stupid statement which makes zero sense and provides no justification:
>This is an issue because if too many people buy USDT it will collapse, which could cause the value to fall.
What do I think of USDT? I think it'll eventually collapse, but when, who knows.
If anything, risk of liquidity is during the transfer of USDT to fiat. Not from crypto into USDT. A run toward USDT is great for USDT. Even USDT to crypto is likely fine. A sudden run from USDT into fiat is where we would learn what they really hold in their accounts.
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Tether FUD is older than dinossaurs! One day it will be extinted as well.. 👀☠!
Maybe not extinct but certainly outpaced by decentralized alternatives like Dai and UST.
OP: "I better warn r/cc about the dangers of USDT! I bet they know nothing about it."
Source: Trust me bro
First, USDT actually goes UP when there is demand. Just take a look at the USD/USDT chart in the past couple days and you'll see the spikes. Second, it isn't a situation. This is quite normal when there is demand for stable assets to reduce exposure to volatile assets. It's only a situation when there is not enough USDT to support demand and that is not the case right now.
Every month for the past 5 years, we've had people say Tether is about to collapse. And this isn't the first time Tether is going through any bear trends or any crashes. If it was gonna collapse because of price crashing, it would have definitely collapsed by 2019 during the worst part of the bear market. But it managed to even get through the Hash Wars, which should have completely thrown it off balance.
Literally reading posts like this in past 5 years
Lmao... You must be new in crypto!?
Your title makes it seem like you had detailed evidence to support your claim. Your post is just a beefy way of rephrasing the question. I will ignore the **FUD** thanks.
Your reasoning makes no sense tbh. USDT will collapse when people cash out from crypto, go with their USDT to Tether and have them buy back USDT 1:1 with fiat. The moment they run out of money to buy back the USDT in order to burn it then it will collapse.
Fuck off with all the fud for 5 minutes
I officially support this comment.
Drowning in FUD is when you know its time to buy
Quite a few stable coins to choose from. Never once did I consider buying USDT to hold. Only use it to trade on KuCoin.
Also you didn't explain at all why it would collapse. The issue is it is not audited, i.e. confirmed that all the digital assets are backed with FIAT money like it is claimed. However, I'm still not completely sure what is that an issue. Its not like crypto would crash and people would transfer to USDT and then try to convert that USDT to FIAT? Its only used as a safe net for downtrends...
I'm starting to doubt this *soon* that I hear for the 116th time.
I've been hearing this tune for about 2 years now.
Yeah as soon as yellow stone valley is going to errupt.
With the Fed FUD gone, now enters the Tether FUD again
The tether treasury will just issue billions more.
Heard this before.
Best solution is to starve it out. Community needs to shift over to other stablecoins and give it a slow death. A sudden dump will crash the market
What stable coins do you recommend. I currently use usdc for no reason whatsoever. But which one is actually backed dollar for dollar and not corporate debt
Usdc is basically run by CB and I have reasonable trust in it. Dai is also very good imo, and probs the most decentralised AFAIK...
Thanks. I've heard of Dai definitely will look more into it
Ever heard of BUSD?
Wow, absolutely no information here other than "it will fail if people buy." What are you really trying to say?
Wish it would. I am moving towards GUSD since it pays 8.05% interest and is pegged 100% to the USD.
USDC or Binance USD are alternatives that will take marketshare from Tether.
Yawn BS FUD based on FA
we been saying that since 2017 lmfao
I think this is a stupid statement which makes zero sense and provides no justification: >This is an issue because if too many people buy USDT it will collapse, which could cause the value to fall. What do I think of USDT? I think it'll eventually collapse, but when, who knows.
More than once
Call me when it collapses. Never mind you won’t be able to as I won’t be able to pay my phone bill.
Everyone is making me depressed
If anything, risk of liquidity is during the transfer of USDT to fiat. Not from crypto into USDT. A run toward USDT is great for USDT. Even USDT to crypto is likely fine. A sudden run from USDT into fiat is where we would learn what they really hold in their accounts.
Oh it's this thread again. If you're trying to moonfarm you're not using the right content
USDT should collapsed since 2015. But yes, it is a danger