Paolo Ardoino got quite nostalgic and stated, that Bitcoin is technology and financial elegance. He pointed to how since September Tether added to the market cap a value which is equivalent to the sum of all the current market caps of all the other alt-stables.
Some of them felt that there is nothing so good to feel about it pointing to the same criticisms like Tether isn’t backed by USD 1:1 and that Tether is not audited. Some of them also stated that the CBDC are coming soon and how Tether dominance will end.
However, there were supporters who agree with Paolo and stated that it should have been hard to achieve.
One of the users stated, Tether will have to become a regulated eMoney token and that nobody seems to understand the risks and that after January 10, 2020 non-registered stable coins may well become invalid.
Meanwhile some of them were eagerly waiting to know if there were a list of registered stable coins.
Meanwhile Paolo pointed to how mean Nouriel Roubini was to say: “The unbacked Tether printing machine keeps on cranking fake money and use it to prop up BTC and all sorts of S*coins. Luckily law enforcement authorities are investigating…so expect in due time a crackdown.”
Some of the users rightly stated, the poor guy is probably having an aneurysm looking at the price chart.
The community response was mixed and one of them even stated, there seems to be a large group of people who believe this ridiculous theory.
In this regard, Sydney Ifergan, the crypto expert tweeted: “Tether (USDT) does not have 100% good review like any other good product. Those who can’t get to a position keep criticizing. Those who perform keep performing.”
Tether (USDT) Tetherization of Trading
When talking about Paolo expressed that Tether’s growth during 2020 has been nothing short of spectacular. He also spoke about Tetherization of trading, with a lion’s share of spot trading volume which is now denominated in Tether. He also pointed to how the market has spoken. He concluded stating, Tether is preeminent. People trust Tether and like using crypto’s most liquid, stable and popular stablecoin.
No matter what who have to state, as the most stable and liquid stablecoin, Tether are proving itself to be one of the most trusted cryptocurrencies. Also their team are working to further grow into online commerce and traditional finance. Tether is made available in several blockchains it provides for improved interoperability. Due to its interoperability it is very useful for trading.
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