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Nairaland Forum / Nairaland / General / Investment / USDT Is Not The Same As US Dollar (29958 Views)
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Re: USDT Is Not The Same As US Dollar by wealthyvic1: 12:01pm On Feb 23 |
[quote author=Kenneth4u205 post=128603873]Foolish op . So why did TINUBU ban binance if USDT has nothing to do with dollars?. And for your information there is crypto ATM card which you can use for shopping or even withdraw money from any ATM machine. Here in south Africa ,we shop with crypto ATM Card and wallet balance. USDT is the same with physical dollars . But it's a digital currency. Same way that the Bank transfer you send to your girlfriend is also a digital Naira Educate them. God bless you 1 Like |
Re: USDT Is Not The Same As US Dollar by twosquare(m): 12:02pm On Feb 23 |
omoadeleye:USDC bawo.... who are these ignoramuses? 3 Likes |
Re: USDT Is Not The Same As US Dollar by Amaggedon: 12:03pm On Feb 23 |
Obierika:There is nothing like tribalism in what i said . Tribalism is apointing incompetent fools from a particular tribe because the president is from that tribe and that is the problem of the country and the naira . Trying to use some foolish propaganda is the height to foolishness and that is what the yorubas are doing now. |
Re: USDT Is Not The Same As US Dollar by hayoholla(m): 12:04pm On Feb 23 |
CuriousX: Yeah I know the politician set the wheel in motion, but the purpose of the reply is not to trade blames. It is to point out what you think as a scheme for enriching yourselves as a recipe for economic disaster in the end,but you need Ask yourselves, does it make sense to store up and speculate against a currency with USDT that has no real or tangible value for trade. |
Re: USDT Is Not The Same As US Dollar by Error401: 12:06pm On Feb 23 |
is USDT only used in Nigeria? Why is it not affecting other countries currencies? Even the US uses USDT, there are coys who offers payments in BTC, USDT, BNB. NigerianEagle: 2 Likes |
Re: USDT Is Not The Same As US Dollar by IamAtikulate: 12:06pm On Feb 23 |
We will continue to hold our money in USDT. Don't cry for us. We know what we are doing. 4 Likes |
Re: USDT Is Not The Same As US Dollar by SenecaTheYonger: 12:07pm On Feb 23 |
Kimcutie: Bro that’s not virtual dollar. No US government entity will accept USDT. It’s not dollar. It’s called Tether. Even US embassies won’t touch USDT and you claim it’s their money? |
Re: USDT Is Not The Same As US Dollar by Daystar7: 12:08pm On Feb 23 |
Please what's the use of enaira if USDT as you claim it to be? All this agent of evil government don't know when to stop. Shameless 2 Likes |
Re: USDT Is Not The Same As US Dollar by SenecaTheYonger: 12:12pm On Feb 23 |
[quote author=wealthyvic1 post=128604921][/quote] When you go to withdraw 1OO USDT in atm, do they give you $1OO usd? And can you prove this? |
Re: USDT Is Not The Same As US Dollar by ejieddy: 12:18pm On Feb 23 |
I have been saying this before... They are not the same o |
Re: USDT Is Not The Same As US Dollar by betshopagent(m): 12:20pm On Feb 23 |
Only in Nigeria! It is only in Nigeria will an Olodo come to a public space and be spewing rubbish and his fellow Olodos would be hailing him. APC did it, you too can do it. Illiterates are the loudest people on earth. Carry on ,we no dey even argue it 1 Like |
Re: USDT Is Not The Same As US Dollar by michael132(m): 12:21pm On Feb 23 |
faceland:blike Na me this post go save oo..about putting a substantial fund as the naira de crash 1 Like |
Re: USDT Is Not The Same As US Dollar by Lifestone(m): 12:22pm On Feb 23 |
Bluearrow:I hope you know what you are saying? Ghana fell to a point where they have to rebase removing three zeros from their currency, meaning if you were holding 10,000 before, you now have 10. Since then, the currency has gone further one zero down |
Re: USDT Is Not The Same As US Dollar by betshopagent(m): 12:22pm On Feb 23 |
Judithjovial:Dont argue with idiots, they actually beat you with their stupidity. 2 Likes |
Re: USDT Is Not The Same As US Dollar by Llyodsjids(m): 12:23pm On Feb 23 |
Tugee:U dey mind them People wey dumb. The USDT is actually reducing pressure on the actual USD. The government was printing naira like shit, they didn't complain, used the oil wells and future oil production for loans , still nothing How about using the foreign reserve as collateral too to JP Morgan and Goldman Sachs? But USDT which is a stable coin, and has billions of USD bonds is the problem? Better hold your government responsible. 5 Likes |
