Bitgesell - Tether or USSD?

 


Stablecoins: Doomed to Fail?

Tether (USDT) is a stablecoin aiming to maintain a 1:1 value with the US dollar, but its safety relies on several factors. Can you trust it? USSD is a new stablecoin backed solely by cryptocurrencies: BTC, ETH, DAI, and BGL. It's censorship-resistant and aims to be revolutionary. Discover more in the following topics.


USDT Trust

Tether's stability depends on your trust in the company behind it, Tether Limited. It's crucial to be aware of concerns regarding transparency and reserves backing USDT. Please read the links below.


Regulatory Environment

The regulatory landscape for stablecoins can impact their safety. Changes in regulations can affect how Tether operates.


Alternatives

Several stablecoins are available, including USDC, DAI, and the new USSD stablecoin, which may have varying levels of transparency and trustworthiness.


Stablecoin USSD

The Autonomous Secure Dollar (USSD) is an open-source protocol designed to create an autonomous ERC20 stablecoin. It's pegged to the US dollar and boasts a multiple times collateralization ratio, ensuring long-term stability. The USSD protocol consists only of crypto assets and has no ties to any physical-world financial instruments such as banks or treasuries.


Resources for USSD:

Whitepaper:

https://github.com/USSDofficial/ussd-whitepaper/blob/main/whitepaper.pdf

USSD Official Site:

https://www.ussd.ai/


Is Tether a Time Bomb? 

The assertion that "Tether is a time bomb" is a subjective opinion held by some individuals or experts in the cryptocurrency space, including Congressman Brad Sherman. This opinion may stem from concerns about transparency and backing of Tether's USDT stablecoin, which has faced controversies and scrutiny regarding USDT reserves and regulatory issues. However, it's crucial to note that opinions on Tether vary, and not everyone agrees with this characterization. Whether Tether poses a significant risk to the cryptocurrency market is a matter of debate and ongoing investigation by regulators.


More information about Tether Time Bomb:

Medium Article:

https://medium.com/predict/usd-tether-the-largest-ticking-time-bomb-in-modern-financial-history-8ac839c9aea

The Block Article:

https://www.theblock.co/post/133369/tether-is-a-time-bomb-says-congressman-warren-davidson


DYOR - Do Your Own Research and consider your risk tolerance when using any stablecoin. Diversifying your holdings can help reduce risk.


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