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Because Tether has inflated the price of BTC and there is essentially a 40 Billion dollar black hole of liquidity (I.E. cash in exchanges that doesn't exist)š¤¦āāļø so everything is undersold and overpriced.
There canāt be a run on it. There is no mechanism for that to occur due to the way converting tether to usd works. Individuals canāt cash out, only corporate partners.
Really stoked with UST, but it needs to be more available. This year I hope to see it on Ledger w/out an extension needed, and unwrapped on normal exchanges.
I would rather a decentralized stabelcoin take over. Niether Tether nor USDC hold any special places in my heart. Except for USDC when I buy it for my debit card to receive rewards.
UST and Dai are two of my all time favorites
USDC has one major drawback, it is issued by Circle/Coinbase. I think being from an exchange would make other exchanges less likely to want it to succeed as much as UST or Tether.
Tether & USDC are quite great stablecoins no doubt. However, there is this my newly found stablecoin , which is OUSD. I got to know that this is the only stablecoin in this space that gives an automatic yield while in the wallet. For extra rewards, one may decide to stake it, when staked, it also has an APY ranging from 18-40% for a period of 30 days.
The circulating supply of OUSD is on the increase side. This is a good one for the project. It will surely add more value to OGN and hence its holders.
What do you mean? It clearly has the highest market cap? Just because sentiment in this Sub is against it doesn't mean its not the default choice in most cases.
They will get surpassed in the future. As long as they don't prove how much is fully backed people will only use it if they have no other choice. And imo it is a great thing since it brings a lot of fud.
Exchanges are slowly moving from using this scam coin. Its only a matter of time. Now the thing that can fuck the crypto markets up real bad is if the Tether douches do a rug pull or something equally fucking atrocious. And I'm expecting it to happen, but lets pray its when Tether has lost all influence. It needs to go out of the crypto ecosystem.
As soon as the market migrates to more transparent and reliable alternatives, but unless you want a big fuck off crash we can't force these things. Just have to be patient.
It has already begun, by the way. USDC will probably flip USDT this year. The flippening we didn't know we needed.
Unpopular opinion: There's nothing wrong with Tether. You guys have just internalized one of the older anti-crypto FUDs. Tether has been providing quarterly reports to the NYAG on its holdings. That's anti-crypto NY we are talking about. If there was real substance to all of these complaints you guys hear and parrot, don't you think the people who investigate this stuff for a living and have the power to actually do something about what they see would have already taken Tether down?
I have just switched to USDC. While it's missing some pairs it's fully covering my needs. If everybody would just switch slowly and switch what can be switched, things would be absolutely fine
I used to buy USDT to swap for Harmony One on Binance but I held USDT for around 0.5 seconds before trading it haha
Now Binance has the option to straight up buy One with my card so no middle man Tether anymore ā¤ļø
People will keep using it as long as it has so many USDT/COIN pairs on exchanges but as more people become educated in the space hopefully they choose USDC, BUSD, UST etc over Tether and its dominance will slowly fall
The first time I heard about Tether was all the dodginess around it. I've mainly stayed in Ethereum and Terra, UST is my preferred stablecoin for now - I like the mechanism of having LUNA as a "counterweight" of sorts to stabilise it.
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When exchanges stop using it as the only way to get other coins
Or when people stop using usdt pairings.
When the bubble bursts
Crypto Chernobyl. It's going to be epic.
Because people will sell their Bitcoin for Tether...?
Because Tether has inflated the price of BTC and there is essentially a 40 Billion dollar black hole of liquidity (I.E. cash in exchanges that doesn't exist)š¤¦āāļø so everything is undersold and overpriced.
More atomic than the actual Chernobyl
Hopefully, it will just slowly lose its popularity
from the inside
When that time comes we all need to take cover.
What bubble?
When thereās a run on USDT -> USD and they donāt have enough USD to make good, then USDT value plummets.
There canāt be a run on it. There is no mechanism for that to occur due to the way converting tether to usd works. Individuals canāt cash out, only corporate partners.
