Quote from: FirmWars on February 12, 2022, 06:40:50 PM

Please correct me if I got it all wrong, audited projects are projects that have passed some security checkup right? As a newbie I kinda like investing in projects that are audited atleast so back to my question, USDT is the biggest stable coin right? When I tracked it on coinmarketcap I found out that's it passed audits through Certik and Fairyproof, why haven't this clear the rumour that USDT might fail someday? Because it's Centralised? If that's it then why DAI ( decentralized stable coin) haven't grow over USDT all this while?

It is true they have passed some audits, however if you take the time to read them you will see that they guarantee that each USDT was backed by one dollar only until a certain point in time, and you will find that the issue the community has with tether is before that stipulated time, basically there is too much evidence that points out to the conclusion that at some point in time each USDT was no backed by a dollar and as such Tether lied to their customers, and not only this is unacceptable no matter how we look at it but it is even worse when we take into account that this is a decentralized market that has been built in that way precisely because we know that centralized entities abuse their power in the same way tether did.