Re: USDT Is Not The Same As US Dollar by bigiyaro(m): 12:23pm On Feb 23 |
Money is what people says it is. Bitcoin has value cos people believe and use it to exchange value. Tell your fvcking clueless govt to provide value to the world, this is the only thing that will add value to the naira, not clamping down on crypto freaks, most rubbish govt hates crypto cos there can't control how people get rich from it. It's funny how money printed from thin air is rendering the naira surpossedly back by crude oil, gold and all the natural resources found in Nigeria, very useless. 3 Likes 1 Share |
Re: USDT Is Not The Same As US Dollar by OneKinGuy(m): 12:26pm On Feb 23 |
USDT is designed to be always worth $1 US 1 Like
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Re: USDT Is Not The Same As US Dollar by Miyachi: 12:30pm On Feb 23 |
Procashtips:By your logic, you shouldn't be keeping USDT then because it is pegged to USD. Do you need to audit the USD? |
Re: USDT Is Not The Same As US Dollar by Error401: 12:31pm On Feb 23 |
g Tugee: |
Re: USDT Is Not The Same As US Dollar by Landowner101(m): 12:32pm On Feb 23 |
omoadeleye:. Thanks very much for your advice, but naira isn't an option |
Re: USDT Is Not The Same As US Dollar by oladele239(m): 12:36pm On Feb 23 |
Your politicians are stealing billions and converting to usdt... If you know , you know ! Dey play! 3 Likes |
Re: USDT Is Not The Same As US Dollar by Procashtips(m): 12:36pm On Feb 23 |
Miyachi: That's what I'm telling you. If USDT is worthless, same is the piece of paper called USD and every other currencies pegged to USD. Only currencies pegged to things like gold should be accorded value. Yes, you need to audit the USD, else it becomes unaccountable and unreliable. |
Re: USDT Is Not The Same As US Dollar by Procashtips(m): 12:38pm On Feb 23 |
SenecaTheYonger: There are more than 250+ companies that accept USDT I posted the link above. Even airlines. 2 Likes |
Re: USDT Is Not The Same As US Dollar by oladele239(m): 12:39pm On Feb 23 |
There's heavy pressure on naira because of insecurity... Kidnappers demand millions in ransom and most times they get paid in dollars 💰 Fix insecurity Fix the refineries Naira will heave a sigh of relief ! 1 Like |
Re: USDT Is Not The Same As US Dollar by Bluearrow: 12:44pm On Feb 23 |
Lifestone:Na usdt make Ghana currency fall?? A country without light, unemployment zero, no good roads, insecurity everywhere, export capacity is zero, how on earth will such currency withstand dollar without support. Go read 50 cent recent comment on Nigeria. The govt will stop this floating after sometime and start paying again, my only worry is hope they don't do it late. Because they will be starting from the current exchange value to start defending it. Same way they are now paying subsidy at 700 naira, something they removed at 195 naira. 3 Likes |
Re: USDT Is Not The Same As US Dollar by macklef(m): 12:49pm On Feb 23 |
PepeXKermit:2015? Just 7 years. Nigerian currency has been existing for how long? In 7years 1naira was cents. Just trade with caution is what OP is saying |
Re: USDT Is Not The Same As US Dollar by Walai(m): 12:49pm On Feb 23 |
My old man worked for 35 years as a civil servant and was able to save 3.5m when he retired in 2017. I talked to him about saving in USD or crypto wallet instead of saving all his money in volatile naira pending when he will invest it in his proposed business. He refused and believed in our naira and insisted on leaving his cash assets in first bank account. Now the money is worth less than #800k Who is more foolish, the Nigerian that believed in naira or the other that believed in virtual currency? Our leaders keep giving us reasons not to believe in this country every passing day. NigerianEagle: 3 Likes |
Re: USDT Is Not The Same As US Dollar by Farrason: 12:50pm On Feb 23 |