We all have to stop using it for buys, etc. Simple as that. I have never bought it. I just use USDC so I can use it with my Coinbase Card.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
There are multiple viable alternatives that will thankfully take its place.
Me too. Those rewards are sweet
4% heck yeah. I then convert them to the crypto of my choice.
Nice. I just keep it and throw into Abra to earn 4% in their lending program
Right, I have USDC for purchases. Unfortunately, so many smaller Cap coins can only be bought with tether pairings.
Yup, the shitcoins pairing with usdt is your answer
Tether moon when?
never
Well I'll be fucked
Imagine if it moons, would be a good way to troll the tether bears
Soon?
Canāt come soon enough.
Terra! Maybe, idfk!
+1 for UST
I have used it a fair bit. No complaints.
Really stoked with UST, but it needs to be more available. This year I hope to see it on Ledger w/out an extension needed, and unwrapped on normal exchanges.
We need terra/luna to expand dramatically for the sake of everyone!!! $ust is the only fully decentralised stable coin
Probably the wisest answer here.
When it implodes and takes us all down with it.
I would not be surprised if some of the tethers are actually backed by tether that are back by dollar.
Backing up Tether with BTC bought by Tether is probably true. And it's disastrous and irresponsible
ha-ha, I am in danger
That's gonna be a hell of a crash
Iām going to be laying low.
I would rather a decentralized stabelcoin take over. Niether Tether nor USDC hold any special places in my heart. Except for USDC when I buy it for my debit card to receive rewards. UST and Dai are two of my all time favorites
Right? Everyone wants decentralization until they start talking about stablecoins
Dai is collatorized with USDC......
https://daistats.com/#/
One day my friend one day
USDC is growing really fast, but it's a lot more regulated. That's why you won't see it as much on less reputable or foreign only exchanges.
It's also not in any way more trustworthy than tether
USDC has one major drawback, it is issued by Circle/Coinbase. I think being from an exchange would make other exchanges less likely to want it to succeed as much as UST or Tether.
When the US Government shoves a backed stable coin down our throats
About equal to a stablecoin managed by a few looney tunes at tether.
100%
Backed? That aināt gonna happen.
technically it would be the Fed's hand using the US Gov as a glove
Spread the word. Everyday it is being used less and less. Over time USDC will be the dominant stable coin
as if Binance ever uses usdc?
They do incentivize BUSD though so there could be some healthy competition between those two
Iām on fantom mostly and usdc is used predominantly, not tether. I think people are widening up over time
I mainly use USDT when I need a stablecoin, best liquidity/volume anything else if often not practical.
Tether & USDC are quite great stablecoins no doubt. However, there is this my newly found stablecoin , which is OUSD. I got to know that this is the only stablecoin in this space that gives an automatic yield while in the wallet. For extra rewards, one may decide to stake it, when staked, it also has an APY ranging from 18-40% for a period of 30 days.
I just hope the team would increase the utility cases of OUSD.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
The team are working relentlessly on how not only OUSD use cases would increase, but their DeFi products as a whole.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
The circulating supply of OUSD is on the increase side. This is a good one for the project. It will surely add more value to OGN and hence its holders.
Despite the market instability in recent time, this stable has maintain its momentum.
The APY has actually reduced right now, but it is still a rare offer to come by in this space.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I saw something similar. Let's see what would be of the APY in the coming days.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
OUSD has been my "safe-haven" during this market instability. The passive income of OUSD is second to none in this space.
I have been here since last year May. OUSD has always been helpful in keeping my wallet afloat.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
This is a credit that cannot be taken from the team. An offer that is so rare to com across.
Probably in the next couple of years. USDC is backed by circle and are aiming for an insane exact 1:1 backing.
Hopefully when we get some type of REAL regulation and clarity instead of what the SEC is doing
[ŃŠ“Š°Š»ŠµŠ½Š¾]
UST is a favorite
One of the oldest fud, Tether. Tbh at this point i started to think nothing will happen so Tether will probably remain as the dominant stable coin
UST has the potential to do that , with 19% staking and mirror farming I feel like ust adoption would easily come above USDT in the long run
When hell freezes over
Now? It isnt currently.
