The problem with the stablecoin is that, we don't have the coherent doctrine of a true algorithm to preserve the fundamental value of a stablecoin, it is still in the experimental stage, there are alternatives to USDT, but for a variety of reasons they dont gain that kind of widespread adoption.
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The problem is that people are trying to get the value out of an algorithm instead of building value into the stablecoin.
This is a point that I am trying to spell out to people. There are many ways to build it and we need to focus upon the four different areas with HBD.
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Exactly, that's the point. With a sound capital, and taking advantage of the algorithm, there are people who are making their fortune safely. And that's the problem.
I would be curious if USDT is fully backed. I'm using BUSD lately.
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USDT keeps on changing its stance on whether it is fully backed or not. So apparently it's not transparent and if you look into the on-chain stat of how they print USDT every single time BTC dips, it raises suspicion.
Unfortunately, in a decentralized ecosystem, we have a single large concentration of USDT which is a manipulative stablecoin IMHO, most of the users are gullible, so they prefer to keep USDT as a hedge on the premise of its market cap. So I think the people should do a favor to themselves, and make a why-why analysis on USDT as the stablecoin. An informed choice is always better.