5 ms·

The public does not have proof that USDT is collateralized with real life assets. I'm not sure about USDC.

luka-birsa 6y ago
The public know that USDT is not fully collateralised with real life assets. This has been publicly stated on Tether page as well. So can we please stop parroting this USDT bullshit, nobody cares how tether is backed and with all the alternatives to USDT there is no reason to use it but from a perspective of ease-of-use and wider offering of trading pairs. You have DAI, USDC, TUSD, BUSD.... You can check which one is audited (USDC and TUSD) and will credit you fully if you need so. You can also work directly with USD at various reputable crypto exchanges (eg Bitstamp, Coinbase, Kraken). This tether FUD always resurfaces as price goes up as people are butthurt that they did not buy the last dip. No worries, history will repeat itself. This year we'll see BTC hit 100k+ and end the massive bull run in 250k teritory by 2022. After that we'll see everybody dumping their cash in BTC and the bubble will burst on the wings of massive FUD & regulatory bullshit. Bitcoin willl drop to ~20k and cycle will repeat. For those that weren't watching, this repeats itself every ~3 years for past 10 years. Keep watching the news... USDT stories will become more regular, next will be China bans, Russia bans... then we'll continue with EU regulation push, US regulation push, new tax laws.... The only smart thing you can do is start investing a small amount every week and forgetting about it. Cancel two lattes (or lottery cards, donuts) per week and buy BTC and ETH instead. Imagine starting doing this in 2016, when ETH was launched. You bought ETH for 1 USD. Today it's hitting ~1700 USD. You would retire easily. Too bad you're so hard at work telling the world that crypto is a scam.
- dang 6y ago
  Please don't take HN threads into flamewar like this. We ban such accounts, because we're trying for something significantly different on this site. Fortunately your account doesn't seem to have a history of this; please go back to avoiding it here. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html

The public know that USDT is not fully collateralised with real life assets. This has been publicly stated on Tether page as well. So can we please stop parroting this USDT bullshit, nobody cares how tether is backed and with all the alternatives to USDT there is no reason to use it but from a perspective of ease-of-use and wider offering of trading pairs. You have DAI, USDC, TUSD, BUSD.... You can check which one is audited (USDC and TUSD) and will credit you fully if you need so. You can also work directly with USD at various reputable crypto exchanges (eg Bitstamp, Coinbase, Kraken). This tether FUD always resurfaces as price goes up as people are butthurt that they did not buy the last dip. No worries, history will repeat itself. This year we'll see BTC hit 100k+ and end the massive bull run in 250k teritory by 2022. After that we'll see everybody dumping their cash in BTC and the bubble will burst on the wings of massive FUD & regulatory bullshit. Bitcoin willl drop to ~20k and cycle will repeat. For those that weren't watching, this repeats itself every ~3 years for past 10 years. Keep watching the news... USDT stories will become more regular, next will be China bans, Russia bans... then we'll continue with EU regulation push, US regulation push, new tax laws.... The only smart thing you can do is start investing a small amount every week and forgetting about it. Cancel two lattes (or lottery cards, donuts) per week and buy BTC and ETH instead. Imagine starting doing this in 2016, when ETH was launched. You bought ETH for 1 USD. Today it's hitting ~1700 USD. You would retire easily. Too bad you're so hard at work telling the world that crypto is a scam.

dang 6y ago
Please don't take HN threads into flamewar like this. We ban such accounts, because we're trying for something significantly different on this site. Fortunately your account doesn't seem to have a history of this; please go back to avoiding it here. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html