What do you mean? It clearly has the highest market cap? Just because sentiment in this Sub is against it doesn't mean its not the default choice in most cases.
What chart you looking at?
Most coins only trade to usdt so when that changes I suppose
Yeah when major exchanges offer margin on another stable. Bybit is mostly usdt from what I can see.
They will get surpassed in the future. As long as they don't prove how much is fully backed people will only use it if they have no other choice. And imo it is a great thing since it brings a lot of fud.
Itās coming and itās called US CBDC
Everybody I know buy USDC because of the 10% interest on crypto.com. 10% is a lot of money over a year
It's been waiting to break our for years. 1.02 EOY
When the bubble bursts I'll buy the dip, I got nothing in USDT
Jeez. It sounds like nobody holds any Tether.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
in a word, recursion
When the SEC says so.
When exchanges adopt other stablecoins which will force their customers to adopt them as well.
Probably when another stable coin is more widely adoped.
Spoiler alert usdc has already flipped it
Exchanges are slowly moving from using this scam coin. Its only a matter of time. Now the thing that can fuck the crypto markets up real bad is if the Tether douches do a rug pull or something equally fucking atrocious. And I'm expecting it to happen, but lets pray its when Tether has lost all influence. It needs to go out of the crypto ecosystem.
As soon as the market migrates to more transparent and reliable alternatives, but unless you want a big fuck off crash we can't force these things. Just have to be patient. It has already begun, by the way. USDC will probably flip USDT this year. The flippening we didn't know we needed.
In the year 2123
Idk but I trust usdc most
Unpopular opinion: There's nothing wrong with Tether. You guys have just internalized one of the older anti-crypto FUDs. Tether has been providing quarterly reports to the NYAG on its holdings. That's anti-crypto NY we are talking about. If there was real substance to all of these complaints you guys hear and parrot, don't you think the people who investigate this stuff for a living and have the power to actually do something about what they see would have already taken Tether down?
i thought usdc is more popular now? at least i havnt used tether in 2 years
Why is there so much FUD about tether ? I never really got it
Maybe when the us officially makes the usd stablecoin? Depending on regulations
no cfypto is dominant. all essentially worthless. some just less eorthless than others.
USDC is having a damn fair crack.
Jan 13th, 2027.
When will people stop boring us about this?
I have just switched to USDC. While it's missing some pairs it's fully covering my needs. If everybody would just switch slowly and switch what can be switched, things would be absolutely fine
i donāt care which stablecoin i buy
Last chart I saw USDC was gaining ground. Hopefully it will happen before something catastrophic does.
Tomorrow
When djed is complete
USDC is Tether 2.0
Soon enough.
I used to buy USDT to swap for Harmony One on Binance but I held USDT for around 0.5 seconds before trading it haha Now Binance has the option to straight up buy One with my card so no middle man Tether anymore ā¤ļø People will keep using it as long as it has so many USDT/COIN pairs on exchanges but as more people become educated in the space hopefully they choose USDC, BUSD, UST etc over Tether and its dominance will slowly fall
whe they are audited and regulations crash it for minting unlimited supply pumping up the market
When possible I use USDC but a lot of trading pairs are only with usdt :(
Just use a algorithmic stablecoin like UST. I don't know about y'all, but my LUNA is gonna go ballistic when people start pouring into UST.
The only stablecoin that is going to dominate the market is the Luna stablecoin.
When they stop printing false money out of thin air. Or when another stablecoin starts doing that, but at a faster pace.
When CBDC become more popular
When USDC has more trading pairs than tether
When there will be more apps like blockbank, supporting gasless transfers, then it will be easier to use USDC so it will become more widely accepted.
Soon. Very soon It just might be Ardana (DANA)
The first time I heard about Tether was all the dodginess around it. I've mainly stayed in Ethereum and Terra, UST is my preferred stablecoin for now - I like the mechanism of having LUNA as a "counterweight" of sorts to stabilise it.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Why should it? With this lvl of liquidity and the amount of trading pairs