Crypto’s Center of Gravity Is Shifting Away from the U.S.
- Thread starter johnarb
- Start date
lol. We already discussed this. Very easy to eliminate something that they never had to begin with.
As bad as what was done with USD, It’s real strength comes from being reserve currency of the world and full might of USA economy and military.
tether on the other hand is being run by 4 fraudsters that just prints magical tokens.
They should have been shut down years ago. the only reason why I even invested in crypto is a bet that they will not be shut down. If tether gets exposed, the crypto market will just crash to levels no one can imagine.
I've been away from the crypto space, probably start engaging after BTC capitulates.
if tether collapses this would be epic opportunity to load up on crypto.
The fear of Tether is very real and very warranted.
That said..
I could think up some very low probability tailed events to cause, this, but it's extremely unlikely. The majority of DeFi is built on Ethereum for very valid reasons.
Sure, you could try another chain in order to speed things up, or cheapen rates, but then you are throwing security out of the window to compensate...
It would seem pretty silly to think of the Royal Bank of Canada, etc. building services on top of Solana instead of Ethereum for example. But.... stranger things have happened I suppose...
If Ethereum disappeared as stated, that could be a miraculous thing. As it could very well mean we hit a second-generation age of crypto, where even Ether is obsolete. It would still be a big win for technological progression.
A while back, the biggest threat to Ethereum was improvement in quantum computing. But... Vitalik was working on solutions for that ahead of time. So I'm not going to lose sleep over quantum computers just yet. When I was in university I read articles in periodicals on the state of quantum computing (extremely limited and far from practical), but since... I haven't heard much on progress. It's sort of like, what happened to VRML or the expected Java-chip OS that was going to make every single computer in the world run Java natively as part of its hardware.
That said..
I could think up some very low probability tailed events to cause, this, but it's extremely unlikely. The majority of DeFi is built on Ethereum for very valid reasons.
Sure, you could try another chain in order to speed things up, or cheapen rates, but then you are throwing security out of the window to compensate...
It would seem pretty silly to think of the Royal Bank of Canada, etc. building services on top of Solana instead of Ethereum for example. But.... stranger things have happened I suppose...
If Ethereum disappeared as stated, that could be a miraculous thing. As it could very well mean we hit a second-generation age of crypto, where even Ether is obsolete. It would still be a big win for technological progression.
A while back, the biggest threat to Ethereum was improvement in quantum computing. But... Vitalik was working on solutions for that ahead of time. So I'm not going to lose sleep over quantum computers just yet. When I was in university I read articles in periodicals on the state of quantum computing (extremely limited and far from practical), but since... I haven't heard much on progress. It's sort of like, what happened to VRML or the expected Java-chip OS that was going to make every single computer in the world run Java natively as part of its hardware.
I just think Tether will not fail, but others can keep waiting for the time it does
With longterm bonds being crushed due to unprecedented interest rake hiking... I am debating on FINALLY finding a reason to load up on long-term Federal bond ETFs. Grabbing all the AAA rated for now, and holding on a 3.5% interest coupon for as long as it takes for interest rates to come back down.
Also, when the depression/great recession hits AGAIN, those bonds can be flipped and then gains used on fire-sale equities/crypto.
Also, when the depression/great recession hits AGAIN, those bonds can be flipped and then gains used on fire-sale equities/crypto.
exactly why I got into crypto. As they should have been stopped years ago, but they were not.
If it wasn't noticeable in the tone of my posts on this thread.... I want the US to continue and go even harder in their Operation Chokepoint 2.0 against cryptos
In the US, we have too many financial privileges, such as Venmo, PayPal, Robinhood, Zelle, Visa/MC that we do not need Bitcoin and crypto assets other than as investments
Let the ones that truly need Bitcoin and crypto assets be the ones that get to own and grow this new decentralized global monetary and financial system
People from Argentina, Turkey, Lebanon, in South Africa, in Vietnam, in Philippines, in Nigeria, in Brazil, in El Salvador, in India, countries in Africa, and many others should not pay a higher price because US investors want to drive up the price, for speculative reasons