Stable coins are a scam and are created out of thin air with a promise to burn the supply which is not the case. Yes they are a scam and many exchanges will go under for the scam - however this will not impact bitcoin as much as it will destroy the exchanges that took part in the scam.
Expect some coins and many exchanges to disappear at some point but Bitcoin and other coins exchanges will live on.
Yes if it falls, it WOULD take a massive dump on the entire crypto market.
However, on a longer time frame (probably 2 decades), Bitcoin would recover and surpass its current valuation due it's limited supply.
The article is correct in stating no one in crypto cares about the Tether issue.
This is absolutely true, we could not care less.
I'm nearing 9 years of experience with Bitcoin and other crypto currencies.
I've heard this same type of FUD literally every time the market dumps 50% or whatever for the better part of a decade now.
Almost starting to sound like the new fake climate change hoaxes pushed every decade.
And yet here I am, 9 years later doing just fine.
I will say this though, BTC is clearly positively tied to S&P500 and if traditional markets tank, I would expect to see BTC to get smoked into oblivion (actually this time).
We saw this happen when corona first shut down the US and traditional markets tanking brought BTC down 50% in a single day.
Was one of the worst days in crypto history and many of us (myself included) thought it was the end of BTC and crypto.
So if you REALLY want to short Bitcoin (because you hate BTC or whatever), wait for trad markets to tumble first.
I would recommend taking these types of articles with a grain of salt.
I am hardcore anti-Crypto. You have to ask questions and be skeptical of something that comes from the internet and gaming community. Cryptos can be generated by computers endlessly.
So what happened to bitcoin and stuff being block chained and immune to fuckery?
Winks...yeah, that's the ticket....
Hahahahaha.
Stable coins are a scam and are created out of thin air with a promise to burn the supply which is not the case. Yes they are a scam and many exchanges will go under for the scam - however this will not impact bitcoin as much as it will destroy the exchanges that took part in the scam.
Expect some coins and many exchanges to disappear at some point but Bitcoin and other coins exchanges will live on.
Long time crypto guy here (bought BTC in 2013)
Yes the Tether issue has always been around.
Yes if it falls, it WOULD take a massive dump on the entire crypto market.
However, on a longer time frame (probably 2 decades), Bitcoin would recover and surpass its current valuation due it's limited supply.
The article is correct in stating no one in crypto cares about the Tether issue.
This is absolutely true, we could not care less.
I'm nearing 9 years of experience with Bitcoin and other crypto currencies.
I've heard this same type of FUD literally every time the market dumps 50% or whatever for the better part of a decade now.
Almost starting to sound like the new fake climate change hoaxes pushed every decade.
And yet here I am, 9 years later doing just fine.
I will say this though, BTC is clearly positively tied to S&P500 and if traditional markets tank, I would expect to see BTC to get smoked into oblivion (actually this time).
We saw this happen when corona first shut down the US and traditional markets tanking brought BTC down 50% in a single day.
Was one of the worst days in crypto history and many of us (myself included) thought it was the end of BTC and crypto.
So if you REALLY want to short Bitcoin (because you hate BTC or whatever), wait for trad markets to tumble first.
I would recommend taking these types of articles with a grain of salt.
Silver to the moon!
I love junk silver....
Which is why I've always held the belief that crypto-currencies aren't the wave of the future. More like the iceberg that sank the Titanic.
Financial honey pot....
Terrific article! Very informative and much of it surprising, even for a long-time crypto-doubter like me.
Wags tail....
Can't wait for GAW to be properly orange pilled
I am hardcore anti-Crypto. You have to ask questions and be skeptical of something that comes from the internet and gaming community. Cryptos can be generated by computers endlessly.
Yes but their value is only created out of their demand for the token.
You don't just assign value to the project lmfao.