what's going with USDT?

[Sunya]

Hmm so what was your point when you said btc is “deflationary”? You think increasing tx fees will increase its value?

Also, you think usd will more inflated just because you hold it?

I am just trying to understand what you are saying, because it doesn’t make any sense.

BTC is deflationary because of halving every four years.

 

[Gogol]

BTC is deflationary because of halving every four years.

What??!! NO, the generation of new btcs is. Your btc won’t get magically burned or anything. It doesn’t mean shit. Price of btc will depend on how many people want to buy it and for what price. Cmon guys, atleast do the basic research first.

If anything, it will become costlier to verify the next block and the tx fees will increase. People will stop using it and move on to some elon cum coin lol.

 

[Sunya]

What??!! NO, the generation of new btcs is. Your btc won’t get magically burned or anything. It doesn’t mean shit. Price of btc will depend on how many people want to buy it and for what price. Cmon guys, atleast do the basic research first.

If anything, it will become costlier to verify the next block and the tx fees will increase. People will stop using it and move on to some elon cum coin lol.

You are entitled to your own opinion. Keep on believing what you hear from one other. Thats why I used the term - "echo chamber".

 

[deppo]

BTC is deflationary because of halving every four years.

It's not that, it is the simple fact or price ascend in fiat terms.

In other words, what's the YoY BTC return on USD/USDT.

For instance, last year BTC price went up by 60% or something while US dollar purchasing power fell let's say by 3% through money printing.

What does that mean?

That if you go to the supermarket now you will pay $10 for 20 eggs, If you went last year you would pay $10 for 21 eggs, this means you lost purchasing power through inflation in one year.

If you do the same with BTC and paid in BTC both times, you would get 21 eggs last year and 45 eggs now as opposed to 20 if you had held your money in USD.

This is why BTC is deflationary and USD is inflationary.

This is why everything gets cheaper with time if you hold in BTC compared to fiat.

 

[MR.Spuf]

is usdt going to be unlisted or is it gonna devalue? what's going on, if I had USDT should I swap it

If you're from EU, swap it to ISDC because most dexes will disconttinue workong with USDT because they of the MICA legislation.

 

[Bhavapriyan]

is usdt going to be unlisted or is it gonna devalue? what's going on, if I had USDT should I swap it

can i know what is USDT

 

[hellz angle]

they are fighting usdt very much now no idea why but crypto became so risky more than ever now big money went in and they will play with us

 

[Sunya]

It's not that, it is the simple fact or price ascend in fiat terms.

In other words, what's the YoY BTC return on USD/USDT.

For instance, last year BTC price went up by 60% or something while US dollar purchasing power fell let's say by 3% through money printing.

What does that mean?

That if you go to the supermarket now you will pay $10 for 20 eggs, If you went last year you would pay $10 for 21 eggs, this means you lost purchasing power through inflation in one year.

If you do the same with BTC and paid in BTC both times, you would get 20 eggs last year and 45 eggs now as opposed to 19 if you had held your money in USD.

This is why BTC is deflationary and USD is inflationary.

This is why everything gets cheaper with time if you hold in BTC compared to fiat.

You are right. That's only one side of it though.
The dynamics will change when Fiat loses it's hold over people's minds. In a world where mass adoption of BTC has happened, BTC will have to be deflationary with respect to itself. And that's mathematically ensured by halving.

 

[Gogol]

It's not that, it is the simple fact or price ascend in fiat terms.

In other words, what's the YoY BTC return on USD/USDT.

For instance, last year BTC price went up by 60% or something while US dollar purchasing power fell let's say by 3% through money printing.

What does that mean?

That if you go to the supermarket now you will pay $10 for 20 eggs, If you went last year you would pay $10 for 21 eggs, this means you lost purchasing power through inflation in one year.

If you do the same with BTC and paid in BTC both times, you would get 21 eggs last year and 45 eggs now as opposed to 20 if you had held your money in USD.

This is why BTC is deflationary and USD is inflationary.

This is why everything gets cheaper with time if you hold in BTC compared to fiat.

This is a much much better reply. I don’t agree with it, but yes, it is not impossible. That deflation thing was a joke lol. I atleast hope it was.

 

[Lukmat]

I have never seen anything other than 1 BTC = 1 BTC. You want to use crypto for its Fiat value? That's your problem. To say the least, you don't understand BTC and what's to follow.

People are using crypto for payment solutions across continents without dozens 3rd party banks, fees and instant time
Not only to hoooodl stupid BTC

 

[Sunya]

People are using crypto for payment solutions across continents without dozens 3rd party banks, fees and instant time
Not only to hoooodl stupid BTC

BTC is stupid and USDT is alright? Wow, I am out of here. You scare me.

 

[slowrumors]

can i know what is USDT

wdym fkn cryptocurrency, bro lives under a rock

 

[Lukmat]

BTC is stupid and USDT is alright? Wow, I am out of here. You scare me.

I don't care if that is USDC, USDT, XRPUSD (incoming), or different stable coin.
I am keeping that to fast transfer money to Asia, USA, or anywhere else with few dollars fee, instant receive and ability to pay once / year 19% tax for changing it.

BTC is stupid, because it's not designed for transactions, you pay $20 to send $20, it's price jumping like in some russian casino.
Cryptos are not only to speculate with them, but to use as payment solution.

 

[Gogol]

BTC is stupid and USDT is alright? Wow, I am out of here. You scare me.

Dude, nobody is saying that. Don’t assume. Take crypto as digital assets (and not currencies…). Just like you would for some company share or buying a house (thats a physical asset). Cmon, you could do better. You seem to be an intelligent user judging by your previous posts.

 

[Lukmat]

Dude, nobody is saying that. Don’t assume. Take crypto as digital assets. Just like you would for some company share or buying a house (thats a physical asset). Cmon, you could do better. You seem to be an intelligent user judging by your previous posts.

I am saying xD
But I am saying only because it's not for normal market transactions usage.
You buy BTC for $1000 to spend for goods in Asia. You are going to pay $50 for sending, transaction time 2 hours and your partner will say "Dude, my coins are worth $800 now, wtf"
People dream about world adaptation, but how to adapt something like that for transactions when:
-transaction cost is huge
-transaction time is long
-value is changing too fast
I know some fanboy will tell about lighting network, in 2024 still many exchanges and wallets don't even support lighting network

XRP is amazing, low cost, instant speed, but still it's changing values too much. We need stable coin they are working on.

 

[Gogol]

XRP is amazing, low cost, instant speed, but still it's changing values too much. We need stable coin they are working on.

I have a (small) bag full of it, but i don’t wanna promote it lol sorry.

 

[Lukmat]

I have a (small) bag full of it, but i don’t wanna promote it lol sorry.

I sold $1500 when it was $0,4 ;(

 

[Gogol]

I sold $1500 when it was $0,4 ;(

damn!!! damn!!! But past is past. Heck I sold when egold (multiversx now) was below 50 and it reached over 600 (or something… just saying from my memory) at certain point of time. Past is past.

 

[Racc00n]

USDT is the same ponzi as USD just on a smaller scale: they print tokens out of thin air and don't give a damn about backing it up. one day music will stop but i doubt it will be this year.
and the bubble bursting doesn't start from "omg, it's delisting, get out!". most of the time it looks like: "shhh, is oke, just buy more bro"

 

[RML]

is it gonna devalue

No. 1 USDT is equal to 1 USD.