NigerianEagle: Are you aware that this is what is used to measure BTC and every other coin in the crypto space that is discussed all over the world. This your opinion is same one that people have about the cryptocurrency that people's wealth could disappear and that it's not same with physical money. There are still very strong critics of BTC and doing their best more now than ever to discredit crypto space and you can't talk crypto without the USDT as this is yardstick to measure your crypto value based on it's peg with the USD. However look around you.... The world has left you behind. It's going digital and instead of fighting the change, institutions are being created or put in place to effect some form of policies and regulations to meet with these digital changes. This proves to you that CHANGE IS INEVITABLE. We can not hide from it and we can not run from it and we can not resist it either. If you persist you will become obsolete. Hence, BTC ETF became a success and gradually making a name even on Wall Street and this is not a Nigerian Effect. Nigeria's problem did not start today and if we must revive the economy we must call a round table and tell ourselves the simple truth however look round you again... Who is ready to say the truth. The VIP according to Fela " Vaga****ds in Power" will never do that. Rather what do we have - fill the words yourself and add with impunity to each word you come up with. From then till now, na who Dem expose we see o. As a human being, when you borrow excessive ly, without boosting your income avenues to repay and stop the borrowing.... How do you expect to meet up over time. Instead, you flex and share with your guys, even the ones we generate from NNPC, etc is syphoned to people's pockets. All na hard currency. Now, you ignorantly continue to borrow in foreign currency with an increasing margin in exchange rate to yours and still go ahead to devalue yours to woe investors without developing your country, creating jobs, revive your economy and boost production.etc. This is the bullet that our government have shot themselves without knowing and gradually we are beginning to feel the wound now. Everybody from head to toe. If you are rich and say it's a lie... then you don't know what hunger breeds. Nigeria's debt is killing the Naira in the face of a failing economy. No other country owes more than America or western world but is their economy working... You know the answer otherwise, we for no dey japa go yanki. If the Naira must stand... The President must go after the people that have looted us blind!!! They stole in BILLIONS OF DOLLARS!!! And they are STILL STEALING EVERYDAY Adage: If you hold a yam at the bottom to roast... After a time, you will turn it's bottom to roast as well. The country has been roasted on one end for a long time and now, the roast is about to start from another end. @ FG, Quench the fire now and recover our stolen wealth 4 Likes 1 Share |
Re: USDT Is Not The Same As US Dollar by 49cents(m): 12:51pm On Feb 23 |
SenecaTheYonger: The USD can not be backed by US Government or US Military... currency is supposed to be backed by a real resource from rare metals like Gold or by Diamond or any valuable commodity. 1 Like |
Re: USDT Is Not The Same As US Dollar by cedricksly: 12:56pm On Feb 23 |
NigerianEagle:in as much as we all know Usdt operations is sketchy, compared to usdc whose audit is public, they literally print money form thin air, but never ever use Do kwon UST & Luna as an example because the mechanism he used to peg that stablecoin was always meant to fail and be exploited, he was warned severally, so you don't know? Go read about it. Lastly and most important it is in the Intrested of big companies who has any form of crypto in their balance shit for USDT not to depeg or crash. If USDT crashes, everything is going down with it, and the Crypto industry might never recover from it... Usdt is traded with almost everything on the face of crypto market, u know how much is in USDT right now? Don't eveb rosy for such coz it will after u either direct or indirectly. 1 Like |
Re: USDT Is Not The Same As US Dollar by Lordsonn: 12:58pm On Feb 23 |
Government sponsored post Rubbish post 2 Likes |
Re: USDT Is Not The Same As US Dollar by jaephoenix(m): 1:05pm On Feb 23 |
NigerianEagle:Its okay to yarn dust when you don't understand something. USDT is accepted by a wide range of stores which are shown on my screen shot. In fact i bought my laptop 2 years ago on Amazon with USDT(on ERC 20) via Bitpay. Even if one is uncomfortable with USDT, there is USDC, DAI etc which are backed with USD and ETH, and they have been audited and verified. STOP CAPPING 3 Likes 1 Share
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