Is Thether a scam? (page 2)

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cortomaltese
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cortomaltese

Re: Is Thether a scam?
« Reply #15 on: January 21, 2021, 08:30:48 PM »
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No doubt that a possible tether failure wil have a great impact in the crypto space!
However for those new to this space i will have to inform them that "Tether FUD" is by no means something new!
It comes and goes in cycles for years!
Without underestimate tether's impact i still believe that it's "infuence" on crypto market is overestimated as many other things do in this space!
But in any case tether's possible end will not be the end for cryptos in general ! No way!
In the mean time i would encourage everyone interested to search for alternatives as i already mentioned several times before in this thread
« Last Edit: January 21, 2021, 08:34:26 PM by cortomaltese » Logged
ilovethisforum
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ilovethisforum

Re: Is Thether a scam?
« Reply #16 on: January 21, 2021, 08:41:25 PM »
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No doubt that a possible tether failure wil have a great impact in the crypto space!
However for those new to this space i will have to inform them that "Tether FUD" is by no means something new!
It comes and goes in cycles for years!
Without underestimate tether's impact i still believe that it's "infuence" on crypto market is overestimated as many other things do in this space!
But in any case tether's possible end will not be the end for cryptos in general ! No way!
In the mean time i would encourage everyone interested to search for alternatives as i already mentioned several times before in this thread

Very good post! Totally agree
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apoel81
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apoel81

Re: Is Thether a scam?
« Reply #17 on: January 22, 2021, 10:51:20 AM »
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So far, instead of exchange crypto to fiat i used Tether so as to avoid bank transactions.

All you guys that avoid Tether, you simply cash out to fiat? Was your bank ok with that?

Better use USDC,BUSD,TUSD or the best option imo DAI

Thanks mate, will switched to usdc
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Alfa1234
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Alfa1234

Re: Is Thether a scam?
« Reply #18 on: January 22, 2021, 01:28:54 PM »
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Pax is also good.
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ilovethisforum

Re: Is Thether a scam?
« Reply #19 on: January 22, 2021, 03:42:20 PM »
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I would like to post a part of the today's crypto report/newsletter of one of the best websites for information and news in the crypto space. The report/newsletter had the following comment for Tether:

"Finally, there was the Tether trutherism. Once every couple of years, some newb realizes that Tether is pretty shady by necessity. You can’t roll up to JPMorgan with $25 billion in cash deposits, tokenize them, and shoot them around un- or under-regulated foreign crypto exchanges now can you? Instead, Tether and Bitfinex have always played this cowboy-esque banking shell game to secure dollar deposits. It’s opaque by design, the banks look sketchy, and the treasury management optics are shitty, but when push comes to shove, the people with money (OTC desks, exchanges, whales) know that there’s always been money in the banana stand. If that unwinds, cash will flow back to BTC as a reserve asset, so it could even be an immediate negative shock, then bullish reversal as the global crypto settlement reserve reverts back to bitcoin."
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ilovethisforum

Re: Is Thether a scam?
« Reply #20 on: January 22, 2021, 03:44:08 PM »
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Pax is also good.

Agreed. For me the best is DAI and then PAX.
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Wolfie
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Wolfie

Re: Is Thether a scam?
« Reply #21 on: January 23, 2021, 09:11:28 AM »
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I would like to post a part of the today's crypto report/newsletter of one of the best websites for information and news in the crypto space. The report/newsletter had the following comment for Tether:

"Finally, there was the Tether trutherism. Once every couple of years, some newb realizes that Tether is pretty shady by necessity. You can’t roll up to JPMorgan with $25 billion in cash deposits, tokenize them, and shoot them around un- or under-regulated foreign crypto exchanges now can you? Instead, Tether and Bitfinex have always played this cowboy-esque banking shell game to secure dollar deposits. It’s opaque by design, the banks look sketchy, and the treasury management optics are shitty, but when push comes to shove, the people with money (OTC desks, exchanges, whales) know that there’s always been money in the banana stand. If that unwinds, cash will flow back to BTC as a reserve asset, so it could even be an immediate negative shock, then bullish reversal as the global crypto settlement reserve reverts back to bitcoin."

I dont think it will go directly to btc because tether plays a role. It is a tool against volatility of btc. And the best tool to trade btc. So if it goes i dont think we will be left with no tools as there are many around to replace it. So all that money will flow to pax, usdc and busd. They are all regulated and audited monthly.
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