Recently, Tether ($USDt) got listed on @BitBay, an Estonia licensed crypto-to-fiat exchange.  Despite the controversies surrounding the USDt and the USD peg, crypto enthusiasts continue to like Tether.

Paolo Ardoino recently tweeted:  “Unpopular opinion.  L1 scalability is enough, no need for L2 because we can do 700.5 barrels of tx per second” is not a future proof approach, especially if you’re pushing for everything, its sister and her cats on chain. Of course unless no one is going to use it.”

Further stated, “Bitcoin community has such a huge sense of respect for L1 that is devoting lot of resources to build L2 and side chains. Be like Bitcoin Composability can be achieved on L2 protocols, it is just harder but much more awesome.”

“On a L2, he stated, you can create more complex and P2P-style kind of interactions, LN style for example (LN-BTC/RGB atomic swaps on LN channels for example). That’s just an example. Zk-rollups are a great idea and they are badly needed for #ethereum.”

In response to Paolo’s views one of the community member stated, It’s math. L2 is required to even approach scaling decentralized blockchain-based services anywhere near the global demand met by existing centralized rails. Math also says Bitcoin itself isn’t ideal for this, even w/ L2, due to its block parameters. Will those be adjusted?

Maheen Hernandez, writer at The Currency Analytics opined:  “Tether (USDT) is used to buy Cheap Bitcoin.  This is something that the CNBC said in the past.  Tether is created when Bitcoin Falls! I keep wondering!“

Meanwhile someone from the USDT community approached Paolo asking for a funds recovery solution stating, “My good mate has mistakenly transferred Omni USDT to Bitmex platform (they only accept BTC) a year ago, while the cost service said the USDT is safe, they failed to provide a solution to transfer it back. It’s few hundred thousand USDT.Pls help thx @Tether_to.”

Very soon, they might have to start fund recovery services at Tether (USDT).  It looks like there are so many recovery cases.

Tether (USDT) Hypothetical Wrong Doing

Some of them in the past have blamed it for being used in cryptocurrency manipulation.  Several rumors have blamed Tether for hypothetical wrong doing.

Tether despite the historic controversies continues to be a successful example of stablecoin project.  There is no transaction fees between two Tether Transactions.  Also, it is the most traded coin in the market.  Since Tether is Tethered to Real-World currencies it is said to have the advantages of cryptocurrencies and real-world currencies.  The fact that it does not suffer volatility issues like other cryptocurrencies is its major plus.