Pumping hundreds of millions of dollars of unbacked Tether to keep crypto above the 100 billion dollar mcap mark succeeded. Most crypto investors are either fools or looking for the greater fools, and the same tricks keep working.
But it won't work forever. Eventually, even if it takes several more years, the truth will come out. The more fake money that goes into the system, the less real liquidity there is for retail investor schmoes like most of us when we want to withdraw. And the CFTC isn't stupid... even if the average investor can't see what's going on, they know exactly what's going on with the manipulation. Because of this, they will not allow ETFs, which means current bag hodlers will not be able to dump on 401kfags.
What's more, once the top devs/miners like Block One and Jihan are done dumping their bags, I think there's a good chance they'll pull the plug.
Also, here is a hot Asian girl so you will read this.
USDT, TRUEUSD, USDC, some bullshit called PAX, that list will keep growing until this entire market is utterly destroyed and dethroned by a bunch of stable literal shitcoins.
Daniel Green
Yup, Tether is artificially maintaining the market so much higher than its worth, it hurts. Gamble at your own risk, and cash out when it's not too late.
Carson Green
You would think by now that people would question the 'stable' part when none of these coins can even keep their peg at $1.00. I wonder about the Tether 'alts' though... is there some special relationship each of those stablecoin alts have with certain cryptos? I don't see what's stopping them from doing the same thing Tether did. Unless they are regulated by an accredited body, absolutely nothing, as far as I can see
There are a lot of honest people that are going to get slaughtered on the way down. They'll try to cash out thinking they're tethered up and they have nothing to worry about, only to discover there's no liquidity left for exchanges to give them their money, and exchanges sure as hell aren't going to spend their own cash letting their customers withdraw
That right there, will be the next crash. People think the bear market this year was bad but they have no idea. The thought actually scares me as I'm heavily invested in crypto.
Camden Perry
Just remember that if you wait to cash out until everyone else does, you are going to get caught on the way down. Remember what Buffet said: the wise man does in the beginning what the fool does in the end. There are going to be a lot of fools who wait until it's too late to cash out and they discover that their portfolio is ultimately just words on a screen that can't make the leap to a chequing account full of cash.
Everyone shits on USDC. Its created and backed by Goldman Sachs and not some pedophile cowboy producer. It's the only stablecoin with a big name in finance, outside of crypto, attached to it
Brayden Williams
fuck off white bitch
Wyatt Allen
So you're just gonna hodl shitty rothschild fiat currency or rothschild stocks and call it a day?
>Its created and backed by Goldman Sachs This is why crypto is failing: because most people out there apparently don't realize the whole point was to get away from Goldman Sachs. My god, don't you people get it?
False dichotomy argument. Just because A is bad doesn't mean that B is automatically the answer. If relative amateurs can manipulate crypto this badly, imagine what would happen if the pros finally got serious about it.
