sure sure. Let’s see what happens to the price when/if 70% of daily volume disappears and real money, that do have fear, are the only game in town.
crypto is not fake/fraud, its market cap is the biggest financial fraud the world have ever seen.
Bitcoin's W5 Down has begun
- Thread starter Wallace
- Start date
sure sure. Let’s see what happens to the price when/if 70% of daily volume disappears and real money, that do have fear, are the only game in town.
crypto is not fake/fraud, its market cap is the biggest financial fraud the world have ever seen.
We'll see about that, because even if Tether was fake money, then that would only affect Tether. There are 5 different other stablecoins to chose from, not to mention USD.
Also when you think about it, if Tethers price was to go down, that would mean on the BTC/USDT chart that Bitcoins price would go up to make up for the lost difference of Tether.
Remember what happened when USDC's price went to 80 cents? Did Bitcoin go down with it?
I understand your concern, but it's wrong.
Nobody cares what stablecoin they use, if Tether went away (we can only prey) then people would just use another one and not think twice. It certainly wouldn't make the price of bitcoin crash, in fact it might make it fly!
just put tether printer chart next to BTC chart and you clearly see correlation. Price goes up when tethers are Printed. It is really this simple.
That weekend BTC dipped below 20k I recall.
anyway let’s see if it ever happens, that is tether fraud bust.
lol. So naive. People do not move crypto market. Fake stable coins and tokens do. Once again, real people use real money.
The Tether risk is why I am only trickling a little spot here and there. Almost nothing at all in my purchases.
I will still put a few more tiny nips into crypto equities each month, but I don't go crazy with it.
For now, I'm un-leveraged in crypto. Collecting my wrapped covered-calls on my ETH/BTC etfs... staking my ether, and I am also loaning out all my crypto ETFs to those who are willing to pay for those shorts.
The portfolio is definitely over-weight in crypto, and underweight in bonds. Unfortunately (or fortunately) my REITs was over-weight and they imploded... which I am glad for, but this means I'm going to have even MORE of a lopsided REIT weighting down the road; I can't resist doubling-down.
Alright, lets see how much worse I fuck up this portfolio by the end of this year folks!
we have gone around and around on this topic but I still don’t really understand your reasoning.
I am totally with you that Tether is shady and I wish it didn’t exist. If Tether is shown to be a fraud though why would that make the price of all crypto‘s and bitcoin crash?
Stable coins like tether are used to facilitate moving fiat currency into cryptocurrency. people will just use another one. if you already used your fraudulent tether to buy bitcoin then you wouldn’t have to do anything in this scenario, just keep holding the bitcoin.
so I’m just missing the mechanism why tether being a fraud means everything is a house of cards?