slavaan Posted May 2, 2019 #1 Posted May 2, 2019 The popular crypto stablecoin Tether USDT got into real trouble ... Now the company ADMITS that it's not fully USD-backed as they always had previously stated! https://all-stocks.net/fablecoin-tether-finally-fully-discloses-that-usdt-is-only-74-backed-by-usd/ This could be the beginning of the end for Tether as many crypto investors might lose trust in the stablecoin and would withdraw their investments. Do you think this is Tether's end?
Kate Posted May 4, 2019 #2 Posted May 4, 2019 On 5/2/2019 at 12:34 PM, slavaan said: The popular crypto stablecoin Tether USDT got into real trouble ... Now the company ADMITS that it's not fully USD-backed as they always had previously stated! Wow a pretty huge statement even though the sentence is small because of the lie it is a pretty big statement , always never trust these companies that promise tether is or any coin is backed by earthly things.
williamshennie9 Posted May 4, 2019 #3 Posted May 4, 2019 I think it will definitely have a negative effect on the price of it, and the demand, however I do not think that it will be the cause of Tether's downfall. But honestly, if I owned some of it, I would probably also conser selling some.
ginoso2019 Posted May 4, 2019 #4 Posted May 4, 2019 it seems to be true justhope it does not affect the bitcoin price
KiXxnTRiXx Posted May 4, 2019 #5 Posted May 4, 2019 On 5/2/2019 at 2:34 AM, slavaan said: The popular crypto stablecoin Tether USDT got into real trouble ... Now the company ADMITS that it's not fully USD-backed as they always had previously stated! https://all-stocks.net/fablecoin-tether-finally-fully-discloses-that-usdt-is-only-74-backed-by-usd/ This could be the beginning of the end for Tether as many crypto investors might lose trust in the stablecoin and would withdraw their investments. Do you think this is Tether's end? XD im not surprised at all.. as i mentioned on another post.. alot of these peeps will say whatever you need to hear to get Get you to step foot into the door.. most people do not really question and just go with whatever they read.. so most will use the catchwords to get peoples attention.. like "private, decentralized, great investment, the next big thing.. ect.. hahaha xD.. its a psychological skem..
barbaris Posted May 4, 2019 #6 Posted May 4, 2019 Such news may affect its price, but I think that it will not greatly affect the price and reputation. Many coins are not backed by cash up at all.
Etude Posted May 4, 2019 #7 Posted May 4, 2019 This revelation and the statement made by the companies really would make a big impact on the Tether cryptocurrency from this point onwards.
wry Posted May 5, 2019 #8 Posted May 5, 2019 While not exactly a big shock, this is bad for crypto. Once again a major exchange has been found to be operation in an opportunistic manner. The irony is the company never really demonstrated it was backed by USD to start with, they had a law firm say that they did have enough reserves at one point in the past. The good news is that BTC price is up as people move into it to get their assets off of Bitfinex.
vaname Posted May 7, 2019 #10 Posted May 7, 2019 the news is pretty bad because tether will definitely drop. investors will not believe in the future of this tether, the beginning of a disaster...
bmg Posted May 7, 2019 #11 Posted May 7, 2019 On 5/4/2019 at 2:10 AM, KiXxnTRiXx said: XD im not surprised at all.. as i mentioned on another post.. alot of these peeps will say whatever you need to hear to get Get you to step foot into the door.. most people do not really question and just go with whatever they read.. so most will use the catchwords to get peoples attention.. like "private, decentralized, great investment, the next big thing.. ect.. hahaha xD.. its a psychological skem.. You are exactly right about that . Ppeople will just go with what they read instead of doing a little more research when it comes the thing like this.
Babagucci Posted May 7, 2019 #12 Posted May 7, 2019 Tether will definitely wither away but it most likely won't be overnight. It will take time because the name holds such strong value and it was the first of its kind. It will be interesting to watch that's for sure.
Shaniqua Posted May 9, 2019 #13 Posted May 9, 2019 wow i was always under the assumption that for every 1 tether there is 1 dollar somewhere sitting in a bank account 1:1 kind of deal. but i guess not o:
Elizaveta Posted September 15, 2019 #14 Posted September 15, 2019 Not surprising. I mean, it's not the first time when Tether loses his trustful clients by not providing them the real statement of situation. Now they admitted this, being almost cornered.
Remmik Posted September 17, 2019 #15 Posted September 17, 2019 sorry it was a good coin to me they really liked the tetcher so far
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