I just don't understand this shit show. So many coworkers are pouring money into cryptos. But almost all of them are all over the place. I cannot even list all the coins. Dodge coin, etherium, and a bunch of others. It seems like their is no one currency. No one talks about bit coin because it's too expensive and not enough availability. All on electronic hope.
You mean it dropped 0.0023% off the dollar. Look at the coinmarketcap chart and the price at the bottom.. $0.9927
Which btw is totally normal… usdt has depegged down to 93 cents before. The lowest in it’s history.
And it only happens when there is so much volume exiting crypto faster than they can re-supply the exchanges, it also can happen in reverse. When so many are entering crypto faster than they can supply.
I am not sure which alternate universe you are residing in, but in this one, as shown in the graph in this post, it did. However, just to break it down here it is again: https://i.imgur.com/P5e3550.png
Read this article, it explains in detail how it was only Coinbase effected and other exchanges saw usdt actually go slightly above $1 at the same time.
This happens briefly sometimes and is completely normal.
Usdt is not guaranteed to always be EXACTLY $1 at the exchanges, turbulent markets can cause temporary instability.
Tether guarantees a $1 redemption rate for all usdt tokens for those who want to redeem them for dollars. Most people don’t bother since exchanges like Coinbase let you “sell” usdt for usd. <—- this is the part that causes the markets to generally maintain an exact $1 cost per usdt… no special algorithm necessary.
The tether (USDT) stablecoin snapped to 97 cents in Asian hours, losing its parity with the U.S. dollar at writing time. It slumped to as low as 96 cents on Coinbase.
So you are squabbling over 96 on coinbase vs 97 everywhere else.
And no this is not normal. Go back and find when it last de-pegged by more than 3%. IIRC, it was 6 years ago.
I know for some people, they dont want to hear their precious cryptos are anything but perfection and might be worthless. I own crypto as well, but it's purely a hedge but I am pretty sure they will crash at some point.
I am so confused. Seriously, I look at your history, and you are not a shill. How do you keep making this claim with such a straight face?
You mentioned you trust coinmarketcap. So here is the graph from coinmarketcap
And, just to make sure I am not dreaming or woke up in a twilight zone, here is the graph from Yahoo Finance and from FTX.com
If you are still going to persist that it was 0.9973 everywhere else, you will need to provide your source. If you continue arguing without providing your data source I will have no choice but to assume you are maliciously shilling on this thread. Please consider this a warning.
You sir don’t know a thing about crypto. This is a SINGLE exchange… lol… the average price across the entire world and all exchanges was not less than 0.9927.
CoinMarketCap is your friend… one exchange doesn’t at all signal a problem with the peg… it instead just means that the order book (user count) for that moment at that exchange was low.
Are you looking at market cap on https://coinmarketcap.com/currencies/tether
?
Because its been stair stepping down by a few hundred million a click. Not billions, but it is still moving. Won't be too much longer before USDC takes 4th spot. And I've been seeing ads for USDC on Reddit lately, which is interesting.
Ah, you are talking market cap. I was looking at the peg. I think people have been quietly pulling out their tethers, but at some point it will become a bank run.
Dont panic, when tether gets pulled, since its operated and linked to kenny mayo boy griffin. Btc will drop and get ready to buy the dip,dont get scared by the colour red, be scared of colour green
Soucve: https://www.coinbase.com/price/tether
I just don't understand this shit show. So many coworkers are pouring money into cryptos. But almost all of them are all over the place. I cannot even list all the coins. Dodge coin, etherium, and a bunch of others. It seems like their is no one currency. No one talks about bit coin because it's too expensive and not enough availability. All on electronic hope.
You mean it dropped 0.0023% off the dollar. Look at the coinmarketcap chart and the price at the bottom.. $0.9927
Which btw is totally normal… usdt has depegged down to 93 cents before. The lowest in it’s history.
And it only happens when there is so much volume exiting crypto faster than they can re-supply the exchanges, it also can happen in reverse. When so many are entering crypto faster than they can supply.
No, I am referring to the drop to 0.94 on may 12th.
In 2016. You mean to say they hadn't slipped up their scam in 6 years ?
It did not dip to 94 cents on the 12th… or anytime in the past 3 years.
I am not sure which alternate universe you are residing in, but in this one, as shown in the graph in this post, it did. However, just to break it down here it is again: https://i.imgur.com/P5e3550.png
and if you still dont believe it, here is a video covering it: https://www.youtube.com/watch?v=sLaV7KV9Wwk
https://www.coindesk.com/markets/2022/05/12/tether-loses-1-peg-bitcoin-drops-to-2020-levels-of-near-24k/
Read this article, it explains in detail how it was only Coinbase effected and other exchanges saw usdt actually go slightly above $1 at the same time.
This happens briefly sometimes and is completely normal.
Usdt is not guaranteed to always be EXACTLY $1 at the exchanges, turbulent markets can cause temporary instability.
Tether guarantees a $1 redemption rate for all usdt tokens for those who want to redeem them for dollars. Most people don’t bother since exchanges like Coinbase let you “sell” usdt for usd. <—- this is the part that causes the markets to generally maintain an exact $1 cost per usdt… no special algorithm necessary.
So you are squabbling over 96 on coinbase vs 97 everywhere else.
And no this is not normal. Go back and find when it last de-pegged by more than 3%. IIRC, it was 6 years ago.
I know for some people, they dont want to hear their precious cryptos are anything but perfection and might be worthless. I own crypto as well, but it's purely a hedge but I am pretty sure they will crash at some point.
No I’m squabbling on 96 on Coinbase vs 0.9973 everywhere else
The OP makes the thread to spark fear and fud that doesn’t exist. The usdt didn’t depeg globally more than 0.0027% from $1.
I am so confused. Seriously, I look at your history, and you are not a shill. How do you keep making this claim with such a straight face?
You mentioned you trust coinmarketcap. So here is the graph from coinmarketcap
And, just to make sure I am not dreaming or woke up in a twilight zone, here is the graph from Yahoo Finance and from FTX.com
If you are still going to persist that it was 0.9973 everywhere else, you will need to provide your source. If you continue arguing without providing your data source I will have no choice but to assume you are maliciously shilling on this thread. Please consider this a warning.
You sir don’t know a thing about crypto. This is a SINGLE exchange… lol… the average price across the entire world and all exchanges was not less than 0.9927.
CoinMarketCap is your friend… one exchange doesn’t at all signal a problem with the peg… it instead just means that the order book (user count) for that moment at that exchange was low.
Point to data, get told I dont know anything, kek.
Okay, tell me how often this gets depegged by more than 4%, even on a single exchange.
It happens every single time there is extreme volatility in the market. It’s a order book problem, NOT a liquidity issue.
And like I said before, it is normal for a single exchange to depeg slightly off either above or below $1… it is unavoidable.
Had another big drop today
In tether? Or are you talking about cryptos in general.
Yes in Tether
Hmm .. dont see any significant dip beyond the one last month ...
Are you looking at market cap on https://coinmarketcap.com/currencies/tether ? Because its been stair stepping down by a few hundred million a click. Not billions, but it is still moving. Won't be too much longer before USDC takes 4th spot. And I've been seeing ads for USDC on Reddit lately, which is interesting.
Ah, you are talking market cap. I was looking at the peg. I think people have been quietly pulling out their tethers, but at some point it will become a bank run.
Dont panic, when tether gets pulled, since its operated and linked to kenny mayo boy griffin. Btc will drop and get ready to buy the dip,dont get scared by the colour red, be scared of colour green
So far the colors I am scared of: Green, Blue, Pink, Rainbow