In a casual discussion about Tether, one of the community member was curious to know if one of the famous exchanges, cold wallet phrase was lost or holder deliberately do not open the wallet , can we froze USDT on this address wallet ? Make new USDT and then transfer to the users who have money on the exchange?
This interrogation has come after Tether has begun proving to be one of the trusted cryptocurrencies by helping recover wrongly sent funds.
One of the users sent a wish stating I hope you guys don’t shut shop ever and just keep printing USDT till end of time – what will happen if this is the case?
Sydney Ifergan, the crypto expert tweeted: “Tether (USDT) According to some people is the charger to the Bitcoin Phone. Good to read. Reality is something that real time experience should tell us.”
Counter opinions goes like Tether is risky. One of the users stated, that with more chains wrapping BTC, the cumulative sum of all wrappedBTC will grow bigger than USDt tether within the next 5 years. Every scalable POS chain would prefer to make a BTC wrapper, over Tether any day. Thus, reinstating that Tether is risky.
Many of them however, see bitcoin as the gateway cryptocurrency and Tether as the road which interconnects everything else. They tried giving an analogy stating, when you build a kingdom the entrance and infrastructure has to be appealing. We all have different opinions on what crypto will look like in the future I guess. Reality will unfold in its own way though.
A hilarious query goes like if someone withdraws cash from ATM, will circulating supply of Tether immediately decrease by that amount?
Tether (USDT) Would Not Slip Outside Regulation
Despite what naysayers have to say, Paolo Ardoino in the past expressed, “Tether USDt is a centralized stablecoin as others. We have duties towards users, regulators and law enforcement. We have anyway strict rules and parameters for action. We won’t slip outside those.”
Another practical thing stated by a sensible cryptocurrency user is that crypto will always be a blend of centralized and decentralized coins that serve different purposes and have different characteristics. If you don’t like the capabilities of decentralized coins, don’t buy them. This can be the best advice because the crypto world is evolving and it comes with its own take of risk. Tether is here to stay for practical reasons.
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